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佈之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不對因本公佈全部或任何部份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。 (股份代號：120) 二零二五年中期業績公佈 | 財務及業務摘要 | | | | | --- | --- | --- | --- | | | 截至二零二五年 | 截至二零二四年 | | | 六月三十日止六個月 | | 六月三十日止六個月 | %轉變 | | | (未經審核) | (未經審核) | | | | 港幣百萬元 | 港幣百萬元 | | | 收入 | 16.0 | 314.3 | -94.9% | | 毛利 | 2.3 | 1.4 | +64.3% | | 減除折舊、融資成本及 | | | | | 稅項前之經營業務虧損 | (20.9) | (35.4) | -41.0% | | 母公司股份持有人 | | | | | 應佔虧損 | (56.5) | (169.0) | -66.6% | | 母公司股份持有人應佔 | | | | | 每股股份(包括普通股及 | | | | | 可換股優先股)基本虧損 ...

截 至2025年6月30日止六個月中期業績公告 | 財務摘要 | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | | | 截 | | 至6月30日止六個月 | | | | | | | | | | | | | | | | 2025年 | | | 2024年 | | | | | | | | | | | | | （未 | 經 審 | 核） | （未 經 | 審 | 核） | | 收 益 | （人 | 民 | 幣 | 千 | 元） | | | | | | 23,940 | | | 55,949 | | | 毛 利 | （人 | 民 | 幣 | 千 | 元） | | | | | | 2,404 | | | 6,298 | | | 毛利率 | | (%) | | | | | | | | | 10.0 | | | 11.3 | | | 期內虧損淨額 | | | | | （人 | 民 ...

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。 Transcenta Holding Limited 創勝集團醫藥有限公司 （以存續方式於開曼群島註冊的有限公司） （股份代號：6628） (1) 截至2025年6月30日止六個月的中期業績公告；及 (2) 變更所得款項用途 創勝集團醫藥有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司 及其附屬公司（統稱「本集團」）截至2025年6月30日止六個月（「報告期間」）的未經 審核綜合業績，及與2024年同期經營業績的比較。該等業績乃基於報告期間的未 經審核綜合中期財務報表，而有關報表乃根據國際財務報告準則會計準則（「國際 財務報告準則」）而編製並已由本公司審計委員會（「審計委員會」）及本公司核數師 德勤•關黃陳方會計師行審閱。 於本公告內，「我們」及「我們的」指本公司（定義見上文）及倘文義另有所指，則 指本集團（定義見上文）。本公告所載若干金額及百分比數字已經約整，或約整至 小數點後一位 ...

[Corporate Information](index=4&type=section&id=Corporate%20Information) This chapter outlines the company's board composition, committee structures, and key registration details [Directors and Committees](index=4&type=section&id=Directors%20and%20Committees) This section lists the board members and key committee compositions of Shenghui Cleanness Group Holdings Limited - The company's Board of Directors consists of three executive directors (Mr Li Chenghua, Mr Wei Dongjin, Mr Chen Liming) and three independent non-executive directors (Ms Zhang Baowen, Ms Qiu Yanhong, Dr Wang Hui)[3](index=3&type=chunk)[7](index=7&type=chunk)[8](index=8&type=chunk) - The company has established an Audit Committee (chaired by Dr Wang Hui), a Remuneration Committee (chaired by Ms Zhang Baowen), a Nomination Committee (chaired by Ms Qiu Yanhong), and an Investment Committee (chaired by Dr Wang Hui) to enhance corporate governance[7](index=7&type=chunk)[8](index=8&type=chunk)[9](index=9&type=chunk) [Company Contact and Registration Details](index=5&type=section&id=Company%20Contact%20and%20Registration%20Details) This section provides the company's registered office, business locations, and other essential contact information - The company is registered in the Cayman Islands, with its headquarters and principal place of business in the PRC located in Panyu District, Guangzhou, and its principal place of business in Hong Kong located in Wan Chai[9](index=9&type=chunk)[10](index=10&type=chunk) Company Basic Information | Information Type | Details | | :--- | :--- | | Company Name | Shenghui Cleanness Group Holdings Limited | | Stock Code | 2521 | | Place of Registration | Cayman Islands | | Headquarters & Principal Place of Business in the PRC | 3/F, Office Building, 36 Xinguang Road, Xinzhen Town, Panyu District, Guangzhou | | Principal Place of Business in Hong Kong | 15/F, MassMutual Tower, 38 Gloucester Road, Wan Chai, Hong Kong | | Principal Bankers | Industrial and Commercial Bank of China Limited (Guangzhou Huanan Branch) | | Company Website | www.gzshqj.com | [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) This chapter details business performance, financial status, and future outlook for the six months ended June 30, 2025 [Business Review](index=7&type=section&id=Business%20Review) For the six months ended June 30, 2025, the Group's revenue grew, and gross profit margin improved significantly - The Group is principally engaged in the provision of cleaning and maintenance services in Guangdong Province, China[13](index=13&type=chunk)[16](index=16&type=chunk) Business Performance for H1 2025 | Metric | Six months ended June 30, 2025 (RMB Million) | Six months ended June 30, 2024 (RMB Million) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Total Revenue | 358.8 | N/A | N/A | | Net Profit | 7.9 | N/A | N/A | | Gross Profit | 60.2 | 32.0 | +88.1% | | Gross Profit Margin | 16.8% | 9.8% | +7.0 p.p. | [Outlook](index=7&type=section&id=Outlook) The Group plans to expand its business in existing and new markets through organic growth and potential acquisitions - The Group plans to replicate its business model in other regions of China with high demand for property cleaning services[15](index=15&type=chunk)[17](index=17&type=chunk) - The Group will explore expanding its customer base and geographical coverage through acquisitions and/or investments in cleaning and maintenance service providers in the Greater Bay Area, and bid for large-scale infrastructure cleaning service projects[15](index=15&type=chunk)[17](index=17&type=chunk) [Financial Review](index=8&type=section&id=Financial%20Review) Revenue grew due to more projects, but net profit declined due to fair value losses on financial assets Key Financial Indicators for H1 2025 | Metric | Six months ended June 30, 2025 (RMB Million) | Six months ended June 30, 2024 (RMB Million) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 358.8 | 325.8 | +10.1% | | Cost of services | 298.6 | 293.7 | +1.7% | | Gross profit | 60.2 | 32.0 | +88.1% | | Gross profit margin | 16.78% | 9.8% | +6.98 p.p. | | Other income, net | 2.6 | 1.2 | +116.7% | | Selling and marketing expenses | 4.3 | 3.5 | +22.9% | | General and administrative expenses | 21.6 | 18.3 | +18.0% | | Finance expenses, net | 0.01 | (0.183) | From expense to income | | Income tax expenses | 4.0 | 1.1 | +263.6% | | Net profit | 7.9 | 10.2 | -22.6% | | Net profit margin | 2.2% | 3.1% | -0.9 p.p. | - The decrease in net profit was primarily due to the recognition of a fair value loss on financial assets at fair value through profit or loss, partially offset by an increase in revenue[35](index=35&type=chunk)[37](index=37&type=chunk) [Revenue](index=8&type=section&id=Revenue) Total revenue for the six months ended June 30, 2025, was RMB 358.8 million, a year-on-year increase of 10.1% - Revenue was primarily derived from property cleaning services (95.8%) and public space cleaning services (4.2%)[18](index=18&type=chunk)[22](index=22&type=chunk) - The **10.1% year-on-year increase in revenue** was mainly driven by an increase in the number of property cleaning service projects[19](index=19&type=chunk)[22](index=22&type=chunk) [Cost of services](index=8&type=section&id=Cost%20of%20services) Cost of services for the six months ended June 30, 2025, increased by 1.7% year-on-year to RMB 298.6 million - The cost of services increased by **1.7% year-on-year to RMB 298.6 million**[20](index=20&type=chunk)[23](index=23&type=chunk) - The increase was mainly due to higher employee benefit expenses and subcontracting labor costs to meet the manpower demand from an increased number of projects[20](index=20&type=chunk)[23](index=23&type=chunk) [Gross profit and gross profit margin](index=8&type=section&id=Gross%20profit%20and%20gross%20profit%20margin) Gross profit for the six months ended June 30, 2025, grew significantly by 88.1% to RMB 60.2 million - **Gross profit increased by 88.1%** year-on-year to RMB 60.2 million[21](index=21&type=chunk)[24](index=24&type=chunk) - **Gross profit margin improved from 9.8% to 16.78%**, primarily due to the increase in revenue[21](index=21&type=chunk)[24](index=24&type=chunk) [Other income, net](index=9&type=section&id=Other%20income%2C%20net) Net other income for the six months ended June 30, 2025, increased by 116.7% year-on-year to RMB 2.6 million - **Net other income increased by 116.7%** year-on-year to RMB 2.6 million[25](index=25&type=chunk)[30](index=30&type=chunk) - The growth was mainly driven by an increase in rental income[25](index=25&type=chunk)[30](index=30&type=chunk) [Selling and marketing expenses](index=9&type=section&id=Selling%20and%20marketing%20expenses) Selling and marketing expenses for the six months ended June 30, 2025, rose by 22.9% year-on-year to RMB 4.3 million - **Selling and marketing expenses increased by 22.9%** year-on-year to RMB 4.3 million[26](index=26&type=chunk)[31](index=31&type=chunk) - The increase was in line with higher marketing and entertainment expenses and bidding expenses related to business expansion[26](index=26&type=chunk)[31](index=31&type=chunk) [General and administrative expenses](index=9&type=section&id=General%20and%20administrative%20expenses) General and administrative expenses for the six months ended June 30, 2025, grew by 18.0% year-on-year to RMB 21.6 million - **General and administrative expenses increased by 18.0%** year-on-year to RMB 21.6 million[27](index=27&type=chunk)[32](index=32&type=chunk) - The growth was primarily due to increased staff costs and office expenses[27](index=27&type=chunk)[32](index=32&type=chunk) [Finance expenses, net](index=9&type=section&id=Finance%20expenses%2C%20net) Net finance expenses for the six months ended June 30, 2025, shifted from an expense to net income - Net finance expenses shifted from a net expense of RMB 183,000 in the prior-year period to **net income of RMB 10,000**[28](index=28&type=chunk)[33](index=33&type=chunk) - The change was mainly due to an increase in interest income[28](index=28&type=chunk)[33](index=33&type=chunk) [Income tax expenses](index=9&type=section&id=Income%20tax%20expenses) Income tax expenses for the six months ended June 30, 2025, increased by 263.6% year-on-year to RMB 4.0 million - **Income tax expenses increased by 263.6%** year-on-year to RMB 4.0 million[29](index=29&type=chunk)[34](index=34&type=chunk) - The increase was mainly due to higher assessable profits[29](index=29&type=chunk)[34](index=34&type=chunk) [Net profit and net profit margin](index=10&type=section&id=Net%20profit%20and%20net%20profit%20margin) Net profit for the six months ended June 30, 2025, decreased by 22.6% year-on-year to RMB 7.9 million - **Net profit decreased by 22.6%** year-on-year to RMB 7.9 million[35](index=35&type=chunk)[37](index=37&type=chunk) - **Net profit margin decreased from 3.1% to 2.2%**[35](index=35&type=chunk)[37](index=37&type=chunk) - The decrease in net profit was primarily due to the recognition of a fair value loss on financial assets at fair value through profit or loss, partially offset by an increase in revenue[35](index=35&type=chunk)[37](index=37&type=chunk) [Capital structure](index=10&type=section&id=Capital%20structure) The Group successfully raised approximately HKD 47.60 million in net proceeds from a placement of new shares - The Group successfully placed **193,755,000 new shares** at a price of HKD 0.250 per share on June 16, 2025[36](index=36&type=chunk)[38](index=38&type=chunk) - The **net proceeds from the placement were approximately HKD 47.60 million**[36](index=36&type=chunk)[38](index=38&type=chunk) - The proceeds are intended for developing the waste recycling business (50%), investing in or acquiring cleaning and maintenance service providers (10%), and for general working capital (40%)[36](index=36&type=chunk)[38](index=38&type=chunk) - As of the reporting date, 50% of the proceeds remained unutilized and are expected to be fully used by May 19, 2027[36](index=36&type=chunk)[38](index=38&type=chunk) [Liquidity and financial resources](index=11&type=section&id=Liquidity%20and%20financial%20resources) As of June 30, 2025, the Group maintained a healthy liquidity position with improved gearing and net debt-to-equity ratios Overview of Liquidity and Financial Resources | Metric | As of June 30, 2025 (RMB Million) | As of December 31, 2024 (RMB Million) | | :--- | :--- | :--- | | Net assets | 436.6 | 384.9 | | Cash, bank balances and restricted bank deposits | 106.4 | 92.5 | | Total borrowings (lease liabilities and bank borrowings) | 50.0 | 52.0 | | Current ratio (times) | 2.6 | 2.3 | | Gearing ratio (%) | 11.5 | 15.5 | | Net debt-to-equity ratio (%) | Net cash | Net cash | [Capital expenditure and commitments](index=12&type=section&id=Capital%20expenditure%20and%20commitments) Capital expenditure for the six months ended June 30, 2025, was approximately RMB 1.0 million - For the six months ended June 30, 2025, capital expenditure was approximately **RMB 1.0 million** (H1 2024: RMB 4.6 million), mainly for the purchase of property, plant and equipment[43](index=43&type=chunk)[47](index=47&type=chunk) - As of June 30, 2025, there were no capital commitments (December 31, 2024: Nil)[43](index=43&type=chunk)[47](index=47&type=chunk) [Pledge of assets](index=12&type=section&id=Pledge%20of%20assets) As of June 30, 2025, the Group had not pledged any assets as security for financing - As of June 30, 2025, the Group had not pledged any assets (December 31, 2024: Nil) as security for any financing granted to the Group[44](index=44&type=chunk)[48](index=48&type=chunk) [Contingent