股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: HM International Holdings Limited 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 FF301 | 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) | 08416 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 ...

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，概不對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。 HM International Holdings Limited 8416 補充公告 須予披露交易 出售一家附屬公司 茲提述本公司日期為2025年9月1日的公告，內容有關出售事項（「該公告」）。除另有界定 者或文義另有所指外，本公告所用詞彙與該公告所界定者具有相同涵義。 於評估代價時，本公司參考（其中包括）香港同類上市公司附屬公司的經調整市盈率。該 等公司乃根據以下標準甄選： (i) 具有可資比較業務範圍及規模，並主要於香港從事財經印刷服務的公司； (ii) 該等公司的控股公司之股份於聯交所上市； (iii) 該等公司的控股公司具有與本公司可資比較的市值，並少於150百萬港元。 基於上述標準，本公司已識別三家可資比較公司，其中兩家該等可資比較公司的上市控 股公司於最近期經審核財政年度錄得虧損，與本公司狀況相近。餘下一家上市控股公司 的市盈率為24。透過於出售事項後就目標公司的非上市地位應用70%之折讓 ...

Group 1 - The company HM International Holdings (08416) announced the sale of 70% of its equity interest in i.Link Group Limited to Trump Ever Limited for HKD 5.1 million, with the transaction completed on September 1, 2025 [1] - Following the transaction, the company will no longer hold any interest in i.Link Group Limited, and the financial results of the target company will not be consolidated into the group's financial statements [1] - i.Link Group Limited, established in Hong Kong in September 2007, primarily provides financial printing services, marketing collateral printing services, and design solutions [1] Group 2 - The group anticipates facing challenges in its business in 2024 due to economic uncertainties, leading to reduced spending on printing services by listed companies and financial institutions [1] - The expansion of the paperless listing system in Hong Kong is expected to further shrink the financial printing services market in the near future [1] - The sale provides the group with an opportunity to liquidate its investment in the target company and streamline its operations, while the group will remain vigilant for future investment opportunities [1]

Core Viewpoint - HM International Holdings (08416.HK) has entered into a conditional sale agreement to sell 70% of its stake in i.Link Group Limited for HKD 5.1 million, resulting in the company no longer holding any interest in the target company [1] Group 1: Transaction Details - The buyer, Trump Ever Limited, is an independent third party, and the transaction was completed on September 1, 2025 [1] - Following the completion of the transaction, the financial status and operating performance of i.Link Group Limited will no longer be included in HM International Holdings' financial statements [1] Group 2: Company Background - HM International Holdings primarily provides financial printing services, marketing collateral printing projects, value-added new media services, and comprehensive printing services to various corporate clients in Hong Kong [1] - The company offers a wide range of services, including financial printing for companies listed on the Hong Kong Stock Exchange and marketing collateral for fund and insurance companies, and is actively seeking to enhance its products and services to improve overall competitiveness [1] Group 3: Previous Acquisition - In August 2020, the company acquired a 70% stake in the target company to align with its business focus and future development strategy, aiming to expand revenue sources and customer base, benefiting the company's overall business development and shareholder interests [2]

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，概不對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。 須予披露交易 出售一家附屬公司 出售事項 董事會欣然宣佈，於2025年9月1日（交易時段後），買方（獨立第三方）與賣方 （本公司之間接全資附屬公司）訂立買賣協議，據此，買方有條件同意收購，而賣 方有條件同意出售銷售股份, 佔目標公司全部已發行股本的70%（即本集團於目標公 司的全部權益），以及銷售貸款，代價為5,100,000港元。 本交易已於同日完成，交易完成後，本集團將不再擁有目標公司的任何權益，且目 標公司將不再為本公司的附屬公司。目標公司的財務狀況及經營業績將不再併入本 集團的財務報表。 GEM上市規則的涵義 由於一項或多項適用百分比率 （根據GEM上市規則第19.07條計算）高於5%但低於 25%，故根據GEM上市規則第十九章，出售事項構成本公司的須予披露交易，因此 須遵守報告及公佈規定，惟獲豁免遵守通函及股東批准規定。 - 1 - 出售事項 董事會欣然宣佈，於2025年9月1日（交易時段後） ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: HM International Holdings Limited 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08416 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD ...

