Financial Performance - For the six months ended June 30, 2025, the company's revenue was S$4,874,401, a decrease of 59.9% compared to S$12,150,977 in the same period of 2024[19]. - The cost of services for the same period was S$5,746,312, resulting in a gross loss of S$871,911, compared to a gross profit of S$2,426,059 in 2024[19]. - The company reported a loss before taxation of S$2,739,828, a significant decline from a profit of S$264,397 in the previous year[19]. - The net loss for the period was S$2,739,930, compared to a profit of S$244,118 in the same period of 2024[19]. - Total comprehensive expense for the period amounted to S$2,629,996, contrasting with a comprehensive income of S$196,383 in 2024[19]. - Basic loss per share was S$0.57, compared to earnings of S$0.05 per share in the previous year[19]. - Other income for the period was S$364,519, slightly up from S$348,632 in 2024[19]. - The company reported a net loss of S$2,739,930 for the six months ended June 30, 2025, compared to a loss of S$3,845,718 for the same period in 2024[25]. - The loss after taxation for the six months ended June 30, 2025, was approximately S$2,740,000, compared to a profit of approximately S$244,000 in 2024, primarily due to decreased revenue and a shift from gross profit to gross loss[123]. Expenses and Cost Management - Selling expenses decreased to S$58,604 from S$115,080 in the previous year, indicating a reduction in marketing costs[19]. - Administrative expenses were S$2,149,626, a decrease from S$2,337,077 in 2024, reflecting cost control measures[19]. - Finance costs decreased to S$24,206 from S$58,137, showing improved financial management[19]. - Total staff costs, including directors' remuneration, decreased to S$2,047,535 in 2025 from S$2,327,941 in 2024, a reduction of approximately 12%[58]. - The cost of materials recognized as expenses was S$1,502,858 in 2025, down from S$3,074,767 in 2024, indicating a decrease of about 51%[56]. - The total subcontractor costs recognized as expenses were S$2,144,465 in 2025, down from S$3,625,072 in 2024, representing a decrease of approximately 41%[56]. - Depreciation expenses for property, plant, and equipment were approximately S$105,000 in 2025, a decrease from approximately S$445,000 in 2024, reflecting a reduction of about 76%[61]. - The Group incurred depreciation expenses on right-of-use assets of approximately S$240,000 in 2025, down from approximately S$331,000 in 2024, a decrease of about 27%[66]. Assets and Liabilities - As of June 30, 2025, total assets less current liabilities amounted to S$7,910,784, a decrease of 25.5% from S$10,621,255 as of December 31, 2024[21]. - Net current assets decreased to S$4,699,174, down 37.7% from S$7,460,727 at the end of 2024[21]. - Cash and cash equivalents at the end of the period were S$1,061,338, a decrease of 33.1% from S$1,587,881 at the beginning of the period[26]. - Trade receivables significantly decreased to S$711,285 from S$2,537,913, indicating a reduction of 72%[21]. - Contract assets also declined to S$6,291,871, down 10.8% from S$7,055,953[21]. - The company's net assets stood at S$6,063,293, a decrease of 30.2% from S$8,693,289 at the end of 2024[23]. - Borrowings increased to S$668,150 from S$226,444, reflecting a significant rise in financing needs[21]. - Trade payables decreased to S$2,085,829 as of June 30, 2025, from S$2,299,428 as of December 31, 2024, a decline of approximately 9%[79]. Shareholder Information - The company did not recommend the payment of dividends for the six months ended June 30, 2025, consistent with 2024[52]. - No dividends were paid, proposed, or declared for the ordinary shareholders for the six months ended June 30, 2025[102]. - Mr. Wei Guangjun holds 3,502,500 shares, representing approximately 0.73% of the total issued share capital, while together with Houyin (International) Group Company Limited, they hold 104,652,500 shares, representing approximately 21.80%[142]. - As of June 30, 2025, Houyin (International) Group Company Limited holds 101,150,000 shares, representing approximately 21.07% of the issued share capital of the Company[148]. - Together, Mr. Wei Guangjun and Houyin (International) Group Company Limited hold a total of 104,652,500 shares, representing approximately 21.80% of the total issued capital of the Company[149]. Corporate Governance - The Company has complied with all code provisions of the Corporate Governance Code during the six months ended June 30, 2025[159]. - The Company has adopted a code of conduct regarding securities transactions by directors, with no non-compliance reported[155]. - The Board comprises four executive Directors, two non-executive Directors, and three independent non-executive Directors as of the report date[176]. - The Audit Committee reviewed the unaudited results for the six months ended June 30, 2025, and provided advice and comments[175]. Strategic Initiatives and Market Outlook - The Group's strategy includes expanding and strengthening its market position in the structural steel work industry in Singapore through increased projection capacity and workforce[123]. - The Group is expanding its capacity to meet increased demand and is actively pursuing projects from various clients to reduce reliance on a single customer[128]. - Singapore's total construction demand in 2025 is projected to range between S$35 billion and S$39 billion, with medium-term demand expected to reach between S$39 billion and S$46 billion annually from 2026 to 2029[133]. - The Building and Construction Authority (BCA) estimates total construction demand in 2025 to be between approximately S$47 billion and S$53 billion, driven by large-scale developments like Changi Airport Terminal 5 and Marina Bay Sands expansion[134]. - The strong demand for construction is supported by public housing development, healthcare facilities, and infrastructure works, including the Thomson-East Coast Line Extension and Cross Island Line[135]. - The Group is venturing into the China silver economy market by distributing Tibetan Plateau yak dairy products, aligning with its long-term growth strategy[130]. Employee Information - The Group employed a total of 127 employees as of June 30, 2025, a slight decrease from 128 employees as of December 31, 2024[110]. - The Group has adopted a share option scheme to incentivize its employees[110]. - No share options were outstanding under the share option scheme as of January 1, 2025, and June 30, 2025, with 48,000,000 shares available for grant, representing 10% of the issued share capital[162].

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 備 性 亦 不 發 表 任 何 聲 明，且 表 明 不 會 就 因 本 公 告 全 部 或 任 何 部 分 內容或因倚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之有限公司） （股份代號：6093） 截 至2025年6月30日止六個月之中期業績公告 財務概要 – 1 – • 本集團的總收入由截至2024年6月30日止六個月的約人民幣672.0百萬元增加 約4.4%至截至2025年6月30日止六個月的約人民幣701.4百萬元。 • 本集團的毛利由截至2024年6月30日止六個月的約人民幣188.4百萬元減少約4.9% 至截至2025年6月30日止六個月的約人民幣179.1百萬元。 • 本集團除所得稅後溢利由截至2024年6月30日止六個月的約人民幣54.1百萬元 減少約73.8%至截至2025年6月30日止六個月的約人民幣14.2百萬元。 • 本集團總在管建築面積由截至2024年6月30日止六個月的約61.1百萬平方米減 少 約8.7%至截至2025年6月30日止六個月的約55.8百 萬 平 ...

