Cover and Legal Disclaimer This section presents the unaudited interim results for the six months ended June 30, 2025, along with the directors' responsibility statement and a disclaimer regarding GEM market risks. Interim Results Announcement Wing Fung Group Asia Limited announces unaudited H1 2025 interim results, compliant with GEM Listing Rules, for dispatch to shareholders in August. - Wing Fung Group Asia Limited (Stock Code: 8526) announced its unaudited interim results for the six months ended June 30, 2025 23 - The full interim report complies with the GEM Listing Rules of the Stock Exchange and will be dispatched to shareholders who elected to receive a printed copy in August 2025 3 - Mr. Chung Chi Keung serves as the Chairman, Chief Executive Officer, and Executive Director of the Board 3 Directors' Responsibility Statement and GEM Characteristics The Board confirms the accuracy and completeness of this announcement, emphasizing GEM's high investment risk for small and medium-sized companies. - The Board confirms that the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive 4 - The GEM market provides a listing platform for small and medium-sized companies, entailing higher investment risks and potential for significant market volatility 5 Interim Results This section provides a comprehensive overview of the Group's unaudited condensed consolidated financial statements, including the statement of comprehensive income, financial position, cash flows, and changes in equity. Unaudited Condensed Consolidated Statement of Comprehensive Income For H1 2025, the Group reversed from profit to a HK$2,668 thousand loss, with revenue down 14.8% and gross profit significantly decreasing by 58.47%. Key Data from Condensed Consolidated Statement of Comprehensive Income | Indicator | H1 2025 (HK$ thousand) | H1 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Revenue | 66,692 | 78,296 | (11,604) | -14.82% | | Cost of Sales | (61,294) | (65,298) | 4,004 | -6.13% | | Gross Profit | 5,398 | 12,998 | (7,600) | -58.47% | | Operating (Loss) Profit | (2,009) | 4,358 | (6,367) | -146.09% | | (Loss) Profit for the Period | (2,668) | 2,315 | (4,983) | -215.25% | | Basic and Diluted (Loss) Earnings Per Share (HK cents per share) | (1.64) | 1.43 | (3.07) | -214.68% | - Total comprehensive (expense) income for the period was a loss of HK$2,666 thousand, compared to an income of HK$2,313 thousand in the prior period 7 Unaudited Condensed Consolidated Statement of Financial Position As of June 30, 2025, the Group's total assets decreased to HK$110,441 thousand, with net assets at HK$64,072 thousand and a slight reduction in total equity. Key Data from Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change Rate | | :--- | :--- | :--- | :--- | :--- | | Total Assets | 110,441 | 126,118 | (15,677) | -12.43% | | Total Liabilities | 46,369 | 59,380 | (13,011) | -21.91% | | Net Assets | 64,072 | 66,738 | (2,666) | -3.99% | | Total Equity | 64,072 | 66,738 | (2,666) | -3.99% | | Current Assets | 101,073 | 116,820 | (15,747) | -13.48% | | Current Liabilities | 46,366 | 59,324 | (12,958) | -21.84% | - Non-current assets slightly increased, primarily due to additions to property, plant and equipment 8 Unaudited Condensed Consolidated Statement of Cash Flows For H1 2025, net cash from operating activities reversed to an outflow of HK$6,994 thousand, with investing cash flow increasing and financing cash flow shifting to inflow. Key Data from Condensed Consolidated Statement of Cash Flows | Indicator | H1 2025 (HK$ thousand) | H1 2024 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Net Cash (Used in) From Operating Activities | (6,994) | 676 | (7,670) | | Net Cash From Investing Activities | 7,383 | 1,992 | 5,391 | | Net Cash From (Used in) Financing Activities | 708 | (3,869) | 4,577 | | Net Increase in Cash and Cash Equivalents | 1,097 | (1,201) | 2,298 | | Cash and Cash Equivalents at End of Reporting Period | 10,827 | (5,163) | 15,990 | - Cash and cash equivalents (net of overdrafts) at the end of the reporting period amounted to HK$10,827 thousand, a significant improvement from the prior period 9 Unaudited Condensed Consolidated Statement of Changes in Equity For H1 2025, total equity decreased from HK$66,738 thousand to HK$64,072 thousand, primarily due to a HK$2,668 thousand loss for the period. Key Data from Condensed Consolidated Statement of Changes in Equity | Indicator | June 30, 2025 (HK$ thousand) | January 1, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Balance at Beginning of Period | 66,738 | 65,663 | | (Loss) Profit for the Period | (2,668) | 2,315 | | Other Comprehensive Income (Expense) | 2 | (2) | | Balance at End of Period | 64,072 | 67,976 | - Exchange fluctuation reserve slightly changed due to exchange differences on translation of overseas operations 10 Notes to the Unaudited Condensed Consolidated Financial Statements This section details the Group's general information, accounting policies, revenue breakdown, expenses, taxation, earnings per share, and key financial statement items. 1. General Information Wing Fung Group Asia Limited, incorporated in the Cayman Islands, provides mechanical ventilation and air-conditioning services, listed on GEM since 2018. - The Company was incorporated in the Cayman Islands as an exempted company on September 29, 2016 11 - The Group is principally engaged in the provision of supply, installation, and renovation services for mechanical ventilation and air-conditioning systems in buildings 11 - The Company's shares were listed on GEM of the Stock Exchange on February 27, 2018 12 2. Basis of Preparation Interim financial statements are prepared under HKAS 34 and GEM Listing Rules, with no material impact from new or revised HKFRSs applied this period. - The interim financial statements have been prepared in accordance with Hong Kong Accounting Standard 34 issued by the Hong Kong Institute of Certified Public Accountants and the disclosure requirements of the GEM Listing Rules 14 - The application of new and revised Hong Kong Financial Reporting Standards during the period had no material impact on the Group's financial performance and position 14 3. Revenue and Segment Information The Group's H1 2025 revenue from MVAC services in Hong Kong and Macau totaled HK$66,692 thousand, down 14.82%, with high reliance on key clients. - The Group's revenue is derived from providing supply, installation, and renovation services for mechanical ventilation and air-conditioning systems to external customers in Hong Kong and Macau 15 Revenue by Geographical Location | Geographical Location | H1 2025 (HK$ thousand) | H1 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong | 65,609 | 77,020 | | Macau | 1,083 | 1,276 | | Total | **66,6
荣丰集团亚洲(08526) - 2025 - 中期业绩