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: 興業物聯服務集團有限公司 呈交日期: 2025年10月2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) | 09916 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | FF3 ...

興業物聯服務集團有限公司 XINGYE WULIAN SERVICE GROUP CO. LTD. (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：9916 2025中期報告 INTERIM REPORT CONTENTS 目錄 | Corporate Information 公司資料 | 2 | | --- | --- | | Management Discussion and Analysis 管理層討論及分析 | 4 | | Other Information 其他資料 | 18 | | Interim Condensed Consolidated Statement of Profit or Loss and Other | 26 | | Comprehensive Income | | | 中期簡明綜合損益及其他全面收益表 | | | Interim Condensed Consolidated Statement of Financ ...

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 FF301 FF301 II. 已發行股份及/或庫存股份變動 公司名稱: 興業物聯服務集團有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 09916 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0. ...

Core Viewpoint - The company reported a revenue of approximately RMB 185 million for the first half of 2025, reflecting a year-on-year growth of 10.35%, while the profit attributable to equity holders decreased by 21.78% to RMB 18.838 million, with basic earnings per share at RMB 0.0471 [1] Financial Performance - Revenue for the first half of 2025 was approximately RMB 185 million, representing a 10.35% increase year-on-year [1] - Profit attributable to equity holders for the same period was RMB 18.838 million, a decrease of 21.78% compared to the previous year [1] - Basic earnings per share stood at RMB 0.0471 [1] Business Strategy and Operations - The company continued its business strategy to diversify its property management and value-added services across both non-residential and residential properties [1] - The total managed property area expanded from approximately 11.0 million square meters as of December 31, 2024, to about 11.5 million square meters by June 30, 2025 [1] - As of June 30, 2025, the total contracted property area reached approximately 15.8 million square meters [1]

智通财经APP讯，兴业物联(09916)发布截至2025年6月30日止6个月中期业绩，集团收益人民币1.85亿 元，同比增长10.35%;股东应占溢利1883.8万元，同比减少21.78%;每股盈利4.71分。 ...

兴业物联(09916)发布截至2025年6月30日止6个月中期业绩，集团收益人民币1.85亿元，同比增长 10.35%;股东应占溢利1883.8万元，同比减少21.78%;每股盈利4.71分。 ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The Group's unaudited interim results for the six months ended June 30, 2025, show a 10.3% year-on-year increase in revenue to RMB 184.5 million, while gross profit slightly decreased by 1.2%, profit attributable to equity holders of the Company fell by 22.0%, and basic earnings per share also declined | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 184.5 | 167.2 | +10.3% | | Gross Profit | 49.4 | 50.0 | -1.2% | | Profit attributable to equity holders of the Company | 18.8 | 24.1 | -22.0% | | Basic earnings per share | 4.71 cents | 6.02 cents | -21.76% | [Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This section presents detailed profit or loss and other comprehensive income data for the six months ended June 30, 2025, showing increased revenue but also higher cost of services, selling and marketing expenses, and administrative expenses, leading to a decrease in profit before tax and profit for the period, while exchange differences shifted from loss to gain, impacting other comprehensive income | Indicator | H1 2025 (RMB thousand) | H1 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 184,513 | 167,201 | | Cost of services | (135,146) | (117,213) | | Gross Profit | 49,367 | 49,988 | | Other income, other gains and losses, net | 124 | (400) | | Selling and marketing expenses | (1,024) | (716) | | Administrative expenses | (23,909) | (15,709) | | Reversal of impairment losses on financial and contract assets | 907 | 405 | | Finance costs | (41) | (56) | | Profit before tax | 25,424 | 33,512 | | Income tax expense | (6,587) | (9,495) | | Profit for the period | 18,837 | 24,017 | | Exchange differences arising from translation of overseas operations | (1,955) | 750 | | Total comprehensive income for the period | 16,882 | 24,767 | | Profit attributable to equity holders of the Company | 18,838 | 24,084 | | Basic earnings per share | RMB 4.71 cents | RMB 6.02 cents | [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This section presents the consolidated financial position as of June 30, 2025, showing increases in both non-current and current assets, particularly in property, plant and equipment and properties under development, while total current liabilities slightly decreased, leading to improved net current assets and total equity, reflecting a robust financial structure | Indicator | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | **Non-current assets** | | | | Property, plant and equipment | 221,456 | 205,443 | | Right-of-use assets | 1,622 | 1,794 | | Deferred tax assets | 2,111 | 2,190 | | **Current assets** | | | | Properties under development | 157,157 | 140,973 | | Trade receivables | 52,306 | 55,717 | | Contract assets | 40,708 | 41,147 | | Cash and cash equivalents | 216,242 | 223,944 | | **Current liabilities** | | | | Trade payables | 23,162 | 24,302 | | Other payables and accrued expenses | 88,319 | 88,988 | | Contract liabilities | 95,767 | 96,555 | | Tax payable | 2,873 | 906 | | **Non-current liabilities** | | | | Provisions | 984 | 998 | | Lease liabilities | 1,590 | 1,595 | | Deferred tax liabilities | 590 | 590 | | **Total equity** | 516,853 | 499,971 | [Notes to the Interim Condensed Consolidated Financial Information](index=6&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes to the interim condensed consolidated financial information, covering key financial details such as company information, accounting policies, operating segments, revenue composition, taxation, dividends, earnings per share, receivables and payables, share capital, and related party transactions, offering essential context and supplementary information for understanding the financial statements [1. Company Information](index=6&type=section&id=1.