Core Viewpoint - Yancheng Port (08310) reported a total revenue of approximately HKD 515 million for the first half of 2025, representing a year-on-year decrease of about 25.47% [1] - The company recorded a loss attributable to equity holders of approximately HKD 26.9 million, which is an increase of about 51.71% compared to the previous year [1] - The loss per share is approximately HKD 0.0209 [1] Financial Performance - Total revenue for the first half of 2025 is approximately HKD 515 million, down 25.47% year-on-year [1] - Loss attributable to equity holders is approximately HKD 26.9 million, up 51.71% year-on-year [1] - Loss per share is approximately HKD 0.0209 [1]

[Report Overview](index=1&type=section&id=Report%20Overview) This section provides an overview of the company's information, disclaimers, and definitions used in the report [Company Information and Disclaimer](index=1&type=section&id=Company%20Information%20and%20Disclaimer) Yancheng Port International Co., Limited, listed on GEM, presents its interim results, emphasizing GEM's high investment risk and the board's responsibility for accuracy - Yancheng Port International Co., Limited (Stock Code: 8310) is incorporated in the Cayman Islands and listed on GEM of HKEX[1](index=1&type=chunk) - The GEM market is positioned for small and medium-sized companies with higher investment risks, and investors should understand potential risks[1](index=1&type=chunk) - The company's directors jointly and individually assume full responsibility for this announcement, confirming accuracy, completeness, and absence of misleading or fraudulent content[2](index=2&type=chunk) [Definitions](index=2&type=section&id=Definitions) This chapter defines key terms used in the report, including company entities, committees, geographical areas, and currency units for clarity - Key entities defined in the report include "the Company" (Yancheng Port International Co., Limited) and "the Group" (the Company and its subsidiaries)[3](index=3&type=chunk) - "The Period" specifically refers to January 1, 2025, to June 30, 2025[4](index=4&type=chunk) - "China/Mainland China" excludes Hong Kong, Macau Special Administrative Regions, and Taiwan[4](index=4&type=chunk) [Financial Highlights](index=4&type=section&id=Financial%20Highlights) This section summarizes the Group's key financial performance indicators for the six months ended June 30, 2025 [Key Financial Performance Indicators](index=4&type=section&id=Key%20Financial%20Performance%20Indicators) For the six months ended June 30, 2025, the Group's total revenue decreased by **25.47% to approximately HK$515 million**, with loss before tax increasing by **48.00% to approximately HK$26.8 million** 2025 H1 Key Financial Data Comparison | Indicator | 2025 H1 (HKD) | 2024 H1 (HKD) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 514,700,000 | 690,500,000 | -25.47% | | Loss Before Tax | (26,800,000) | (18,100,000) | +48.00% | | Loss Attributable to Owners of the Company | (26,900,000) | (17,800,000) | +51.71% | | Loss Per Share | (0.0209) HK cents | (0.0138) HK cents | +51.45% | [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the Group's condensed consolidated financial statements, including comprehensive income, financial position, equity changes, and cash flows [Condensed Consolidated Statement of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's revenue was **HK$514.65 million**, a **25.47% decrease**, with loss for the period expanding to **HK$26.88 million** Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Indicator (HKD '000) | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | 514,654 | 690,507 | | Cost of Revenue | (513,268) | (689,223) | | Gross Profit | 1,386 | 1,284 | | Other (Losses)/Income | (4,354) | 1,802 | | Administrative Expenses | (13,742) | (9,929) | | Finance Costs | (10,070) | (11,251) | | Loss Before Tax | (26,780) | (18,094) | | Tax | (97) | – | | Loss for the Period | (26,877) | (18,094) | | Exchange Differences on Translation of Overseas Operations | 1,357 | (4,484) | | Total Comprehensive Loss for the Period | (25,520) | (22,578) | | Loss Attributable to Owners of the Company | (26,941) | (17,758) | | Loss Attributable to Non-controlling Interests | 64 | (336) | | Basic and Diluted Loss Per Share (HK cents) | (2.09) | (1.38) | [Condensed Consolidated Statement of Financial Position](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets less current liabilities worsened to **negative HK$230.79 million**, with total deficit attributable to owners increasing to **HK$537.05 million** Condensed Consolidated Statement of Financial Position (HKD '000) | Indicator | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | **Non-current Assets** | | | | Property, Plant and Equipment | 102,223 | 102,310 | | Right-of-use Assets | 35,527 | 34,719 | | **Current Assets** | | | | Trade and