Financial Performance - The company's operating revenue for the first half of the year reached RMB 212,091,238 thousand, representing a year-on-year increase of 9.18% compared to RMB 194,261,759 thousand in the same period last year[29]. - The total profit for the reporting period was RMB 6,562,291 thousand, up 5.49% from RMB 6,220,555 thousand in the previous year[29]. - The net profit attributable to shareholders of the listed company was RMB 2,801,838 thousand, a slight increase of 0.72% from RMB 2,781,881 thousand year-on-year[29]. - The net cash flow from operating activities was negative at RMB -13,400,893 thousand, an improvement from RMB -14,514,997 thousand in the previous year[29]. - The total assets at the end of the reporting period were RMB 938,735,064 thousand, reflecting an 8.02% increase from RMB 869,004,776 thousand at the end of the previous year[29]. - The net assets attributable to shareholders of the listed company increased to RMB 117,990,852 thousand, a growth of 1.71% from RMB 116,011,181 thousand[29]. - The basic earnings per share remained stable at RMB 0.063, while the diluted earnings per share also stood at RMB 0.063[30]. - The weighted average return on net assets decreased by 0.15 percentage points to 2.41% compared to the previous year[30]. - The company reported non-recurring gains and losses totaling RMB 280,455 thousand, after accounting for tax effects and minority interests[34]. Strategic Initiatives - The company is committed to innovation and green development, aligning with its strategic goals for the future[1]. - The company aims to establish a "Four New" alliance focusing on new energy, new infrastructure, new industries, and new materials, initiated in November 2023[21]. - The "1466" strategy emphasizes becoming a world-class energy integration solution provider and enhancing core competitiveness through six major breakthroughs[21]. - The company reported a significant focus on green and low-carbon transformation, aligning with national energy revolution goals[21]. - The establishment of a new energy international investment alliance in June 2018 aims to enhance China's influence in the global clean energy sector[21]. - The company is actively involved in the supply chain alliance to improve management efficiency and resource stability in the construction industry[21]. - The new energy storage alliance, launched in November 2023, aims to innovate and lead the industry in energy storage technology[21]. - The company is committed to digital intelligence and shared integration as part of its transformation strategy[21]. - The focus on public-private partnerships (PPP) aims to enhance public service efficiency through collaboration with social capital[21]. - The company is dedicated to promoting the integration of energy networks, transportation networks, and digital networks to support sustainable development[21]. - The company emphasizes the importance of technological innovation and resource sharing to drive high-quality development in the energy sector[21]. Market and Industry Trends - The company operates in a stable economic environment, with China's GDP growing by 5.3% year-on-year in the first half of 2025, indicating a positive outlook for the industry[38]. - In the first half of 2025, new installed capacity for wind power reached 51.39 million kW, solar power 212 million kW, and biomass power 710,000 kW, with year-on-year growth of 22.7%, 54.2%, and 3% respectively[40]. - The total investment in the hydrogen energy sector in the first half of 2025 was approximately RMB 230.4 billion, a year-on-year decrease of 40.2%[40]. - New energy storage capacity reached 94.91 million kW (222 million kWh) in the first half of 2025, an increase of about 29% compared to the end of 2024[41]. - The total investment in national power engineering in the first half of 2025 was RMB 363.5 billion, a year-on-year increase of 5.9%[43]. - The total investment in the national grid engineering was RMB 291.1 billion, a year-on-year increase of 14.6%[43]. - In the first half of 2025, the total cross-regional electricity transmission reached 436.6 billion kWh, a year-on-year increase of 11.8%[43]. - The total investment in water conservancy construction in the first half of 2025 was RMB 532.9 billion, with 34,400 water projects implemented[45]. Corporate Governance and Compliance - The report complies with the disclosure requirements of the Shanghai and Hong Kong stock exchanges[10]. - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[8]. - There are no instances of non-operational fund occupation by controlling shareholders or related parties reported[9]. - The company has not violated decision-making procedures in providing guarantees[9]. - The company