香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任 何部份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。 SHUOAO INTERNATIONAL HOLDINGS LIMITED 碩奧國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2336） 截至二零二五年六月三十日止六個月之 未經審核綜合中期業績公告 碩奧國際控股有限公司（「本公司」）董事會（「董事會」）謹此公告本公司及其附屬公 司（統稱為「本集團」）截至二零二五年六月三十日止六個月之未經審核綜合中期業 績，連同比較數字載列如下： 簡明綜合損益表－未經審核 截至二零二五年六月三十日止六個月 | | | 截至六月三十日止六個月 二零二五年 | | | --- | --- | --- | --- | | | 附註 | | 二零二四年 | | | | 千港元 | 千港元 | | 收益 | 3 | 77,209 | 66,207 | | 銷售成本 | | (69,757) | (59,531) | | 毛利 | | 7,452 | 6,676 ...

1 | 經選定財務比率 | | | | --- | --- | --- | | | 截至六月三十日止六個月 | | | | 二零二五年 | 二零二四年 | | | （概約） | （概約） | | 毛利率 | 12.1% | 10.3% | | 淨虧損率(1) | (5.7%) | (17.8%) | | | 於 | 於 | | | 二零二五年 | 二零二四年 | | | 六月三十日 | 十二月三十一日 | | | （概約） | （概約） | | 流動比率 （倍） | 1.0 | 1.0 | | 資本負債比率(2) | 33.4% | 33.7% | | 總資產回報(3) | (2.1%) | (8.9%) | | 總權益回報(3) | (6.9%) | (26.5%) | | (1) | 按期內虧損除以收入計算。 | | | (2) | 按計息銀行及其他借款以及應付承兌票據總和除以總資產計算。 | | | (3) | 按期內虧損除以總資產或總權益之平均餘額計算。 | | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或 ...

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。 IGG Inc（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司及其附屬公司截至 二零二五年六月三十日止六個月未經審計業績。本公告列載本公司二零二五年中期 報告全文，並符合香港聯合交易所有限公司（「聯交所」）證券上市規則中有關中期業 績初步公告附載的資料之相關要求。 本業績公告的中英文版本可在本公司網站(www.igg.com)和聯交所網站(www.hkex.com.hk) 查閱。 本公司二零二五年中期報告將於適當時候刊載於本公司網站(www.igg.com)及聯交所 網站(www.hkex.com.hk)並寄發予本公司股東。 承董事會命 IGG INC 主席 蔡宗建 香港，二零二五年八月二十七日 IGG INC （於開曼群島註冊成立的有限公司） （股份代號：799） 截至二零二五年六月三十日止六個月的 中期業績公告 於本公告日期，董事會包括五名執行董事，即蔡宗建先生、許元先生、張竑先生、 沈 ...

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。 Feiyu Technology International Company Ltd. 飛魚科技國際有限公司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：1022） 截至二零二五年六月三十日止六個月的 中期業績公告 董事會欣然宣佈本集團截至二零二五年六月三十日止六個月的未經審核綜合 中期業績（「中期業績」），連 同 二 零 二 四 年 同 期 的 比 較 數 字。 財務表現摘要 | 截至六月三十日止六個月 | | --- | | 二零二五年 | 二零二四年 | 變 | 動% | 幣 | （人 | 幣 | 元） | （人 | 千 | 千 | 民 | 民 | 元） | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

Announcement Background and Purpose Brii Biosciences Limited issues a supplemental announcement to provide additional details on the use of net proceeds from its global offering in the 2024 annual report, specifically regarding unutilized funds carried forward to January 1, 2024 - This announcement supplements the 2024 annual report, focusing on the use of net proceeds from the global offering[2](index=2&type=chunk) - It highlights the specific amount of **unutilized net proceeds** as of December 31, 2023, carried forward to January 1, 2024[2](index=2&type=chunk) [Details on Use of Net Proceeds from Global Offering](index=2&type=section&id=%E5%85%A8%E7%90%83%E7%99%BC%E5%94%AE%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%AD%E6%B7%A8%E9%A1%8D%E7%94%A8%E9%80%94%E8%A9%B3%E6%83%85) This section details the original and revised uses of the company's global offering net proceeds, utilized amounts as of December 31, 2024, and unutilized funds carried forward from December 31, 2023, to January 1, 2024, covering various R&D projects and working capital - As of December 31, 2024, a total of **HKD 25.256 million** of net proceeds from the global offering has been utilized (**HKD 9.941 million** from Group 1 allocation and **HKD 15.315 million** from Group 2 allocation)[3](index=3&type=chunk)[4](index=4&type=chunk) - As of December 31, 2024, **HKD 1.760 million** remains unutilized, primarily allocated to Group 1 R&D projects and working capital[3](index=3&type=chunk) [Unutilized Net Proceeds as of December 31, 2023, Carried Forward to January 1, 2024](index=2&type=section&id=2.1%20%E6%88%AA%E8%87%B32023%E5%B9%B412%E6%9C%8831%E6%97%A5%E6%9C%AA%E5%8B%95%E7%94%A8%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%AD%E6%B7%A8%E9%A1%8D%E7%B5%90%E8%BD%89%E8%87%B32024%E5%B9%B41%E6%9C%881%E6%97%A5) As of December 31, 2023, **HKD 14.666 million** of the company's global offering net proceeds remained unutilized and was carried forward to January 1, 2024, primarily for R&D projects like BRII-179, BRII-877, and working capital Unutilized Net Proceeds as of December 31, 2023, Carried Forward to January 1, 2024 (Million HKD) | Project | Original Proposed