CONTENTS 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Management Discussion and Analysis | 管理層討論及分析 | 6 | | Corporate Governance and Other Information | 企業管治及其他資料 | 17 | | Condensed Consolidated Statement of Profit or | 簡明綜合損益及其他 | 23 | | Loss and Other Comprehensive Income | 全面收入表 | | | Condensed Consolidated Statement of | 簡明綜合財務狀況表 | 24 | | Financial Position | | | | Condensed Consolidated Statement of | 簡明綜合權益變動表 | 26 | | Changes in Equity | | | | Condensed Consolidated Statement of | 簡 ...

股份代號: 0264 (於開曼群島註冊成立之有限公司) Stock Code: 0264 2025 中期報告 2025 Interim Report (Incorporated in the Cayman Islands with limited liability) 2025 目錄 2 公司資料 4 財務摘要 5 中期簡明綜合損益及其他全面收益表 7 中期簡明綜合財務狀況表 9 中期簡明綜合權益變動表 10 中期簡明綜合現金流量表 11 中期簡明綜合財務報表附註 40 管理層討論及分析 中聯發展控股集團有限公司 公司資料 董事 執行董事 趙靖飛先生 （聯席主席） 方時俊先生 （聯席主席） （於二零二五年四月九日獲委任） 范欣先生 （行政總裁） 秦伯翰先生 梁偉傑先生 蔣建智先生 （於二零二五年一月十四日獲委任） 應勇先生 （於二零二五年一月十四日獲委任） Jerome Jean Jacques Loubert先生 （於二零二五年四月九日獲委任） 非執行董事 陳厚謙先生 （於二零二五年四月九日獲委任） 獨立非執行董事 韓煜女士 賈麗欣女士 陳夢思女士 （於二零二五年一月二十一日獲委任） 葉端女士 （於二零二五 ...

Revenue Performance - Revenue from continuing operations decreased from approximately HK$264.7 million for the six months ended June 30, 2024, to approximately HK$188.2 million for the six months ended June 30, 2025, representing a decline of about 29%[5]. - Revenue from the EMS segment decreased by approximately HK$63.4 million, primarily due to reduced business in the European and US markets[6]. - The revenue from the EMS business decreased by 25.6% to HK$184.0 million for the six months ended June 30, 2025, compared to HK$247.4 million in 2024[9]. - The Real Estate Supply Chain Services business revenue decreased by 11.2% to HK$4.3 million for the six months ended June 30, 2025, from HK$4.8 million in 2024[15]. - The Securities and Other Assets Investment segment generated approximately HK$nil in revenue for the six months ended June 30, 2025, down from HK$12.2 million in 2024[16]. - Total revenue for the period ended 30 June 2025 was HK$188.2 million, a decrease of 28.9% compared to HK$264.7 million in 2024[55][61]. - Revenue contributions from major European countries totaled HK$65.7 million, accounting for 34.9% of total turnover for the six months ended June 30, 2025[52]. - The United States market contributed HK$39.9 million in revenue, representing 21.2% of total turnover for the same period[52]. - The People's Republic of China and other countries accounted for HK$26.1 million and HK$56.5 million in revenue, respectively, for the six months ended June 30, 2025[52]. - Revenue from external customers for the six months ended June 30, 2025, was HK$188,226,000, a decrease from HK$264,698,000 in the same period of 2024, representing a decline of approximately 29%[192][194]. Financial Position - As of June 30, 2025, the Group had bank and cash balances totaling approximately HK$331.3 million, an increase from HK$312.1 million as of December 31, 2024[8]. - The Group's current ratio was 2.6 times, with cash and cash equivalents amounting to HK$331.3 million, an increase of HK$19.3 million from the previous period[81][86]. - Total assets as of June 30, 2025, were HK$875,181,000, slightly down from HK$880,137,000 at the end of 2024[181]. - Total current assets remained stable at HK$801,876,000 compared to HK$801,491,000 at the end of 2024[181]. - Non-current assets decreased to HK$73,305,000 from HK$78,646,000, reflecting a decline in property, plant, and equipment[181]. - Total liabilities as of June 30, 2025, amounted to HK$343,001,000, a slight decrease of 0.1% from HK$343,252,000 as of December 31, 2024[182]. - Current liabilities increased to HK$305,614,000 from HK$301,130,000, reflecting a rise of 1.6%[182]. - Total liabilities amounted to 343,001 million, slightly down from 343,252 million year-over-year[199]. - Borrowing increased to 17,300 million from 14,300 million, reflecting a growth of approximately 21%[199]. - Bonds payable rose to 33,827 million, up from 25,041 million, indicating a significant increase of about 35%[199]. - Total equity attributable to owners of the company as of June 30, 2025, was HK$532,180,000, reflecting a decrease from HK$536,531,000 as of December 31, 2024[184]. Profitability and Losses - Gross profit fell 44.4% to HK$41.0 million, with a gross profit margin of 21.8%, down from 27.8% in 2024[57][63]. - The loss attributable to owners of the Company was HK$16.3 million, with a net