has conducted related party transactions in compliance with the Hong Kong Listing Rules and Shanghai Stock Exchange Listing Rules[155]. - The company guarantees that all assets are under its control and will not illegally occupy funds or assets[152]. - The company has committed to independent financial decision-making and tax obligations[152]. - The company has outlined plans for future compliance with new regulations from the China Securities Regulatory Commission regarding performance compensation measures[151]. Investment and Financing Activities - The company plans to raise up to RMB 9 billion through a private placement to invest in multiple renewable energy projects, including a 300 MW compressed air energy storage project in Hubei[119]. - The company completed external investments totaling RMB 41.2 billion during the reporting period, with RMB 15.3 billion allocated to new energy and integrated smart energy businesses[96]. - The company signed new contracts worth RMB 174.1 billion in the surveying, design, and consulting business in the first half of 2025, reflecting a year-on-year growth of 52.1%[50]. - The engineering construction business of the company reported new contracts worth RMB 717.04 billion in the first half of 2025, marking a year-on-year increase of 9.2%[51]. - The company’s strategic emerging industries revenue increased by 14.6% year-on-year in the first half of 2025, accounting for 37.3% of total revenue[64]. Human Resources and Training - The company has conducted extensive training programs covering over 600,000 participants to enhance employee skills and capabilities[116]. - The company has organized numerous training sessions, including specialized programs in artificial intelligence, to foster technological innovation[116]. - The company has appointed new executives, including two vice presidents, to strengthen its management team[123]. Shareholder and Equity Information - The total number of ordinary shareholders as of the end of the reporting period is 334,967[192]. - China Energy Engineering Group holds 18,847,137,078 shares, accounting for 45.21% of the total shares[194]. - The company’s total share capital structure remained unchanged during the reporting period[189]. - The largest shareholder, China Energy Engineering Group, plans to increase its shareholding by April 14, 2025[198]. - The ownership structure indicates significant control by major shareholders, with various entities holding substantial stakes in both A and H shares[200].

[Announcement Overview](index=1&type=section&id=Announcement%20Overview) This section provides an overview of the announcement's purpose and scope, detailing its supplementary nature to the 2024 annual report [Purpose and Scope of Announcement](index=1&type=section&id=Purpose%20and%20Scope%20of%20Announcement) This announcement supplements the 2024 annual report, providing additional details on continuing connected transactions and the share option scheme - This announcement supplements the 2024 annual report published on April 30, 2025[3](index=3&type=chunk) - The supplementary content primarily concerns additional information on continuing connected transactions and the share option scheme[4](index=4&type=chunk)[5](index=5&type=chunk) - All other information and content of the annual report remain unchanged, except as disclosed herein[5](index=5&type=chunk) [Supplemental Disclosures](index=1&type=section&id=Supplemental%20Disclosures) This section details the independent non-executive directors' and auditors' review of continuing connected transactions and the share option scheme [Continuing Connected Transactions](index=1&type=section&id=Continuing%20Connected%20Transactions) Independent non-executive directors and auditors confirmed continuing connected transactions comply with normal business terms, shareholder interests, and annual caps - Independent non-executive directors confirmed continuing connected transactions were entered into in the ordinary course of business, on normal commercial terms or better, and are fair, reasonable, and in the best interests of shareholders[4](index=4&type=chunk) - The company's auditors reported on continuing connected transactions in accordance with HKSAE 3000 (Revised) and Practice Note 740 (Revised), issuing an unqualified opinion letter[4](index=4&type=chunk) - Auditors confirmed no matters suggesting continuing connected transactions were (i) not approved by the board, (ii) not conducted in all material respects according to pricing policies, (iii) not conducted in all material respects according to governing agreements, or (iv) exceeded the company's annual caps[5](index=5&type=chunk)[8](index=8&type=chunk) [Share Option Scheme](index=2&type=section&id=Share%20Option%20Scheme) The