Use (Million HKD) | Revised Proposed Use (Million HKD) | Unutilized Net Proceeds (Million HKD) | Percentage of Original Total Net Proceeds (%) | | :------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------- | | BRII-179 | 11.959 | 11.959 | 7.848 | 46% | | BRII-732 | 1.307 | 1.307 | 1.400 | 5% | | BRII-835 | 0.261 | 0.261 | 1.307 | 5% | | BRII-877 | 14.666 | 14.666 | 5.141 | 56% | | BRII-753 | 1.400 | 1.400 | 1.400 | 6% | | Other R&D Projects | 1.517 | 1.517 | 1.517 | 32% | | Working Capital and Other General Corporate Purposes | 8.373 | 8.373 | 11.959 | 1% | | **Total** | **26.138** | **26.138** | **14.666** | **100%** | [Overview of Net Proceeds Utilization as of December 31, 2024](index=2&type=section&id=2.2%20%E6%88%AA%E8%87%B32024%E5%B9%B412%E6%9C%8831%E6%97%A5%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%AD%E6%B7%A8%E9%A1%8D%E7%94%A8%E9%80%94%E6%A6%82%E8%A7%88) As of December 31, 2024, a total of **HKD 25.256 million** from the global offering net proceeds has been utilized (**HKD 9.941 million** from Group 1 and **HKD 15.315 million** from Group 2), with **HKD 1.760 million** remaining unutilized, primarily in Group 1 R&D projects and working capital [Utilization of Group 1 Allocated Funds](index=2&type=section&id=2.2.1%20%E7%AC%AC%E4%B8%80%E7%BB%84%E5%88%86%E9%85%8D%E7%9A%84%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) Of the **HKD 26.138 million** net proceeds from the global offering allocated to Group 1, **HKD 9.941 million** was utilized as of December 31, 2024, primarily for R&D projects like BRII-179, BRII-877, and working capital, with **HKD 1.760 million** remaining unutilized Utilization of Group 1 Allocated Funds as of December 31, 2024 (Million HKD) | Project/Purpose | Original Proposed Use (Million HKD) | Revised Proposed Use (Million HKD) | Funds Utilized (Million HKD) | Unutilized Net Proceeds as of 2024-12-31 (Million HKD) | | :--------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :----------------------------------------------------------------- | | BRII-179 | 11.959 | 11.959 | 6.818 | 1.555 | | BRII-732 | 1.307 | 1.307 | 1.517 | 1.307 | | BRII-835 | 0.261 | 0.261 | 0.243 | 0.261 | | BRII-877 | 14.666 | 14.666 | 3.123 | 1.825 | | BRII-753 | 1.400 | 1.400 | 1.825 | 0.053 | | Other R&D Projects | 1.517 | 1.517 | 4.948 | 3.380 | | Working Capital and Other General Corporate Purposes | 8.373 | 8.373 | 0.296 | 0.261 | | **Total** | **26.138** | **26.138** | **9.941** | **1.760** | [Utilization of Group 2 Allocated Funds](index=3&type=section&id=2.2.2%20%E7%AC%AC%E4%BA%8C%E7%BB%84%E5%88%86%E9%85%8D%E7%9A%84%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) The **HKD 15.315 million** net proceeds from the global offering allocated to Group 2 were fully utilized as of December 31, 2024, primarily for R&D projects like BRII-297, BRII-636, and working capital, with no unutilized balance Utilization of Group 2 Allocated Funds as of December 31, 2024 (Million HKD) | Project/Purpose | Original Proposed Use (Million HKD) | Revised Proposed Use (Million HKD) | Funds Utilized (Million HKD) | Unutilized Net Proceeds as of 2024-12-31 (Million HKD) | | :--------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :----------------------------------------------------------------- | | BRII-297 | 0.675 | 0.675 | 0.675 | 0 | | BRII-636 | 0.590 | 0.590 | 0.590 | 0 | | BRII-672 | 0.085 | 0.085 | 0.085 | 0 | | BRII-296 | 2.746 | 2.746 | 2.746 | 0 | | BRII-693 | 3.920 | 3.920 | 3.920 | 0 | | Other R&D Projects | 2.614 | 2.614 | 2.614 | 0 | | Working Capital and Other General Corporate Purposes | 26.138 | 26.138 | 26.138 | 0 | | **Total** | **15.315** | **15.315** | **15.315** | **0** | [Other Information and Board Statement](index=4&type=section&id=%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF%E4%B8%8E%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%A3%B0%E6%98%8E) The additional information disclosed in this supplemental announcement does not affect other content in the 2024 annual report, with all other information remaining unchanged, and includes details on the company's board members - The additional information in this supplemental announcement does not affect other information in the 2024 annual report[5](index=5&type=chunk) - Board members include Executive Directors Dr Zhi Hong and Dr Li Ankang, along with several Independent Non-executive Directors[6](index=6&type=chunk)