loss margin of 8.6%[73][79]. - Loss for the period was HK$16,497,000, compared to a loss of HK$4,786,000 in the prior year, indicating a significant increase in losses[180]. - Basic loss per share increased to 7.26 HK cents from 1.96 HK cents in the previous year[179]. - The company reported a total comprehensive loss of HK$10,011,000 for the period, compared to a loss of HK$10,154,000 in the previous year[180]. - The company reported a consolidated loss before tax of HK$15,725,000 for the six months ended June 30, 2025, compared to a loss of HK$1,521,000 in the same period of 2024[194]. Credit and Risk Management - The Group has established strict credit policies and controls to mitigate credit risks, including thorough credit assessments and due diligence during the loan application process[26][28]. - The Group's impairment losses primarily relate to the expected credit loss (ECL) allowance for loans and interest receivables, assessed based on historical credit loss experience and current economic conditions[31][34]. - The management continuously monitors the credit quality of each borrower to minimize exposure to credit risk[50]. - The Group performs public searches on borrowers and guarantors to ensure compliance with anti-money laundering and counter-terrorist financing regulations[36][37]. - Legal actions for loan recovery will be considered on a case-by-case basis to minimize potential credit losses[26][28]. - The Group's expected credit loss (ECL) assessments are based on historical credit loss experience and adjusted for specific debtor factors and economic conditions[47]. - For the six months ended June 30, 2025, the Group recorded an impairment loss on loans and interest receivable of approximately HK$nil, indicating effective credit risk management[47]. Business Strategy and Operations - The Group plans to close down the subsidiary in the Distribution Segment due to the continuing decrease in demand for business telephone system products in North America[11]. - The Group has commenced the energy storage business in 2023, aligning with government policies to achieve carbon neutrality goals[7]. - The Group is closely monitoring global economic challenges, including high interest rates and geopolitical conflicts, to adjust its business development strategy accordingly[108]. - The company continues to focus on its core operations while exploring opportunities for market expansion and new product development[192]. - The energy storage industry in China is expected to experience rapid growth driven by government policies and market demand, particularly in lithium battery energy storage[105][106]. - The Chinese energy storage industry is experiencing rapid growth driven by government policies and market demand, with a focus on lithium battery storage in the short term and multi-technology integration in the medium to long term[109]. - The company plans to invest approximately $5,000,000 in a subsidiary registered in Cambodia within the next 12 months, including the establishment of production facilities[109]. - The company is enhancing its marketing efforts to attract potential customers in the United States, benefiting from tax incentives for exports[109]. Share Options and Equity - As of June 30, 2025, there were 2,621,296 share options valid and outstanding under the 2020 Share Option Scheme[138]. - On November 3, 2023, 15,695,082 share options were granted to employees and directors under the 2023 Share Option Scheme[140]. - The total number of shares available for issue under the Share Option Scheme was 18,171,478, representing approximately 8.1% of the issued shares as of the report date[142]. - The 2023 Share Option Scheme and 2023 Share Award Plan were adopted at the 2023 AGM, terminating the 2020 Share Option Scheme[139]. - The maximum entitlement for each participant under the 2023 Share Award Plan is capped at 1% of the issued share capital of the Company within any 12-month period[153]. - The share options granted are intended to recognize past contributions and encourage future performance, with specific terms under which they may lapse[159]. - The share option scheme aims to align the interests of grantees with those of the Company and its shareholders[151]. - The Company did not grant any share options to directors or senior managers during the six months ended June 30, 2025, as per the Listing Rules[164].