share option scheme had 20,000,000 options available for grant as of year-end 2023 and 2024, representing 2.78% of issued shares Share Options Available for Grant | Metric | December 31, 2023 | December 31, 2024 | | :--- | :--- | :--- | | Total Share Options Available for Grant (shares) | 20,000,000 | 20,000,000 | - As of the annual report date, the total number of shares available for issue under the share option scheme represented approximately **2.78%** of the company's total issued shares (excluding treasury shares)[5](index=5&type=chunk) [Other Information](index=2&type=section&id=Other%20Information) This section outlines the current composition of the Board of Directors, including executive and independent non-executive members [Board Composition](index=2&type=section&id=Board%20Composition) As of the announcement date, the Board of Directors consists of four executive directors and four independent non-executive directors - The Board of Directors comprises executive directors Mr. Chan Wah, Mr. Lam Kam Kwong, Mr. Chung Man Lung, and Mr. Sun Jin Gang[7](index=7&type=chunk) - The Board of Directors comprises independent non-executive directors Mr. Au Hei Ching, Mr. Li Cheong Yue, Mr. Wong Chun Ming, and Ms. Chow Siu Chun[7](index=7&type=chunk)

[Annual Performance Summary](index=1&type=section&id=Annual%20Performance%20Summary) Summarizes the Group's annual financial performance, key metrics, profit growth, and dividend distributions [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Presents key financial metrics for the year, indicating stable revenue, significant profit growth, and increased EPS and total dividends | Indicator | 2025 (HKD million) | 2024 (HKD million) | Increase (%) | | :--- | :--- | :--- | :--- | | Revenue | 4,829 | 4,838 | - | | Gross Profit | 1,119 | 1,013 | 10% | | Profit for the Year | 303 | 201 | 51% | | Basic Earnings Per Share (HKD) | 1.29 | 0.85 | 52% | | Total Dividends Per Share (HKD) | 0.48 | 0.40 | 20% | | Total Equity (End of Period) | 3,140 | 2,904 | 8% | [Financial Performance](index=1&type=section&id=Financial%20Performance) The Group maintained stable revenue in FY2025, with significant improvements in both gross and net profit margins, leading to a substantial 51% increase in profit for the year - Revenue was **HKD 4,829 million**, largely consistent with the previous year[4](index=4&type=chunk) - Gross profit margin increased by **2.3 percentage points to 23.2%**, primarily due to favorable raw material costs, optimized sales mix, and improved production efficiency[4](index=4&type=chunk) - Net profit margin increased by **2.2 percentage points to 6.3%**, with profit for the year growing by **51% to HKD 303 million**[4](index=4&type=chunk) [Dividend Policy and Distribution](index=2&type=section&id=Dividend%20Policy%20and%20Distribution) The Board recommends a final dividend of HKD 0.33 per share, bringing the total annual dividend to HKD 0.48 per share, a 20% increase from the previous year - A final dividend of **HKD 0.33 per share** (2024: HKD 0.27) is proposed, totaling approximately **HKD 80,307,000**[5](index=5&type=chunk) - Including the interim dividend of **HKD 0.15 per share** (2024: HKD 0.13), the total dividend for the year is **HKD 0.48 per share** (2024: HKD 0.40), amounting to approximately **HKD 116,810,000**[5](index=5&type=chunk) - The final dividend is expected to be paid on **December 4, 2025**[5](index=5&type=chunk) [Business Review](index=2&type=section&id=Business%20Review) This section reviews the Group's operational performance across its segments, detailing strategic responses to market conditions, segment-specific achievements, and future strategic priorities [Overall Business Overview](index=2&type=section&id=Overall%20Business%20Overview) Amidst a sluggish market and intense competition, the Group maintained sales and profit margins through selective price adjustments, flexible procurement, and prudent operational expense management, while investing in talent, digital, and R&D infrastructure for long-term growth - Faced a sluggish market, consumption downgrade, and intense market competition[6](index=6&type=chunk) - Implemented selective price adjustments, flexible procurement strategies, and prudent operational expense management to safeguard profit margins[6](index=6&type=chunk) - Actively promoted talent pool, digital, and R&D infrastructure development, and explored new product R&D[6](index=6&type=chunk) [Food Segment](index=2&type=section&id=Food%20Segment) The Food segment's revenue slightly decreased by 2%, but operating profit significantly grew by 55%, driven by premiumization in flour, substantial growth in specialty fats, and resilient performance of edible oils in the Hong Kong