Financial Performance - The company reported revenue of HKD 5,683,972,000 for the six months ended September 30, 2025, an increase of 28.2% compared to HKD 4,433,441,000 in the same period of 2024[3] - Gross profit rose from HKD 320,946,000 to HKD 348,029,000, reflecting a growth of 8.4%[4] - Profit attributable to equity holders increased from HKD 24,619,000 to HKD 39,198,000, representing a significant increase of 59.5%[5] - Basic and diluted earnings per share improved to HKD 0.0895 from HKD 0.0562, marking a rise of 59.5%[6] - Total comprehensive income for the period was HKD 57,890,000, up from HKD 45,544,000, indicating a growth of 27.3%[8] - The overall profit before tax for the period was HKD 46,857,000, compared to HKD 35,492,000 for the same period in 2024, reflecting a growth of 32.1%[23] - The net profit for the period was HKD 38,667,000, an increase from HKD 23,153,000 in the previous year, representing a growth of 66.8%[23] Revenue Breakdown - Revenue from the construction segment reached HKD 4,203,006,000, up 22.5% from HKD 3,430,681,000 in the previous year[20] - The electromechanical installation segment generated revenue of HKD 1,319,367,000, a 39.6% increase from HKD 945,200,000 in the prior year[20] - Property investment and development revenue rose significantly to HKD 59,585,000 from HKD 10,878,000, marking a growth of 448.5%[20] - The hotel operations segment reported revenue of HKD 4,767,000, with no revenue recorded in the same period last year[20] - The group's total external revenue from construction, electromechanical installation, and other segments accounted for HKD 5,683,972,000, with significant contributions from each segment[23] Assets and Liabilities - Total assets increased to HKD 6,680,570,000 from HKD 6,571,231,000, a rise of 1.7%[10] - Cash and bank balances rose to HKD 833,521,000 from HKD 770,225,000, an increase of 8.2%[9] - The company's total liabilities increased slightly to HKD 5,252,571,000 from HKD 5,201,122,000, a rise of 1.0%[10] - The net accounts receivable increased from HKD 1,090,240,000 as of March 31, 2025, to HKD 1,360,718,000 as of September 30, 2025, indicating a rise of approximately 24.7%[31] - The total liabilities for accounts payable and subcontractors decreased from HKD 929,635,000 in March 2025 to HKD 661,345,000 in September 2025, a decline of about 29.0%[32] Dividends and Shareholder Returns - The company did not declare an interim dividend for the current period, compared to HKD 10,951,000 in the previous period[7] - The company did not declare an interim dividend for 2025, compared to an interim dividend of HKD 0.025 per share in 2024, to retain cash for future projects[29] Operational Insights - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and service offerings[19] - The group has identified key operational decision-makers as executive directors responsible for resource allocation and strategic decisions[21] - Long-term strategies will focus on innovation and sustainability, with active exploration of AI applications to enhance competitiveness and market share[44] - The company aims to deliver high-quality projects on time while ensuring reasonable profits, amidst industry challenges such as labor shortages and rising costs[44] Cost Management - Construction costs increased significantly from HKD 3,207,425,000 in 2024 to HKD 4,007,736,000 in 2025, representing a rise of about 24.9%[25] - Total finance costs decreased from HKD 69,984,000 in 2024 to HKD 53,029,000 in 2025, a reduction of approximately 24.3%[26] - Other income decreased from HKD 15,032,000 in 2024 to HKD 11,750,000 in 2025, a decline of approximately 21.5%[24] Employee and Market Developments - The number of employees increased to approximately 4,600 as of September 30, 2025, up from 4,500 on March 31, 2025[42] - The hotel in Sheung Wan reopened in mid-August under the "Hilton Garden Inn Hong Kong" brand, marking the first Garden Inn in the Asia-Pacific region[44] - The hotel achieved a stable occupancy rate since opening, attracting over 1 million visitors during the October Golden Week, with 60% being overnight guests[44] Future Outlook - The company expects no significant impact on its tax situation from the new tax regulations effective January 1, 2025[27] - The group has secured two contracts in the growing infrastructure and environmental sector, totaling nearly HKD 2,000,000,000[43] - As of September 30, 2025, the value of contracts on hand was approximately HKD 46,663,000,000, down from HKD 48,207,000,000 on March 31, 2025[38]