Financial Performance - For the six months ended June 30, 2025, the company reported revenue of RMB 1,011.9 million, an increase of 1.7% compared to RMB 995.2 million for the same period in 2024[8]. - Gross profit for the same period was RMB 259.2 million, reflecting an 8.1% year-on-year growth from RMB 239.7 million[8]. - Net profit for the first half of 2025 was RMB 94.7 million, up 2.0% from RMB 92.8 million in the prior year[8]. - The gross margin improved to 25.6%, an increase of 1.5 percentage points compared to 24.1% in the previous year[8]. - The company achieved revenue of approximately RMB 1,011.9 million for the first half of 2025, representing a year-on-year increase of about 1.7%[50]. - Gross profit for the same period was approximately RMB 259.2 million, reflecting an increase of about 8.1% compared to the previous year[50]. - Net profit for the first half of 2025 was RMB 94.7 million, a growth of approximately 2.0% year-on-year[50]. - Community service revenue grew by approximately 0.6% from about RMB 720.7 million to approximately RMB 725.2 million, driven by business expansion and increased property management projects[69]. - Business service revenue surged by approximately 31.6%, rising from about RMB 23.4 million to approximately RMB 30.7 million, due to active business development and new project additions[69]. - Urban service revenue increased by approximately 31.4%, from about RMB 85.3 million to approximately RMB 112.1 million, attributed to the company's proactive regional and project expansion[69]. - Revenue from surrounding services decreased by approximately 13.3%, from about RMB 165.8 million to approximately RMB 143.7 million, due to optimization of the new retail business and a shift in focus towards online and timely retail[69]. Assets and Liabilities - Total assets as of June 30, 2025, were RMB 4,356.0 million, a 4.4% increase from RMB 4,174.1 million at the end of 2024[8]. - Total liabilities increased by 4.5% to RMB 2,054.8 million from RMB 1,966.2 million[8]. - As of June 30, 2025, the company's accounts payable and other payables amounted to approximately RMB 1,428.6 million, a decrease of about 1.7% from RMB 1,453.9 million as of December 31, 2024[94]. - The company's accounts payable was approximately RMB 736.8 million, an increase of about 0.4% from RMB 733.8 million as of December 31, 2024[94]. - As of June 30, 2025, the company's net current assets were approximately RMB 1,919.6 million, up from RMB 1,835.3 million as of December 31, 2024, representing an increase of about 4.6%[97]. - The total current liabilities increased by approximately 4.9% to RMB 2,036.9 million as of June 30, 2025, from RMB 1,941.9 million as of December 31, 2024[97]. - The company's cash and cash equivalents, excluding restricted bank deposits, decreased by approximately 10.7% to RMB 494.5 million as of June 30, 2025, from RMB 553.7 million as of December 31, 2024[98]. Business Strategy and Development - The company plans to enhance service quality through refined operations and intensive management, aiming to meet diverse customer needs and improve customer loyalty[35]. - The company aims to expand its business scale and market share by leveraging its leading position in the Bohai Economic Rim and enhancing service quality to drive customer satisfaction[37]. - The company is focusing on diversifying its service offerings, including urban operations, hospitals, schools, and commercial properties, to mitigate the impact of the real estate downturn[38]. - The company emphasizes collaboration with independent third-party property developers to penetrate national target markets and manage properties exceeding 1 million square meters[39]. - The company plans to implement a "Spring Renewal Action" in 2025 to enhance service quality and brand recognition through community engagement initiatives[36]. - The company is actively developing surrounding services such as home services, retail, and education to create new profit growth points[35]. - The company aims to enhance its brand value through various initiatives, including community