%20Company%20Information) Xingye Wulian Service Group Co., Ltd. was incorporated in the Cayman Islands and listed on the Main Board of the Hong Kong Stock Exchange on March 9, 2020, primarily engaging in property management and value-added services, property engineering services, and property development, with Vistra Trust (BVI) Limited as its ultimate controlling company - The Company was incorporated on August 12, 2019, under the laws of the Cayman Islands and listed on the Main Board of the Hong Kong Stock Exchange on March 9, 2020[9](index=9&type=chunk) - The Group primarily engages in property management and value-added services, property engineering services, and property development[9](index=9&type=chunk) - The ultimate controlling company of the Company is Vistra Trust (BVI) Limited (as trustee of Fenghua Trust), a trust established by Ms. Huang Yanping, with Ms. Zhang Huiqi (a non-executive Director of the Company) as the protector[10](index=10&type=chunk) [2.1 Basis of Presentation](index=6&type=section&id=2.1%20Basis%20of%20Presentation) The interim condensed consolidated financial information is prepared in RMB, with all values rounded to the nearest thousand, in accordance with the disclosure requirements of Appendix D2 of the Listing Rules and International Accounting Standard 34 "Interim Financial Reporting" - The interim condensed consolidated financial information is prepared in accordance with the applicable disclosure requirements of Appendix D2 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and International Accounting Standard 34 "Interim Financial Reporting"[11](index=11&type=chunk) - The financial information is presented in RMB, with all values rounded to the nearest thousand[11](index=11&type=chunk) [2.2 Changes in Accounting Policies and Disclosures](index=6&type=section&id=2.2%20Changes%20in%20Accounting%20Policies%20and%20Disclosures) The accounting policies adopted for preparing the interim condensed consolidated financial information are consistent with the prior year, except for the initial adoption of new and revised International Financial Reporting Standards, including IAS 21 (Amendment) "Lack of Exchangeability" - The accounting policies adopted in preparing the interim condensed consolidated financial information are consistent with those adopted in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2024, except for the initial adoption of the following new and revised International Financial Reporting Standards during the current period[12](index=12&type=chunk) - The newly adopted standard includes IAS 21 (Amendment) "Lack of Exchangeability"[13](index=13&type=chunk) [3. Operating Segment Information](index=7&type=section&id=3.%20Operating%20Segment%20Information) The Group categorizes its operations into four reportable segments: property management and value-added services, property engineering services, property development, and others, with management allocating resources and assessing performance based on segment results, noting stable revenue in property management, significant growth in property engineering, and ongoing losses in property development, with no geographical analysis presented as operations are solely in Mainland China - The Group's business units are categorized into four reportable operating segments based on the services provided: property management and value-added services, property engineering services, property development, and others[14](index=14&type=chunk)[17](index=17&type=chunk) Segment Revenue (RMB thousand) | Segment | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Property Management and Value-Added Services | 150,392 | 148,201 | | Property Engineering Services | 14,766 | 2,668 | | Property Development | – | – | | Others | 19,355 | 16,332 | | **Total** | **184,513** | **167,201** | Segment Results (RMB thousand) | Segment | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Property Management and Value-Added Services | 22,185 | 35,954 | | Property Engineering Services | 376 | (2,335) | | Property Development | (355) | (117) | | Others | 4,061 | 2,064 | | **Total Segment Results** | **26,267** | **35,566** | - The Group operates solely in Mainland China, thus no geographical analysis of operations is presented[20](index=20&type=chunk) [4. Revenue](index=9&type=section&id=4.%20Revenue) The Group's revenue primarily stems from property management and value-added services, property engineering services, and other businesses like club services, charging pile services, and intermediary services, with revenue from property management and engineering services recognized over time, while other services are recognized at a point in time Revenue Analysis (RMB thousand) | Service Type | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Property Management and Value-Added Services | 150,392 | 148,201 | | Property Engineering Services | 14,766 | 2,668 | | Club Services | 7,232 | 6,881 | | Charging Pile Services | 8,059 | 6,281 | | Intermediary Services | 2,375 | 870 | | Others | 1,689 | 2,300 | | **Total** | **184,513** | **167,201** | Revenue Recognition Timing (RMB thousand) | Revenue Recognition Timing | H1 2025 | H1 2024 | | :--- | :--- | :--- | | At a point in time (Value-added services, club services, charging pile services, intermediary services, others) | 22,762 | 19,063 | | Over a period of time (Property management, property engineering services) | 161,751 | 148,138 | | **Total** | **184,513** | **167,201** | - Property management and value-added services are primarily provided to properties developed by related parties, including Yongzuan Group, Zhengsheng Industrial Group, and Zhengsheng Development Group[21](index=21&type=chunk) [5. Other Income, Other Gains and Losses, Net](index=10&type=section&id=5.%20Other%20Income%2C%20Other%20Gains%20and%20Losses%2C%20Net) Other income, other gains and losses, net, shifted from a loss in the prior period to a gain this period, primarily due to a significant reduction in exchange difference losses, with government grants and interest income also contributing Other Income, Other Gains and Losses, Net (RMB thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Government grants | 55 | 18 | | Interest income | 73 | 230 | | Exchange differences | (1) | (645) | | Other losses | (3) | (3) | | **Total** | **124** | **(400)** | - Government grants relate to income received or receivable as compensation for expenses or losses incurred, or as immediate financial support to the Group without future related costs, recognized in profit or loss during the period the grants become receivable[22](index=22&type=chunk) [6. Profit Before Tax](index=10&type=section&id=6.