天泓文创发布公告，由于完成认购事项的先决条件未能于2025年8月31日或的前达成，认购协议已告失 效并归于无效，公司与认购方双方均获释除认购协议项下的所有责任。 香港联交所最新资料显示，10月9日，天泓文创(08500)股东将股票由潮商证券转入昌利证券，转仓市值 3282.06万港元，占比26.66%。 公司发布的截至2025年6月30日止6个月中期业绩显示，集团收益人民币1270.3万元，同比减少37.29%； 净利润43.1万元，同比增长71.03%；每股盈利0.001元。 ...

天泓文创发布公告，由于完成认购事项的先决条件未能于2025年8月31日或的前达成，认购协议已告失 效并归于无效，公司与认购方双方均获释除认购协议项下的所有责任。 智通财经APP获悉，香港联交所最新资料显示，10月9日，天泓文创(08500)股东将股票由潮商证券转入 昌利证券，转仓市值3282.06万港元，占比26.66%。 公司发布的截至2025年6月30日止6个月中期业绩显示，集团收益人民币1270.3万元，同比减少37.29%； 净利润43.1万元，同比增长71.03%；每股盈利0.001元。 ...

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: 天泓文創國際集團有限公司 呈交日期: 2025年10月3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) | 08500 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | 本月底法定 ...

[Company Information](index=3&type=section&id=Company%20Information) This section details the company's key personnel, board committees, and administrative information, noting recent changes in directorships [Executive Directors](index=4&type=section&id=Executive%20Directors) This section lists the company's executive directors, noting Ms. Li Zhiying's resignation during the reporting period - Ms. Li Zhiying resigned as Executive Director on June 30, 2025[10](index=10&type=chunk) [Non-Executive Director](index=4&type=section&id=Non-Executive%20Director) This section lists the company's non-executive directors, with Mr. Chen Zongxian serving as Chairman - Mr. Chen Zongxian serves as Non-Executive Director and Chairman[9](index=9&type=chunk)[10](index=10&type=chunk) [Independent Non-Executive Directors](index=4&type=section&id=Independent%20Non-Executive%20Directors) This section lists the company's independent non-executive directors, noting Ms. Tam Hon Shan's resignation and Mr. Wu Zhou's appointment during the reporting period - Ms. Tam Hon Shan resigned as Independent Non-Executive Director on May 21, 2025[10](index=10&type=chunk) - Mr. Wu Zhou was appointed as Independent Non-Executive Director on August 20, 2025[10](index=10&type=chunk) [Company Secretary](index=4&type=section&id=Company%20Secretary) This section lists Mr. Cai Benli as the company's Company Secretary - Mr. Cai Benli serves as Company Secretary[9](index=9&type=chunk)[10](index=10&type=chunk) [Authorised Representatives](index=4&type=section&id=Authorised%20Representatives) This section lists Ms. Liang Wei and Mr. Cai Benli as the company's authorised representatives - Ms. Liang Wei and Mr. Cai Benli serve as Authorised Representatives[9](index=9&type=chunk)[10](index=10&type=chunk) [Board Committees](index=4&type=section&id=Board%20Committees) The Board has an Audit Committee, Remuneration Committee, and Nomination Committee, with some changes in members and chairpersons during the reporting period [Audit Committee](index=4&type=section&id=Audit%20Committee) The Audit Committee experienced a change in its chairman during the reporting period - Ms. Tam Hon Shan resigned as Chairman of the Audit Committee on May 21, 2025, and Mr. Wu Zhou was appointed as Chairman on August 20, 2025[9](index=9&type=chunk)[10](index=10&type=chunk) [Remuneration Committee](index=4&type=section&id=Remuneration%20Committee) The Remuneration Committee experienced a change in its membership during the reporting period - Ms. Tam Hon Shan resigned as a member of the Remuneration Committee on May 21, 2025, and Mr. Wu Zhou was appointed as a member on August 20, 2025[9](index=9&type=chunk)[10](index=10&type=chunk) [Nomination Committee](index=5&type=section&id=Nomination%20Committee) The Nomination Committee experienced a change in its membership during the reporting period - Ms. Tam Hon Shan resigned as a member of the Nomination Committee on May 21, 2025, and Mr. Wu Zhou was appointed as a member on August 20, 2025[11](index=11&type=chunk) [Registered Office](index=5&type=section&id=Registered%20Office) This section provides the company's registered office address in the Cayman Islands - The registered office is located in the Cayman Islands[11](index=11&type=chunk) [Principal Place of Business in the PRC](index=5&type=section&id=Principal%20Place%20of%20Business%20in%20the%20PRC) This section provides the company's principal place of business address in Guangzhou, China - The principal place of business in the PRC is located at Room 601, Fuli Yingxin Building, No. 28 Huaxia Road, Zhujiang New Town, Tianhe District, Guangzhou, Guangdong Province, China[11](index=11&type=chunk)[12](index=12&type=chunk) [Principal Place of Business in Hong Kong](index=5&type=section&id=Principal%20Place%20of%20Business%20in%20Hong%20Kong) This section provides the company's principal place of business address in Hong Kong - The principal place of business in Hong Kong is located at Room 1701, 17/F, Wai Fung Centre, 664 Nathan Road, Mong Kok, Kowloon[12](index=12&type=chunk)[13](index=13&type=chunk) [Principal Share Registrar and Transfer Office in the Cayman Islands](index=5&type=section&id=Principal%20Share%20Registrar%20and%20Transfer%20Office%20in%20the%20Cayman%20Islands) This section provides information on the company's principal share registrar and transfer office in the Cayman Islands - The Principal Share Registrar and Transfer Office in the Cayman Islands is Ogier Global (Cayman) Limited[12](index=12&type=chunk)[13](index=13&type=chunk) [Hong Kong Branch Share Registrar and Transfer Office](index=6&type=section&id=Hong%20Kong%20Branch%20Share%20Registrar%20and%20Transfer%20Office) This section provides information on the company's Hong Kong branch share registrar and transfer office - The Hong Kong Branch Share Registrar and Transfer Office is Boardroom Share Registrars (HK) Limited[14](index=14&type=chunk) [Principal Bankers](index=6&type=section&id=Principal%20Bankers) This section lists the company's principal bankers - Principal bankers include Bank of China, Agricultural Bank of China, and Wing Lung Bank[14](index=14&type=chunk) [Company's Website](index=6&type=section&id=Company's%20Website) This section provides the company's official website address - The company's website is http://www.iconspace.com/[14](index=14&type=chunk) [Listing Information](index=6&type=section&id=Listing%20Information) This section provides information on the company's listing venue, stock code, and board lot size - The company is listed on GEM of the Stock Exchange, with stock code **8500** and board lot size of **10,000 shares**[14](index=14&type=chunk) [Financial Highlights](index=6&type=section&id=Financial%20Highlights) This section presents key financial performance indicators for the six months ended June 30, 2025, highlighting revenue, gross profit, and net profit trends Financial Highlights for the Six Months Ended June 30, 2025 | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 12,703 | 20,258 | (37.3) | | Gross Profit | 7,225 | 3,271 | 