迅捷环球控股(00540) - 2025 - 中期财报

Financial Summary The company experienced a significant decline in revenue and profit for the six months ended June 30, 2025, despite a slight improvement in gross margin and strengthened liquidity Financial Summary for the Six Months Ended June 30, 2025 | Metric | 2025 (HK$ million) | 2024 (HK$ million) | Change | | :--- | :--- | :--- | :--- | | Income Statement: | | | | | Revenue | 157.4 | 281.9 | -44.2% | | Gross Profit | 17.8 | 30.4 | -41.5% | | Gross Profit Margin | 11.3% | 10.8% | +0.5% | | Profit for the period attributable to owners of the Company | 2.6 | 5.3 | -51.0% | | Net Profit Margin attributable to owners of the Company | 1.7% | 1.9% | -0.2% | | Basic and diluted earnings per share (HK$) | 0.0044 | 0.0088 | -50.0% | | Financial Position (period-end): | | | | | Net current assets | 86.2 | 83.0 | +3.9% | | Total Assets | 176.5 | 283.3 | -37.7% | | Borrowings | 5.0 | 21.2 | -76.4% | | Total Liabilities | 87.5 | 197.2 | -55.6% | | Equity attributable to owners of the Company | 88.9 | 86.1 | +3.3% | | Financial Ratios: | | | | | Current Ratio | 2.0 | 1.4 | +42.9% | | Inventory turnover days (days) | 86 | 38 | +126.3% | | Trade receivables turnover days (days) | 76 | 40 | +90.0% | | Trade payables turnover days (days) | 102 | 51 | +100.0% | Company Information This section provides an overview of the company's governance structure, contact details, and listing information Board of Directors and Committees Details the company's executive and independent non-executive directors, along with members and chairpersons of its key committees - Executive Directors include Wong Chi Sum (Chairman) and Wong Lai Fa. Independent Non-executive Directors are Wong Ting Kan, Pang Yuen Shan, Cheung Cheuk Cheung, and Chan Tsang Mo[8] - The Audit Committee is chaired by Wong Ting Kan, the Nomination Committee by Cheung Cheuk Cheung, the Remuneration Committee by Pang Yuen Shan, and the Conflict of Interest Committee by Wong Ting Kan[9] Company Contact and Registration Information Provides details on the company's authorized representatives, auditor, legal counsel, registered office, principal places of business, and principal bankers - Authorized representatives are Mr. Wong Chi Sum and Ms. Wong Lai Fa[11] - The auditor is PricewaterhouseCoopers, and legal counsel is DeHeng Law Offices (Hong Kong) LLP[11] - Principal bankers include Hang Seng Bank, Bank of China (Hong Kong), and HSBC[13] Share and Listing Information Discloses the company's share registrar, listing venue (Hong Kong Stock Exchange), stock code (540), and corporate website - The company is listed on The Stock Exchange of Hong Kong Limited under stock code 540[14] - The company's website is **www.speedy-global.com**[14](index=14&type=chunk) Management Discussion and Analysis This section provides an in-depth review of the company's financial performance, position, liquidity, and future outlook for the reporting period Financial Review Revenue significantly decreased by 44.2% to HK$157.4 million due to reduced customer orders, while gross margin slightly improved to 11.3% through cost control Financial Performance for the Six Months Ended June 30, 2025 | Metric | 2025 (HK$ million) | 2024 (HK$ million) | Change | | :--- | :--- | :--- | :--- | | Revenue | 157.4 | 281.9 | -44.2% | | Gross Profit | 17.8 | 30.4 | -41.5% | | Gross Profit Margin | 11.3% | 10.8% | +0.5% | | Profit for the period attributable to owners of the Company | 2.6 | 5.3 | -51.0% | | Selling and marketing expenses | 0.4 | 0.47 | -14.5% | | Administrative expenses | 13.4 | 23.87 | -43.8% | | Other losses – net | 0.7 | 0.5 | +40.0% | | Finance income | 0.7 | 0.998 | -27.4% | | Finance costs | 0.8 | 1.994 | -59.5% | | Income tax expense | 1.2 | 1.2 | 0.0% | - The decrease in revenue was primarily due to reduced sales orders from certain existing customers[16][20] - The increase in gross profit margin was mainly attributable to effective cost control measures implemented during 2025[17][21] - The reduction in administrative expenses was mainly due to decreased entertainment expenses and donations, along with a reduction in employee headcount and other administrative expenses following the disposal of the Cambodian factory in 2024[19][23] Financial Position Analysis Inventory, trade receivables, and trade payables decreased, reflecting lower sales and