HM International Holdings Limited (Incorporated in Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code 股份代號：8416） NOTIFICATION LETTER 通知信函 Dear Registered Shareholders. 22 August 2025 HM International Holdings Limited (the "Company") – Notice of publication of Interim Report 2025 (the "Current Corporate Communication") on website The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at (https://www.hetermedia.com/zh-hant/inv ...

NOTIFICATION LETTER 通知信函 Dear Non-registered Holder(s)(Note 1) , HM International Holdings Limited (the "Company") - Notice of publication of Interim Report 2025 (the "Current Corporate Communication") HM International Holdings Limited (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code 股份代號：8416） The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at https://www.hetermedia.com/zh-hant/investors/ and t ...

Company Information and Disclaimer [Company Overview](index=1&type=section&id=Company%20Overview) This report is the 2025 interim report for HM International Holdings Limited (Stock Code: 8416), a company incorporated in the Cayman Islands - Company Name: HM International Holdings Limited, Stock Code: **8416**[1](index=1&type=chunk) - Report Type: **2025 Interim Report**[1](index=1&type=chunk) [GEM Market Characteristics and Disclaimer](index=2&type=section&id=GEM%20Market%20Characteristics%20and%20Disclaimer) The GEM market provides a listing platform for high-risk small and medium-sized companies, requiring investors to carefully consider potential risks, and the Stock Exchange is not responsible for this report's content, with the Board confirming its accuracy and completeness - GEM market is positioned as a listing market for high-investment-risk small and medium-sized companies[2](index=2&type=chunk) - The Stock Exchange takes no responsibility for the contents of this report, and the Board confirms the information is accurate and complete[3](index=3&type=chunk) Interim Financial Results [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 company's revenue decreased by 15.7% year-on-year, but profit for the period increased by 28.1%, mainly due to a significant increase in other income and gains Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30) | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 78,465 | 93,109 | -15.7% | | Cost of sales | (46,012) | (55,103) | -16.5% | | Gross profit | 32,453 | 38,006 | -14.6% | | Other income and gains | 3,556 | 451 | +688.5% | | Selling expenses | (5,591) | (5,725) | -2.3% | | Administrative expenses | (22,256) | (26,934) | -17.3% | | Finance costs | (493) | (409) | +20.5% | | Profit before tax | 7,669 | 5,389 | +42.3% | | Income tax expense / (credit) | (407) | 277 | -246.6% | | Profit for the period | 7,262 | 5,666 | +28.1% | | Total comprehensive income for the period | 6,845 | 5,665 | +20.8% | | Profit for the period attributable to owners of the Company | 7,537 | 5,192 | +45.2% | | Basic and diluted earnings per share (HK cents) | 1.79 | 1.23 | +45.5% | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total assets and total equity both increased, with a significant rise in net current assets and a healthy current ratio Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Non-current assets | 21,360 | 24,539 | -13.0% | | Current assets | 109,815 | 97,028 | +13.2% | | Total assets | 131,175 | 121,567 | +7.9% | | **Liabilities** | | | | | Current liabilities | 38,704 | 36,117 | +7.2% | | Non-current liabilities | 12,848 | 12,922 | -0.6% | | **Equity** | | | | | Net assets | 79,623 | 72,528 | +9.8% | | Equity attributable to owners of the Company | 80,181 | 76,734 | +4.5% | | Non-controlling interests | (558) | (4,206) | +86.7% | | Total equity | 79,623 | 72,528 | +9.8% | - Net current assets increased from **HK$60,911 thousand** as of December 31, 2024, to **HK$71,111 thousand** as of June 30, 2025[7](index=7&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 of the Company increased, primarily due to profit for the period and the acquisition of non-controlling interests - Equity attributable to owners of the Company increased from **HK$76,734 thousand** at the beginning of the year to **HK$80,181 thousand** as of June 30, 2025[9](index=9&type=chunk) - Profit for the period was **HK$7,537 thousand**, with exchange differences arising from translation of overseas operations of **(HK$416) thousand**[9](index=9&type=chunk) - In June 2025, the Group acquired the remaining **49%** equity interest in its indirect subsidiary Tilt Pte. Ltd. for **S$100**, resulting in a difference between the carrying amount of non-controlling interests and the consideration