FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 華美樂樂有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08429 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 1,000,000,000 | | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | 本月底 ...

Core Viewpoint - Huameilele (08429) reported a mid-year performance for 2025, showing a revenue of HKD 69.271 million, representing a year-on-year growth of 4.3% [1] Financial Performance - The company recorded a loss attributable to shareholders of HKD 0.86 million, which is a significant improvement, narrowing by 87.1% year-on-year [1] - Basic loss per share was reported at HKD 0.18 cents [1]

Core Insights - Huameilele (08429) reported a mid-year performance for 2025, with revenue of HKD 69.271 million, representing a year-on-year increase of 4.3% [1] - The loss attributable to the company's owners was HKD 0.86 million, which narrowed by 87.1% compared to the previous year [1] - The basic loss per share was HKD 0.18 [1]

Interim Results Announcement This report provides a comprehensive overview of the company's unaudited interim financial results, management discussion, and other relevant information for the period. [Corporate Information](index=1&type=section&id=Corporate%20Information) This section outlines the company's basic information, GEM listing characteristics, and directors' responsibility for the announcement's accuracy and completeness. - The company, SV Vision Limited (stock code 8429), is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange[2](index=2&type=chunk) - The GEM market, targeting small and medium-sized companies, carries **higher investment risks** and potential for significant market volatility, with no guarantee of high liquidity[3](index=3&type=chunk) - Directors jointly and severally assume full responsibility for the announcement's content, confirming its accuracy, completeness, and absence of misleading or fraudulent elements[4](index=4&type=chunk) [Unaudited Condensed Consolidated Financial Statements](index=2&type=section&id=Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, detailing the company's financial performance and position. [Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This statement provides a summary of the company's revenues, expenses, and overall profit or loss for the reporting period. | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | Change (HKD thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 69,271 | 66,442 | 2,829 | 4.3% | | Other income and gains | 35,682 | 30,104 | 5,578 | 18.5% | | Outsourced project costs | (89,165) | (83,428) | (5,737) | 6.9% | | Loss before income tax | (922) | (6,715) | 5,793 | -86.3% | | Loss for the period | (922) | (6,770) | 5,848 | -86.4% | | Basic and diluted loss per share attributable to owners of the Company (HK cents) | (0.18) | (1.39) | 1.21 | -87.1% | [Unaudited Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This statement presents the company's assets, liabilities, and equity at a specific point in time, reflecting its financial health. | Indicator | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (HKD thousands) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Non-current assets | 37,994 | 39,626 | (1,632) | -4.1% | | Current assets | 38,078 | 27,744 | 10,334 | 37.3% | | Current liabilities | 23,215 | 23,788 | (573) | -2.4% | | Net current assets | 14,863 | 3,956 | 10,907 | 275.7% | | Net assets | 52,857 | 43,267 | 9,590 | 22.2% | | Total equity attributable to owners of the Company | 56,410 | 46,188 | 10,222 | 22.1% | [Unaudited Condensed Consolidated Statement of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) This statement details the cash inflows and outflows from operating, investing, and financing activities over the reporting period. | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | Change (HKD thousands) | | :--- | :--- | :--- | :--- | | Net cash generated from (used in) operating activities | 318 | (5,525) | 5,843 | | Net cash generated from (used in) investing activities | 170 | (166) | 336 | | Net cash generated from (used in) financing activities | 9,570 | (1,361) | 10,931 | | Increase (decrease) in cash and cash equivalents | 10,058 | (7,052) | 17,110 | | Cash and cash equivalents at end of period | 21,707 | 13,570 | 8,137 | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) This statement illustrates the changes in the company's equity components over the reporting period, including profit, other comprehensive income, and capital transactions. - As of June 30, 2025, total equity attributable to owners of the Company increased to **HKD 56,410 thousand** from HKD 46,188 thousand on January 1, 2025, mainly due to a **HKD 11,161 thousand** increase in capital reserve from a new subsidiary[11](index=11&type=chunk) - Total comprehensive loss for the period significantly narrowed from **(HKD 6,677) thousand in 2024** to **(HKD 1,009) thousand in 2025**[11](index=11&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed notes to the condensed consolidated financial statements, offering context and explanations for general information, preparation basis, revenue, expenses, tax policies, and related party transactions. [1. General Information](index=8&type=section&id=1.