Financial Performance - For the first half of 2025, the company's operating revenue was RMB 489.14 million, a decrease of 6% year-on-year, with product sales revenue at RMB 397.91 million, down 1% due to intensified competition[15]. - The CDMO/CMO business revenue was RMB 77.30 million, a decline of 32%, primarily due to some key projects not reaching delivery milestones[15]. - The net profit for the first half of 2025 was RMB 4.06 million, a significant decrease of 87%, impacted by increased depreciation and amortization from major construction projects coming into use[15]. - The company's revenue for the first half of 2025 was RMB 489,140 thousand, a decrease of RMB 31,463 thousand or 6% compared to RMB 520,603 thousand in the same period of 2024[32]. - The net profit for the first half of 2025 was RMB 4,062 thousand, down RMB 27,497 thousand or 87% from RMB 31,559 thousand in the same period of 2024[32]. - The group's product sales revenue for the first half of 2025 was RMB 397,909 thousand, a decrease of RMB 2,491 thousand from RMB 400,400 thousand in the same period of 2024, primarily due to intensified market competition[33]. - CDMO/CMO business revenue for the first half of 2025 was RMB 77,301 thousand, down RMB 36,490 thousand from RMB 113,791 thousand in the same period of 2024, mainly due to significant project milestones completed last year that have not yet been reached this year[33]. - Operating profit for the six months ended June 30, 2025, was RMB 9,178 thousand, significantly down from RMB 33,258 thousand in 2024, representing a decline of 72.5%[53]. - Total assets as of June 30, 2025, were RMB 1,476,422 thousand, down from RMB 1,508,772 thousand as of December 31, 2024, reflecting a decrease of 2.1%[55]. - Total liabilities as of June 30, 2025, were RMB 744,740 thousand, a decrease of 4.4% from RMB 779,117 thousand as of December 31, 2024[56]. Research and Development - The company added 16 new projects in the first half of 2025, including 14 ADC projects, bringing the total to 169 projects, with 12 projects advancing from preclinical to clinical stages[9]. - The company is focusing on its core business in the biopharmaceutical CDMO sector, with a continuous decrease in new drug R&D expenses while actively promoting sales of already launched products[22]. - Research and development expenses for the first half of 2025 were RMB 35,628 thousand, compared to RMB 46,059 thousand in the same period of 2024[32]. - The company has a robust pipeline with multiple candidates in various clinical stages, including TAE020 for acute myeloid leukemia and TAB014 for wet age-related macular degeneration[22]. - The company has introduced the "OS One-Step Conjugation" and HydroTrio technologies to enhance ADC development efficiency and clinical effectiveness, catering to specific customer needs[19]. - The BDKcell® (CHOk1) cell line development platform enables rapid and efficient high-expression monoclonal cell line development, accelerating IND submissions[19]. Market Expansion - The core product, Bevacizumab injection, has successfully obtained market approval in Nigeria and Pakistan, marking significant progress in international expansion[12]. - The company is responsible for the global commercialization of Bevacizumab injection, which opens new international market opportunities[12]. - The market for Bevacizumab is projected to reach nearly RMB 49 billion globally by 2030, with a CAGR of 7.6% from 2021 to 2030[23]. - The Chinese market for Bevacizumab is expected to grow to RMB 18.4 billion by 2030, with a CAGR of 8.3% from 2021 to 2030[23]. - The company successfully included its product in the 2022 National Medical Insurance Drug List, significantly improving patient affordability and drug accessibility[23]. Compliance and Quality Management - The company has passed GMP inspections in multiple countries, including Brazil and Colombia, enhancing its international compliance recognition[12]. - The company has successfully passed over 60 GMP audits, including zero-defect EU QP audits and direct approvals from various countries, ensuring compliance with international quality standards[21]. - The company has invested significantly in data integrity and quality management systems to support regulatory audits and ensure compliance with global standards[21]. Employee and Organizational Structure - The CDMO team consists of 524 members, with 77% holding advanced degrees, reflecting the company's commitment to building a strong workforce[21]. - The company continues to enhance its organizational structure and management system, leading to a slight increase in sales and management expenses[15]. - The total number of employees as of June 30, 2025, was 604, with 60.60% in production and manufacturing roles[47]. Financial Management and Risk - The company has not disclosed any significant financial risks that may impact its financial performance and position[70]. - The company’s financial risk management plan focuses on mitigating potential adverse effects on its financial condition and performance due to market unpredictability[70]. - The company plans to continue reviewing economic conditions and foreign exchange risk, considering appropriate hedging measures as necessary[52]. - The company has not made any changes to its risk management mechanisms since the fiscal year ending December 31, 2024[71]. Shareholder Information - As of June 30, 2025, the total number of issued shares is 772,787,887[114]. - Major shareholder Chengwei Evergreen Capital holds 116,250,000 shares, accounting for 15.04% of the company's equity[118]. - The largest shareholder, Chengde Pharmaceutical Co., Ltd., owns 213,311,700 shares, representing 27.60% of the company's equity[117]. - The company has a total of 7,646,300 shares held by a controlled corporation under Chengde Pharmaceutical Co., Ltd., which is 0.99% of the equity[117]. Share-Based Awards - The company adopted the Pre-IPO Share Option Scheme on February 20, 2013, to attract and retain talent, enhancing employee productivity and cohesion[120]. - The company plans to grant share-based awards under the newly adopted 2024 Restricted Share Award Scheme instead of the 2020 scheme, as the transitional arrangements for new share grants have been terminated[126]. - The 2020 Restricted Share Award Scheme is expected to terminate on May 28, 2030, subject to certain conditions[128]. - The company has outlined specific vesting conditions for shares granted, with some shares vesting based on achieving R&D targets by 2029[128]. Corporate Governance - The company has a commitment to comply with the Corporate Governance Code as per the listing rules[146]. - The audit and related party transaction review committee has reviewed the financial reporting process and internal control systems, confirming compliance with applicable accounting standards and regulations[134]. - The company is subject to regulations from the FDA and NMPA regarding drug approvals and clinical trials[147].