%20Profit%20Before%20Tax) This section details the key expenses and income affecting profit before tax, showing increases in staff costs, cost of services provided, and research and development expenses, alongside an increase in the reversal of impairment losses on financial and contract assets during the reporting period Items Deducted From/Credited To Profit Before Tax (RMB thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Staff costs (including Directors' emoluments) | 47,504 | 40,154 | | - Wages and salaries | 42,488 | 35,943 | | - Contributions to retirement benefit schemes | 5,016 | 4,211 | | Cost of services provided | 135,246 | 117,213 | | Depreciation of property, plant and equipment | 1,119 | 1,036 | | Depreciation of right-of-use assets | 172 | 172 | | Net exchange differences | (1) | 645 | | Research and development expenses | 1,201 | 884 | | Reversal of impairment losses on financial and contract assets | (907) | (405) | [7. Income Tax Expense](index=11&type=section&id=7.%20Income%20Tax%20Expense) The Group's income tax expense primarily arises from its Mainland China operations, with some subsidiaries enjoying a preferential corporate tax rate of 5% and Henan Wuxiang Intelligent Technology Co., Ltd. benefiting from a 15% high-tech enterprise preferential tax rate, while no income tax is levied in the Cayman Islands and British Virgin Islands, and overall income tax expense decreased during the reporting period - The Group is not subject to any income tax in the Cayman Islands and the British Virgin Islands[24](index=24&type=chunk) - Subsidiaries operating in Mainland China are subject to corporate income tax at 25% of their assessable income, with some companies enjoying a preferential tax rate of 5%, and Henan Wuxiang Intelligent Technology Co., Ltd. benefiting from a 15% preferential tax rate for high-tech enterprises[25](index=25&type=chunk) Income Tax Expense (RMB thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Current tax - China corporate income tax | 6,507 | 9,266 | | Deferred tax - Origination and reversal of temporary differences | 80 | 229 | | **Total** | **6,587** | **9,495** | [8. Dividends](index=11&type=section&id=8.%20Dividends) The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the prior corresponding period - The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: nil)[27](index=27&type=chunk) [9. Earnings Per Share Attributable to Equity Holders of the Company](index=11&type=section&id=9.%20Earnings%20Per%20Share%20Attributable%20to%20Equity%20Holders%20of%20the%20Company) Basic earnings per share are calculated based on the profit attributable to equity holders of the Company for the period and the weighted average number of ordinary shares outstanding during the period, with no potentially dilutive ordinary shares issued as of the end of the reporting period - The basic earnings per share amount is calculated based on the profit attributable to equity holders of the Company for the period and the weighted average number of 400,000,000 ordinary shares outstanding during the period[28](index=28&type=chunk)[31](index=31&type=chunk) Basic Earnings Per Share Calculation (RMB thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Profit attributable to equity holders of the Company | 18,838 | 24,084 | | Weighted average number of ordinary shares outstanding | 400,000,000 | 400,000,000 | - As of June 30, 2025, and 2024, the Group had no potentially dilutive ordinary shares outstanding[28](index=28&type=chunk) [10. Trade Receivables](index=12&type=section&id=10.%20Trade%20Receivables) This section details the composition and aging analysis of trade receivables, including amounts due from third parties and related parties, showing a decrease in total trade receivables at the end of the reporting period, with a significant reduction in related party trade receivables and an increase in third-party trade receivables Trade Receivables (RMB thousand) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Trade receivables from third parties | 39,474 | 29,436 | | Less: Loss allowance | (1,295) | (914) | | **Net trade receivables from third parties** | **38,179** | **28,522** | | Trade receivables from related parties | 15,776 | 30,228 | | Less: Loss allowance | (1,649) | (3,033) | | **Net trade receivables from related parties** | **14,127** | **27,195** | | **Total** | **52,306** | **55,717** | Aging Analysis of Trade Receivables (RMB thousand) | Aging | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Within 1 year | 42,846 | 39,946 | | 1 to 2 years | 7,301 | 14,111 | | 2 to 3 years | 2,011 | 1,523 | | 3 to 4 years | 148 | 137 | | **Total** | **52,306** | **55,717** | [11. Trade Payables](index=13&type=section&id=11.%20Trade%20Payables) This section provides an aging analysis of trade payables, which are non-interest-bearing, typically settled within three months, and whose carrying amounts approximate their fair values Aging Analysis of Trade Payables (RMB thousand) | Aging | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Within 1 year | 20,699 | 21,245 | | Over 1 year | 2,463 | 3,057 | | **Total** | **23,162** | **24,302** | - Trade payables are non-interest-bearing and generally settled within three months, with their carrying amounts approximating their fair values[32](index=32&type=chunk) [12. Share Capital](index=13&type=section&id=12.%20Share%20Capital) This section details the Company's share capital structure, including authorized share capital and the number and amount of issued and fully paid ordinary shares, noting that the number of issued shares remained unchanged during the reporting period, with all shares ranking pari passu in all respects Share Capital (RMB thousand) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Authorized share capital (ordinary shares of HK$0.01 each) | 89,858 | 89,858 | | Issued and fully paid (400,000,000 ordinary shares of HK$0.01 each) | 3,572 | 3,572 | - All shares issued during the period rank pari passu in all respects with other existing issued shares[33](index=33&type=chunk) [13. Related Party Transactions](index=14&type=section&id=13.