120.9 | | Profit for the Period | 431 | 252 | 71.0 | - In the first half of 2025, creative design, public relations, marketing activities, and other services accounted for **64.0% of total revenue**, traditional offline media advertising services for **33.6%**, and online media advertising services for **2.4%**[16](index=16&type=chunk) [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business performance, future outlook, and detailed financial review for the reporting period [Business Review](index=8&type=section&id=Business%20Review) The Group, as an integrated multimedia advertising and marketing service provider, experienced a decline in revenue due to increased market competition and cautious client budgets, but gross profit margin improved. The Group is transforming from a single advertising placement model, actively exploring new business growth points, and has obtained memberships in several industry associations - The Group is an integrated multimedia advertising and marketing service provider based in Guangzhou, China, offering traditional offline media, internet media, and multimedia integrated platform services[17](index=17&type=chunk)[19](index=19&type=chunk) - For the six months ended June 30, 2025, the Group's turnover was approximately **RMB 12.7 million**, a year-on-year decrease of **37.3%** (2024: RMB 20.3 million)[22](index=22&type=chunk)[23](index=23&type=chunk) - The decrease in revenue was primarily due to the decline in traditional advertising business and the lower gross profit margins (averaging below **5%**) of new businesses like new media and trade operations, where only gross profit is recognized as revenue[22](index=22&type=chunk)[23](index=23&type=chunk) - The Group aims to achieve significant revenue contribution from new businesses within 2025 or the first half of 2026[22](index=22&type=chunk)[23](index=23&type=chunk) - The Group was approved as a Vice Chairman Unit and Member Unit of several industry associations during this period, including the Industrial Culture and Tourism Research Center of China Industrial News and the China Advertising Association[18](index=18&type=chunk)[20](index=20&type=chunk) [Prospect](index=10&type=section&id=Prospect) Facing global economic slowdown and domestic demand challenges, the Group will consolidate traditional advertising business and actively expand into full-chain integrated services, particularly in cultural tourism and education, utilizing AI and other technological tools to develop digital cultural and creative products - The UN and World Bank predict a slowdown in global economic growth in 2025, with China's economy growing by **5.3%** in the first half, but still facing complex challenges in the second half, including domestic demand and employment pressure[24](index=24&type=chunk)[26](index=26&type=chunk) - In the advertising and marketing sector, online advertising is the fastest-growing channel, and the integration of new technologies like AI has led to a new advertising industry landscape where algorithms and creativity coexist[25](index=25&type=chunk)[27](index=27&type=chunk) - The Group's business strategy will upgrade from "execution intermediary" to "strategic partner," expanding into cultural tourism projects (e.g., transparent factories, study tour bases) and education industry services[28](index=28&type=chunk)[29](index=29&type=chunk) - The Group plans to leverage AI and other technological tools to independently design digital cultural and creative products, create popular items through its own platforms, and achieve commercialization, collection, and trading of digital products[30](index=30&type=chunk)[34](index=34&type=chunk) [Financial Review](index=12&type=section&id=Financial%20Review) This period saw a decrease in Group revenue, but an increase in gross profit and profit for the period, with a significant improvement in gross profit margin, alongside increased administrative expenses and a shift to net impairment loss recognition [Revenue](index=12&type=section&id=Revenue) This section provides an overview of the Group's revenue performance, detailing the decrease and its primary drivers Revenue Overview | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 12,703 | 20,258 | (37.3) | - The decrease in revenue was primarily due to the decline in traditional advertising business and the lower gross profit margins (e.g., below **5%**) of new businesses like new media and trade operations, where only gross profit is recognized as revenue[31](index=31&type=chunk)[35](index=35&type=chunk) [Gross Profit and Gross Profit Margin](index=12&type=section&id=Gross%20Profit%20and%20Gross%20Profit%20Margin) This section presents the Group's gross profit and gross profit margin, highlighting significant improvements during the period Gross Profit and Gross Profit Margin Overview | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 7,225 | 3,271 | 118.0 | | Gross Profit Margin | 56.7% | 16.1% | +40.6 percentage points | [Other Revenue](index=12&type=section&id=Other%20Revenue) This section provides an overview of the Group's other revenue for the reporting period Other Revenue Overview | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Other Revenue | 247 | 84 | 100.0 | [Selling Expenses](index=13&type=section&id=Selling%20Expenses) This section details the Group's selling expenses for the reporting period Selling Expenses Overview | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Selling Expenses | 1,091 | 1,174 | (8.3) | [Administrative Expenses](index=13&type=section&id=Administrative%20Expenses) This section outlines the Group's administrative expenses, noting the increase and its main causes Administrative Expenses Overview | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | Change (%) | | :--- | :--- | :--- | :--- | | Administrative Expenses | 3,619 | 2,859 | 24.0 | - The increase in administrative expenses was mainly due to increased intermediary fees for service companies[39](index=39&type=chunk)[45](index=45&type=chunk) [Impairment losses reversed/(recognised) under the expected credit loss model, net](index=13&type=section&id=Impairment%20losses%20reversed%2F(recognised)%20under%20the%20expected%20credit%20loss%20model,%20net) This section details the net impairment losses under the expected credit loss model, noting the shift from reversal to recognition due to collection issues Impairment Losses Overview | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Impairment losses (recognised)/reversed, net | (2,237) | 1,033 | - Net impairment losses of **RMB 2.2 million** were recognized in this period, compared to a reversal of **RMB 1.0 million** in the same period last year, mainly due to collection issues and an increase in accounts receivable balances over one