中期報告 2025 INTERIM REPORT INTERIM REPORT 2025 中期報告 2025 目 錄 | 第一節 | 釋義 | 4 | | --- | --- | --- | | 第二節 | 公司簡介和主要財務指標 | 8 | | 第三節 | 管理層討論與分析 | 12 | | 第四節 | 公司治理、環境和社會 | 58 | | 第五節 | 重要事項 | 61 | | 第六節 | 股份變動及股東情況 | 70 | | 第七節 | 債券相關情況 | 76 | | 第八節 | 財務報告 | 77 | 備查文件目錄 載有公司法定代表人、主管會計工作負責人、會計機 構負責人簽名並蓋章的財務報告 載有現任法定代表人簽字和公司蓋章的2025年半年 度報告全文及摘要 報告期內在中國證監會指定網站上公開披露過的所 有公司文件的正文及公告的原稿 重要提示 一、本公司董事會及董事、高級管理人員保證半年度報告內容的真實性、準確性、完整性，不存在虛假記 載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二、重大風險提示 1. 業績大幅下滑或虧損的風險 報 告 期 內，公 司 歸 屬 於 上 市 公 司 股 東 ...

COMPANY PROFILE 公司簡介 INTERIM REPORT 中期報告 2025 CONTENTS 目錄 | 2 | Company Profile | | --- | --- | | | 公司簡介 | | 3 | Management Discussion and Analysis | | | 管理層討論及分析 | | 26 | Disclosure of Interest | | | 權益披露 | | 29 | Corporate Governance and Other Information | | | 企業管治及其他資料 | | 32 | Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Expense | | | 簡明綜合損益及其他全面開支表 | | 33 | Condensed Consolidated Statement of Financial Position | | | 簡明綜合財務狀況表 | | 35 | Condensed Consolidated Statement of ...