[Financial Summary](index=1&type=section&id=Financial%20Summary) Pan-Asia Environmental Group reported a decline in revenue, gross profit, and profit attributable to owners for the six months ended June 30, 2025 Financial Summary for the Six Months Ended June 30 | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 113,340 | 115,410 | -2% | | Gross Profit | 15,316 | 17,855 | -14% | | Profit for the Period Attributable to Owners of the Company | 4,718 | 6,389 | -26% | | Earnings Per Share (RMB cents) | 0.48 | 0.66 | -27% | [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the Group's condensed consolidated financial statements, showing declines in income and profit, with a slight increase in total equity [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's revenue and gross profit declined, with profit for the period decreasing by 33.1% due to the absence of certain gains and losses from the prior year Key Data from Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 113,340 | 115,410 | -2% | | Cost of Sales | (98,024) | (97,555) | 0.5% | | Gross Profit | 15,316 | 17,855 | -14.2% | | Net Other Income | 1,264 | 3,040 | -58.4% | | Net Other Gains | 2,193 | 889 | 146.7% | | Impairment Loss on Cryptocurrencies | – | (6,988) | N/A | | Fair Value Gain on Financial Liabilities at Fair Value Through Profit or Loss | – | 7,609 | N/A | | Finance Costs | (160) | (845) | -81.1% | | Profit Before Tax | 8,931 | 11,954 | -25.3% | | Income Tax Expense | (4,213) | (4,896) | -14.0% | | Profit for the Period | 4,718 | 7,058 | -33.1% | | Profit for the Period Attributable to Owners of the Company | 4,718 | 6,389 | -26.2% | | Basic and Diluted Earnings Per Share (RMB cents) | 0.48 | 0.66 | -27.3% | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group saw decreases in non-current assets and current liabilities, a slight increase in net current assets, and stable cash balances Key Data from Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Assets | 2,409 | 6,129 | -60.6% | | Current Assets | 1,301,651 | 1,309,769 | -0.6% | | Current Liabilities | 132,617 | 149,999 | -11.6% | | Net Current Assets | 1,169,034 | 1,159,770 | 0.8% | | Total Assets Less Current Liabilities | 1,171,443 | 1,165,899 | 0.5% | | Non-current Liabilities | 332 | 1,017 | -67.3% | | Net Assets | 1,171,111 | 1,164,882 | 0.5% | | Total Equity | 1,171,111 | 1,164,882 | 0.5% | | Cash and Bank Balances | 1,264,950 | 1,256,898 | 0.6% | [Notes to the Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section details the basis of preparation, significant accounting judgments, revenue, segment reporting, and other key financial statement items for the Group's operations [1. General Information](index=6&type=section&id=1.%20General%20Information) Pan-Asia Environmental Group Limited, incorporated in the Cayman Islands and listed on the Stock Exchange, focuses on environmental products, engineering, and investment holding - The company is incorporated in the Cayman Islands, with shares listed on the Stock Exchange[7](index=7&type=chunk) - The Group primarily engages in the sale of environmental protection products and equipment, environmental construction engineering services in China, and investment holding[8](index=8&type=chunk) [2. Basis of Preparation](index=6&type=section&id=2.