Financial Highlights This section presents key financial indicators for the first half of 2025 and 2024, highlighting growth in revenue, gross profit, and net profit 2025 H1 Key Financial Indicators | Indicator | 2025 H1 (RMB million) | 2024 H1 (RMB million) | YoY Growth | | :--- | :--- | :--- | :--- | | Revenue | 113.6 | 88.5 | 28.4% | | Gross Profit | 42.1 | 37.2 | 13.2% | | Profit for the Period | 25.1 | 21.3 | 17.8% | | Profit Attributable to Equity Holders | 25.1 | 21.6 | 16.2% | Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income This statement provides a summary of the Group's financial performance, including revenue, gross profit, operating profit, and net profit for the six months ended June 30, 2025 and 2024 Summary of Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 113,580 | 88,456 | | Cost of Sales | (71,467) | (51,248) | | Gross Profit | 42,113 | 37,208 | | Operating Profit | 30,709 | 26,251 | | Profit for the Period | 25,099 | 21,258 | | Basic and Diluted Earnings Per Share (RMB) | 0.18 | 0.20 | Interim Condensed Consolidated Statement of Financial Position This statement presents the Group's financial position, detailing non-current assets, current assets, current liabilities, and total equity as of June 30, 2025, and December 31, 2024 Summary of Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Non-current Assets | 104,078 | 145,953 | | Current Assets | 543,300 | 489,440 | | Current Liabilities | 42,968 | 37,021 | | Net Current Assets | 500,332 | 452,419 | | Total Assets Less Current Liabilities | 604,410 | 598,372 | | Total Equity | 604,410 | 598,372 | Notes to the Interim Condensed Consolidated Financial Information This section provides detailed explanatory notes to the interim condensed consolidated financial statements, covering accounting policies, revenue, expenses, and other financial items 1 Basis of Preparation This chapter outlines that the interim financial report is prepared in accordance with HKEX Listing Rules and IAS 34, using consistent accounting policies with the 2024 annual financial statements, and has been reviewed by KPMG - The report is prepared in accordance with the Listing Rules of the Stock Exchange of Hong Kong and International Accounting Standard 34, with accounting policies consistent with the 2024 annual financial statements9 - This interim financial report is unaudited but has been reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 241010 2 Revenue and Segment Reporting The Group generates revenue primarily from three business segments: insurance agency, IT services, and consulting services, with insurance agency being the main revenue driver showing significant growth - The Group's principal activities are providing insurance agency services, IT services, and consulting services in China11 (a) Disaggregation of Revenue This section disaggregates the Group's revenue by business segment and by the timing of revenue recognition from customer contracts for the periods presented Revenue by Business Segment | Business Segment | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Insurance Agency Business | 109,204 | 82,213 | | IT Services | 4,340 | 5,486 | | Consulting Services | 36 | 757 | | Total | 113,580 | 88,456 | Revenue from Contracts with Customers by Timing of Revenue Recognition | Timing of Revenue Recognition | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | At a point in time | 107,435 | 80,464 | | Over time | 6,145 | 7,992 | | Total | 113,580 | 88,456 | (b) Segment Reporting This section details the Group's management of its business across insurance agency, IT services, and consulting segments, with gross profit used as the key performance indicator - The Group manages its business through three reportable segments: insurance agency business, IT services, and consulting services, with gross profit used as the performance indicator for each segment1418 Gross Profit by Business Segment | Business Segment | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Insurance Agency Services | 39,627 | 33,260 | | IT Services | 2,450 | 3,413 | | Consulting Services | 36 | 535 | | Total | 42,113 | 37,208 | - The majority of the Group's operating assets and results are derived from China, thus no geographical segment analysis is provided20 3 Other Income Other income for the six months ended June 30, 2025, totaled RMB 4,260 thousand, a slight decrease from the prior year, mainly due to reduced government grants and negative other income items, partially offset by increased interest income