paid of approximately **HK$3.9 million** transferred to retained earnings[9](index=9&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, cash flow from operating activities turned positive, with a net increase in cash and cash equivalents, and the period-end cash balance remained stable Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (HK$ Thousand) | | :--- | :--- | :--- | :--- | | Net cash generated from / (used in) operating activities | 3,155 | (6,129) | +9,284 | | Net cash used in investing activities | (102) | (7,867) | +7,765 | | Net cash used in financing activities | (2,654) | (14,575) | +11,921 | | Net increase / (decrease) in cash and cash equivalents | 399 | (28,571) | +28,970 | | Cash and cash equivalents at end of period | 64,833 | 62,006 | +2,827 | Notes to the Financial Statements [General Information and Accounting Policies](index=9&type=section&id=General%20Information%20and%20Accounting%20Policies) The company, incorporated in the Cayman Islands, primarily provides integrated printing services including financial printing, marketing collateral printing, and other services, with financial statements prepared under HKAS 34 and GEM Listing Rules, reviewed but unaudited - The Company was incorporated in the Cayman Islands on January 13, 2016, primarily engaged in providing integrated printing services[11](index=11&type=chunk) - The financial statements have been prepared in accordance with HKAS 34 and the GEM Listing Rules, and have been reviewed but not audited by the auditors[12](index=12&type=chunk)[13](index=13&type=chunk) [Revenue Analysis](index=10&type=section&id=Revenue%20Analysis) For the six months ended June 30, 2025, total revenue was HK$78,465 thousand, a 15.7% year-on-year decrease, mainly due to reduced revenue from financial printing and marketing collateral printing services Revenue Composition (For the six months ended June 30) | Service Type | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Provision of financial printing services | 59,455 | 71,658 | -17.0% | | Provision of marketing collateral printing services | 7,254 | 9,609 | -24.5% | | Provision of other services | 11,756 | 11,842 | -0.7% | | **Total Revenue** | **78,465** | **93,109** | **-15.7%** | [Segment Information and Major Customers](index=10&type=section&id=Segment%20Information%20and%20Major%20Customers) The Group operates in a single segment, integrated printing services, with most revenue, assets, and liabilities derived from Hong Kong, and no single customer contributed over 10% of revenue during the reporting period - The Group has only one operating segment, which is the provision of integrated printing services[16](index=16&type=chunk) - The majority of the Group's revenue, assets, and liabilities are located in Hong Kong[16](index=16&type=chunk) - For the period ended June 30, 2025, no single customer contributed more than **10%** of the Group's revenue[17](index=17&type=chunk) [Income Tax](index=11&type=section&id=Income%20Tax) For the six months ended June 30, 2025, income tax expense was HK$407 thousand, compared to a HK$277 thousand credit in the prior year, mainly due to changes in Hong Kong profits tax and deferred tax credit Income Tax Expense/(Credit) (For the six months ended June 30) | Tax Type | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Hong Kong profits tax - current period | 407 | 488 | | PRC enterprise income tax - current period | - | 4 | | Deferred tax credit - current period | - | (769) | | **Total income tax expense / (credit) recognized in profit or loss** | **407** | **(277)** | - Hong Kong profits tax is calculated at **8.25%** on the first **HK$2,000,000** of assessable profits and **16.5%** on the remaining amount[18](index=18&type=chunk) [Components of Profit for the Period](index=12&type=section&id=Components%20of%20Profit%20for%20the%20Period) Profit for the period was net of various expenses, with total employee benefit expenses decreasing year-on-year, but impairment loss provision for trade receivables significantly increasing Profit for the Period Deductions (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (HK$ Thousand) | | :--- | :--- | :--- | :--- | | Total employee benefit expenses | 33,833 | 37,296 | -3,463 | | Auditor's remuneration | 401 | 354 | +47 | | Depreciation of property, plant and equipment | 1,316 | 667 | +649 | | Depreciation of right-of-use assets | 2,114 | 5,954 | -3,840 | | Impairment loss provision for trade receivables | 2,646 | 177 | +2,469 | [Dividend Policy](index=12&type=section&id=Dividend%20Policy) The Board does not recommend paying any dividend for the six months ended