purchases, while turnover days for inventory and receivables significantly increased Key Financial Position Metrics as at June 30, 2025 | Metric | June 30, 2025 (HK$ million) | December 31, 2024 (HK$ million) | Change | | :--- | :--- | :--- | :--- | | Inventory | 56.1 | 75.9 | -26.1% | | Inventory turnover days (days) | 86 | 38 | +126.3% | | Trade receivables | 43.1 | 91.8 | -53.1% | | Trade receivables turnover days (days) | 76 | 40 | +90.0% | | Trade payables | 63.2 | 93.6 | -32.5% | | Trade payables turnover days (days) | 102 | 51 | +100.0% | | Bank borrowings | 5.0 | 76.0 | -93.4% | - Inventory turnover days increased to 86 days, primarily due to customers' production and delivery schedules being adjusted from the first half to the second half of 2025[28][33] - The decrease in trade receivables is consistent with the reduction in revenue, while the decrease in trade payables is mainly due to lower procurement volumes[29][34][36][40] - Bank borrowings significantly decreased, with approximately HK$0.6 million repayable within one year and the remainder repayable in installments[37][42] Liquidity and Financial Policies The group maintained a sound liquidity position with sufficient cash and cash equivalents, improving its current ratio from 1.4 to 2.0 Liquidity Position as at June 30, 2025 | Metric | June 30, 2025 (HK$ million) | December 31, 2024 (HK$ million) | | :--- | :--- | :--- | | Cash and cash equivalents | 59.6 | 87.342 | | Current Ratio | 2.0 | 1.4 | - The Group maintained a sound liquidity position, with working capital provided by internal resources and bank borrowings[38][43] - The company adopted a prudent financial management strategy, mitigating credit risk by continuously assessing customer creditworthiness[44][45] - No financial instruments were used to hedge foreign currency risk during the reporting period, with no significant changes in capital structure or material capital commitments[46][47][48][51][52][53] Employee Information As of June 30, 2025, the group had 139 employees with total staff costs significantly reduced due to the 2024 Cambodian factory disposal Employee Information for the Six Months Ended June 30, 2025 | Metric | June 30, 2025 | Same period in 2024 | | :--- | :--- | :--- | | Total employees | 139 persons | Not applicable | | Total staff costs | HK$14.6 million | HK$30.8 million | - The decrease in employee headcount and staff costs was primarily due to the disposal of the Cambodian factory in 2024[54][56] - The company has an employee share option scheme to incentivize or reward contributors to the Group, but no share options were granted, cancelled, or lapsed during the reporting period[55][59][60][65] Investments and Future Plans The group held no significant investments or future capital plans, and will focus on product innovation, operational efficiency, and cost reduction - As at June 30, 2025, the Group held no significant investments in equity interests of other companies and had no material plans for future investments or capital assets[61][62][66][67] - No material acquisitions or disposals of subsidiaries, associates, or joint ventures occurred during the reporting period, nor were there any asset pledges or significant contingent liabilities[69][70][71][75][76][77] - Looking ahead to the second half of 2025, the Group will enhance product innovation and creativity, improve operational efficiency by streamlining production processes, collaborate closely with customers for integrated production and better material prices, and simplify its organizational structure to save costs[74][80][81] Condensed Consolidated Statement of Comprehensive Income This statement presents the group's financial performance, including revenue, expenses, and profit for the six months ended June 30, 2025 Condensed Consolidated Statement of Comprehensive Income (For the Six Months Ended June 30, 2025) | Metric | 2025 (HK$ '000) | 2024 (HK$ '000) | | :--- | :--- | :--- | | Revenue | 157,420 | 281,856 | | Cost of sales | (139,646) | (251,505) | | Gross Profit | 17,774 | 30,351 | | Selling and marketing expenses | (365) | (427) | | Administrative expenses | (13,408) | (23,867) | | Other income | 501 | 1,873 | | Other losses – net | (651) | (475) | | Operating profit | 3,851 | 7,455 | | Finance income | 725 | 998 | | Finance costs | (807) | (1,994) | | Net finance costs | (82) | (996) | | Profit before income tax | 3,769 | 6,459 | | Income tax expense | (1,151) | (1,186) | | Profit for the period attributable to owners of the Company | 2,618 | 5,273 | | Exchange differences | 201 | (184) | | Total comprehensive income for the period attributable to owners of the Company | 2,819 | 5,089 | Condensed Consolidated Statement of Financial Position This statement outlines the group's assets, liabilities, and equity as of June 30, 2025, reflecting its financial health Condensed Consolidated Statement of Financial Position (As at June 30, 2025) | Metric | June 30, 2025 (HK$ '000) | December 31, 2024 (HK$ '000) | | :--- | :--- | :--- | | Assets | | | | Non-current assets | 4,240 | 4,600 | | Current assets | 172,218 | 278,710 | | Total Assets | 176,458 | 283,310 | | Equity | | | | Share capital | 60,000 | 60,000 | | Share premium | 53,441 | 53,441 | | Other reserves | 15,277 | 15,076 | | Accumulated losses | (39,781) | (42,399) | | Total Equity | 88,937 | 86,118 | | Liabilities | | | | Non-current liabilities | 1,477 | 1,462 | | Current liabilities | 86,044 | 195,730 | | Total Liabilities | 87,521 | 197,192 | | Total Equity and Liabilities | 176,458 | 283,310 | Condensed Consolidated Statement of Changes in Equity This statement details the changes in the group's equity components for the six months ended June 30, 2025 Condensed Consolidated Statement of Changes in Equity (For the Six Months Ended June 30, 2025) | Item | Share Capital (HK$ '000) | Share Premium (HK$ '000) | Other Reserves (HK$ '000) | Retained Earnings (HK$ '000) | Total Equity (HK$ '000) | | :--- | :--- | :--- | :--- | :--- | :--- | | January 1, 2024 (audited) | 60,000 | 53,441 | 14,150 | (58,056) | 69,535 | | Profit for the period | – | – | – | 5,273 | 5,273 | | Exchange differences | – | – | (184) | – | (184) | | June 30, 2024 (unaudited) | 60,000 | 53,441 | 13,966 | (52,783) | 74,624 | | January 1, 2025 (audited) | 60,000 | 53,441 | 15,076 | (42,399) | 86,118 | | Profit for the period | – | – | – | 2,618 | 2,618 | | Exchange differences | – | – | 201 | – | 201 | | June 30, 2025 (unaudited) | 60,000 | 53,441 | 15,277 | (39,781) | 88,937 | Condensed Consolidated Statement of Cash Flows This statement presents the cash inflows and outflows from operating, investing, and financing activities for the six months ended June 30, 2025 Condensed Consolidated Statement of Cash Flows (For the Six Months Ended June 30, 2025) | Metric | 2025 (HK$ '000) | 2024 (HK$ '000) | | :--- | :--- | :--- | | Net cash from/(used in) operating activities | 42,303 | (21,098) | | Net cash from investing activities | 725 | 1,284 | | Net cash used in financing activities | (71,024) | (2,792) | | Net decrease in cash and cash equivalents | (27,996) | (22,606) | | Cash and cash equivalents at beginning of period | 87,342 | 127,115 | | Exchange gain/(loss) on cash and cash equivalents | 261 | (212) | | Cash and cash equivalents at end of period | 59,607 | 104,297 | Notes to the Unaudited Condensed Consolidated Interim Financial Statements This section provides explanatory notes and additional details to the unaudited condensed consolidated interim financial statements General Information The company, incorporated in the Cayman Islands, primarily engages in apparel supply chain services, with Sky Halo Holdings Limited as its ultimate holding company - The company was incorporated as an exempted company in the Cayman Islands on September 28, 2011[95][99] - The Group primarily engages in apparel supply chain services, offering woven, cut-and-sewn knit, and sweater knit products[95][100] - The Group's immediate and ultimate holding company is Sky Halo Holdings Limited ("Sky Halo")[95][99] Basis of Preparation The condensed consolidated interim financial statements are prepared in accordance with HKAS 34 and should be read in conjunction with the 2024 annual financial statements - The financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[96][101] - They should be read in conjunction with the annual financial statements for the year ended December 31, 2024[96][101] Accounting Policies Applied accounting policies are consistent with 2024 annual financial statements, with new standards adopted having no significant impact, and future standards not expected to cause material changes - Hong Kong Accounting Standard 21 and Hong Kong Financial