liabilities](index=12&type=section&id=Contingent%20liabilities) As of June 30, 2025, and December 31, 2024, the Group had no significant contingent liabilities - As of June 30, 2025, and December 31, 2024, the Group did not have any significant contingent liabilities[45](index=45&type=chunk)[49](index=49&type=chunk) [Treasury policies](index=12&type=section&id=Treasury%20policies) The Group adopts a prudent treasury policy to manage its liquidity and funding requirements effectively - The Group adopts a prudent treasury policy[46](index=46&type=chunk)[50](index=50&type=chunk) - Management closely monitors the liquidity position to ensure that the liquidity structure of the Group’s assets, liabilities and commitments can meet its funding requirements[46](index=46&type=chunk)[50](index=50&type=chunk) [Foreign exchange exposure](index=13&type=section&id=Foreign%20exchange%20exposure) The Group's foreign exchange risk is insignificant as most financial assets and liabilities are denominated in RMB - The vast majority of the Group's financial assets and liabilities are denominated in RMB, resulting in insignificant foreign exchange risk[51](index=51&type=chunk)[55](index=55&type=chunk) - The Group currently does not engage in any foreign currency hedging or use any financial instruments for hedging purposes, but management will monitor exposure and consider hedging if it becomes significant[51](index=51&type=chunk)[55](index=55&type=chunk) - The conversion of RMB into foreign currencies is subject to government-imposed foreign exchange control rules and regulations[52](index=52&type=chunk)[56](index=56&type=chunk) [Interest rate exposure](index=13&type=section&id=Interest%20rate%20exposure) The Group's interest rate risk arises mainly from floating-rate bank deposits and fixed-rate bank borrowings - The Group's interest rate risk primarily arises from cash flow interest rate risk related to floating-rate restricted bank deposits and bank balances, as well as fixed-rate bank borrowings[53](index=53&type=chunk)[57](index=57&type=chunk) - Management monitors interest rate risk and will consider hedging significant exposure when necessary[53](index=53&type=chunk)[57](index=57&type=chunk) [Use of proceeds from the global offering](index=13&type=section&id=Use%20of%20proceeds%20from%20the%20global%20offering) As of June 30, 2025, HKD 49.8 million of the net proceeds from the 2023 global offering remained unutilized - The net proceeds from the 2023 global offering (after deducting underwriting fees, commissions, and other listing expenses) were approximately **HKD 73.5 million**[54](index=54&type=chunk)[58](index=58&type=chunk) Use and Allocation of Proceeds from the Global Offering | Intended Use | Planned Allocation (HKD Million) | Amount Utilized as of June 30, 2025 (HKD Million) | Unutilized Amount as of June 30, 2025 (HKD Million) | Expected Full Utilization Timeline | | :--- | :--- | :--- | :--- | :--- | | Establishing new branch offices | 36.0 | – | 36.0 | December 2026 | | Acquiring or investing in cleaning and maintenance service providers | 15.7 | 15.7 | – | December 2026 | | Strengthening public space cleaning service capabilities | 14.3 | 5.8 | 8.5 | December 2026 | | Adopting technological reforms and upgrading IT systems | 5.6 | 1.3 | 4.3 | December 2026 | | Expanding the marketing department | 1.8 | 0.8 | 1.0 | December 2026 | | General working capital | 0.1 | 0.1 | – | | | **Total** | **73.5** | **23.7** | **49.8** | | [Significant investments held and material acquisitions and disposals](index=15&type=section&id=Significant%20investments%20held%20and%20material%20acquisitions%20and%20disposals) The Group completed acquisitions of two Hong Kong property management companies and increased its stake in BTI - On April 28, 2025, the company agreed to acquire 100% of the issued share capital of Fook Yu Property Management Limited and Fook Wai Property Management Limited for **HKD 15 million** (approximately RMB 13.7 million), which was completed on June 30, 2025[61](index=61&type=chunk)[65](index=65&type=chunk) - The target companies are principally engaged in providing property management services in Hong Kong[61](index=61&type=chunk)[65](index=65&type=chunk) - The Group further acquired 4,375,425 shares of Shenzhen BTI Excellence Technology Co, Ltd (BTI) for a consideration of approximately **RMB 15,752,000**[63](index=63&type=chunk)[67](index=67&type=chunk) - As of June 30, 2025, the Group held **25% of the total issued shares of BTI**, and the investment is classified as an interest in an associate[64](index=64&type=chunk)[67](index=67&type=chunk) - BTI is principally engaged in the business of recycling waste materials for packaging material production, and the design, manufacturing, and sale of environmentally friendly biodegradable materials[63](index=63&type=chunk)[67](index=67&type=chunk) [Acquisition of Target Companies](index=15&type=section&id=Acquisition%20of%20Target%20Companies) The Group acquired two Hong Kong property management service providers for HKD 15 million on June 30, 2025 - On April 28, 2025, the Company entered into a sale and purchase agreement to conditionally acquire 100% of the issued share capital of Fook Yu Property Management Limited and Fook Wai Property Management Limited (the "Target Companies") for a consideration of **HKD 15 million** (equivalent to approximately RMB 13.7 million)[61](index=61&type=chunk)[65](index=65&type=chunk) - The acquisition was completed on June 30, 2025, after which the Target Companies became indirect wholly-owned subsidiaries of the Company[61](index=61&type=chunk)[65](index=65&type=chunk) - The Target Companies are principally engaged in the provision of property management services in Hong Kong[61](index=61&type=chunk)[65](index=65&type=chunk) [Acquisition of BTI](index=15&type=section&id=Acquisition%20of%20BTI) The Group increased its shareholding in BTI to 25%, classifying it as an interest in an associate - During the six months ended June 30, 2025, the Group further acquired 4,375,425 shares of Shenzhen BTI Excellence Technology Co, Ltd ("BTI"), a company listed on the National Equities Exchange and Quotations (NEEQ), for a consideration of approximately **RMB 15,752,000**[63](index=63&type=chunk)[67](index=67&type=chunk) - BTI is principally engaged in the business of recycling waste materials for packaging material production, and the design, manufacturing, and sale of biodegradable and environmentally friendly materials[63](index=63&type=chunk)[67](index=67&type=chunk) - As of June 30, 2025, the Group held **25% of the total issued shares of BTI**, and this investment is classified as an interest in an associate[64](index=64&type=chunk)[67](index=67&type=chunk) [Future plans for material investments or capital assets](index=16&type=section&id=Future%20plans%20for%20material%20investments%20or%20capital%20assets) As of June 30, 2025, the Group had no specific plans for other material investments or capital assets - Save as disclosed in the Prospectus and this report, there were no specific plans for material investments or capital assets as of June 30, 2025[68](index=68&type=chunk)[71](index=71&type=chunk) [Human resources](index=16&type=section&id=Human%20resources) Total employee benefit expenses amounted to RMB 186.1 million for the six months ended June 30, 2025 Human Resources Overview | Metric | Six months ended June 30, 2025 (RMB Million) | Six months ended June 30, 2024 (RMB Million) | | :--- | :--- | :--- | | Total employee benefit expenses | 186.1 | 178.0 | | Total number of employees | 8,068 | 7,169 | - Remuneration for each employee is determined based on individual responsibilities, capabilities, skills, experience, performance, and market salary levels[69](index=69&type=chunk)[72](index=72&type=chunk) - All employees of the Group participate in China's employee social insurance schemes, and the Group regularly provides or arranges training programs, including environmental protection, quality, occupational safety and health, emergency and rescue, specialized cleaning skills, and management skills training[69](index=69&type=chunk)[72](index=72&type=chunk) - The Company has adopted a share option scheme to provide incentives and rewards to its employees[69](index=69&type=chunk)[72](index=72&type=chunk) [Events after reporting period](index=16&type=section&id=Events%20after%20reporting%20period) No other significant events that could affect the Group have occurred since the end of the reporting period - Save as disclosed in this report, no other significant events that could affect the Group have occurred since the end of the six months ended June 30, 2025[70](index=70&type=chunk)[73](index=73&type=chunk) [Unaudited Condensed Consolidated Statement of Comprehensive Income](index=17&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) This statement shows the Group's revenue growth and the impact of fair value losses on profit for the period Unaudited Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30, 2025) | Metric | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Revenue | 358,829 | 325,779 | | Cost of services | (298,629) | (293,741) | | Gross profit | 60,200 | 32,038 | | Selling and marketing expenses | (4,319) | (3,537) | | General and administrative expenses | (21,589) | (18,257) | | Fair value loss on financial assets at FVTPL | (25,394) | – | | Share of results of an associate | 443 | – | | Other income, net | 2,560 | 1,207 | | Finance expenses, net | 10 | (183) | | Profit before income tax | 11,911 | 11,268 | | Income tax expenses | (3,968) | (1,113) | | Profit and total comprehensive income for the period attributable to owners of the Company | 7,943 | 10,155 | | Basic and diluted earnings per share (RMB cents) | 0.45 | 0.62 | [Unaudited Condensed Consolidated Statement of Financial Position](index=18&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This statement shows growth in the Group's total assets and equity as of June 30, 2025 Unaudited Condensed Consolidated Statement of Financial Position (As of June 30, 2025) | Metric | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | **Assets** | | | | Non-current assets | 180,197 | 189,822 | | Property, plant and equipment | 34,661 | 36,200 | | Investment properties | 854 | 905 | | Interest in an associate | 91,961 | – | | Right-of-use assets | 17,756 | 17,908 | | Financial assets at FVTPL | – | 101,160 | | Deferred income tax assets | 7,442 | 6,653 | | Deposits and prepayments (non-current) | 27,523 | 26,996 | | Current assets | 455,771 | 380,501 | | Trade and other receivables and prepayments | 349,399 | 287,969 | | Restricted bank deposits | 1,423 | 1,423 | | Cash and cash equivalents | 104,949 | 91,109 | | **Total assets** | **635,968** | **570,323** | | **Equity** | | | | Equity attributable to owners of the Company | 436,386 | 384,902 | | Share capital | 17,721 | 15,953 | | Reserves | 418,665 | 368,949 | | **Total equity** | **436,386** | **384,902** | | **Liabilities** | | | | Non-current liabilities | 23,410 | 20,818 | | Deferred tax liabilities | 9,018 | 6,538 | | Lease liabilities (non-current) | 14,392 | 14,280 | | Current liabilities | 176,172 | 164,603 | | Trade and other payables | 122,549 | 102,869 | | Current income tax payables | 18,014 | 16,265 | | Bank borrowings | 30,120 | 39,174 | | Lease liabilities (current) | 5,489 | 5,755 | | **Total liabilities** | **199,582** | **185,421** | | **Total equity and liabilities** | **635,968** | **570,323** | [Unaudited Condensed Consolidated Statements of Changes in Equity](index=20&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity) This statement shows that total equity increased due to profit for the period and the placement of new shares Unaudited Condensed Consolidated Statements of Changes in Equity (For the six months ended June 30, 2025) | Metric | Share Capital (RMB'000) | Reserves (RMB'000) | Total (RMB'000) | | :--- | :--- | :--- | :--- | | At January 1, 2024 | 14,726 | 284,092 | 298,818 | | Profit for the period (2024) | – | 10,155 | 10,155 | | Balance at June 30, 2024 | 14,726 | 294,247 | 308,973 | | At January 1, 2025 | 15,953 | 368,949 | 384,902 | | Profit for the period (2025) | – | 7,943 | 7,943 | | Placement of new shares | 1,768 | 41,773 | 43,541 | | Balance at June 30, 2025 | 17,721 | 418,665 | 436,386 | [Unaudited Condensed Consolidated Statements of Cash Flows](index=21&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This statement shows a net increase in cash and cash equivalents, driven by financing activities Unaudited Condensed Consolidated Statements of Cash Flows (For the six months ended June 30, 2025) | Metric | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Net cash used in operating activities | (2,569) | (55,722) | | Net cash used in investing activities | (15,919) | (4,553) | | Net cash from financing activities | 32,328 | 10,938 | | Net increase/(decrease) in cash and cash equivalents | 13,840 | (49,337) | | Cash and cash equivalents at end of period | 104,949 | 99,236 | [Notes to the Condensed Consolidated Interim Financial Statements](index=22&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) This