Announcement Overview Provides an overview of the interim results announcement, including disclaimers and company information Disclaimer HKEX and SEHK are not responsible for the announcement's content, accuracy, or completeness - Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited are not responsible for the content of this announcement, do not guarantee its accuracy or completeness, and assume no liability for any loss1 Company and Report Information Identifies Kam Hing International Holdings Limited (Stock Code: 02307) and the reporting period - Company Name: Kam Hing International Holdings Limited, Stock Code: 023072 - Reporting Period: Six months ended June 30, 20252 Interim Results Announcement Summary Presents the unaudited condensed consolidated financial results for the six months ended June 30, 2025 - This announcement contains the unaudited condensed consolidated financial results of the Group for the six months ended June 30, 2025, including comparative figures for the corresponding period in 20243 Condensed Consolidated Financial Statements Presents the group's financial performance and position for the interim period Condensed Consolidated Statement of Profit or Loss Group revenue increased by 1.8% to HKD 1,842,985 thousand, with profit before tax up 114.7% to HKD 9,026 thousand Condensed Consolidated Statement of Profit or Loss | Indicator | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,842,985 | 1,810,902 | 1.8% | | Cost of sales | (1,633,465) | (1,613,029) | 1.3% | | Gross profit | 209,520 | 197,873 | 5.9% | | Other income and gains, net | 35,823 | 33,274 | 7.7% | | Selling and distribution expenses | (65,039) | (52,551) | 23.8% | | Impairment loss on financial assets reversed, net | 224 | 4,727 | -95.3% | | Administrative expenses | (135,128) | (138,618) | -2.5% | | Other operating expenses, net | (13,641) | (8,667) | 57.4% | | Finance costs | (22,374) | (31,766) | -29.6% | | Share of loss of an associate | (359) | (68) | 427.9% | | Profit before tax | 9,026 | 4,204 | 114.7% | | Income tax expense | (2,716) | (234) | 1060.7% | | Profit for the period | 6,310 | 3,970 | 59.0% | | Profit attributable to owners of the Company | 6,411 | 3,815 | 68.0% | | Basic earnings per share | 0.7 HK cents | 0.4 HK cents | 75.0% | Condensed Consolidated Statement of Comprehensive Income Total comprehensive income for the period was HKD 6,310 thousand, consistent with profit for the period Condensed Consolidated Statement of Comprehensive Income | Indicator | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Profit for the period | 6,310 | 3,970 | | Other comprehensive income | – | – | | Total comprehensive income for the period | 6,310 | 3,970 | | Attributable to owners of the Company | 6,411 | 3,815 | | Attributable to non-controlling interests | (101) | 155 | Condensed Consolidated Statement of Financial Position Total non-current assets increased by 2.8%, while net current assets grew by 11.6% to HKD 762,789 thousand Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | | | | | Property, plant and equipment | 856,042 | 875,715 | -2.2% | | Right-of-use assets | 190,521 | 162,277 | 17.4% | | Goodwill | 32,621 | 405 | 7943.5% | | Total non-current assets | 1,302,049 | 1,266,432 | 2.8% | | Current assets | | | | | Inventories | 840,921 | 826,683 | 1.7% | | Trade and bills receivables | 526,094 | 518,455 | 1.5% | | Cash and cash equivalents | 637,150 | 672,814 | -5.4% | | Total current assets | 2,180,635 | 2,169,299 | 0.5% | | Current liabilities | | | | | Trade and bills payables | 562,680 | 607,894 | -7.4% | | Interest-bearing bank borrowings | 691,018 | 697,123 | -0.9% | | Total current liabilities | 1,417,846 | 1,485,664 | -4.6% | | Net current assets | 762,789 | 683,635 | 11.6% | | Non-current liabilities | | | | | Interest-bearing bank borrowings | 298,754 | 189,812 | 57.4% | | Total non-current liabilities | 342,711 | 228,161 | 50.2% | | Net assets | 1,722,127 | 1,721,906 | 0.0% | | Total equity | 1,722,127 | 1,721,906 | 0.0% | Notes to the Financial Statements Details the basis of presentation, accounting policies, segment information, and other financial disclosures Basis of Presentation and Accounting Policies Interim financial statements are prepared under HKAS 34 and Appendix D2, reviewed by the Audit Committee - The interim condensed consolidated financial statements are prepared in accordance with HKAS 34 and Appendix D2 of the Listing Rules, unaudited but reviewed by the Audit Committee8 - Accounting policies are consistent with the previous year, with the initial adoption of amended HKFRS 21 "Lack of Exchangeability" having no material impact on financial performance or position910 