June 30, 2025, consistent with the prior year - The Board does not recommend the payment of any dividend for the six months ended June 30, 2025[20](index=20&type=chunk) [Earnings Per Share](index=13&type=section&id=Earnings%20Per%20Share) For the six months ended June 30, 2025, basic and diluted earnings per share were 1.79 HK cents, an increase from 1.23 HK cents in the prior year, with diluted earnings per share not presented due to the absence of potential ordinary shares Earnings Per Share (For the six months ended June 30) | Indicator | 2025 | 2024 | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Profit attributable to owners of the Company (HK$ Thousand) | 7,537 | 5,192 | +45.2% | | Weighted average number of ordinary shares (Thousand shares) | 421,215 | 421,215 | 0% | | Basic and diluted earnings per share (HK cents) | 1.79 | 1.23 | +45.5% | - No diluted earnings per share are presented for the six months ended June 30, 2025 and 2024, as there were no potential ordinary shares[21](index=21&type=chunk) [Trade and Other Receivables](index=14&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables were HK$26,991 thousand, slightly lower than at the end of 2024, with the impairment loss provision for trade receivables significantly increasing Trade and Other Receivables (As of June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (HK$ Thousand) | | :--- | :--- | :--- | :--- | | Trade receivables (before provision) | 24,565 | 22,382 | +2,183 | | Less: Impairment loss provision | (3,547) | (870) | -2,677 | | Other receivables and prepayments | 5,973 | 6,363 | -390 | | **Total** | **26,991** | **27,875** | **-884** | - Ageing analysis of trade receivables shows an increase in amounts aged **0 to 30 days**, while amounts over **365 days** have been cleared[22](index=22&type=chunk) [Trade and Other Payables](index=15&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables were HK$26,557 thousand, an increase from the end of 2024, mainly due to growth in trade payables Trade and Other Payables (As of June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (HK$ Thousand) | | :--- | :--- | :--- | :--- | | Trade payables | 15,682 | 10,014 | +5,668 | | Other payables and accrued expenses | 10,336 | 11,587 | -1,251 | | Long service payment provision | 539 | 539 | 0 | | **Total** | **26,557** | **22,140** | **+4,417** | - The credit period for trade payables ranges from **30 days to 90 days**[23](index=23&type=chunk) Management Discussion and Analysis [Business Review and Outlook](index=16&type=section&id=Business%20Review%20and%20Outlook) The Group primarily provides integrated printing services to Hong Kong financial and capital market clients, with revenue decreasing by 15.7% year-on-year, but the company is confident in its core business resilience and plans to expand into China and Southeast Asian markets - The Group primarily provides integrated printing services to corporate clients in Hong Kong's financial and capital markets[24](index=24&type=chunk) - For the six months ended June 30, 2025, revenue decreased by **15.7%** to **HK$78.47 million** year-on-year, mainly due to fewer work orders from several major clients[24](index=24&type=chunk) - Looking ahead, the Group plans to expand its existing business, focusing particularly on the China and Southeast Asian markets, and explore complementary business opportunities[25](index=25&type=chunk) [Business Review](index=16&type=section&id=Business%20Review) The Group offers financial printing, marketing collateral printing, and other services, and despite revenue decline, the company maintains a solid customer base, reflecting client recognition of its quality services - The Group provides financial printing services, marketing collateral printing services, and other services[24](index=24&type=chunk) - Revenue decreased by approximately **15.7%**, but the Company maintains a solid and continuously transacting customer base[24](index=24&type=chunk) [Outlook](index=16&type=section&id=Outlook) Management is confident in the resilience of its core business, will closely monitor market trends, and plans to enhance competitive advantages by expanding existing operations and exploring new opportunities, especially in China and Southeast Asia - Management is confident in the resilience and sustainability of its core business, will closely monitor market trends, and regularly review the Group's policies[25](index=25&type=chunk) - Strategic focus is on expanding existing business, particularly concentrating on development in China and Southeast Asian markets, while exploring complementary business