year old[40](index=40&type=chunk)[46](index=46&type=chunk) [Profit for the period](index=13&type=section&id=Profit%20for%20the%20period) This section presents the Group's profit for the period Profit for the Period Overview | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Profit for the Period | 431 | 252 | [Liquidity and Finance Resources](index=13&type=section&id=Liquidity%20and%20Finance%20Resources) As of June 30, 2025, the Group's net current assets and cash and cash equivalents both decreased, and the current ratio slightly declined but remained healthy, with an outstanding fixed-rate bank loan and a low gearing ratio Liquidity Overview | Indicator | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Net Current Assets | 33,824 | 34,216 | | Cash and Cash Equivalents | 1,003 | 4,070 | | Current Ratio | 2.0 times | 2.4 times | - As of June 30, 2025, the Group had an outstanding fixed-rate bank loan of **RMB 1.5 million**, with a gearing ratio of **4.4%**[49](index=49&type=chunk)[50](index=50&type=chunk) [Fund Raising Activities](index=14&type=section&id=Fund%20Raising%20Activities) The Group conducted fundraising activities in 2024 through placing new shares and a rights issue, with proceeds primarily used for general working capital, event organization, new media operation services, cross-border live streaming e-commerce business development, and strategic cooperation or acquisitions [Placing of New Shares Under General Mandate](index=14&type=section&id=Placing%20of%20New%20Shares%20Under%20General%20Mandate) This section details the placing of new shares under general mandate, including the number of shares, placing price, and utilization of proceeds - The placing was completed on March 15, 2024, with the issuance of **36,000,000 new shares** at a placing price of **HK$0.488 per share**[50](index=50&type=chunk)[51](index=51&type=chunk) Use of Net Proceeds from Placing (as of December 30, 2024) | Purpose | Net Proceeds from Placing (HK$ '000) | Unutilized Balance as of June 30, 2024 (HK$ '000) | Proceeds Utilized as of December 30, 2024 (HK$ '000) | Unutilized Balance as of December 30, 2024 (HK$ '000) | | :--- | :--- | :--- | :--- | :--- | | General Working Capital | 17,392 | 15,202 | 15,202 | – | [Rights Issue](index=15&type=section&id=Rights%20Issue) This section provides details on the rights issue, including net proceeds and their utilization across various business development and operational areas - On August 13, 2024, the net proceeds from the rights issue were approximately **HK$53 million**[53](index=53&type=chunk) Use of Net Proceeds from Rights Issue (as of June 30, 2025) | Purpose | Intended Use of Net Proceeds (HK$ '000) | Amount Utilized as of December 31, 2024 (HK$ '000) | Remaining Balance as of December 31, 2024 (HK$ '000) | Unutilized Net Proceeds with Revised Allocation (HK$ '000) | Remaining Balance of Unutilized Net Proceeds as of December 31, 2024 (HK$ '000) | Proceeds Utilized During the Reporting Period (HK$ '000) | Remaining Balance of Unutilized Net Proceeds as of June 30, 2025 (HK$ '000) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Organizing and Coordinating Events, Exhibitions, and Fairs | 19,900 | – | 19,900 | – | 1,800 | 1,800 | – | | Provision of New Media Operation Services | 16,600 | – | 16,600 | – | – | – | – | | Development of Cross-border Live Streaming E-commerce Business | 6,600 | – | 6,600 | – | – | – | – | | Strategic Cooperation or Acquisitions | 6,600 | 6,600 | – | – | – | – | – | | General Working Capital | 3,300 | 1,600 | 1,700 | – | 1,700 | 1,700 | – | | Trading Goods | – | – | – | 37,300 | – | – | – | | Loans to Business Partners in Advertising Business | – | – | – | 4,000 | – | – | – | | Subtotal | 53,000 | 8,200 | 44,800 | 41,300 | 3,500 | 3,500 | – | [Capital Structure](index=16&type=section&id=Capital%20Structure) As of the report date, the company's total issued shares amounted to 432,000,000 shares - As of the date of this report, the company has **432,000,000 issued shares**[56](index=56&type=chunk)[62](index=62&type=chunk) [Pledge of Assets](index=16&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, approximately RMB 7.1 million of the Group's trade receivables were pledged as collateral for bank borrowings, a decrease from the end of 2024 Pledge of Assets Overview | Indicator | June 30, 2025 (RMB million) | December 31, 2024 (RMB million) | | :--- | :--- | :--- | | Pledged Trade Receivables | 7.1 | 12.1 | [Dividend](index=16&type=section&id=Dividend) The Board of Directors resolved not to declare an interim dividend for this period - The Board of Directors resolved not to declare an interim dividend for the six months ended June 30, 2025[58](index=58&type=chunk)[64](index=64&type=chunk) [Foreign Exchange Exposure](index=16&type=section&id=Foreign%20Exchange%20Exposure) Each member company within the Group has limited foreign currency exposure, as most transactions are conducted in the same currency as their functional currency - Each member company within the Group has limited foreign currency exposure, as most transactions are conducted in the same currency as their functional currency[59](index=59&type=chunk)[65](index=65&type=chunk) [Significant Investments Held](index=16&type=section&id=Significant%20Investments%20Held) During the reporting period, the Group did not hold any significant investments - During this period, the Group did not hold any significant investments[60](index=60&type=chunk)[66](index=66&type=chunk) [Future Plans for Material Investments and Capital Assets](index=16&type=section&id=Future%20Plans%20for%20Material%20Investments%20and%20Capital%20Assets) During the reporting period, the Group had no plans for material investments and capital assets - During this period, the Group had no plans for material investments and capital assets[61](index=61&type=chunk)[67](index=67&type=chunk) [Contingent Liabilities](index=17&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had a potential legal claim and obligation of approximately RMB 4.0 million related to a 2019 documentary sponsorship and content cooperation agreement, which is still under negotiation due to the supplier's incomplete fulfillment of obligations - As of June 30, 2025, the Group had a potential legal claim and obligation of approximately **RMB 4.0 million**, related to a 2019 documentary sponsorship and content cooperation agreement[68](index=68&type=chunk)[70](index=70&type=chunk) - The Group believes the supplier has not fulfilled all performance obligations due to delays in documentary production and failure to broadcast on designated channels, and is currently negotiating with the