Financial Performance - Total proceeds from the sale of trading securities reached HKD 52,496,000, up 64.3% from HKD 31,920,000 in the previous year[3] - Revenue for the period was HKD 3,171,000, a decrease of 22.9% compared to HKD 4,118,000 in the prior year[3] - Net profit before tax increased to HKD 7,413,000, representing a growth of 29.5% from HKD 5,726,000 in the previous year[3] - Earnings per share rose to HKD 0.58, up 28.9% from HKD 0.45 in the prior year[3] - The net profit for the six months ended September 30, 2025, was approximately HKD 7,410,000, an increase of about 29.5% from HKD 5,730,000 in the same period last year[19] - Other income increased to HKD 259,000, up 110.6% from HKD 123,000 in the prior year[12] Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 100,482,000, an increase from HKD 93,378,000 as of March 31, 2025[4] - Cash and cash equivalents decreased to HKD 18,161,000 from HKD 30,578,000, indicating a decline of 40.6%[4] - The fair value of listed equity securities increased to HKD 75,879,000 as of September 30, 2025, up from HKD 62,565,000 as of March 31, 2025[16] - The net asset value rose by approximately 8.1% to HKD 100,399,000 from HKD 92,986,000 as of March 31, 2025[17] - The cash levels as of September 30, 2025, were approximately HKD 18,200,000, compared to HKD 30,600,000 as of March 31, 2025[19] - The group had no credit or debt ratio as of September 30, 2025, maintaining a debt-free status[38] Investment Strategy - The company plans to maintain a cautious and pragmatic investment approach while optimizing its portfolio for better shareholder returns[23] - The company will continue to focus on high-dividend listed securities and maintain sufficient liquidity for future investment opportunities[23] - The company’s investment strategy includes a diversified portfolio across various sectors, including telecommunications, transportation, and real estate[20] - As of September 30, 2025, the group's top ten listed equity investments accounted for 71.16% of total assets, with a fair value of HKD 71,493 million[24] Dividends and Shareholder Returns - There were no interim dividends declared for the six months ended September 30, 2025[18] - The board decided not to declare an interim dividend for the period[39] Market Performance - The Hang Seng Index rose approximately 16.2% from 23,119 at the end of March 2025 to 26,855 by the end of September 2025[22] Employment and Governance - The group employed a total of 3 full-time employees as of September 30, 2025, down from 4 in 2024[49] - The board of directors confirmed compliance with the standard code for securities trading throughout the period[56] - The company has established a remuneration committee and a nomination committee, both comprising independent non-executive directors[53][54] Other Financial Information - The group reported a net gain of HKD 7,085,000 from financial assets measured at fair value, significantly up from HKD 3,548,000 in the previous year[11] - Investment management fees paid to related companies were HKD 719,000, an increase of 9.3% from HKD 658,000 in the previous year[13] - The group did not make any provision for Hong Kong profits tax due to offsetting previous unrecognized tax losses[14] - The group received approximately HKD 179,000 in dividends from CK Hutchison and HKD 243,000 from Power Assets as of September 30, 2025[25][26] - The group holds 40,000 shares of CK Hutchison, representing 0.001% of its issued share capital, and 126,000 shares of Power Assets, representing 0.006% of its issued share capital[25][26] - The group plans to continue focusing on capital expenditure management and cash flow to maintain financial stability amid external challenges[25] - The group has no foreign exchange risk due to conducting business primarily in Hong Kong dollars[43] - As of September 30, 2025, the group has no significant capital commitments or contingent liabilities[41] - There were no major acquisitions or disposals of subsidiaries or associates during the period[42] - There were no repurchases, sales, or redemptions of the company's listed securities during the six months ended September 30, 2025[55] - The interim report for 2025 will be sent to shareholders and published on the stock exchange and the company's website[57]

Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 996,988,000, representing an increase of 4.1% compared to RMB 957,821,000 for the same period in 2024[5] - Gross profit for the same period was RMB 151,014,000, up 7.0% from RMB 140,180,000 in 2024[5] - The company reported a profit before tax of RMB 79,565,000, compared to a loss of RMB 13,634,000 in the previous year[6] - Net profit for the period was RMB 57,520,000, a significant recovery from a loss of RMB 15,875,000 in 2024[6] - Basic earnings per share for the period was RMB 19.77, compared to a loss per share of RMB 5.76 in the previous year[6] - Revenue from customer contracts for the six months ended June 30, 2025, was RMB 992,258,000, an increase of 3.5% compared to RMB 955,895,000 for the same period in 2024[13] - Total rental income from investment properties for the six months ended June 30, 2025, was RMB 4,730,000, up 145.5% from RMB 1,926,000 in 2024[13] - Property management service revenue for the six months ended June 30, 2025, was RMB 789,785,000, a 14.8% increase from RMB 688,223,000 in 2024[14] - Revenue from value-added services decreased by approximately 24.4% to about RMB 202.5 million for the six months ending June 30, 2025, compared to RMB 267.7 million for the same period in 2024[40] Assets and Liabilities - Total assets as of June 30, 2025, were RMB 536,333,000, down from RMB 559,257,000 as of December 31, 2024[7] - Current liabilities decreased to RMB 822,624,000 from RMB 1,004,885,000 in the previous period, indicating improved liquidity[8] - The company's net asset value increased to RMB 266,378,000 from RMB 213,466,000 in the previous year, reflecting a stronger financial position[8] - Cash and cash equivalents decreased to RMB 195,945,000 from RMB 394,377,000, indicating a need for cash management strategies[7] - Trade receivables as of June 30, 2025, amounted to RMB 613,101,000, an increase of 22.3% from RMB 501,276,000 as of December 31, 2024[21] - The group's trade payables were approximately RMB 100.1 million as of June 30, 2025, a decrease of about 21.0% from RMB 126.7 million as of December 31, 2024[56] - As of June 30, 2025, the group's contract liabilities were approximately RMB 308.9 million, a decrease of about 25.0% from RMB 412.1 million as of December 31, 2024[58] Operational Highlights - The company managed a total of 807 properties as of June 30, 2025, serving over 590,000 households and covering a population of more than 1.9 million[24] - The company operates in 22 cities across China, with 20 cities located in the Yangtze River Delta metropolitan area[24] - The total number of managed properties decreased by 25.6% from 1,084 in 2024 to 807 in 2025, with a significant reduction of 36.5% in Nanjing, primarily due to the group's proactive exit from loss-making projects[29] - The number of non-residential properties under management increased by 2.3% to 447 in 2025, while residential properties decreased by 44.4% to 360[32] - Approximately 94.2% of the group's projects were obtained from the market, primarily from property developers or independent third parties[34] Corporate Governance and Compliance - The company has committed to maintaining high standards of corporate governance and has adopted the corporate governance code as part of its practices[78] - The audit committee, consisting of three independent non-executive directors, has reviewed and discussed the unaudited interim consolidated financial information for the six months ending June 30, 2025[80] - The company has confirmed compliance with the standards set forth in the securities trading code and has not identified any violations for the six months ending June 30, 2025[81] - The company has not purchased appropriate insurance for its directors and senior officers against potential legal actions, despite reasonable efforts to obtain such coverage[79] Trading Status and Future Outlook - The company has been suspended from trading since