%20General%20Information) This section provides fundamental details about the company's incorporation and primary business activities. - The Company was incorporated in the Cayman Islands on January 20, 2017, and listed on the GEM of the Stock Exchange on December 8, 2017[12](index=12&type=chunk) - The Group's principal activities include providing marketing production services, content media, and experiential services[13](index=13&type=chunk) [2. Basis of Preparation and Presentation](index=8&type=section&id=2.%20Basis%20of%20Preparation%20and%20Presentation) This section outlines the accounting standards and principles used in preparing the financial statements. - The financial statements are prepared in accordance with Chapter 18 of the GEM Listing Rules and HKAS 34 "Interim Financial Reporting"[14](index=14&type=chunk) - Accounting policies remain consistent with the previous year, with no significant changes resulting from the adoption of new or revised HKFRSs[14](index=14&type=chunk) - The financial statements are prepared on a historical cost basis, use HKD as the functional currency, are unaudited, but have been reviewed by the audit committee[15](index=15&type=chunk) [3. Revenue and Segment Information](index=9&type=section&id=3.%20Revenue%20and%20Segment%20Information) This section details the company's revenue streams and provides a breakdown of its operating segments and geographical contributions. - The Group operates as a single segment, encompassing marketing production and content media and experiential services[16](index=16&type=chunk) Revenue by Service Category | Service Category | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Marketing Production | 13,532 | 17,397 | | Content Media and Experiential Services | 55,739 | 49,045 | | Total | 69,271 | 66,442 | - Principal operations are in Hong Kong, with non-current assets primarily located in the **US (HKD 34,559 thousand)** and **Hong Kong (HKD 3,310 thousand)**[18](index=18&type=chunk) - Revenue by customer geographical location shows **Hong Kong SAR contributing HKD 67,405 thousand** and **Mainland China HKD 1,860 thousand**[19](index=19&type=chunk) - In the first half of 2025, no single customer contributed over **10% of total revenue**, unlike the same period in 2024 where customers A, B, and C each exceeded this threshold[20](index=20&type=chunk) [4. Other Income and Gains](index=10&type=section&id=4.%20Other%20Income%20and%20Gains) This section details the various non-operating income and gains recognized by the company during the period. Other Income and Gains Breakdown | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Interest income | 180 | 41 | | Government grants and subsidies | 35,000 | 30,000 | | Miscellaneous income | 95 | 63 | | Exchange gains | 407 | — | | Total | 35,682 | 30,104 | [5. Loss Before Income Tax](index=11&type=section&id=5.%20Loss%20Before%20Income%20Tax) This section details the company's pre-tax loss and the factors influencing it, including employee benefits and tax provisions. - Loss before income tax significantly narrowed to **(HKD 922) thousand** from **(HKD 6,715) thousand** in the prior year period[5](index=5&type=chunk) - Employee benefit expenses decreased to **HKD 7,102 thousand** (2024: HKD 8,996 thousand), mainly due to reduced salaries, allowances, and benefits in kind[22](index=22&type=chunk) - No provision was made for Hong Kong profits tax during the period due to the absence of assessable profits or offset by tax losses[23](index=23&type=chunk) - Chinese subsidiaries did not generate assessable profits, resulting in no corporate income tax provision and the application of small and micro-enterprise income tax preferential policies[24](index=24&type=chunk) - Temporary withholding tax differences related to undistributed profits of Chinese subsidiaries amounted to approximately **HKD 1,239 thousand**, but no deferred tax liability was recognized due to the company's control over dividend policy[25](index=25&type=chunk) [7. Dividends](index=12&type=section&id=7.%20Dividends) This section states the board's decision regarding dividend payments for the reporting period. - For the six months ended June 30, 2025, the Board did not recommend the payment of any dividend[26](index=26&type=chunk) [8. Loss Per Share](index=13&type=section&id=8.%20Loss%20Per%20Share) This section presents the basic and diluted loss per share for the reporting period. Loss Per Share | Indicator | 2025 (HK cents) | 2024 (HK cents) | | :--- | :--- | :--- | | Basic and diluted loss per share | (0.18) | (1.39) | - Diluted loss per share is equal to basic loss per share, as there were no potential dilutive ordinary shares during the period[27](index=27&type=chunk) [9. Property, Plant and Equipment](index=13&type=section&id=9.%20Property%2C%20Plant%20and%20Equipment) This section details the company's capital expenditures on property, plant, and equipment and any related pledges. - Total cost of property, plant and equipment acquired during the period significantly decreased to approximately **HKD 10 thousand** from HKD 173 thousand in the prior year period[28](index=28&type=chunk) - As of June 30, 2025, approximately **HKD 34,198 thousand** of property, plant and equipment were pledged to secure banking facilities for a subsidiary[28](index=28&type=chunk) [10. Trade and Other Receivables, Deposits and Prepayments](index=14&type=section&id=10.