supplier[68](index=68&type=chunk)[70](index=70&type=chunk) [Material Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures](index=17&type=section&id=Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries,%20Associates%20and%20Joint%20Ventures) During the reporting period, the Group did not have any material acquisitions or disposals of subsidiaries, associates, and joint ventures - During this period, the Group did not have any material acquisitions or disposals of subsidiaries, associates, and joint ventures[69](index=69&type=chunk)[71](index=71&type=chunk) [Employee and Remuneration Policies](index=18&type=section&id=Employee%20and%20Remuneration%20Policies) As of June 30, 2025, the Group had 30 employees, a decrease from the end of 2024, with remuneration policies based on responsibilities, qualifications, and performance, and key executive remuneration reviewed by the Remuneration Committee Employee Headcount Overview | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Employee Headcount | 30 | 39 | - Employee remuneration is determined based on responsibilities, qualifications, performance, experience, and seniority, and is regularly reviewed[72](index=72&type=chunk)[75](index=75&type=chunk) - Remuneration for key executives is reviewed by the Board's Remuneration Committee based on the Group's performance and individual contributions[73](index=73&type=chunk)[76](index=76&type=chunk) [Event After the Reporting Period](index=19&type=section&id=Event%20After%20the%20Reporting%20Period) No significant events occurred after June 30, 2025, other than those already disclosed - No significant events occurred after June 30, 2025, other than those mentioned above[78](index=78&type=chunk)[79](index=79&type=chunk) [Risks and Hurdles](index=19&type=section&id=Risks%20and%20Hurdles) The Group faces multiple business risks, including unstable advertising resource supply, competition and costs in expanding to online advertising, credit risk from delayed settlement of accounts receivable by clients, and potential reduction in client advertising budgets due to economic slowdown - The Group may not be able to retain or renew existing advertising resource supplies, or acquire new ones, leading to client loss and business decline[80](index=80&type=chunk) - Expansion from traditional advertising to online advertising may face significant competition and additional costs[80](index=80&type=chunk) - Clients may delay settlement of accounts receivable, posing credit risk[80](index=80&type=chunk) - Economic slowdown may lead clients to reduce advertising budgets[80](index=80&type=chunk) [Corporate Governance and Other Information](index=19&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section details the Group's corporate governance practices, directors' securities transactions, competing interests, share option scheme, and substantial shareholders' interests [Corporate Governance](index=20&type=section&id=Corporate%20Governance) This section describes the Group's corporate governance practices, emphasizing adherence to the principles and provisions of the Corporate Governance Code set out in Appendix C1 of the GEM Listing Rules - The company's corporate governance practices are based on the principles and provisions of the Corporate Governance Code set out in Appendix C1 of the GEM Listing Rules[81](index=81&type=chunk)[84](index=84&type=chunk) - During the reporting period, the company complied with all provisions of the Corporate Governance Code and will continue to do so[81](index=81&type=chunk)[84](index=84&type=chunk) [Model Code for Securities Transactions by the Directors](index=20&type=section&id=Model%20Code%20for%20Securities%20Transactions%20by%20the%20Directors) The company has adopted a code of conduct for directors' securities transactions identical to the GEM Listing Rules and regularly reminds directors to comply with blackout period requirements, with all directors confirming compliance during the reporting period - The company has adopted a code of conduct for directors' securities transactions identical to the required standards for dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules[82](index=82&type=chunk)[85](index=85&type=chunk) - All directors confirmed compliance with the required standards for dealings and the code of conduct during the reporting period[83](index=83&type=chunk)[85](index=85&type=chunk) [Competing Interest](index=21&type=section&id=Competing%20Interest) During the reporting period, none of the company's directors, substantial shareholders, or their close associates engaged in any business that competes or may compete with the Group's business, or held any related interests - During the reporting period, none of the company's directors or substantial shareholders or their respective close associates engaged in any business that directly or indirectly competes or may compete with the Group's business, or held any interests in such businesses[86](index=86&type=chunk)[88](index=88&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=21&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) During the reporting period, neither the company nor any of its subsidiaries redeemed, purchased, or sold any listed securities, nor issued or granted any convertible securities, options, warrants, or similar rights - During the reporting period, the company did not redeem its listed securities, nor did the company or any of its subsidiaries purchase or sell any such securities[87](index=87&type=chunk)[89](index=89&type=chunk) - Neither the company nor any of its subsidiaries issued or granted any convertible securities, options, warrants, or similar rights during this period[87](index=87&type=chunk)[89](index=89&type=chunk) [Share Option Scheme](index=22&type=section&id=Share%20Option%20Scheme) The company adopted a share option scheme in 2019, effective from 2020, with no outstanding share options or activity during the reporting period, and a total of 18,000,000 shares available for issue - The company conditionally adopted a share option scheme on December 11, 2019, effective for a period of **10 years** from January 14, 2020[90](index=90&type=chunk)[92](index=92&type=chunk) - As of June 30, 2025, there were no outstanding share options, and no share options were granted, exercised, cancelled, or lapsed during this period[91](index=91&type=chunk)[92](index=92&type=chunk) - As of the date of this report, the total number of shares available for issue under the share option scheme is **18,000,000 shares**, representing **4.17%** of the company's issued share capital as of this report date[91](index=91&type=chunk)[92](index=92&type=chunk) [Directors' and Chief Executives' Interests and Short Positions in Shares, Underlying Shares and Debentures](index=23&type=section&id=Directors'%20and%20Chief%20Executives'%20Interests%20and%20Short%20Positions%20in%20Shares,%20Underlying%20Shares%20and%20Debentures) As