August 28, 2024, and will remain suspended until further notice[9] - As of November 11, 2024, the company received guidance from the stock exchange regarding the resumption of trading, which includes publishing all outstanding financial results and conducting appropriate independent investigations[71] - The company must remedy the issues leading to its suspension by February 27, 2026, or risk losing its listing status[72] - The company has taken measures to comply with the resumption guidance and will provide further announcements regarding compliance progress[73] Employee and Management Changes - The group employed a total of 10,987 employees as of June 30, 2025, providing competitive compensation packages including various social insurances[65] - There were significant changes in the board of directors, including the resignation of the acting CEO and the appointment of a new chairman[75]

Revenue Growth - Total revenue for Q3 2025 increased by 144.3% year-over-year to RMB 171 million (USD 24 million), marking one of the largest revenue increases in the company's history[9] - Product revenue and service revenue grew by 428.0% and 66.9% year-over-year to RMB 79.2 million (USD 11.1 million) and RMB 91.8 million (USD 12.9 million), respectively[9] - In Q3 2025, the company's total revenue reached RMB 171 million (USD 24 million), representing a year-on-year growth of 144.3% compared to RMB 70 million in the same period of 2024[21] - Total revenue for the nine months ended September 30, 2025, was RMB 370.6 million, a significant increase from RMB 220.3 million in the same period of 2024, representing a growth of 68.3%[45] Autonomous Taxi Services - Autonomous taxi revenue surged by 761.0% year-over-year to RMB 35.3 million (USD 5 million), accounting for 20.7% of total revenue, up from 5.8% in Q3 2024[9] - The revenue from autonomous taxi services surged by 761.0%, validating the company's technological capabilities from both third-party and end-user perspectives[19] - The company received a commercial operating license for fully autonomous taxis in Abu Dhabi, enabling unit economic breakeven for its fleet[9] - The company aims to expand its autonomous taxi fleet in the Middle East to tens of thousands of vehicles by 2030[12] - The company is set to deploy tens of thousands of autonomous taxis by 2030, aiming for unit economic breakeven in Abu Dhabi[19] Financial Performance - Gross profit for Q3 2025 increased by 1,123.9% year-over-year to RMB 56.3 million (USD 7.9 million), with a gross margin of 32.9%, significantly up from 6.5% in Q3 2024[9] - Operating expenses decreased to RMB 435.8 million (USD 61.2 million) from RMB 895.7 million in the same quarter of 2024[24] - Net loss for Q3 2025 was RMB 307.3 million (USD 43.2 million), compared to a net loss of RMB 1.0427 billion in Q3 2024[30] - Adjusted net loss for Q3 2025 was RMB 275.6 million (USD 38.7 million), compared to RMB 240.3 million in Q3 2024[30] - The company reported a net loss of RMB 1,098.8 million for the nine months ended September 30, 2025, compared to a net loss of RMB 1,924.4 million in the same period of 2024, showing a reduction in losses by 42.9%[46] Research and Development - R&D expenses increased by 39.4% to RMB 316.4 million (USD 44.4 million) due to enhanced global data compliance and advancements in autonomous taxi development[24] - Research and development expenses for the nine months ended September 30, 2025, totaled RMB 961.0 million, an increase from RMB 771.4 million in the same period of 2024, representing a rise of 24.6%[45] Operational Expansion - The fleet size exceeded 1,600 autonomous vehicles, with nearly 750 being autonomous taxis, and operational permits obtained in eight countries[9] - The company plans to deploy over 500 autonomous vehicles in Hong Kong over the next three years, starting with operations at Hong Kong International Airport[12] - A new point-to-point service feature for autonomous taxis was launched in Guangzhou and Beijing, enhancing user convenience and operational efficiency[12] - In Guangzhou, the company provided services to over one million public passengers with its autonomous minibuses by September 30, 2025[16] - The company expanded its autonomous sanitation vehicle services to