chapter provides detailed explanations of the company's accounting policies and key financial information [Corporate Information](index=22&type=section&id=Corporate%20Information_Note) This section reiterates the basic information of Shenghui Cleanness Group Holdings Limited - The Company was incorporated in the Cayman Islands on January 4, 2021, and was listed on the Main Board of The Stock Exchange of Hong Kong Limited on December 5, 2023[88](index=88&type=chunk)[90](index=90&type=chunk) - The Group is principally engaged in the provision of cleaning and maintenance services in the PRC[89](index=89&type=chunk)[90](index=90&type=chunk) - The controlling shareholders are Mr Li Chenghua and Mr Chen Liming[89](index=89&type=chunk)[90](index=90&type=chunk) [Principal Accounting Policies](index=23&type=section&id=Principal%20Accounting%20Policies) The financial statements are prepared in accordance with HKAS 34, with consistent accounting policies - The financial statements have been prepared in accordance with Hong Kong Accounting Standard (HKAS) 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants (HKICPA)[91](index=91&type=chunk)[94](index=94&type=chunk) - The accounting policies are consistent with those used in the 2024 annual financial statements, except for the adoption of new and revised HKFRSs that are effective for the annual period beginning on January 1, 2025[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk)[95](index=95&type=chunk) - The adoption of all new and revised HKFRSs is not expected to have a material impact on the Group's condensed consolidated interim financial statements[96](index=96&type=chunk)[98](index=98&type=chunk) [Revenue and Segment Information](index=25&type=section&id=Revenue%20and%20Segment%20Information) The Group operates as a single segment providing cleaning and maintenance services in China - The Group is principally engaged in providing cleaning and maintenance services in the PRC, and all revenue is derived from the PRC[100](index=100&type=chunk)[105](index=105&type=chunk)[111](index=111&type=chunk) - Management reviews the operating results of the business as one operating segment to make decisions about resource allocation[100](index=100&type=chunk)[101](index=101&type=chunk) - Revenue is recognised when control of the services is transferred to the customer, either over time or at a point in time[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) - No significant contract assets or liabilities were recognised, and there were no significant incremental costs during the period ended June 30, 2025[107](index=107&type=chunk)[108](index=108&type=chunk)[110](index=110&type=chunk)[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) [Accounting policies for revenue recognition](index=27&type=section&id=Accounting%20policies%20for%20revenue%20recognition) Revenue is recognized when control of services is transferred to the customer for the consideration expected - Revenue is recognised when control of the services is transferred to the customer for an amount that reflects the consideration to which the Group expects to be entitled[115](index=115&type=chunk)[117](index=117&type=chunk) - Control of services may be transferred over time or at a point in time, depending on whether the customer simultaneously receives and consumes all benefits, controls the asset, or if the asset has no alternative use and there is an enforceable right to payment[116](index=116&type=chunk)[117](index=117&type=chunk)[118](index=118&type=chunk) - A contract asset is the Group's right to consideration for services transferred to a customer; a contract liability arises when a customer pays consideration or the Group has an unconditional right to receive it[119](index=119&type=chunk)[120](index=120&type=chunk)[121](index=121&type=chunk)[122](index=122&type=chunk)[123](index=123&type=chunk) [Expenses by Nature](index=29&type=section&id=Expenses%20by%20Nature) This section details the breakdown of expenses by nature for the six months ended June 30, 2025 Expenses by Nature (For the six months ended June 30, 2025) | Expense Type | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Employee benefit expenses (including directors' remuneration) | | | | – Salaries, wages and bonuses | 178,281 | 169,899 | | – Social insurance and housing provident fund contributions | 7,264 | 7,559 | | – Other employee benefits | 551 | 499 | | Subcontracting labour costs | 97,265 | 99,733 | | Cost of cleaning materials consumed | 7,893 | 8,137 | | Depreciation | 1,906 | 1,757 | | Short-term lease expenses | 2,827 | 1,234 | [Other Income, Net](index=30&type=section&id=Other%20Income%2C%20Net_Note) Net other income for the six months ended June 30, 2025, was RMB 2,560,000, mainly from rental income Other Income, Net (For the six months ended June 30, 2025) | Income Type | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Rental income | 2,532 | 1,324 | | VAT refund | – | 751 | | Donation | – | (900) | | Others | 28 | 32 | | **Total** | **2,560** | **1,207** | - Rental income (including from investment properties and leased shops) is recognised on a straight-line basis over the term of the lease agreement[130](index=130&type=chunk) [Finance Income/(Expenses), Net](index=30&type=section&id=Finance%20Income%2F(Expenses)%2C%20Net) The Group recorded net finance income of RMB 10,000 for the six months ended June 30, 2025 Finance Income/(Expenses), Net (For the six months ended June 30, 2025) | Type | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Finance income - Interest income | 876 | 80 | | Finance expenses - Interest expense on bank borrowings | (607) | (59) | | Finance expenses - Interest expense on lease liabilities | (259) | (204) | | **Finance income/(expenses), net** | **10** | **(183)** | [Income Tax Expenses](index=31&type=section&id=Income%20Tax%20Expenses) Income tax expense for the six months ended June 30, 2025, was RMB 3,968,000, a significant increase Income Tax Expenses (For the six months ended June 30, 2025) | Type | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Current income tax | 2,278 | 1,083 | | Deferred income tax | 1,690 | 30 | | **Total** | **3,968** | **1,113** | - Provision for income tax on the Group's operations in China is calculated at the applicable rate of 25%, except for Guangzhou Shenghui, which qualified as a High and New Technology Enterprise since 2020 and enjoys a preferential income tax rate of 15%, valid until December 28, 2026[133](index=133&type=chunk)[134](index=134&type=chunk)[135](index=135&type=chunk) - Guangzhou Shenghui was eligible for super deduction on research and development expenses for the periods ended June 30, 2025 and 2024, with the additional tax deduction rate increased to 100% from the 2023 fiscal year[139](index=139&type=chunk)[142](index=142&type=chunk) - As of June 30, 2025, and December 31, 2024, the Group had not recognised deferred income tax assets for tax losses carried forward, as tax losses of group companies in China can only be carried forward for a maximum of five years[140](index=140&type=chunk)[142](index=142&type=chunk) [Dividend](index=32&type=section&id=Dividend) No dividend was paid or declared by the Company during the six months ended June 30, 2025, and the same period in 2024 - No dividend was paid or declared by the Company during the periods ended June 30, 2025 and 2024[141](index=141&type=chunk)[143](index=143&type=chunk) [Earnings Per Share](index=33&type=section&id=Earnings%20Per%20Share) Basic earnings per share for the six months ended June 30, 2025, was RMB 0.45 cents Earnings Per Share (For the six months ended June 30, 2025) | Metric | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :--- | :--- | :--- | | Profit attributable to owners of the Company (RMB'000) | 7,943 | 10,155 | | Weighted average number of ordinary shares in issue ('000) | 1,772,037 | 1,625,000 | | Basic earnings per share (RMB cents) | 0.45 | 0.62 | - The calculation of basic earnings per share for 2025 has taken into account the placement of 193,755,000 new shares completed on June 16, 2025[146](index=146&type=chunk)[148](index=148&type=chunk) - Diluted earnings per share is the same as basic earnings per share as there were no potential dilutive ordinary shares outstanding during the periods ended June 30, 2025 and 2024[147](index=147&type=chunk)[148](index=148&type=chunk) [Property, Plant and Equipment](index=34&type=section&id=Property%2C%20Plant%20and%20Equipment) The Group acquired approximately RMB 1,043,000 of property, plant and equipment during the period - During the six months ended June 30, 2025, the Group acquired property, plant and equipment of **RMB 1,043,000** (2024: RMB 4,633,000), mainly comprising plant and machinery[150](index=150&type=chunk)[152](index=152&type=chunk) [Trade and Other Receivables and Prepayments](index=34&type=section&id=Trade%20and%20Other%20Receivables%20and%20Prepayments) As of June 30, 2025, net trade and other receivables and prepayments amounted to RMB 376,746,000 Trade and Other Receivables and Prepayments (As of June 30, 2025) | Metric | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Trade receivables | 345,251 | 292,599 | | Less: Provision for impairment | (23,589) | (24,525) | | **Trade receivables, net** | **321,662** | **268,074** | | Deposits (current portion) | 5,100 | 3,648 | | Other receivables | 14,086 | 8,791 | | Prepayments | 8,375 | 7,456 | | **Trade and other receivables and prepayments, net** | **376,746** | **314,965** | Ageing Analysis of Trade Receivables (by invoice date) | Ageing of Trade Receivables (by invoice date) | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | 0 – 60 days | 198,670 | 174,987 | | 61 – 180 days | 53,772 | 46,371 | | 181 – 365 days | 42,988 | 32,880 | | Over 1 year | 49,821 | 38,361 | | **Total** | **345,251** | **292,599** | - The carrying amounts of trade and other receivables are all denominated in RMB and approximate their fair values[159](index=159&type=chunk)[160](index=160&type=chunk) [Bank Borrowing](index=35&type=section&id=Bank%20Borrowing) As of June 30, 2025, total bank borrowings amounted to RMB 30,120,000 Bank Borrowing (As of June 30, 2025) | Metric | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Bank loans | 30,120 | 39,714 | [Share Capital](index=36&type=section&id=Share%20Capital) As of June 30, 2025, the Company's issued and fully paid share capital was 1,949,735,000 shares Share Capital Movement (As of June 30, 2025) | Metric | Number of ordinary shares | Par value of shares (HK$) | Equivalent par value of shares (RMB) | | :--- | :--- | :--- | :--- | | Issued and fully paid at January 1, 2025 | 1,755,980,000 | 17,559,800 | 15,952,605 | | Placement of new shares | 193,755,000 | 1,937,550 | 1,768,154 | | Issued and fully paid at June 30, 2025 | 1,949,735,000 | 19,497,350 | 17,720,759 | - On June 16, 2025, the Company placed 193,755,000 new shares at a placing price of HKD 0.250 per share, with net proceeds of approximately **RMB 43,541,000** (approximately HKD 47,600,000)[164](index=164&type=chunk) [Trade and Other Payables](index=37&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables amounted to RMB 88,457,000 Trade and Other Payables (As of June 30, 2025) | Metric | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Trade payables | 33,793 | 28,810 | | Other payables | 54,664 | 78,220 | | **Total trade and other payables** | **88,457** | **107,030** | Ageing Analysis of Trade Payables (by invoice date) | Ageing of Trade Payables (by invoice date) | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | 0 – 60 days | 25,201 | 23,036 | | 61 – 180 days | 4,926 | 3,472 | | 181 – 365 days | 1,539 | 1,089 | | Over 1 year | 2,127 | 1,213 | | **Total** | **33,793** | **28,810** | - The carrying amounts of trade and other payables are denominated in RMB and approximate their fair values[168](index=168&type=chunk) [Interest in Associate](index=38&type=section&id=Interest%20in%20Associate) As of June 30, 2025, the Group's interest in an associate was RMB 91,961,000, primarily its investment in BTI Interest in Associate (As of June 30, 2025) | Metric | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Cost of investment in an associate | 91,518 | – | | Share of post-acquisition results | 443 | – | | **Total** | **91,961** | **–** | - The Group's associate is accounted for using the equity method[173](index=173&type=chunk)[175](index=175&type=chunk) - BTI is principally engaged in the business of recycling waste materials for packaging material production, and the design, manufacturing, and sale of biodegradable and environmentally friendly materials[175](index=175&type=chunk) - As of June 30, 2025, the Group held a **25% beneficial interest in BTI** (December 31, 2024: 19.51%)[175](index=175&type=chunk) - Mr Wei Dongjin, the co-chairman and an executive Director of the Company, is also a director and a substantial shareholder of BTI[175](index=175&type=chunk) [Commitments](index=38&type=section&id=Commitments) As of June 30, 2025, the Group had no capital commitments - As of June 30, 2025, there were no capital commitments (December 31, 2024: Nil)[174](index=174&type=chunk) [Related Party Transactions](index=39&type=section&id=Related%20Party%20Transactions) This section discloses transactions with controlling shareholders, including fund advances and outstanding balances Transactions with Controlling Shareholders (For the six months ended June 30, 2025) | Transaction Type | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Fund advances from controlling shareholders during the year | – | 4,614 | Balances with Controlling Shareholders (As of June 30, 2025) | Balance Type | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | | :--- | :--- | :--- | | Amount due to Mr Li | 21,025 | 21,025 | | Amount due to Mr Chen | 1,125 | 1,125 | - The balances with controlling shareholders are non-trade in nature, unsecured, denominated in RMB, interest-free and repayable on demand[181](index=181&type=chunk) Key Management Compensation (For the six months ended June 30, 2025) | Key Management Compensation | Six months ended June 30, 2025 (RMB'000) | Six months ended June 30, 2024 (RMB'000) | | :--- | :--- | :--- | | Salaries and wages | 1,247 | 1,103 | | Social insurance and housing provident fund contributions | 102 | 226 | | **Total** | **1,349** | **1,329** | [Financial Risk Management](index=41&type=section&id=Financial%20Risk%20Management) This section discloses fair value measurement information for the Group's financial assets and liabilities Fair Value Measurement of Financial Assets (As of June 30, 2025) | Financial Asset | As of June 30, 2025 (RMB'000) | As of December 31, 2024 (RMB'000) | Fair Value Hierarchy | Basis of Fair Value Measurement | Significant Unobservable Inputs | | :--- | :--- | :--- | :--- | :--- | :--- | | Listed shares classified as financial assets at FVTPL | – | 101,160 | Level 1 | Quoted prices available in an active market | Not applicable | [Subsequent Events](index=41&type=section&id=Subsequent%20Events) No significant events requiring adjustment or disclosure have occurred after the reporting period - The Group has had no significant events after the period ended June 30, 2025, that would require adjustment or additional disclosure in these consolidated financial statements[188](index=188&type=chunk)[189](index=189&type=chunk) [Other Information](index=42&type=section&id=Other%20Information) This chapter provides additional information on shareholdings, director details, and corporate governance practices [Directors' and Chief Executives' Interests and Short Positions in the Shares, Underlying Shares and Debentures of the Company and its Associated Corporations](index=42&type=section&id=Directors'%20and%20Chief%20Executives'%20Interests%20and%20Short%20Positions%20in%20the%20Shares%2C%20Underlying%20Shares%20and%20Debentures%20of%20the%20Company%20and%20its%20Associated%20Corporations) As of June 30, 2025, directors held long positions in the Company's shares, primarily through controlled corporations Long positions in the shares of the Company (As of June 30, 2025) | Director Name | Nature of interest | Number of shares held | Percentage of issued share capital | | :--- | :--- | :--- | :--- | | Mr Li Chenghua | Interest in a controlled corporation | 586,543,750 | 30.08% | | Mr Chen Liming | Interest in a controlled corporation | 586,543,750 | 30.08% | - Mr Li Chenghua holds his shares through Rich Cleanness Investment Holdings Limited, which is wholly-owned by him, and Mr Chen Liming holds his shares through Sunrise Cleanness Investment Holdings Limited, which is wholly-owned by him[194](index=194&type=chunk)[196](index=196&type=chunk)[199](index=199&type=chunk) - Mr Li Chenghua and Mr Chen Liming are deemed a group of controlling shareholders, and each is deemed to be interested in 1,173,087,500 shares[194](index=194&type=chunk)[196](index=196&type=chunk) [Long positions in the shares of HK$0.01 each of the Company](index=42&type=section&id=Long%20positions%20in%20the%20shares%20of%20HK$0.01%20each%20of%20the%20Company) Mr Li Chenghua and Mr Chen Liming each held a 30.08% interest in the Company's issued share capital Long positions in the shares of the Company (As of June 30, 2025) | Director Name | Nature of interest | Number of shares held | Percentage of issued share capital | | :--- | :--- | :--- | :--- | | Mr Li Chenghua | Interest in a controlled corporation | 586,543,750 | 30.08% | | Mr Chen Liming | Interest in a controlled corporation | 586,543,750 | 30.08% | - The 586,543,750 shares are held by Rich Cleanness Investment Holdings Limited, which is wholly-owned by Mr Li, who is therefore deemed to be interested in all the shares held by Rich Cleanness under the SFO[194](index=194&type=chunk) - Mr Li and Mr Chen have confirmed they are a group of controlling shareholders of the Company under the Listing Rules, and thus, Mr Li, Rich Cleanness, Mr Chen, and Sunrise Cleanness are each deemed to be interested in 1,173,087,500 shares[194](index=194&type=chunk) [Long positions in the shares of associated corporations](index=44&type=section&id=Long%20positions%20in%20the%20shares%20of%20associated%20corporations) Mr Li Chenghua and Mr Chen Liming each beneficially own 100% of their respective investment holding companies Long positions in the shares of associated corporations (As of June 30, 2025) | Director Name | Name of associated corporation | Nature of interest | Number of shares held | Percentage of interest in the associated corporation | | :--- | :--- | :--- | :--- | | Mr Li | Rich Cleanness | Beneficial owner | 1 | 100% | | Mr Chen | Sunrise Cleanness | Beneficial owner | 1 | 100% | - The Company is 30.08% owned by Rich Cleanness, which is wholly-owned by Mr Li, and 30.08% owned by Sunrise Cleanness, which is wholly-owned by Mr Chen[199](index=199&type=chunk) [Substantial Shareholders' Interests and Short Positions in the Shares and Underlying Shares of the Company](index=45&type=section&id=Substantial%20Shareholders'%20Interests%20and%20Short%20Positions%20in%20the%20Shares%20and%20Underlying%20Shares%20of%20the%20Company) As of June 30, 2025, Rich Cleanness and Sunrise Cleanness each held 30.08% of the Company's shares Long positions in the shares of the Company (As of June 30, 2025) | Shareholder Name | Nature of interest | Number of shares held | Percentage of issued share capital | | :--- | :--- | :--- | :--- | | Rich Cleanness | Beneficial owner / Other (Interest of controlling shareholder) | 586,543,750 | 30.08% | | Mr Li | Interest in a controlled corporation / Interest in a controlled corporation | 586,543,750 | 30.08% | | Ms Tang Yongzhen | Interest of spouse | 586,543,750 | 30.08% | | Sunrise Cleanness | Beneficial owner / Other (Interest of controlling shareholder) | 586,543,750 | 30.08% | | Mr Chen | Interest in a controlled corporation / Interest in a controlled corporation | 586,543,750 | 30.08% | - Rich Cleanness is wholly-owned by Mr Li, and Sunrise Cleanness is wholly-owned by Mr Chen[206](index=206&type=chunk) - Mr Li and Mr Chen have confirmed they are a group of controlling shareholders of the Company under the Listing Rules, and thus, Mr Li, Rich Cleanness, Mr Chen, and Sunrise Cleanness are each deemed to be interested in 1,173,087,500 shares[206](index=206&type=chunk) - Ms Tang Yongzhen is the spouse of Mr Li and is deemed to be interested in the shares in which Mr Li has an interest under the SFO[206](index=206&type=chunk) [Long positions in the Shares](index=45&type=section&id=Long%20positions%20in%20the%20Shares_Substantial) Rich Cleanness and Sunrise Cleanness each held 30.08% of the Company's shares as of June 30, 2025 Long positions in the shares of the Company (As of June 30, 2025) | Shareholder Name | Nature of interest | Number of shares held | Percentage of issued share capital | | :--- | :--- | :--- | :--- | | Rich Cleanness | Beneficial owner / Other (Interest of controlling shareholder) | 586,543,750 | 30.08% | | Mr Li | Interest in a controlled corporation / Interest in a controlled corporation | 586,543,750 | 30.08% | | Ms Tang Yongzhen | Interest of spouse | 586,543,750 | 30.08% | | Sunrise Cleanness | Beneficial owner / Other (Interest of controlling shareholder) | 586,543,750 | 30.08% | | Mr Chen | Interest in a controlled corporation / Interest in a controlled corporation | 586,543,750 | 30.08% | - Rich Cleanness is wholly-owned by Mr Li, and Sunrise Cleanness is wholly-owned by Mr Chen[206](index=206&type=chunk) - Mr Li and Mr Chen have confirmed they are a group of controlling shareholders of the Company under the Listing Rules, and thus, Mr Li, Rich Cleanness, Mr Chen, and Sunrise Cleanness are each deemed to be interested in 1,173,087,500 shares[206](index=206&type=chunk) - Ms Tang Yongzhen is the spouse of Mr Li and is deemed to be interested in the shares in which Mr Li has an interest under the SFO[206](index=206&type=chunk) [Disclosure of Information on Directors](index=47&type=section&id=Disclosure%20of%20Information%20on%20Directors) This section provides detailed biographical information for the company's executive and independent non-executive directors - **Mr Li Chenghua (52)**, co-chairman and chief executive officer, is responsible for the Group's overall strategic planning, management, operations, and business development, with over 26 years of experience in the cleaning service industry[207](index=207&type=chunk)[208](index=208&type=chunk)[210](index=210&type=chunk)[211](index=211&type=chunk) - **Mr Wei Dongjin (47)**, co-chairman, has over 20 years of experience in oil transportation, bio-based agriculture, and agricultural and forestry waste recycling, and is the founder, chairman, general manager, and legal representative of Shenzhen BTI Excellence Technology Co, Ltd (BTI)[212](index=212&type=chunk)[213](index=213&type=chunk) - **Mr Chen Liming (55)**, an executive director, is responsible for providing industry advice, strategic management, and formulating business strategies, with over 24 years of experience in the cleaning service industry and is one of the Group's founders[214](index=214&type=chunk)[215](index=215&type=chunk)[216](index=216&type=chunk) - **Dr Wang Hui (46)**, an independent non-executive director, has over 25 years of experience in corporate finance and accounting, project investment and decision-making, and risk management and control, and serves as the chairman of the Audit Committee and Investment Committee[221](index=221&type=chunk)[222](index=222&type=chunk)[224](index=224&type=chunk) - **Ms Zhang Baowen (37)**, an independent non-executive director, is a practicing solicitor in Hong Kong with over 12 years of experience in the legal industry and serves as the chairwoman of the Remuneration Committee[223](index=223&type=chunk)[225](index=225&type=chunk)[228](index=228&type=chunk) - **Ms Qiu Yanhong (38)**, an independent non-executive director, has approximately 13 years of experience in the banking industry, focusing on securities and asset management services, and serves as the chairwoman of the Nomination Committee[226](index=226&type=chunk)[227](index=227&type=chunk)[228](index=228&type=chunk)[229](index=229&type=chunk)[230](index=230&type=chunk)[231](index=231&type=chunk)[232](index=232&type=chunk)[233](index=233&type=chunk) [Executive Director](index=47&type=section&id=Executive%20Director) This section details the backgrounds of the three executive directors: Li Chenghua, Wei Dongjin, and Chen Liming - **Mr Li Chenghua (52)**, co-chairman and chief executive officer, is responsible for the Group's overall strategic planning, management, operations, and business development, with over 26 years of experience in the cleaning service industry[207](index=207&type=chunk)[208](index=208&type=chunk)[210](index=210&type=chunk)[211](index=211&type=chunk) - **Mr Wei Dongjin (47)** has over 20 years of experience in oil transportation, bio-based agriculture, and agricultural and forestry waste recycling, and is currently the founder, chairman, general manager, and legal representative of Shenzhen BTI Excellence Technology Co, Ltd (BTI)[212](index=212&type=chunk)[213](index=213&type=chunk) - **Mr Chen Liming (55)**, an executive director, is responsible for providing industry advice, strategic management, and formulating business strategies, with over 24 years of experience in the cleaning service industry and is one of the Group's founders[214](index=214&type=chunk)[215](index=215&type=chunk)[216](index=216&type=chunk) [Independent non-executive Director](index=51&type=section&id=Independent%20non-executive%20Director) This section introduces the backgrounds of the three independent non-executive directors: Dr Wang Hui, Ms Zhang Baowen, and Ms Qiu Yanhong - **Dr Wang Hui (46)**, appointed as an independent non-executive director on July 26, 2024, has over 25 years of experience in corporate finance and accounting, project investment and decision-making, and risk management and control, and serves as the chairman of the Audit Committee and Investment Committee[221](index=221&type=chunk)[222](index=222&type=chunk)[224](index=224&type=chunk) - **Ms Zhang Baowen (37)**, appointed as an independent non-executive director on November 14, 2023, is a practicing solicitor