market - Food segment revenue was **HKD 3,946 million**, a slight decrease of **2%** from the previous year[7](index=7&type=chunk) - Operating profit significantly increased by **55% to HKD 293 million**[7](index=7&type=chunk) [Flour Business](index=2&type=section&id=Flour%20Business) The Flour business maintained resilience in a weak market by focusing on premium products and customized solutions, successfully launched highland barley premix, and reorganized its mainland China sales and technical teams to adapt to market changes - Flour business maintained resilience by focusing on premium products and customized solutions[7](index=7&type=chunk) - Collaborated with industry-leading enterprises to launch highland barley premix, gaining market favor[7](index=7&type=chunk) - Reorganized mainland China sales and technical teams to enhance responsiveness to customer needs[7](index=7&type=chunk) [Specialty Fats Business](index=2&type=section&id=Specialty%20Fats%20Business) The Specialty Fats business showed strong momentum with significant growth in both sales and profit margins, leveraging synergies with the flour distribution platform to offer combined and customized solutions, further solidifying its market position - Specialty fats business achieved **significant growth in both sales and profit margins**, becoming a key growth driver[7](index=7&type=chunk) - Leveraged synergies with the flour distribution and technical platform to offer combined and customized solutions[7](index=7&type=chunk) [Edible Oils Business](index=3&type=section&id=Edible%20Oils%20Business) The Edible Oils business gained financial flexibility from reduced input cost pressure, adopted flexible pricing and expanded e-commerce/O2O channels in mainland China to boost sales, and achieved sales and market share growth in Hong Kong, demonstrating the resilience of the Knife brand - Reduced input cost pressure enhanced financial flexibility[8](index=8&type=chunk) - Adopted flexible pricing strategies and utilized e-commerce and O2O platforms to boost sales in mainland China[8](index=8&type=chunk) - Achieved sales and market share growth in the Hong Kong market, demonstrating the resilience of the Knife brand[8](index=8&type=chunk) [Home Care Segment](index=3&type=section&id=Home%20Care%20Segment) The Home Care segment saw a 9% revenue increase and 5% operating profit growth, enhancing profitability through supply chain optimization and streamlined marketing investments, while focusing on strategic non-core product innovation and mainland China market expansion, with a new Guangzhou factory project underway - Home Care segment revenue increased by **9% to HKD 883 million**, with operating profit increasing by **5% to HKD 88 million**[9](index=9&type=chunk) - Enhanced profitability through supply chain optimization and streamlined marketing investments[9](index=9&type=chunk) - Focused on non-core but strategically significant product innovation and expansion into the mainland China market[9](index=9&type=chunk) - A new factory project in Conghua District, Guangzhou, is underway, which will improve production efficiency, expand capacity, and fulfill ESG commitments[9](index=9&type=chunk) [Outlook](index=3&type=section&id=Outlook) The Group's future strategic focus is clear, emphasizing continuous product innovation, digital transformation, enhanced procurement and supply chain management, and leadership talent development to reduce commodity elements, strengthen competitiveness, and achieve sustainable long-term growth - Strategic focus includes driving product innovation, maintaining digital transformation momentum, strengthening procurement and supply chain practices, and continuously developing leadership capabilities and talent[10](index=10&type=chunk) - Aims to reduce the commodity elements of the business, enhance competitiveness, and foster sustainable long-term growth[10](index=10&type=chunk) [Financial Review](index=4&type=section&id=Financial%20Review) This section examines the Group's financial health, including liquidity, risk management strategies, capital allocation, and human capital management [Liquidity and Financial Resources](index=4&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's cash balance increased to HKD 1,916 million, undrawn banking facilities remained stable, and management considers liquidity and financial position robust enough to meet daily operations and capital expenditures - Cash balance increased to **HKD 1,916 million** (2024: HKD 1,706 million)[11](index=11&type=chunk) - Undrawn banking facilities were **HKD 589 million** (2024: HKD 585 million)[11](index=11&type=chunk) - Inventory turnover days were **81 days** (2024: 67 days), and trade receivables turnover days were **24 days** (2024: 24 days)[11](index=11&type=chunk) [Foreign Exchange Risk Management](index=4&type=section&id=Foreign%20Exchange%20Risk%20Management) Operating in mainland China, Hong Kong, and Macau, the Group faces currency risks from foreign currency-denominated receivables, payables, and cash balances, managing these risks by monitoring exchange rate trends and cash flow requirements - Operations span mainland China, Hong Kong, and Macau, with local costs and revenues primarily denominated in RMB, HKD, and MOP[12](index=12&type=chunk) - Currency risk primarily arises from foreign currency-denominated receivables, payables, and cash balances[12](index=12&type=chunk) - Foreign exchange risk is managed by monitoring foreign currency exchange rate trends and cash flow requirements[12](index=12&type=chunk) [Capital Expenditure](index=4&type=section&id=Capital%20Expenditure) For the year ended June 30, 2025, the Group's capital expenditure on plant and equipment and other fixed assets increased to HKD 59 million - Capital expenditure was **HKD 59 million** (2024: HKD 40 million), primarily for the purchase of plant and equipment and other fixed assets[13](index=13&type=chunk) [Human Resources](index=4&type=section&id=Human%20Resources) As of June 30, 2025, the Group had 1,478 employees, with a remuneration policy including annual salary increments and year-end performance bonuses, alongside an equity scheme to retain and incentivize talent - Employee headcount was **1,478**[14](index=14&type=chunk) - Remuneration policy includes annual salary increments and year-end performance bonus mechanisms[14](index=14&type=chunk) - An equity scheme is in place to grant share options and/or free shares

Financial Performance - Total revenue for the first half of 2025 was RMB 1,254,722 thousand, a decrease of 1.6% compared to RMB 1,274,843 thousand in the same period of 2024[5]. - Net income for the first half of 2025 increased by 39.4% to RMB 328,356 thousand, up from RMB 235,556 thousand in the first half of 2024[5]. - Management fee revenue rose by 2.3% to RMB 313,643 thousand, compared to RMB 306,634 thousand in the previous year[5]. - Performance fee revenue surged by 177.6% to RMB 27,878 thousand, up from RMB 10,043 thousand in the same period last year[5]. - For the six months ending June 30, 2025, the company's net income was RMB 1,244.1 million, a slight decrease of 1.7% compared to the same period in 2024, primarily due to a reduction in insurance product distribution[10]. - Shareholders' net profit increased by 41.6% to RMB 327.5 million for the six months ending June 30, 2025, compared to RMB 231.3 million for the same period in 2024[10]. - The company reported a 35.8% increase in operating income, rising from RMB 255.5 million in 2024 to RMB 347.0 million in 2025[12]. - The total revenue from wealth management business was RMB 862.7 million, a decrease of 2.2% from RMB 881.8 million in the first half of 2024[17]. - The adjusted net profit attributable to shareholders, a non-GAAP measure, increased by 33.9% to RMB 357.8 million from RMB 267.2 million in the previous year[12]. Operating Costs and Expenses - Operating costs decreased by 11.2% to RMB 897,061 thousand, down from RMB 1,009,888 thousand in the previous year[5]. - The company reported a significant increase in government subsidies, which rose by 68.9% to RMB 23,434 thousand[5]. - Total operating costs and expenses decreased by 11.2% from RMB 1,009.9 million in 2024 to RMB 897.1 million in 2025, mainly due to cost control strategies on employee compensation[53]. - Wealth management operating costs decreased by 12.4% from RMB 747.6 million in 2024 to RMB 654.6 million in 2025, attributed to reduced travel expenses and employee compensation control[57]. - Domestic public market securities operating costs decreased by 40.7% from RMB 950.28 million to RMB 563.99 million[61]. - Domestic asset management operating costs decreased by 53.6% from RMB 1,145.46 million to RMB 531.17 million[62]. - Domestic insurance operating costs decreased by 55.2% from RMB 824.13 million to RMB 369.36 million[63]. - Overseas wealth management operating costs decreased by 28.4% from RMB 2,872.49 million to RMB 2,055.62 million[64]. - Other operating expenses decreased by 61.6% from RMB 632 million to RMB 243 million[75]. Revenue Sources - The company aims to leverage its competitive advantage through personalized service models and an expanding global product portfolio[8]. - The company aims to expand its influence and investment share among global Chinese clients by investing in overseas markets and increasing its overseas financial advisor team[11]. - Domestic revenue slightly decreased compared to the same period in 2024, despite a 9.6% increase