Singapore, UAE, and Saudi Arabia, alongside ongoing operations in several Chinese cities[17] Market Position and Recognition - The company completed its dual primary listing on the Hong Kong Stock Exchange on November 6, 2025, raising approximately HKD 2.39 billion (USD 305 million) by issuing 88.25 million shares at HKD 27.1 each[33] - The company is the first autonomous taxi company to be publicly traded on both Hong Kong and U.S. exchanges, enhancing its visibility and capital market position[33] - The company operates in over 30 cities across 11 countries, holding autonomous driving licenses in 8 markets including China, Switzerland, and the U.S.[37] - The company was recognized in Fortune's "2025 Change the World Companies" list and ranked among the "2025 Global Future 50" by Fortune magazine[37] Cash and Assets - As of September 30, 2025, the company had cash and cash equivalents totaling RMB 5.4 billion (USD 764.1 million)[9] - Cash and cash equivalents were RMB 3,452.3 million as of September 30, 2025, down from RMB 4,268.3 million as of December 31, 2024[41] - Total assets as of September 30, 2025, were RMB 7,021.8 million, a decrease from RMB 7,693.8 million as of December 31, 2024[41] - Total liabilities as of September 30, 2025, amounted to RMB 805.5 million, compared to RMB 627.8 million as of December 31, 2024, indicating an increase of 28.3%[43]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承 擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：851） 有關截至二零二四年十二月三十一日 止年度之年度報告 之補充公告 茲提述盛源控股有限公司（「本公司」）於二零二五年四月二十五日刊發之截 至二零二四年十二月三十一日止年度之年度報告（「二零二四年年報」）。除 非文義另有指明，否則本公告所用詞彙與二零二四年年報所界定者具有相 同涵義。本公告為二零二四年年報之補充資料，應與二零二四年年報一併 閱讀。 購股權計劃 除二零二四年年報所載資料外，本公司謹根據上市規則第17.07條及第 17.09條，向本公司股東及潛在投資者提供有關二零一四年計劃之以下補充 資料。 (a) 可供授出的購股權數目 於二零二四年一月一日，根據二零一四年計劃可供授出的購股權所涉 及之股份數目為16,120,129股（佔本公司於二零二四年年報日期已發行 股份總數約1.83%）。由於二零一四年計劃已於二零二四年十月十四日 屆滿，故於二零二四年 ...

Financial Performance - Revenue for the six months ended August 31, 2025, was SGD 133,385,000, an increase of 44.7% compared to SGD 92,208,000 for the same period in 2024[10] - Gross profit for the same period was SGD 13,672,000, representing a 58.5% increase from SGD 8,630,000 in 2024[10] - Profit before tax increased to SGD 8,209,000, up 111.4% from SGD 3,876,000 in the previous year[10] - Net profit for the period was SGD 6,944,000, a 115.5% increase compared to SGD 3,223,000 in 2024[10] - Total comprehensive income for the period was SGD 6,462,000, compared to SGD 2,953,000 in the same period last year, reflecting a 118.5% increase[10] - Basic and diluted earnings per share for the period were SGD 0.5, compared to SGD 0.2 in the previous year, representing a 150% increase[10] - For the six months ended August 31, 2025, the company reported a pre-tax profit of 8,209 thousand SGD, compared to 3,876 thousand SGD for the same period in 2024, representing a 111% increase[15] - The total construction costs for the six months ended August 31, 2025, amounted to 119,713 thousand SGD, up 43% from 83,578 thousand SGD in 2024[37] - The total tax expense for the six months ended August 31, 2025, was 1,265 thousand SGD, which is 94% higher than the 653 thousand SGD recorded in 2024[46] - Basic earnings per share for the six months ended August 31, 2025, were 4.96 SGD, compared to 2.30 SGD in the same period last year, marking a 116% increase[48] Assets and Liabilities - Current assets as of August 31, 2025, totaled SGD 117,944,000, up from SGD 101,692,000 as of February 28, 2025[12] - Total assets increased to SGD 144,032,000 from SGD 127,254,000, indicating a growth of 13.2%[12] - Total liabilities rose to SGD 75,402,000 from SGD 67,053,000, marking an increase of 12.5%[12] - Equity attributable to owners of the company was SGD 66,663,000, up from SGD 60,201,000, reflecting a growth of 10.8%[12] - The company reported contract assets of 44,391,000 SGD as of August 31, 2025, an increase from 40,908,000 SGD as of February 28, 2025, primarily due to an increase in retention receivables[60] - The contract liabilities stood at 8,444,000 SGD as of August 31, 2025, compared to 7,086,000 SGD as of February 28, 2025, indicating an increase in construction contracts[64] - Trade payables increased to 57,539 thousand SGD as of August 31, 2025, from 47,249 thousand SGD as of February 28, 