%20Basis%20of%20Preparation) The condensed consolidated financial statements are prepared in RMB under HKAS 34 and Listing Rules, with consistent accounting policies and no significant impact from new standards [2(a) Statement of Compliance](index=6&type=section&id=2(a)%20Statement%20of%20Compliance) The condensed consolidated financial statements are prepared in RMB, adhering to HKAS 34 and the Stock Exchange Listing Rules' disclosure requirements - The condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 and the Listing Rules of the Stock Exchange[9](index=9&type=chunk) - The Group's functional currency is HKD, but the condensed consolidated financial statements are presented in RMB, as most transactions are denominated in RMB[9](index=9&type=chunk) [2(b) Significant Accounting Policies Information](index=6&type=section&id=2(b)%20Significant%20Accounting%20Policies%20Information) Accounting policies are consistent with 2024, and newly adopted or issued standards are not expected to significantly impact the Group's financial position or performance - Accounting policies are consistent with the 2024 annual consolidated financial statements, and revised standards effective January 1, 2025, have been adopted with no significant impact expected[10](index=10&type=chunk)[11](index=11&type=chunk) - New and revised standards issued but not yet effective (e.g., HKFRS 9, 18, 19) are not expected to have a significant impact on the Group's financial position and performance[12](index=12&type=chunk)[13](index=13&type=chunk) [3. Significant Accounting Judgments and Key Sources of Estimation Uncertainty](index=7&type=section&id=3.%20Significant%20Accounting%20Judgments%20and%20Key%20Sources%20of%20Estimation%20Uncertainty) This section outlines significant accounting judgments and estimation uncertainties, including impairment, warranty, income tax, and withholding tax, based on historical data and economic forecasts [3(a) Key Sources of Estimation Uncertainty](index=7&type=section&id=3(a)%20Key%20Sources%20of%20Estimation%20Uncertainty) Impairment estimates for trade receivables and contract assets involve judgment based on credit loss experience and economic forecasts, with no warranty provisions due to supplier coverage - Impairment estimates for trade receivables and contract assets are based on expected credit losses, requiring estimation and judgment, considering past experience and economic conditions[14](index=14&type=chunk)[15](index=15&type=chunk) - The Group has not made provisions for product warranties on environmental protection products and equipment due to supplier warranties and insignificant recent claims experience[16](index=16&type=chunk) [3(b) Significant Accounting Judgments Made in Applying the Group's Accounting Policies](index=8&type=section&id=3(b)%20Significant%20Accounting%20Judgments%20Made%20in%20Applying%20the%20Group's%20Accounting%20Policies) Significant accounting judgments include income tax provisions, assessing final tax determinations, and withholding tax on Chinese subsidiaries' distributable profits, where dividend distribution is deemed unlikely - Income tax provisions involve significant judgment regarding final tax determinations due to transaction and calculation complexities, leading to uncertainty[18](index=18&type=chunk) - The Group judges that the likelihood of its Chinese subsidiaries distributing dividends in the foreseeable future is extremely low, thus no provision for withholding tax on dividend distribution has been made[19](index=19&type=chunk) [4. Revenue and Segment Reporting](index=9&type=section&id=4.%20Revenue%20and%20Segment%20Reporting) This section details revenue sources and segment reporting, with revenue primarily from environmental products and equipment sales, and all segments located in China [4(a) Revenue](index=9&type=section&id=4(a)%20Revenue) Group revenue, excluding sales taxes, is entirely from goods sales, specifically water treatment and flue gas treatment products, with no environmental engineering service revenue Revenue Disaggregation from Contracts with Customers | Type of Goods or Services | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Water Treatment Products and Equipment | 84,270 | 84,920 | | Flue Gas Treatment Products and Equipment | 29,070 | 30,490 | | **Total** | **113,340** | **115,410** | | Timing of Revenue Recognition (at a point in time) | 113,340 | 115,410 | [4(b) Segment Reporting](index=9&type=section&id=4(b)%20Segment%20Reporting) The Group manages two China-based segments, environmental products and engineering, assessing performance via Adjusted EBITDA, with only the product segment generating revenue - The Group's operating and reportable segments