%20Related%20Party%20Transactions) The Group engaged in various related party transactions, including providing property management and value-added services, property engineering services, and receiving property construction services from related parties, all conducted under mutually agreed terms and constituting continuing connected transactions under the Listing Rules, with outstanding balances at period-end, some settled via debt transfer agreements, and key management personnel compensation also disclosed Related Party Transactions (RMB thousand) | Transaction Type | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Provision of property management and value-added services to related parties | 11,631 | 5,094 | | Provision of property engineering services to related parties | 12,652 | 2,668 | | Provision of property construction services by related parties | (32,185) | – | - Related parties include Yongzuan Global Limited, Zhengsheng Industrial Co., Ltd. and its subsidiaries, and Henan Zhengsheng Enterprise Development Group Co., Ltd. and its subsidiaries, all related to the family trust of Ms. Zhang Huiqi, a non-executive Director of the Company[34](index=34&type=chunk) - Sales services provided to related parties are conducted under mutually agreed terms and constitute continuing connected transactions as defined in Chapter 14A of the Listing Rules[35](index=35&type=chunk)[36](index=36&type=chunk) - Henan Xingye IoT Management Technology Co., Ltd., a subsidiary of the Company, entered into debt transfer agreements with certain related parties to transfer receivables to Henan Zhengsheng Real Estate Co., Ltd. to settle net receivables and payables[37](index=37&type=chunk) Key Management Personnel Compensation (RMB thousand) | Item | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Short-term employee benefits | 725 | 1,037 | | Post-employment benefits | 81 | 80 | | **Total** | **806** | **1,117** | [Management Discussion and Analysis](index=16&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the Group's operating performance and financial position for the six months ended June 30, 2025, highlighting continued business expansion, particularly in managed property area and property engineering services revenue, but also a decrease in profit for the period due to increased cost of services, administrative expenses, and a decline in gross profit margin, with management detailing segment performance, cost control, financial metric changes, and future strategies including non-residential expansion, professional service enhancement, smart technology investment, and diversified value-added services [Business Overview](index=16&type=section&id=Business%20Overview) As a prominent property management service provider in Henan Province, the Group offers comprehensive property management, value-added, and property engineering services, with its managed property portfolio's gross floor area expanding and new property engineering contracts signed during the reporting period, alongside the acquisition of Zhengzhiyue in 2023 to expand into property development, with the Zhengzhou Zhengsheng Center project progressing well and expected completion by end of 2026 - The Group, established in 1999, is a renowned property management service provider in Henan Province, offering property management and value-added services, and property engineering services[40](index=40&type=chunk) - The gross floor area of the managed property portfolio expanded from approximately **11.0 million sq.m.** as of December 31, 2024, to approximately **11.5 million sq.m.** as of June 30, 2025, with the total gross floor area of the contracted property portfolio being approximately **15.8 million sq.m.**[41](index=41&type=chunk) - During the period, **20 new property engineering contracts** were entered into, with a total contract value of approximately **RMB 16.9 million**; the total contract value of remaining performance obligations for engineering services contracts was **RMB 52.8 million**[41](index=41&type=chunk) - The Group acquired Henan Zhengzhiyue Real Estate Co., Ltd. in 2023 to develop its property development business, with the Zhengzhou Zhengsheng Center project currently under construction and expected to be completed by the end of 2026[42](index=42&type=chunk) [Revenue](index=17&type=section&id=Revenue) The Group's total revenue increased by 10.3% to RMB 184.5 million during the period, primarily driven by higher revenue from property management and property engineering services segments, with property management and value-added services showing slight growth, property engineering services significantly increasing by 448.1%, and other revenue also rising, alongside a notable increase in revenue from related parties Revenue Breakdown (RMB thousand) | Service Category | H1 2025 | Share (%) | H1 2024 | Share (%) | | :--- | :--- | :--- | :--- | :--- | | Property Management and Value-Added Services | 150,392 | 81.5 | 148,201 | 88.6 | | Property Engineering Services | 14,766 | 8.0 | 2,668 | 1.6 | | Others | 19,355 | 10.5 | 16,332 | 9.8 | | **Total** | **184,513** | **100.0** | **167,201** | **100.0** | Revenue Sources (RMB thousand) | Source | H1 2025 | Share (%) | H1 2024 | Share (%) | | :--- | :--- | :--- | :--- | :--- | | Independent Third Parties | 160,230 | 86.8 | 159,439 | 95.4 | | Related Parties | 24,283 | 13.2 | 7,762 | 4.6 | | **Total** | **184,513** | **100.0** | **167,201** | **100.0** | - Total revenue increased by **10.3%** to **RMB 184.5 million**, primarily due to increased revenue from the property management and property engineering services segments[43](index=43&type=chunk) [Property Management and Value-Added Services](index=18&type=section&id=Property%20Management%20and%20Value-Added%20Services) Revenue from property management and value-added services increased by 1.5% to RMB 150.4 million, primarily due to the continuous expansion of managed properties and the growth of value-added services such as cooling and waste removal services - Revenue from property management and value-added services increased by **1.5%** from approximately **RMB 148.2 million** to approximately **RMB 150.4 million**[46](index=46&type=chunk) - The increase was mainly due to the continuous expansion of a diversified property portfolio of non-residential and residential properties, as well as the expansion of value-added services such as cooling services and waste removal services[46](index=46&type=chunk) [Property Engineering