2025, reflecting a rise of 21.7%[76] - Other payables and accrued expenses rose to 8,688 thousand SGD as of August 31, 2025, compared to 10,578 thousand SGD as of February 28, 2025, showing a decrease of 17.9%[79] Cash Flow and Investments - Operating cash flow for the period was 30,030 thousand SGD, a significant increase from 450 thousand SGD in the previous year[15] - Cash and cash equivalents at the end of the period were 42,604 thousand SGD, up from 27,085 thousand SGD in the previous year[15] - The company reported a net cash outflow from investing activities of 17,187 thousand SGD, compared to a net inflow of 194 thousand SGD in 2024[15] - The group's cash and cash equivalents increased by 63.7% to approximately 75.6 million SGD as of August 31, 2025, from about 46.2 million SGD as of February 28, 2025[111] Employee and Management Costs - Employee benefits expenses, including salaries and bonuses, rose to 3,738 thousand SGD, compared to 3,185 thousand SGD in the same period last year, reflecting a 17% increase[37] - The total employee cost amounted to approximately SGD 9.9 million, an increase from SGD 9.6 million for the six months ended August 31, 2024[125] - The management's total remuneration for the six months ended August 31, 2025, was 960 thousand SGD, an increase from 728 thousand SGD in the same period last year, representing a growth of 31.8%[96] - The total remuneration for directors and executives increased to 1,001 thousand SGD, up 31% from 767 thousand SGD in 2024[41] Shareholder and Corporate Governance - Major shareholders, including Brave Ocean, hold 1,050,000,000 shares, representing 75% of the issued share capital[133] - The board members and top executives collectively own 75% of the company through Brave Ocean, which is controlled by them[129] - The company has adopted a stock option plan as a reward for directors and eligible employees[125] - There are no significant changes in the shareholdings of directors or executives as of August 31, 2025[131] - The company has adhered to the corporate governance code, except for the combined roles of Chairman and CEO held by Mr. Xu Xuping, which the board believes benefits the group's operations[138] Operational Highlights - The number of ongoing projects increased from 20 to 23, with a total contract value of approximately 710 million SGD, of which about 333 million SGD has been recognized as revenue[99] - The company operates primarily in Singapore, generating 100% of its revenue from this region[28] - The group maintains a prudent cash management policy, ensuring strong cash flow and a solid project pipeline despite ongoing geopolitical and trade tensions[100] - The company is actively hiring foreign workers from multiple countries to mitigate potential labor shortages due to regulatory changes[125] Other Financial Information - The company has no significant investments or acquisitions planned as of August 31, 2025[118] - The group reported contingent liabilities of 34.889 million SGD related to performance bonds as of August 31, 2025, up from 25.165 million SGD as of February 28, 2025[121] - No interim dividend has been recommended for the six months ended August 31, 2025, consistent with the previous year[127] - The company has no significant events to report after August 31, 2025, up to the date of this report[126] - The audit committee reviewed the unaudited interim results for the six months ending August 31, 2025, with no disagreements on accounting standards and policies[141] - The unaudited interim results announcement has been published on the Hong Kong Stock Exchange website and the company's website[142]

2025 Interim Report 中期報告 CHARACTERISTIC OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on ...

豐盛控股有限公司 二零二五年中期報告 目錄 頁次 | 中期簡明綜合損益及其他全面收益表 | 2 | | --- | --- | | 中期簡明綜合財務狀況表 | 5 | | 中期簡明綜合權益變動表 | 8 | | 中期簡明綜合現金流量表 | 10 | | 中期簡明綜合財務報表附註 | 13 | | 上市規則要求披露的其他資料 | 73 | 1 豐盛控股有限公司 二零二五年中期報告 中期簡明綜合財務報表 中期簡明綜合損益及其他全面收益表 截至二零二五年六月三十日止六個月 （以人民幣列示） | | | 截至六月三十日止六個月 | | | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | | | | （未經審核） | （未經審核） | | | 附註 | 人民幣千元 | 人民幣千元 | | 收入 | 6 | 10,265,102 | 10,675,171 | | 銷售及服務提供成本 | 10 | (8,334,913) | (9,244,682) | | 毛利 | | 1,930,189 | 1,430,489 | | 銷售及分銷開支 | 10 | (343,392) | (2 ...