Operating Segment Information The Group operates in fabric, garment, and "other" segments, with fabric being the primary revenue and profit contributor - The Group's operating segments include fabric (production and sale of knitted fabrics, dyed yarn, and processing services), garment (production and sale of garment products and processing services), and "other" (sewage treatment and air/sea freight services)1112 Description of Segment Operations The Group's segments include fabric, garment, and "other" businesses, with performance monitored separately - The Group has three reportable operating segments: fabric, garment, and "other", whose results are separately monitored by management for decision-making11 - The fabric segment is engaged in the production and sale of knitted fabrics, sale of dyed yarn, and provision of related processing services12 - The garment segment is engaged in the production and sale of garment products and provision of related processing services; the "other" segment includes the provision of sewage treatment services and air and sea freight services12 Segment Results for H1 2025 Fabric segment generated most external revenue and profit, while garment and "other" segments recorded losses Segment Results for H1 2025 | Indicator | Fabric (HKD thousands) | Garment (HKD thousands) | Other (HKD thousands) | Total (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | Revenue from external customers | 1,432,714 | 410,271 | – | 1,842,985 | | Segment profit/(loss) | 29,828 | (283) | (574) | 28,971 | | Profit/(loss) before tax | 10,220 | (641) | (553) | 9,026 | | Profit/(loss) for the period | 7,121 | (476) | (335) | 6,310 | | Segment assets | 2,691,656 | 627,441 | 123,721 | 3,442,818 | | Capital expenditure | 51,417 | 1,190 | 172 | 52,779 | Segment Results for H1 2024 Fabric segment was the main revenue and profit source, with garment and "other" segments also profitable Segment Results for H1 2024 | Indicator | Fabric (HKD thousands) | Garment (HKD thousands) | Other (HKD thousands) | Total (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | Revenue from external customers | 1,477,142 | 333,760 | – | 1,810,902 | | Segment profit | 30,858 | 212 | 197 | 31,267 | | Profit before tax | 3,732 | 257 | 215 | 4,204 | | Profit/(loss) for the period | 3,665 | (31) | 336 | 3,970 | | Segment assets | 2,602,921 | 630,202 | 160,107 | 3,393,230 | | Capital expenditure | 27,654 | 15,292 | 3,373 | 46,319 | Revenue and Non-current Assets by Geographical Location Revenue primarily from Korea, Mainland China, and Singapore; non-current assets mainly in Mainland China, Cambodia, and Vietnam Revenue by Geographical Location | Revenue Source | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Korea | 815,989 | 795,036 | | Mainland China | 262,248 | 281,639 | | Singapore | 164,003 | 137,956 | | Hong Kong | 132,745 | 141,684 | | Taiwan | 90,856 | 80,562 | | United States | 76,654 | 67,125 | | Vietnam | 49,114 | 62,666 | | Other | 251,376 | 244,234 | | Total | 1,842,985 | 1,810,902 | Non-current Assets by Geographical Location | Non-current Asset Location | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Mainland China | 775,139 | 907,950 | | Cambodia | 140,819 | 146,083 | | Hong Kong | 118,570 | 74,171 | | Vietnam | 104,776 | 4,859 | | Singapore | 1,824 | 2,191 | | Other | – | 317 | | Total | 1,141,128 | 1,135,571 | Major Customer Information Customer A contributed over 10% of total revenue, mainly from sales of knitted fabrics and dyed yarn Major Customer Revenue | Major Customer | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Customer A | 348,155 | 319,916 | - Revenue from Customer A primarily derived from the sale of knitted fabrics and dyed yarn18 Revenue, Other Income and Gains Analysis Revenue primarily from knitted fabrics, dyed yarn, and garment products; other income includes sewage treatment fees and government grants Revenue, Other Income and Gains | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Revenue from contracts with customers | | | | Production and sale of knitted fabrics and dyed yarn | 1,432,714 | 1,477,142 | | Production and sale of garment products and provision of related processing services | 410,271 | 333,760 | | Total Revenue | 1,842,985 | 1,810,902 | | Other income | | | | Bank interest income | 2,034 | 4,348 | | Government grants | 4,212 | 48 | | Sewage treatment service income | 14,831 | 12,061 | | Freight service income | 3,622 | 3,778 | | Other | 11,222 | 13,033 | | Total Other Income | 35,921 | 33,268 | | Fair value (loss)/gain, net | (98) | 6 | | Total Other Income and Gains | 35,823 | 33,274 | Components of Profit Before Tax Profit before tax is influenced by