[Financial Highlights](index=2&type=section&id=Financial%20Highlights) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, Group revenue decreased by 9.0% year-on-year to HK$370 million, gross profit significantly declined by 32.2% to HK$114 million. Due to reduced gross profit and lower net other income, profit attributable to owners of the Company sharply decreased by 52.2% year-on-year to HK$45.15 million, and basic earnings per share decreased to 4.91 HK cents Key Financial Performance for H1 2025 | Metric | For the six months ended Jun 30, 2025 (HK$ Thousand) | For the six months ended Jun 30, 2024 (HK$ Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 369,837 | 406,237 | -9.0% | | Gross Profit | 113,712 | 167,796 | -32.2% | | Profit Before Income Tax Expense | 55,126 | 107,058 | -48.5% | | Profit Attributable to Owners of the Company | 45,150 | 94,552 | -52.2% | | Basic & Diluted EPS (HK Cents) | 4.91 | 9.15 | -46.3% | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, Group total assets increased to HK$858 million, total liabilities increased to HK$166 million, and net assets (total equity) amounted to HK$692 million. Net current assets remained stable, but bank borrowings increased Financial Position Summary | Metric | As of Jun 30, 2025 (HK$ Thousand) | As of Dec 31, 2024 (HK$ Thousand) | Change | | :--- | :--- | :--- | :--- | | Non-current Assets | 250,965 | 220,048 | +14.1% | | Current Assets | 607,315 | 576,739 | +5.3% | | **Total Assets** | **858,280** | **796,787** | **+7.7%** | | Current Liabilities | 157,990 | 139,882 | +12.9% | | Non-current Liabilities | 8,163 | 9,933 | -17.8% | | **Total Liabilities** | **166,153** | **149,815** | **+10.9%** | | **Net Assets** | **692,127** | **646,972** | **+7.0%** | [Consolidated Statement of Cash Flows](index=6&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, Group cash flow from operating activities turned positive, achieving a net inflow of HK$31.97 million, primarily due to improved operational efficiency. Investing activities continued to show a net outflow, mainly for the purchase of property, plant, and equipment. Financing activities recorded a net inflow due to new bank borrowings. Cash and cash equivalents at period-end increased to HK$338 million Cash Flow Summary | Item | For the six months ended Jun 30, 2025 (HK$ Thousand) | For the six months ended Jun 30, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Net Cash From/(Used In) Operating Activities | 31,969 | (21,265) | | Net Cash Used In Investing Activities | (33,198) | (44,053) | | Net Cash From/(Used In) Financing Activities | 14,947 | (36,838) | | Net Increase/(Decrease) in Cash & Cash Equivalents | 13,718 | (102,156) | | Cash & Cash Equivalents at Period-End | 338,232 | 234,616 | [Notes to the Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) [3. Revenue and Segment Information](index=8&type=section&id=3.%20Revenue%20and%20Segment%20Information) The Group's core business is the manufacturing and sale of candle products, constituting a single operating segment. By product type, scented candles were the primary revenue source, though their sales slightly decreased year-on-year. By geographical location, the US market contributed the vast majority of revenue, but saw a 13.0% year-on-year decrease; conversely, UK market revenue significantly increased Revenue by Product Type | Product Type | H1 2025 (HK$ Thousand) | H1 2024 (HK$ Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Household Candles | 48,356 | 54,734 | -11.7% | | Scented Candles | 268,851 | 274,948 | -2.2% | | Decorative Candles | 11,946 | 8,585 | +39.1% | | Others (incl. Aroma Diffusers) | 40,684 | 67,970 | -40.1% | | **Total** | **369,837** | **406,237** | **-9.0%** | Revenue by Customer Location | Region | H1 2025 (HK$ Thousand) | H1 2024 (HK$ Thousand) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | United States | 341,950 | 393,050 | -13.0% | | United Kingdom | 27,356 | 9,352 | +192.5% | | Others | 531 | 3,835 | -86.2% | | **Total** | **369,837** | **406,237** | **-9.0%** | [11. Earnings Per Share](index=13&type=section&id=11.