%20Trade%20and%20Other%20Receivables%2C%20Deposits%20and%20Prepayments) This section provides a breakdown of the company's trade and other receivables, deposits, and prepayments, along with credit terms. Trade and Other Receivables, Deposits and Prepayments | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Trade receivables, net | 4,883 | 5,390 | | Other receivables | 7,759 | 697 | | Total current trade and other receivables, deposits and prepayments | 13,825 | 7,388 | - Customer credit terms typically range from **30 to 60 days** from the invoice date[29](index=29&type=chunk) - Trade receivables overdue for more than one month but less than three months decreased from **HKD 2,535 thousand** as of December 31, 2024, to **HKD 2,161 thousand** as of June 30, 2025[30](index=30&type=chunk) [11. Amounts Due to Non-Controlling Shareholders of a Subsidiary](index=14&type=section&id=11.%20Amounts%20Due%20to%20Non-Controlling%20Shareholders%20of%20a%20Subsidiary) This section describes the nature and terms of amounts owed to non-controlling shareholders of a subsidiary. - Amounts due to non-controlling shareholders of a subsidiary are non-trade, unsecured, interest-free, and repayable on demand[31](index=31&type=chunk) [12. Trade and Other Payables and Accrued Charges](index=15&type=section&id=12.%20Trade%20and%20Other%20Payables%20and%20Accrued%20Charges) This section details the company's trade and other payables, contract liabilities, and accrued charges, along with supplier credit terms. Trade and Other Payables and Accrued Charges | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Trade payables | 13,179 | 5,277 | | Contract liabilities | 1,120 | 2,873 | | Total (including contract liabilities) | 20,619 | 12,983 | - Supplier credit terms typically range from **30 to 90 days**[32](index=32&type=chunk) - Trade payables overdue for more than one month but less than three months significantly increased from **HKD 718 thousand** as of December 31, 2024, to **HKD 11,088 thousand** as of June 30, 2025[32](index=32&type=chunk) [13. Bank Loans](index=15&type=section&id=13.%20Bank%20Loans) This section outlines the details of the company's bank loan facilities, including amounts and terms. - In January 2025, the Group secured a new revolving loan facility of **US$2.5 million (approximately HKD 19.5 million)**, with approximately **US$0.05 million (approximately HKD 373 thousand)** already drawn[33](index=33&type=chunk) - The loan carries a variable interest rate of **0.75% above the US Prime Rate per annum** and is repayable on demand[33](index=33&type=chunk) [14. Share Capital](index=16&type=section&id=14.%20Share%20Capital) This section details the company's issued and fully paid share capital. - As of June 30, 2025, issued and fully paid share capital remained at **480,000,000 ordinary shares** of **HKD 0.01 each**, totaling **HKD 4,800 thousand**, consistent with December 31, 2024[34](index=34&type=chunk) [15. Related Party Transactions](index=16&type=section&id=15.%20Related%20Party%20Transactions) This section outlines transactions with related parties and compensation for key management personnel. Related Party Transactions | Transaction Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Short-term lease expenses paid to 4L 108 Leonard LLC | 559 | 563 | | Treasury management service fees paid to Mirousky Asia Limited | 360 | 120 | - Ms. Wu Chan Tak Che, an executive director, and her spouse are the beneficial owners of these related companies[35](index=35&type=chunk) - Total key management personnel compensation decreased to **HKD 2,319 thousand** from **HKD 2,538 thousand** in the prior year period[36](index=36&type=chunk) [Management Discussion and Analysis](index=18&type=section&id=Management%20Discussion%20and%20Analysis) This section details the Group's business performance, financial position, and future outlook for the six months ended June 30, 2025, highlighting the impact of ComplexCon Hong Kong and strategic focus on experiential services. [Business Review and Outlook](index=18&type=section&id=Business%20Review%20and%20Outlook) This section reviews the company's operational highlights, market performance, and strategic direction for future growth. - ComplexCon Hong Kong 2025 was successfully held, with ticket sales growing by **37% year-on-year**, attracting over **35,000 participants**, of whom **55% were from outside Hong Kong**[38](index=38&type=chunk) - ComplexCon's success led to a **13.6% revenue growth** in content media and experiential services, reaching **HKD 55.7 million**[38](index=38&type=chunk) - Challenging Hong Kong economic conditions and changing consumption patterns resulted in a **22.2% decrease** in marketing production services revenue to **HKD 13.5 million**[39](index=39&type=chunk) - Overall revenue grew by **4.3% to HKD 69.3 million**, while loss significantly decreased by **86.4% to HKD 0.9 million**, primarily driven by ComplexCon's performance[39](index=39&type=chunk) - The Group plans to continue expanding its entertainment and experiential services to align with evolving consumer trends and market demand[39](index=39&type=chunk) [Financial Performance Review](index=19&type=section&id=Financial%20Performance%20Review) This section analyzes the Group's income and cost variations, attributing revenue growth to content media and experiential services and the