cost of sales, employee benefits, depreciation, and R&D expenses Components of Profit Before Tax | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Cost of sales of inventories and services provided | 1,633,465 | 1,613,029 | | Research and development costs | 20,595 | 26,011 | | Depreciation of property, plant and equipment items | 91,273 | 111,029 | | Depreciation of right-of-use assets | 7,118 | 2,278 | | Employee benefit expenses (including directors' emoluments) | 286,840 | 278,319 | | Loss on disposal of property, plant and equipment items | 1,908 | 298 | | Impairment loss on trade receivables reversed, net | (224) | (4,727) | | Exchange differences, net | (3,043) | (2,620) | Income Tax Income tax expense significantly increased due to higher deferred tax and other regional tax expenses Income Tax Expense | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Current tax – Hong Kong | (165) | 288 | | Current tax – Other regions | 794 | (91) | | Deferred tax expense | 2,087 | 37 | | Total tax expense for the period | 2,716 | 234 | - Hong Kong profits tax rate is 16.5%, with eligible entities paying 8.25% on the first HKD 2,000,000 of assessable profits22 - Mainland China enterprise income tax rate is 25%, with some subsidiaries enjoying a 15% preferential rate for high-tech enterprises; Macau subsidiaries are exempt on the first MOP 600,000 of assessable profits, with the remainder taxed at 12%; Vietnam subsidiaries are taxed at 20%23 Dividends The Board resolved not to declare any interim dividend for the period, consistent with the prior year - The Board resolved not to declare any interim dividend (nil for both H1 2025 and H1 2024)24 Earnings Per Share Attributable to Owners of the Company Basic earnings per share increased to 0.7 HK cents, driven by higher profit attributable to owners Earnings Per Share | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Profit for the period attributable to owners of the Company | HKD 6,411,000 | HKD 3,815,000 | | Number of ordinary shares in issue | 869,919,000 shares | 869,919,000 shares | | Basic earnings per share | 0.7 HK cents | 0.4 HK cents | - The Group had no potential dilutive ordinary shares in issue during the period25 Trade and Bills Receivables Trade and bills receivables totaled HKD 526,094 thousand, with credit risk closely monitored Ageing Analysis of Trade and Bills Receivables | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Within 1 month | 355,925 | 361,744 | | 1 to 2 months | 117,894 | 94,236 | | 2 to 3 months | 32,379 | 37,422 | | Over 3 months | 19,896 | 25,053 | | Total | 526,094 | 518,455 | - The Group generally grants interest-free credit periods of up to three months to customers, extendable to six months for some long-term customers26 - The Group closely monitors outstanding receivables and has a credit control department to minimize credit risk26 Trade and Bills Payables Trade and bills payables decreased to HKD 562,680 thousand, generally settled within one to five months Ageing Analysis of Trade and Bills Payables | Ageing | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Within 3 months | 501,084 | 513,855 | | 3 to 6 months | 56,708 | 88,900 | | Over 6 months | 4,888 | 5,139 | | Total | 562,680 | 607,894 | - Trade and bills payables are interest-free and generally settled within a credit period of one to five months27 Management Discussion and Analysis Discusses market conditions, business performance, and future strategies amidst global economic uncertainties Market Review Global textile and garment industry faces uncertainties from US economy, trade tensions, and cautious consumer spending - The global textile and garment industry faces significant uncertainties from mixed US economic performance, trade tensions, and tariff policies28 - Early shipments to the US were a distortion of tariff policies, not actual demand growth; upstream textile suppliers face delayed and reduced orders, with ongoing industry consolidation28 - Chinese consumer confidence shows initial signs of stabilization but remains cautious, with consumption shifting towards value-oriented spending29 Business Review Group achieved stable performance with revenue growth, improved gross profit, and expanded production capacity in Southeast Asia - The Group's textile and garment business performed stably, with overall revenue increasing by 1.8% year-on-year to HKD 1,843 million, and gross profit increasing by 5.9% year-on-year to HKD 209.5 million30 - Profit attributable to owners of the Company was HKD 6.4 million, a 68.0% year-on-year increase; basic earnings per share were approximately 0.7 HK cents30 - Successful acquisition of Korea Textile & Dyeing