Reporting Standard 1 (Amendment) "Lack of Exchangeability" were adopted during the reporting period, but did not result in significant changes to policies or financial performance[98][103] - Several new and amended standards issued but not yet effective, including HKFRS 9 & 7, HKFRS 1, 7, 9, 10 & HKAS 7, HKFRS 18, Hong Kong Interpretation 5, and HKFRS 19, are not expected to have a significant impact on the Group's financial performance[106] Estimates The preparation of interim financial statements involves management judgments, estimates, and assumptions, consistent with those applied in the 2024 annual financial statements - The preparation of financial statements involves management judgments, estimates, and assumptions, where actual results may differ from these estimates[107][109] - The significant judgments and sources of estimation uncertainty are consistent with those applied in the 2024 annual consolidated financial statements[107][110] Financial Risk Management The group's operations are exposed to market, credit, and liquidity risks, with financial risk management information to be read with the 2024 annual financial statements - The Group is exposed to market risks (foreign exchange, interest rate), credit risk, and liquidity risk in its operations[108][111] - The financial risk management information in this interim report should be read in conjunction with the 2024 annual financial statements[108][111] Revenue and Segment Information Revenue is recognized upon product transfer and assured collection, primarily from apparel supply chain services, with management reviewing it as a single operating segment - The Group's revenue primarily derives from apparel supply chain services, recognized upon product delivery and assured collection[112][113] Major Customer Revenue Contribution (For the Six Months Ended June 30, 2025) | Customer | 2025 (HK$ '000) | 2024 (HK$ '000) | | :--- | :--- | :--- | | Customer A | 133,371 | 156,810 | | Customer B | 1,150 | 85,712 | - Management reviews the business as a single operating segment due to consistent service nature, customer types, and service delivery methods across different regions[116][119] Operating Profit Profit before tax is derived after deducting depreciation, amortization, employee benefits, and rental expenses, all of which significantly decreased year-on-year Key Deductions for Operating Profit (For the Six Months Ended June 30, 2025) | Item | 2025 (HK$ '000) | 2024 (HK$ '000) | | :--- | :--- | :--- | | Depreciation and amortization | 304 | 1,655 | | Employee benefit expenses | 14,582 | 30,742 | | Rental expenses | 2,163 | 4,102 | Finance Income and Finance Costs Net finance costs were HK$0.082 million, with finance costs from bank borrowings significantly decreasing and finance income from short-term deposits also declining Finance Income and Finance Costs (For the Six Months Ended June 30, 2025) | Item | 2025 (HK$ '000) | 2024 (HK$ '000) | | :--- | :--- | :--- | | Interest expense on bank borrowings | (807) | (1,986) | | Lease liabilities | – | (8) | | Interest income from short-term bank deposits | 725 | 998 | | Net finance costs | (82) | (996) | Income Tax Expense Total income tax expense was HK$1.151 million, consistent with the prior period, with Hong Kong profits tax unprovided due to tax losses and China CIT at 25% Income Tax Expense (For the Six Months Ended June 30, 2025) | Item | 2025 (HK$ '000) | 2024 (HK$ '000) | | :--- | :--- | :--- | | Hong Kong profits tax | (4) | 610 | | China Corporate Income Tax ("CIT") | (1,147) | (1,796) | | Total income tax expense | (1,151) | (1,186) | - No provision for Hong Kong profits tax was made as relevant group companies incurred tax losses[129][132] - China Corporate Income Tax is provided at a rate of 25%, with withholding tax provided at 5% for dividends from Chinese subsidiaries[127][130][131][132] Basic and Diluted Earnings Per Share Basic and diluted earnings per share for the six months ended June 30, 2025, decreased to HK$0.0044 from HK$0.0088 in the prior period Basic and Diluted Earnings Per Share (For the Six Months Ended June 30, 2025) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit for the period attributable to owners of the Company (HK$ '000) | 2,618 | 5,273 | | Weighted average number of ordinary shares in issue | 600,000,000 | 600,000,000 | | Basic and diluted