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泰达生物(08189) - 2025 - 中期业绩

Cover and Disclaimer GEM Features and Disclaimer This semi-annual report for Tianjin TEDA Biomedical Engineering Co., Ltd. on GEM is confirmed by directors as accurate, with the Stock Exchange disclaiming responsibility - GEM is positioned as a listing market for small and medium-sized companies with high investment risk, where securities may be subject to significant market volatility2 - The company's directors jointly and individually assume full responsibility for the information in this announcement, confirming its accuracy, completeness, and absence of misleading content2 Summary Financial Highlights Group turnover increased by 7.01% and gross profit by 14.07%, but loss attributable to equity holders expanded to RMB 6.43 million, with no dividend recommended 2025 H1 Financial Highlights | Indicator | 2025 H1 (RMB) | 2024 H1 (RMB) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Consolidated Turnover | 226,407,014 | 211,568,049 | +7.01% | | Consolidated Gross Profit | 13,820,662 | 12,115,570 | +14.07% | | Loss Attributable to Equity Holders of the Company | (6,426,384) | (4,123,183) | Loss expanded | | Loss Per Share | 0.317 cents | 0.218 cents | Loss expanded | - The Board does not recommend the payment of a dividend for the six months ended June 30, 20254 Semi-Annual Results (Unaudited) Condensed Consolidated Income Statement Turnover increased to RMB 226.41 million and gross profit to RMB 13.82 million, but increased R&D and administrative expenses led to an expanded loss of RMB 8.43 million Condensed Consolidated Income Statement (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Turnover | 226,407,014 | 211,568,049 | | Cost of Sales | (212,586,352) | (199,452,479) | | Gross Profit | 13,820,662 | 12,115,570 | | Other Expenses and Losses / Income, Net | 235,587 | (50,195) | | Selling and Distribution Costs | (3,960,302) | (7,053,114) | | Research and Development and Administrative Expenses | (16,551,751) | (8,559,614) | | Finance Costs | (1,973,895) | (1,977,660) | | (Loss) / Profit Before Tax | (8,429,699) | (5,525,013) | | Income Tax | – | – | | (Loss) / Profit for the Period | (8,429,699) | (5,525,013) | | (Loss) / Profit for the Period Attributable to Owners of the Company | (6,426,384) | (4,123,183) | | (Loss) / Profit for the Period Attributable to Non-controlling Interests | (2,003,313) | (1,401,830) | | Loss Per Share - Basic (RMB) | 0.317 cents | 0.218 cents | Condensed Consolidated Statement of Financial Position Total assets increased to RMB 415.16 million, net current assets turned positive to RMB 29.71 million, and total equity grew to RMB 100.91 million Condensed Consolidated Statement of Financial Position (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Total Non-current Assets | 98,078,794 | 98,533,260 | | Total Current Assets | 317,084,756 | 233,993,789 | | Total Assets | 415,163,551 | 332,527,049 | | Total Current Liabilities | 287,372,895 | 279,065,167 | | Net Current Assets | 29,711,861 | (45,071,379) | | Total Non-current Liabilities | 26,884,872 | 25,021,945 | | Net Assets | 100,905,783 | 28,439,937 | | Equity Attributable to Owners of the Company | 96,618,228 | 22,149,069 | | Total Equity | 100,905,783 | 28,439,937 | Condensed Consolidated Statement of Cash Flows Operating cash flow shifted to a net outflow of RMB 98.40 million, investing activities to a net inflow of RMB 6.72 million, and financing activities significantly increased to a net inflow of RMB 78.55 million Condensed Consolidated Statement of Cash Flows (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (98,397,585) | 8,044,015 | | Net Cash From Investing Activities | 6,718,101 | (748,742) | | Net Cash From Financing Activities | 78,550,043 | 4,970,000 | | Net Change in Cash and Bank Balances | (13,129,441) | 12,265,273 | | Cash and Bank Balances at End of Period | 52,270,511 | 18,199,595 | - Net cash inflow from financing activities primarily resulted from the issuance of shares, amounting to RMB 81,190,0438 Notes to the Condensed Consolidated Financial Statements 1. Basis of Presentation and Accounting Policies Financial statements are prepared under HKFRS and GEM Listing Rules on a going concern basis, with no significant impact from new standards - The financial statements are prepared under the historical cost convention and Hong Kong Financial Reporting Standards, on a going concern basis9 - New and revised Hong Kong Financial Reporting Standards adopted during the period had no significant impact on the Group's unaudited operating