cultural activities and participation in industry standards[36]. - The company is expanding its operational scale and scope by diversifying into non-community property services, thereby increasing its competitiveness and risk resilience[38]. - The company plans to expand its service offerings in urban services, hospitals, schools, and municipal public construction, focusing on collaboration with independent third-party property developers[40]. - The company aims to enhance its understanding of customer needs through big data analysis, leading to improved service quality and a richer service portfolio[41]. - A one-stop omnichannel service platform will be developed, allowing users to easily access various services, including real estate brokerage and retail services[42]. - The company intends to diversify its services to include full lifecycle housing services, targeting both new and existing homeowners with tailored offerings[43]. Awards and Recognition - The company received multiple awards in 2025, including recognition as one of the top 30 property service brands in North China[9][11][13][15]. Market Conditions - The Chinese government has introduced policies to stabilize the real estate market, which is expected to gradually restore market demand over the next decade[32]. - The property service industry is evolving into a comprehensive service provider, expanding beyond traditional services to include various sectors such as real estate brokerage and community finance[33]. - The property management industry is experiencing a slowdown in growth due to the downturn in the upstream real estate sector, with both managed area and contracted area growth rates decreasing[35]. Human Resources and Corporate Governance - The company plans to enhance its human resource management functions and attract high-quality talent with modern information technology skills[50]. - The company adheres to high standards of corporate governance to protect shareholder interests and enhance corporate value[120]. - All applicable code provisions under the corporate governance code were complied with during the period[121]. - The audit committee consists of one non-executive director and two independent non-executive directors, ensuring compliance with financial reporting standards[132]. Shareholder Information - As of June 30, 2025, the company has issued a total of 376,000,000 shares, comprising 94,000,000 H shares and 282,000,000 domestic shares[126]. - Liu Hongxia holds 23,733,000 shares, representing approximately 8.42% of the company's total share capital[124]. - Major shareholder Geng Jianfu controls 235,527,000 domestic shares, accounting for 83.52% of the total share capital[129]. - The company did not recommend the payment of an interim dividend for the period, consistent with the previous year's decision[133]. - The total number of shares held by major shareholders indicates a significant concentration of ownership, with Geng Jianfu and related entities holding over 83%[129].

香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位是為投資風險可能較主板其他上市公司為高的中小型公司而設的市場。 有意投資者應瞭解投資於該等公司的潛在風險，並須經過審慎周詳的考慮後方作出 投資決定。 由於GEM上市公司通常為中小型公司，在GEM買賣的證券可能會較在主板買賣的 證券承受較高市場波動風險，而且無法保證在GEM買賣的證券將會有具流通量的市 場。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提 供有關春能控股有限公司（「本公司」）的資料；本公司之各董事（「董事」）願就本報告 的資料共同及個別地承擔全部責任，並在作出一切合理查詢後，確認就其所知及所 信，(1)本報告所載資料在各重要方面均屬準確完備，沒有誤導及欺詐成分；及(2)概 無遺漏任何事項，足以令致本報告所載任何陳述或本報告產生誤導。 本公司董事會（「董事會」）欣然提呈本公司及其附屬公司（統稱「本集團」）截至2025 年6月30日止六個月的未經審核簡明綜合業績，連同於2024年同期的未經審核比較 數字如下： 本報告原文乃以英文編製，其後翻譯成中文。中英文版本如有任何歧義，概以英文 版為準。 目錄 | 摘要 ...

北京市春立正達醫療器械股份有限公司 Beijing Chunlizhengda Medical Instruments Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） 股份代號：1858 中期報告 INTERIM REPORT 僅供識別 北京市春立正達醫療器械股份有限公司 Beijing Chunlizhengda Medical Instruments Co., Ltd.* (a joint stock limited company incorporated in the People's Republic of China with limited liability) Stock code : 1858 For identication purpose only Beijing Chunlizhengda Medical Instruments Co., Ltd. 北京市春立正達醫療器械股份有限公司 * 2025 INTERIM REPORT 中期報告 | 目 錄 | | | --- | --- | | 公司資料 | 2 | | 管理層討論及分析 | 3 | | 企業管治及其他資料 ...