in Hong Kong with over 12 years of experience in the legal industry and serves as the chairwoman of the Remuneration Committee[223](index=223&type=chunk)[225](index=225&type=chunk)[228](index=228&type=chunk) - **Ms Qiu Yanhong (38)**, appointed as an independent non-executive director on November 14, 2023, has approximately 13 years of experience in the banking industry, focusing on securities and asset management services, and serves as the chairwoman of the Nomination Committee[226](index=226&type=chunk)[227](index=227&type=chunk)[228](index=228&type=chunk)[229](index=229&type=chunk)[230](index=230&type=chunk)[231](index=231&type=chunk)[232](index=232&type=chunk)[233](index=233&type=chunk) [Securities Transactions by Directors](index=53&type=section&id=Securities%20Transactions%20by%20Directors) All directors have confirmed full compliance with the Model Code for securities transactions during the period - The Company has adopted the Model Code as set out in Appendix C3 to the Listing Rules as its code of conduct for securities transactions by Directors and relevant employees of the Group[234](index=234&type=chunk) - Specific enquiry has been made to all Directors who were in office during the six months ended June 30, 2025, and all of them have confirmed that they have fully complied with the Model Code and its code of conduct for securities transactions by Directors during the period[234](index=234&type=chunk) [Corporate Governance](index=54&type=section&id=Corporate%20Governance) The Company has complied with the Corporate Governance Code, except for the combined role of Chairman and CEO - During the six months ended June 30, 2025, the Company has complied with the code provisions set out in Part 2 of the Corporate Governance Code in Appendix C1 to the Listing Rules, with the exception that the roles of chairman and chief executive officer should be separate and should not be performed by the same individual[235](index=235&type=chunk)[236](index=236&type=chunk) - The Directors (including the independent non-executive Directors) consider that Mr Li is the best candidate for both positions and that the current structure is conducive to strong and consistent leadership, enabling the Group to make and implement decisions effectively, thus being in the best overall interests of the Group and the Company's shareholders[235](index=235&type=chunk)[236](index=236&type=chunk) [Share Option Scheme](index=55&type=section&id=Share%20Option%20Scheme) The Company adopted a share option scheme on November 14, 2023, to attract and retain talent - The Company adopted a share option scheme on November 14, 2023, to attract and retain the most qualified personnel, provide additional incentives to employees, directors, consultants, advisors, distributors, contractors, suppliers, agents, and service providers of the Group, and to promote the business success of the Group[237](index=237&type=chunk)[238](index=238&type=chunk) - Participants include directors and employees of the Company or any of its subsidiaries, as well as independent contractors who provide continuous and regular services to the Group[239](index=239&type=chunk) - The exercise price is determined at the sole discretion of the Board and shall not be less than the higher of the closing price of the shares on the daily quotation sheet of the Stock Exchange on the offer date, the average closing price on the five business days immediately preceding the offer date, and the nominal value of the shares on the offer date[240](index=240&type=chunk)[243](index=243&type=chunk) - The total number of shares that may be issued under the share option scheme shall not exceed **10% of the total number of issued shares on the Listing Date** (i.e., a maximum of 162,500,000 shares as of December 31, 2023), and the total number of shares granted to service providers shall not exceed 1% of the total issued shares[241](index=241&type=chunk)[243](index=243&type=chunk) - The vesting period for the options shall be no less than 12 months from the offer date, and the scheme is valid for 10 years from November 14, 2023[244](index=244&type=chunk)[245](index=245&type=chunk)[248](index=248&type=chunk)[249](index=249&type=chunk) - As of June 30, 2025, no share options were outstanding, granted, cancelled, exercised, or lapsed[245](index=245&type=chunk)[250](index=250&type=chunk) [Management Contracts](index=57&type=section&id=Management%20Contracts) No management contracts concerning the whole or any substantial part of the business were entered into during the period - During the reporting period, the Company did not enter into or have any contracts concerning the management and administration of the whole or any substantial part of its business[246](index=246&type=chunk)[251](index=251&type=chunk) [Purchase, Sale or Redemption of the Listed Securities of the Company](index=57&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Listed%20Securities%20of%20the%20Company) Neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - During the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities (including the sale of the Company's treasury shares)[247](index=247&type=chunk)[252](index=252&type=chunk) [Audit Committee](index=58&type=section&id=Audit%20Committee) The Audit Committee has reviewed the unaudited condensed financial results for the six months ended June 30, 2025 - The Audit Committee has reviewed the Group's unaudited condensed financial results for the six months ended June 30, 2025[253](index=253&type=chunk)[254](index=254&type=chunk) - The Audit Committee has discussed with the Company's management the accounting principles and practices adopted by the Group (including a review of the Company's unaudited condensed consolidated financial statements and interim report for the six months ended June 30, 2025), and the Audit Committee had no objections[253](index=253&type=chunk)[254](index=254&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公佈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。 ESPRIT HOLDINGS LIMITED （於百慕達註冊成立之有限公司） 股份代號：00330 截至二零二五年六月三十日止六個月之中期業績公佈 中期業績 3 思捷環球控股有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司 （「本集團」）截至二零二五年六月三十日止六個月（「本期間」）之未經審核簡明綜合 中期財務資料連同經挑選的附註如下： 1 簡明綜合中期財務資料 簡明綜合損益表 | | | 未經審核 | 未經審核 | | --- | --- | --- | --- | | | | 截至 | 截至 | | | | 二零二五年 | 二零二四年 | | | | 六月三十日 | 六月三十日 | | | 附註 | 止六個月 | 止六個月 | | | | | （經重列） | | | | 千港元 | 千港元 | | 持續經營業務 | | | | | 收入 | 2 | 6,595 | 26,070 | ...

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。 截止2025年6月30日，我們的收入為人民幣326.8百萬元，同比增長了22.2%； 我們的毛利為人民幣21.0百萬元，同比增長了152.1%；毛利率為6.4%，同比增 長3.3百分點；我們的虧損為人民幣174.2百萬元，同比擴大了12.9%，虧損同比 擴大的主要原因是信用減值虧損撥備。 1 Breton Technology Co., Ltd. 博雷頓科技股份公司 （於中華人民共和國成立的股份有限公司） （股份代號：1333） 截至2025年6月30日止六個月 中期業績公告 董事會欣然宣佈本集團截至2025年6月30日止六個月的未經審核簡明綜合中期 業績，連同截至2024年6月30日止六個月的比較數字。 財務摘要 截至6月30日止六個月 | | 2025年 | 2024年 | | --- | --- | --- | | | 人民幣千元 | 人民幣千元 | | | （未經審核） | （未經審核） | | ...

[Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The company reported a substantial reduction in loss for the period despite a decrease in revenue, primarily driven by a positive shift in financial asset fair value changes Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30): | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 69,577 | 88,516 | -21.4% | | Cost of Sales | (44,383) | (50,664) | -12.4% | | Gross Profit | 25,194 | 37,852 | -33.5% | | Other Income, Gains and Losses, Net | 792 | 2,571 | -69.2% | | Selling and Distribution Costs | (21,760) | (23,920) | -9.0% | | Administrative Expenses | (14,729) | (19,631) | -25.0% | | Gain (Loss) on Fair Value Change of Financial Assets at Fair Value Through Profit or Loss | 8,979 | (12,028) | N/A (Turned from loss to gain) | | Loss Before Income Tax | (9,334) | (22,620) | -58.7% | | Loss for the Period | (9,285) | (24,264) | -61.7% | | Loss for the Period Attributable to Owners of the Company | (9,125) | (24,264) | -62.4% | | Basic and Diluted Loss Per Share (HK Cents) | (0.18) | (0.48) | -62.5% | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) The company's financial position shows a slight increase in total assets and equity, with improved net current assets and reduced current liabilities Condensed Consolidated Statement of Financial Position (As at June 30/December 31): | Indicator | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Assets | 208,731 | 205,545 | +1.5% | | Current Assets | 304,340 | 312,048 | -2.5% | | Current Liabilities | 74,177 | 84,028 | -11.7% | | Net Current Assets | 230,163 | 228,020 | +0.9% | | Total Assets Less Current Liabilities | 438,894 | 433,565 | +1.2% | | Non-current Liabilities | 7,981 | 7,074 | +12.8% | | Net Assets | 430,913 | 426,491 | +1.0% | | Total Equity | 430,913 | 426,491 | +1.0% | [Notes to the Condensed Consolidated Interim Financial Statements](index=5&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) This section details the preparation basis, principal accounting policies, and the impact of revised Hong Kong Financial Reporting Standards on the interim financial statements - The financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" and applicable disclosure provisions of the HKEX Listing Rules[6](index=6&type=chunk)[7](index=7&type=chunk) - The revised Hong Kong Financial Reporting Standards were first applied in this interim period, with no significant impact on financial position or performance[8](index=8&type=chunk) [1. Basis of Preparation and Principal Accounting Policies](index=5&type=section&id=1.%20Basis%20of%20Preparation%20and%20Principal%20Accounting%20Policies) This chapter explains that the condensed consolidated interim financial statements are prepared under HKAS 34 and HKEX Listing Rules, using a historical cost basis consistent with prior annual financial statements [1.1 Basis of Preparation](index=5&type=section&id=1.1%20Basis%20of%20Preparation) The condensed consolidated interim financial statements are prepared in accordance with HKAS 34 "Interim Financial Reporting" and applicable disclosure provisions of the HKEX Listing Rules, and should be read in conjunction with the annual financial statements - The financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" and applicable disclosure provisions of the HKEX Listing Rules[6](index=6&type=chunk) [1.2 Principal Accounting Policies](index=5&type=section&id=1.2%20Principal%20Accounting%20Policies) The unaudited condensed consolidated interim financial statements are prepared on a historical cost basis, with accounting policies and methods of computation consistent with the prior year's annual consolidated financial statements, except for the application of revised HKFRS - The financial statements are prepared on a historical cost basis, with certain financial instruments measured at fair value[7](index=7&type=chunk) - Except for the application of revised Hong Kong Financial Reporting Standards, accounting policies are consistent with the prior year's consolidated financial statements[7](index=7&type=chunk) [2. Application of Revised Hong Kong Financial Reporting Standards](index=5&type=section&id=2.%20Application%20of%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) During this interim period, the Group first applied revised HKFRS (HKAS 21 (Amendment) Lack of Exchangeability), which had no significant impact on the financial position, performance, or disclosures for current and prior periods - Hong Kong Accounting Standard 21 (Amendment) "Lack of Exchangeability" was first applied in this interim period[8](index=8&type=chunk) - The application of revised standards had no significant impact on the financial position, performance, or disclosures for the current and prior periods[8](index=8&type=chunk) [3. Revenue and Segment Information](index=6&type=section&id=3.