results and financial position9 2. Revenue Total revenue reached RMB 226.41 million, with fertilizer products contributing RMB 182.99 million and elderly care and health business significantly growing to RMB 43.42 million Revenue Analysis (For the six months ended June 30) | Business Category | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Fertilizer Products | 182,987,005 | 211,314,827 | | Elderly Care and Health | 43,420,010 | 253,222 | | Total | 226,407,014 | 211,568,049 | - Revenue from elderly care and health business significantly increased from RMB 253,222 in 2024 to RMB 43,420,010 in 202510 3. Finance Costs Finance costs, mainly bank loan interest and charges, totaled RMB 1.97 million, remaining largely consistent with the prior year Finance Costs (For the six months ended June 30) | Item | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Bank Loan Interest Expenses and Bank Charges | 1,973,895 | 1,977,660 | 4. Taxation Corporate income tax rate is 25%, with preferential rates for high-tech (15%) and small enterprises (5%), and zero income tax expense in Hong Kong and China - Guangdong Fulilong Compound Fertilizer Co., Ltd. enjoys a 15% preferential tax rate as a high-tech enterprise11 - Some Chinese subsidiaries qualify as small enterprises, enjoying a 5% preferential income tax rate11 Income Tax Expense (For the six months ended June 30) | Jurisdiction | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Hong Kong | – | – | | Other Jurisdictions | – | – | - Income tax expenses in Hong Kong and China were zero for the period12 5. Loss Per Share Basic loss per share attributable to owners expanded to RMB 0.317 cents, up from RMB 0.218 cents, due to increased loss and weighted average shares Loss Per Share Calculation (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Loss for Calculation of Basic Loss Per Share | (6,426,384) | (4,123,183) | | Weighted Average Number of Ordinary Shares | 2,024,487,845 | 1,894,500,000 | 6. Additions to Property, Plant and Equipment Expenditure on property, plant, and equipment additions was approximately RMB 834,918, an increase from the prior year - The Group's expenditure on additions to property, plant and equipment during the period was approximately RMB 834,918 (2024: RMB 613,742)16 7. Trade and Bills Receivables Net trade receivables significantly increased to RMB 34.22 million, driven by a rise in receivables aged within three months, with ongoing credit assessments Trade and Bills Receivables (As of June 30) | Item | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Trade Receivables, Net | 34,217,576 | 10,818,520 | Ageing Analysis of Trade Receivables (As of June 30) | Ageing | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Within 3 Months | 29,372,239 | 1,257,380 | | Over 3 Months but Within 6 Months | 62,237 | 3,717,203 | | Over 6 Months | 4,783,099 | 5,843,937 | 8. Prepayments and Other Receivables Total prepayments and other receivables increased to RMB 146.61 million, primarily driven by higher net other receivables and deposits and prepayments Prepayments and Other Receivables (As of June 30) | Item | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Other Receivables, Net | 12,749,745 | 3,490,539 | | Deposits and Prepayments | 133,859,849 | 78,976,908 | | Total | 146,609,595 | 82,467,447 | 9. Trade Payables Total trade payables significantly increased to RMB 33.08 million, mainly due to a notable rise in payables aged within three months Ageing Analysis of Trade Payables (As of June 30) | Ageing | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Within 3 Months | 27,782,169 | 2,180,601 | | Over 3 Months but Within 6 Months | 20,467 | 166,500 | | Over 6 Months | 5,281,368 | 6,584,577 | | Total | 33,084,003 | 8,931,678 | 10. Other Payables and Accruals Total other payables and accruals increased to RMB 81.59 million, primarily driven by an increase in other payables Other Payables and Accruals (As of June 30) | Item | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Other Payables | 58,578,315 | 31,008,970 | | Consideration for Acquisition of a Subsidiary | 2,206,900 | 2,206,900 | | Accruals | 4,141,108 | 6,278,834 | | Advances Received | 13,379,852 | 13,379,852 | | Amounts Due to Directors | 322,381 | 315,000 | | Social Welfare Fund Payable | 2,965,152 | 2,965,152 | | Total | 81,593,708 | 56,154,708 | 11. Share Capital Authorized and issued share capital increased, with domestic shares growing significantly, bringing total par value to RMB 213.39 million Share Capital Structure (As of June 30) | Category | Number of Shares as of June 30, 2025 | Par Value as of June 30, 2025 (RMB thousands) | Number of Shares as of December 31, 2024 | Par Value as of December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | :--- | :--- | | Authorized Share Capital | 2,133,900,000 | 213,390 | 1,894,500,000 | 189,450 | | Issued and Fully Paid Domestic Shares | 1,436,400,000 | 143,640 | 697,500,000 | 69,750 | | Issued and Fully Paid H Shares | 697,500,000 | 69,750 | 1,197,000,000 | 119,700 | | Total | 2,133,900,000 | 213,390 | 1,894,500,000 | 189,450 | 12. Capital Commitments The Group had no significant capital commitments not provided for in the condensed consolidated financial statements as of June 30, 2025 - As of June 30, 2025, the Group had no significant capital commitments not provided for in its condensed consolidated financial statements23 13. Contingent Liabilities The company provided guarantees for bank facilities to subsidiaries amounting to RMB 0, consistent with the prior year - The company has provided guarantees for bank facilities granted to certain subsidiaries amounting to RMB 0 (June 2024: RMB 0)24 Interim Dividend The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (June 2024: nil)25 Condensed Consolidated Statement of Changes in Equity Equity attributable to owners significantly increased from RMB 22.15 million to RMB 96.62 million, driven by share issuance despite a period loss Condensed Consolidated Statement of Changes in Equity (As of June 30) | Item | June 30, 2025 (RMB) | June 30, 2024 (RMB) | | :--- | :--- | :--- | | Balance at January 1 | 22,149,069 | 49,951,308 | | Net Profit Attributable to Equity Holders of the Company | (6,426,384) | (4,123,183) | | Issuance of Shares | 80,895,544 | 0 | | Balance at June 30 | 96,618,228 | 45,828,125 | - The issuance of shares resulted in an equity increase of RMB 80,895,54426 Management Discussion and Analysis Business Review The Group operates in bio-compound fertilizers, AI medical elderly care, and data services, focusing on large medical models and comprehensive data solutions - The Group's three major business areas are bio-compound fertilizers, AI medical elderly care, and data services27 - The AI medical elderly care business collaborates with hospitals under Peking University Health Science Center to develop serious medical large models based on millions of real patient cases27 - The data business, as a core ecological partner of Shenzhen Institute of Advanced Computing, provides end-to-end services including data cleaning, database construction, and intelligent data analysis27 Compound Fertilizer Business H1 2025 saw structural adjustments in compound fertilizer raw materials, with rising potash prices and stable downstream demand, while the Group's business covers diverse products with comprehensive management - In H1 2025, potash prices increased by 15%-20%, becoming the primary driver of rising compound fertilizer costs29 - Downstream demand for compound fertilizers remained stable with progress, showing strong resilience and vitality in the economic crop sector29 - The Group's compound fertilizer products include high-tower compound fertilizers, sulfur-based, chlorine-based, and nitrate-based types, characterized by high nutrient content and environmental friendliness32 - Through informatization, the Group has established a comprehensive operational management model across five business segments: procurement, production, marketing, logistics, and finance32 Compound Fertilizer Industry Development H1 2025 saw structural adjustments in raw materials, with nitrogen prices falling, potash rising, and compound fertilizer prices fluctuating, while downstream demand remained resilient - Nitrogen fertilizer prices showed an overall downward trend in H1, constrained by overcapacity and export restrictions29 - Tight potash supply dominated the market, with a 15%-20% increase in H1, becoming the core driver of rising compound fertilizer costs29 - Compound fertilizer prices exhibited a divergent trend of "rising in Q1 and high-level fluctuations in Q2"29 - Downstream demand remained stable with progress, showing extremely strong resilience and vitality in the economic crop sector29 - Market trends necessitate fertilizer enterprises to continuously research and develop new products, improve product quality and efficacy, and strengthen environmental protection facilities31 Group's Compound Fertilizer Business Development The Group's compound fertilizer business offers diverse products for various crops, supported by strategic procurement, sales-driven production, and multi-channel distribution - Products