Other Receivables | 510,337 | 169,518 | | Bank Balances and Cash | 5,666 | 4,968 | | **Current Liabilities** | | | | Trade and Other Payables | 763,815 | 365,829 | | Current Portion of Bank and Other Borrowings | 124,418 | 151,946 | | **Net Current Liabilities** | (374,698) | (344,755) | | **Total Assets Less Current Liabilities** | (230,792) | (201,733) | | **Non-current Liabilities** | | | | Non-current Portion of Bank and Other Borrowings | 287,450 | 291,029 | | **Net Liabilities** | (519,669) | (494,149) | | **Total Deficit Attributable to Owners of the Company** | (537,053) | (510,711) | [Condensed Consolidated Statement of Changes in Equity](index=9&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, the total deficit attributable to owners increased from **HK$510.71 million** to **HK$537.05 million**, primarily due to the loss for the period Condensed Consolidated Statement of Changes in Equity (HKD '000) | Indicator | January 1, 2025 (Audited) | Loss for the Period | Exchange Differences on Translation of Overseas Operations | June 30, 2025 (Unaudited) | | :--- | :--- | :--- | :--- | :--- | | Total Deficit Attributable to Owners of the Company | (510,711) | (26,941) | 599 | (537,053) | | Non-controlling Interests | 16,562 | 64 | 758 | 17,384 | | Total Deficit | (494,149) | (26,877) | 1,357 | (519,669) | Condensed Consolidated Statement of Changes in Equity (HKD '000) | Indicator | January 1, 2024 (Audited) | Loss for the Period | Exchange Differences on Translation of Overseas Operations | June 30, 2024 (Unaudited) | | :--- | :--- | :--- | :--- | :--- | | Total Deficit Attributable to Owners of the Company | (465,583) | (17,758) | (3,824) | (487,165) | | Non-controlling Interests | 18,600 | (336) | (660) | 17,604 | | Total Deficit | (446,983) | (18,094) | (4,484) | (469,561) | [Condensed Consolidated Statement of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities was **HK$75.54 million**, while net cash from financing activities turned positive, leading to an increase in cash and cash equivalents Condensed Consolidated Statement of Cash Flows (For the six months ended June 30, HKD '000) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (75,537) | (40,409) | | Net Cash Used in Investing Activities | (610) | (1,990) | | Net Cash From/(Used in) Financing Activities | 76,730 | (91,681) | | Net Increase/(Decrease) in Cash and Cash Equivalents | 583 | (134,080) | | Cash and Cash Equivalents at End of Period | 5,666 | 21,838 | - Net cash from financing activities turned from an outflow of **HK$91.681 million** in the same period of 2024 to an inflow of **HK$76.73 million** in 2025, primarily due to new advances from related companies[15](index=15&type=chunk) [Notes to the Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes to the condensed consolidated financial statements, covering company information, accounting policies, and specific financial items [Company Information and Basis of Preparation](index=11&type=section&id=Company%20Information%20and%20Basis%20of%20Preparation) The Company was incorporated in the Cayman Islands on September 13, 2011, and its interim financial statements are prepared in accordance with HKAS 34 and GEM Listing Rules - The Company was incorporated in the Cayman Islands as an exempted limited liability company on September 13, 2011[16](index=16&type=chunk) - The interim financial statements are prepared in accordance with Hong Kong Accounting Standard 34 and the GEM Listing Rules[17](index=17&type=chunk) - The adoption of new/revised Hong Kong Financial Reporting Standards had no significant impact on the Group's results and financial position for the current and prior accounting periods[18](index=18&type=chunk) [Segment Information](index=12&type=section&id=Segment%20Information) The Group primarily operates in trading (petrochemical and soybean products, supply chain management) and petrochemical product storage segments, with H1 2025 trading revenue at **HK$506 million** and storage revenue at **HK$8.5 million** - The Group's main operating segments are trading business (trading of petrochemical and soybean products, provision of supply chain management services) and petrochemical product storage business[20](index=20&type=chunk) Segment Revenue and Results (For the six months ended June 30, HKD '000) | Indicator | Trading Business (2025) | Storage Business (2025) | Trading Business (2024) | Storage Business (2024) | | :--- | :--- | :--- | :--- | :--- | | Revenue (from external customers) | 506,156 | 8,498 | 681,724 | 8,783 | | Segment Results | 709 | (6,904) | (1,435) | (6,554) | - All the Group's revenue from external customers is attributable to China[26](index=26&type=chunk) [Revenue and Other Income/Losses](index=16&type=section&id=Revenue%20and%20Other%20Income%2FLosses) The Group's revenue primarily comes from trading and petrochemical product