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，並明確表示概不會就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 JTF International Holdings Limited 金 泰 豐 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （「本公司」） （股份代號：9689） 董事會會議日期 謹此公告本公司董事會將於二零二五年八月二十二日舉行會議，以考慮： 1. 截至二零二五年六月三十日止六個月之中期業績；及 2. 宣佈中期股息（ 如有）。 香港，二零二五年八月十二日 於本公告的日期，本公司執行董事為徐子明先生、黃四珍女士、徐小平先生及徐 雅怡女士；及獨立非執行董事為徐興珊先生、靳紹聰先生及鄂宏達女士。 代表董事會 金泰豐國際控股有限公司 主席兼執行董事 徐子明 ...

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: 金泰豐國際控股有限公司 呈交日期: 2025年8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) | 09689 | 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 (-) | | | | | | | 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 ...

Core Viewpoint - King Tai Fung International Holdings (09689) expects to incur a loss attributable to shareholders of approximately RMB 5.5 million for the six months ending June 30, 2025, compared to a loss of approximately RMB 747,000 for the same period in 2024 [1] Group 1 - The anticipated increase in loss is primarily due to the suspension of the project to enhance the berthing capacity of the Zengcheng oil depot and the termination of the contract with the project's main contractor [1] - The company will write off prepayments made to the main contractor and construction assets, amounting to approximately RMB 4.194 million and RMB 1.75 million, respectively [1]

Core Viewpoint - Jintai Feng International Holdings (09689.HK) expects to report a loss attributable to shareholders of no more than approximately RMB 5.5 million for the six months ending June 30, 2025, compared to a loss of approximately RMB 747,000 in the same period last year [1] Financial Performance - The anticipated increase in loss is primarily due to the suspension of the project to enhance the docking capacity of the Zengcheng oil depot and the termination of the contract with the project's general contractor [1] - The company will write off prepayments made to the general contractor amounting to approximately RMB 4.194 million and construction assets of approximately RMB 1.75 million [1]

Core Viewpoint - The company, Jintai Feng International Holdings, anticipates a significant increase in losses for the six months ending June 30, 2025, projecting a loss attributable to shareholders of approximately RMB 5.5 million, compared to a loss of about RMB 747,000 in the same period of 2024 [1] Financial Performance - The expected increase in losses is primarily attributed to the suspension of a project aimed at increasing the berthing capacity of the Zengcheng oil depot and the termination of the contract with the project's general contractor [1] - The company will incur write-offs of prepayments made to the general contractor and construction assets, amounting to approximately RMB 4.194 million and RMB 1.75 million, respectively [1]

JTF International Holdings Limited 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，並明確表示概不會就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 金 泰 豐 國 際 控 股 有 限 公 司 截至二零二五年六月三十日止六個月的預計虧損增幅主要歸因於本集團暫停提升 增城油庫的碼頭停泊量的項目及終止與該項目總承建商的合約，導致撇銷支付給 總承建商的預付款項及在建資產，分別約為人民幣4,194,000元及人民幣1,750,000 元。 本 公 告 所 載資 料 僅 依 據 本 公 司 管 理層 根 據 本 集 團 現 時 可得 資 料（ 包 括本 集 團 截 至 二 零 二 五 年六 月 三 十 日 止 六 個 月 的未 經 審 核 綜 合 管 理 賬目 ）進 行 的 初步 評 估 而 作 出，而非依據任何經本公司核數師審計或審閱的數字或資料，該等資料可能會作 出調整及更改。本集團財務資料及業績詳情將於本集團截至二零二五 ...