%20Revenue%20and%20Segment%20Information) The Group operates in two segments: dental business and healthcare business, with total revenue of HK$69,577 thousand in H1 2025, where the dental business contributed HK$66,433 thousand and the healthcare business HK$3,144 thousand, with the dental business facing losses while the healthcare business achieved profitability - The Group's operations are divided into two segments: dental business and healthcare business[9](index=9&type=chunk) Segment Revenue (For the six months ended June 30): | Segment | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Dental Business | 66,433 | 85,888 | -22.6% | | Healthcare Business | 3,144 | 2,628 | +19.6% | | **Total Revenue** | **69,577** | **88,516** | **-21.4%** | Segment Operating (Loss) Profit (For the six months ended June 30): | Segment | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Dental Business | (16,658) | (2,986) | | Healthcare Business | 757 | (1,252) | | **Total Segment Operating (Loss) Profit** | **(15,901)** | **(4,238)** | [3.1 Segment Revenue and Results](index=6&type=section&id=3.1%20Segment%20Revenue%20and%20Results) In H1 2025, dental business revenue decreased by 22.6% year-on-year to HK$66,433 thousand, recording an operating loss of HK$16,658 thousand, while healthcare business revenue increased by 19.6% year-on-year to HK$3,144 thousand, achieving an operating profit of HK$757 thousand, leading to an overall segment operating loss of HK$15,901 thousand Segment Revenue and Operating Results (For the six months ended June 30): | Indicator | Dental Business (HK$ Thousand) | Healthcare Business (HK$ Thousand) | Total (HK$ Thousand) | | :--- | :--- | :--- | :--- | | **2025 Revenue** | 66,433 | 3,144 | 69,577 | | **2025 Segment Operating (Loss) Profit** | (16,658) | 757 | (15,901) | | **2024 Revenue** | 85,888 | 2,628 | 88,516 | | **2024 Segment Operating Loss** | (2,986) | (1,252) | (4,238) | - Dental business revenue decreased, and operating loss expanded; healthcare business revenue grew, achieving operating profit[10](index=10&type=chunk)[11](index=11&type=chunk) [3.2 Segment Assets and Liabilities](index=8&type=section&id=3.2%20Segment%20Assets%20and%20Liabilities) As of June 30, 2025, the Group's total reportable segment assets were HK$511,923 thousand, with dental business assets at HK$271,757 thousand and healthcare business assets at HK$240,166 thousand, and total liabilities were HK$82,158 thousand, showing a decrease in both total assets and liabilities compared to December 31, 2024 Segment Assets and Liabilities (As at June 30/December 31): | Indicator | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Reportable Segment Assets | 511,923 | 515,802 | | Total Assets | 513,071 | 517,593 | | Reportable Segment Liabilities | (66,441) | (74,695) | | Total Liabilities | (82,158) | (91,102) | [3.3 Geographical Information](index=9&type=section&id=3.3%20Geographical%20Information) The Group's operations are primarily located in Hong Kong and Mainland China (excluding Hong Kong), with over 90% of external customer revenue originating from Mainland China (excluding Hong Kong), and total non-current assets as of June 30, 2025, were HK$46,502 thousand, with Mainland China (excluding Hong Kong) accounting for HK$24,106 thousand - Over **90%** of external customer revenue is from Mainland China (excluding Hong Kong)[13](index=13&type=chunk) Non-current Assets by Geographical Location: | Region | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Mainland China (excluding Hong Kong) | 24,106 | 22,679 | | Other | 22,396 | 22,605 | | **Total** | **46,502** | **45,284** | [3.4 Information About Major Customers](index=9&type=section&id=3.4%20Information%20About%20Major%20Customers) The Group has no individual customer whose revenue accounts for more than 10% of total revenue - No individual customer's revenue accounts for more than **10%** of the Group's total revenue[16](index=16&type=chunk) [4. Loss Before Income Tax](index=10&type=section&id=4.%20Loss%20Before%20Income%20Tax) The loss before income tax for H1 2025 was HK$9,334 thousand, a significant reduction from HK$22,620 thousand in the same period last year, primarily due to a shift from loss to gain in fair value changes of financial assets at fair value through profit or loss, and reduced depreciation, amortization, lease expenses, and R&D expenses Loss Before Income Tax Components (For the six months ended June 30): | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Amortisation of Intangible Assets | 347 | 343 | | Depreciation of Property, Plant and Equipment | 3,289 | 4,056 | | Depreciation of Right-of-use Assets | 2,773 | 3,322 | | Short-term Lease Expenses | 877 | 1,646 | | Research and Development Expenses | 7,779 | 8,584 | | Finance Costs on Lease Liabilities | 228 | 409 | | Bank Interest Income | (746) | (1,090) | | Dividend Income | (201) | (666) | | Net Exchange Gains | 485 | (153) | - Loss before income tax significantly decreased from **HK$22,620 thousand** in 2024 to **HK$9,334 thousand** in 2025[2](index=2&type=chunk) [5. Income Tax Credit (Expense)](index=11&type=section&id=5.%20Income%20Tax%20Credit%20%28Expense%29) The income tax credit for H1 2025 was HK$49 thousand, compared to an expense of HK$1,644 thousand in the prior year, with no taxable profits in Hong Kong and overseas jurisdictions, and a 15% preferential tax rate for a PRC subsidiary due to its high-tech enterprise qualification and R&D super deduction policy Income Tax Credit (Expense) (For the six months ended June 30): | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Current Tax | – | 1,558 | | Deferred Tax (Credit) Expense | (49) | 86 | | **Total** | **(49)** | **1,644** | - Hong Kong and overseas jurisdictions had no taxable profits, thus no Hong Kong profits tax provision was made[19](index=19&type=chunk)[20](index=20&type=chunk) - A PRC subsidiary enjoys a **15%** preferential tax rate due to its high-tech enterprise qualification and can apply for a **175%** super deduction allowance for R&D expenses[21](index=21&type=chunk) [Overseas Income Tax](index=11&type=section&id=Overseas%20Income%20Tax) The Group is not subject to any income tax in the jurisdictions of Bermuda and the British Virgin Islands - The Group is not subject to any income tax in Bermuda and the British Virgin Islands[19](index=19&type=chunk) [Hong Kong Profits Tax](index=11&type=section&id=Hong%20Kong%20Profits%20Tax) No provision for Hong Kong profits tax was made as the Group had no assessable profits for the six months ended June 30, 2025, and 2024 - The Group had no assessable profits in H1 2025 and 2024, thus no provision for Hong Kong profits tax was made[20](index=20&type=chunk) [PRC Enterprise Income Tax](index=11&type=section&id=PRC%20Enterprise%20Income%20Tax) PRC subsidiaries are subject to a 25% enterprise income tax rate, but one subsidiary, recognized as a "High and New Technology Enterprise," qualifies for a 15% preferential tax rate for three tax years from 2024 to 2026 and can apply for a 175% super deduction allowance for R&D expenses - PRC subsidiaries are subject to a **25%** enterprise income tax rate, but one high-tech enterprise enjoys a **15%** preferential tax rate[21](index=21&type=chunk) - Qualified enterprises can apply for a **175%** super deduction allowance for R&D expenses[21](index=21&type=chunk) [6. Dividends](index=12&type=section&id=6.%20Dividends) The company did not pay, declare, or propose any dividends for the six months ended June 30, 2025, and 2024 - For the six months ended June 30, 2025, and 2024, the company neither paid, declared, nor proposed any dividends[22](index=22&type=chunk) [7. Loss Per Share](index=12&type=section&id=7.%20Loss%20Per%20Share) The basic and diluted loss per share attributable to owners of the company for H1 2025 was 0.18 HK Cents, a significant reduction from 0.48 HK Cents in H1 2024, with diluted loss per share being the same as basic loss per share due to the exercise price of share options being higher than the average market price of shares Loss Per Share (For the six months ended June 30): | Indicator | 2025 (HK Cents) | 2024 (HK Cents) | | :--- | :--- | :--- | | Basic and Diluted Loss Per Share | (0.18) | (0.48) | - The exercise price of share options was higher than the average market price of shares, thus diluted loss per share was the same as basic loss per share[24](index=24&type=chunk)[25](index=25&type=chunk) [8. Financial Assets at Fair Value Through Profit or Loss](index=13&type=section&id=8.%20Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) As of June 30, 2025, total financial assets at fair value through profit or loss amounted to HK$162,229 thousand, a slight increase from December 31, 2024, primarily comprising limited partnership interests in Zhuhai Partnership and Haoyi Partnership, with a fair value change gain of HK$8,979 thousand recorded for the period Financial Assets at Fair Value Through Profit or Loss (As at June 30/December 31): | Item | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Zhuhai Partnership | 119,451 | 116,919 | | Haoyi Partnership | 42,778 | 43,342 | | **Total** | **162,229** | **160,261** | - A fair value change gain of **HK$8,979 thousand** was recorded for financial assets at fair value through profit or loss in the current period, compared to a loss of HK$9,772 thousand in the prior period[32](index=32&type=chunk) - The company's directors believe there is no actual control or significant influence over the two limited partnership entities, hence they are measured at fair value through profit or loss[26](index=26&type=chunk) [(a) Zhuhai Partnership](index=13&type=section&id=%28a%29%20Zhuhai%20Partnership) The Group holds a 5.51% equity interest in Zhuhai Partnership, which primarily invests in equity and equity-related securities in information technology and high-quality healthcare industries, and exercises financial and operational control over Shenzhen Dayi Zhen Technology Co Ltd (the equity holder of Zhuhai Partnership) through contractual arrangements (VIE agreements), consolidating its financial information into the consolidated financial statements - The Group holds a **5.51%** equity interest in Zhuhai Partnership, primarily investing in information technology and high-quality healthcare industries[27](index=27&type=chunk) - Through cooperation agreements and VIE agreements with Shenzhen Yingdu and Shenzhen Dayi Zhen Technology Co Ltd, the Group exercises effective control over Shenzhen Dayi Zhen and consolidates its financial information into the consolidated financial statements[28](index=28&type=chunk)[30](index=30&type=chunk) - Legal counsel believes the contractual arrangements comply with PRC laws and regulations, are valid, binding, and legally enforceable[29](index=29&type=chunk) [(b) Haoyi Partnership](index=15&type=section&id=%28b%29%20Haoyi%20Partnership) The Group holds a 99.9% limited partnership interest in Haoyi Partnership, which focuses on China's healthcare business, and after selling part of its equity in 2023, the Group lost control, joint control, or significant influence over Haoyi Partnership, thus classifying it as a financial asset at fair value through profit or loss - The Group holds a **99.9%** limited partnership interest in Haoyi Partnership, which focuses on China's healthcare business[31](index=31&type=chunk) - After selling part of its equity in 2023, the Group lost control over Haoyi Partnership, classifying it as a financial asset at fair value through profit or loss[31](index=31&type=chunk) [9. Trade and Other Receivables](index=16&type=section&id=9.%20Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables amounted to HK$140,842 thousand, a decrease from HK$148,177 thousand as of December 31, 2024, with a net reversal of impairment allowance for trade receivables of HK$197 thousand Trade and Other Receivables (As at June 30/December 31): | Item | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Trade Receivables (net of impairment) | 98,178 | 111,201 | | Other Receivables related to Land Use Rights Acquisition | 21,935 | 21,202 | | Other Receivables, Prepayments and Deposits (net of impairment) | 42,664 | 36,976 | | **Total** | **140,842** | **148,177** | - Net reversal of impairment loss for trade receivables was **HK$197 thousand**[2](index=2&type=chunk) [(a) Trade Receivables](index=16&type=section&id=%28a%29%20Trade%20Receivables) As of June 30, 2025, trade receivables (net of impairment) were HK$98,178 thousand, a decrease from HK$111,201 thousand as of December 31, 2024, with an increased proportion of receivables aged 91 to 180 days and over one year Trade Receivables Ageing Analysis (As at June 30/December 31): | Ageing | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | 0 to 90 days | 23,604 | 57,282 | | 91 to 180 days | 42,358 | 27,105 | | 181 to 365 days | 19,706 | 20,003 | | Over one year | 12,510 | 6,811 | | **Total** | **98,178** | **111,201** | - The average credit period for trade receivables is **30 to 90 days**, with some good customers extending up to **360 days**[34](index=34&type=chunk) [(b) Other Receivables, Prepayments and Deposits](index=17&type=section&id=%28b%29%20Other%20Receivables%2C%20Prepayments%20and%20Deposits) As of June 30, 2025, other receivables related to the acquisition of land use rights amounted to HK$21,935 thousand, while a deposit of HK$20,000 thousand previously paid by the Group for a rural revitalization project was fully impaired in 2024 due to the termination of the original cooperation agreement and non-payment by the counterparty - As of June 30, 2025, other receivables related to the acquisition of land use rights amounted to **HK$21,935 thousand**[33](index=33&type=chunk) - In 2024, a **HK$20,000 thousand** deposit for land use rights was fully impaired due to the termination of the original cooperation agreement and non-payment by the counterparty[36](index=36&type=chunk) [(c) Movement in Impairment of Other Receivables](index=18&type=section&id=%28c%29%20Movement%20in%20Impairment%20of%20Other%20Receivables) As of June 30, 2025, the impairment allowance for other receivables increased to HK$29,994 thousand, primarily due to an exchange adjustment increase of HK$1,002 thousand Movement in Impairment of Other Receivables (As at June 30/December 31): | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | At January 1 | 28,992 | 7,817 | | Recognized during the year | – | 21,893 | | Exchange adjustment | 1,002 | (718) | | **At June 30/December 31** | **29,994** | **28,992** | [(d) Other](index=18&type=section&id=%28d%29%20Other) The directors believe there is no material difference between the fair value and carrying amount of trade and other receivables expected to be realized within one year, as these balances are due in the short term - The fair value of trade and other receivables has no material difference from their carrying amount, as all balances are due in the short term[37](index=37&type=chunk) [10. Amounts Due From/To Fellow Subsidiaries/Ultimate Holding Company](index=18&type=section&id=10.