%20Earnings%20Per%20Share) Due to a decrease in profit for the period, basic earnings per share for the six months ended June 30, 2025, was 4.91 HK cents, a significant reduction from 9.15 HK cents in the prior year period. No potential ordinary shares were outstanding during the reporting period, thus diluted earnings per share is not presented - Basic earnings per share decreased from **9.15 HK cents** in the prior year period to **4.91 HK cents**[3](index=3&type=chunk) - The weighted average number of ordinary shares used to calculate basic earnings per share was **918,500,000 shares**, less than **1,033,184,066 shares** in the prior year period, potentially related to previous share repurchases[33](index=33&type=chunk)[6](index=6&type=chunk) [10. Dividends](index=13&type=section&id=10.%20Dividends) The Board did not recommend an interim dividend for the six months ended June 30, 2025, consistent with the prior year period - No dividends were paid, declared, or recommended for the six months ended June 30, 2025, and 2024[30](index=30&type=chunk) [Management Discussion and Analysis](index=20&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=20&type=section&id=Business%20Review) The Group's core business is the manufacturing and sale of candle products, with the US and UK as primary markets. Despite enhanced production capacity from the new automated factory in Vietnam, recent US imposition of a 20% tariff on Vietnamese imports significantly increased export costs, pressuring profit margins. To address these challenges, the Group plans to enhance production efficiency and explore market diversification - The Group primarily engages in candle product manufacturing and sales, with the **United States** and **United Kingdom** as key markets, and **Vietnam** as the main production hub (accounting for over **90%** of total capacity)[49](index=49&type=chunk)[51](index=51&type=chunk) - The main challenge is the **US government's imposition of a 20% tariff** on Vietnamese imports, which will significantly increase export costs and compress future profit margins[51](index=51&type=chunk) - Response strategies include enhancing production efficiency to reduce costs and actively exploring other markets like **Europe** for diversification[51](index=51&type=chunk) [Financial Review](index=21&type=section&id=Financial%20Review) In the first half of 2025, the Group's financial performance faced pressure. Revenue decreased by 9.0% due to lower sales volume of key products. Gross profit margin decreased from 41.3% to 30.7% due to increased unit prices of raw materials, leading to a significant 32.2% reduction in gross profit. Despite a decrease in administrative expenses, the combined impact of reduced gross profit and other income resulted in a sharp 52.2% year-on-year decline in net profit Year-on-Year Financial Performance Changes and Reasons | Item | H1 2025 | H1 2024 | Y-o-Y Change | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Revenue | 369.8 HK$ Million | 406.2 HK$ Million | -9.0% | Decreased sales volume of household, scented, and other candle products | | Gross Profit | 113.7 HK$ Million | 167.8 HK$ Million | -32.2% | Increased unit prices of raw materials led to lower gross profit margin | | Gross Profit Margin | 30.7% | 41.3% | -10.6 percentage points | Increased unit prices of raw materials | | Administrative Expenses | 48.6 HK$ Million | 72.7 HK$ Million | -33.1% | Reduced salaries and allowances, legal and professional fees | | Net Profit | 45.2 HK$ Million | 94.6 HK$ Million | -52.2% | Combined impact of reduced gross profit and other income | [Liquidity and Financial Resources](index=23&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's financial position remained robust, with a current ratio of approximately 3.8 times. However, due to increased bank borrowings, the gearing ratio (total debt/total equity) rose from 2.5% to 5.7%. The Group has unutilized banking facilities of approximately HK$86.7 million, providing sufficient financial resources to support its operations Key Financial Ratios | Metric | As of Jun 30, 2025 | As of Dec 31, 2024 | | :--- | :--- | :--- | | Current Ratio | Approx. 3.8 times | Approx. 4.1 times | | Gearing Ratio | Approx. 5.7% | Approx. 