in income from publicly traded securities products, which partially offset a 12.7% decline in private equity product income[19]. - Overseas income accounted for 48% of total net income in the first half of 2025, representing a year-on-year growth, mainly from exclusive alternative investment products which increased by 18.9% compared to the same period last year[25]. - The number of overseas registered clients exceeded 18,800, a year-on-year increase of 13.0%, with active clients growing by 12.5% to over 3,600[27]. - Hedge fund and structured product fundraising reached $420 million, a year-on-year increase of 282.0%, while RMB-denominated private equity and private credit fund fundraising totaled $340 million, a 0.8% increase year-on-year[28]. - The overseas asset management division's active management product assets reached $41.4 billion, a year-on-year increase of 5.9%[28]. - The company aims to expand its customer base, particularly targeting high-net-worth investors in the U.S. and Canada[31]. - The company plans to enhance its product portfolio and investment capabilities to better serve a diverse customer base[32]. Strategic Initiatives - The company established its global headquarters in Singapore and formed a strategic partnership with Tokyo Star Bank in Japan during the first half of 2025[8]. - The company is focusing on adapting to a new paradigm driven by technology-induced deflation and efficiency gains for future growth[7]. - The company continues to emphasize education for clients and employees to navigate upcoming market changes[8]. - Cost reduction measures are expected to provide a solid foundation for margin expansion as revenues recover[32]. - The company plans to use 20% (HKD 63.1 million) for selective potential investments, with a timeline extended to the end of 2026[118]. Shareholder Information - The company does not recommend an interim dividend for the six months ending June 30, 2025[116]. - The company adopted a share incentive plan in 2022 to further align employee interests with company performance[97]. - The company has established standard labor, confidentiality, and non-competition agreements with employees[96]. - The company authorized a share repurchase plan on August 29, 2024, allowing for the repurchase of up to $50 million of American Depositary Shares over a two-year period[110]. - During the reporting period, the company repurchased a total of 739,834 American Depositary Shares, equivalent to 3,699,170 shares, at a total cost of $6,639,063.37[110]. Legal and Compliance - The company continues to comply with all relevant laws and regulations impacting its business operations, including the Securities and Futures Ordinance and the Insurance Ordinance[18]. - The company is involved in ongoing legal proceedings with 109 investors related to the Chengxing incident, with total claims exceeding RMB 358.5 million[121]. - The company has received a civil judgment requiring it to pay RMB 99.0 million in damages, which has been partially overturned in a subsequent ruling[122]. - The company has not faced any pending or ongoing legal, arbitration, or administrative proceedings that could significantly adversely affect its business or financial condition[123]. Employee Relations - The company maintains competitive compensation and performance-based dynamic work environment to attract and retain qualified personnel[96]. - Continuous investment in employee training and education programs is emphasized, including formal and on-the-job training for new hires[97]. - The total number of employees as of June 30, 2025, was 1,908, with 28.1% in business development roles[94]. - The company has not experienced any significant labor disputes during the reporting period, indicating good employee relations[97]. Investment and Assets - The company’s total assets amounted to RMB 117 billion with no interest-bearing debt, maintaining a robust capital structure[18]. - Cash and cash equivalents amounted to RMB 3,821.8 million as of June 30, 2025, indicating sufficient liquidity for at least the next 12 months[81]. - The company reported a total of 1,000,000,000 shares authorized as of December 31, 2024, with 335,153,359 shares issued and outstanding[138]. - The company’s total equity as of June 30, 2025, was RMB 9,661,763, down from RMB 10,012,740 as of December 31, 2024, reflecting a decrease of about 3.49%[138]. - The company has over 200 subsidiaries operating in various sectors, primarily focusing on wealth management services for high-net-worth individuals[151]. - The company has maintained a 100% ownership in its key subsidiaries, including Noah Investment Management and Noah Wealth Management, which are pivotal to its operations in China and Hong Kong[152].