Other Income Details | Item | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Interest Income | 5,098 | 3,959 | | Government Grants | – | 400 | | Others | (838) | 30 | | Total | 4,260 | 4,389 | 4 Profit Before Tax Profit before tax for the six months ended June 30, 2025, was RMB 30,697 thousand, influenced by a significant decrease in finance costs and an increase in staff costs and other items like referral fees (a) Finance Costs This section details the components of the Group's finance costs for the six months ended June 30, 2025, and 2024 Finance Costs Details | Item | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Interest expense on lease liabilities | – | 131 | | Others | 12 | 18 | | Total | 12 | 149 | (b) Staff Costs This section details the Group's staff costs, including salaries, wages, other benefits, and contributions to defined contribution retirement plans Staff Costs Details | Item | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Salaries, wages and other benefits | 13,581 | 12,998 | | Contributions to defined contribution retirement plans | 1,110 | 1,287 | | Total | 14,691 | 14,285 | (c) Other Items This section provides a breakdown of other operating expenses, including referral fees, commission fees, service fees, and depreciation Other Items Details | Item | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Referral fees | 62,051 | 40,228 | | Commission fees | 2,990 | 4,855 | | Service fees | 2,500 | 2,340 | | IT subcontracting fees | 1,015 | 376 | | Listing expenses | – | 676 | | Depreciation of property, plant and equipment | 54 | 76 | | Depreciation of right-of-use assets | 876 | 637 | 5 Income Tax in the Consolidated Statement of Profit or Loss Income tax expense for the six months ended June 30, 2025, was RMB 5,598 thousand, an increase from the prior year, primarily due to higher profit before tax and the company benefiting from high-tech enterprise and small-profit enterprise tax incentives (a) Tax in the Consolidated Statement of Profit or Loss This section details the components of income tax expense recognized in the consolidated statement of profit or loss Tax in Consolidated Statement of Profit or Loss Details | Item | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Current tax – PRC Enterprise Income Tax | 5,595 | 4,845 | | Deferred tax – Temporary differences | 3 | (1) | | Total | 5,598 | 4,844 | (b) Reconciliation of Tax Expense to Accounting Profit at Applicable Tax Rate This section reconciles the Group's tax expense with the accounting profit calculated at the applicable tax rate, considering various tax adjustments and incentives Tax Expense Reconciliation | Item | 2025 H1 (RMB thousand) | 2024 H1 (RMB thousand) | | :--- | :--- | :--- | | Profit before tax | 30,697 | 26,102 | | Income tax at statutory tax rate | 6,190 | 5,376 | | Super deduction for R&D expenses | (785) | (643) | | Tax effect of non-deductible expenses and others | 193 | 111 | | Total | 5,598 | 4,844 | - The Company, as a high-tech enterprise, enjoys a preferential income tax rate of 15%26 - Certain PRC subsidiaries are recognized as small-profit enterprises, benefiting from a preferential tax policy where the portion of taxable income not exceeding RMB 3 million is subject to a 25% reduction and taxed at a 20% enterprise income tax rate27 6 Earnings Per Share Net profit attributable to equity holders for the six months ended June 30, 2025, was RMB 25,063 thousand, resulting in basic and diluted earnings per share of RMB 0.18, a decrease from RMB 0.20 in the prior period, despite increased net profit, due to an increase in the weighted average number of ordinary shares outstanding Earnings Per Share Calculation | Indicator | 2025 H1 | 2024 H1 | | :--- | :--- | :--- | | Net profit attributable to equity holders (RMB thousand) | 25,063 | 21,588 | | Weighted average number of ordinary shares outstanding (thousand shares) | 141,196 | 105,896 | | Basic earnings per share attributable to equity holders (RMB) | 0.18 | 0.20 | - The weighted average number of ordinary shares outstanding increased due to the Company's listing on the Main Board of the Stock Exchange on August 6, 2024, with the issuance of 35,300,000 ordinary shares28 7 Trade and Bills Receivables Net trade and bills receivables as of June 30, 2025, increased significantly to RMB 56,388 thousand from RMB 41,965 thousand at the end of 2024, with the majority of receivables aged within three months Net Trade and Bills Receivables | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade and bills receivables | 56,455 | 42,048 | | Less: Impairment allowance | (67) | (83) | | Net Amount | 56,388 | 41,965 | Ageing Analysis of Trade Receivables | Ageing | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Within 3 months (inclusive) | 53,711 | 41,277 | | 3 to 6 months (inclusive) | 1,136 | 596 | | Over 6 months | 1,541 | 92 | | Net Amount | 56,388 | 41,965 | 8 Cash and Cash Equivalents, Restricted Cash and Time Deposits As of June 30, 2025, cash and cash equivalents significantly increased to RMB 286,923 thousand, while total time deposits (current and non-current) decreased, and restricted cash notably increased, primarily due to funds collected on behalf of others (a) Cash and Cash Equivalents This section provides a breakdown of the Group's cash and cash equivalents, including bank deposits and amounts placed with other financial institutions Cash and Cash Equivalents Details | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Bank deposits | 286,803 | 169,691 | | Amounts placed with other financial institutions | 120 | 30 | | Total | 286,923 | 169,721 | (b) Time Deposits This section details the Group's time deposits, categorized into current and non-current assets Time Deposits Details | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Current assets – Time deposits | 177,457 | 262,638 | | Non-current assets – Time deposits | 94,709 | 136,282 | | Total | 272,166 | 398,920 | (c) Restricted Cash This section details the components of restricted cash, including margins and funds collected on behalf of others Restricted Cash Details | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Non-current assets – Margin deposits | 7,826 | 7,736 | | Current assets – Funds collected on behalf of others | 16,601 | 7,372 | | Total | 24,427 | 15,108 | - Funds collected on behalf of others primarily include premiums collected on behalf of insurance companies but not yet remitted37 - Qingdao Haier Insurance Agency Co., Ltd. is required to maintain 15% of its registered capital as working capital reserves37 9 Trade and Other Payables Total trade and other payables as of June 30, 2025, increased to RMB 33,375 thousand from RMB 26,896 thousand at the end of 2024, primarily driven by a substantial increase in premiums payable Trade and Other Payables Details | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Amounts due to suppliers | 15,899 | 16,329 | | Premiums payable | 12,429 | 2,474 | | Dividends payable | 77 | – | | Accrued listing expenses | – | 1,029 | | Others | 4,970 | 7,064 | | Total | 33,375 | 26,896 | - Premiums payable represent premiums collected on behalf of insurance companies but not yet remitted as of the balance sheet date38 10 Capital and Reserves As of June 30, 2025, total equity attributable to the Company's equity holders was RMB 606,197 thousand, with this section detailing share capital issuance, PRC statutory reserve requirements, and dividends paid (a) Contributed Capital/Share Capital and Capital Reserve This section outlines the issuance of ordinary shares and the allocation of proceeds to share capital and capital reserve - On August 6, 2024, the Company issued 35,300,000 ordinary shares with a par value of RMB 1 each, with proceeds of RMB 35,300,000 credited to share capital39 - After deducting share issue costs, approximately RMB 153,028,003 was credited to the capital reserve account39 (b) PRC Statutory Reserves This section explains the requirements for the Group's PRC subsidiaries to appropriate 10% of their after-tax profit to statutory reserves until the reserve reaches 50% of registered capital - The Group is required to appropriate 10% of its after-tax profit to statutory reserves until the reserve reaches 50% of its registered capital40 - Statutory reserves can be used to offset prior year losses and may be converted into capital in proportion to equity, provided that the remaining reserve balance is not less than 25% of the entity's registered capital after conversion40 (c) Dividends This section details the final dividend for 2024 of RMB 0.135 per share, totaling RMB 19,061,406, which was paid before July 4, 2025 - The 2024 final dividend of RMB 0.135 per share, totaling RMB 19,061,406, was paid before July 4, 202541 11 Non-Adjusting Post Balance Sheet Events On August 22, 2025, the Company entered into an agreement to conditionally acquire a 55% equity interest in Beijing Kechuang Rongxin Technology Co., Ltd. for RMB 165 million in cash - On August 22, 2025, the Company entered into an agreement to conditionally