opportunities[25](index=25&type=chunk) [Financial Review](index=17&type=section&id=Financial%20Review) The financial review indicates that despite a revenue decline, gross profit margin slightly improved, other income and gains significantly increased due to exchange gains, administrative expenses substantially decreased, ultimately driving a 28.1% year-on-year increase in profit for the period - Revenue decreased by **15.7%** year-on-year, mainly affected by reduced financial printing and marketing collateral printing projects[26](index=26&type=chunk) - Gross profit margin increased from **40.8%** to **41.4%**[27](index=27&type=chunk) - Profit for the period increased by **28.1%** year-on-year to **HK$7.26 million**[33](index=33&type=chunk) [Revenue](index=17&type=section&id=Revenue) For the six months ended June 30, 2025, total revenue was HK$78.47 million, a 15.7% year-on-year decrease, primarily due to reductions of HK$12.20 million and HK$2.36 million in financial printing and marketing collateral printing projects, respectively Revenue Composition (For the six months ended June 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (HK$ Thousand) | | :--- | :--- | :--- | :--- | | Financial printing projects | 59,455 | 71,658 | -12,203 | | Marketing collateral printing projects | 7,254 | 9,609 | -2,355 | | Other projects | 11,756 | 11,842 | -86 | | **Total** | **78,465** | **93,109** | **-14,644** | [Gross Profit and Gross Profit Margin](index=17&type=section&id=Gross%20Profit%20and%20Gross%20Profit%20Margin) Gross profit decreased by 14.6% year-on-year to HK$32.45 million, but the gross profit margin slightly increased from 40.8% to 41.4% - Gross profit decreased by **14.6%** to **HK$32.45 million**[27](index=27&type=chunk) - Gross profit margin increased from **40.8%** in 2024 to **41.4%** in 2025[27](index=27&type=chunk) [Other Income and Gains](index=17&type=section&id=Other%20Income%20and%20Gains) Other income and gains significantly increased by approximately HK$3.11 million, primarily attributable to exchange gains of approximately HK$2.68 million from the appreciation of the Singapore Dollar and Euro - Other income and gains increased by approximately **HK$3.11 million**[28](index=28&type=chunk) - Mainly due to exchange gains of approximately **HK$2.68 million** arising from the appreciation of the Singapore Dollar and Euro[28](index=28&type=chunk) [Selling Expenses](index=18&type=section&id=Selling%20Expenses) Selling expenses slightly decreased by 2.3% year-on-year to HK$5.59 million - Selling expenses decreased by approximately **HK$0.13 million** or **2.3%** to **HK$5.59 million**[29](index=29&type=chunk) [Administrative Expenses](index=18&type=section&id=Administrative%20Expenses) Administrative expenses significantly decreased by 17.3% year-on-year to HK$22.26 million, mainly due to reduced staff costs and depreciation of right-of-use assets, partially offset by an increased impairment loss provision for trade receivables - Administrative expenses decreased by approximately **HK$4.67 million** or **17.3%** to **HK$22.26 million**[30](index=30&type=chunk) - The decrease was mainly due to reduced staff costs and depreciation of right-of-use assets, partially offset by an increased impairment loss provision for trade receivables[30](index=30&type=chunk) [Finance Costs](index=18&type=section&id=Finance%20Costs) Finance costs slightly increased by approximately HK$0.08 million year-on-year to HK$0.49 million, primarily due to increased interest expenses on lease liabilities - Finance costs slightly increased by approximately **HK$0.08 million** to **HK$0.49 million**[31](index=31&type=chunk) - The increase was mainly due to increased interest expenses on lease liabilities[31](index=31&type=chunk) [Tax](index=18&type=section&id=Tax) Income tax changed from a HK$0.28 million credit in the prior year to a HK$0.41 million expense in the current period, an increase of approximately HK$0.69 million - Income tax expense increased from a **HK$0.28 million** credit for the six months ended June 30, 2024, to a **HK$0.41 million** expense for the same period in 2025[32](index=32&type=chunk) [Profit for the Period](index=18&type=section&id=Profit%20for%20the%20Period) The Group's profit after tax increased by 28.1% year-on-year to HK$7.26 million - The Group's profit after tax increased by approximately **HK$1.59 million** or **28.1%** to **HK$7.26 million**[33](index=33&type=chunk) [Dividends](index=18&type=section&id=Dividends) The Board does not recommend paying any dividend for the review period - The Board does not recommend the payment of any dividend for the review