[Company Overview](index=1&type=section&id=Company%20Overview) [Financial Summary and Performance Highlights](index=1&type=section&id=Financial%20Summary%20and%20Performance%20Highlights) MicroPort CardioFlow Medtech reported H1 2025 unaudited interim results, with revenue up 2.7% to RMB 229.1 million and net loss significantly narrowed to RMB 2.2 million, driven by global commercialization and operational efficiency Financial Summary for the Six Months Ended June 30, 2025 | Metric | 2025 (RMB thousand) | 2024 (RMB thousand) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 229,103 RMB thousand | 223,138 RMB thousand | +2.7% | | Gross Profit | 160,922 RMB thousand | 158,224 RMB thousand | +1.7% | | Profit/(Loss) from Operations | 3,817 RMB thousand | (28,480) RMB thousand | 扭虧為盈 | | Loss for the Period | (2,197) RMB thousand | (57,753) RMB thousand | 虧損大幅收窄 | | Loss per Share (RMB cents) | (0.09) RMB cents | (2.40) RMB cents | 虧損大幅收窄 | - Overseas revenue rapidly grew by **235.3%**, primarily driven by the global commercialization of VitaFlow Liberty® and Alwide® Plus[5](index=5&type=chunk) - AnchorMan® Left Atrial Appendage Occluder System and delivery system steadily advanced commercialization in China, with new revenue contributions from Europe[5](index=5&type=chunk) - Net loss significantly reduced, primarily due to revenue and gross profit growth, improved operational efficiency, and gain on deemed disposal of equity interest after associate 4C Medical's Series D financing[5](index=5&type=chunk) [Operating Review and Business Development](index=3&type=section&id=Operating%20Review%20and%20Business%20Development) [Industry Overview](index=3&type=section&id=Industry%20Overview) In H1 2025, China's structural heart disease sector saw TAVI and LAAO procedure growth amid innovation, but faces challenges from competition and centralized procurement - New TAVI products launched, with academic exchanges, patient education, and procedure promotion jointly boosting efforts, driving steady growth in surgical penetration and industry scale[6](index=6&type=chunk) - Left atrial appendage occlusion achieved breakthroughs in technological innovation and domestic substitution, leveraging the 'catheter ablation + left atrial appendage occlusion' one-stop surgery promotion, leading to rapid growth in surgical volume[6](index=6&type=chunk) - The industry faces challenges from intensified competition leading to price adjustments and centralized volume-based procurement policies[6](index=6&type=chunk) [Product Pipeline](index=4&type=section&id=Product%20Pipeline) The company has 7 approved products in TAVI and LAAO, with various TAVI, TMV, TTV, LAAO, and VSR products in development, holding exclusive China commercialization rights for 4C Medical's TMV/TTV - As of the announcement date, the company's self-developed product portfolio includes **7 approved products**: VitaFlow®, VitaFlow Liberty®, VitaFlow Liberty® Flex, Alwide® Plus, AccuSniperTM, AnchorMan® Left Atrial Appendage Occluder System, and AnchorMan® Left Atrial Appendage Delivery System[11](index=11&type=chunk) - The company collaborates with 4C Medical to develop TMV and TTV products, holding exclusive commercialization rights for these products in China[11](index=11&type=chunk) [Approved Products](index=4&type=section&id=Approved%20Products) The company has multiple TAVI products (VitaFlow®, VitaFlow Liberty®, VitaFlow Liberty® Flex) and accessory products (Alwide® Plus), plus the AnchorMan® LAAO system, with NMPA/CE certifications and global commercialization - VitaFlow Liberty® newly obtained registration approvals in Kazakhstan, Latvia, Sweden, Ecuador, and Brazil, accumulating approvals in **22 countries/regions**[9](index=9&type=chunk) - AnchorMan® Left Atrial Appendage Occluder System obtained CE approval, becoming the only left atrial appendage occluder system to date with both **CE-MDR and NMPA dual certifications**[9](index=9&type=chunk) - Alwide® Plus obtained CE mark in August 2025, accumulating registration approvals in **14 countries or regions**[9](index=9&type=chunk) [VitaFlow®](index=5&type=section&id=VitaFlow%C2%AE) VitaFlow®, the company's first-gen TAVI product, approved by NMPA in 2019, shows excellent 5-year and 8-year safety and efficacy, outperforming other Chinese TAVI products - VitaFlow® was approved by NMPA in July 2019 and commercialized in China in August[14](index=14&type=chunk) - 5-year follow-up results released in July 2022 showed **18.2% all-cause mortality** and **2.1% severe stroke event incidence**[14](index=14&type=chunk) - 8-year follow-up results released in 2024 showed **39.1% all-cause mortality** and **20.6% cardiac mortality**, outperforming other TAVI products in China[14](index=14&type=chunk) [VitaFlow Liberty®](index=6&type=section&id=VitaFlow%20Liberty%C2%AE) VitaFlow Liberty®, the second-gen TAVI product, features a unique retrievable delivery system, won design awards, and is NMPA/CE approved, registered in 20 overseas countries - VitaFlow Liberty® is a second-generation TAVI product with a retrievable delivery system, allowing up to **three retrievals** to improve surgical success rates[16](index=16&type=chunk) - The product won the German Red Dot Product Design Award and the Italian A'Design Award[16](index=16&type=chunk) - Approved by NMPA in August 2021, CE certified in April 2024, and registered in **20 overseas countries/regions**[16](index=16&type=chunk) [VitaFlow Liberty® Flex](index=6&type=section&id=VitaFlow%20Liberty%C2%AE%20Flex) VitaFlow Liberty® Flex, the third-gen TAVI product, NMPA approved in Dec 2024, is the world's only true coaxial steerable self-expanding aortic valve delivery system, offering precise solutions for complex cases - VitaFlow Liberty® Flex was approved by NMPA in December 2024, becoming the world's **only 'true' coaxial steerable self-expanding aortic valve delivery system**[17](index=17&type=chunk) - Features **3D spatial steering function** and Capsule segment steerability, ensuring coaxial valve release and stable, precise implantation[17](index=17&type=chunk) - Excellent early exploratory clinical implantation results, with **significant improvement in 30-day follow-up indicators**, and widespread acclaim for real-world clinical performance[17](index=17&type=chunk) [Alwide® Plus](index=7&type=section&id=Alwide%C2%AE%20Plus) Alwide® Plus, the second-gen cardiac valve balloon dilatation catheter, compatible with three generations of TAVI products, offers ultra-low compliance and high puncture resistance for safer procedures - Alwide® Plus is a second-generation cardiac valve balloon dilatation catheter, compatible with the company's **three generations of TAVI products**[18](index=18&type=chunk) - Key features include **ultra-low compliance, high burst pressure, rapid inflation/deflation, and excellent puncture resistance**[18](index=18&type=chunk) - Approved by NMPA in August 2021, obtained CE mark in August 2025, and subsequently received registration approvals in **12 overseas countries or regions**[18](index=18&type=chunk) [AnchorMan® Left Atrial Appendage Occluder System](index=7&type=section&id=AnchorMan%C2%AE%20Left%20Atrial%20Appendage%20Occluder%20System) AnchorMan® LAAO System is an interventional solution for non-valvular AF stroke prevention, featuring a semi-closed structure for stable anchoring, reduced tissue damage, and improved sealing - AnchorMan® Left