primarily include high-tower compound fertilizers, categorized by nutrient source (sulfur-based, chlorine-based, nitrate-based) and type (high-concentration, micro-element, water-soluble, slow/controlled-release, seaweed, bio-fertilizers, crop-specific, horticultural fertilizers)32 - Procurement models include strategic procurement and order-based procurement, establishing long-term partnerships with major raw material suppliers33 - Production is sales-driven, with bases in Weifang, Shandong and Dongguan, Guangdong, and expanded offerings of liquid and water-soluble compound fertilizers to meet market demand33 - Marketing primarily uses distributor networks, established the well-known brand "Fulilong", and built e-commerce sales platforms33 AI Medical Elderly Care Business The Group manages 50 elderly care institutions under 'Ruifu Elderly Care' and, through share placements and collaboration with Peking University, developed the bilingual 'Xihe-1' AI medical large model, trained on millions of real patient cases - The Group's core elderly care team has been engaged in elderly care since 1999, establishing the "Ruifu Elderly Care" brand and managing 50 elderly care institutions in Shanghai34 - In H1 2025, two rounds of share placements were completed, raising net proceeds of approximately HKD 88.8 million for purchasing and developing AI medical health software platforms35 - Collaborated with hospitals under Peking University Health Science Center to establish Beijing Boya Quan Jian Smart Computing Technology Co., Ltd., focusing on the deep integration of artificial intelligence and medical health technology36 - Jointly developed the bilingual "Xihe-1" medical large model with Peking University Third Hospital over ten years, trained on millions of real patient cases using closed-source data, achieving an accuracy rate of over 90%37 - Key advantages of "Xihe-1" include training on closed data, pathology evidence-driven decision-making, and a dual engine of "natural language interaction + traceable knowledge reasoning" empowering clinical decisions3738 - Jointly developed the "Xihe-1" pre-diagnosis and triage integrated machine with Xiamen Hongxin Electronics Technology Group subsidiary Suihong Huachuang, with plans for focused promotion in grassroots medical care38 Data Business The Group established Shenzhen Yishu Jingcheng Technology Co., Ltd. for data governance, providing high-quality data for AI medical models and full-process data services to clients, supported by strategic partnerships - Established controlling subsidiary Shenzhen Yishu Jingcheng Technology Co., Ltd. as an officially certified core ecological partner of Shenzhen Institute of Advanced Computing, engaging in data governance40 - Yishu Jingcheng provides high-quality data for the company's AI medical large model training and offers external clients end-to-end services including data cleaning, intelligent analysis, and customized model training40 - Achieved strategic cooperation with Peking University Third Hospital to jointly develop "Xihe-1" and acquire millions of real patient cases of closed-source medical data for training40 - Signed a strategic cooperation agreement with China Telecom Digital Intelligence Technology Co., Ltd. Ningxia Branch to jointly build a medical health ecosystem platform and an "AI + Medical Health" industrial park41 - Signed an ecological cooperation agreement with Shenzhen Institute of Advanced Computing, where Yishu Jingcheng handles client engagement and demand identification, and Shenzhen Institute of Advanced Computing provides technical support including Yashan Database, Caishiqi Data Quality System, and Diaoyucheng Data Analysis System41 Financial Performance Review Turnover grew 7.01%, gross profit 14.07%, and gross margin to 6.10%, but a 93.37% surge in R&D and administrative expenses led to an expanded loss Key Financial Indicators Change (For the six months ended June 30) | Indicator | 2025 (RMB) | 2024 (RMB) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Total Turnover | 226,407,014 | 211,568,049 | +7.01% | | Consolidated Gross Profit | 13,820,662 | 12,115,570 | +14.07% | | Operating Consolidated Gross Profit Margin | 6.10% | 5.73% | +0.37% | | Selling and Distribution Costs | 3,960,302 | 7,053,114 | -43.85% | | Research and Development and Administrative Expenses | 16,551,751 | 8,559,614 | +93.37% | | Finance Costs | 1,973,895 | 1,977,660 | -0.19% | | Loss Attributable to Equity Holders of the Company | 6,426,384 | 4,123,183 | Loss expanded | - The growth in operating revenue was primarily attributable to