period[34](index=34&type=chunk) [Staff and Remuneration Policy](index=19&type=section&id=Staff%20and%20Remuneration%20Policy) As of June 30, 2025, the Group employed 154 staff globally, with total staff costs decreasing year-on-year, and the company incentivizes and retains employees through share option and share award schemes Employee Headcount (As of June 30) | Region | 2025 | 2024 | | :--- | :--- | :--- | | Hong Kong | 115 | 117 | | China | 11 | 9 | | Taiwan | 20 | 20 | | Singapore | 8 | 9 | | **Total** | **154** | **155** | - For the review period, total staff costs (including directors' emoluments) were approximately **HK$33.8 million**, a decrease from **HK$37.3 million** in the prior year[35](index=35&type=chunk) - The Group has adopted a share option scheme and a share award scheme to incentivize and retain eligible employees[35](index=35&type=chunk)[36](index=36&type=chunk) [Financial Resources, Liquidity and Gearing Ratio](index=20&type=section&id=Financial%20Resources%2C%20Liquidity%20and%20Gearing%20Ratio) As of June 30, 2025, the Group's total assets and total equity both increased, with a healthy current ratio of 2.8 times and a gearing ratio reduced to 19.9% Financial Resources Overview (As of June 30) | Indicator | 2025 (HK$ Million) | 2024 (HK$ Million) | Change (%) | | :--- | :--- | :--- | :--- | | Total assets | 131.2 | 121.6 | +7.9% | | Total equity | 79.6 | 72.5 | +9.8% | | Current assets | 109.8 | 97.0 | +13.2% | | Current liabilities | 38.7 | 36.1 | +7.2% | | Cash and bank balances | 64.8 | 64.6 | +0.3% | | Current ratio | 2.8 times | 2.7 times | +3.7% | | Gearing ratio | 19.9% | 24.8% | -19.8% | - Cash and bank balances include **RMB6.3 million**, **US$0.6 million**, **NT$0.7 million**, **S$0.1 million**, and **Euro2.0 million**[37](index=37&type=chunk) [Risk Management and Commitments](index=21&type=section&id=Risk%20Management%20and%20Commitments) The Group's primary business is in Hong Kong, with transactions denominated in HKD, so foreign exchange risk is not significant, and there were no asset pledges, significant investments, contingent liabilities, or material capital commitments during the reporting period, with no significant events occurring after the review period - The Group's business is primarily operated in Hong Kong, with trading transactions mainly denominated in HKD, and foreign exchange risk is not significant[38](index=38&type=chunk) - As of June 30, 2025, the Group had no pledged assets, no significant investments, acquisitions or disposals, no material contingent liabilities, and no material capital commitments[39](index=39&type=chunk)[40](index=40&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk) - No significant events affecting the Group occurred after the review period and up to the date of this report[43](index=43&type=chunk) [Foreign Exchange Risk](index=21&type=section&id=Foreign%20Exchange%20Risk) The Group's business is primarily in Hong Kong, with transactions denominated in HKD, and only a small portion of bank deposits in other foreign currencies, so directors consider foreign exchange risk not significant, with no hedging arrangements currently in place - The Group's business is primarily operated in Hong Kong, with trading transactions mainly denominated in HKD[38](index=38&type=chunk) - The Directors believe that the Group's operating cash flows and liquidity are not exposed to significant foreign exchange rate risk, and no hedging arrangements were made during the review period[38](index=38&type=chunk) [Indebtedness and Pledge of Assets](index=21&type=section&id=Indebtedness%20and%20Pledge%20of%20Assets) As of June 30, 2025, the Group had not pledged any assets as collateral for general banking facilities - As of June 30, 2025, the Group had not pledged any assets as collateral for general banking facilities[39](index=39&type=chunk) [Material Investments, Acquisitions or Disposals](index=21&type=section&id=Material%20Investments%2C%20Acquisitions%20or%20Disposals) As of June 30, 2025, the Group held no material investments, material acquisitions, or disposals of subsidiaries - As of June 30, 2025, the Group held no material investments, material acquisitions, or disposals of subsidiaries[40](index=40&type=chunk) [Contingent Liabilities](index=21&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no material contingent liabilities - As of June 30, 2025, the Group had no material contingent liabilities[41](index=41&type=chunk) [Capital Commitments](index=21&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group had no material capital commitments - As of June 30, 2025, the Group had no