are classified as (i) environmental protection products and equipment and (ii) environmental construction engineering services, all located in China[23](index=23&type=chunk) - Segment profit is assessed using the **Adjusted EBITDA** method, representing earnings before interest, tax, depreciation, and amortization, adjusted for items not allocated to individual segments[25](index=25&type=chunk) Reportable Segment Revenue and Profit (Adjusted EBITDA) | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Environmental Protection Products and Equipment Segment Revenue | 113,340 | 115,410 | | Environmental Construction Engineering Services Segment Revenue | – | – | | **Total Reportable Segment Revenue** | **113,340** | **115,410** | | Environmental Protection Products and Equipment Segment Profit (Adjusted EBITDA) | 18,627 | 17,941 | | Environmental Construction Engineering Services Segment Profit (Adjusted EBITDA) | – | – | - Revenue from external customers is entirely derived from China[29](index=29&type=chunk)[30](index=30&type=chunk) [5. Net Other Income](index=12&type=section&id=5.%20Net%20Other%20Income) Net other income significantly decreased by 58.4% to RMB 1,264 thousand, mainly due to the absence of agency fees and distributed storage solution income Details of Net Other Income | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Bank Interest Income | 1,264 | 1,257 | 0.6% | | Agency Fee Income | – | 1,708 | -100% | | Net Income from Providing Distributed Disaster Recovery Storage Solutions | – | 75 | -100% | | **Total** | **1,264** | **3,040** | -58.4% | [6. Profit Before Tax](index=12&type=section&id=6.%20Profit%20Before%20Tax) Profit before tax decreased by 25.3% to RMB 8,931 thousand, influenced by significantly lower finance costs and the absence of prior-year cryptocurrency and financial liability fair value items Major Items Affecting Profit Before Tax | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Finance Costs | 160 | 845 | -81.1% | | Cost of Inventories | 98,024 | 97,555 | 0.5% | | Depreciation | 1,734 | 369 | 370% | | Net Impairment Loss on Trade Receivables | (1,662) | (976) | 70.3% | | Net Impairment Loss on Contract Assets | (955) | 85 | N/A | | Impairment Loss on Cryptocurrencies | – | 6,988 | N/A | | Fair Value Gain on Financial Liabilities at Fair Value Through Profit or Loss | – | (7,609) | N/A | [7. Income Tax Expense](index=13&type=section&id=7.%20Income%20Tax%20Expense) Income tax expense decreased by 14% to RMB 4,213 thousand, with China corporate income tax at 25% and a 10% withholding tax on Chinese subsidiaries' profit distributions Details of Income Tax Expense | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Current Period Provision | 3,205 | 4,674 | -31.5% | | Deferred Tax | 1,008 | 222 | 354.1% | | **Total** | **4,213** | **4,896** | -14.0% | - China corporate income tax is calculated at a **25%** rate, and Chinese subsidiaries distributing profits to overseas shareholders are subject to a **10%** withholding tax[33](index=33&type=chunk)[34](index=34&type=chunk) [8. Earnings Per Share](index=13&type=section&id=8.%20Earnings%20Per%20Share) Basic and diluted earnings per share decreased by 27.3% to RMB 0.48 cents, with no difference between basic and diluted due to the absence of dilutive shares Earnings Per Share Calculation Data | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Profit for the Period Attributable to Owners of the Company | 4,718 | 6,389 | | Weighted Average Number of Ordinary Shares | 990,000,000 | 972,479,784 | - Diluted earnings per share are the same as basic earnings per share, as there were no potentially dilutive ordinary shares outstanding in both the current and prior periods[37](index=37&type=chunk) [9. Dividends](index=14&type=section&id=9.%20Dividends) The Board does not recommend an interim dividend for the six months ended June 30, 2025, to conserve capital for business development - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (2024: nil), to reserve capital for the Group's business development[38](index=38&type=chunk) [10. Right-of-Use Assets and Property, Plant and Equipment](index=14&type=section&id=10.