the rapid development of the elderly care and health business segment42 - The decrease in selling and distribution costs was mainly due to strengthened expense control, achieving cost reduction and efficiency improvement through travel expense reimbursement system reform and refined channel management43 Liquidity, Financial Resources and Capital Structure Bank and cash balances were RMB 52.27 million, short-term borrowings decreased, total assets and equity grew, and financial health improved with lower debt ratios and a current ratio of 1.10 Liquidity and Capital Structure Indicators (As of June 30) | Indicator | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Bank and Cash Balances | 52,270,511 | 65,399,950 | | Short-term Borrowings | 83,830,000 | 134,670,000 | | Total Assets | 415,163,551 | 332,527,049 | | Shareholders' Equity | 100,905,783 | 28,439,937 | | Consolidated Debt-to-Asset Ratio | 0.76 | 0.91 | | Capital-to-Debt Ratio | 0.24 | 0.45 | | Current Ratio | 1.10 | 0.84 | - Primary funding sources were bank financing and proceeds from share placements47 - Short-term borrowing interest rates ranged from 2.90% to 3.55%47 Pledges of Assets and Contingent Liabilities As of June 30, 2025, the Group and company had contingent liabilities of RMB 0 for pledges and guarantees related to subsidiary bank loans - As of June 30, 2025, the Group and the company had contingent liabilities of RMB 0 for pledges and guarantees provided for bank loans granted to its subsidiaries49 Foreign Currency Risk Foreign currency risk is minimal as all Group sales and payments are settled in RMB - All the Group's sales and payments are settled in RMB, thus the foreign currency risk faced is minimal50 Treasury Policy Bank borrowings are RMB-settled and typically renewed annually, with cash balances deposited in licensed Chinese banks - The Group's bank borrowings are settled in RMB and generally renewed for one year upon maturity51 - Any cash balances are deposited as funds in licensed banks in China51 Outlook The company will focus on R&D and commercialization of AI medical large models and data businesses, deepening partnerships to enhance existing elderly care services with AI - The company will continue to fully commit to the R&D and commercialization of AI medical large models and data businesses52 - Deepen cooperation with top-tier hospitals like Peking University Third Hospital and Peking University People's Hospital, utilizing real patient case data for model training52 - Deepen cooperation with Shenzhen Institute of Advanced Computing, providing end-to-end data services for medical institutions, enterprises, government departments, and industry AI applications52 - Deeply empower existing elderly care services with AI medical technology to enhance service efficiency and quality52 Other Information Directors' and Supervisors' Interests in Shares, Related Shares and Debentures As of June 30, 2025, no directors, supervisors, or senior executives held notifiable interests or short positions in the company's or its associated corporations' securities - As of June 30, 2025, none of the company's directors, supervisors, or other senior executives held any notifiable interests or short positions in the securities, related shares, or debentures of the company or its associated corporations that require notification to the company and the Stock Exchange53 Rights to Acquire Shares by Directors and Supervisors No arrangements existed during the review period for directors, supervisors, or their associates to acquire benefits by purchasing company shares - At no time during the review period did the company, its subsidiaries, or holding companies enter into no arrangements enabling the company's directors and supervisors, or their respective spouses or children under 18, to acquire benefits by purchasing the company's shares54 Major Shareholders As of June 30, 2025, three major shareholders each held over 9.50% equity, with another holding 6.33% Major Shareholders' Shareholding (As of June 30) | Shareholder Name | Capacity | Number of Ordinary Shares | Percentage of Share Capital | | :--- | :--- | :--- | :--- | | Tianjin Economic-Technological Development Area State-owned Assets Management Co., Ltd. | Beneficial Owner | 182,500,000 | 9.63% | | Shenzhen Xiangyong Investment Co., Ltd. | Beneficial Owner | 180,000,000 | 9.50% | | Shenzhen Aopai Technology Co., Ltd. | Beneficial Owner | 180,000,000 | 9.50% | | Dongguan Luye Fertilizer Co., Ltd. | Beneficial Owner | 120,000,000 | 6.33% | - All disclosed shares are domestic shares55 Competing Interests No