Support Services Joint Stock Company (now Kam Hing (Vietnam) Textile Printing and Dyeing Company Limited) significantly enhanced Vietnam's textile production capacity, with investments in renovation and production line upgrades31 - Investments in Cambodia's garment production capacity expansion have shown results, improving order fulfillment efficiency and R&D capabilities32 - The Group strategically expanded in Southeast Asia, secured new financing to strengthen its capital base, and reduced finance costs by approximately 31.0% due to lower interest rates despite increased bank borrowings32 Outlook The Group will manage risks through its "China + Vietnam + Cambodia" production network and focus on sustainable development - The global economic growth outlook remains fragile and uncertain, with high tariffs and weak consumer confidence continuing to pressure the textile and garment industry33 - The Group will continue to leverage its "China + Vietnam + Cambodia" production triangle to manage geopolitical and market risks33 - Plans include utilizing the vertically integrated manufacturing network in Southeast Asia, increasing local sourcing, strengthening supply chain management, and committing to sustainable development33 Details of Financial Performance Provides a detailed breakdown of revenue, profit margins, operating expenses, and finance costs Revenue Overall sales revenue increased by 1.8% to HKD 1,843 million, supported by stable demand Overall Sales Revenue | Indicator | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Overall sales revenue | 1,843,000,000 | 1,810,900,000 | 1.8% | - Sales revenue remained stable, benefiting from consistent demand for the Group's fabric and garment products34 Gross Profit and Gross Margin Gross profit increased by 5.9% to HKD 209.5 million, with margin improving to 11.4% due to better order mix Gross Profit and Gross Margin | Indicator | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Gross profit | 209,500,000 | 197,900,000 | 5.9% | | Gross margin | 11.4% | 10.9% | 0.5 percentage points | - The increase in gross margin was primarily due to a higher proportion of relatively profitable orders compared to the same period last year35 Other Income and Gains, Net Net other income and gains were HKD 35.9 million, primarily from sewage treatment, grants, and bank interest Other Income and Gains, Net | Item | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | | :--- | :--- | :--- | | Other income and gains, net | 35,900,000 | 33,300,000 | | Sewage treatment service income | 14,800,000 | 12,100,000 | | Freight service income | 3,600,000 | 3,800,000 | | Government grants | 4,200,000 | 100,000 | | Bank interest income | 2,000,000 | 4,300,000 | Selling and Distribution Expenses Selling and distribution expenses increased to HKD 65 million, mainly due to higher freight costs Selling and Distribution Expenses | Indicator | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Selling and distribution expenses | 65,000,000 | 52,600,000 | 23.6% | - The increase in expenses was primarily due to a significant rise in freight costs37 Administrative Expenses Administrative expenses decreased to HKD 135.1 million, reflecting effective cost control and organizational optimization Administrative Expenses | Indicator | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Administrative expenses | 135,100,000 | 138,600,000 | -2.5% | - The reduction in administrative expenses is attributed to the Group's prudent cost control measures and continuous efforts to optimize its organizational structure38 Other Operating Expenses, Net Net other operating expenses were HKD 13.6 million, including sewage treatment costs and asset disposal losses Other Operating Expenses, Net | Item | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | | :--- | :--- | :--- | | Other operating expenses, net | 13,600,000 | 8,700,000 | | Sewage treatment operating expenses | 14,700,000 | 11,000,000 | | Loss on disposal of property, plant and equipment items | 1,900,000 | 300,000 | | Exchange gains | 3,000,000 | 2,600,000 | Finance Costs Finance costs decreased by 29.6% to HKD 22.4 million, primarily due to lower prevailing bank interest rates in Hong Kong Finance Costs | Item | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | | :--- | :--- | :--- | | Total finance costs | 22,400,000 | 31,800,000 | | Interest on bank loans | 15,800,000 | 21,400,000 | | Interest on trade loans and discounted bills | 4,400,000 | 8,900,000 | | Interest on lease liabilities | 800,000 | 400,000 | - The decrease in finance costs was mainly due to a reduction in prevailing bank interest rates in Hong Kong compared to the same period