%20Right-of-Use%20Assets%20and%20Property%2C%20Plant%20and%20Equipment) The Group had no new right-of-use assets or property, plant and equipment acquisitions in the current period, unlike the prior year - For the six months ended June 30, 2025, the Group had no additions to right-of-use assets or acquisitions of property, plant and equipment[39](index=39&type=chunk) - For the six months ended June 30, 2024, the Group added approximately **RMB 977 thousand** in right-of-use assets and approximately **RMB 201 thousand** in property, plant and equipment[39](index=39&type=chunk) [11. Trade and Other Receivables](index=14&type=section&id=11.%20Trade%20and%20Other%20Receivables) Total trade and other receivables decreased by 30.5% to RMB 36,701 thousand, driven by lower net trade receivables, while contract assets slightly increased Details of Trade and Other Receivables | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Trade Receivables | 9,532 | 26,186 | -63.6% | | Net Contract Assets | 26,989 | 26,367 | 2.4% | | Prepayments and Deposits | 169 | 307 | -45.0% | | Other Recoverable Taxes | 11 | 11 | 0% | | **Total** | **36,701** | **52,871** | -30.5% | - The Group generally grants trade customers credit terms of **0 to 180 days** and monitors overdue amounts[40](index=40&type=chunk)[41](index=41&type=chunk) [12. Trade and Other Payables](index=15&type=section&id=12.%20Trade%20and%20Other%20Payables) Total trade and other payables decreased by 7.2% to RMB 130,582 thousand, with a notable decrease in trade payables and an increase in amounts due to the controlling party Details of Trade and Other Payables | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Trade Payables | 40,243 | 56,013 | -28.1% | | Accruals and Other Payables | 13,829 | 12,250 | 12.9% | | Amounts Due to the Company's Direct and Ultimate Controlling Party | 76,510 | 72,454 | 5.6% | | **Total** | **130,582** | **140,717** | -7.2% | - Amounts due to the company's direct and ultimate controlling party, Praise Fortune Limited, are unsecured, interest-free, and repayable on demand[42](index=42&type=chunk) [13. Share Capital](index=16&type=section&id=13.%20Share%20Capital) As of June 30, 2025, issued share capital was 990,000 thousand shares, including new shares issued in 2024 to capitalize RMB 11,806 thousand in debt Changes in Share Capital | Item | Number of Shares (thousand shares) | Amount (RMB thousands) | | :--- | :--- | :--- | | As at December 31, 2023 and January 1, 2024 | 928,679 | 86,149 | | Issue of New Shares (February 22, 2024) | 61,321 | 5,569 | | As at December 31, 2024 and June 30, 2025 | 990,000 | 91,718 | - On February 22, 2024, the company settled **RMB 11,806 thousand** in debt by issuing **61,320,755** ordinary shares[44](index=44&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews China's environmental industry trends, the Group's financial performance decline due to product sales, and future strategies focusing on AI integration and national alignment for growth [Industry and Business Review](index=17&type=section&id=Industry%20and%20Business%20Review) China's environmental industry is integrating green and digital technologies with AI, making smart solutions mandatory; the Group has four projects totaling RMB 82.3 million expected by year-end - China's environmental protection industry is guided by "high-quality development" and "new productive forces" strategies, deeply integrating green and digital technologies[45](index=45&type=chunk) - The deep integration of Artificial Intelligence (AI) technology with environmental engineering has become a core competency, with smart water platforms and AI energy-saving control systems being mandatory requirements for project bidding[45](index=45&type=chunk) - As of June 30, 2025, the Group has four projects on hand with a total engineering value of **RMB 82.3 million** yet to be completed, expected by the end of 2025[46](index=46&type=chunk) [Financial Review](index=17&type=section&id=Financial%20Review) Total revenue decreased by 1.8% to RMB 113.3 million, gross profit fell by 14.2% to RMB 15.3 million, and profit