Company Overview - Jintai Feng International Holdings Limited primarily operates through its subsidiary, Zengcheng Jintai Feng Fuel Co., Ltd., located in Guangdong Province, China, focusing on the wholesale of oil and other petrochemical products [2] - The company's wholesale operations are based in three oil depots located in Zengcheng, Panyu, and Gaolan Port Economic Zone, all within the Pearl River Delta [2] - The oil products offered by the company can be categorized into fuel oil, finished oil, and other petrochemical products, serving various applications including fuel for ships, transportation vehicles, machinery, and as raw materials for refineries [2] Financial Performance - As of December 31, 2024, Jintai Feng International Holdings reported total revenue of 1.12 billion yuan, a year-on-year decrease of 9.67% [1] - The net profit attributable to the parent company was -8.842 million yuan, reflecting a significant year-on-year decline of 485.95% [1] - The company's gross profit margin stood at 1.14%, with a debt-to-asset ratio of 8.72% [1] Market Position and Valuation - Currently, there are no institutional investment ratings for Jintai Feng International Holdings [1] - The company's price-to-earnings (P/E) ratio is -28.25, ranking 28th in the industry, while the average P/E ratio for the oil and gas industry is -3.5, with a median of 1.83 [1] - Comparatively, other companies in the industry have P/E ratios such as Zhujiang Steel Pipe at 0.97, Energy International Investment at 1.83, and China National Offshore Oil at 5.87 [1]

Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 1.12 billion, a decrease of about 9.7% compared to the previous year due to a decline in sales of other petrochemical products[11]. - Total revenue for the year ended December 31, 2024, was approximately RMB 1,119,646,000, a decrease from RMB 1,239,515,000 in 2023, representing a decline of about 9.7%[12]. - The gross profit for 2024 was approximately RMB 13 million, with a gross margin of 1.1%, which represents a decrease compared to the previous year[6]. - Gross profit for the year ended December 31, 2024, was RMB 12,778,000, with a gross margin of 1.1%, compared to a gross profit of RMB 57,896,000 and a margin of 4.7% in 2023, indicating a significant decline in profitability[15]. - The net loss for the year ended December 31, 2024, increased to approximately RMB 8,842,000 from RMB 1,509,000 in 2023, primarily due to reduced gross profit[22]. - Operating cash flow for the year ended December 31, 2024, was a net cash outflow of approximately RMB 172,017,000, compared to a net inflow of RMB 82,541,000 in 2023[23]. - Cash and cash equivalents as of December 31, 2024, were approximately RMB 33,410,000, down from RMB 189,706,000 in 2023, indicating a decrease of about 82.4%[24]. Sales and Market Dynamics - The total volume sold in 2024 was approximately 361,000 tons, with naphtha accounting for 38%, other chemical products 3%, and gasoline and diesel 59%[6]. - The domestic refined oil market showed an "N" shaped price trend in 2024, influenced by supply-demand dynamics and rising competition in the industry[5]. - The company is actively expanding sales channels for naphtha and industrial raw materials to optimize its revenue structure[6]. - The global economic uncertainties and geopolitical factors are expected to impact the company's performance in 2025, with a focus on promoting consumer spending and infrastructure investment in China[7]. Expenses and Cost Management - Sales cost for the year ended December 31, 2024, was approximately RMB 1,106,868,000, down from RMB 1,181,619,000 in 2023, reflecting a decrease of about 6.3%[13]. - The company paid approximately RMB 11 million in various taxes during the year[6]. - Distribution expenses decreased by approximately RMB 5,178,000 or 32.0% to about RMB 11,022,000 for the year ended December 31, 2024, due to reduced storage and handling costs[17]. - Administrative expenses decreased by approximately RMB 9,948,000 or 42.1% to about RMB 13,667,000 for the year ended December 31, 2024, primarily due to the absence of professional fees related to a stock exchange listing application[18]. Corporate Governance - The company has adhered to the corporate governance code as per the Stock Exchange Listing Rules for the year ending December 31, 2024[54]. - All directors confirmed compliance with the standard code of conduct for securities trading for the year ending December 31, 2024[55]. - The board consists of seven directors, including four executive directors and three independent non-executive directors[58]. - The audit committee held three meetings