Services](index=18&type=section&id=Property%20Engineering%20Services) Revenue from property engineering services surged by 448.1% to RMB 14.8 million, primarily attributable to the expansion of installation services during the period - Revenue from property engineering services increased by **448.1%** from approximately **RMB 2.7 million** to approximately **RMB 14.8 million**[47](index=47&type=chunk) - The increase was mainly due to the expansion of installation services during the period[47](index=47&type=chunk) [Others](index=18&type=section&id=Others) Other revenue increased by 19.0% to RMB 19.4 million, primarily driven by higher revenue from charging pile services and club services - Other revenue increased by **19.0%** from approximately **RMB 16.3 million** to approximately **RMB 19.4 million**[48](index=48&type=chunk) - The increase was mainly due to more revenue generated from charging pile services and club services[48](index=48&type=chunk) [Cost of Services](index=18&type=section&id=Cost%20of%20Services) The Group's cost of services, primarily comprising subcontracting costs, staff costs, and materials and consumables, increased by 15.3% to RMB 135.1 million during the reporting period, consistent with the revenue growth, particularly in property engineering services - Cost of services increased by **15.3%** from approximately **RMB 117.2 million** to approximately **RMB 135.1 million**[49](index=49&type=chunk) - The increase was generally consistent with the revenue growth during the period, which was related to the increase in property engineering services[49](index=49&type=chunk) [Gross Profit and Gross Profit Margin](index=18&type=section&id=Gross%20Profit%20and%20Gross%20Profit%20Margin) Gross profit for the period slightly decreased by 1.2% to RMB 49.4 million, with the gross profit margin declining from 29.9% to 26.8%, primarily due to increased subcontracting labor costs, equipment expenses, and elevator maintenance costs - Gross profit slightly decreased by **1.2%** from approximately **RMB 50.0 million** to approximately **RMB 49.4 million**[50](index=50&type=chunk) - The gross profit margin decreased from **29.9%** to **26.8%**[50](index=50&type=chunk) - The decrease in gross profit margin was mainly due to the increase in subcontracting labor costs, equipment, and elevator maintenance costs during the period[50](index=50&type=chunk) [Other Income, Other Gains and Losses, Net](index=19&type=section&id=Other%20Income%2C%20Other%20Gains%20and%20Losses%2C%20Net) Other income, other gains and losses, net, shifted from a loss in the prior period to a gain of approximately RMB 0.1 million this period, primarily due to a reduction in exchange difference losses - Other income, other gains and losses, net, shifted from an other loss of approximately **RMB 0.4 million** to other income and gains of approximately **RMB 0.1 million**[51](index=51&type=chunk) - This was mainly due to a decrease in exchange difference losses recognized during the period[51](index=51&type=chunk) [Selling and Marketing Expenses](index=19&type=section&id=Selling%20and%20Marketing%20Expenses) Selling and marketing expenses increased by 42.9% to RMB 1.0 million, primarily associated with business expansion during the period - Selling and marketing expenses increased by **42.9%** from approximately **RMB 0.7 million** to approximately **RMB 1.0 million**[52](index=52&type=chunk) - The increase was mainly related to business expansion during the period[52](index=52&type=chunk) [Administrative Expenses](index=19&type=section&id=Administrative%20Expenses) Administrative expenses significantly increased by 52.2% to RMB 23.9 million, primarily due to higher staff costs - Administrative expenses increased by **52.2%** from approximately **RMB 15.7 million** to approximately **RMB 23.9 million**[53](index=53&type=chunk) - The increase was mainly due to higher staff costs during the period[53](index=53&type=chunk) [Finance Costs](index=19&type=section&id=Finance%20Costs) The Group's finance costs primarily refer to the imputed interest arising from right-of-use assets related to lease contract payments for leased properties - Finance costs refer to the imputed interest arising from right-of-use assets related to lease contract payments for leased properties[54](index=54&type=chunk) [Income Tax Expense](index=19&type=section&id=Income%20Tax%20Expense) Income tax expense decreased by 30.5% to RMB 6.6 million - Income tax expense decreased by **30.5%** from approximately **RMB 9.5 million** to approximately **RMB 6.6 million**[55](index=55&type=chunk) [Profit for the Period](index=19&type=section&id=Profit%20for%20the%20Period) Profit attributable to equity holders of the Company decreased by 22.0% to RMB 18.8 million, primarily due to the combined impact of the aforementioned factors - Profit attributable to equity holders of the Company decreased by **22.0%** from approximately **RMB 24.1 million** to approximately **RMB 18.8 million**[56](index=56&type=chunk) [Interim Dividends](index=19&type=section&id=Interim%20Dividends) The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the prior corresponding period - The Board of Directors does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: nil)[57](index=57&type=chunk) [Financial Position](index=20&type=section&id=Financial%20Position) The Group maintains a sound financial position, with a slight increase in total current assets but a decrease in cash and cash equivalents, while property, plant and equipment and properties under development both grew, and total trade receivables declined due to proactive collection efforts, with trade payables, other payables, and contract liabilities also decreasing, and no interest-bearing borrowings, maintaining a stable current ratio [Property, Plant and Equipment](index=20&type=section&id=Property%2C%20Plant%20and%20Equipment) The net book value of property, plant and equipment increased by 7.8% to RMB 221.5 million, primarily due to increased construction in progress and the installation of charging piles - The net book value of property, plant and equipment was approximately **RMB 221.5 million**, representing a **7.8% increase** compared to December 31, 2024[58](index=58&type=chunk) - The increase was mainly due to increased construction in progress and the installation of charging piles during