narrowed loss to reduced operating expenses. [Revenue](index=19&type=section&id=Revenue) This section details the changes in revenue across different service categories. - Total revenue increased by **4.3% to HKD 69.3 million** (2024: HKD 66.4 million)[40](index=40&type=chunk) Revenue by Service Category | Service Category | 2025 (HKD thousands) | 2024 (HKD thousands) | Change Rate | | :--- | :--- | :--- | :--- | | Marketing Production | 13,532 | 17,397 | -22.2% | | Content Media and Experiential Services | 55,739 | 49,045 | 13.6% | - Marketing production services revenue decreased due to fewer projects, while content media and experiential services revenue increased, primarily driven by ComplexCon Hong Kong 2025[41](index=41&type=chunk)[42](index=42&type=chunk) [Outsourced Project Costs](index=19&type=section&id=Outsourced%20Project%20Costs) This section explains the changes in costs associated with outsourced projects. - Outsourced project costs increased by **6.9% to HKD 89.2 million** (2024: HKD 83.4 million), primarily driven by content media and experiential services for ComplexCon Hong Kong 2025[43](index=43&type=chunk) [Materials and Consumables](index=20&type=section&id=Materials%20and%20Consumables) This section outlines the changes in expenses for materials and consumables. - Materials and consumables decreased by **31.2% to HKD 0.8 million** (2024: HKD 1.2 million), aligning with the reduction in marketing production services revenue[44](index=44&type=chunk) [Employee Benefit Expenses](index=20&type=section&id=Employee%20Benefit%20Expenses) This section details the changes in employee-related costs, including salaries and benefits. - Employee benefit expenses decreased by **21.1% to HKD 7.1 million** (2024: HKD 9.0 million), primarily due to a reduction in employee headcount and average salaries[45](index=45&type=chunk) [Rental Expenses](index=20&type=section&id=Rental%20Expenses) This section explains the changes in rental expenses, particularly for variable lease payments. - Rental expenses decreased by **8.4% to HKD 0.9 million** (2024: HKD 0.9 million), mainly due to reduced variable lease payments for printing machines in marketing production services[46](index=46&type=chunk) [Transportation Expenses](index=20&type=section&id=Transportation%20Expenses) This section details the changes in transportation costs. - Transportation expenses increased by **4.7% to HKD 1.5 million** (2024: HKD 1.4 million), primarily due to an increase in marketing production service projects requiring direct mail services[47](index=47&type=chunk) [Other Operating Expenses](index=20&type=section&id=Other%20Operating%20Expenses) This section outlines the changes in various other operating expenses. - Other operating expenses decreased by **13.5% to HKD 4.3 million** (2024: HKD 5.0 million), mainly due to a reduction in license and service fees[48](index=48&type=chunk) [Finance Costs](index=21&type=section&id=Finance%20Costs) This section details the changes in the company's finance costs. - Finance costs decreased by **60.8% to HKD 0.1 million** (2024: HKD 0.2 million), primarily due to reduced interest on other short-term borrowings and repayment of lease liabilities[49](index=49&type=chunk) [Loss for the Period](index=21&type=section&id=Loss%20for%20the%20Period) This section summarizes the company's net loss for the period and its primary drivers. - The Group's loss for the period significantly decreased to **HKD 0.9 million** (2024: HKD 6.8 million), primarily due to improved financial performance from ComplexCon Hong Kong 2025[50](index=50&type=chunk) [Financial Position and Liquidity](index=21&type=section&id=Financial%20Position%20and%20Liquidity) This section outlines the Group's liquidity, financial resources, gearing ratio, and capital structure, noting improved net current assets and equity, reduced gearing, and prudent treasury policies. [Liquidity, Financial Resources, Gearing Ratio and Capital Structure](index=21&type=section&id=Liquidity%2C%20Financial%20Resources%2C%20Gearing%20Ratio%20and%20Capital%20Structure) This section provides an overview of the company's liquidity, financial resources, gearing, and capital structure. - Net current assets were approximately **HKD 14.9 million** (December 31, 2024: HKD 4.0 million), with cash and bank balances at approximately **HKD 21.7 million**[51](index=51&type=chunk) - The gearing ratio decreased to approximately **3.5%** (December 31, 2024: 6.6%), indicating reduced financial leverage[51](index=51&type=chunk) - Equity attributable to owners of the Company was approximately **HKD 56.4 million** (December 31, 2024: HKD 46.2 million), with no change in capital structure[51](index=51&type=chunk) [Foreign Exchange Risk and Treasury Policy](index=21&type=section&id=Foreign%20Exchange%20Risk%20and%20Treasury%20Policy) This section describes the company's exposure to foreign exchange risk and its treasury management strategies. - The Group faces multi-currency foreign exchange risk, primarily related to HKD, managed through regular net position reviews, with no derivative hedging instruments entered into during the period[52](index=52&type=chunk) - The Group adopts prudent financial management, maintains a robust liquidity position, and manages credit risk through credit assessments[52](index=52&type=chunk) [Pledge of