storage, with other income/losses showing a net exchange loss of **HK$4.36 million** for H1 2025 Revenue Composition (For the six months ended June 30, HKD '000) | Revenue Source | 2025 | 2024 | | :--- | :--- | :--- | | Revenue from Trading Business | 506,156 | 681,724 | | Revenue from Providing Petrochemical Product Storage Services | 8,498 | 8,783 | | **Total Revenue** | **514,654** | **690,507** | Other (Losses)/Income (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Bank Interest Income | 4 | 46 | | Exchange (Losses)/Gains | (4,362) | 1,753 | | Miscellaneous Income | 4 | 3 | | **Total** | **(4,354)** | **1,802** | [Finance Costs and Key Expenses](index=17&type=section&id=Finance%20Costs%20and%20Key%20Expenses) For H1 2025, finance costs totaled **HK$10.07 million**, mainly from listed credit enhanced guaranteed bonds, with key expenses including cost of inventories and staff costs Finance Costs (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Interest on Borrowings Repayable Within Five Years | 2,049 | 2,368 | | Interest on Listed Credit Enhanced Guaranteed Bonds | 7,041 | 8,876 | | Interest on Lease Liabilities | 35 | 7 | | Interest on Loan from a Former Associate | 945 | – | | **Total** | **10,070** | **11,251** | Other Key Expenses (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Cost of Inventories | 505,552 | 681,436 | | Depreciation of Property, Plant and Equipment | 5,982 | 6,044 | | Depreciation of Right-of-use Assets | 501 | 534 | | Staff Costs | 9,661 | 7,259 | [Taxation and Dividends](index=18&type=section&id=Taxation%20and%20Dividends) The Group incurred **HK$97,000** in income tax expense for H1 2025, primarily due to under-provision from prior periods, and no interim dividend is recommended - Hong Kong profits tax is calculated under a two-tiered profits tax rate regime, but the Company or its Hong Kong subsidiaries did not generate assessable profits, hence no income tax[30](index=30&type=chunk) - China corporate income tax is calculated at a rate of **25%**, with an income tax expense of **HK$97,000** for H1 2025, mainly due to under-provision from prior periods[30](index=30&type=chunk)[32](index=32&type=chunk) - The Board does not recommend the payment of any interim dividend for the period (2024: nil)[32](index=32&type=chunk) [Loss Per Share and Property, Plant and Equipment](index=19&type=section&id=Loss%20Per%20Share%20and%20Property%2C%20Plant%20and%20Equipment) Basic loss per share attributable to owners increased to **HK$0.0209** for H1 2025, and the Group acquired property, plant, and equipment worth approximately **HK$0.64 million** during the period Basic Loss Per Share (For the six months ended June 30) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Loss Attributable to Owners of the Company (HKD '000) | (26,941) | (17,758) | | Weighted Average Number of Ordinary Shares Issued | 1,288,000,000 | 1,288,000,000 | | Basic Loss Per Share (HK cents) | (2.09) | (1.38) | - During the period, the Group acquired items of property, plant and equipment at a cost of approximately **HK$0.64 million** (2024: approximately **HK$0.3 million**)[36](index=36&type=chunk) [Trade and Other Receivables](index=20&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, trade and other receivables significantly increased to **HK$510.34 million**, with trade receivables (net of loss allowance) at **HK$453.34 million**, primarily concentrated within 90 days Trade and Other Receivables (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Trade Receivables (Third Parties) | 456,851 | 117,029 | | Less: Loss Allowance | (3,514) | (3,514) | | **Net Trade Receivables** | **453,337** | **113,515** | | Total Other Receivables | 57,000 | 56,003 | | **Total** | **510,337** | **169,518** | Ageing Analysis of Trade Receivables (HKD '000) | Ageing | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Within 90 Days | 449,373 | 107,727 | | Over 365 Days (No Credit Impairment) | 3,964 | 5,788 | | Over 365 Days (Credit Impairment) | 3,514 | 3,514 | - The Group grants credit periods of up to 90 days to trade debtors[38](index=38&type=chunk) [Trade and Other Payables](index=23&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, trade and other payables substantially increased to **HK$763.82 million**, including **HK$435.80 million** due to related companies, which are unsecured, repayable on demand, and interest-free Trade and Other Payables (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Trade Payables | 284,715 | 10,200 | | Accrued Expenses and Other Payables | 10,852 | 13,450 | | Contract Liabilities | 11,932 | 6,914 | | Amounts Due to Related Companies | 435,804 | 314,960 | | **Total** | **763,815** | **365,829** | Amounts Due to Related Companies (HKD '000) | Related Company | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Dafeng Port Development Group | 208,806 | 101,767 | | Xinyu International Development Co., Ltd. | 10,462 | 790 | | Dafeng Port (Hong Kong) | 216,536 | 212,403 | | **Total** | **435,804** | **314,960** | - Amounts due to related companies are unsecured, repayable on demand, and interest-free[44](index=44&type=chunk) [Bank and Other Borrowings](index=25&type=section&id=Bank%20and%20Other%20Borrowings) As of June 30, 2025, total bank and other borrowings decreased to **HK$411.87 million**, with listed credit enhanced guaranteed bonds and related company loans being major components Total Bank and Other Borrowings (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Bank Loans | 10,940 | 42,315 | | Loans from a Related Company | 102,537 | 99,650 | | Listed Credit Enhanced Guaranteed Bonds | 244,925 | 242,010 | | Loans from a Former Associate | 33,035 | 32,105 | | Loans from a Third Party | 19,339 | 25,871 | | **Total** | **411,868** | **442,975** | Borrowing Analysis (HKD '000) | Type | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Secured and Guaranteed | 19,339 | 25,871 | | Unsecured | 136,664 | 132,779 | | Unsecured but Guaranteed | 255,865 | 284,325 | | **Total** | **411,868** | **442,975** | [Share Capital and Related Party Transactions](index=26&type=section&id=Share%20Capital%20and%20Related%20Party%20Transactions) The Company's statutory share capital was **HK$100 million** and issued share capital was **HK$12.88 million**, with no changes during the period, and related party transactions included rental payments to Dafeng Port Development Group Share Capital Structure (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Authorized Share Capital (Ordinary Shares of HK$0.01 each) | 100,000 | 100,000 | | Issued and Fully Paid (Ordinary Shares of HK$0.01 each) | 12,880 | 12,880 | Related Party Transactions (For the six months ended June 30, HKD '000) | Transaction Type | 2025 | 2024 | | :--- | :--- | :--- | | Sales to Yancheng Port Finished Oil Co., Ltd. | 0 | 9,985 | | Rental Expenses: Dafeng Port Development Group | 114 | 105 | [Key Management Personnel Remuneration and Asset Pledges](index=27&type=section&id=Key%20Management%20Personnel%20Remuneration%20and%20Asset%20Pledges) Key management personnel remuneration significantly increased to **HK$2.801 million** for H1 2025, and approximately **HK$19.3 million** of third-party loans are secured by petrochemical storage equipment Key Management Personnel Remuneration (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Salaries, Allowances and Other Short-term Employee Benefits | 2,385 | 690 | | Contributions to Defined Contribution Plans | 416 | 12 | | **Total** | **2,801** | **702** | Bank and Other Facilities (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Total Bank and Other Facilities Granted to the Group | 54,700 | 85,056 | | Total Bank and Other Facilities Utilized | 30,279 | 68,186 | - As of June 30, 2025, approximately **HK$19.3 million** of loans from a third party were secured by petrochemical product storage equipment with a total carrying amount of approximately **HK$32.3 million**[49](index=49&type=chunk) [Commitments and Approval of Interim Financial Statements](index=28&type=section&id=Commitments%20and%20Approval%20of%20Interim%20Financial%20Statements) As of June 30, 2025, the Group had capital commitments of approximately **HK$222 million** for property, plant, and equipment construction, and the interim financial statements were approved on August 26, 2025 Capital Commitments (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Contracted but Not Provided For, Net of Deposits Paid for Construction of Property, Plant and Equipment | 221,763 | 212,862 | - The interim financial statements were approved and authorized for issue by the Board on August 26, 2025[51](index=51&type=chunk) [Management Discussion & Analysis](index=29&type=section&id=Management%20Discussion%20%26%20Analysis) This section provides management's perspective on the Group's financial performance, operational review, and strategic outlook amidst the economic environment [Economic Outlook and Company Strategy](index=29&type=section&id=Economic%20Outlook%20and%20Company%20Strategy) The Group will monitor global economic dynamics, mitigate external impacts, and strategically optimize resources to seize opportunities in Jiangsu Yancheng's integrated development - The global economic situation in H1 2025 was complex and volatile, with weak endogenous growth momentum in the domestic economy[52](index=52&type=chunk) - The Company will continue to closely monitor global economic dynamics to minimize the impact of adverse external factors and ensure stable operations[52](index=52&type=chunk) - Looking ahead, the Company will adopt a prudent operating approach, seize opportunities from the integrated development of Jiangsu Yancheng, rationally reorganize and optimize resources, and cautiously seek investment