持續創新，卓越運營；以優質生物藥，造福全球病患 願景 專注提供質高價優的生物藥， 成為全球最受信賴的創新生物製藥公司 2025 中期報告 INTERIM REPORT 2025 中期報告 使命 獨立非執行董事 目錄 蘇德揚8 陳力元 宋瑞霖 Yihao Zhang9 趙國屏10 | 公司資料 | 2 | | --- | --- | | 運營摘要 | 4 | | 管理層討論與分析 | 11 | | 獨立審閱報告 | 37 | | 中期簡明綜合損益表 | 38 | | 中期簡明綜合全面收益表 | 39 | | 中期簡明綜合財務狀況表 | 40 | | 中期簡明綜合權益變動表 | 41 | | 中期簡明綜合現金流量表 | 42 | | 中期簡明綜合財務資料附註 | 44 | | 一般資料 | 61 | | 釋義 | 72 | 公司資料 董事 主席及非執行董事 Wenjie Zhang1 執行董事 朱俊 （首席執行官） 2 Wenjie Zhang1 非執行董事 陳啟宇 陳玉卿3 關曉暉4 劉毅5 Xingli Wang 吳以芳6 文德鏞7 監事 審計委員會 馮蓉麗 （主席） 孔德力 劉志勇11 袁曄星12 Wenj ...

Financial Performance - For the six months ended June 30, 2025, the commercial operation services generated total revenue of approximately RMB 1,048.6 million, a decrease of about 2.6% compared to RMB 1,076.9 million for the same period in 2024 [18]. - The gross profit for commercial operation services was RMB 361.6 million with a gross margin of 34.5%, compared to RMB 384.7 million and a gross margin of 35.7% in the previous year [17]. - The total gross profit for the group was RMB 405.3 million with a gross margin of 31.2%, compared to RMB 449.4 million and a gross margin of 33.7% in the previous year [17]. - For the six months ended June 30, 2025, the company's revenue was approximately RMB 1,300.9 million, a decrease of about RMB 32.0 million compared to RMB 1,332.9 million for the same period in 2024 [31]. - Revenue from commercial operation and management services was approximately RMB 915.9 million, accounting for 70.4% of total revenue, representing a year-on-year decrease of about 1.6% [34]. - The revenue from residential property management services was approximately RMB 252.3 million, a decrease of about 1.5%, accounting for 19.4% of total revenue [38]. - The total comprehensive income for the six months ended June 30, 2025, was RMB 176,064 thousand, compared to RMB 200,002 thousand for the same period in 2024, reflecting a decrease of 11.9% [114]. - The profit attributable to shareholders for the six months ended June 30, 2025, was approximately RMB 182.8 million, a decrease of about 6.0% from RMB 194.5 million in 2024 [51]. Operational Highlights - As of June 30, 2025, the group operates 97 retail commercial properties with a total built area of approximately 11.1 million square meters, and has signed contracts for 129 retail commercial properties with a total contracted area of about 14.2 million square meters [6]. - The average occupancy rate for retail commercial properties as of June 30, 2025, was 91.8%, up from 91.5% at the end of 2024 [25]. - The company plans to open new retail commercial properties in the second half of 2025, with a total projected building area of 523,952 square meters [26]. - The company opened a new retail commercial property, Wuyishan Baolong Plaza, with a total building area of 67,633 square meters on May 2025 [21]. - The company added one new delivered project, bringing the total delivered projects to 128, compared to 127 in 2024 [27]. Market and Strategic Focus - The group continues to focus on the Yangtze River Delta region, targeting cities with high economic vitality to enhance urban living experiences [6]. - The group aims to become a respected century-old enterprise and a global leader in urban space operations, adhering to its mission of "Letting Space Have Love" and corporate values of simplicity, authenticity, and win-win cooperation [7]. - The company aims to enhance operational capabilities, recruitment capabilities, and product capabilities to improve asset value and market influence [30]. - The company plans to focus on talent development through a "1 + 5" capability model to strengthen its leadership team and ensure sustainable growth [30]. Financial Position and Assets - As of June 30, 2025, the total assets amounted to RMB 6,021,041, with segment assets of RMB 1,744,158 [134]. - Total liabilities decreased to RMB 2,626,425,000 as of June 30, 2025, down from RMB 2,815,702,000 at the end of 2024, reflecting a reduction of approximately 6.7% [136]. - The cash and bank balances increased to approximately RMB 4,285.2 million, a growth of about 3.7% from RMB 4,131.6 million as of December 31, 2024, due to enhanced collection efforts [59]. - The total equity attributable to owners of the company was RMB 3,402,407 thousand, an increase from RMB 3,259,464 thousand as of June 30, 2024, representing a growth of 4.4% [114]. Employee and Labor Relations - The company maintained a stable workforce with 5,566 employees as of June 30, 