of June 30, 2025, none of the company's directors and chief executives had any disclosable interests or short positions in the shares, underlying shares, and debentures of the company and its associated corporations - As of June 30, 2025, none of the company's directors and chief executives had any interests or short positions in the shares, underlying shares, and debentures of the company and its associated corporations that are required to be notified to the company and the Stock Exchange under Divisions 7 and 8 of Part XV of the Securities and Futures Ordinance[93](index=93&type=chunk)[94](index=94&type=chunk) [Substantial Shareholders' Interests in Shares, Underlying Shares and Debentures](index=24&type=section&id=Substantial%20Shareholders'%20Interests%20in%20Shares,%20Underlying%20Shares%20and%20Debentures) As of June 30, 2025, several entities were disclosed as substantial shareholders, holding interests or short positions in the company's shares, with Baocheng Holdings Limited holding the highest percentage Substantial Shareholders' Shareholding Overview (as of June 30, 2025) | Director Name | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Shareholding (%) | | :--- | :--- | :--- | :--- | | Shining Icon | Beneficial Owner | 45,000,000 shares (L) | 10.42% | | Capital Link Financial Holdings Group Limited | Beneficial Owner | 42,750,000 shares (L) | 19.79% | | Focus Wonder Limited | Beneficial Owner | 33,750,000 shares (L) | 7.81% | | China Huishang Entrepreneurs Association International Group Limited | Beneficial Owner | 20,000,000 shares (L) | 9.26% | | Master Connection Limited | Beneficial Owner | 13,500,000 shares (L) | 3.13% | | Maofu Trading Co., Ltd. | Beneficial Owner | 31,383,000 | 7.26% | | Baocheng Holdings Limited | Beneficial Owner | 56,334,000 | 13.04% | - Shining Icon is wholly owned by Mr. Zhou Zitao, who is deemed to have an interest in the shares held by Shining Icon[99](index=99&type=chunk) - Capital Link Financial Holdings Group Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: **204**)[99](index=99&type=chunk) [Audit Committee and Review of Interim Results](index=26&type=section&id=Audit%20Committee%20and%20Review%20of%20Interim%20Results) The Audit Committee, composed of three independent non-executive directors, is responsible for reviewing the Group's financial reporting process, risk management, and internal control systems, and has reviewed the unaudited consolidated results for this period, finding them compliant - The Audit Committee comprises three independent non-executive directors: Mr. Tian Tao, Mr. Liu Lihan, and Mr. Wu Zhou[106](index=106&type=chunk)[107](index=107&type=chunk) - The Audit Committee, together with management, has reviewed the accounting policies and practices adopted by the Group and discussed the company's internal controls and financial reporting matters, including the review of the Group's unaudited consolidated results for this period[106](index=106&type=chunk)[107](index=107&type=chunk) - The Audit Committee believes that the preparation of the results complies with applicable accounting standards, GEM Listing Rules, and legal requirements, and that adequate disclosures have been made[106](index=106&type=chunk)[107](index=107&type=chunk) [Consolidated Statement of Profit or Loss](index=27&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) This section presents the Group's consolidated statement of profit or loss, highlighting revenue, cost of sales, gross profit, and net profit for the reporting period Key Data from Consolidated Statement of Profit or Loss | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Revenue | 12,703 | 20,258 | | Cost of Sales | (5,478) | (16,987) | | Gross Profit | 7,225 | 3,271 | | Other Revenue | 247 | 84 | | Selling Expenses | (1,091) | (1,174) | | Administrative Expenses | (3,619) | (2,859) | | Impairment losses (recognised)/reversed, net | (2,237) | 1,033 | | Operating Profit | 525 | 355 | | Finance Costs | (94) | (103) | | Profit Before Taxation | 431 | 252 | | Profit for the Period | 431 | 252 | | Basic Earnings Per Share | 0.001 | 0.001 | | Diluted Earnings Per Share | 0.001 | 0.001 | - Revenue decreased by **37.3%** year-on-year, but gross profit increased by **120.9%** year-on-year, and profit for the period increased by **71.0%** year-on-year[109](index=109&type=chunk) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=28&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This section presents the Group's consolidated statement of profit or loss and other comprehensive income, detailing profit for the period and the impact of exchange differences Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Profit for the Period | 431 | 252 | | Exchange differences on translation of financial statements of entities with non-RMB functional currencies | (970) | 22 | | Total comprehensive (expense)/income for the period attributable to equity holders of the Company | (539) | 274 | - In the first half of 2025, exchange differences led to a shift from comprehensive income to comprehensive expense[111](index=111&type=chunk) [Consolidated Statement of Financial Position](index=29&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) This section presents the Group's consolidated statement of financial position, detailing assets, liabilities, and equity as of June 30, 2025, and December 31, 2024 Key Data from Consolidated Statement of Financial Position | Indicator | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Property, Plant and Equipment | 505 | 652 | | Total Non-Current Assets | 505 | 652 | | Trade Receivables | 17,108 | 2,316 | | Other Receivables, Deposits and Prepayments | 48,006 | 51,447 | | Cash and Cash Equivalents | 1,003 | 4,070 | | Total Current Assets | 66,124 | 57,840 | | Trade and Other Payables | 11,802 | 11,079 | | Contract Liabilities | 16,290 | 5,249 | | Bank Loans | 1,500 | 4,500 | | Total Current Liabilities | 32,300 | 23,624 | | Net Current Assets | 33,824 | 34,216 | | Net Assets | 34,329 | 34,868 | | Share Capital | 3,906 | 3,906 | | Reserves | 30,423 | 30,962 | | Total Equity | 34,329 | 34,868 | - Trade receivables significantly increased from **RMB 2,316 thousand** at the end of 2024 to **RMB 17,108 thousand** as of June 30, 2025[113](index=113&type=chunk) - Contract liabilities significantly increased from **RMB 5,249 thousand** at the end of 2024 to **RMB 16,290 thousand** as of June 30, 2025[113](index=113&type=chunk) [Consolidated Statement of Changes in Equity](index=31&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) This section presents the Group's consolidated statement of changes in equity, detailing movements in share capital, reserves, and accumulated losses for the reporting