%20Amounts%20Due%20From%2FTo%20Fellow%20Subsidiaries%2FUltimate%20Holding%20Company) These amounts are unsecured, interest-free, and repayable on demand, and the directors believe there has been no significant increase in credit risk or default rates for amounts due from fellow subsidiaries - Amounts due from/to fellow subsidiaries/ultimate holding company are unsecured, interest-free, and repayable on demand[38](index=38&type=chunk) - The directors believe there has been no significant increase in credit risk or default rates for amounts due from fellow subsidiaries[38](index=38&type=chunk) [11. Trade and Other Payables](index=18&type=section&id=11.%20Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables amounted to HK$55,122 thousand, a decrease from HK$64,773 thousand as of December 31, 2024, with an increase in trade payables and a decrease in advances received and other payables Trade and Other Payables (As at June 30/December 31): | Item | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Trade Payables | 9,495 | 5,552 | | Advances Received | 18,326 | 25,058 | | Other Payables | 13,763 | 20,688 | | Accrued Charges | 9,619 | 10,485 | | Contract Liabilities | 3,919 | 2,990 | | **Total** | **55,122** | **64,773** | [(a) Trade Payables](index=19&type=section&id=%28a%29%20Trade%20Payables) As of June 30, 2025, trade payables were HK$9,495 thousand, an increase from HK$5,552 thousand as of December 31, 2024, with an average credit period of 90 days Trade Payables Ageing Analysis (As at June 30/December 31): | Ageing | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | 0 to 90 days | 7,741 | 5,179 | | 91 to 180 days | 1,389 | 295 | | Over 180 days | 365 | 78 | | **Total** | **9,495** | **5,552** | - The average credit period for purchases of goods is **90 days**[40](index=40&type=chunk) [(b) Other Payables](index=19&type=section&id=%28b%29%20Other%20Payables) Other payables primarily include PRC Value Added Tax and other taxes payable - Other payables primarily include PRC Value Added Tax and other taxes payable[40](index=40&type=chunk) [(c) Accrued Charges](index=19&type=section&id=%28c%29%20Accrued%20Charges) Accrued charges primarily include staff salaries and allowances, contributions to defined contribution retirement schemes, and consulting fees for dental and healthcare projects - Accrued charges primarily include staff salaries, retirement scheme contributions, and consulting fees for dental and healthcare projects[40](index=40&type=chunk) [(d) Contract Liabilities](index=19&type=section&id=%28d%29%20Contract%20Liabilities) Contract liabilities represent advances received for medical services under the healthcare business segment, amounting to HK$3,919 thousand as of June 30, 2025, an increase from December 31, 2024 - Contract liabilities represent advances received for medical services under the healthcare business segment[40](index=40&type=chunk) Movement in Contract Liabilities (As at June 30/December 31): | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | At January 1 | 2,990 | 2,536 | | Additions | 4,073 | 6,772 | | Revenue recognized during the year | (3,144) | (6,318) | | **At June 30/December 31** | **3,919** | **2,990** | [(e) Other](index=20&type=section&id=%28e%29%20Other) The directors consider that all amounts are short-term, and therefore the carrying amounts of the Group's trade and other payables are considered to approximate their fair values - The carrying amounts of trade and other payables are considered to approximate their fair values, as all amounts are short-term[41](index=41&type=chunk) [Management Discussion and Analysis](index=21&type=section&id=Management%20Discussion%20and%20Analysis) The Group's H1 2025 revenue decreased by 21.4%, but the loss attributable to owners of the company significantly narrowed by 62.4%, primarily due to a positive shift in the fair value of financial assets - The Group's H1 2025 revenue decreased by **21.4%**, but the loss attributable to owners of the company significantly narrowed by **62.4%**[42](index=42&type=chunk) - Dental business revenue declined due to centralized procurement policies, while healthcare business revenue increased by **15%** year-on-year[44](index=44&type=chunk)[46](index=46&type=chunk) - The positive shift in fair value changes of financial assets at fair value through profit or loss was a primary reason for the narrowed loss[42](index=42&type=chunk)[51](index=51&type=chunk) [Financial Highlights](index=21&type=section&id=Financial%20Highlights) In H1 2025, the Group's revenue was approximately HK$69,600 thousand, a 21.4% year-on-year decrease, with gross profit margin falling to 36.2%, while the loss attributable to owners of the company significantly narrowed to approximately HK$9,100 thousand (HK$24,300 thousand in the prior year), and basic and diluted loss per share was 0.18 HK Cents Financial Highlights (For the six months ended June 30): | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 69,600 | 88,500 | -21.4% | | Gross Margin | 36.2% | 42.8% | -6.6 percentage points | | Loss Attributable to Owners of the Company | (9,100) | (24,300) | -62.5% | | Basic and Diluted Loss Per Share (HK Cents) | (0.18) | (0.48) | -62.5% | [Interim Dividend](index=21&type=section&id=Interim%20Dividend) The Board of Directors does not recommend the payment of an interim dividend for the current period, consistent with the prior year - The Board of Directors does not recommend the payment of an interim dividend for the current period[43](index=43&type=chunk) [Business Review](index=21&type=section&id=Business%20Review) The Group primarily operates dental and healthcare businesses, with dental business revenue decreasing by 22.6% due to centralized procurement policies, but continuing to invest in R&D and market expansion, while healthcare business revenue increased by 15% year-on-year and successfully renewed its medical insurance designated institution qualification - The Group primarily engages in dental business (sales and production of prosthetics) and healthcare business (sports rehabilitation services)[9](index=9&type=chunk)[44](index=44&type=chunk)[46](index=46&type=chunk) - Dental business revenue decreased, but the Group continues to invest in R&D and plans to establish regional manufacturing centers in Shanghai and Chengdu[44](index=44&type=chunk)[45](index=45&type=chunk) - Healthcare business revenue increased by **15%** year-on-year and successfully renewed its Shenzhen medical insurance designated institution qualification[46](index=46&type=chunk) [Dental Business](index=21&type=section&id=Dental%20Business) The dental business, primarily involving the sale and production of prosthetics, generated approximately HK$66,400 thousand in H1 2025, a year-on-year decrease of approximately HK$19,500 thousand, with the Group continuing to invest in R&D (approximately HK$7,800 thousand) and planning to establish regional manufacturing centers in Shanghai and Chengdu to reduce logistics costs, and despite the impact of centralized procurement policies and industry competition, the implant business has entered more chain dental institutions - Dental business revenue was approximately **HK$66,400 thousand**, a decrease of approximately **HK$19,500 thousand** compared to the prior year[44](index=44&type=chunk) - R&D expenses were approximately **HK$7,800 thousand**, reflecting management's commitment to future technology investment[45](index=45&type=chunk) - Plans include establishing regional manufacturing centers in Shanghai and Chengdu to reduce logistics costs and expanding the Sino-US implant R&D center team[44](index=44&type=chunk)[45](index=45&type=chunk) [Healthcare Business](index=22&type=section&id=Healthcare%20Business) Hejia Rehabilitation Clinic successfully met the Shenzhen Medical Insurance Bureau's performance assessment, smoothly renewing its medical insurance designated institution qualification, expanded its team in H1 2025, increased operating revenue by 15% year-on-year, and became Shenzhen's most widely distributed medical-grade sports rehabilitation center, enhancing its industry influence - Hejia Rehabilitation Clinic successfully renewed its Shenzhen medical insurance designated institution qualification, with operating revenue increasing by **15%** year-on-year[46](index=46&type=chunk) - It has become Shenzhen's most widely distributed medical-grade sports rehabilitation center and was invited to be a理事单位 of the National Sports Rehabilitation Industry Alliance, enhancing its industry influence[64](index=64&type=chunk) [Operating Results and Financial Review](index=23&type=section&id=Operating%20Results%20and%20Financial%20Review) This section provides a detailed analysis of the Group's revenue, gross profit, financial assets, cash flow, capital expenditure, contingent liabilities, and treasury policy, noting that revenue decline was primarily due to China's government centralized procurement policies, which also led to a lower gross profit margin, while fair value changes of financial assets shifted from loss to gain, bank balances remained robust, and capital expenditure increased - Revenue decreased by **21.4%** to **HK$69,600 thousand**, primarily due to reduced average selling prices of dental products caused by China's government centralized procurement policies[47](index=47&type=chunk) - Gross profit decreased by **33.5%** to **HK$25,200 thousand**, with gross profit margin falling to **36.2%**, mainly due to lower average selling prices during the period[48](index=48&type=chunk) - Fair value changes of financial assets at fair value through profit or loss shifted from loss to gain, accounting for approximately **31.6%** of total assets[51](index=51&type=chunk) [Revenue](index=23&type=section&id=Revenue) Revenue for the period was approximately HK$69,600 thousand, a decrease of approximately 21.4% compared to the prior year, primarily due to the continued adverse impact of China's government centralized procurement price policies on the average selling prices of dental products Revenue (For the six months ended June 30): | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Revenue | 69,600 | 88,500 | - Revenue decreased primarily due to reduced average selling prices of dental products caused by China's government centralized procurement price policies[47](index=47&type=chunk) [Gross Profit and Gross Margin](index=23&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit for the period was approximately HK$25,200 thousand, a decrease of approximately 33.5% compared to the prior year, with gross profit margin at approximately 36.2%, a 6.6 percentage point decrease from the prior year, mainly due to lower average selling prices Gross Profit and Gross Margin (For the six months ended June 30): | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Gross Profit | 25,200 | 37,900 | | Gross Margin | 36.2% | 42.8% | - The decrease in gross profit margin was primarily due to lower average selling prices during the period[48](index=48&type=chunk) [Financial Assets at Fair Value Through Profit or Loss](index=23&type=section&id=Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) As of June 30, 2025, the fair value of financial assets at fair value through profit or loss was approximately HK$162,200 thousand, an increase of approximately 1.2% from December 31, 2024, mainly due to the increased valuation of related equity and equity-related securities invested by Zhuhai Partnership, with a fair value gain of approximately HK$9,000 thousand recorded for the period Financial Assets at Fair Value Through Profit or Loss (As at June 30): | Investee | 2025 Fair Value (HK$ Million) | 2025 Fair Value Gain/(Loss) (HK$ Million) | | :--- | :--- | :--- | | Zhuhai Jinyiming Equity Investment Fund Partnership | 119.4 | 11.0 | | Haoyi Kangyang Services (Shenzhen) Partnership | 42.8 | (2.0) | | **Total** | **162.2** | **9.0** | - Financial assets increased by approximately **1.2%**, primarily due to the increased valuation of investments by Zhuhai Partnership[51](index=51&type=chunk) - Management will review the performance of partnership investments quarterly to determine the investment approach[52](index=52&type=chunk) [Zhuhai Partnership](index=23&type=section&id=Zhuhai%20Partnership) The Group holds a 5.51% limited partnership interest in Zhuhai Partnership through contractual arrangements, with an investment cost of RMB180,000,000, and this entity specializes in equity and equity-related securities in information technology, high-quality medical, and healthcare industries - The Group