Atrial Appendage Occluder System and delivery system is an interventional medical solution for **stroke prevention in non-valvular atrial fibrillation**[19](index=19&type=chunk) - Features **12 '3D folding' units** at the tail forming a semi-closed structure with the mesh, addressing the clinical pain point of traditional plug-type occluder sheaths deeply entering the left atrial appendage[19](index=19&type=chunk) - The device's distal end is rounded and soft, reducing left atrial appendage tissue damage; the dense nitinol mesh design enhances sealing effect, and offers **both push and pull release methods**[19](index=19&type=chunk) [Products Under Development](index=7&type=section&id=Products%20Under%20Development) The company is advancing innovative products including fourth-gen TAVI, AR, MR, TR, next-gen LAAO, and the world's first VSR product for post-MI VSP, aiming to expand its portfolio and market leadership - VitaFlow Liberty® Pro is the **fourth-generation product** in the VitaFlow series, aiming to enhance safety and efficacy, and offer better options in terms of low profile, durability, and hemodynamics[20](index=20&type=chunk) - VitaFlow® SELFValveTM is a TMVR product for MR patients, with **dozens of human implantations and up to two-year postoperative follow-ups completed**, and human application and validation are being advanced in multiple centers[23](index=23&type=chunk) - VitaManTM is the **world's first and only ventricular septal reconstruction product** designed for post-myocardial infarction ventricular septal perforation, aiming to fill market gaps and enhance brand influence[27](index=27&type=chunk) [VitaFlow Liberty® Pro](index=7&type=section&id=VitaFlow%20Liberty%C2%AE%20Pro) VitaFlow Liberty® Pro, the fourth-gen VitaFlow product, is in R&D, aiming for enhanced safety, efficacy, low profile, durability, and hemodynamics - VitaFlow Liberty® Pro is the VitaFlow series fourth-generation product, currently in the R&D and design phase[20](index=20&type=chunk) - The product will continue technical features such as steerability and strong support, and continuously strive for improvements in safety

Financial Performance - For the six months ended June 30, 2025, the company reported a revenue of RMB 256,030,260, a decrease of 4.97% compared to RMB 269,407,283 in the same period of 2024[6]. - The company's profit attributable to shareholders for the same period was RMB 4,450,709, representing a 19.78% increase from RMB 3,715,621 in the previous year[6]. - Basic earnings per share increased to RMB 1.29, up 19.78% from RMB 1.07 in the prior year[6]. - The company reported a net profit of RMB 4,174,546,475 under Chinese accounting standards, which is a 15.42% increase from RMB 3,616,701,998 in the same period last year[10]. - Net profit attributable to shareholders increased by 15.42% to RMB 4.175 billion, up from RMB 3.617 billion in the previous year[43]. - The gross profit for the same period was RMB 9,193,487, down from RMB 9,738,175, reflecting a decline in gross margin[120]. - The company reported a net loss of RMB 1,180,494 from various financial assets and investments during the period[160]. Assets and Liabilities - Total assets as of June 30, 2025, reached RMB 247,857,745, reflecting a 28.34% increase from RMB 193,127,836 at the end of 2024[6]. - Total liabilities increased by 49.96% to RMB 157,945,329 from RMB 105,325,779 at the end of 2024[6]. - The company's accounts receivable increased significantly, with notes receivable rising to RMB 442,809,711, a 286.37% increase from RMB 114,608,744[54]. - The total liabilities at the end of the reporting period were significantly impacted, with total liabilities increasing by 127.89% for current non-current liabilities, reaching RMB 13,016,382,274[56]. - The company's long-term borrowings decreased to RMB 6,936,725,175, down 50.15% from RMB 13,915,134,362, as more long-term borrowings matured within one year[56]. Cash Flow and Financing - The net cash flow from operating activities improved significantly to RMB 2,871,405,799, compared to a negative cash flow of RMB -4,850,568,102 in the previous year[10]. - The company's cash flow from financing activities increased due to the rise in bank deposits and credit instruments, resulting in a net cash flow increase of RMB 3,343,184 million (or 110.06%) compared to the previous year[55]. - The total monetary funds at the end of the reporting period reached RMB 63,807,602,374, representing 25.74% of total assets, an increase of 110.06% from RMB 30,375,757,010 (15.73%) at the end of the previous year[54]. Production and Operations - The company produced 119.54 thousand tons of cathode copper, a year-on-year increase of 1.74%[44]. - Gold production decreased by 30.66% to 49.97 tons compared to 72.06 tons in the previous year[44]. - Silver production increased by 11.14% to 703.71 tons, up from 633.19 tons in the same period last year[44]. - The company operates five smelting plants, with Guixi Smelting Plant being the largest and most technologically advanced in China[23]. - The company has five wholly-owned operating mines, including Dexing Copper Mine and Yongping Copper Mine[25]. Market and Industry Trends - In the first half of 2025, the average price of LME copper is projected to be $9,447 per ton, a year-on-year increase of approximately 1.9% compared to 2024[29]. - Global refined copper consumption is expected to grow by approximately 5.3% in the first half of 2025, driven by strong demand in the new energy sector and high-speed growth in global grid investment[32]. - The demand for the company's products is influenced by macroeconomic conditions and the performance of downstream industries such as electricity, electronics, and construction[73]. Governance and Shareholder Information - The company has distributed a cumulative cash dividend of over RMB 12 billion from 2012 to 2023, with a proposed cash dividend of RMB 7 per 10 shares for 2024, totaling approximately RMB 2.071 billion[77]. - The board has proposed a cash dividend of RMB 4 per 10 shares for the first half of 2025, amounting to approximately RMB 1.381 billion, to enhance dividend stability and predictability[77]. - The total number of ordinary shareholders reached 117,814 by the end of the reporting period[80]. - The largest shareholder, Jiangxi Copper Group Co., Ltd., holds 1,583,162,110 shares, accounting for 45.72% of the total shares[82]. Research and Development - Research and development expenses increased by 2.73% to CNY 579.34 million, reflecting the company's commitment to innovation[50]. - The company has obtained a total of 986 patents as of June 30, 2025, including 233 invention patents, indicating strong innovation capabilities[47]. - The company has completed industrial trials for its self-developed green ore selection agent, significantly improving the recovery rate of various precious metals while reducing selection costs[77]. Risk Management - The company faces safety production risks that could lead to significant property loss and environmental impact if not managed properly[69]. - The company is exposed to foreign exchange risks due to its international operations and transactions primarily conducted in USD[69]. - The company plans to implement measures to mitigate product price volatility risks, including enhancing financial management and optimizing raw material procurement and product sales[72].