Financial Performance - The company achieved revenue of RMB 970 million, an increase of 7.6% compared to RMB 901 million in the same period last year[7]. - Gross profit was RMB 757 million, up 6.2% from RMB 713 million year-on-year, with a gross margin of 78.1%, down 1 percentage point from the previous year[7]. - The company reported a net loss of RMB 1.255 billion, compared to a net profit of RMB 20 million in the same period last year[7]. - Adjusted net profit (non-IFRS measure) was RMB 282 million, an increase of 5.8% from RMB 266 million year-on-year[7]. - Revenue increased from RMB 901.1 million for the six months ended June 30, 2024, to RMB 970.0 million for the six months ended June 30, 2025, representing a growth of 7.6%[22]. - Mobile advertising service revenue rose by RMB 5.7 million, while data technology service revenue increased by RMB 1.2 million, contributing to overall revenue growth[22]. - The company reported a net loss of RMB 125,505,000 for the first half of 2025, compared to a profit of RMB 226,000 in the same period of 2024[102]. - Total comprehensive loss for the period reached RMB 132,303,000, significantly higher than the RMB 2,532,000 loss reported in the previous year[102]. User Growth - The number of cumulative users increased to 315 million, a growth of 5.6% from 298.4 million at the end of 2024[10]. - The average monthly active users grew to 30.2 million, a 5% increase compared to the same period in 2024[10]. Revenue Breakdown - Revenue from mobile advertising services reached RMB 942 million, a year-on-year increase of 6.4%[14]. - Data technology services revenue was RMB 28 million, a significant increase of 74.1% compared to the same period in 2024[15]. - Mobile advertising services contributed RMB 94,158 thousand to revenue, up from RMB 88,496 thousand, reflecting a growth of 6.8% year-over-year[125]. - Data technology services revenue increased significantly to RMB 2,815 thousand from RMB 1,617 thousand, representing a growth of 74.1%[125]. Expenses and Costs - Sales cost increased by RMB 2.5 million or 13.06%, with the sales cost as a percentage of revenue rising from 20.9% to 22.0%[23]. - R&D expenses rose from RMB 186.0 million to RMB 216.0 million, primarily due to hiring additional R&D personnel and increased stock incentive costs[29]. - Other income decreased by RMB 0.3 million or 11.7%, primarily due to a decline in investment income and fair value gains on financial investments[30]. Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of RMB 0.8 million for the six months ended June 30, 2025, primarily due to a pre-tax loss of RMB 123.6 million, largely from non-cash items[36]. - Cash and cash equivalents increased to RMB 246.5 million as of June 30, 2025, representing a significant growth of 337.8% compared to RMB 56.3 million at the end of 2024[38]. - The company incurred a net cash outflow from investing activities of RMB 16.9 million, mainly due to the purchase of financial investments valued at RMB 137.0 million[37]. - The financing activities generated a net cash inflow of RMB 207,663,000 in the first half of 2025, compared to a net cash outflow of RMB (14,389,000) in the same period of 2024[112]. Financial Position - As of June 30, 2025, the group's net current assets amounted to RMB 283.9 million, while the net current liabilities were RMB 379.7 million, resulting in a current ratio of 4.7 compared to 0.3 on December 31, 2024[45]. - The company's equity increased to RMB 346,936,000 as of June 30, 2025, recovering from a deficit of RMB 312,092,000 at the end of 2024[106]. - The total accounts payable as of June 30, 2025, was RMB 5,030 thousand, a decrease from RMB 7,864 thousand at the end of 2024[139]. Shareholder Information - As of June 30, 2025, Dr. Sun Xi holds 32,629,326 shares, representing approximately 21.15% of the total equity, including various forms of ownership[64]. - Ms. Qian Jinlei owns 13,129,743 shares, accounting for approximately 8.51% of the total equity[67]. - The company raised approximately RMB 221,836,000 from the issuance of 24,856,000 ordinary shares at HKD 9.75 per share during the IPO on June 10, 2025[140]. Corporate Governance and Compliance - The company adopted the Corporate Governance Code after listing on June 10, 2025, and has complied with applicable provisions[83]. - The board consists of 4 executive directors and 3 independent non-executive directors, with no changes in director information since the listing date[63]. Future Plans and Investments - The company plans to expand its overseas market presence by adapting to local user travel habits and optimizing product experience through a "technology output + localized operation" model[19]. - The company plans to recruit approximately 10 experts in time series model training and optimization, allocating HKD 16 million for this purpose by 2027[90]. - The company intends to lease computing resources based on graphical processing units from leading domestic cloud service providers, with an allocation of HKD 16 million by 2028[92]. Risk Management - The group faces credit risk primarily from accounts receivable, with individual credit verification procedures for customers wishing to transact on credit, focusing on past payment records and current payment capabilities[59]. - The group has established financial risk management policies to address credit, liquidity, and exchange rate risks[58].