Assets](index=22&type=section&id=Pledge%20of%20Assets) This section details the company's assets pledged as collateral for banking facilities. - As of June 30, 2025, property, plant and equipment with a total carrying amount of approximately **HKD 34.2 million** were pledged to secure banking facilities for a subsidiary[53](index=53&type=chunk) [Capital Commitments and Contingent Liabilities](index=22&type=section&id=Capital%20Commitments%20and%20Contingent%20Liabilities) This section confirms the absence of significant capital commitments or contingent liabilities. - As of June 30, 2025, the Group had no significant capital commitments or contingent liabilities[54](index=54&type=chunk) [Operational and Strategic Updates](index=22&type=section&id=Operational%20and%20Strategic%20Updates) This section provides updates on the Group's employees, future investment plans, significant acquisitions, and post-reporting period events, including the establishment of a new subsidiary. [Employees and Remuneration](index=22&type=section&id=Employees%20and%20Remuneration) This section details the company's employee count, remuneration policies, and benefit plans. - As of June 30, 2025, the Group employed **32 full-time employees**, offering competitive remuneration and benefits, including a share option scheme and retirement benefit plans[55](index=55&type=chunk) [Future Plans for Material Investments and Capital Assets](index=22&type=section&id=Future%20Plans%20for%20Material%20Investments%20and%20Capital%20Assets) This section states the company's plans regarding future material investments and capital assets. - The Group has no future plans for material investments and capital assets[56](index=56&type=chunk) [Material Investments, Significant Acquisitions and Disposals of Subsidiaries and Affiliated Companies](index=22&type=section&id=Material%20Investments%2C%20Significant%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%20and%20Affiliated%20Companies) This section details significant investment activities, including the establishment of new subsidiaries. - On February 4, 2025, the Group established a new subsidiary, All At Once Limited, with **93.02% equity**, alongside two independent third-party investors, to expand experiential, entertainment, and e-commerce businesses and raise approximately **US$1.5 million** in working capital[57](index=57&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=23&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) This section confirms no transactions involving the company's listed securities during the reporting period. - Neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the reporting period and up to the announcement date, nor did they hold any treasury shares[58](index=58&type=chunk) [Events After Reporting Period](index=23&type=section&id=Events%20After%20Reporting%20Period) This section confirms the absence of significant events subsequent to the reporting period. - No significant events occurred for the Group after the reporting period[59](index=59&type=chunk) [Other Information](index=23&type=section&id=Other%20Information) This section discloses directors' and major shareholders' interests, share option scheme details, corporate governance practices, board changes, and the audit committee's review of financial statements. [Disclosure of Interests of Directors and Chief Executive](index=23&type=section&id=Disclosure%20of%20Interests%20of%20Directors%20and%20Chief%20Executive) This section details the interests and short positions of directors and the chief executive in the company's shares and related securities. Directors' and Chief Executive's Interests | Nature of Interest | Number of Shares Held | Percentage of Shareholding | | :--- | :--- | :--- | | Interest in controlled corporation | 283,920,000 | 59.15% | | Interest held jointly with other persons | 34,850,000 | 7.26% | | Spouse's interest | 5,280,000 | 1.10% | | Beneficial owner | 2,625,000 | 0.55% | - Ms. Wu Chan beneficially and wholly owns **283,920,000 shares** through Explorer Vantage Limited, representing **59.15%**[60](index=60&type=chunk) - Ms. Wu Chan also holds **100% beneficial ownership** or interest in controlled corporations in Explorer Vantage and Pipa Jin Printing Limited[61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) [Disclosure of Interests of Substantial Shareholders and Other Persons](index=25&type=section&id=Disclosure%20of%20Interests%20of%20Substantial%20Shareholders%20and%20Other%20Persons) This section details the interests and short positions of substantial shareholders and other persons in the company's shares. Substantial Shareholders' and Other Persons' Interests | Name/Designation | Type of Interest | Number of Shares Held | Percentage of the Company's Shareholding | | :--- | :--- | :--- | :--- | | Explorer Vantage | Beneficial owner | 283,920,000 | 59.15% | | Mr. Wu Kin Pong | Spouse's interest | 286,545,000 | 59.70% | | Mirousky | Beneficial owner | 34,850,000 | 7.26% | | Mirousky Asia Limited | Interest in controlled corporation | 34,850,000 | 7.26% | | Ms. Chow Wai Ying | Beneficial owner | 35,950,000 | 7.49% | - Mr. Wu Kin Pong (Ms. Wu Chan's spouse) is deemed to have an interest in shares held by Ms. Wu Chan and also holds shares through Mirousky[66](index=66&type=chunk) [Share Option Scheme](index=26&type=section&id=Share%20Option%20Scheme) This