Financial Performance - The unaudited consolidated results for the six months ended June 30, 2025, were presented, showing a comparison with the corresponding period of 2024[19] - Revenue for the six months ended June 30, 2025, was S$4,874,401, a decrease of 59.9% compared to S$12,150,977 in the same period of 2024[21] - Gross loss for the period was S$871,911, compared to a gross profit of S$2,426,059 in the previous year, indicating a significant decline[21] - Loss before taxation was S$2,739,828, compared to a profit of S$264,397 in the same period last year[21] - The unaudited consolidated profit for the period showed an increase of 20% compared to the previous year, reflecting strong performance across key segments[19] - The company reported a loss attributable to owners of S$2,739,930 for the six months ended June 30, 2025, compared to a profit of S$244,118 in the same period of 2024[58] - The loss after taxation for the six months ended June 30, 2025, was approximately S$2,740,000, compared to a profit of approximately S$244,000 in 2024, primarily due to decreased revenue and a shift from gross profit to gross loss[125] Operational Efficiency - The company aims to improve operational efficiency, targeting a reduction in operational costs by 12% over the next year[19] - Total staff costs, including directors' remuneration, decreased to S$2,047,535 from S$2,327,941, representing a reduction of approximately 12%[60] - Selling and administrative expenses decreased to approximately S$2,208,000, down from approximately S$2,452,000 in 2024, representing a reduction of approximately S$244,000[90] - Cost of materials recognized as expenses was S$1,502,858, down from S$3,074,767, indicating a decrease of about 51%[60] - Subcontractor costs recognized as expenses fell to S$2,144,465 from S$3,625,072, a decrease of approximately 41%[60] Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[19] - Market expansion efforts include entering two new international markets, expected to contribute an additional 5% to overall revenue by the end of 2026[19] - The Group is exploring the silver economy business in China and the Asia Pacific region[85] - Singapore's total construction demand in 2025 is projected to range between S$35 billion and S$39 billion, with a steady improvement expected to reach between S$39 billion and S$46 billion annually from 2026 to 2029[135] Cash Flow and Assets - Net cash used in operating activities was S$441,734, an improvement from S$2,111,764 used in the previous year[28] - Cash and cash equivalents at the end of the period were S$1,061,338, down from S$1,587,881 at the beginning of the period[28] - Current assets decreased to S$9,848,201 from S$13,042,626 as of December 31, 2024, primarily due to a reduction in trade receivables[23] - Total assets less current liabilities decreased to S$7,910,784 from S$10,621,255 as of December 31, 2024[23] - The Group's net current assets were approximately S$4,699,000 as of June 30, 2025, down from approximately S$7,461,000 on December 31, 2024[95] Shareholder Information - The Company did not purchase, sell, or redeem any of its listed securities during the six months ended June 30, 2025[157] - The Board does not recommend the payment of dividends for the six months ended June 30, 2025, consistent with the previous year[166] - No share options were outstanding under the share option scheme as of January 1, 2025, and June 30, 2025, with 48,000,000 shares available for grant, representing 10% of the issued share capital[165] - As of June 30, 2025, Mr. Wei Guangjun holds 3,502,500 shares, representing approximately 0.73% of the total issued capital, while together with Houyin (International) Group Company Limited, they hold 104,652,500 shares, representing approximately 21.80%[145] Governance and Compliance - The Company has adopted a code of conduct regarding securities transactions by directors, with no reported non-compliance during the review period[158] - The roles of chairperson and chief executive officer are separated, with Mr. Wei Guangjun as chairman and Mr. Huang Fu Tang appointed as CEO effective April 10, 2025[163] - The Company has complied with all code provisions of the Corporate Governance Code during the six months ended June 30, 2025[162] - The Audit Committee, established on June 21, 2017, reviewed the unaudited results for the six months ended June 30, 2025[178]

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。 Haier Smart Home Co., Ltd.* 海爾智家股份有限公司 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 截至2025年6月30日止六個月之 中期業績公告 | 財務摘要 | | | | | --- | --- | --- | --- | | | 截至6月30日止六個月 | | | | | 2025年 | 2024年 | 變動 | | | 人民幣百萬元 | 人民幣百萬元 | % | | | （未經審核） | （未經審核） | | | | | （經重列） | | | 收入 | 156,469 | 141,981 | 10.2 | | 毛利 | 41,240 | 37,284 | 10.6 | | 經調整經營利潤（定義見下文） | 13,200 | 11,689 | 12.9 | | 期內溢利 | 12,485 | 10,774 | 15.9 | | 應佔： | | | | ...