holds a **5.51%** limited partnership interest in Zhuhai Partnership through contractual arrangements, with an investment cost of **RMB180,000,000**[49](index=49&type=chunk) - Zhuhai Partnership's investment portfolio focuses on information technology, high-quality medical, and healthcare industries[49](index=49&type=chunk) [Haoyi Partnership](index=24&type=section&id=Haoyi%20Partnership) After selling part of its equity in 2023, the Group lost control over Haoyi Partnership, now holding a 99.9% limited partnership interest and classifying it as a financial asset at fair value through profit or loss, with Haoyi Partnership investing in the Zhuhai Shilianjiang project through Guanghao and its subsidiaries - The Group holds a **99.9%** limited partnership interest in Haoyi Partnership, which has been classified as a financial asset at fair value through profit or loss[50](index=50&type=chunk) - Haoyi Partnership invests in the Zhuhai Shilianjiang project through Guanghao and its subsidiaries[50](index=50&type=chunk) [Material Investments, Material Acquisitions and Disposals](index=25&type=section&id=Material%20Investments%2C%20Material%20Acquisitions%20and%20Disposals) Except as disclosed in this announcement, the Group made no other material investments or material acquisitions or disposals of subsidiaries, associates, or joint ventures during the period - The Group had no other material investments, acquisitions, or disposals during the period[53](index=53&type=chunk) [Bank Balances and Cash](index=25&type=section&id=Bank%20Balances%20and%20Cash) As of June 30, 2025, the Group's bank balances and cash were approximately HK$146,900 thousand, a slight decrease from December 31, 2024, but still maintaining a robust cash level Bank Balances and Cash (As at June 30/December 31): | Indicator | June 30, 2025 (HK$ Thousand) | December 31, 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Bank Balances and Cash | 146,900 | 149,600 | - The Group maintained a robust cash level during the review period[54](index=54&type=chunk) [Capital Expenditure and Capital Commitments](index=25&type=section&id=Capital%20Expenditure%20and%20Capital%20Commitments) During the period, the Group invested approximately HK$9,300 thousand, primarily in right-of-use assets and production equipment, a significant increase from the prior year, and as of June 30, 2025, the Group had no capital expenditure commitments Capital Expenditure (For the six months ended June 30): | Indicator | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Capital Expenditure | 9,300 | 2,100 | - Capital expenditure was primarily used for right-of-use assets and production equipment[55](index=55&type=chunk) - As of June 30, 2025, the Group had no capital expenditure commitments[55](index=55&type=chunk) [Contingent Liabilities](index=25&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no contingent liabilities - As of June 30, 2025, the Group had no contingent liabilities[56](index=56&type=chunk) [Pledge of the Group's Assets](index=25&type=section&id=Pledge%20of%20the%20Group%27s%20Assets) As of June 30, 2025, none of the Group's assets were pledged to secure bank financing - As of June 30, 2025, none of the Group's assets were pledged to obtain bank financing[57](index=57&type=chunk) [Treasury Policy](index=25&type=section&id=Treasury%20Policy) The Group's sales and purchases are primarily denominated in RMB and USD, with cash mainly held in USD, RMB, and HKD, and while directors currently anticipate no significant exchange rate fluctuation risks and have not entered into hedging financial instruments, they will closely monitor foreign exchange and interest rate risks - Group sales and purchases are primarily denominated in **RMB** and **USD**, with cash mainly held in **USD**, **RMB**, and **HKD**[58](index=58&type=chunk) - Directors currently anticipate no significant exchange rate fluctuation risks and have not entered into hedging financial instruments, but will closely monitor foreign exchange and interest rate risks[58](index=58&type=chunk) [Liquidity, Capital Structure and Financial Resources](index=26&type=section&id=Liquidity%2C%20Capital%20Structure%20and%20Financial%20Resources) As of June 30, 2025, equity attributable to owners of the company was approximately HK$435,900 thousand, with net current assets of approximately HK$230,200 thousand, and liquidity and quick ratios of 4.10 and 3.89 respectively, both showing improvement and indicating ample liquidity, with no net debt, and management believes there are sufficient resources to meet obligations and fund future operational expansion Liquidity Indicators (As at June 30/December 31): | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Equity Attributable to Owners of the Company (HK$ Thousand) | 435,900 | 431,200 | | Net Current Assets (HK$ Thousand) | 230,200 | 228,000 | | Current Ratio | 4.10 | 3.71 | | Quick Ratio | 3.89 | 3.55 | - The Group has no net debt, and thus no gearing ratio is calculated[59](index=59&type=chunk) - Management believes the Group has ample resources to settle outstanding debts and fund daily operations and future expansion[60](index=60&type=chunk) [Outlook](index=26&type=section&id=Outlook) The Group will continue to focus on its core dental and healthcare businesses, aiming to enhance shareholder value by expanding sales networks, improving production capacity, developing high-end products, and seeking investment cooperation, thereby building the "Mega" and "Basic Dental" brands and forming an ecological cycle combining upstream and downstream oral care with medical and elderly care - The Group's business strategy is to further enhance shareholder value through expanded operations[61](index=61&type=chunk) - The Group aims to build the "Mega" and "Basic Dental" brands to become a high-end prosthetic consumables supplier[61](index=61&type=chunk) - The Group actively explores upstream and downstream medical device systems for oral care, and integrated medical and elderly care service systems, to form an ecological cycle[61](index=61&type=chunk) [Dental Business](index=27&type=section&id=Dental%20Business) The Group anticipates continued rapid growth in China's dental market and has formulated growth strategies including expanding domestic and international sales networks, enhancing production capacity, developing high-end new dental products, actively participating in exhibitions and public hospital tenders, and seeking investment and cooperation opportunities in high-tech dental-related fields - China's dental market is expected to maintain rapid growth, with several times its current development potential[62](index=62&type=chunk) - Growth strategies include expanding domestic and international sales networks, enhancing production capacity, developing high-end new dental products, and actively participating in exhibitions and public hospital tenders[62](index=62&type=chunk) - Continuous improvement of Basic Dental production processes, addition of automated equipment, and expansion of distribution networks are expected to lead to significant growth in the implant business[63](index=63&type=chunk) [Healthcare Business](index=27&type=section&id=Healthcare%20Business) With tightening approval and consumption management standards for Shenzhen medical insurance designated institutions, Hejia Rehabilitation Clinic, as a medical insurance designated unit, has gained more patient trust and has become Shenzhen's most widely distributed medical-grade sports rehabilitation center, further enhancing its professional influence in the industry - Hejia Rehabilitation Clinic, as a Shenzhen medical insurance designated unit, has gained more patient trust[64](index=64&type=chunk) - It has become Shenzhen's most widely distributed medical-grade sports rehabilitation center and was invited to be a理事单位 of the National Sports Rehabilitation Industry Alliance, enhancing its professional industry influence[64](index=64&type=chunk) [Significant Events After the Reporting Period](index=28&type=section&id=Significant%20Events%20After%20the%20Reporting%20Period) No significant events affecting the company have occurred since June 30, 2025, up to the date of this announcement - No significant events affecting the company have occurred after the reporting period[65](index=65&type=chunk) [Employees and Remuneration Policy](index=28&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had approximately 917 employees, with a remuneration policy based on Group and employee performance, providing benefits such as social insurance and pensions, and adopting a share option scheme for long-term incentives Employee Count: | Date | Employee Count | | :--- | :--- | | June 30, 2025 | 917 | | December 31, 2024 | 861 | - The remuneration policy is based on Group and employee performance, providing social insurance, pension, and other benefits, and adopting a share option scheme for long-term incentives[66](index=66&type=chunk) [Directors' Compliance with the Model Code for Securities Transactions](index=28&type=section&id=Directors%27%20Compliance%20with%20the%20Model%20Code%20for%20Securities%20Transactions) The company has adopted the Model Code set out in Appendix C3 of the Listing Rules and established written guidelines for employees, with all directors confirming compliance with the Model Code during the period, and no instances of non-compliance by employees were found - The company has adopted the Model Code set out in Appendix C3 of the Listing Rules and established written guidelines for employees that are no less exacting than the Model Code[67](index=67&type=chunk) - All directors have confirmed compliance with the Model Code, and no instances of non-compliance by employees were found[67](index=67&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=28&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities - Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the period[68](index=68&type=chunk) [Compliance with the Corporate Governance Code](index=28&type=section&id=Compliance%20with%20the%20Corporate%20Governance%20Code) For the six months ended June 30, 2025, the company has complied with all relevant code provisions of the Corporate Governance Code set out in Part 2 of Appendix C1 of the Listing Rules - The company has complied with all relevant code provisions of the Corporate Governance Code set out in Part 2 of Appendix C1 of the Listing Rules[69](index=69&type=chunk) [Review of Financial Information](index=29&type=section&id=Review%20of%20Financial%20Information) The company's audit committee, comprising three independent non-executive directors, has reviewed the Group's unaudited condensed consolidated interim financial statements for the six months ended June 30, 2025 - The audit committee, comprising three independent non-executive directors, has reviewed the Group's unaudited condensed consolidated interim financial statements[70](index=70&type=chunk) [Publication of 2025 Interim Results and Interim Report](index=29&type=section&id=Publication%20of%202025%20Interim%20Results%20and%20Interim%20Report) The interim results announcement has been published on the websites of Hong Kong Exchanges and Clearing Limited and the company, and the interim report will be dispatched to shareholders and published on the aforementioned websites in due course as required by the Listing Rules - The interim results announcement has been published on the Hong Kong Exchange and company websites[71](index=71&type=chunk) - The interim report will be dispatched to shareholders and published on the websites in due course as required by the Listing Rules[71](index=71&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，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。 SINOTRUK (HONG KONG) LIMITED 中 國 重 汽（ 香 港 ）有 限 公 司 （於香港註冊成立的有限公司） （股份代號：03808） 截 至 2025 年 6 月 30 日 止 6 個月中期業績公佈 業績 董事會欣然公佈本集團截至2025年6月30日止6個月之未經審核中期業績及與上年 同期之比較數字如下： 綜合損益表 截至2025年6月30日止6個月－未經審核 （除另外說明外，所有金額以人民幣千元計） | | | 截至6月30日止6個月 | | | --- | --- | --- | --- | | | 附註 | 2025年 | 2024年 | | 收入 | 4 | 50,878,062 | 48,823,239 | | 銷售成本 | | (43,216,438) | (41,664,507) | | 毛利 | | 7,661,624 | 7,158,732 | | 其他收入及利 ...

由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣 之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通 量的市場。 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。 本公告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關中國生命集團有限公司（「本公司」）的資料。本公司的董事（「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，確認就其所知及所信，本公告所載資料在各重要 方面均屬準確完備，沒有誤導或欺詐成分，且並無遺漏任何其他事項，足以令致 本公告或其所載任何陳述產生誤導。 – 1 – （股份代號：8296） （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 中期業績 截至二零二五年六月三十日止六個月 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交 所上市的公司帶 ...

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 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 之 任 何 損 失 承 擔 任 何 責 任。 （於開曼群島註冊成立的有限公司） （股份代號：368） 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 德 合 集 團 控 股 有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 未 經 審 核 簡 明 綜 合 中 期 業 績，連 同 截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月 同 期 之 比 較 數 字 如 下： Superland Group Holdings Limited 德合集團控股有限公司 ...