attributable to owners decreased by 26.2% to RMB 4.7 million Summary of Financial Review for H1 2025 | Metric | H1 2025 (RMB millions) | H1 2024 (RMB millions) | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 113.3 | 115.4 | -1.8% | | Gross Profit | 15.3 | 17.855 | -14.2% | | Gross Profit Margin | 13.5% | 15.5% | -2.0pp | | Profit Attributable to Owners of the Company | 4.7 | 6.4 | -26.2% | | Basic and Diluted Earnings Per Share (RMB cents) | 0.48 | 0.66 | -27.3% | - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025, to reserve capital for the Group's business development[48](index=48&type=chunk) [Outlook](index=18&type=section&id=Outlook) The Group anticipates new opportunities from AI, digitalization, and green transformation, focusing on AI-empowered core business, diversified investments, and national alignment for sustained growth - The global economy is evolving driven by AI, digitalization, and green transformation, bringing opportunities for industrial upgrading and business model innovation[49](index=49&type=chunk) - The Group will focus on deepening its core business (leveraging AI empowerment), expanding diversified layouts (investing in the "AI+" industry chain), strengthening synergistic cooperation, and aligning with national plans to achieve sustained business growth and value enhancement[50](index=50&type=chunk)[51](index=51&type=chunk) [Exposure to Exchange Rate Fluctuations](index=19&type=section&id=Exposure%20to%20Exchange%20Rate%20Fluctuations) The Group's transactions, liabilities, and bank deposits are primarily in RMB and HKD, with no foreign currency hedging instruments held as of June 30, 2025 - The vast majority of the Group's operating transactions and liabilities are denominated in RMB and HKD, with bank deposits also primarily in RMB and HKD[53](index=53&type=chunk) - As of June 30, 2025, the Group held no foreign currency bank liabilities, foreign exchange contracts, interest or currency swaps, or other financial derivative instruments for hedging purposes[53](index=53&type=chunk) [Capital Commitments and Contingent Liabilities](index=19&type=section&id=Capital%20Commitments%20and%20Contingent%20Liabilities) As of June 30, 2025, the Group had no capital expenditure commitments and believes its product warranty liabilities are not significant due to supplier coverage - As of June 30, 2025, the Group had no capital expenditure commitments for the acquisition of property, plant and equipment[54](index=54&type=chunk) - The Group provides product warranty services to customers (six months to two years) and benefits from supplier warranty services, with Directors believing period-end warranty liabilities are not significant[54](index=54&type=chunk) [Pledge of Assets](index=19&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group had no pledge of assets, consistent with the prior year-end - As of June 30, 2025, the Group had no pledge of assets[55](index=55&type=chunk) [Other Information](index=20&type=section&id=Other%20Information) This section covers employee relations, listed securities transactions, audit committee review, corporate governance practices, and interim results publication, noting a deviation in board meeting frequency [Relationship with Employees and Key Stakeholders](index=20&type=section&id=Relationship%20with%20Employees%20and%20Key%20Stakeholders) The Group employed 90 employees, with total staff costs of RMB 6.5 million, and maintains good employee relations through competitive remuneration and training - As of June 30, 2025, the Group employed **90 employees**[56](index=56&type=chunk) Total Staff Costs | Period | Total Staff Costs (RMB thousands) | | :--- | :--- | | For the six months ended June 30, 2025 | 6,500 | | For the six months ended June 30, 2024 | 9,900 | [Purchase, Sale or Redemption of the Company's Listed Securities](index=20&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities during the six months ended June 30, 2025 - For 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[57](index=57&type=chunk) [Audit Committee Review](index=20&type=section&id=Audit%20Committee%20Review) The Audit