acquire a 55% equity interest in Beijing Kechuang Rongxin Technology Co., Ltd. for RMB 165 million in cash42 Management Discussion and Analysis This section provides an overview of the Group's business performance, financial results, and future outlook, emphasizing its commitment to an intelligent insurance service platform and AI technology Business Review The Group is dedicated to building a one-stop intelligent insurance service platform, promoting full-process digital upgrades, and increasing investment in AI and big data technologies, achieving significant growth in revenue and net profit for the six months ended June 30, 2025 - The Group is committed to building and improving a one-stop intelligent insurance service platform, promoting full-process digital upgrades from underwriting to policy management and claims services43 - Continuous investment in cutting-edge technologies such as artificial intelligence, big data, and blockchain is a key focus43 2025 H1 Business Review Key Indicators | Indicator | 2025 H1 (RMB million) | 2024 H1 (RMB million) | YoY Growth | | :--- | :--- | :--- | :--- | | Operating Revenue | 113.6 | 88.5 | 28.4% | | Net Profit Attributable to Equity Holders | 25.1 | 21.6 | 16.2% | Insurance Agency Business This section reviews the performance of the insurance agency business, highlighting significant increases in gross premiums and commission income, driven by platform optimization and new partnerships, despite a decline in life and health insurance - Gross premiums facilitated by the insurance agency business increased by 40.5% from RMB 666.2 million to RMB 936.0 million in the first half of the year44 - Insurance agency business commission income rose by 32.8% from RMB 82.2 million to RMB 109.2 million, accounting for 96.1% of total revenue44 - Commission income from property insurance products grew by 47.4% to RMB 52.9 million, driven by optimization of the enterprise insurance interactive service platform and product iterations44 - Commission income from accident and auto insurance products increased by 38.6% to RMB 47.4 million, primarily due to the introduction of new strategic channel partners44 - Commission income from life and health insurance products decreased by 26.4% to RMB 8.9 million, affected by the overall economic situation in China, weakened consumer demand, and the "reporting and execution in one" policy44 IT Services This section reviews the performance of IT services, noting a decrease in revenue primarily due to the timing of IT project acceptance milestones - IT services revenue decreased by 21.8% from RMB 5.5 million to RMB 4.3 million45 - The decline in revenue was mainly due to the timing of IT project acceptance milestones45 - IT services revenue accounted for 3.8% of total revenue45 Consulting Services This section describes the consulting services offered by the Group, including human resources consulting, management and recruitment strategy advice, and marketing and promotion services - The Group provides human resources consulting services and marketing and promotion services, including management and recruitment strategy advice, direct recruitment services, and design of promotional materials and advertisements46 Outlook The Group's long-term strategic goals include achieving sustainable development by expanding its ecosystem, proactively embracing AI technology, particularly in risk reduction and smart claims, and making prudent investments and acquisitions in the insurance intermediary and FinTech industries Continuous Expansion of Ecosystem This section outlines the strategy to expand the ecosystem through collaborative models, offering extended services beyond insurance, and actively developing a comprehensive FinTech business ecosystem - The Group aims to expand its ecosystem through a co-creation model, establishing connections with more companies to offer a wider range of insurance product solutions47 - Services will extend beyond insurance, providing ecosystem services that originate from but are not limited to insurance, thereby enhancing user stickiness47 - The Group plans to seize opportunities in financial digital development, actively expand its FinTech business landscape, and build a comprehensive FinTech business ecosystem47 Proactive Embrace of AI This section details the Group's "AI+" strategy, focusing on enhancing risk reduction through comprehensive information collection and smart management, and improving smart claims processing with large models and rule engines for higher