2025, unchanged from December 31, 2024 [61]. - The total employee cost for the six months was approximately RMB 408.2 million, a decrease of 4.9% from RMB 427.5 million for the same period in 2024 [61]. - The company emphasizes the importance of attracting and retaining high-quality employees for its success [61]. - The company offers various employee benefits, including cash performance bonuses and social insurance programs [61]. Governance and Compliance - The company has adopted the corporate governance code as a basis for its governance practices and has complied with all applicable code provisions during the reporting period, except for deviations noted in specific provisions [83]. - The roles of Chairman and CEO were separated after Mr. Xu was appointed CEO on January 21, 2025, restoring compliance with the corporate governance code [85]. - The company has established an audit committee to oversee financial reporting and internal control systems, ensuring compliance with regulatory requirements [100]. Shareholder Information - The company’s major shareholder, Mr. Xu Jiankang, holds 405 million shares, representing 63.00% of the total shares [68]. - The total issued share capital of the company as of June 30, 2025, was 642.9 million shares [65][70]. - The company did not recommend the distribution of an interim dividend for the six months ended June 30, 2025, compared to no dividend for the same period in 2024 [69].

Financial Performance - For the first half of 2025, MedSci Healthcare Holdings Limited achieved total revenue of RMB 125.2 million, representing a year-on-year growth of 13.2%[12] - Gross profit for the same period was RMB 77.5 million, with a year-on-year increase of 14.1%[12] - Net profit surged to RMB 13.2 million, reflecting a remarkable year-on-year growth of 5,238.3%[12] - The company's revenue for the six months ended June 30, 2025, was approximately RMB 125.2 million, representing a 13.2% increase from RMB 110.7 million for the same period in 2024[27] - Gross profit for the same period was RMB 77.5 million, up 14.1% from RMB 67.9 million year-over-year[27] - The net profit attributable to shareholders was RMB 13.2 million, a significant increase of 5,238.3% compared to RMB 248,000 in the previous year[27] - The precision omnichannel marketing solutions generated revenue of RMB 56.1 million, a 34.1% increase from RMB 41.9 million in the prior year[30] - Revenue from real-world clinical research (RWS) solutions rose by 22.7% to RMB 16.6 million, up from RMB 13.6 million year-over-year[32] - For the six months ended June 30, 2025, the company reported a pre-tax profit of RMB 14,521,000 compared to a loss of RMB 240,000 in the same period of 2024, indicating a significant turnaround in performance[126] Membership and Client Base - The company registered over 5.6 million cumulative members and 3.33 million certified doctors by June 30, 2025[11] - The number of active clients reached 613, including 525 core pharmaceutical, biotechnology, and medical device companies, with a 100% revenue retention rate from the top 10 clients[18] - As of June 30, 2025, the online professional physician platform has approximately 3.3 million registered physician users, with an average of about 3.0 million active users during the reporting period[14] AI and Technology Development - MedSci launched three AI products: iMED_AI, NovaX, and ElavaX, aimed at enhancing medical decision-making and operational efficiency[10] - AI-related business revenue reached RMB 5.6 million, contributing significantly to the company's growth trajectory[12] - The company is building a comprehensive AI empowerment system covering the entire pharmaceutical industry, aiming to release new growth momentum[12] - The company is focusing on AI-driven physician platform solutions to enhance information integration and push capabilities, reducing the reliance on manual services and improving efficiency[15] - The introduction of AI technologies is expected to drive significant growth in revenue from AI services, with the company already achieving some scale in AI service income[25] International Strategy and Market Expansion - The company is advancing its international strategy, focusing on expanding overseas markets and global service networks[12] - The company is transitioning to a "multi-agent collaboration" model to enhance business adaptability and innovation, with a focus on international market expansion, particularly in