during the year ending December 31, 2024, focusing on financial reporting and risk management[66]. - The board is committed to maintaining effective corporate governance practices and ensuring compliance with relevant regulations[59]. Risk Management - The board is responsible for establishing and maintaining an effective risk management and internal control system[81]. - The risk management system includes annual risk identification and analysis, assessing the consequences and likelihood of risks, and developing risk management plans[82]. - Market risk is identified as a risk that could adversely affect profitability due to market price fluctuations, which the management actively monitors[84]. - The board has reviewed the risk management and internal control systems and found them effective and sufficient for the year ending December 31, 2024[89]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to aligning its green low-carbon strategy with China's carbon neutrality goals, actively collaborating with stakeholders to enhance operational sustainability[101]. - The company identified "Product Health and Safety," "Occupational Health and Safety," and "Energy Use" as the top three focus areas for the reporting period[114]. - Total greenhouse gas emissions decreased to 37.95 tons, a reduction of 29.66 tons or approximately 43.87% compared to 2023[122]. - The company has established a stakeholder engagement program to ensure a comprehensive understanding of stakeholder opinions and expectations[105]. - The company emphasizes the importance of corporate social responsibility and community investment through charitable activities[110]. Employee Management and Welfare - The total number of employees as of December 31, 2024, is 20, with a decrease of 17.65% in male employees from 17 to 14[146]. - Employee turnover rate for the reporting period is approximately 23.26%, down from 32.73% in the previous year[155]. - The company emphasizes employee welfare and mental health, adhering to national standards for product quality[143]. - The company is committed to providing a safe working environment and encourages employees to report any hazards or potential threats[156]. - The company has implemented various measures to reduce employee turnover, including competitive compensation and benefits[155]. Compliance and Legal Matters - The company has established policies to prevent bribery, fraud, and money laundering, with relevant compliance measures in place[180]. - The company has not been involved in any corruption-related violations or lawsuits during the reporting period[172]. - The company has obtained directors and employees' liability insurance to protect directors from potential claims[194]. - There are no significant contracts or arrangements established between the company and its controlling shareholders during the year ending December 31, 2024[192].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 1,119,646,000, a decrease of 9.7% compared to RMB 1,239,515,000 in the previous year[2] - Gross profit for the same period was RMB 12,778,000, down from RMB 57,896,000, indicating a significant decline in profitability[2] - The net loss for the year was RMB 8,842,000, compared to a loss of RMB 1,509,000 in the previous year, reflecting a worsening financial position[2] - The company reported a basic loss per share of RMB 1.0, compared to RMB 0.2 in the previous year, indicating increased losses on a per-share basis[2] - The gross profit for the fiscal year ending December 31, 2024, decreased by approximately RMB 45,118,000 or 77.9% compared to the previous year, primarily due to market price volatility and the impact of electric vehicle popularity post-COVID-19[33] - The company reported a loss before tax of approximately RMB 10,600,000 in 2024, compared to a profit of about RMB 5,734,000 in 2023, primarily due to reduced gross profit[43] - The net loss for the year increased from approximately RMB 1,509,000 in 2023 to about RMB 8,842,000 in 2024, mainly due to reduced gross profit[45] Assets and Liabilities - Total assets decreased to RMB 463,058,000 from RMB 496,747,000, showing a reduction in the company's asset base[3] - Total liabilities also decreased to RMB 40,401,000 from RMB 65,248,000, indicating a reduction in the company's debt levels[3] - The company maintained cash and cash equivalents of RMB 33,410,000, down from RMB 189,706,000, highlighting liquidity challenges[3] - Trade receivables as of December 31, 2024, were RMB 20,542 million, down from RMB 51,017 million in 2023, indicating a significant reduction of 59.8%[27] - The net amount of trade receivables after