directors, supervisors, management shareholders, or their associates had any competing interests or conflicts of interest with the Group's business during the period - For the six months ended June 30, 2025, none of the company's directors, supervisors, or management shareholders and their respective associates had any existing or potential no competing interests with the Group's business, or any other existing or potential no other conflicts of interest with the Group57 Audit Committee The Audit Committee, chaired by Ms. Gao Chun and comprising three independent non-executive directors, reviews financial reporting, external audit, internal controls, and risk assessment, having reviewed the interim results - The Audit Committee comprises three independent non-executive directors: Mr. Tu Xiangzhen, Mr. Wang Yongkang, and Ms. Gao Chun, with Ms. Gao Chun as Chairperson58 - The Committee's primary responsibilities include reviewing and overseeing the Group's financial reporting process, and assessing the effectiveness of external audit, internal controls, and risk assessment58 - The Audit Committee has reviewed the Group's interim results and interim report for the six months ended June 30, 202558 Share Option Scheme The company did not approve any new share option schemes during the period ended June 30, 2025 - During the period ended June 30, 2025, the company did not approve any new share option schemes59 Contracts of Significance During H1 2025, the company had no contracts of significance regarding the management or administration of its overall or major businesses - During H1 2025, the company had no contracts of significance regarding the management or administration of its overall business or any major business60 Code of Conduct for Securities Transactions by Directors The company adopted a directors' securities transaction code no less stringent than GEM Listing Rules, confirming no non-compliance during the review period - The company has adopted a code of conduct with terms no less stringent than the required dealing standards set out in Rules 5.48 to 5.67 of the GEM Listing Rules61 - The company is unaware of any non-compliance by directors with the required dealing standards and its code of conduct for securities transactions during the review period61 Purchase, Sale or Redemption of Securities In H1 2025, the company completed two share placements, raising HKD 88.8 million for AI medical software and working capital, with no other share transactions - On February 19, 2025, one round of share placement was completed, allotting 135,900,000 shares and raising net proceeds of approximately HKD 50.5 million, for purchasing and developing AI medical health software platforms and working capital62 - On May 8, 2025, a new round of share placement was completed, allotting 103,500,000 shares and raising net proceeds of approximately HKD 38.3 million, for medical health software platform development, working capital, and potential investment opportunities62 - Other than the aforementioned placements, neither the company nor its subsidiaries purchased, sold, or redeemed any shares during the period62 Corporate Governance Code The company complied with all Corporate Governance Code provisions except for the non-separation of Chairman and CEO roles, which the Board deems in the company's best interest for now - The company complied with all provisions of the Code during the review period, except for Code Provision A.2.1 (which states that the roles of chairman and chief executive should be separate)63 - The Board believes that Ms. Sun Li concurrently holding the roles of Chairperson and Chief Executive Officer is currently in the company's best interest, facilitating policy continuity and operational stability63 - The company will comply with Code Provision A.2.1 as soon as practicable to enhance corporate governance transparency and independence63 Interim Dividend (Reiteration) The Board resolved not to declare any interim dividend for the six months ended June 30, 2025 - The Board resolved not to declare any interim dividend for the six months ended June 30, 202564 Board and Contact Information This announcement, published by Chairperson Ms. Sun Li on August 29, 2025, lists directors and provides GEM and company website access information - This announcement was published by Ms. Sun Li, Chairperson of the Board, on August 29, 20256566 - The company's executive director is Sun Li; non-executive directors are He Xin, Li Xueying, and Li Ximing; independent non-executive directors are Tu Xiangzhen, Wang Yongkang, and Gao Chun66