last year40 Net Profit Net profit attributable to owners increased significantly to HKD 6.4 million, driven by improved margins and reduced costs Net Profit Attributable to Owners | Indicator | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | | :--- | :--- | :--- | | Net profit attributable to owners of the Company | 6,400,000 | 3,800,000 | - The increase in profit was primarily attributable to improved gross margin and reduced administrative and finance costs41 Liquidity and Financial Management Discusses the Group's liquidity position, financing, and risk management strategies Contingent Liabilities The Group had no material contingent liabilities as of June 30, 2025 - As of June 30, 2025, the Group had no material contingent liabilities42 Overview of Liquidity and Financial Resources Net current assets increased to HKD 762.8 million, maintaining a stable current ratio of 1.5 times Liquidity and Financial Resources | Indicator | June 30, 2025 (HKD) | December 31, 2024 (HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Net current assets | 762,800,000 | 683,600,000 | 11.6% | | Cash and cash equivalents | 637,200,000 | 672,800,000 | -5.3% | | Current ratio | 1.5 times | 1.5 times | 0.0% | | Total bank borrowings | 989,800,000 | 886,900,000 | 11.6% | | Net debt to equity ratio | 39.0% | 37.3% | 1.7 percentage points | - The Group finances its working capital through internally generated resources and long-term bank loans to maintain a sound financial position43 Financing Activities Long-term loans significantly increased to HKD 298.8 million, primarily comprising bank term loans Long-term Loans | Indicator | June 30, 2025 (HKD) | December 31, 2024 (HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Long-term loans | 298,800,000 | 189,800,000 | 57.4% | Interim Dividends The Board resolved not to recommend any interim dividend for the period - The Board resolved not to recommend any interim dividend for the period (nil for both H1 2025 and H1 2024)45 Foreign Exchange and Interest Rate Risks The Group is exposed to RMB-related foreign exchange risk and floating interest rate risk, which are actively monitored - Approximately 84.2% of the Group's sales are denominated in US dollars, primarily exposing it to RMB-related foreign exchange risk46 - The Group's borrowings are mainly interest-bearing at floating rates, and management closely monitors interest rate movements, utilizing hedging instruments when necessary46 Pledges of the Group's Assets HKD 35.4 million in deposits were pledged for HKD 87.4 million in bills payable - As of June 30, 2025, the Group had no pledged land and buildings47 - HKD 35.4 million in deposits were pledged as security for HKD 87.4 million in bills payable47 - Restricted bank deposits were nil (HKD 1.3 million at year-end due to a freezing order from a local court in China)47 Capital Expenditure Capital expenditure was HKD 52.8 million, mainly for plant and machinery, with significant commitments for new facilities Capital Expenditure | Indicator | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | | :--- | :--- | :--- | | Capital expenditure | 52,800,000 | 46,300,000 | | Proportion for purchase of plant and machinery | 97.8% | 74.4% | Capital Commitments | Capital Commitment | June 30, 2025 (HKD) | December 31, 2024 (HKD) | | :--- | :--- | :--- | | Property, plant and equipment and right-of-use assets | 37,000,000 | 13,000,000 | | Construction of new production facilities | 176,200,000 | 176,200,000 | Other Corporate Information Covers material investments, acquisitions, post-reporting events, treasury policy, and employee details Material Investments The Group held no material investments representing 5% or more of its total assets - As of June 30, 2025, the Group held no material investments representing 5% or more of its total assets49 Material Acquisitions and Disposals The Group completed the acquisition of KHV in Vietnam for HKD 83.892 million to boost textile production - The acquisition of the entire equity interest in Korea Textile & Dyeing Support Services Joint Stock Company (KHV) was completed in April 202550 - The cash consideration for the acquisition included a purchase price of USD 4,347,894 (approximately HKD 33,913,000) and repayment of debts of USD 6,407,597 (approximately HKD 49,979,000)50 - Other than the aforementioned acquisition, the Group did not undertake any other material acquisitions or disposals of subsidiaries, associates, or joint ventures during the period50 Events After Reporting Period No significant events occurred after the reporting period that materially affected operations or financial performance - No significant events occurred after