CONTENTS 目錄 | Corporate Information | 2 | | --- | --- | | 公司資料 | | | Management Discussion and Analysis | 4 | | 管理層討論及分析 | | | Other Information | 12 | | 其他資料 | | | Condensed Consolidated Income Statement | 18 | | 簡明綜合收益表 | | | Condensed Consolidated Statement of Comprehensive Income | 19 | | 簡明綜合全面收益表 | | | Condensed Consolidated Statement of Financial Position | 20 | | 簡明綜合財務狀況表 | | | Condensed Consolidated Statement of Changes in Equity | 22 | | 簡明綜合權益變動表 | | | Condensed Consolidated Statement of Cash Fl ...

SINO BIOPHARMACEUTICAL LIMITED ( 於開曼群島註冊成立之有限公司) (股票編號：1177) 中期報告 2025 Interim Report 2025 中期報告 公司資料 公司法定名稱 中國生物製藥有限公司 股票代號 1177 公司網址 www.sinobiopharm.com 公司註冊地點 開曼群島 主板上市日期 二零零三年十二月八日 創業板上市日期 二零零零年九月二十九日 董事 執行董事 謝其潤女士 （主席） 謝炳先生 （資深副主席） 鄭翔玲女士 （副主席） 謝承潤先生 （首席執行長） 謝炘先生 田舟山先生 獨立非執行董事 陸正飛先生 李大魁先生 魯紅女士 張魯夫先生 李國棟醫生 執行董事委員會 謝其潤女士 （主席） 謝炳先生 鄭翔玲女士 謝承潤先生 謝炘先生 審核委員會 陸正飛先生 （主席） 李大魁先生 魯紅女士 李國棟醫生 薪酬委員會 張魯夫先生 （主席） 陸正飛先生 魯紅女士 提名委員會 謝其潤女士 （主席） 謝炳先生 陸正飛先生 魯紅女士 張魯夫先生 李國棟醫生 環境、社會及管治委員會 鄭翔玲女士 （主席） 謝其潤女士 李國棟醫生 公司秘書 陳凱年先生 授權代表 謝炳 ...

（於開曼群島註冊成立的有限公司） 股份代號 : 9608 中期報告 2025 Sundy Service Group Co. Ltd 宋都服务集团有限公司 目錄 2 公司資料 4 財務摘要 5 主席報告 6 管理層討論與分析 18 企業管治及其他資料 22 未經審核簡明綜合損益及其他全面收益表 23 未經審核簡明綜合財務狀況表 24 未經審核簡明綜合權益變動表 25 未經審核簡明綜合現金流量表 26 未經審核簡明中期綜合財務報表附註 公司資料 董事會 執行董事 俞昀女士 （董事會主席） 朱軼樺先生 （首席執行官） 朱從越先生 張振江先生 獨立非執行董事 葉茜女士 黃恩澤先生 朱浩賢先生 審核委員會 葉茜女士 （主席） 黃恩澤先生 朱浩賢先生 薪酬委員會 朱浩賢先生 （主席） 黃恩澤先生 葉茜女士 提名委員會 俞昀女士 （主席） 葉茜女士 黃恩澤先生 朱浩賢先生 聯席公司秘書 張綺思女士 （於2025年3月19日辭任） 徐曉麗女士 （於2025年3月19日獲委任） 曾浩賢先生 股份代號 9608 授權代表 朱從越先生 曾浩賢先生 香港法律顧問 史蒂文生黃律師事務所 與錦天城（香港）律師事務所有限法律責任合夥聯營 ...

INTERIM REPORT 2025 中期報告 2025 Interim Report 中期報 頁次 公司資料 董事會 執行董事 劉錦蘭先生 （主席） 劉祥先生 杭友明先生 王進先生 王煜女士 獨立非執行董事 顧福身先生 許春華女士 張國雲女士 審核委員會 告 2025 目 錄 | 公司資料 | 2 | | --- | --- | | 財務摘要 | 3 | | 管理層討論及分析 | 4 | | 其他資料 | 16 | | 簡明綜合財務報表審閱報告 | 28 | | 簡明綜合損益及其他全面收入表 | 29 | | 簡明綜合財務狀況表 | 30 | | 簡明綜合權益變動表 | 32 | | 簡明綜合現金流量表 | 34 | | 簡明綜合財務報表附註 | 35 | 1 興達國際控股有限公司 顧福身先生 （主席） 許春華女士 張國雲女士 薪酬及管理發展委員會 顧福身先生 （主席） 張國雲女士 提名委員會 劉錦蘭先生 （主席） 顧福身先生 許春華女士 公司秘書 鄭錦豪先生， CPA 法定代表 王進先生 鄭錦豪先生 法律顧問 香港法律： 麥家榮律師行 核數師 德勤 • 關黃陳方會計師行 註冊公眾利益實體核數師 投資者關 ...