2.5% | | Unutilized Banking Facilities | Approx. HK$86.7 million | Approx. HK$115.9 million | - The increase in gearing ratio is primarily due to **increased bank borrowings**[63](index=63&type=chunk) [Use of Proceeds](index=26&type=section&id=Use%20of%20Proceeds) As of June 30, 2025, all net proceeds from the listing, approximately HK$44.5 million, have been fully utilized in line with the business objectives outlined in the prospectus, primarily for upgrading and acquiring production equipment, purchasing new machinery, installing an ERP system, and repaying bank loans - Net proceeds from the listing, approximately **HK$44.5 million**, were fully utilized by June 30, 2025, with no remaining balance[77](index=77&type=chunk)[84](index=84&type=chunk) Allocation and Utilization of Proceeds | Purpose | Allocated Amount (HK$ Million) | Status | | :--- | :--- | :--- | | Upgrading existing production equipment | 6.2 | Utilized | | Acquiring new production equipment | 18.1 | Utilized | | Purchasing new machinery | 9.2 | Utilized | | Installing Enterprise Resource Planning system | 2.0 | Utilized | | Repaying part of bank loans | 6.9 | Utilized | | General working capital | 2.1 | Utilized | | **Total** | **44.5** | **Fully Utilized** | [Corporate Governance and Other Information](index=28&type=section&id=Corporate%20Governance%20and%20Other%20Information) During the reporting period, the Company complied with the required standard of dealings and corporate governance code set out in the GEM Listing Rules. The Audit Committee has reviewed the unaudited consolidated results for the period and deemed their preparation compliant with applicable accounting standards and disclosure requirements - The Company has complied with the required standard of dealings for directors' securities transactions and the Corporate Governance Code under the GEM Listing Rules[85](index=85&type=chunk)[87](index=87&type=chunk) - The Audit Committee, comprising **three independent non-executive directors**, has reviewed this interim results announcement[88](index=88&type=chunk)[89](index=89&type=chunk) - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the reporting period up to the date of this announcement[86](index=86&type=chunk)

Group 1: Company Earnings - PCCW (00008.HK) reported a revenue of HKD 18.922 billion for the first half, a year-on-year increase of 7%, with a net loss of HKD 0.445 billion, narrowing by 4% [1] - Xinyi Solar (00968.HK) recorded a revenue of HKD 10.932 billion, a decrease of 6.5% year-on-year, with a net profit of HKD 0.746 billion, down 58.8% [2] - Xinyi Glass (00868.HK) had a revenue of HKD 9.821 billion, a year-on-year decrease of 9.7%, with a net profit of HKD 1.013 billion, down 59.6% [3] - Xinyi Energy (03868.HK) reported a revenue of HKD 1.21 billion, an increase of 7.7% year-on-year, with a net profit of HKD 0.45 billion, up 23.4% [4] - DTXS Silk Road Investment (02510.HK) issued a profit warning, expecting a mid-term net profit of approximately USD 180-200 million, a year-on-year increase of about 220% to 255% [5] - Lianhua Supermarket (00980.HK) issued a profit warning, expecting a mid-term net profit of approximately HKD 25-55 million [6] - Tibet Water Resources (01115.HK) issued a profit warning, expecting a mid-term net profit of approximately HKD 36 million, a year-on-year increase of about 300% [7] - Foton Motor (00420.HK) issued a profit warning, expecting a mid-term net profit of HKD 30.7 million, turning from loss to profit [8] - Hong Kong Travel (00308.HK) issued a profit warning, expecting a mid-term net loss exceeding HKD 70 million, turning from profit to loss [9] - Poly Property Group (00119.HK) issued a profit warning, expecting a mid-term net profit to decline by 40%-50% year-on-year [10] - Kefu Shan Group Holdings (08512.HK) issued a profit warning, expecting a mid-term net profit to decrease to approximately HKD 43-47 million [11] - Mobi Development (00947.HK) issued a profit warning, expecting a mid-term net loss of approximately HKD 32 million [12] - Changmao Biochemical Engineering (00954.HK) issued a profit warning, expecting a mid-term net loss of approximately HKD 24-27 million [13] - Yunyou Holdings (00484.HK) issued