material capital commitments[42](index=42&type=chunk) [Significant Events After Review Period](index=22&type=section&id=Significant%20Events%20After%20Review%20Period) No significant events affecting the Group occurred after the review period and up to the date of this report - No significant events affecting the Group occurred after the review period and up to the date of this report[43](index=43&type=chunk) [General Commitments](index=22&type=section&id=General%20Commitments) As of June 30, 2025, no commitments were reported - As of June 30, 2025, no commitments were reported[44](index=44&type=chunk) Other Information [Directors' and Chief Executive's Interests](index=22&type=section&id=Directors'%20and%20Chief%20Executive's%20Interests) As of June 30, 2025, Mr. Yu Chi Ming and Mr. Chan Wai Lim jointly held 51.67% of the company's shares through HM Ultimate Holdings Limited, while Ms. Chan Wai Chung beneficially owned 2.54% of shares Directors' Long Position in the Company's Shares (As of June 30, 2025) | Name of Director | Nature of Interest | Number of Ordinary Shares | Percentage | | :--- | :--- | :--- | :--- | | Mr. Yu Chi Ming | Jointly held interest with other persons; interest held by controlled corporation | 217,760,000 | 51.67% | | Mr. Chan Wai Lim | Jointly held interest with other persons; interest held by controlled corporation | 217,760,000 | 51.67% | | Ms. Chan Wai Chung | Beneficial owner | 10,700,000 | 2.54% | - Mr. Yu Chi Ming and Mr. Chan Wai Lim beneficially own **70.2%** and **29.8%** respectively of HM Ultimate Holdings Limited, jointly controlling its **217,760,000** shares[45](index=45&type=chunk) Directors' Long Position in Shares of Associated Corporations (As of June 30, 2025) | Name of Director | Name of Associated Corporation | Nature of Interest | Number of Ordinary Shares | Percentage | | :--- | :--- | :--- | :--- | | Mr. Yu | HM Ultimate | Beneficial owner | 702 | 70.2% | | Mr. Chan | HM Ultimate | Beneficial owner | 298 | 29.8% | [Substantial Shareholders' Interests](index=23&type=section&id=Substantial%20Shareholders'%20Interests) As of June 30, 2025, HM Ultimate Holdings Limited was the largest shareholder, holding 51.67% of shares, with spouses of Mr. Yu Chi Ming and Mr. Chan Wai Lim deemed to hold the same shares due to spousal interest, and Mr. Tse Kam Wing and his spouse also holding 17.15% of shares Substantial Shareholders' Long Position in the Company's Shares (As of June 30, 2025) | Name of Shareholder / Person | Nature of Interest | Number of Ordinary Shares | Percentage | | :--- | :--- | :--- | :--- | | HM Ultimate | Beneficial owner | 217,760,000 | 51.67% | | Ms. Wong Mei Chi (spouse of Mr. Yu) | Interest of spouse | 217,760,000 | 51.67% | | Ms. Tang Wai Kwan (spouse of Mr. Chan) | Interest of spouse | 217,760,000 | 51.67% | | Mr. Tse Kam Wing | Beneficial owner | 72,285,000 | 17.15% | | Ms. Wong Yuk Cham (spouse of Mr. Tse) | Interest of spouse | 72,285,000 | 17.15% | [Share Option Scheme](index=24&type=section&id=Share%20Option%20Scheme) The company adopted a share option scheme on December 15, 2016, to reward eligible participants contributing to the Group, with the scheme having a ten-year validity and a maximum of 40,000,000 shares issuable, and no options were granted or exercised during the review period - The Share Option Scheme was adopted on December 15, 2016, to reward eligible participants who have contributed to the Group[49](index=49&type=chunk) - The total number of shares that may be issued under the scheme shall not exceed **40,000,000 shares** in aggregate[51](index=51&type=chunk) - No share options were granted or exercised, and no outstanding share options existed under the Share Option Scheme during the review period[51](index=51&type=chunk) [Share Award Scheme](index=25&type=section&id=Share%20Award%20Scheme) The company adopted a share award scheme on July 4, 2022, to recognize, reward, and retain employees contributing to the Group's business growth, with the scheme having a ten-year validity and total awarded shares not exceeding 10% of issued shares at adoption, and no new shares were awarded during the review period, but some vested and lapsed - The Share Award Scheme was adopted on July 4, 2022, to recognize, reward, and retain eligible participants[52](index=52&type=chunk) - The total number of shares awarded shall not exceed **10%** of the total issued shares at the adoption date[53](index=53&type=chunk) Share Award Scheme Vesting Status (As of June 30, 2025) | Category of Participants | Unvested as at January 1, 2025 (Shares) | Vested as at June 30, 2025 (Shares) | Lapsed as at