the period[58](index=58&type=chunk) [Properties Under Development](index=20&type=section&id=Properties%20Under%20Development) Properties under development increased by 11.5% to RMB 157.2 million, primarily due to ongoing construction work on properties under development - Properties under development were approximately **RMB 157.2 million**, representing an **11.5% increase** compared to December 31, 2024[59](index=59&type=chunk) - The increase was mainly due to ongoing construction work on properties under development during the period[59](index=59&type=chunk) [Trade Receivables](index=20&type=section&id=Trade%20Receivables) Both total trade receivables and net trade receivables after impairment allowance decreased, primarily due to increased repayments and the Group's proactive collection efforts, with related party trade receivables significantly decreasing by 47.7% while independent third-party trade receivables increased by 34.4%, and the Group has implemented various measures to manage credit risk - Total trade receivables and net trade receivables after impairment allowance were approximately **RMB 55.3 million** and **RMB 52.3 million**, respectively, representing a decrease compared to December 31, 2024[60](index=60&type=chunk) - The decrease was mainly due to increased repayments of trade receivables, resulting from the Group's efforts to recover trade receivables and implement management measures during the period[60](index=60&type=chunk) - Total trade receivables from related parties decreased by **47.7%** to approximately **RMB 15.8 million**[61](index=61&type=chunk) - Total trade receivables from independent third parties increased by **34.4%** to approximately **RMB 39.5 million**[62](index=62&type=chunk) - The Group has taken proactive measures to recover trade receivables, including regular review of debtors' credit risk, continuous communication to understand their operating conditions, and requesting partial repayments from time to time[63](index=63&type=chunk) [Trade Payables](index=21&type=section&id=Trade%20Payables) Trade payables decreased by 4.5% to RMB 23.2 million, primarily due to timely settlements during the period - Trade payables were approximately **RMB 23.2 million**, representing a **4.5% decrease** compared to December 31, 2024[64](index=64&type=chunk) - The decrease was due to timely settlement of trade payables during the period[64](index=64&type=chunk) [Other Payables and Accrued Expenses](index=21&type=section&id=Other%20Payables%20and%20Accrued%20Expenses) Other payables and accrued expenses slightly decreased by 0.8% to RMB 88.3 million, primarily due to more settlements made during the period - Other payables and accrued expenses were approximately **RMB 88.3 million**, representing a slight decrease of **0.8%** compared to December 31, 2024[65](index=65&type=chunk) - The decrease was mainly due to more settlements made during the period[65](index=65&type=chunk) [Contract Liabilities](index=21&type=section&id=Contract%20Liabilities) Contract liabilities decreased by 0.8% to RMB 95.8 million, primarily due to a reduction in customer prepayments for property management services - Contract liabilities decreased by **0.8%** from approximately **RMB 96.6 million** to approximately **RMB 95.8 million**[66](index=66&type=chunk) - The decrease was mainly due to a reduction in customer prepayments for property management services during the period[66](index=66&type=chunk) [Indebtedness](index=21&type=section&id=Indebtedness) The Group had no outstanding borrowings or unutilized bank facilities at the end of the reporting period, and lease liabilities decreased - The Group had no outstanding borrowings or unutilized bank facilities as of June 30, 2025[67](index=67&type=chunk) - Lease liabilities decreased from approximately **RMB 1.9 million** to approximately **RMB 1.8 million**[67](index=67&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=22&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) The Group maintains a sound financial position with a slight increase in current assets but a decrease in cash and cash equivalents, no interest-bearing borrowings, thus no gearing ratio calculated, and a capital structure primarily composed of equity and reserves - Current assets were approximately **RMB 506.8 million**, representing a slight increase of approximately **RMB 0.1 million** compared to December 31, 2024[68](index=68&type=chunk) - Cash and cash equivalents were approximately **RMB 216.2 million**, representing a **3.4% decrease** compared to December 31, 2024[68](index=68&type=chunk) - The Group had no interest-bearing borrowings, thus no gearing ratio was calculated[68](index=68&type=chunk) - The Group's capital structure primarily consists of equity, including issued share capital and reserves[69](index=69&type=chunk) [Current Ratio](index=22&type=section&id=Current%20Ratio) The Group's current ratio as of June 30, 2025, was approximately 2.4 times, remaining stable compared to December 31, 2024 - The Group's current ratio as of June 30, 2025, was approximately **2.4 times**, compared to approximately **2.4 times** as of December 31, 2024[70](index=70&type=chunk) [Pledge of Assets and Charges on Assets of the Group](index=22&type=section&id=Pledge%20of%20Assets%20and%20Charges%20on%20Assets%20of%20the%20Group) As of June 30, 2025, the Group had not pledged any assets, and its assets were free from any charges - As of June 30, 2025, the Group had not pledged any assets, and its assets were free from any charges[71](index=71&type=chunk) [Contingent Liabilities](index=22&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[72](index=72&type=chunk) [Capital Commitments](index=22&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group had capital expenditure commitments of RMB 249.0 million related to construction in progress - As of June 30, 2025, the Group had capital expenditure commitments of **RMB 249.0 million** related to construction in progress[73](index=73&type=chunk) [Foreign Exchange Risk](index=22&type=section&id=Foreign%20Exchange%20Risk) Operating primarily in China with most transactions settled in RMB, the Group faces minimal significant foreign exchange risk, limited to certain HKD-denominated bank balances, and currently has no contracts to hedge this risk - The