provisions was RMB 19,099 million for 2024, compared to RMB 49,574 million in 2023, showing a decrease of 61.5%[27] - As of December 31, 2024, the group's current assets amounted to approximately RMB 421,381,000, a decrease of approximately RMB 9,691,000 compared to RMB 431,072,000 as of December 31, 2023[48] - As of December 31, 2024, the group had no borrowings, maintaining a debt ratio of zero[49] Revenue Sources and Sales - The company primarily engages in the sale of refined oil and other petrochemical products in China[11] - Revenue from external customer transactions accounted for approximately 10% of total revenue, with Customer A contributing RMB 964,279,000 and Customer B contributing RMB 163,049,000 in the previous year[15] - The sales of finished oil products generated revenue of RMB 1,013,353,000 from 145,587 tons in 2024, compared to RMB 894,128,000 from 130,591 tons in 2023, indicating an increase in average price per ton[35] - Service income for the fiscal year ending December 31, 2024, was approximately RMB 25,828,000, significantly higher than RMB 15,988,000 in 2023, reflecting a growth in service offerings[35] Cost and Expenses - The cost of goods sold for the year was RMB 1,221,434,000, compared to RMB 1,131,557,000 in the previous year, indicating an increase of approximately 7.9%[16] - The total operating expenses for the year were RMB 1,099,607,000, compared to RMB 1,238,657,000 in the previous year, showing a reduction of approximately 11.3%[16] - The total expenses for the year included significant costs such as transportation expenses of RMB 17,799,000 and short-term lease expenses of RMB 7,982,000[16] - Distribution expenses decreased by approximately RMB 5,178,000 or 32.0%, from about RMB 16,200,000 in 2023 to approximately RMB 11,022,000 in 2024[40] - Administrative expenses decreased by approximately RMB 9,948,000 or 42.1%, from about RMB 23,615,000 in 2023 to approximately RMB 13,667,000 in 2024[41] Future Outlook and Plans - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[2] - Future guidance indicates a cautious outlook, with expectations of continued challenges in revenue generation[2] - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming fiscal year[15] - The company plans to continue engaging in foreign trade to mitigate risks associated with market price fluctuations[33] Corporate Governance and Compliance - The company is registered as an exempted limited company in the Cayman Islands[4] - The ultimate holding company is XING MING LIMITED, with ownership of 80% and 20% by Mr. Xu and Ms. Huang respectively[5] - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards[6] - The financial statements are presented in Renminbi (RMB)[5] - The company has adhered to the corporate governance rules as stipulated in the listing rules up to December 31, 2024[72] - All directors confirmed compliance with the trading standards as of December 31, 2024[73] - The audit committee is responsible for reviewing and supervising the financial reporting process and internal control systems[75] - The auditors confirmed that the preliminary announcement aligns with the audited consolidated financial statements for the year ending December 31, 2024[76] Employee and Welfare Plans - The total employee cost for the group as of December 31, 2024, was approximately RMB 6,166,000, an increase from RMB 4,958,000 in 2023[59] - The group has established various welfare plans for employees in China, including basic medical insurance and unemployment insurance[60] Taxation - The group had no taxable profits in Hong Kong for the year ended December 31, 2024, and thus no provisions for Hong Kong profits tax were made[19] - The group’s standard corporate income tax rate in China remained at 25% for both 2024 and 2023[20] - The group recognized a deferred tax asset of RMB (1,412) million for the year ended December 31, 2024, compared to RMB (1,368) million in 2023[23] - The group’s unused tax losses can be carried forward indefinitely, with no foreseeable taxable income in the near future[19] Investments and Capital Expenditures - The company has no specific plans for significant investments or capital assets as of December 31, 2024[61] - The net proceeds from the share issuance amount to approximately RMB 20,803,000, with RMB 17,329,000 already utilized as of December 31, 2024[65] - The company plans to enhance the storage capacity of the Zengcheng oil depot by 11,038 cubic meters, with 7,564 cubic meters already completed[65] - Renovation of oil tanks, pipelines, and other facilities at the Zengcheng oil depot has been completed, with an investment of RMB 9,765,000[64] - The remaining unutilized proceeds are held in accounts at licensed banks in Hong Kong and China, expected to be fully utilized by December 31, 2025[65]