section provides details on the company's share option scheme, including its adoption date and available shares. - The share option scheme was adopted on November 16, 2017, but no share options have been granted since its adoption[67](index=67&type=chunk) - As of June 30, 2025, **48,000,000 shares** were available for grant under the share option scheme, representing **10% of the issued share capital**[67](index=67&type=chunk) [Rights to Acquire Shares or Debentures](index=26&type=section&id=Rights%20to%20Acquire%20Shares%20or%20Debentures) This section confirms that no rights to acquire shares or debentures were granted or exercised by directors or their associates. - During the reporting period and up to the announcement date, no rights to subscribe for shares or related shares of the Company and/or its associated corporations were granted to or exercised by directors, chief executive, or their close associates[68](index=68&type=chunk) [Directors' Interests in Competing Businesses](index=26&type=section&id=Directors%27%20Interests%20in%20Competing%20Businesses) This section confirms that directors have no interests in businesses competing with the Group. - During the reporting period and up to the announcement date, none of the directors, substantial shareholders, or their close associates held any interest in businesses directly or indirectly competing with the Group's operations[69](index=69&type=chunk) [Non-Competition Undertaking](index=26&type=section&id=Non-Competition%20Undertaking) This section describes the non-competition undertaking entered into by key parties to prevent competition with the company. - Explorer Vantage and Ms. Wu Chan entered into a non-competition undertaking on November 16, 2017, pledging not to compete with the Company and its subsidiaries, effective from the listing date[70](index=70&type=chunk) [Directors' Securities Transactions](index=27&type=section&id=Directors%27%20Securities%20Transactions) This section confirms directors' compliance with the standard code for securities transactions. - The Company adopted the Standard Code, and all directors confirmed compliance with it during the reporting period following inquiry[71](index=71&type=chunk) - The Company requires employees or subsidiary directors/employees with potential inside information to adhere to the Standard Code's trading restrictions[71](index=71&type=chunk) [Changes in Directors' Information](index=27&type=section&id=Changes%20in%20Directors%27%20Information) This section reports changes in the composition of the board of directors and their committee roles. - Mr. Man Ka Ho resigned as an independent non-executive director and from related committee positions, effective from the conclusion of the Annual General Meeting on **June 18, 2025**[73](index=73&type=chunk) - Mr. Cao Yu was appointed as an independent non-executive director, Chairman of the Nomination Committee, member of the Remuneration Committee, and member of the Audit Committee, effective from the conclusion of the Annual General Meeting[73](index=73&type=chunk) [Corporate Governance Practices](index=27&type=section&id=Corporate%20Governance%20Practices) This section outlines the company's commitment to high corporate governance standards and its adherence to relevant codes. - The Company is committed to maintaining high corporate governance standards, adopting the principles and code provisions of the Corporate Governance Code in Appendix C1 Part 2 of the GEM Listing Rules[72](index=72&type=chunk) - The Board has established an Audit Committee, a Nomination Committee, and a Remuneration Committee[72](index=72&type=chunk) - The Company deviates from Code Provision C.2.1 (separation of Chairman and CEO roles) as Ms. Wu Chan holds both positions; the Board believes this benefits business operations and management, with sufficient independent non-executive directors ensuring power balance[74](index=74&type=chunk) [Audit Committee and Review of Unaudited Condensed Consolidated Financial Statements](index=28&type=section&id=Audit%20Committee%20and%20Review%20of%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section describes the composition and responsibilities of the Audit Committee and its review of the financial statements. - The Audit Committee, chaired by Mr. Yip Tin Chee, comprises three independent non-executive directors, responsible for reviewing and overseeing financial reporting, internal controls, and risk management[75](index=75&type=chunk) - The Audit Committee reviewed the unaudited condensed consolidated financial statements, confirming compliance with applicable accounting standards, GEM Listing Rules, and other legal requirements, with adequate disclosures made[75](index=75&type=chunk)[76](index=76&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不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。 SV Vision Limited 華 美 樂 樂 有 限 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：8429） 董事會會議日期 華美樂樂有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公司將於2025 年8 月28日（ 星期四 ）舉行董事會會議，以（ 其中包括 ）批准本公司及其附屬公司截至2025年6月 30日止六個月之中期業績及其發佈，以及考慮派付中期股息（ 如有）。 承董事會命 華美樂樂有限公司 主席兼行政總裁 胡陳德姿 香港，2025年8月18日 於 本 公 告 日 期 ， 董 事 會 包 括 執 行 董 事 胡 陳 德 姿 女 士 ； 非 執 行 董 事 周 世 耀 先 生 ； 及 獨 立 非 執 行 董 事 葉 天 賜 先 生、孔慶倫先生及曹宇先生。 本公告的資料乃遵照《香港聯合交易所有限公司GEM證券上市規則》而刊載，旨在提供有關本公司的資料；董 事願就本公告 ...