Revenue and Profitability - For the six months ended June 30, 2025, the company's revenue increased significantly by RMB 141,900,000 or 233.4% to RMB 202,700,000 compared to RMB 60,800,000 for the corresponding period[7]. - The company's profit before tax decreased by RMB 26,600,000 or 79.2% to RMB 7,000,000 from RMB 33,600,000 in the corresponding period[7]. - The company's attributable profit increased from RMB 25,300,000 to RMB 31,900,000, mainly due to significant losses incurred by Beijing Liheng Group being largely borne by non-controlling interests[9]. - The group recorded a pre-tax profit of RMB 7,000,000 during the interim period, a significant decrease from RMB 33,600,000 in the corresponding period, while profit attributable to owners increased from RMB 25,300,000 to RMB 31,900,000[37]. - The net profit for the six months ended June 30, 2025, was RMB 2,546,000, a decrease from RMB 25,388,000 in the same period of 2024[84]. Acquisitions and Business Expansion - The revenue increase was primarily due to the acquisition of CashBox Group Technology (Hong Kong) Limited, contributing RMB 129,900,000, and the acquisition of Beijing Liheng Group, contributing RMB 11,900,000[8]. - The company successfully expanded into the internet social and digital content sectors through acquisitions of Beijing Yihang Group and Beijing Jiayu Group[6]. - The acquisition of Beijing Yihang Group aims to enhance the company's digital content ecosystem, focusing on high-quality web series production for new media platforms[19]. - The acquisition of Beijing Yihang was completed on March 18, 2025, with a purchase price of zero, resulting in a bargain purchase gain of RMB 37,000,000 recognized in other income[139]. - The acquisition of Beijing Jiayu was also completed on March 18, 2025, for a 50% stake at zero cost, leading to an indirect ownership of 26.01%[141]. - The CashBox acquisition was agreed upon on October 16, 2023, with a total consideration of RMB 522,303,000 through the issuance of new shares[148]. - Following the completion of the CashBox acquisition on June 21, 2024, the company holds 100% of Guomei Xin International Investment and 51.15% of Guomei Xin Internet Technology[149]. Financial Performance and Expenses - Employee costs surged by RMB 43,500,000 or 580% due to the expansion of Beijing Liheng Group's operations, impacting profit margins[8]. - Administrative expenses increased from RMB 15,800,000 to RMB 89,600,000, primarily due to a rise in employee costs from RMB 7,500,000 to RMB 51,000,000, as the number of employees surged from 35 to 630[35]. - Marketing expenses surged to RMB 119,300,000 from RMB 5,800,000, with significant contributions from CashBox and Beijing Liheng's marketing activities[36]. - The total comprehensive income for the six months ended June 30, 2025, was RMB (16,886,000), down from RMB 33,613,000 in the same period of 2024[84]. Digital Content and Technology Strategy - The company is focusing on deepening its "Technology + Finance" integrated internet strategy and accelerating digital transformation and business diversification[6]. - The group aims to become a leading "technology + finance" integrated internet service provider, leveraging emerging technologies like AI and blockchain[13]. - The company is focusing on digital content services, including game development and digital marketing, as part of its growth strategy[102]. - The digital content ecosystem segment reported total revenue of RMB 131,074,000, a significant increase from RMB 5,973,000 in the corresponding period, driven by the acquisition of CashBox[38]. Financial Position and Liquidity - The total equity of the group as of June 30, 2025, was RMB 2,445,600,000, a decrease from RMB 2,465,100,000 as of December 31, 2024[69]. - Cash and cash equivalents decreased to RMB 73,000,000 as of June 30, 2025, down from RMB 130,500,000 as of December 31, 2024[69]. - The group recorded cash outflow from operating activities of RMB 9,100,000 during the period, compared to RMB 89,100,000 in the corresponding period[70]. - The current ratio as of June 30, 2025, was 10.5, down from 18.2 as of December 31, 2024[70]. - The debt-to-equity ratio was 9.15% as of June 30, 2025, compared to 5.25% as of December 31, 2024[70]. Employee and Management Information - Employee compensation (excluding directors and CEO) for the period was RMB 50,300,000, significantly higher than RMB 6,500,000 in the corresponding period[77]. - The group employed 630 staff as of June 30, 2025, an increase from 381 as of December 31, 2024[77]. - Management compensation for the six months ended June 30, 2025, was RMB 845,000, a decrease from RMB 971,000 for the same period in 2024[138]. Shareholder Information - The company’s major shareholders are Mr. Huang Guangyu and Ms. Du Juan, who control the company through their respective investment firms[92]. - Swiree Capital Limited and Ms. Du hold 1,653,073,872 shares, representing 31.78% of the company's issued share capital[159]. - Ms. Du's spouse holds 2,185,286,341 shares, accounting for 42.02% of the company's issued share capital[159]. - The total number of issued shares as of June 30, 2025, is 5,201,123,120[164]. Regulatory and Governance - The company has adopted the standard code of conduct for directors' securities transactions as per the listing rules[165]. - The audit committee consists of four members, including three independent non-executive directors[170]. - The company has complied with all corporate governance code provisions during the reporting period[162].