opportunities[64](index=64&type=chunk) [Business Review](index=29&type=section&id=Business%20Review) The Group's trading business revenue decreased by **25.74% to approximately HK$506 million** due to US-China tariff policies, while petrochemical storage revenue remained stable at approximately **HK$8.5 million** - The Group primarily engages in soybean product trading and petrochemical product storage services[53](index=53&type=chunk)[54](index=54&type=chunk)[55](index=55&type=chunk) Business Revenue Comparison (For the six months ended June 30, HKD) | Business Type | 2025 H1 | 2024 H1 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Trading Business Revenue | 506,200,000 | 681,700,000 | -25.74% | | Petrochemical Product Storage Business Revenue | 8,500,000 | 8,800,000 | -3.25% | - The decrease in trading business revenue was mainly due to the impact of US-China tariff policies, leading to a decline in transaction volume[54](index=54&type=chunk) [Financial Review](index=30&type=section&id=Financial%20Review) The Group's revenue decreased by **25.47% to approximately HK$515 million**, but gross profit margin improved to **0.27%** due to optimized sales channels, though loss for the period expanded to **HK$26.9 million** Financial Performance Comparison (For the six months ended June 30, HKD) | Indicator | 2025 H1 | 2024 H1 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 514,700,000 | 690,500,000 | -25.47% | | Cost of Revenue | 513,300,000 | 689,200,000 | -25.53% | | Gross Profit Margin | 0.27% | 0.19% | +0.08pp | | Finance Costs | 10,100,000 | 11,300,000 | -10.62% | | Loss for the Period | (26,900,000) | (18,100,000) | +48.62% | | Loss Per Share | (0.0209) HK cents | (0.0138) HK cents | +51.45% | - The increase in gross profit margin was mainly due to the Group's proactive development of new sales channels and markets, coupled with optimizing the existing channel structure to enhance bargaining power[56](index=56&type=chunk) [Liquidity and Financial Resources](index=31&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, net current liabilities increased to approximately **HK$374.7 million**, but the liquidity ratio improved to **0.58**, and the gearing ratio improved to **negative 79.3%** Liquidity Indicators Comparison (HKD) | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Net Current Liabilities | (374,700,000) | (344,800,000) | | Current Ratio | 0.58 | 0.34 | | Gearing Ratio | -79.3% | -89.6% | | Total Interest-bearing Borrowings | 411,900,000 | 443,000,000 | | Total Deficit | 519,700,000 | 494,100,000 | - The increase in the current ratio was primarily due to the combined effect of increased trade and other receivables, bank balances and cash, and a decrease in the current portion of bank and other borrowings[58](index=58&type=chunk) [Capital Structure and Dividend Policy](index=31&type=section&id=Capital%20Structure%20and%20Dividend%20Policy) The total deficit attributable to owners increased to approximately **HK$537.1 million**, with no change in issued share capital and no interim dividend recommended Capital Structure Comparison (HKD) | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Deficit Attributable to Owners of the Company | (537,100,000) | (510,700,000) | - The Company's issued share capital remained unchanged during the period[59](index=59&type=chunk) - The Board does not recommend the payment of any interim dividend for the period (2024: nil)[60](index=60&type=chunk) [Strategic Outlook and Investments](index=32&type=section&id=Strategic%20Outlook%20and%20Investments) The Group uses bank financing for business expansion, with **HK$19.3 million** in third-party loans secured by petrochemical storage equipment, and currently has no significant future investment plans - The Group utilizes bank financing and other borrowings to fund its business expansion[61](index=61&type=chunk) - As of June 30, 2025, approximately **HK$19.3 million** of loans from a third party were secured by petrochemical storage equipment with a total carrying amount of approximately **HK$32.3 million**[61](index=61&type=chunk) - During the period, the Company did not undertake any significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures, and currently has no significant future investment or capital asset plans[62](index=62&type=chunk)[63](index=63&type=chunk) [Operational and Risk Management](index=33&type=section&id=Operational%20and%20Risk%20Management) The Group manages foreign exchange risk through various measures, employs **89 staff** with total costs of approximately **HK$9.7 million**, and has capital commitments of approximately **HK$222 million** for PPE construction - The Group monitors foreign exchange risk by adjusting the timing of foreign currency receipts and payments, matching foreign currency balances, and entering into foreign exchange forward contracts with