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 致：香港交易及結算所有限公司 公司名稱: 華美樂樂有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月4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) | 08429 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | 本月底 ...

Group 1 - The Hang Seng Index closed down 1.07% at 24,507.81 points on August 1 [1] - Huameilele (08429.HK) closed at HKD 0.041 per share, up 10.81%, with a trading volume of 260,000 shares and a turnover of HKD 10,800 [1] - Over the past month, Huameilele has shown a cumulative increase of 0%, while its year-to-date increase is 12.12%, underperforming the Hang Seng Index by 23.5% [1] Group 2 - For the fiscal year ending December 31, 2024, Huameilele reported total revenue of HKD 84.7271 million, a year-on-year increase of 70.28% [1] - The company recorded a net profit attributable to shareholders of -HKD 9.2539 million, a decrease of 16.18% year-on-year [1] - Huameilele's gross margin stands at -5.34%, with a debt-to-asset ratio of 35.78% [1] Group 3 - Currently, there are no institutional investment ratings for Huameilele [2] - The media and entertainment industry has an average price-to-earnings (P/E) ratio (TTM) of -13.94 times, with a median of -1.7 times [2] - Huameilele's P/E ratio is -1.78 times, ranking 93rd in the industry [2] Group 4 - Huameilele Limited is a diversified marketing supply chain management company headquartered in Hong Kong [2] - The company designs, creates, and produces marketing and branding promotional materials and content for clients in Hong Kong and China, serving both international and local brand owners [2] - Since its establishment in the late 1990s, the company has accumulated over 18 years of experience in project management and production of marketing and branding promotional materials [2]

Group 1 - The core viewpoint of the article highlights the recent performance of the Hang Seng Index and the stock price movement of Huameilele, which saw a significant increase of 19.44% on July 15, closing at HKD 0.043 per share [1] - Over the past month, Huameilele has experienced a cumulative increase of 2.86%, while its year-to-date increase stands at 9.09%, which is significantly lower than the Hang Seng Index's increase of 20.65% [2] - Financial data indicates that as of December 31, 2024, Huameilele achieved total revenue of HKD 84.7271 million, reflecting a year-on-year growth of 70.28%. However, the company reported a net profit attributable to shareholders of -HKD 9.2539 million, a decrease of 16.18% year-on-year, with a gross margin of -5.34% and a debt-to-asset ratio of 35.78% [2] Group 2 - Currently, there are no institutional investment ratings for Huameilele, and the media and entertainment industry has an average price-to-earnings (P/E) ratio (TTM) of -15.85 times, with a median of -1.47 times. Huameilele's P/E ratio is -1.73 times, ranking 93rd in the industry [3] - Other companies in the industry include Huashi Group Holdings with a P/E ratio of 2.15 times, Yaoxing Technology Group at 2.55 times, Weibo-SW at 6.83 times, Adway Group at 7.75 times, and Baidu Group-SWR at 8.13 times [3] - Huameilele Limited is a diversified marketing supply chain management company headquartered in Hong Kong, providing design, creation, and production of marketing and branding materials for clients, including international and local brand owners, financial institutions, luxury retailers, and local retail chains [3]

Group 1 - The Hang Seng Index closed at 23,453.16 points, down 0.79% on May 15 [1] - Huameilele (08429.HK) closed at HKD 0.036 per share, up 33.33%, with a trading volume of 220,000 shares and a turnover of HKD 6,915, showing a volatility of 29.63% [1] Group 2 - Over the past month, Huameilele has experienced a cumulative decline of 15.62%, and a year-to-date decline of 18.18%, underperforming the Hang Seng Index which has increased by 17.85% [2] - As of December 31, 2024, Huameilele reported total revenue of HKD 84.7271 million, a year-on-year increase of 70.28%, while the net profit attributable to shareholders was a loss of HKD 9.2539 million, a decrease of 16.18% year-on-year, with a gross margin of -5.34% and a debt-to-asset ratio of 35.78% [2] Group 3 - Currently, there are no institutional investment ratings for Huameilele [3] - The media and entertainment industry has an average TTM price-to-earnings ratio of -5.68 times, with a median of -1.02 times; Huameilele's P/E ratio is -1.3 times, ranking 95th in the industry [3] - Huameilele Limited is a diversified marketing supply chain management company based in Hong Kong, providing marketing and branding materials and content for clients, including international and local brand owners, financial institutions, luxury retailers, and local retail chains [3]