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。 HUNG FOOK TONG GROUP HOLDINGS LIMITED 鴻福堂集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1446） 截至二零二五年六月三十日止六個月的 中期業績公告 摘要 1 • 截至二零二五年六月三十日止六個月（「二零二五年上半年」）的收益較截至 二零二四年六月三十日止六個月（「二零二四年上半年」）的308,000,000港 元減少5.1%至292,300,000港元。 － 來自香港零售業務的收益減少4.2%至226,500,000港元（二零二四年上 半年：236,300,000港元）。於二零二五年六月三十日，本集團於香港 共經營107間自營零售店。 － 來自批發業務的收益減少8.2%至65,800,000港元（二零二四年上半 年：71,700,000港元）。 • 二零二五年上半年的毛利減少2.4%至177,100,000港元（二零二四年上半 年：181,50 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | 截至6月30日止六個月 | | | | --- | --- | --- | --- | | | 2025年 | 2024年 | | | | （未經審計） | （未經審計） | 變幅 | | 綜合損益及其他全面收益表的主要項目 | | | | | 收入（人民幣千元） | 550,178 | 430,971 27.7% | | | 毛利（人民幣千元） | 62,017 | 21.3% 51,111 | | | 毛利率 | 11.3% | 11.9%（0.6個百分點） | | | 期內本公司權益股東應佔利潤（人民幣千 | | | | | 元） | 17,350 | 14,062 23.4% | | | 純利潤率 | 3.2% | 3.3%（0.1個百分點） | | | 每股基本及攤薄盈利（人民幣分） | 2.17 | 1.76 | | 董事會議決不就截至2025年6月30日止六個月宣派中期股息（截至20 ...

[Performance Summary](index=1&type=section&id=Performance%20Summary) The company reported a significant decrease in total operating revenue and an increase in net loss attributable to shareholders for the first half of 2025 Key Financial Indicators for H1 2025 | Indicator | For the six months ended June 30, 2025 (RMB) | For the six months ended June 30, 2024 (RMB) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 71.93 million yuan | 153.84 million yuan | -53.25% | | Net Loss Attributable to Shareholders of Listed Company | 163.43 million yuan | 141.49 million yuan | Loss increased by 21.94 million yuan | | Basic Loss Per Share | 0.71 yuan | 0.61 yuan | Loss increased by 0.10 yuan | [Financial Statements](index=2&type=section&id=Financial%20Statements) This section presents the company's consolidated balance sheet and income statement, highlighting key financial performance and position changes [Consolidated Balance Sheet](index=2&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, the company's total assets decreased to RMB 4.254 billion from RMB 4.779 billion at the end of 2024, with both current and non-current assets declining, while total liabilities also decreased to RMB 1.611 billion from RMB 1.936 billion, primarily due to a significant reduction in short-term borrowings Changes in Key Items of Consolidated Balance Sheet (June 30, 2025 vs. December 31, 2024) | Item | June 30, 2025 (RMB yuan) | December 31, 2024 (RMB yuan) | Change (RMB yuan) | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | 413,683,646.28 | 722,234,518.26 | -308,550,871.98 | | Financial assets held for trading | 723,355,622.97 | 727,426,376.60 | -4,070,753.63 | | Accounts receivable | 1,477,671,515.46 | 1,547,509,301.12 | -69,837,785.66 | | Inventories | 161,291,832.60 | 192,962,787.88 | -31,670,955.28 | | Total current assets | 2,845,213,261.05 | 3,276,729,037.21 | -431,515,776.16 | | Long-term equity investments | 241,582,155.22 | 283,798,699.12 | -42,216,543.90 | | Fixed assets | 470,439,279.81 | 497,106,247.86 | -26,666,968.05 | | Total non-current assets | 1,408,858,702.18 | 1,502,239,825.90 | -93,381,123.72 | | **Total Assets** | **4,254,071,963.23** | **4,778,968,863.11** | **-524,896,899.88** | | **Liabilities** | | | | | Short-term borrowings | 456,503,292.47 | 762,428,281.10 | -305,924,988.63 | | Accounts payable | 649,770,541.48 | 669,625,643.10 | -19,855,101.62 | | Total current liabilities | 1,441,058,116.93 | 1,754,569,233.81 | -313,511,116.88 | | Total non-current liabilities | 169,750,471.22 | 181,055,251.09 | -11,304,779.87 | | **Total Liabilities** | **1,610,808,588.15** | **1,935,624,484.90** | **-324,815,896.75** | | **Owners' Equity** | | | | | Total equity attributable to owners of the parent company | 2,397,692,764.75 | 2,561,032,869.37 | -163,340,104.62 | | Non-controlling interests | 245,570,610.33 | 282,311,508.84 | -36,740,898.51 | | **Total Equity** | **2,643,263,375.08** | **2,843,344,378.21** | **-200,080,993.13** | [Consolidated Income Statement](index=6&type=section&id=Consolidated%20Income%20Statement) For the six months ended June 30, 2025, the company's total operating revenue significantly decreased by 53.25% to RMB 71.93 million, primarily due to reduced fuel cell system sales, leading to an expanded operating loss and an increased net loss attributable to shareholders of RMB 163.43 million Changes in Key Items of Consolidated Income Statement (For the six months ended June 30, 2025 vs. June 30, 2024) | Item | 2025 (RMB yuan) | 2024 (RMB yuan) | Year-on-year Change (RMB yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 71,929,258.41 | 153,843,525.55 | -81,914,267.14 | -53.25% | | Total Operating Costs | 234,704,181.06 | 311,105,634.20 | -76,401,453.14 | -24.55% | | Of which: Operating Costs | 90,220,424.30 | 128,182,431.97 | -37,962,007.67 | -29.62% | | Selling Expenses | 22,562,159.50 | 26,334,247.30 | -3,772,087.80 | -14.32% | | Administrative Expenses | 98,341,944.00 | 104,470,916.99 | -6,128,972.99 | -5.87% | | R&D Expenses | 17,174,589.82 | 50,534,103.58 | -33,359,513.76 | -66.01% | | Financial Expenses | 4,730,217.01 | 40,122.08 | 4,690,094.93 | 11689.56% | | Investment Income | -38,075,319.83 | -17,451,849.93 | -20,623,469.90 | -118.17% | | Gains from changes in fair value | 2,111,040.20 | 7,029,295.56 | -4,918,255.36 | -69.97% | | Operating Profit | -200,328,816.28 | -182,075,291.47 | -18,253,524.81 | -10.02% | | Net Profit | -170,390,756.85 | -200,359,399.71 | 29,968,642.86 | 14.96% | | Net Profit Attributable to Shareholders of Listed Company | -163,427,812.69 | -141,489,332.28 | -21,938,480.41 | -15.50% | | Basic Loss Per Share | -0.71 | -0.61 | -0.10 | -16.39% | [Notes to Financial Statements](index=10&type=section&id=Notes%20to%20Financial%20Statements) This section provides detailed notes on the company's accounting policies, estimates, and specific financial statement items [General Information](index=10&type=section&id=General%20Information) Beijing SinoHytec Co., Ltd. is a leading Chinese fuel cell system manufacturer for commercial vehicles, established in 2012, with revenue primarily from fuel cell system sales, component sales, and technical services, and its shares are listed on both the Hong Kong and Shanghai stock exchanges - The company is a leading Chinese fuel cell system manufacturer, primarily designing, developing, and manufacturing fuel cell systems and stacks for commercial vehicles such as buses and trucks[13](index=13&type=chunk) - The company's main revenue sources include sales of fuel cell systems, fuel cell components, and provision of technical services[13](index=13&type=chunk) - The company's ordinary shares are listed on both The Stock Exchange of Hong Kong Limited and the Shanghai Stock Exchange[14](index=14&type=chunk) [Basis of Preparation](index=10&type=section&id=Basis%20of%20Preparation) The financial data in this interim results announcement is extracted from unaudited internal financial