accuracy and efficiency - The "AI+" strategy will be deepened, with a focus on AI+ risk reduction through large models and big data technology to build a comprehensive information collection network, enabling intelligent hierarchical management, real-time warnings, and interventions to enhance warehouse safety management and emergency response efficiency48 - Smart claims processing will be advanced using large models and rule engines to achieve intelligent collection of all medical bill details nationwide, dynamic correction of standard databases, improving collection accuracy, and adapting precise claims assessment algorithms to enhance claims efficiency and reasonably reduce losses48 Prudent Investments and Acquisitions in the Insurance Intermediary and FinTech Industries This section outlines the Group's intention to actively seek strategic investment and acquisition opportunities in the insurance intermediary and FinTech sectors to accelerate business development and enhance overall competitiveness - The Group intends to actively seek strategic investment and acquisition opportunities in the insurance intermediary and FinTech industries to accelerate business development and enhance overall competitiveness48 - Key considerations for investment and acquisition targets include their ability to strategically complement the Group's business in terms of technological capabilities, resource channels, or talent teams48 Financial Review For the six months ended June 30, 2025, the Group experienced increases in revenue, gross profit, R&D costs, general and administrative expenses, and income tax, while selling and marketing costs and finance costs decreased, leading to a slight decline in overall net profit margin Revenue This section reviews the Group's total revenue, which increased by 28.4% to RMB 113.6 million, primarily driven by higher insurance agency business income, despite a decrease in IT services revenue - Total revenue increased by 28.4% from RMB 88.5 million to RMB 113.6 million, primarily due to increased revenue from the insurance agency business49 - The increase in insurance agency business commission income was mainly attributable to the optimization and upgrade of the enterprise insurance interactive service platform and the addition of new strategic channel partners49 - IT services revenue decreased, primarily due to the timing of IT project acceptance milestones49 Gross Profit and Gross Profit Margin This section reviews the Group's gross profit, which increased to RMB 42.1 million, while the overall gross profit margin decreased to 37.1%, mainly due to a higher proportion of lower-margin property insurance products within the insurance agency business - Overall gross profit increased from RMB 37.2 million to RMB 42.1 million50 - The overall gross profit margin decreased from 42.0% to 37.1%50 - The decrease in gross profit margin was mainly attributable to a decline in the gross profit margin of the insurance agency business, due to an increased proportion of commission income from property insurance products, which have relatively lower distribution gross margins50 Other Income This section reviews the Group's other income, which slightly decreased to RMB 4.3 million, primarily due to increased exchange losses, partially offset by higher interest income from time deposits - Other income decreased from RMB 4.4 million to RMB 4.3 million51 - The decrease was mainly due to increased exchange losses, partially offset by increased interest income from time deposits51 Research and Development Costs This section reviews the Group's R&D costs, which slightly increased to RMB 4.7 million, primarily due to higher staff costs resulting from an increased number of R&D employees - Research and development costs slightly increased from RMB 4.4 million to RMB 4.7 million52 - The increase was due to higher staff costs resulting from an increased number of R&D employees52 General and Administrative Expenses This section reviews the Group's general and administrative expenses, which increased to RMB 8.1 million, mainly due to higher personnel costs aimed at improving corporate governance and motivating management - General and administrative expenses increased from RMB 6.9 million to RMB 8.1 million53 - The increase was mainly due to higher personnel costs aimed at improving corporate governance and enhancing the motivation of management personnel53 Selling and Marketing Costs This section reviews the Group's selling and marketing costs, which decreased to RMB 2.8 