目錄 北京訊眾通信技術股份有限公司 02 公司資料 04 釋義 08 管理層討論及分析 22 企業管治 25 其他資料 31 合併資產負債表（未經審計） 34 母公司資產負債表（未經審計） 37 合併利潤表（未經審計） 38 母公司利潤表（未經審計） 41 合併現金流量表（未經審計） 43 母公司現金流量表（未經審計） 45 合併股東權益變動表（未經審計） 47 母公司股東權益變動表（未經審計） 49 財務報表附註 Beijing Xunzhong Communication Technology Co., Ltd. 公司資料 （於中華人民共和國註冊成立的股份有限公司） 股份代號 : 2597 董事 2025 中 期 報 告 執行董事 樸聖根先生 （董事長兼行政總裁） 王培德先生 岳端普先生 張治山先生 陳晶女士 獨立非執行董事 孫強先生 項立剛先生 蘇子樂先生 監事 蔣紅艷女士 （主席） 郭大偉先生 張文先生 審計委員會 孫強先生 （主席） 項立剛先生 蘇子樂先生 提名委員會 蘇子樂先生 （主席） 陳晶女士 項立剛先生 薪酬與考核委員會 項立剛先生 （主席） 孫強先生 蘇子樂先生 戰略委員會 樸聖根先生 （ ...

（Incorporated in Jersey, Channel lslands with limited liability and carrying on business in Hong Kong as "Zhongke Tianyuan New Energy Limited"） Zhongke Tianyuan New Energy Limited Stock Code 股份代号:1156 2 INTE 0 RIMREP 2 ORT 5 China New Energy Limited 2 INTE 0 RIMREP 2 ORT 5 Stock Code 股份代号:1156 香港以 之名开展业务） 2 INTE 0 RIMREP 2 ORT Zhongke Tianyuan New Energy Limited （Incorporated in Jersey, Channel lslands with limited liability and carrying on business in Hong Kong as "Zhongke Tianyuan New Energy Limited"） （於海 ...

2025年 中期報告 FingerTango Inc. （於開曼群島註冊成立的有限公司） 股份代號: 6860 Stock Code: 6860 FingerTango Inc. (Incorporated in the Cayman Islands with limited liability) 2025 INTERIM REPORT 目錄 | 2 | 公司資料 | | --- | --- | | 4 | 管理層討論與分析 | | 14 | 簡明綜合損益及其他全面收益表 | | 15 | 簡明綜合財務狀況表 | | 17 | 簡明綜合權益變動表 | | 18 | 簡明綜合現金流量表 | | 19 | 簡明綜合財務報表附註 | | 32 | 其他資料 | INTERIM REPORT 2025 41 釋義 年 中期報告 公司資料 FingerTango Inc. 董事 執行董事 陳文鋒博士 （主席） （於二零二五年一月十日獲委任為主席） 李妮妮女士 （首席執行官） （於二零二五年一月十日獲委任為首席執行官） 獨立非執行董事 葉創河先生 （於二零二五年八月二十五日獲委任） 江輝輝先生 單浩銓先生 周永堯先生 （ ...

Share Option Scheme - The total number of shares available for grant under the share option scheme as of January 1, 2024, is 32,406,875 shares, representing approximately 0.95% of the total issued shares[4] - After the share consolidation on June 26, 2020, the total number of shares available for grant under the share option scheme as of December 31, 2024, will be 3,240,687 shares, representing approximately 0.79% of the total issued shares[4]

XtalPi Holdings Limited 晶泰控股有限公司 股份代號:2228 (於開曼群島註冊成立之有限公司) 2025 中期報告 2025 INTERIM REPORT Stock Code:2228 XtalPi Holdings Limited 晶泰控股有限公司 (Incorporated in the Cayman Islands with limited liability) INTERIM REPORT 2025 中期報告 目錄 公司資料 財務摘要 公司簡介 管理層討論與分析 14 企業管治及其他資料 23 中期財務資料的審閱報告 32 簡明合併損益表 33 簡明合併全面收益表 34 簡明合併資產負債表 35 簡明合併權益變動表 37 簡明合併現金流量表 39 中期財務資料附註 40 2 4 5 釋義 68 公司資料 董事會 執行董事 溫書豪博士 （主席） 馬健博士 （首席執行官） 賴力鵬博士 蔣一得博士 獨立非執行董事 提名委員會 溫書豪博士 （主席） 羅卓堅先生 陳穎琪女士 聯席公司秘書 劉石梅女士 陳秀玲女士 羅卓堅先生 陳穎琪女士 周明笙先生 授權代表 溫書豪博士 劉石梅女士 審核 ...