statements, prepared in accordance with China Accounting Standards for Business Enterprises, and complies with disclosure requirements of the Hong Kong Companies Ordinance and HKEX Listing Rules, with no material uncertainties regarding the company's ability to continue as a going concern for the next 12 months - The financial statements are prepared in accordance with China Accounting Standards for Business Enterprises and comply with the disclosure requirements of the Hong Kong Companies Ordinance and the HKEX Listing Rules[15](index=15&type=chunk) - The company has assessed its ability to continue as a going concern for 12 months from the end of the reporting period, found no material uncertainties, and thus prepared the financial statements on a going concern basis[15](index=15&type=chunk) [Significant Accounting Policies, Accounting Estimates and Methods of Preparation of Consolidated Financial Statements](index=10&type=section&id=Significant%20Accounting%20Policies%2C%20Accounting%20Estimates%20and%20Methods%20of%20Preparation%20of%20Consolidated%20Financial%20Statements) The company's accounting period is January 1 to December 31, with RMB as the functional currency; consolidated financial statements are prepared based on control, including all subsidiaries with unified accounting policies and periods, and the Ministry of Finance's Interpretation No. 18 of Accounting Standards for Business Enterprises impacted accounting for warranty-type quality assurance provisions, resulting in a RMB 1,587,461.69 decrease in selling expenses and an equal increase in operating costs - The company's accounting period is from January 1 to December 31 of the Gregorian calendar, and the functional currency is RMB[16](index=16&type=chunk)[17](index=17&type=chunk) - Consolidated financial statements are prepared based on control to determine the scope of consolidation, with all subsidiaries included and their accounting policies and periods unified[18](index=18&type=chunk) Impact of Interpretation No. 18 of Accounting Standards for Business Enterprises on Financial Statement Items for January-June 2024 | Affected Financial Statement Item | January–June 2024 (RMB yuan) | | :--- | :--- | | Selling Expenses | -1,587,461.69 | | Operating Costs | 1,587,461.69 | [Operating Revenue and Operating Costs](index=12&type=section&id=Operating%20Revenue%20and%20Operating%20Costs) For the six months ended June 30, 2025, the company's main business revenue decreased by 53.40% to RMB 71.12 million, primarily due to a significant reduction in fuel cell system sales, while main business costs decreased by 29.60% to RMB 89.85 million, with fuel cell system revenue accounting for 71.20% of main business revenue despite a 53.73% year-on-year decline Details of Operating Revenue and Operating Costs (For the six months ended June 30, 2025 vs. June 30, 2024) | Item | 2025 (RMB yuan) | 2024 (RMB yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Main Business Revenue | 71,122,996.84 | 152,555,616.42 | -53.40% | | Other Business Revenue | 806,261.57 | 1,287,909.13 | -37.39% | | **Total Operating Revenue** | **71,929,258.41** | **153,843,525.55** | **-53.25%** | | Main Business Costs | 89,845,402.30 | 127,610,449.40 | -29.60% | | Other Business Costs | 375,022.00 | 571,982.57 | -34.44% | | **Total Operating Costs** | **90,220,424.30** | **128,182,431.97** | **-29.62%** | Details of Main Business Revenue (For the six months ended June 30, 2025 vs. June 30, 2024) | Item | 2025 (RMB yuan) | 2024 (RMB yuan) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | | Fuel Cell Systems | 50,642,296.45 | 109,418,025.07 | -53.73% | | Components | 2,173,862.78 | 24,551,506.10 | -91.14% | | Technology Development and Services | 8,519,193.20 | 6,825,639.15 | 24.81% | | Others | 9,787,644.41 | 11,760,446.10 | -16.78% | | **Total** | **71,122,996.84** | **152,555,616.42** | **-53.40%** | [Accounts Receivable](index=13&type=section&id=Accounts%20Receivable) As of June 30, 2025, the company's net accounts receivable slightly decreased to RMB 1.478 billion from RMB 1.548 billion at the end of 2024, with the total balance at RMB 2.130 billion, showing a decrease in receivables aged within one year but an increase in those aged one to two years and three to four years, indicating extended collection cycles Accounts Receivable Balance and Provision for Bad Debts (June 30, 2025 vs. December 31, 2024) | Item | June 30, 2025 (RMB yuan) | December 31, 2024 (RMB yuan) | | :--- | :--- | :--- | | Accounts Receivable Balance | 2,129,999,367.34 | 2,195,580,854.96 | | Less: Provision for Bad Debts | 652,327,851.88 | 648,071,553.84 | | Net Accounts Receivable | 1,477,671,515.46 | 1,547,509,301.12 | Accounts Receivable Aging Analysis (June 30, 2025 vs. December 31, 2024) | Aging | June 30, 2025 (RMB yuan) | December 31, 2024 (RMB yuan) | | :--- | :--- | :--- | | Within 1 year | 269,123,796.53 | 365,276,012.90 | | 1 to 2 years | 810,217,998.77 | 777,239,088.68 | | 2 to 3 years | 457,695,010.79 | 498,177,597.19 | | 3 to 4 years | 266,223,559.53 | 225,801,954.47 | | 4 to 5 years | 15,989,981.27 | 18,337,181.27 | | Over 5 years | 310,749,020.45 | 310,749,020.45 | | **Total** | **2,129,999,367.34** | **2,195,580,854.96** | [Accounts Payable](index=14&type=section&id=Accounts%20Payable) As of June 30, 2025, the company's total accounts payable slightly decreased to RMB 650 million from RMB 670 million at the end of 2024, with a decline in payables aged within one year but an increase in those aged two to three years and over three years, indicating extended payment cycles to some suppliers Accounts Payable Aging Analysis (June 30, 2025 vs. December 31, 2024) | Aging | June 30, 2025 (RMB yuan) | December 31, 2024 (RMB yuan) | | :--- | :--- | :--- | | Within 1 year | 270,023,331.61 | 336,343,117.90 | | 1–2 years | 274,478,100.33 | 286,384,082.60 | | 2–3 years | 84,112,320.45 | 35,197,061.34 | | Over 3 years | 21,156,789.09 | 11,701,381.26 | | **Total** | **649,770,541.48** | **669,625,643.10** | [Income Tax Expense](index=14&type=section&id=Income%20Tax%20Expense) For the six months ended June 30, 2025, the company's income tax expense significantly decreased to RMB -0.59 million from RMB -11.28 million in the prior year, primarily due to a reduction in deferred income tax expense from RMB -11.24 million to RMB -1.82 million Details of Income Tax Expense (For the six months ended June 30, 2025 vs. June 30, 2024) | Item | 2025 (RMB yuan) | 2024 (RMB yuan) | | :--- | :--- | :--- | | Current Income Tax Expense | 1,230,436.49 | -40,189.92 | | Deferred Income Tax Expense | -1,817,510.31 | -11,243,807.08 | | **Total** | **-587,073.82** | **-11,283,997.00** | [Return on Net Assets and Earnings (Loss) Per Share](index=15&type=section&id=Return%20on%20Net%20Assets%20and%20Earnings%20(Loss)%20Per%20Share) For the six months ended June 30, 2025, the company's weighted average return on net assets attributable