Southeast Asia[24] - The company plans to strengthen its international service model and technical capabilities to enhance supply chain resilience and establish a global pharmaceutical ecosystem[24] Operational Efficiency and Cost Management - Sales cost increased by approximately 11.8% from RMB 42.8 million for the six months ended June 30, 2024, to RMB 47.8 million for the same period in 2025[35] - Selling and distribution expenses decreased by approximately 10.8% from RMB 37.9 million for the six months ended June 30, 2024, to RMB 33.8 million for the same period in 2025[38] - Administrative expenses decreased by approximately 36.9% from RMB 35.8 million for the six months ended June 30, 2024, to RMB 22.6 million for the same period in 2025[39] - R&D expenses increased by approximately 63.8% from RMB 12.0 million for the six months ended June 30, 2024, to RMB 19.7 million for the same period in 2025, driven by increased investment in AI[40] Shareholder Information and Corporate Governance - As of June 30, 2025, Dr. Li holds a beneficial interest in 177,929,750 shares, representing 29.30% of the company, while Dr. Zhang holds 140,972,700 shares, representing 23.22%[74] - Major shareholders include Microhealth Limited with 29.30% and Dtx Health Limited with 23.22% of the company's shares as of June 30, 2025[78] - The company remains committed to maintaining high corporate governance standards and has complied with all applicable codes as of June 30, 2025[60] - The company adopted an equity incentive plan on April 20, 2022, aimed at attracting and retaining talent to drive long-term development[83] Dividend and Share Incentive Plans - The board has decided to distribute an interim dividend of HKD 0.011 per share for the six months ending June 30, 2025, compared to no dividend in the same period of 2024[116] - The total number of shares that can be granted under the share incentive plan is capped at 10% of the company's issued share capital as of the adoption date, which amounts to 60,717,095 shares[107] - The equity incentive plan allows participants to realize economic benefits through the sale of reward shares, capped at 20% of the relevant shares per year[89] Financial Position and Cash Flow - Cash and cash equivalents amounted to approximately RMB 315.6 million as of June 30, 2025, down from RMB 366.9 million as of December 31, 2024[49] - The company had no bank borrowings or other interest-bearing debts as of June 30, 2025, except for lease liabilities totaling approximately RMB 8.3 million[50] - The fair value financial assets of the group increased from approximately RMB 552.9 million as of December 31, 2024, to approximately RMB 670.8 million as of June 30, 2025, primarily due to an increase in invested financial products[51] - The company recorded a total comprehensive income of RMB 7,520,000 for the six months ended June 30, 2025, compared to RMB 6,045,000 in 2024[122] - Cash flow from operating activities for the six months ended June 30, 2025, was RMB 20,719,000, a substantial increase from RMB 5,988,000 in the prior year, reflecting improved operational efficiency[126] Risks and Liabilities - The company faces foreign exchange risks primarily from fluctuations between the Renminbi and other currencies, particularly the Hong Kong Dollar and US Dollar, which could impact financial performance[73] - The company has not entered into any currency hedging transactions for the six months ending June 30, 2025[73] - There were no significant contingent liabilities or pledged assets as of June 30, 2025[54][55]

Financial Performance - For the six months ended June 30, 2025, the group's unaudited revenue was approximately SGD 1,490,000, an increase of about SGD 108,000 or 7.8% compared to SGD 1,382,000 for the same period in 2024[7] - The group recorded an unaudited loss of approximately SGD 1,946,000 for the six months ended June 30, 2025, compared to an unaudited loss of SGD 1,552,000 for the same period in 2024[7] - Basic and diluted loss per share for the six months ended June 30, 2025, was 0.43 Singapore cents, compared to 0.34 Singapore cents for the same period in 2024[7] - Total revenue for the six months ended June 30, 2025, was SGD 1,489,655, compared to SGD 1,382,320 for the same period in 2024, representing an increase of approximately 7.8%[31] - The company reported a loss attributable to equity holders of SGD 1,945,532 for the six months ended June 30, 2025, compared to a