banks, expecting no significant foreign currency risk[65](index=65&type=chunk) Employees and Remuneration (For the six months ended June 30) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Number of Employees | 89 | 90 | | Total Staff Costs (HKD) | 9,700,000 | 7,300,000 | - As of June 30, 2025, the Group had capital commitments contracted but not provided for (net of deposits paid) of approximately **HK$222 million**, primarily related to the construction of property, plant and equipment[67](index=67&type=chunk) [Other Information](index=34&type=section&id=Other%20Information) This section covers contingent liabilities, corporate actions, company name change, director changes, post-balance sheet events, and shareholder interests [Contingent Liabilities and Corporate Actions](index=34&type=section&id=Contingent%20Liabilities%20and%20Corporate%20Actions) The Group had no significant contingent liabilities, but a mandatory unconditional cash offer for **24.44%** of issued share capital was completed during the period - As of June 30, 2025, the Group had no significant contingent liabilities[68](index=68&type=chunk) - Dafeng Port (Hong Kong) acquired a **60%** equity interest in Yancheng Port Overseas and made a mandatory unconditional cash offer at **HK$0.48** per share[69](index=69&type=chunk) - During the offer period, a total of **315 million** offer shares were validly accepted, representing approximately **24.44%** of the Company's then-issued share capital[69](index=69&type=chunk) [Company Name Change](index=35&type=section&id=Company%20Name%20Change) The Company's English and Chinese names were officially changed to Yancheng Port International Co., Limited and 盐城港国际股份有限公司, effective March 6, 2025 - The Company's English name has been changed from "Dafeng Port Heshun Technology Company Limited" to "Yancheng Port International Co., Limited"[70](index=70&type=chunk) - The Chinese name has been changed from "大丰港和顺科技股份有限公司" to "盐城港国际股份有限公司"[70](index=70&type=chunk) - The name change became effective on March 6, 2025[70](index=70&type=chunk) [Changes in Directors and Board Committee Composition](index=35&type=section&id=Changes%20in%20Directors%20and%20Board%20Committee%20Composition) The board and committee composition saw multiple changes, including resignations of non-executive directors, appointments of executive and non-executive directors, and changes in chairman roles - Mr. Ji Longtao, Mr. Yang Yuexia, and Mr. Zhang Shukai resigned as non-executive directors, and Mr. Ji Yaosheng was appointed as an executive director and chief executive officer (effective March 21, 2025)[72](index=72&type=chunk) - Mr. Zhao Liang resigned as executive director, chairman of the Board, and other positions; Mr. Zhou Zhengxiong, Mr. Ding Anguang, and Ms. Yuan Xin were appointed as non-executive directors (effective March 31, 2025)[75](index=75&type=chunk) - Ms. Yuan Xin was re-designated as an executive director and vice chairman of the Board (effective May 28, 2025); Mr. Lu Shuai was appointed as an executive director, chairman of the Board, and chairman of the Nomination Committee (effective August 1, 2025)[75](index=75&type=chunk) [Post Balance Sheet Events](index=36&type=section&id=Post%20Balance%20Sheet%20Events) No significant post-balance sheet events occurred after the period and up to the announcement date, other than those disclosed - Save as disclosed in this announcement, there were no significant events after the period and up to the date of this announcement[74](index=74&type=chunk) [Directors' and Chief Executive's Interests](index=37&type=section&id=Directors'%20and%20Chief%20Executive's%20Interests) As of June 30, 2025, no directors or chief executives held disclosable interests or short positions in the Company's shares or related corporations - As of June 30, 2025, no directors or chief executive of the Company had any interests or short positions in the shares, underlying shares, and debentures of the Company or any associated corporation that were required to be disclosed under the SFO or the GEM Listing Rules[76](index=76&type=chunk) [Convertible Securities, Warrants or Similar Rights](index=37&type=section&id=Convertible%20Securities%2C%20Warrants%20or%20Similar%20Rights) As of June 30, 2025, the Group had not issued or granted any convertible securities, warrants, or similar rights - As of June 30, 2025, the Group had not issued or granted any convertible securities, warrants, or other similar rights[77](index=77&type=chunk) [Substantial Shareholders' Interests](index=38&type=section&id=Substantial%20Shareholders'%20Interests) As of June 30, 2025, Yancheng Port Overseas held **57.46%** of the Company's shares, with Dafeng Port (Hong Kong) and its related entities holding a combined **74.97%** Substantial Shareholders' Holdings (As of June 30, 2025) | Shareholder Name | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Company's Issued Share Capital | | :--- | :--- | :--- | :--- | | Yancheng Port Overseas | Beneficial Owner | 740,040,000 (L) | 57.46% | | Dafeng Port (Hong Kong) | Interest of Controlled Corporation + Beneficial Owner | 965,575,000 (L) | 74.97% | | Dafeng Port Development Group | Interest of Controlled Corporation | 965,575,000 (L) | 74.97% | | Jiangsu Yancheng | Interest of Controlled Corporation | 965,575,000 (L) | 74.97% | | Yancheng Municipal People's Government | Interest of Controlled Corporation | 965,575,000 (L) | 74.97% | - Dafeng Port Development Group, Jiangsu Yancheng, and Yancheng Municipal People's Government are deemed to have interests in the Company's shares held by Yancheng Port Overseas and Dafeng Port (Hong Kong)[82](index=82&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=39&type=section&id=Purchase%20Sale%20or%20Redemption%20of%20Listed%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any of its listed securities during the period - During the period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[81](index=81&type=chunk) [Corporate Governance](index=40&type=section&id=Corporate%20Governance) The Board believes it operates independently despite the controlling shareholder's competing business, and the Company has complied with all Corporate Governance Code provisions - The controlling shareholder, Dafeng Port Development Group, engages in competing businesses involving various goods trading, but the Board believes their business focus differs and does not pose a significant competitive threat to the Group[83](index=83&type=chunk) - The Board believes it operates independently from Dafeng Port Development Group, as directors are prohibited from voting on conflict of interest matters and are fully aware of their fiduciary duties[84](index=84&type=chunk) - The Company has adopted a code of conduct for directors' securities transactions, and no non-compliance was found during the period[86](index=86&type=chunk) - The Company has complied with all code provisions of the Corporate Governance Code during the period and will continue to review and enhance its corporate governance standards[87](index=87&type=chunk) [Board Information](index=42&type=section&id=Board%20Information) This section provides details on the Audit Committee's composition and responsibilities, along with an acknowledgment from the Board Chairman and the current Board composition [Audit Committee](index=42&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviewed the interim financial statements and found them compliant with accounting standards and legal requirements - The Audit Committee was established on August 3, 2013, and comprises three independent non-executive directors: Mr. Liu Hon Kee (Chairman), Mr. Yu Xugang, and Ms. Xu Jingyang[88](index=88&type=chunk) - The Audit Committee's primary responsibilities include providing recommendations on the appointment and removal of external auditors, reviewing financial statements, and overseeing the Group's internal control procedures and risk management system[88](index=88&type=chunk) - The interim financial statements have not been audited by the Company's auditors but have been reviewed by the Audit Committee and are considered to comply with applicable accounting standards, GEM Listing Rules, and legal requirements[88](index=88&type=chunk) [Acknowledgement and Board Composition](index=42&type=section&id=Acknowledgement%20and%20Board%20Composition) Board Chairman Mr. Lu Shuai extends gratitude to all management, staff, business partners, customers, and shareholders, and the Board currently comprises three executive, one non-executive, and three independent non-executive directors - Board Chairman Mr. Lu Shuai, on behalf of the Board, extends gratitude to all management, staff, business partners, customers, and shareholders[89](index=89&type=chunk)[90](index=90&type=chunk) Board Member Composition (As of the date of this announcement) | Category | Name | | :--- | :--- | | Executive Directors | Mr. Lu Shuai (Chairman), Ms. Yuan Xin (Vice Chairman), Mr. Ji Yaosheng | | Non-executive Director | Mr. Ding Anguang | | Independent Non-executive Directors | Mr. Liu Hon Kee, Mr. Yu Xugang, Ms. Xu Jingyang |

承董事會命 鹽城港國際股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本 公告之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示 概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何 損失承擔任何責任。 Yancheng Port International Co., Limited 鹽 城 港 國 際 股 份 有 限 公 司 (於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ) （股份代號：8310） 董 事 會 會 議 通 告 鹽城港國際股份有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈， 董事會會議將於二零二五年八月二十六日（星期二）舉行，以（其中包括） 考 慮及 批 准 本公 司 及 其附 屬 公 司截 至 二 零二 五 年 六月 三十 日 止 的 六 個月 中 期業績，以及考慮派付中期股息（如有）。 主席 陸帥 香港，二零二五年八月十四日 於本公告日期，董事會由以下成員組成： | 執行董事 | | 非執行董事 | 獨立非執行董事 | | --- | --- | --- | --- | | 陸帥先生 | （主席） | 丁安廣先 ...