to ordinary shareholders was -6.59%, with basic and diluted loss per share both at RMB 0.71, while after deducting non-recurring gains and losses, the weighted average return on net assets was -7.03%, and basic and diluted loss per share were both RMB 0.75 Return on Net Assets and Earnings (Loss) Per Share (For the six months ended June 30, 2025) | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Basic Earnings Per Share (RMB/share) | Diluted Earnings Per Share (RMB/share) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Ordinary Shareholders of the Company | -6.59 | -0.71 | -0.71 | | Net Profit Attributable to Ordinary Shareholders of the Company After Deducting Non-recurring Gains and Losses | -7.03 | -0.75 | -0.75 | [Dividends](index=15&type=section&id=Dividends) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the corresponding period in 2024 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (2024 corresponding period: nil)[26](index=26&type=chunk) [Management Discussion and Analysis](index=16&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the company's operational performance, key financial changes, and strategic outlook for future development [Business Review](index=16&type=section&id=Business%20Review) In H1 2025, the company actively pursued its development strategy, focusing on core businesses, fostering new growth areas, and optimizing asset structure; however, total operating revenue decreased by 53.25% and net loss attributable to shareholders increased due to a decline in fuel cell market demand and cautious marketing, while the company continued R&D and expanded product applications to cold chain, sanitation, and heavy trucks - The company actively promoted its development strategy and operational goals, focusing on core businesses, cultivating a second growth curve, optimizing asset structure, and strengthening industrial chain collaboration[27](index=27&type=chunk) - Total operating revenue decreased by **53.25%** year-on-year to **RMB 71.93 million**, with total sales power of fuel cell systems decreasing by **56.54%**, and net loss attributable to shareholders increasing by **RMB 21.94 million**, primarily due to declining market demand and cautious marketing strategies[28](index=28&type=chunk) - The company adheres to the R&D philosophy of "researching one generation, developing one generation, and promoting one generation," focusing on core technical indicators such as environmental adaptability, durability, and reliability of fuel cell systems[28](index=28&type=chunk) - The company's product application scenarios have further expanded to multiple areas such as cold chain transportation, sanitation, and heavy trucks, and are operational in several demonstration cities[28](index=28&type=chunk) Reasons for Changes in Key Expenses and Income | Item | Change (%) | Reason | | :--- | :--- | :--- | | Operating Revenue | -53.25 | Product fuel cell system sales decreased | | Financial Expenses | 11,689.56 | Decrease in interest income | | R&D Expenses | -66.01 | R&D team optimization, reduced outsourced R&D, focus on technology iteration | | Gains from changes in fair value | -69.97 | Decrease in interest income from wealth management products | [Outlook for the Company's Future Development](index=18&type=section&id=Outlook%20for%20the%20Company%27s%20Future%20Development) The company is confident in the significant growth potential of the fuel cell industry, projecting over one million fuel cell vehicles in China by 2035, and aims to become a world-leading fuel cell system supplier and global technology leader by optimizing R&D, expanding customer base and geographical coverage, strengthening the supply chain, enhancing corporate management, and integrating across the industrial chain - The company believes the Chinese government will continue to implement strong supportive policies to promote the development of hydrogen energy-related industries, projecting that the number of fuel cell vehicles in China will exceed **1 million** by **2035**[31](index=31&type=chunk) - The company is committed to becoming a world-leading fuel cell system supplier and a global leader in fuel cell technology[31](index=31&type=chunk) - Continue to optimize the R&D of fuel cell systems and core components, improving product adaptability to harsh weather, high-temperature resistance, durability, reliability, energy conversion efficiency, safety, and economic viability[31](index=31&type=chunk) - Strategically expand the customer base and geographical coverage, utilize new-generation R&D platforms to improve products, increase product portfolio, and broaden the application scenarios of fuel cell systems in commercial heavy-duty categories (e.g., heavy trucks)[32](index=32&type=chunk) - Expand and strengthen the supply chain, deepen cooperation with suppliers, identify alternative suppliers, and pursue vertical integration of the supply chain and resources to reduce raw material costs, ensure supply chain stability, and improve product quality[33](index=33&type=chunk) - Strengthen corporate management and optimize operational efficiency by building a high-quality professional talent team, improving the management system, optimizing the organizational structure, and comprehensively enhancing corporate governance[34](index=34&type=chunk) - Extend and integrate into the upstream and downstream of the industrial chain, entering the "production-storage-transportation-refueling-R&D-application" industrial segments to achieve chain extension and supplementation, broaden application scenarios, and enhance comprehensive strength[35](index=35&type=chunk) [Corporate Governance and Other Information](index=20&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section covers changes in the company's consolidation scope, audit committee review, corporate governance practices, securities trading standards, and global offering proceeds [Changes in Consolidation Scope](index=20&type=section&id=Changes%20in%20Consolidation%20Scope) During the reporting period, the company newly included nine subsidiaries in its consolidation scope, such as Zhangjiakou Lingtan Technology Co., Ltd., Zigong SinoHytec Hydrogen Energy Technology Co., Ltd., and Guyuan Tongyuan New Energy Co., Ltd., primarily established between April and June 2025 Newly Included Subsidiaries in Consolidation Scope During the Reporting Period | Name | Date of Establishment | | :--- | :--- | | Zhangjiakou Lingtan Technology Co., Ltd. | April 11, 2025 | | Zigong SinoHytec Hydrogen Energy Technology Co., Ltd. | April 23, 2025 | | Guyuan Tongyuan New Energy Co., Ltd. | May 21, 2025 | | Shenqili Chong (Nan) Technology Co., Ltd. | May 23, 2025 | | Shurong Space (Sichuan) Hydrogen Technology Co., Ltd. | May 26, 2025 | | Guyuan Yigu New Energy Co., Ltd. | June 12, 2025 | | Guyuan Tonggu New Energy Co., Ltd. | June 12, 2025 | | Guyuan Yifeng New Energy