June 30, 2025 (Shares) | Unvested as at June 30, 2025 (Shares) | | :--- | :--- | :--- | :--- | :--- | | Executive Director (Ms. Chan Wai Chung) | 2,650,000 | 2,650,000 | – | – | | Other Employees (14) | 11,620,000 | 10,915,000 | 705,000 | – | | **Total** | **14,270,000** | **13,565,000** | **705,000** | **–** | - Vesting conditions for awarded shares include continued contribution to the Group's business, demonstrated in-service performance, and achievement of performance targets favorable to the Group's operational development[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) [Share Dealings and Corporate Governance](index=29&type=section&id=Share%20Dealings%20and%20Corporate%20Governance) Neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities during the review period, and the company complies with the Corporate Governance Code, with directors and controlling shareholders having no competing business interests, and directors and relevant employees adhering to securities dealing standards - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the review period[64](index=64&type=chunk) - The Company has complied with all code provisions of the Corporate Governance Code set out in Appendix C1 to the GEM Listing Rules[66](index=66&type=chunk) - The Directors, the Company's management, and controlling shareholders were not involved in any business directly or indirectly competing with the Group's business during the review period[67](index=67&type=chunk) - Directors and relevant employees have complied with the required standard of dealings in securities and the written guidelines for employees[68](index=68&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Shares](index=29&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Shares) During the review period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - During the review period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[64](index=64&type=chunk) [Corporate Governance](index=29&type=section&id=Corporate%20Governance) The company has applied and complied with all code provisions of the Corporate Governance Code set out in Appendix C1 to the GEM Listing Rules - The Company has applied the Corporate Governance Code set out in Appendix C1 to the GEM Listing Rules and has complied with all code provisions[65](index=65&type=chunk)[66](index=66&type=chunk) [Directors' and Controlling Shareholders' Interests in Competing Business](index=29&type=section&id=Directors'%20and%20Controlling%20Shareholders'%20Interests%20in%20Competing%20Business) The Directors, the company's management, and controlling shareholders were not involved in any business directly or indirectly competing with the Group's business during the review period - The Directors, the Company's management, and controlling shareholders were not involved in any business directly or indirectly competing with the Group's business during the review period[67](index=67&type=chunk) [Securities Transactions by Directors and Relevant Employees](index=29&type=section&id=Securities%20Transactions%20by%20Directors%20and%20Relevant%20Employees) The company adopted the required standard of dealings as per GEM Listing Rules for directors' securities transactions and established written guidelines for employees, with all directors and employees complying with relevant regulations - The Company has adopted the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules as the code of conduct for Directors' dealings in the Company's securities[68](index=68&type=chunk) - The Directors confirm that they have complied with the required standard of dealings throughout the review period[68](index=68&type=chunk) - The Company has not identified any instances of employees violating the written guidelines for employees[68](index=68&type=chunk) [Audit Committee](index=30&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviews and oversees the company's financial reporting, risk management, and internal control systems, and has reviewed the financial statements in this interim report - The Audit Committee was established on December 15, 2016, and comprises three independent non-executive Directors[69](index=69&type=chunk) - Its primary responsibilities include reviewing and overseeing the company's financial reporting process, risk management, and internal control systems[69](index=69&type=chunk) - The Audit Committee has reviewed the unaudited condensed consolidated financial statements of the Group for the review period with management[69](index=69&type=chunk)

HM INTL HLDGS(08416)发布2025年中期业绩，收益7846.5万港元，同比减少15.73%;股东应占溢利 753.7万港元，同比增加45.17%;每股基本盈利1.79港仙。 ...