Financial Performance - For the six months ended June 30, 2025, the company reported a total revenue of HKD 0 thousand, compared to HKD 2,328 thousand in the same period of 2024, indicating a significant decline [4]. - The operating loss for the period was HKD 215,014 thousand, compared to an operating loss of HKD 7,149 thousand in the previous year, reflecting a deterioration in performance [4]. - The company recorded a pre-tax profit of HKD 198,045 thousand, a turnaround from a pre-tax loss of HKD 111,907 thousand in the same period last year [5]. - Basic and diluted earnings per share for the period were HKD 5.55 cents, compared to a loss of HKD 3.12 cents per share in the previous year [5]. - Total comprehensive income for the period amounted to HKD 193,139 thousand, compared to a comprehensive loss of HKD 82,233 thousand in the same period of 2024 [5]. - The group reported an operating loss of HKD 198,045,000 for the six months ended June 30, 2025, compared to a loss of HKD 111,331,000 in the same period of 2024 [34]. - The total tax expense for the period was HKD 576,000, with no current tax recognized for 2025, while the previous year recorded a current tax expense of HKD 669,000 [31][29]. - No dividends were declared or proposed during the period, consistent with the previous year [32]. - The basic loss per share for the six months ended June 30, 2025, was calculated based on a weighted average of 3,568,791,000 shares, resulting in a loss of HKD 0.0555 per share [34]. - For the six months ended June 30, 2025, the company recorded a profit attributable to owners of approximately HKD 198,045,000, compared to a loss of HKD 134,287,000 in 2024, resulting in a basic earnings per share of HKD 5.55 [52]. Financial Position - As of June 30, 2025, total liabilities were HKD 1,500,213 thousand, down from HKD 1,693,352 thousand at the end of 2024, indicating a reduction in overall debt [7]. - The company's total assets less current liabilities stood at HKD (1,487,348) thousand, compared to HKD (1,645,494) thousand at the end of 2024, reflecting an improvement in net asset position [6]. - The company’s cash and cash equivalents decreased to HKD 57 thousand from HKD 95 thousand year-on-year, indicating a liquidity challenge [6]. - Current liabilities exceeded current assets by approximately HKD 1,487,348,000 as of June 30, 2025, compared to HKD 1,807,777,000 as of December 31, 2024 [16]. - The total borrowings amounted to HKD 701,079,000 as of June 30, 2025, down from HKD 892,750,000 as of December 31, 2024 [16]. - The group’s total capital deficit amounted to approximately HKD 1,500,213,000 as of June 30, 2025, compared to total capital of HKD 1,693,352,000 on December 31, 2024 [61]. - The group's debt-to-equity ratio was approximately 0.47 as of June 30, 2025, a decrease from 0.53 in 2024 [63]. - As of June 30, 2025, the group's net current liabilities were approximately HKD 1,487,575,000, down from HKD 1,807,777,000 on December 31, 2024, indicating a decrease of about 17.7% [60]. - The group employed 2 staff members as of June 30, 2025, with employee costs amounting to approximately HKD 127,000, a significant decrease from HKD 3,364,000 in 2024 [67]. Financing and Funding - The company is actively seeking alternative funding sources, including any forms of debt or equity financing, to improve its capital structure and reduce overall financing costs [21]. - The company is considering the sale of non-core businesses and/or financial assets to enhance profitability [21]. - The financing costs for the six months ended June 30, 2025, were HKD 76,969,000, a decrease from HKD 104,451,000 for the same period in 2024 [27]. - The group has no bank borrowings as of June 30, 2025, compared to HKD 187,279,000 in 2024, indicating a significant reduction in financial obligations [37]. - The group has extended the maturity of other borrowings from a financial institution to December 2024, with an annual interest rate of 12% [40]. - The group has recognized