Group 1 - Yancheng Port (08310) announced that Zhou Zhengxiong has resigned as non-executive director, chairman of the board, and chairman of the nomination committee effective from August 1, 2025 [1] - Lu Shuai has been appointed as executive director, chairman of the board, and chairman of the nomination committee [1]

Group 1 - Yancheng Port (08310) announced that Zhou Zhengxiong has resigned as non-executive director and chairman of the board, as well as chairman of the nomination committee, effective from August 1, 2025 [1] - Lu Shuai has been appointed as executive director, chairman of the board, and chairman of the nomination committee [1]

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) 監管表格 上市申請表格 G 表格 GEM 公司資料報表 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： 鹽城港國際股份有限公司 FF003G 證券代號（普通股）： 8310 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。 本報表的資料乃於 2025 年 8 月 1 日更新。 A. 一般資料 註冊成立地點： 開曼群島 在 GEM 首次上市日期： 2013 年 8 月 22 日 | 董事姓名： | | 執行董事： | | --- | --- | --- | | （請列明董事的身份 ...

陸 帥先生 （主席） 袁 欣女士 （副主席） 季曜盛先生 非執行董事 丁安廣先生 獨立非執行董事 Yancheng Port International Co., Limited 鹽 城 港 國 際 股 份 有 限 公 司 （於開曼群島註冊成立的有限公司） （｢本公司｣） 董事名單及其職責與職能 本公司董事會（｢董事會｣）各董事（｢董事｣）的名單如下： 執行董事 審核委員會 劉漢基先生 （主席） 于緒剛先生 許靜洋女士 薪酬委員會 許靜洋女士 （主席） 劉漢基先生 季曜盛先生 提名委員會 陸 帥先生 （主席） 劉漢基先生 許靜洋女士 香港，2025 年 8 月 1 日 劉漢基先生 于緒剛先生 許靜洋女士 本公司共設有三個董事會委員會，成員如下： ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 Yancheng Port International Co., Limited 鹽城港國際股份有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8310） (1) 非 執 行 董 事 辭 任； (2) 委 任 執 行 董 事；及 鹽城港國際股份有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事（「董 事」）會（「董事會」）宣佈，自二零二五年八月一日起，周正雄先生（「周先生」）已辭任 非執行董事。周先生辭任後，彼亦辭任董事會主席及本公司提名委員會（「提名委員 會」）主席。 周先生辭任乃因其與本公司控股股東江蘇鹽城港控股集團有限公司（「江蘇鹽城」）的 工作調整。周先生已確認，彼與董事會之間並無意見分歧，亦無有關彼辭任之其他 事宜須促請本公司股東（「股東」）及香港聯合交易所有限公司（「聯交所」）垂注。 董事會謹此對周先生於任內對本公司之貢獻致以衷心感謝。 – 1 – 委任執行董事 ...

致：香港交易及結算所有限公司 公司名稱: 鹽城港國際股份有限公司(於開曼群島註冊成立之有限公司) 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 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7月31日 狀態: 新提交 | 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) | 08310 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | 本 ...

Company Overview - Yancheng Port International Co., Ltd. primarily engages in trade, providing comprehensive logistics handling and related support services, as well as storage for petrochemical products [3] - The company's main business activities are categorized into: 1. Trade business 2. Comprehensive logistics handling and related support services 3. Storage of petrochemical products [3] Financial Performance - As of December 31, 2024, Yancheng Port reported total operating revenue of 724 million yuan, a year-on-year decrease of 32.49% [2] - The net profit attributable to the parent company was -41.7551 million yuan, reflecting a year-on-year decline of 182.41% [2] - The gross profit margin stood at 0.98%, while the debt-to-asset ratio was 255.63% [2] Market Position - Over the past month, Yancheng Port has experienced a cumulative decline of 8.14%, matching its year-to-date decline, which underperformed the Hang Seng Index's increase of 22.58% [2] - Currently, there are no institutional investment ratings for Yancheng Port [3] - The company's price-to-earnings ratio is -11.28, ranking 32nd in its industry, while the average price-to-earnings ratio for the industrial support sector is 16.55 [3]