loss of SGD 1,552,140 for the same period in 2024, resulting in a basic and diluted loss per share of 0.43 Singapore cents, up from 0.34 Singapore cents[40] - The company recorded a loss of approximately SGD 1,946,000 for the period, compared to a loss of approximately SGD 1,552,000 for the same period in 2024[63] Profitability and Expenses - Gross profit for the six months ended June 30, 2025, was SGD 688,563, an increase from SGD 409,298 for the same period in 2024[10] - The group incurred selling and distribution expenses of SGD 393,552 for the six months ended June 30, 2025, compared to SGD 262,744 for the same period in 2024[10] - The group’s administrative expenses increased to SGD 2,129,075 for the six months ended June 30, 2025, from SGD 1,887,744 for the same period in 2024[10] - Selling and distribution expenses increased by approximately SGD 131,000 to about SGD 394,000, mainly due to higher employee compensation and related expenses[61] - Administrative expenses rose by approximately SGD 241,000 to about SGD 2,129,000, primarily due to increased travel costs[62] Assets and Liabilities - Total assets less current liabilities as of June 30, 2025, amounted to SGD 8,752,838, down from SGD 10,618,572 as of December 31, 2024[11] - The group's total equity as of June 30, 2025, was SGD 8,673,041, a decrease from SGD 10,618,572 as of December 31, 2024[11] - The total assets as of June 30, 2025, amounted to SGD 9,007,960, down from SGD 11,210,366 as of December 31, 2024, reflecting a decrease of approximately 19.7%[32] - The total liabilities as of June 30, 2025, were SGD 334,919, compared to SGD 591,794 as of December 31, 2024, showing a reduction of approximately 43.5%[32] - Trade receivables decreased to SGD 494,634 as of June 30, 2025, from SGD 584,409 as of December 31, 2024, indicating a decline of approximately 15.3%[48] - The carrying amount of property, plant, and equipment decreased to SGD 757,108 as of June 30, 2025, from SGD 789,775 as of December 31, 2024, representing a decline of about 4.1%[41] - The group reported a decrease in inventory to SGD 199,201 as of June 30, 2025, compared to SGD 227,211 as of December 31, 2024[11] Cash Flow and Financing - The group's cash and cash equivalents decreased to SGD 2,387,123 as of June 30, 2025, from SGD 4,928,607 as of December 31, 2024[11] - Cash and cash equivalents decreased by SGD 2,541,484, down from SGD 6,188,414 at the end of June 2024, reflecting a decline of approximately 41.0%[14] - Operating cash outflow before changes in working capital was SGD 2,490,760, an increase from SGD 2,136,464 in the previous year, indicating a rise of about 16.6%[14] - The total cash outflow for leases was SGD 21,881 for the six months ended June 30, 2025, down from SGD 42,771 for the year ended December 31, 2024, reflecting a reduction of approximately 48.9%[42] - The financing activities resulted in a net cash outflow of SGD 21,879, which is slightly higher than SGD 20,514 in the previous year, showing an increase of about 6.7%[14] Employee and Operational Metrics - Employee benefits costs for the six months ended June 30, 2025, were SGD 1,875,266, slightly up from SGD 1,828,656 in 2024, indicating an increase of about 2.5%[36] - Total employee costs for the period amounted to approximately SGD 1,875,000, an increase from SGD 1,829,000 in the corresponding period[69] - As of June 30, 2025, the group had a total of 46 employees, up from 45 on December 31, 2024[68] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial results and confirmed compliance with applicable accounting standards and regulations[96] - The company has complied with the corporate governance code as per the listing rules during the six months ending June 30, 2025[92] - The board believes that the current governance structure allows for effective decision-making and oversight, with a majority of independent non-executive directors[92] Shareholder Information - Mr. Lu Yongde holds a beneficial interest in 230,000,000 shares, representing 51.11% of the total issued share capital of Billion Legend Company Limited[86] - The company has not granted any options under the share option scheme since its adoption on June 23, 2017, which is valid for ten years[87] - The board does not recommend the payment of an interim dividend for the current period[95] - The company has not disclosed any significant shareholder interests or conflicts of interest beyond what is stated in the report[86]