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was RMB 577,041.8 thousand, a significant increase from RMB 749,480 thousand in the same period of 2023[2] - Gross profit decreased to RMB 11,365 thousand, down from RMB 37,691 thousand year-on-year, indicating a decline in profitability[2] - For the six months ended June 30, 2024, the revenue from finished oil sales was RMB 746,381,000, a significant increase of 125.0% compared to RMB 331,413,000 in the same period of 2023[29] - The total revenue for the six months ended June 30, 2024, was RMB 770,418,000, up 2.5% from RMB 749,480,000 in the previous year[29] - The gross profit decreased by approximately RMB 26,326,300 or 69.8% year-on-year, resulting in a gross margin of -1.7% for the six months ended June 30, 2024, compared to 2.7% for the same period in 2023[62] Loss and Earnings Per Share - Net loss for the period was RMB 747 thousand, a reduction from RMB 8,499 thousand in the same period last year, reflecting better financial management[2] - Basic and diluted loss per share improved to RMB 0.1 cents from RMB 0.9 cents year-on-year, indicating a positive trend in earnings per share[2] - For the six months ended June 30, 2024, the company reported a loss of RMB 747,000, compared to a loss of RMB 8,499,000 for the same period in 2023, indicating a significant improvement in performance[42] - The basic loss per share for the six months ended June 30, 2024, was RMB 0.1 cents, compared to RMB 0.9 cents for the same period in 2023[43] Operational Efficiency - Operating loss narrowed to RMB 574 thousand compared to a loss of RMB 6,174 thousand in the previous year, showing improved operational efficiency[2] - The company continues to focus on improving operational strategies and exploring market expansion opportunities[2] - Future outlook includes potential new product developments and technology advancements to enhance market competitiveness[2] Cash Flow and Liquidity - The net cash used in operating activities for the first half of 2024 was RMB (118,996,000), compared to RMB (2,413,000) in the same period of 2023, indicating a substantial increase in cash outflow[7] - The net cash generated from financing activities was RMB 14,444,000 for the first half of 2024, a recovery from a net cash outflow of RMB (379,000) in the same period of 2023[7] - The cash and cash equivalents at the end of June 30, 2024, were RMB 85,779,000, down from RMB 104,466,000 at the end of June 30, 2023, reflecting a decrease of 17.9%[7] Assets and Liabilities - Total assets increased to RMB 522,379 thousand as of June 30, 2024, compared to RMB 496,747 thousand at the end of 2023, showing growth in asset base[2] - Total liabilities rose to RMB 91,627 thousand from RMB 65,248 thousand, indicating increased financial obligations[2] - The company's trade receivables decreased to RMB 44,381,000 as of June 30, 2024, from RMB 49,574,000 as of December 31, 2023, reflecting a reduction of approximately 10.4%[47] - The total trade and other receivables increased to RMB 70,402,000 as of June 30, 2024, compared to RMB 64,706,000 as of December 31, 2023, representing an increase of approximately 8.6%[47] - Trade payables decreased to RMB 1,602,000 as of June 30, 2024, from RMB 4,610,000 as of December 31, 2023, indicating a decline of approximately 65.3%[50] Tax and Other Income - The company incurred a tax expense of RMB 577,000 for the first half of 2024, compared to RMB 4,749,000 in the same period of 2023, indicating a significant reduction in tax liabilities[35] - The company reported a net other income of RMB 60,000 for the first half of 2024, recovering from a net loss of RMB (12,263,000) in the same period of 2023[30] Market Focus and Strategy - The company continues to focus on the Chinese market for its operations, with all revenue generated from this region[29] - The company is exploring the trade of naphtha, a finished oil used as a raw material in the chemical industry, to meet potential market demand[58] Capital and Investments - The company has significant capital commitments of RMB 8,483,000 as of June 30, 2024, which are contracted but not yet recognized as liabilities[53] - The group had no significant investments or major acquisitions during the six months ended June 30, 2024[77] - The group has no plans for significant investments or capital assets in the upcoming year[83] Corporate Governance - The company has complied with all corporate governance codes and regulations as of June 30, 2024[96]