a profit warning, expecting a mid-term net loss to increase to approximately HKD 21 million [14] - Weiya Li (00854.HK) issued a profit warning, expecting a mid-term net profit of approximately HKD 15-25 million, turning from loss to profit [15] Group 2: Automotive Sales - BYD Company (01211.HK) reported sales of approximately 2.4903 million new energy vehicles in the first seven months, a year-on-year increase of 27.35% [16] - Great Wall Motors (02333.HK) reported total vehicle sales of approximately 674,200 units in the first seven months, a year-on-year increase of 3.57% [17] - Li Auto (02015.HK) delivered 30,731 new vehicles in July [18] - Geely Automobile (00175.HK) reported total vehicle sales of 237,700 units in July, a year-on-year increase of approximately 58% [19] Group 3: Company News - Sinopec Engineering (02386.HK) signed a front-end engineering design (FEED) contract for a large green hydrogen project in Yanbu, Saudi Arabia, with a contract value expected to reach several billion USD [20] - InnoCare Pharma (02577.HK) partnered with NVIDIA to jointly promote the large-scale implementation of 800 VDC power architecture in AI data centers [21] - Zijin Mining (02899.HK) received parliamentary approval for the mining lease of the Akyem gold mine in Ghana, with a total transaction value of USD 1 billion [22] - Codex-B (02487.HK) received approval from the Hong Kong Department of Health for the listing of CU-40102 (topical finasteride spray) for the treatment of androgenetic alopecia [23] - Mixue Group (02097.HK) subscribed to a wealth management product from Pudong Development Bank, involving an investment of HKD 300 million [24] Group 4: Buyback Activities - Hang Seng Bank (00011.HK) repurchased 200,000 shares at a cost of approximately HKD 22.5922 million, with repurchase prices ranging from HKD 112.4 to 114.3 [25] - Vitasoy International (00345.HK) repurchased 1.844 million shares at a cost of approximately HKD 16.89 million, with repurchase prices ranging from HKD 9.14 to 9.17 [26]

Core Viewpoint - The company expects a significant decrease in profit attributable to shareholders for the first half of 2025, projecting a profit of approximately HKD 43 million to HKD 47 million, compared to HKD 94.6 million for the six months ending June 30, 2024 [1] Summary by Relevant Categories Profit Forecast - The anticipated profit for the first half of 2025 is between HKD 43 million and HKD 47 million, indicating a substantial decline from the previous year's profit of HKD 94.6 million [1] Reasons for Profit Decrease - The decrease in profit is attributed to several factors: 1. A reduction in new customer orders leading to decreased revenue [1] 2. Increased raw material costs resulting in a lower gross margin [1] 3. The absence of a recovery of claims provision amounting to approximately HKD 29.7 million that was recognized in the previous period [1]

公告称，公司拥有人应占溢利预期减少主要由于(i)客户新订单减少导致收入减少;(ii)集团的原材料成本 增加令毛利率减少;及(iii)缺少于截至2024年6月30日止六个月取得回收索赔拨备拨回约2970万港元所 致。 智通财经APP讯，凯富善集团控股(08512)发布公告，集团预期于2025年上半年将取得公司拥有人应占溢 利约4300万港元至4700万港元，相比截至2024年6月30日止六个月则取得约9460万港元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內 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依賴該等內容而引致的任何損失承擔任何責任。 本集團仍在落實其2025年上半年的中期業績。本公告所載資料僅以對本集團2025 年上半年的未經審核綜合管理賬目的初步審閱及董事會現時可得資料為基準，故 未必準確。本集團2025年上半年的未經審核綜合管理賬目尚未落實亦未經本公司 審核委員會審閱。本集團2025年上半年的中期業績可能有別於本公告所提述的資 料。股東及潛在投資者務請細閱本公司2025年上半年的中期業績公告，預期2025 年上半年的中期業績公告將根據GEM上市規則於2025年8月8日刊發。 1 股東及潛在投資者於買賣本公司股份時，務請審慎行事。 承董事會命 Hyfusin Group Holdings Limited 凱富善集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8512） 盈利警告 本公告乃凱富善集團控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根 據聯交所GEM證券上市規則（「GEM上市規則」 ...

董事會召開日期 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Hyfusin Group Holdings Limited 凱富善集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8512） 凱富善集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公 司將於二零二五年八月八日（星期五）舉行董事會會議，藉以（其中包括）批准本公 司及其附屬公司截至二零二五年六月三十日止六個月之未經審核中期業績以供發 佈，及考慮派發中期股息（如有）。 承董事會命 於本公告日期，董事為： 執行董事 黃偉捷先生 黃聞捷先生 黃韵殷女士 凱富善集團控股有限公司 主席 黃偉捷先生 香港，二零二五年七月二十九日 陳昌達先生 何志威先生 朱健宏先生 本公告的資料乃遵照香港聯合交易所有限公司的GEM證券上市規則而刊載，旨在 提供有關本公司的資料；董事願就本公告的資料共同及個別地承擔全部責任。各 董事在作出一切合理查詢後，確認就彼等所知及所信，本公 ...