Group primarily operates in China, with most transactions settled in RMB, thus it does not face significant foreign exchange risk, except for certain bank balances denominated in HKD held by the Company[74](index=74&type=chunk) - Currently, the Group has not entered into any contracts to hedge its foreign exchange risk[74](index=74&type=chunk) [Employment and Remuneration Policies](index=23&type=section&id=Employment%20and%20Remuneration%20Policies) As of June 30, 2025, the Group employed 922 staff, with remuneration policies determined by employee qualifications, position, seniority, and performance, participating in relevant Chinese employee social security schemes, and total staff-related costs for the period amounted to approximately RMB 47.5 million - As of June 30, 2025, the Group had **922 employees**[75](index=75&type=chunk) - Remuneration is determined based on employee qualifications, position, seniority, and performance, and employees participate in various social security schemes[75](index=75&type=chunk) - Total staff-related costs (including Directors' emoluments) for the period amounted to approximately **RMB 47.5 million**[75](index=75&type=chunk) [Significant Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures](index=23&type=section&id=Significant%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%20and%20Joint%20Ventures) During the period, the Group had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures - During the period, the Group had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures[76](index=76&type=chunk) [Material Investments](index=23&type=section&id=Material%20Investments) As of June 30, 2025, the Group had no material investments exceeding 5% of its total assets - As of June 30, 2025, the Group had no material investments exceeding **5%** of its total assets[77](index=77&type=chunk) [Future Plans for Material Investments or Capital Assets](index=23&type=section&id=Future%20Plans%20for%20Material%20Investments%20or%20Capital%20Assets) As of June 30, 2025, the Group had no specific future plans for material investments or capital assets, and any such plans would be announced in due course in compliance with the Listing Rules - As of June 30, 2025, there were no specific plans for material investments or capital assets[78](index=78&type=chunk) - Should the Group engage in any plans for material investments or capital assets, the Company will make an announcement in due course and comply with the relevant rules under the Listing Rules[78](index=78&type=chunk) [Future Outlook](index=23&type=section&id=Future%20Outlook) The Group will continue to implement its core strategies, including actively expanding its property management portfolio with a focus on non-residential properties, prudently selecting high-quality M&A targets, comprehensively deepening professional service coverage, increasing investment in intelligent and digital construction utilizing large AI models, and expanding community value-added service categories around lifestyle and asset services, guided by "refined operations, long-term development, service excellence, and effective management" to drive service transformation and strive to become an "all-scenario service expert," continuously enhancing comprehensive strength and market competitiveness - Core strategies include: actively expanding the property management project portfolio (focusing on non-residential properties), prudently selecting high-quality M&A targets, comprehensively deepening the scope of professional services, increasing investment in intelligent and digital construction (utilizing large AI models), and expanding community value-added service categories around lifestyle and asset services[79](index=79&type=chunk)[80](index=80&type=chunk) - The Group will be guided by "refined operations, long-term development, service excellence, and effective management" to drive enterprise transformation towards customer satisfaction-centric services[80](index=80&type=chunk) - The service system will upgrade from traditional property management (PM) and facility management (FM) to integrated facility management (IFM), aligning with the trend of professional and integrated development in non-residential property services[80](index=80&type=chunk) - In the future, the Group will position itself as an "all-scenario service expert," improving its service system and capabilities across residential, non-residential, and public space service sectors[82](index=82&type=chunk) [Capital Raising Activities and Use of Proceeds from Global Offering](index=25&type=section&id=Capital%20Raising%20Activities%20and%20Use%20of%20Proceeds%20from%20Global%20Offering) The Company's global offering generated net proceeds of approximately RMB 149.6 million, with approximately RMB 89.6 million utilized as of June 30, 2025, primarily for enhancing property engineering services, property management services, and general working capital, while RMB 60.0 million allocated for selective acquisitions to expand business remains unutilized and is expected to be used by December 31, 2025 - The net proceeds from the global offering were approximately **RMB 149.6 million**[84](index=84&type=chunk) Use of Proceeds from Global Offering (RMB million) | Intended Use | Planned as % of Net Proceeds | Planned Net Proceeds | Utilized as of Dec 31, 2024 | Utilized During Current Period | Unutilized as of June 30, 2025 | | :--- | :--- | :--- | :--- | :--- | :--- | | Selective acquisitions of suitable targets to expand business | 40.1% | 60.0 | – | – | 60.0 | | Enhancing our property engineering services | 20.2% | 30.2 | 30.2 | – | – | | Enhancing our property management services | 29.7% | 44.5 | 44.5 | – | – | | General working capital | 10.0% | 14.9 | 14.9 | – | – | | **Total** | **100.0%** | **149.6** | **89.6** | **–** | **60.0** | - The **RMB 60.0 million** allocated for selective acquisitions is expected to be utilized on or before December 31, 2025[84](index=84&type=chunk) [Changes from 31 December 2024](index=26&type=section&id=Changes%20from%2031%20December%202024) Except as disclosed in this announcement, there have been no other material changes to the Group's financial position or the information disclosed in the Management Discussion and Analysis section of the Company's 2024 annual report - Except as