Co., Ltd. | June 12, 2025 | | Guangxi Hydrogen Energy Technology Innovation Center Co., Ltd. | June 23, 2025 | [Audit Committee and Review of Financial Data Contained in This Announcement](index=21&type=section&id=Audit%20Committee%20and%20Review%20of%20Financial%20Data%20Contained%20in%20This%20Announcement) The company's Audit Committee, comprising three independent non-executive directors, is responsible for reviewing financial reporting procedures, internal controls, external auditor appointments, and financial statements, and has reviewed and confirmed the unaudited interim results announcement for the six months ended June 30, 2025 - The Audit Committee is composed of three independent non-executive directors, responsible for reviewing financial reporting procedures, internal controls, and providing recommendations for the appointment of external auditors[37](index=37&type=chunk) - The Audit Committee has reviewed and confirmed the unaudited interim results announcement for the six months ended June 30, 2025[38](index=38&type=chunk) [Corporate Governance Code](index=21&type=section&id=Corporate%20Governance%20Code) During the reporting period, the company complied with the Corporate Governance Code in Appendix C1 of the HKEX Listing Rules, except for the combined roles of Chairman and Chief Executive Officer held by Mr. Zhang Guoqiang, which the Board believes ensures consistent leadership and enhances strategic planning efficiency - The company complied with the code provisions set out in the Corporate Governance Code during the reporting period, except that the roles of Chairman and Chief Executive Officer are combined and held by Mr. Zhang Guoqiang[39](index=39&type=chunk) - The Board believes that combining the roles of Chairman and General Manager ensures consistent leadership for the Group, making overall strategic planning more effective and efficient[39](index=39&type=chunk) [Standard Code for Securities Transactions by Directors and Supervisors](index=22&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors%20and%20Supervisors) The company has adopted a code of conduct for securities transactions by directors and supervisors that is no less exacting than the Standard Code in Appendix C3 of the Listing Rules, and all directors and former supervisors (whose board was abolished on June 20, 2025) confirmed compliance during the reporting period - The company has adopted a code of conduct for securities transactions by directors and supervisors that is no less exacting than the Standard Code set out in Appendix C3 of the Listing Rules[41](index=41&type=chunk) - The company's supervisory board was abolished on **June 20, 2025**[41](index=41&type=chunk) - All directors and former supervisors have complied with the required standards for securities transactions by directors as set out in the Standard Code[41](index=41&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=22&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the reporting period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities, and as of June 30, 2025, the company held no treasury shares - During the reporting period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[42](index=42&type=chunk) - As of **June 30, 2025**, the company held no treasury shares[42](index=42&type=chunk) [Use of Proceeds from Global Offering](index=22&type=section&id=Use%20of%20Proceeds%20from%20Global%20Offering) The company received net proceeds of approximately HKD 1.022 billion from its global offering, which will be utilized progressively in accordance with the purposes outlined in the prospectus dated December 29, 2022 - The company received net proceeds of approximately **HKD 1.022 billion** from its global offering[43](index=43&type=chunk) - The proceeds will be utilized progressively in accordance with the purposes set out in the company's prospectus dated **December 29, 2022**[43](index=43&type=chunk) [Material Matters](index=23&type=section&id=Material%20Matters) This section details the company's significant external investment plans and proposed share issuance for acquisition and fundraising [Significant External Investments and Issuance of Shares and Bonds](index=23&type=section&id=Significant%20External%20Investments%20and%20Issuance%20of%20Shares%20and%20Bonds) The company plans to acquire 100% equity of Dingzhou Xuyang Hydrogen Energy Co., Ltd. through share issuance, concurrently raising supporting funds not exceeding 100% of the asset acquisition price and with share issuance not exceeding 30% of the company's total share capital before the issuance, pending approval from the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission - The company intends to acquire **100%** equity of Dingzhou Xuyang Hydrogen Energy Co., Ltd. through share issuance, while simultaneously raising supporting funds[45](index=45&type=chunk)[46](index=46&type=chunk) - Upon completion of this transaction, Xuyang Hydrogen Energy will become a wholly-owned subsidiary of the company[45](index=45&type=chunk) - The total amount of supporting funds to be raised will not exceed **100%** of the transaction price for the share issuance to acquire assets, and the number of shares issued will not exceed **30%** of the company's total share capital prior to this issuance[47](index=47&type=chunk) - The final transaction plan and issuance quantity are subject to approval by the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission[46](index=46&type=chunk)[47](index=47&type=chunk) [Other Information](index=24&type=section&id=Other%20Information) This section provides details on the publication of the interim results announcement and the upcoming interim report [Publication of Interim Results Announcement and Interim Report](index=24&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) This announcement has been published on the company's website (http://www.sinohytec.com/) and the HKEX website (www.hkexnews.hk), and the company's interim report for the six months ended June 30, 2025, will be published on these websites in due course - This announcement has been published on the company's website (http://www.sinohytec.com/) and the HKEX website (www.hkexnews.hk)[48](index=48&type=chunk) - The company's interim report for the six months ended **June 30, 2025**, will be published on the aforementioned websites in due course[48](index=48&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 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國能源建設股份有限公司 CHINA ENERGY ENGINEERING CORPORATION LIMITED* （在中華人民共和國註冊成立的股份有限公司） （股份代號：3996） 截至2025年6月30日止六個月之中期業績公告 中國能源建設股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬公司 截至2025年6月30日止六個月之未經審核的半年度業績（「半年度業績」）。本公告刊載本公 司二零二五年半年度報告全文，並符合《香港聯合交易所有限公司證券上市規則》有關中 期業績初步公告的要求。半年度業績乃根據中國企業會計準則編製，並經天健會計師事 務所（特殊普通合夥）審閱。董事會及董事會審計委員會已審閱及確認半年度業績。 本公司二零二五年半年度報告的印刷版本將僅寄發予向本公司提出索取要求的股東，並 可在香港聯合交易所有限公司披露易網站（www.hkexnews.hk）及本公司網站（www. ...