Committee, composed of three independent non-executive directors, reviewed the Group's interim results and is responsible for financial reporting and internal controls - The Audit Committee, comprising three independent non-executive directors, has reviewed the Group's interim results and report for the six months ended June 30, 2025[58](index=58&type=chunk) [Corporate Governance](index=20&type=section&id=Corporate%20Governance) The Board is committed to high corporate governance, with a deviation from the code regarding board meeting frequency, but directors confirm compliance with securities dealing rules [At Least Four Regular Board Meetings Annually](index=20&type=section&id=At%20Least%20Four%20Regular%20Board%20Meetings%20Annually) The company deviates from Code Provision C.5.1 by holding only two board meetings annually, citing no quarterly results publication as the reason - The company has not complied with Corporate Governance Code Provision C.5.1, holding only two board meetings annually instead of at least four, as it does not publish quarterly results[59](index=59&type=chunk)[60](index=60&type=chunk) [Directors' Securities Transactions](index=21&type=section&id=Directors'%20Securities%20Transactions) The company adopted a strict securities dealing code, which directors confirmed compliance with, and no employees with inside information breached it - The company has adopted a strict code for securities dealing, which Directors confirmed compliance with during the period[61](index=61&type=chunk) - The code also applies to all employees who may possess inside information, and to the company's knowledge, no employees have breached it[61](index=61&type=chunk) [Publication of Interim Results and Interim Report](index=21&type=section&id=Publication%20of%20Interim%20Results%20and%20Interim%20Report) The interim results announcement is published on HKEX and company websites, with the full interim report to be despatched to shareholders and published online - 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 despatched to shareholders and published on the aforementioned websites in due course[62](index=62&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。 Qingci Games Inc. 青瓷游戲有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6633） 截 至 2025 年 6 月 3 0 日止六個月之 中期業績公告 青 瓷 遊 戲 有限公司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 綜合財務業績，連同截至2024年6月30日止六個月的比較數字，呈列如下。 本集團截至2025年6月30日止六個月的中期業績已由審核委員會及本公司獨立核數 師 香 港 立 信 德 豪 會 計 師 事 務 所 有 限 公 司 根 據 國 際 審 計 及 保 證 準 則 委 員 會 刊 發 的《國 際審閱準則第2410號》「實 體 的 獨 立 核 數 師 對 中 期 財 務 資 料 的 審 閱」審 閱。 財務摘要 截 至6月30日止六個月 | | 2025年 | 2024年 | 變 動 | | --- | --- | --- | --- | | | ...

公司簡介 主席兼執行董事 林向紅女士 執行董事 惠理成立於一九九三年，是亞洲具影響力的獨立資產管理公司之一，為全球機構和個人客戶提供世界級 的投資服務和產品。惠理於亞洲以及環球市場一直堅持價值投資原則，旗下的投資策略覆蓋股票、固定 收益、另類投資、多元資產及量化投資。集團總部位於香港，主要業務遍布香港、上海及新加坡。 惠理於二零零七年十一月成為首家在香港聯合交易所（股份代號：806 HK）主板上巿的資產管理公司。 | 目錄 | 公司資料 | 2 | | --- | --- | --- | | | 財務摘要 | 3 | | | 管理層討論及分析 | 4 | | | 財務回顧 | 9 | | | 獨立審閱報告 | 15 | | | 中期簡明合併財務資料 | 16 | | | 中期簡明合併財務資料附註 | 20 | | | 其他資料 | 42 | 本中期報告之中英文內容如有歧異，概以英文版本為準。 1 惠理集團有限公司 二零二五年中期報告 公司資料 董事會 李謙先生 吳祝花女士 榮譽主席兼非執行董事 拿督斯里謝清海 獨立非執行董事 陳世達博士 李惟宏先生 黃寶榮先生 公司秘書 張廣志先生 授權代表 張廣志先生 吳祝 ...

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之任何損失承擔任何責任。 PACIFIC ONLINE LIMITED 太平洋網絡有限公司 （於開曼群島註冊成立之有限公司） （股份代號：543） 截至二零二五年六月三十日止六個月 中期業績公告 太平洋網絡有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（統稱為「本 集團」）截至二零二五年六月三十日止六個月的未經審核簡明綜合業績，連同上一年度相 應期間的比較數字如下： 簡明綜合中期收益表 截至二零二五年六月三十日止六個月 | | | 未經審核 | | | --- | --- | --- | --- | | | | 截至六月三十日止六個月 | | | | | 二零二五年 | 二零二四年 | | | 附註 | 人民幣千元 | 人民幣千元 | | 收入 | 4 | 272,860 | 276,378 | | 收入成本 | | (192,464) | (170,936) | | 毛利 | | 80,396 | 105,4 ...

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 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 之 任 何 損 失 承 擔 任 何 責 任。 香港科技探索有限公司 Hong Kong Technology Venture Company Limited （股份代號：1137） （根據公司條例於香港註冊成立之有限公司） 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 集 團 財 務 摘 要 香 港 電 子 商 貿 業 務 摘 要 新 探 索 及 科 技 業 務 摘 要 – 1 – 1. 二 零 二 五 年 對 香 港 零 售 業 而 言 仍 然 是 充 滿 挑 戰 的 一 年。本 集 團 香 港 電 子 商 貿 業 務採取審慎策略，以降低對銷售表現的影響，並提升成本效益，儘管面臨不利條件， 但 本 集 團 香 港 電 子 商 貿 ...