million, primarily attributed to optimized business processes and enhanced organizational efficiency - Selling and marketing costs decreased from RMB 4.1 million to RMB 2.8 million54 - The decrease was mainly attributable to optimized business processes and enhanced organizational efficiency54 Finance Costs This section reviews the Group's finance costs, which significantly decreased to RMB 12 thousand, mainly due to reduced interest expenses on lease liabilities - Finance costs decreased from RMB 149 thousand to RMB 12 thousand55 - The decrease was mainly due to reduced interest expenses on lease liabilities55 Income Tax This section reviews the Group's income tax, which increased to RMB 5.6 million, primarily due to higher profit before tax resulting from business growth - Income tax increased from RMB 4.8 million to RMB 5.6 million56 - The increase was mainly due to higher profit before tax resulting from business growth56 Profit This section reviews the Group's profit for the period, which increased to RMB 25.1 million, although the net profit margin decreased to 22.1% - Profit for the period increased from RMB 21.3 million to RMB 25.1 million57 - The net profit margin decreased from 24.1% to 22.1%57 Financial Position The Group's net assets slightly increased from RMB 598.4 million at the end of 2024 to RMB 604.4 million as of June 30, 2025, primarily due to increased operating profit during the period, partially offset by cash dividends paid Financial Position Summary | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Non-current Assets | 104,078 | 145,953 | | Current Assets | 543,300 | 489,440 | | Current Liabilities | 42,968 | 37,021 | | Net Assets | 604,410 | 598,372 | - Net assets slightly increased due to higher operating profit during the period, partially offset by cash dividends paid58 Cash and Cash Equivalents and Time Deposits in Other Financial Assets The total of cash and cash equivalents and time deposits in other financial assets decreased from RMB 568.6 million at the end of 2024 to RMB 559.1 million as of June 30, 2025, mainly due to cash dividends paid and delayed collection of trade receivables, partially offset by increased operating profit Total Cash and Other Financial Assets in Time Deposits | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Cash and cash equivalents | 286,923 | 169,721 | | Time deposits in other financial assets – Current portion | 177,457 | 262,638 | | Time deposits in other financial assets – Non-current portion | 94,709 | 136,282 | | Total | 559,089 | 568,641 | - The total amount decreased mainly due to cash dividends paid and delayed collection of trade receivables, partially offset by increased operating profit during the period60 Liquidity and Financial Resources As of June 30, 2025, the Group's net current assets were RMB 500.3 million, with total cash and cash equivalents and time deposits in other financial assets amounting to RMB 559.1 million, indicating sufficient liquidity for operations and strategic investments in the coming year - As of June 30, 2025, net current assets were RMB 500.3 million (December 31, 2024: RMB 452.4 million)61 - Total cash and cash equivalents and time deposits in other financial assets amounted to RMB 559.1 million61 - The Group will have sufficient liquidity to meet its working capital requirements for the next year and maintain financial flexibility for future strategic investment opportunities61 Gearing Ratio As of June 30, 2025, the Group's gearing ratio was 0.0035%, reflecting a very low level of leverage - As of June 30, 2025, the gearing ratio was 0.0035%62 Bank Borrowings As of June 30, 2025, the Group had no bank borrowings - As of June 30, 2025, the Group had zero bank borrowings63 Contingent Liabilities As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities64 Capital Commitments For the six months ended June 30, 2025, the Group incurred no capital commitments - For the six months ended June 30, 2025, the Group incurred no capital commitments (RMB 11 thousand for the same period last year)65 Dividends The Board of Directors does not recommend the payment of any interim dividend for the six months ended June 30, 2025 - The Board of Directors does not recommend the payment of any interim dividend for the six months ended June 30, 202566 Use of Net Proceeds from Global Offering The net proceeds from the global offering were approximately HKD 198.9 million, with HKD 1.2 million utilized by June 30, 2025, for enhancing IT service products and R&D capabilities, while