period Key Data from Consolidated Statement of Changes in Equity | Indicator | Share Capital (RMB '000) | Share Premium (RMB '000) | Other Reserves (RMB '000) | Statutory Reserve (RMB '000) | Exchange Reserve (RMB '000) | Accumulated Losses (RMB '000) | Total (RMB '000) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Balance as of January 1, 2025 | 3,906 | 154,874 | (11,907) | 8,407 | 1,622 | (122,034) | 34,868 | | Profit for the Period | – | – | – | – | – | 431 | 431 | | Other Comprehensive Expense | – | – | – | – | (970) | – | (970) | | Total Comprehensive (Expense)/Income | – | – | – | – | (970) | 431 | (539) | | Balance as of June 30, 2025 | 3,906 | 154,874 | (11,907) | 8,407 | 652 | (121,603) | 34,329 | - In the first half of 2025, exchange reserve decreased from **RMB 1,622 thousand** to **RMB 652 thousand**, resulting in a total comprehensive expense of **RMB 539 thousand**[117](index=117&type=chunk) [Condensed Consolidated Cash Flow Statement](index=32&type=section&id=Condensed%20Consolidated%20Cash%20Flow%20Statement) This section presents the Group's condensed consolidated cash flow statement, detailing cash flows from operating, investing, and financing activities for the reporting period Key Data from Condensed Consolidated Cash Flow Statement | Indicator | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Net cash used in operating activities | 1,019 | (9,842) | | Net cash used in investing activities | (28) | (39) | | Net cash (used in)/generated from financing activities | (3,088) | 13,006 | | Net (decrease)/increase in cash and cash equivalents | (2,097) | 3,125 | | Cash and cash equivalents at January 1 | 4,070 | 13,667 | | Effect of foreign exchange rate changes | (970) | 22 | | Cash and cash equivalents at June 30 | 1,003 | 16,814 | - Cash flow from operating activities shifted from a net outflow of **RMB 9,842 thousand** in the first half of 2024 to a net inflow of **RMB 1,019 thousand** in the first half of 2025[119](index=119&type=chunk) - Cash flow from financing activities shifted from a net inflow of **RMB 13,006 thousand** in the first half of 2024 to a net outflow of **RMB 3,088 thousand** in the first half of 2025, mainly due to repayment of bank loans and reduced proceeds from share placement[120](index=120&type=chunk) [Notes to the Unaudited Interim Financial Report](index=34&type=section&id=Notes%20to%20the%20Unaudited%20Interim%20Financial%20Report) This section provides detailed notes to the unaudited interim financial report, covering significant accounting policies, revenue and segment information, profit before taxation, income tax, earnings per share, and various financial balances [Significant Accounting Policies](index=35&type=section&id=Significant%20Accounting%20Policies) This section outlines the significant accounting policies adopted in the interim financial report, noting its preparation in accordance with HKAS 34 and consistency with prior annual statements, with no material impact from recent accounting policy changes [Basis of preparation](index=35&type=section&id=Basis%20of%20preparation) This section details the basis of preparation for the interim financial report, adhering to GEM Listing Rules and HKAS 34 - This interim financial report has been prepared in accordance with the applicable disclosure requirements of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited and Hong Kong Accounting Standard 34 issued by the Hong Kong Institute of Certified Public Accountants[121](index=121&type=chunk)[124](index=124&type=chunk) [Changes in accounting policies](index=36&type=section&id=Changes%20in%20accounting%20policies) This section outlines changes in accounting policies, noting consistency with prior annual statements and no material impact from recent HKAS 21 (Revised) developments - Except for changes in accounting policies expected to be reflected in the 2025 annual financial statements, the interim financial report has been prepared in accordance with the same accounting policies adopted in the 2024 annual financial statements[122](index=122&type=chunk)[125](index=125&type=chunk) - Developments such as the lack of exchangeability under HKAS 21 (Revised) had no significant impact on the manner in which the Group's results and financial position for the current or prior periods are prepared or presented in this interim financial report[128](index=128&type=chunk)[130](index=130&type=chunk) [Revenue and Segment Information](index=37&type=section&id=Revenue%20and%20Segment%20Information) This section details the Group's revenue by service line and segment, providing disaggregated revenue and Adjusted EBITDA for each reportable segment [Revenue](index=37&type=section&id=Revenue_Note) This section provides a detailed breakdown of the Group's revenue from customer contracts by major service lines - The Group's principal activities are providing traditional offline media advertising, online media advertising, creative design, public relations, marketing activities, and other services[129](index=129&type=chunk)[131](index=131&type=chunk) Revenue from Customer Contracts by Major Service Lines | Service Line | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Traditional offline media advertising services – as principal | 4,269 | 5,855 | | Traditional offline media advertising services – as agent | 7 | – | | Online media advertising services – as principal | 303 | 2,295 | | Online media advertising services – as agent | – | 1 | | Creative design, public relations, marketing activities and other services – as principal | 8,071 | 12,107 | | Creative design, public relations, marketing activities and other services – as agent | 53 | – | | **Total** | **12,703** | **20,258** | [Segment information](index=39&type=section&id=Segment%20information) This section presents the Group's reportable segment information, including revenue and Adjusted EBITDA for each business line - The Group's reportable segments are categorized by business line, including traditional offline media advertising services, online media advertising services, and creative design, public relations, marketing activities, and other services[135](index=135&type=chunk)[137](index=137&type=chunk) - The measure used for reportable segment profit is "Adjusted EBITDA" (Adjusted Earnings Before Finance Costs, Interest Income, Tax, and Depreciation)[142](index=142&type=chunk)[143](index=143&type=chunk) Reportable Segment Revenue and Profit (as of June 30, 2025) | Segment | Revenue (RMB '000) | Profit (Adjusted EBITDA) (RMB '000) | | :--- | :--- | :--- | | Traditional offline media advertising services | 4,276 | 2,730 | | Online media advertising services | 303 | 194 | | Creative design, public relations, marketing activities and other services | 8,124 | 5,201 | | **Total** | **12,703** | **8,125** | Reportable Segment Revenue and Profit (as of June 30, 2024) | Segment | Revenue (RMB '000) | Profit (Adjusted EBITDA) (RMB '000) | | :--- | :--- | :--- | | Traditional offline media advertising services | 5,855 | 2,786 | | Online media advertising services | 2,296 | 348 | | Creative design, public relations, marketing activities and other services | 12,107 | 1,656 | | **Total** | **20,258** | **4,790** | [Profit Before Taxation](index=45&type=section&id=Profit%20Before%20Taxation) This section details the components of profit before taxation, including finance costs, staff costs, and other operating expenses [Finance costs](index=45&type=section&id=Finance%20costs) This section provides an overview of the Group's finance costs, including interest on bank loans and bank charges Finance Costs Overview | Item | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Interest on bank loans | 88 | 68 | | Interest on lease liabilities | – | 21 | | Bank charges | 6 | 14 | | **Total** | **94** | **103** | [Staff costs (including directors' emoluments)](index=46&type=section&id=Staff%20costs%20(including%20directors'%20emoluments)) This section details the Group's staff costs, including salaries, wages, bonuses, benefits, and retirement plan contributions Staff Costs Overview | Item | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Salaries, wages, bonuses and benefits | 2,842 | 3,833 | | Contributions to retirement benefit schemes | 303 | 392 | | **Total** | **3,145** | **4,225** | [Other items](index=47&type=section&id=Other%20items) This section presents an overview of other items affecting profit before taxation, such as media costs, marketing expenses, depreciation, and impairment losses Other Items Overview | Item | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Media costs | 3,038 | 6,053 | | Public relations, marketing activities and other services costs | 1,538 | 9,415 | | Depreciation expense – property, plant and equipment | 163 | – | | Depreciation expense – right-of-use assets | – | – | | Impairment losses (recognised)/(reversed) – trade receivables | 2,237 | (933) | | Impairment losses (recognised)/(reversed) – other receivables | – | (100) | [Income Tax](index=48&type=section&id=Income%20Tax) This section details the Group's income tax for the reporting period, which was zero for deferred tax Income Tax Overview | Item | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Deferred tax – arising from temporary differences | – | – | [Earnings Per Share](index=48&type=section&id=Earnings%20Per%20Share) This section details the Group's basic and diluted earnings per share, which remained consistent with the prior year, with no potentially dilutive ordinary shares issued [Basic earnings per share](index=48&type=section&id=Basic%20earnings%20per%20share) This section explains the calculation of basic earnings per share based on profit attributable to shareholders and the weighted average number of ordinary shares - Basic earnings per share are calculated based on the profit attributable to ordinary equity holders of the Company of **RMB 0.4 million** for the period (2024: RMB 0.3 million) and the weighted average number of ordinary shares outstanding of **432,000,000 shares** for the period (2024: 201,000,000 shares)[156](index=156&type=chunk)[157](index=157&type=chunk) Weighted Average Number of Ordinary Shares | Item | 2025 | 2024 | | :--- | :--- | :--- | | Ordinary shares outstanding at January 1 | 432,000,000 | 180,000,000 | | Effect of placing of new shares on March 15, 2024 | – | 21,000,000 | | Weighted average number of ordinary shares at June 30 | 432,000,000 | 201,000,000 | [Diluted earnings per share](index=49&type=section&id=Diluted%20earnings%20per%20share) This section confirms that no potentially dilutive ordinary shares were issued during the reporting period, resulting in no difference between basic and diluted EPS - No potentially dilutive ordinary shares were issued for the six months ended June 30, 2025 and 2024[159](index=159&type=chunk)[160](index=160&type=chunk) [Trade Receivables](index=49&type=section&id=Trade%20Receivables) This section provides an ageing analysis of the Group's trade receivables, highlighting a significant increase and the proportion due within one month Ageing Analysis of Trade Receivables (net of loss allowance) | Ageing | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Within one month | 16,121 | 598 | | One to three months | 266 | 368 | | Three to twelve months | 721 | 1,350 | | **Total** | **17,108** | **2,316** | - Total trade receivables significantly increased from **RMB 2,316 thousand** at the end of 2024 to **RMB 17,108 thousand** as of June 30, 2025[162](index=162&type=chunk) [Other Receivables, Deposits and Prepayments](index=50&type=section&id=Other%20Receivables,%20Deposits%20and%20Prepayments) This section details the Group's other receivables, deposits, and prepayments, identifying major components and recognized impairment losses Other Receivables, Deposits and Prepayments Overview | Item | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Prepayments for media costs | 5,156 | 6,949 | | Prepayments to media service providers (net of impairment losses) | – | – | | Prepayments for commodity trading to suppliers (net of impairment losses) | 34,619 | 34,619 | | Deposits paid for acquisition of investments (net of impairment losses) | 6,159 | 6,159 | | Others (net of impairment losses) | 2,072 | 3,720 | | Loan receivables (net of impairment losses) | – | – | | **Total** | **48,006** | **51,447** | - Prepayments to media service providers and loan receivables have been fully provided for impairment losses[165](index=165&type=chunk) [Trade and Other Payables](index=51&type=section&id=Trade%20and%20Other%20Payables) This section provides an ageing analysis of trade payables and an overview of other payables, detailing their composition and changes Ageing Analysis of Trade Payables | Ageing | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Within one month | 710 | 816 | | One to three months | 3,276 | 1,595 | | Three to twelve months | – | 33 | | Over twelve months | 1,173 | 1,735 | | **Total Trade Payables** | **5,159** | **4,179** | Other Payables Overview | Item | June 30, 2025 (RMB '000) | December 31, 2024 (RMB '000) | | :--- | :--- | :--- | | Other taxes payable | – | 89 | | Accrued salaries | 612 | 547 | | Advances from customers | 4,000 | 4,000 | | Others | 2,031 | 2,264 | | **Total** | **11,802** | **11,079** | [Bank Loans](index=52&type=section&id=Bank%20Loans) This section details the Group's bank loan balance, guarantees, pledged assets, and compliance with loan covenants, noting all loans are repayable within one year Bank Loans Overview | Indicator | June 