earnings per share (HK$) | 0.0044 | 0.0088 | - The company had no outstanding potential dilutive ordinary shares during the reporting period, thus diluted earnings per share are identical to basic earnings per share[135][138] Dividends The Board of Directors resolved not to declare an interim dividend for the six months ended June 30, 2025 - The Board of Directors resolved not to declare an interim dividend for the six months ended June 30, 2025[137][139] Trade and Other Receivables Total trade and other receivables significantly decreased to HK$48.693 million as of June 30, 2025, reflecting a substantial reduction from the prior year-end Trade and Other Receivables (As at June 30, 2025) | Item | June 30, 2025 (HK$ '000) | December 31, 2024 (HK$ '000) | | :--- | :--- | :--- | | Trade receivables | 43,077 | 91,794 | | Other receivables | 5,616 | 13,809 | | Less: Impairment allowance – trade receivables | – | (841) | | Total | 48,693 | 104,762 | Ageing Analysis of Trade Receivables (As at June 30, 2025) | Ageing | June 30, 2025 (HK$ '000) | December 31, 2024 (HK$ '000) | | :--- | :--- | :--- | | 0 to 30 days | 17,317 | 46,239 | | 31 to 90 days | 25,417 | 40,625 | | 91 to 180 days | 49 | 4,750 | | Over 180 days | 294 | 180 | - The Group generally grants credit terms of 30 to 90 days to customers in its apparel supply chain services business[35][142] Trade and Other Payables Total trade and other payables decreased to HK$74.33 million as of June 30, 2025, primarily due to reduced procurement volumes Trade and Other Payables (As at June 30, 2025) | Item | June 30, 2025 (HK$ '000) | December 31, 2024 (HK$ '000) | | :--- | :--- | :--- | | Trade payables – amounts due to third parties | 63,178 | 93,582 | | Accrued wages | 8,205 | 11,220 | | Other payables | 1,705 | 3,872 | | Other tax payables | 1,242 | 1,168 | | Total | 74,330 | 109,842 | Ageing Analysis of Trade Payables (As at June 30, 2025) | Ageing | June 30, 2025 (HK$ '000) | December 31, 2024 (HK$ '000) | | :--- | :--- | :--- | | 0 to 30 days | 33,982 | 32,098 | | 31 to 90 days | 25,281 | 55,126 | | 91 to 180 days | 256 | 1,227 | | Over 180 days | 3,659 | 5,131 | - The decrease in trade payables balance was mainly due to reduced purchases from suppliers for the six months ended June 30, 2025[36][40] - Credit terms granted by the Group's major suppliers range from 30 to 90 days[145] Share Capital and Share Premium As of June 30, 2025, the company's issued and fully paid ordinary shares remained at 600 million, with total share capital and share premium unchanged at HK$113.441 million Share Capital and Share Premium (As at June 30, 2025) | Item | Number of Ordinary Shares | Ordinary Shares (HK$ '000) | Share Premium (HK$ '000) | Total (HK$ '000) | | :--- | :--- | :--- | :--- | :--- | | December 31, 2024 | 600,000,000 | 60,000 | 53,441 | 113,441 | | June 30, 2025 | 600,000,000 | 60,000 | 53,441 | 113,441 | - As at June 30, 2025, the total authorized ordinary shares were 1.2 billion with a par value of HK$0.1 per share[148][149] Other Reserves Total other reserves increased slightly to HK$15.277 million as of June 30, 2025, primarily due to exchange differences Movement in Other Reserves (As at June 30, 2025) | Item | Exchange Reserve (HK$ '000) | Statutory Reserve (HK$ '000) | Merger Reserve (HK$ '000) | Capital Reserve (HK$ '000) | Total Reserves (HK$ '000) | | :--- | :--- | :--- | :--- | :--- | :--- | | January 1, 2025 (audited) | (5,783) | 14,030 | 2,957 | 3,872 | 15,076 | | Exchange differences | 201 | – | – | – | – | | June 30, 2025 (unaudited) | (5,582) | 14,030 | 2,957 | 3,872 | 15,277 | Bank Borrowings Total bank borrowings significantly decreased to HK$5.028 million as of June 30, 2025, with repayment schedules across various periods Bank Borrowings Repayment Schedule (As at June 30, 2025) | Repayment Period | June 30, 2025 (HK$ '000) | December 31, 2024 (HK$ '000) | | :--- | :--- | :--- | | Within one year | 626 | 16,446 | | Between one and two years | 646 | 636 | | Between two and five years | 2,058 | 2,027 | | Over five years | 1,698 | 2,054 | | Total | 5,028 | 21,163 | - All bank borrowings are provided by Hong Kong banks, bear interest at floating rates, and are subject to repayment on demand clauses[37][42] Other Information This section covers various disclosures including securities transactions, directors' and major