the reporting period that materially affected the Group's operations and financial performance51 Treasury Policy The Group maintains a prudent treasury policy focused on risk control and managing liquidity and financing needs - The Group adopts a prudent treasury policy, placing high importance on risk control and transactions, aiming to mitigate the impact of interest rate and exchange rate fluctuations52 - The Group regularly reviews its liquidity and financing needs to minimize financial risks52 Equity Fund Raising Activities The Company did not undertake any equity fund-raising activities or sell treasury shares during the period - The Company did not undertake any equity fund-raising activities or sell treasury shares during the period53 - There were no unutilized proceeds carried forward from any equity securities issued or treasury shares sold in previous financial years53 Employee Information The Group had 7,220 employees globally, with compensation based on market terms and performance Employee Headcount by Region | Region | June 30, 2025 (Number of Employees) | December 31, 2024 (Number of Employees) | | :--- | :--- | :--- | | China | 3,575 | 3,638 | | Cambodia | 3,348 | 3,356 | | Hong Kong, Macau, Singapore and other regions | 297 | 187 | | Total | 7,220 | 7,181 | - Remuneration packages are determined with reference to market terms and individual qualifications, reviewed annually, and discretionary bonuses are awarded based on performance54 - The Group provides defined contribution retirement benefit schemes and medical insurance for Hong Kong employees, participates in defined contribution and insurance schemes in other jurisdictions, and offers various insurance and social welfare benefits for Mainland China employees54 Purchase, Redemption or Sale of the Company's Listed Securities Neither the Company nor its subsidiaries purchased, redeemed, or sold any listed securities during the period - Neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities during the period55 - As of June 30, 2025, the Company held no treasury shares55 Corporate Governance and Board of Directors Details the Company's commitment to corporate governance, the role of the Audit Committee, and Board composition Corporate Governance The Company adheres to good corporate governance practices and complies with the Listing Rules - The Company is committed to maintaining good corporate governance practices and has applied the relevant principles and complied with the code provisions of the Corporate Governance Code in Appendix C1 Part 2 of the Listing Rules throughout the period56 Audit Committee Composed of three independent non-executive directors, the committee reviews financial reporting and internal controls - The Audit Committee comprises three independent non-executive directors: Mr. Ng Tak Lung (Chairman), Mr. Ho Chi Hang, and Mr. Ding Kee Lung57 - Its primary responsibilities include reviewing and overseeing the Group's financial reporting, risk management, and internal controls57 - The Audit Committee has reviewed the Group's unaudited interim financial statements for the period57 Standard Code for Securities Transactions by Directors All directors confirmed compliance with the Standard Code for securities transactions during the period - The Company has adopted the Standard Code as set out in Appendix C3 of the Listing Rules as the code of conduct for directors' securities transactions58 - Following specific inquiries, each director confirmed compliance with the standards required by the Standard Code during the period58 Publication of Interim Results Announcement and Interim Report The interim results announcement is published online, and the interim report will be dispatched to shareholders - This interim results announcement is published on the HKEX website (www.hkex.com.hk) and the Company's website (www.kamhingintl.com)[59](index=59&type=chunk) - The Company's interim report for the six months ended June 30, 2025, will be dispatched to shareholders and published on the HKEX and Company websites in due course59 Acknowledgement and Board Members The Board expresses gratitude to stakeholders and lists its current executive, non-executive, and independent non-executive directors - The Board extends its sincere gratitude to shareholders, investors, business partners, and employees for their continuous support and diligent work60 - The Board members include Executive Directors Mr. Tai Kam Chun, Mr. Tai Kam Man, Ms. Cheung So Wan, and Ms. Wong Siu Yuk; Non-executive Director Mr. Li Xiangmin; and Independent Non-executive Directors Mr. Ho Chi Hang, Mr. Ding Kee Lung, and Mr. Ng Tak Lung61
锦兴国际控股(02307) - 2025 - 中期业绩