30, 2025 (RMB million) | December 31, 2024 (RMB million) | | :--- | :--- | :--- | | Bank Loans | 1.5 | 4.5 | | Pledged Receivables | 7.1 | 12.1 | - Bank loans are guaranteed by the Group's major shareholder and pledged with receivables[169](index=169&type=chunk) - As of June 30, 2025, the Group had not breached any covenants related to drawn loans[170](index=170&type=chunk)[171](index=171&type=chunk) - Bank loans are repayable within one year[172](index=172&type=chunk) [Capital, Reserves and Dividends](index=53&type=section&id=Capital,%20Reserves%20and%20Dividends) This section outlines the Group's share capital structure, dividend policy, and capital management objectives, emphasizing continuous operation and balanced shareholder returns [Share capital](index=53&type=section&id=Share%20capital) This section provides an overview of the company's authorized, issued, and fully paid share capital Share Capital Overview | Item | Number of Shares (par value HK$0.1 per share) | Par Value (HK$) | | :--- | :--- | :--- | | Authorized share capital (December 31, 2024 and June 30, 2025) | 2,000,000,000 | 20,000,000 | | Issued and fully paid share capital (December 31, 2024 and January 1, 2025) | 432,000,000 | 4,320,000 | | Issued and fully paid share capital (June 30, 2025) | 432,000,000 | 4,320,000 | [Dividends](index=53&type=section&id=Dividends_Note) This section confirms that the Board did not recommend an interim dividend for the reporting period - The Board did not recommend the payment of an interim dividend for the six months ended June 30, 2025 (2024: nil)[175](index=175&type=chunk)[176](index=176&type=chunk) [Capital management](index=54&type=section&id=Capital%20management) This section describes the Group's capital management objectives, focusing on safeguarding continuous operation and balancing shareholder returns with a sound capital position - The Group's primary objective in managing capital is to safeguard its ability to continue as a going concern, provide returns for shareholders, and benefits for other stakeholders[177](index=177&type=chunk)[181](index=181&type=chunk) - The Group actively and regularly reviews and manages its capital structure to maintain a balance between the higher shareholder returns that might be possible with higher levels of borrowing and the benefits and security afforded by a sound capital position[178](index=178&type=chunk)[179](index=179&type=chunk) [Material Related Party Transactions](index=55&type=section&id=Material%20Related%20Party%20Transactions) This section discloses the Group's material transactions with related parties, including key management personnel compensation, provision of media services, procurement of media resources, and office leases [Key management personnel compensation](index=55&type=section&id=Key%20management%20personnel%20compensation) This section provides an overview of compensation for key management personnel, including salaries, benefits, and retirement plan contributions Key Management Personnel Compensation Overview | Item | 2025 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | | Salaries and other benefits | 623 | 674 | | Defined contribution retirement plans | 67 | 65 | | **Total** | **690** | **739** | [Other material related parties transactions and balances](index=56&type=section&id=Other%20material%20related%20parties%20transactions%20and%20balances) This section details other material related party transactions and balances, including media services, resource purchases, office leases, and bank loan guarantees - The Group provided media services to related parties, with service revenue of **RMB 0.4 million** in the first half of 2025 (2024: RMB 1.7 million) and trade receivables of **RMB 1.4 million** (2024: RMB 1.8 million)[185](index=185&type=chunk)[186](index=186&type=chunk) - The Group purchased media resources from related parties, with purchase amounts of **RMB 0.5 million** in the first half of 2025 (2024: RMB 1.2 million) and payables of **RMB 0.9 million** (2024: RMB 0.5 million)[185](index=185&type=chunk)[186](index=186&type=chunk) - The Group leased offices from related parties, with rent and management fees of **RMB 0.3 million** in the first half of 2025 (2024: RMB 0.9 million) and deposits receivable of **RMB 0.1 million** (2024: RMB 0.3 million)[186](index=186&type=chunk)[187](index=187&type=chunk) - As of June 30, 2025, bank loans were guaranteed by the Company and the Group's major shareholders[187](index=187&type=chunk)

Icon Culture Global Company Limited 天泓文創國際集團有限公司 (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立的有限公司 ) (Stock Code 股份代號: 8500) N OT I FIC ATI ON LET TE R 通 知 信 函 Dear Non-registered Shareholders(Note 1) , Icon Culture Global Company Limited (the "Company") – Notice of Publication of 2025 Interim Report (the "Current Corporate Communication(s)") English and Chinese versions of the Company's Current Corporate Communication(s) are currently available on the Company's website at www.ico ...

(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: 8500) N OT I FIC ATI ON LET TE R 通 知 信 函 Icon Culture Global Company Limited 天泓文創國際集團有限公司 Dear Registered Shareholders, Icon Culture Global Company Limited (the "Company") – Notice of Publication of 2025 Interim Report (the "Current Corporate Communication(s)") The English and Chinese versions of the Company's Current Corporate Communication(s) are currently available on the Company's website at www.iconspace.co ...

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: 天泓文創國際集團有限公司 呈交日期: 2025年9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) | 08500 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | 本月底法定/註冊股本總額： HKD 20,000 ...

Group 1 - The company Tianhong Cultural (08500) announced that the subscription agreement has become invalid due to the failure to meet the preconditions by August 31, 2025 [1] - Both the company and the subscriber are released from all obligations under the subscription agreement [1]

Group 1 - The subscription agreement of Tianhong Cultural Innovation (08500) has become invalid due to the failure to meet the preconditions by August 31, 2025 [1] - Both the company and the subscriber are released from all obligations under the subscription agreement [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 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。 本公告僅供參考之用，並不構成收購、購買或認購證券之邀請或要約。 Icon Culture Global Company Limited 天 泓 文 創 國 際 集 團 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號： 8500） 有關發行可換股債券的 認購協議失效 承董事會命 天泓文創國際集團有限公司 主席 陳宗憲 茲提述本公司日期為二零二五年六月五日及二零二五年六月十七日之公告（「該等公告」）， 內容有關發行可換股債券。除另有說明外，本公告所用詞彙與該等公告所界定者具有相 同涵義。 由於完成認購事項之先決條件未能於二零二五年八月三十一日或之前達成，認購協議已 告失效並歸於無效，本公司與認購方雙方均獲釋除認購協議項下之所有責任。 香港，二零二五年九月一日 於本公告日期，執行董事為姚通先生、梁薇女士（行政總裁兼合規主任）及劉標先生；非 執行董事為陳宗憲先生（主席 ...