the majority remains unutilized and is planned for developing insurance agency business, improving IT services, prudent investments, and general working capital - The net proceeds from the global offering were approximately HKD 198.9 million67 Use of Net Proceeds from Global Offering and Utilization Status | Main Use | Approximate Percentage | Total Net Proceeds Allocated (HKD million) | Amount Utilized (June 30, 2025) (HKD million) | Unutilized Amount (June 30, 2025) (HKD million) | Expected Timeline for Unutilized Proceeds | | :--- | :--- | :--- | :--- | :--- | :--- | | Development of insurance agency business | 53.8% | 107.0 | – | 107.0 | Before end of 2027 | | Enhancement of IT service products and R&D capabilities | 26.2% | 52.1 | 1.2 | 50.9 | Before end of 2029 | | Seeking prudent investments and acquisitions | 10.0% | 19.9 | – | 19.9 | Before end of 2026 | | General working capital and general corporate purposes | 10.0% | 19.9 | – | 19.9 | Before end of 2027 | | Total | 100.0% | 198.9 | 1.2 | 197.7 | | Corporate Governance Code The Company has adopted and complied with all principles and code provisions of the Corporate Governance Code as set out in Appendix C1 of the Listing Rules during the reporting period - The Company has adopted the Corporate Governance Code as set out in Appendix C1 of the Listing Rules and has complied with all principles and code provisions during the reporting period69 - The roles of Chairman and Chief Executive Officer are combined and held by Mr. Lu Yao, an arrangement the Board believes ensures consistent internal leadership and enhances overall strategic planning efficiency70 Standard Code for Securities Transactions 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, with all directors and supervisors confirming compliance during the 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 Rules71 - All directors and supervisors confirmed compliance with the required standards of the Standard Code for the six months ended June 30, 202571 Purchase, Sale or Redemption of Listed Securities For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities72 Review of Interim Financial Information The Company's unaudited condensed consolidated interim results have been reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 2410 and by the Audit Committee of the Board - The Company's unaudited condensed consolidated interim results have been reviewed by KPMG in accordance with Hong Kong Standard on Review Engagements 241073 - The interim results have also been reviewed by the Audit Committee of the Board73 Post Balance Sheet Events On August 22, 2025, the Company entered into an agreement to conditionally acquire a 55% equity interest in Beijing Kechuang Rongxin Technology Co., Ltd. for RMB 165 million in cash - On August 22, 2025, the Company entered into an agreement to conditionally acquire a 55% equity interest in Beijing Kechuang Rongxin Technology Co., Ltd. for RMB 165 million in cash74 Publication of Results Announcement and Interim Report This interim results announcement has been published on the HKEX website and the Company's website, with the full 2025 interim report to be dispatched to shareholders and posted online in due course - This interim results announcement has been published on the HKEX website (www.hkexnews.hk) and the Company's website (www.haierbx.net)[76](index=76&type=chunk) - The 2025 interim report, containing all information required by the Listing Rules, will be dispatched to shareholders and posted on the respective websites of the Stock Exchange and the Company in due course76 Acknowledgement The Board extends its sincere gratitude to the Group's management and all employees for their efforts and contributions during the period, as well as to shareholders, business partners, and other professionals for their support - The Board extends its sincere gratitude to the Group's management and all employees for their efforts and contributions during the period, as well as to shareholders, business partners, and other professionals for their support77 By Order of the Board This section lists the executive directors, Mr. Lu Yao, Mr. Zhang Zhiquan, Ms. Li Tian, and Mr. Wang Heping, and independent non-executive directors, Ms. Fang Qiaoling, Mr. Zhong Weiwen, and Ms. Wu Xianqiao - The executive directors are Mr. Lu Yao, Mr. Zhang Zhiquan, Ms. Li Tian, and Mr. Wang Heping78 - The independent non-executive directors are Ms. Fang Qiaoling, Mr. Zhong Weiwen, and Ms. Wu Xianqiao78
众淼控股(01471) - 2025 - 中期业绩