關愛 生命 呵護 健康 關愛 生命 健康 中期報告 2025 * 本公司以中文名稱及英文名稱「Sinopharm Group Co. Ltd.」根據香港公司條例註冊為非香港公司。 The Company is registered as a non-Hong Kong company under the Hong Kong Companies Ordinance * under its Chinese name and the English name "Sinopharm Group Co. Ltd.". All for Health for All 公司簡介 本公司是中國醫藥集團有限公司所屬核心企業，成立於2003年1月，於 2009年9月在香港聯交所上市（股票代碼：01099.HK），為中國藥品、醫 療器械及醫療保健產品龍頭分銷商和零售商，及領先的供應鏈服務提供 商。 本集團主營醫藥及醫療器械分銷業務，依託覆蓋全國的分銷及配送網絡，為 國內外藥品、醫療器械、耗材及其他醫療保健產品的製造商和供貨商，及下 游的醫院、其他分銷商、零售藥店、基層醫療機構等客戶提供全面的分銷、 配送和其他增值服務。 Health ...

目 錄 | 公司資料 | 2 | | --- | --- | | 管理層討論與分析 | 3 | | 獨立審閱報告 | 18 | | 中期簡明綜合損益表 | 19 | | 中期簡明綜合全面收益表 | 20 | | 中期簡明綜合財務狀況表 | 21 | | 中期簡明綜合權益變動表 | 23 | | 中期簡明綜合現金流量表 | 25 | | 中期簡明綜合財務資料附註 | 26 | | 其他資料 | 47 | 越 秀 服 務 集 團 有 限 公 司 | 中 期 報 告 2025 2 公司資料 董事會 非執行董事 江国雄先生 （主席） 張建国先生 楊昭煊先生 執行董事 王建輝先生 張成皓先生 張勁先生 獨立非執行董事 洪誠明先生 許麗君女士 梁耀文先生 公司秘書 余達峯先生 核數師 安永會計師事務所 執業會計師 註冊公眾利益實體核數師 主要往來銀行 中國建設銀行股份有限公司 廣州銀行股份有限公司 上海浦東發展銀行股份有限公司 創興銀行有限公司 珠海華潤銀行股份有限公司 興業銀行股份有限公司 平安銀行股份有限公司 廣東南粵銀行股份有限公司 * 張建国先生於二○二五年九月八日辭任越秀服務集團有限公司非 執行董事。更多詳情請 ...