disclosed in this announcement, there have been no other material changes to the Group's financial position or the information disclosed in the Management Discussion and Analysis section of the Company's 2024 annual report[85](index=85&type=chunk) [Events After the Reporting Period](index=26&type=section&id=Events%20After%20the%20Reporting%20Period) No significant events have occurred after the reporting period and up to the date of this announcement - Except as disclosed in this announcement, no significant events have occurred after the reporting period and up to the date of this announcement[86](index=86&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=26&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the period - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the period[87](index=87&type=chunk) [Corporate Governance Code](index=26&type=section&id=Corporate%20Governance%20Code) The Company has adopted and complied with the Corporate Governance Code during the period, with the exception of the combined roles of Chairman and Chief Executive Officer (Mr. Qiu Ming), an arrangement the Board believes is in the Company's best interest, with the current Board composition ensuring a balance of power and authority - The Company has adopted corporate governance practices based on the principles and code provisions set out in Appendix C1 of the Listing Rules[88](index=88&type=chunk) - The Company has complied with the relevant code provisions of the Corporate Governance Code during the period, except for a deviation from code provision C.2.1 (the roles of chairman and chief executive officer should be separate)[88](index=88&type=chunk) - The Board believes that Mr. Qiu Ming's continued dual role as Chairman and Chief Executive Officer is in the best interest of the Company, and the current composition and structure of the Board are sufficient to ensure a balance of power and authority[88](index=88&type=chunk) [Standard Code for Securities Transactions by Directors and Relevant Employees](index=27&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors%20and%20Relevant%20Employees) The Company has adopted the Standard Code as set out in Appendix C3 of the Listing Rules and a stringent code of conduct for securities transactions by relevant employees deemed to possess inside information, with all directors and relevant employees confirming compliance with the standards - The Company has adopted the Standard Code as set out in Appendix C3 of the Listing Rules, and specific inquiries have been made to all Directors, each of whom has confirmed compliance with the required standards set out in the Standard Code during the period[90](index=90&type=chunk) - The Company has adopted a code of conduct for securities transactions by relevant employees of the Group who are considered to possess unpublished inside information of the Company or its securities, with terms no less stringent than those of the Standard Code[90](index=90&type=chunk) [Audit Committee](index=27&type=section&id=Audit%20Committee) Composed of three independent non-executive directors, the Audit Committee primarily assists the Board in reviewing and monitoring the Group's financial reporting processes, risk management, and internal control systems, and has reviewed the unaudited interim condensed consolidated financial results for the period - The Audit Committee comprises three independent non-executive Directors: Mr. Feng Zhidong (Chairman), Mr. Zhou Sheng, and Mr. Xu Chun[91](index=91&type=chunk) - The Audit Committee is primarily responsible for assisting the Board in reviewing and monitoring the Group's financial reporting processes, risk management, and internal control systems, and overseeing the audit process[91](index=91&type=chunk) - The Audit Committee has reviewed the accounting principles and practices adopted by the Group with the Company's management and discussed audit and financial reporting matters, including the review of the Group's unaudited interim condensed consolidated financial results for the period[91](index=91&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=27&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) This interim results announcement has been published on the HKEXnews website and the Company's website, and the interim report will be published and dispatched to shareholders in due course - This interim results announcement is published on the HKEXnews website (www.hkexnews.hk) and the Company's website (www.xingyewulian.com)[92](index=92&type=chunk) - The Company's interim report for the period, containing all information required by Appendix D2 of the Listing Rules, will be published on the aforementioned websites and dispatched to the Company's shareholders upon request in due course[92](index=92&type=chunk) [Acknowledgement](index=28&type=section&id=Acknowledgement) The Board of Directors extends its sincere gratitude to the management, all employees, and shareholders for their dedicated efforts and strong support to the Group - The Company expresses its sincere gratitude to the management and all employees for their tireless and dedicated efforts to the Group, and to the shareholders for their continuous strong support to the Group[93](index=93&type=chunk) - The Board of Directors comprises Mr. Qiu Ming (Executive Director); Ms. Zhang Huiqi, Mr. Wang Jinhu, and Mr. Liu Zhenqiang (Non-executive Directors); and Mr. Xu Chun, Mr. Feng Zhidong, and Mr. Zhou Sheng (Independent Non-executive Directors)[94](index=94&type=chunk)

格隆汇8月18日丨兴业物联(09916.HK)宣布，将于2025年8月28日（星期四）举行董事会会议，藉以（其 中包括）批准本公司及其附属公司截至2025年6月30日止六个月的中期业绩及其发布，并厘定中期股息 （如有）。 ...

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。 Xingye Wulian Service Group Co. Ltd. 興業物聯服務集團有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：9916） 董事會會議日期 興業物聯服務集團有限公司（「本公司」）董 事（「全體董事」及 各「董 事」）會（「董 事 會」）謹 此 宣 佈，將 於 二 零 二 五 年 八 月 二 十 八 日（星 期 四）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的 中 期 業 績 及 其 發 佈，並 釐 定 中 期 股 息（如 有）。 主席兼行政總裁 裘 明 香 港，二 零 二 五 年 八 月 十 八 日 於 本 公 告 日 期，執 行 董 事 為 裘 明 先 生；非 執 行 董 事 為 張 惠 琪 女 士、王 金 虎 先 ...

致：香港交易及結算所有限公司 公司名稱: 興業物聯服務集團有限公司 呈交日期: 2025年8月1日 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 | 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) | 09916 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 100,000,000 FF301 ...