Financial Performance - The company reported a total revenue of HKD 91.5 million for the year ending December 31, 2024, representing a 70.3% increase compared to the previous year[12] - Revenue from content media and experiential business surged by 249.4% due to the successful hosting of ComplexCon Hong Kong, attracting over 30,000 participants, with 55% coming from outside Hong Kong[12] - The marketing production services revenue declined by 3.5% to HKD 36.7 million, impacted by changes in consumer behavior and economic uncertainties[13] - The company incurred a net loss of HKD 10.3 million, a 70% increase in losses attributed to significant upfront investments for hosting ComplexCon[12] - The group's revenue increased by approximately 70.3% to about HKD 91.5 million in 2024, compared to HKD 53.7 million in 2023[14] - Revenue from marketing production decreased by approximately 3.5% to about HKD 36.7 million, while revenue from content media and experiential services surged by approximately 249.4% to about HKD 54.8 million[15] - Other income, profit, and loss net increased by approximately 6,652.8% to about HKD 29.9 million, primarily due to an increase in government subsidies[16] Operational Challenges - The Hong Kong economic environment remains challenging, affecting consumer sentiment and key client sectors such as retail and insurance[13] - Outsourcing project costs rose by approximately 360.6% to about HKD 94.0 million, driven by the ComplexCon Hong Kong event[17] - The group recorded a loss of approximately HKD 10.3 million for the year, compared to a loss of HKD 6.1 million in 2023, mainly due to costs associated with the expansion of content media and experiential services[29] - The group's current asset net value was approximately HKD 4.0 million as of December 31, 2024, down from HKD 16.0 million in 2023[31] - The debt-to-equity ratio as of December 31, 2024, was 6.6%, compared to 1.4% in 2023[31] - The group’s total liabilities as of December 31, 2024, were significantly impacted by the increase in operational costs related to new business expansions[30] Strategic Direction - The company aims to expand its entertainment and experiential business despite the short-term financial impact of necessary investments[13] - The company plans to leverage strong brand partnerships and community growth to drive sustainable long-term development[9] - The company is confident that its strategic direction aligns with evolving consumer trends, particularly the increasing demand for immersive experiences across Asia[9] Corporate Governance - The company has maintained a high level of corporate governance, emphasizing a quality board, sound internal controls, transparency, and accountability to protect shareholder interests[53] - The board has adopted the principles and code provisions of the GEM Listing Rules Appendix C1 Corporate Governance Code, establishing an audit committee, nomination committee, and remuneration committee[53] - The company has been in compliance with all code provisions of the Corporate Governance Code for the year ending December 31, 2024, except for a deviation regarding the separation of roles of the chairman and CEO[53] - The current structure has the same individual serving as both chairman and CEO, which the board believes provides strong and consistent leadership for the company's operations and management[53] - The company has a commitment to independent judgment in strategy, policy, performance, accountability, resources, and ethical standards through its independent non-executive directors[47] Management and Workforce - The company has a diverse and experienced management team, with members having over 21 years of experience in accounting and auditing, and over 27 years in finance and investment[48][49] - The company has established a compliance officer role to ensure adherence to regulatory requirements and corporate governance standards[50] - The company has a dedicated company secretary with over 13 years of experience in corporate secretarial services, ensuring compliance and governance[51] - The group employed a total of 32 full-time employees as of December 31, 2024, down from 38 in 2023[37] - Employee benefits expenses decreased by approximately 5.3% to about HKD 15.3 million, attributed to a reduction in employee numbers[22] Risk Management - The board confirmed its overall responsibility for maintaining effective risk management and internal control systems, which are designed to manage rather than eliminate risks[102] - The internal control policies cover various operational aspects, including risk assessment, financial reporting, cost management, and IT system monitoring[103] - The risk management team, composed of senior management, conducts quarterly risk identification and analysis, assessing the consequences and likelihood of risks[104] Shareholder Relations - The company encourages shareholder participation in meetings and ensures that all resolutions presented at shareholder meetings are voted on, with results published afterward[105] - The company has adopted a shareholder communication policy to ensure shareholders receive balanced and understandable information in a timely manner[110] - The board believes that the shareholder communication policy was effectively implemented and remains valid throughout the year[112] Environmental, Social, and Governance (ESG) - The company emphasizes the importance of environmental, social, and governance (ESG) factors in its operations, aiming to create long-term value for stakeholders[180] - The company has conducted a materiality assessment to identify significant factors impacting sustainable development through stakeholder communication[181] - The company has disclosed its environmental and social key performance indicators through quantification and data presentation[182] - The total electricity consumption for the Hong Kong office and warehouse in 2024 was 91,241 kWh, a decrease from 93,767 kWh in 2023, with a target to reduce energy consumption emissions by 2% in the next year[195] - The company aims to reduce paper usage by 3% in the next year, with 22.61 tons of waste paper collected for recycling in the current year, down from 25.74 tons in 2023[197] - A total of 271 old toner cartridges were collected for recycling, down from 331 in 2023, as part of the goal to achieve zero harmful waste generation[199]