shareholders' interests, corporate governance, and audit committee review Purchase, Sale or Redemption of the Company's Listed Securities Neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities during the reporting period, and no treasury shares were held - During the reporting period, neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities[155][156] - As at June 30, 2025, the company held no treasury shares[155][156] Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures Executive Director Mr. Wong Chi Sum held 54.54% of the company's shares through Sky Halo Holdings Limited, with Ms. Wong Lai Fa holding 0.02% Directors' Interests in the Company's Shares (As at June 30, 2025) | Name of Director | Capacity/Nature of Interest | Number and Class of Securities | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Mr. Wong Chi Sum | Interest in controlled corporation | 327,242,688 ordinary shares (L) | 54.54% | | Ms. Wong Lai Fa | Beneficial owner | 92,000 ordinary shares (L) | 0.02% | - Mr. Wong Chi Sum wholly owns 10,000 ordinary shares of Sky Halo Holdings Limited, representing 100% equity interest[164] - Save as disclosed, no other interests or short positions in shares or debentures of the company were held by directors and chief executives as required by the Securities and Futures Ordinance[166][167] Substantial Shareholders' Interests and/or Short Positions in the Company's Shares and Underlying Shares As of June 30, 2025, Sky Halo Holdings Limited held 54.54% of the company's shares, with other substantial shareholders also disclosed Substantial Shareholders' Interests in the Company's Shares (As at June 30, 2025) | Name of Shareholder | Capacity/Nature of Interest | Number and Class of Securities | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Sky Halo | Beneficial owner | 327,242,688 ordinary shares (L) | 54.54% | | Ms. Cheuk Wai Ying | Family interest | 327,242,688 ordinary shares (L) | 54.54% | | Mr. Chan Hung Kwong | Beneficial owner | 33,031,758 ordinary shares (L) | 5.51% | | Mr. Cheuk Lim Fai | Beneficial owner | 30,204,000 ordinary shares (L) | 5.03% | - Sky Halo Holdings Limited is wholly owned by Mr. Wong Chi Sum[169] - Ms. Cheuk Wai Ying, as the spouse of Mr. Wong Chi Sum, is deemed to be interested in Mr. Wong's interests in the company[169][170] Corporate Governance The company complied with the Corporate Governance Code, though the roles of Chairman and Chief Executive Officer were combined, which the Board believes aids swift decision-making - The company complied with all code provisions of the Corporate Governance Code during the reporting period, but the roles of Chairman and Chief Executive Officer were combined and held by Mr. Wong Chi Sum[172][175] - The Board believes this structure facilitates prompt and effective decision-making and execution, and will continue to consider the feasibility of appointing a separate Chief Executive Officer[172][175] Model Code for Securities Transactions by Directors The company adopted the Model Code for Securities Transactions by Directors of Listed Issuers, with all directors confirming compliance during the reporting period - The company adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all directors confirmed compliance with the code during the reporting period[173][176] Audit Committee The Audit Committee, comprising four independent non-executive directors and chaired by Mr. Wong Ting Kan, reviewed the interim financial statements and found them compliant - The Audit Committee comprises four independent non-executive directors and is chaired by Mr. Wong Ting Kan[177][179] - The Audit Committee reviewed the interim financial statements and deemed them compliant with applicable accounting standards, rules, and regulations, with appropriate disclosures made[177][180] Interim Dividend The Board of Directors resolved not to declare an interim dividend for the six months ended June 30, 2025 - The Board of Directors resolved not to declare an interim dividend for the six months ended June 30, 2025[137][139][178][181] Disclosure of Information The company's interim report has been published on the HKEXnews website and the company's official website - The company's interim report has been published on the HKEXnews website (http://www.hkexnews.hk) and the **company's website (http://www.speedy-global.com)**[182](index=182&type=chunk)