Hyfusin Group Holdings Limited 凱富善集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8512） （「本公司」） 提名委員會的職權範圍 （本公司於二零一八年六月二十三日採納並於二零二五年六月二十日修訂） I. 組成 II. 主席 III. 秘書 5. 本公司的公司秘書（「公司秘書」）應為委員會之秘書。在公司秘書缺席的情況 下，其正式委任代表或任何獲出席委員會會議之成員委任的人士，須出席委 員會會議並作出會議記錄。 IV. 出席會議 6. 委員會會議之法定人數將為任何兩名成員（最少一名成員須為獨立非執行董 事）。 1 1. 凱富善集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）議決成立 名為提名委員會（「委員會」）的董事委員會。委員會旨在協助、物色、挑選並 向董事會推薦擔任本公司董事的合適候選人，並制定及向董事會推薦和監督 本公司的提名指引。 2. 委員會成員由董事會從董事當中委任，並由不少於三名成員組成，而成員當 中大多數應為獨立非執行董事（「獨立非執行董事」），其中最少有一名不同性 別的成員。 3. 委員會主席（「主席」）應由董事會委任，並應為董事 ...

（於開曼群島註冊成立之有限公司） （股份代號：8512） 董事名單與其角色和職能 自2025年6月20日起，凱富善集團控股有限公司之董事會（「董事會」）成員載列如下： 執行董事 黃偉捷先生 （主席） 黃聞捷先生 （行政總裁） 黃韵殷女士 獨立非執行董事 Hyfusin Group Holdings Limited 凱富善集團控股有限公司 陳昌達先生 何志威先生 朱健宏先生 共有三個董事委員會。下表載列相關董事會成員任職的該等委員會的成員資料。 | 董事委員會 | | | | | --- | --- | --- | --- | | | 審核委員會 | 薪酬委員會 | 提名委員會 | | 董事 | | | | | 黃偉捷先生 | — | — | — | | 黃聞捷先生 | — | — | — | | 黃韵殷女士 | — | — | 成員 | | 陳昌達先生 | 主席 | 成員 | 成員 | | 何志威先生 | 成員 | 成員 | 主席 | | 朱健宏先生 | 成員 | 主席 | 成員 | 香港，2025年6月20日 ...

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依賴該等內容而引致的任何損失承擔任何責任。 Hyfusin Group Holdings Limited 凱富善集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8512） 提名委員會組成變更 凱富善集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，執行 董事黃韵殷女士（「黃女士」）已獲委任為本公司提名委員會（「提名委員會」）成員， 自2025年6月20日起生效。 黃女士的履歷詳情連同根據香港聯合交易所有限公司GEM證券上市規則（「GEM 上市規則」）規定須予披露之其他相關資料，已載於本公司日期為2024年10月31日 之公告，以及本公司於2025年4月25日刊發的2024年年報內。於本公告日期，除本 公告所披露者外，有關資料並無任何變更。 於上述委任後，提名委員會合共由四名成員組成，分別為陳昌達先生、何志威先 生、朱健宏先生及黃韵殷女士。提名委員會中有一名不同性別的董事，且繼續由 多數獨立非執行董事組成。委任 ...

除上文所披露者外，(i)概無股份賦予股東權利出席股東週年大會並須根據GEM上 市規則第17.47A條所載於會上就提呈決議案放棄投贊成票；(ii)概無任何股東於股 東週年大會上就任何提呈決議案進行表決受到限制；(iii)概無股東須根據GEM上 市規則的規定於股東週年大會上就提呈決議案放棄投票；及(iv)概無人士於通函 中表明其將於股東週年大會上投票反對任何所提呈的決議案或放棄投票。 1 本公司的香港股份過戶登記分處聯合證券登記有限公司獲委任為股東週年大會的 監票人，以進行點票事宜。所有提呈決議案均獲股東批准。有關股東週年大會上 提呈的各項決議案的投票表決結果如下： 香港交易及結算所有限公司及香港聯合交易所有限公司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依賴該等內容而引致的任何損失承擔任何責任。 Hyfusin Group Holdings Limited 凱富善集團控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8512） 於2025年6月6日舉行的股東週年大會投票表決結果 凱富善集團控股有限公司（「本公司」）於2025年 ...