a civil execution order for the transfer of commercial property valued at RMB 170,060,160 to settle outstanding loans with Zhejiang Chouzhou Commercial Bank [42]. - The group has recorded a net liability of 280,595 thousand Hong Kong dollars related to the sale of assets [43]. - The group has withheld 60,000,000 Hong Kong dollars as a provision for withholding corporate income tax [45]. - The group has made a corporate income tax provision of 28,200,000 Hong Kong dollars but has not yet reported the transaction to the Chinese tax authority [45]. - The group has extended the cash withholding agreement with a third-party seller until December 31, 2024 [46]. Business Operations and Strategy - The company has not reported any new products or technologies, nor any significant market expansion or acquisition strategies during this period [10]. - The company has taken measures to strictly control production costs and expenses to achieve profitability and positive cash flow operations [17]. - The company is in discussions with potential investors and professional advisors to explore various options for a feasible restructuring plan [15]. - The company is actively exploring new business opportunities in the market despite ongoing legal challenges and uncertainties [57]. - The company has focused on enhancing asset management capabilities and profitability, aiming to improve property market value and asset efficiency [50]. - The centralized heating business generated revenue of approximately HKD 7,800,000 for the reporting period, an increase from HKD 13,060,000 in the previous period, serving about 12 active customers [55]. - The company is in discussions to manage a residential property project in Shanghai, with an estimated annual management fee of approximately HKD 10,100,000, potentially increasing the property management division's annual revenue to about HKD 86,600,000 if negotiations are successful [57]. Legal and Compliance Issues - The company is facing legal actions related to debts owed to China Huarong Asset Management Co., Ltd., which may impact its financial position and operations [58]. - The company is committed to reviewing its existing operations and financial condition to address issues that led to its trading suspension [15]. - Trading of the company's shares has been suspended since April 2, 2024, and will continue until further notice [91]. - The company is taking appropriate measures to rectify issues leading to the suspension of trading and is working towards compliance with listing rules [90]. Corporate Governance - The board approved the publication of the condensed consolidated interim financial statements on November 30, 2025 [48]. - The company has adopted a standard code of conduct for securities trading by directors, confirming compliance throughout the review year and up to the announcement date [81]. - The company has adhered to the corporate governance code as per the listing rules, although the positions of Chairman and CEO are currently vacant [83]. - The Audit Committee has reviewed the unaudited interim results for the six months ending June 30, 2025, and confirmed compliance with applicable accounting standards and listing rules [84]. - The company has appointed independent non-executive directors, meeting the minimum requirements set by the listing rules as of November 5, 2025 [85]. - The board of directors currently consists of seven members, including three independent non-executive directors [94].

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，概不會就因本公告全部或任何部分內容而產生或因 依賴該等內容而引致的任何損失承擔任何責任。 董事會謹此於二零二四年年報之「企業管治報告」中就上述事宜向本公司股東及潛 在投資者提供補充資料。 獨立非執行董事已審查是否存在有關本集團（作為一方）與最大股東或任何董事 （作為另一方）之間任何利益衝突的任何事宜。獨立非執行董事確認，截至二零二 四年十二月三十一日止年度及直至二零二四年年報日期，本集團與最大股東或任 何董事之間並無利益衝突。 （於開曼群島註冊成立的有限公司） （股份代號：2458） 截至二零二四年十二月三十一日止年度之年報的補充公告 茲提述(i)望塵科技控股有限公司（「本公司」）日期為二零二二年十二月三十日之招 股章程（「招股章程」）；及(ii)本公司及其附屬公司（連同本公司統稱「本集團」）截 至二零二四年十二月三十一日止年度之年報（「二零二四年年報」）。除文義另有所 指外，本公告所用詞彙與招股章程及二零二四年年報所界定者具有相同涵義。 誠如招股章程第377至378頁所披露，為管理本集團 ...