[Report Overview](index=1&type=section&id=Report%20Overview) This section provides an overview of the company's information, disclaimers, and definitions used in the report [Company Information and Disclaimer](index=1&type=section&id=Company%20Information%20and%20Disclaimer) Yancheng Port International Co., Limited, listed on GEM, presents its interim results, emphasizing GEM's high investment risk and the board's responsibility for accuracy - Yancheng Port International Co., Limited (Stock Code: 8310) is incorporated in the Cayman Islands and listed on GEM of HKEX[1](index=1&type=chunk) - The GEM market is positioned for small and medium-sized companies with higher investment risks, and investors should understand potential risks[1](index=1&type=chunk) - The company's directors jointly and individually assume full responsibility for this announcement, confirming accuracy, completeness, and absence of misleading or fraudulent content[2](index=2&type=chunk) [Definitions](index=2&type=section&id=Definitions) This chapter defines key terms used in the report, including company entities, committees, geographical areas, and currency units for clarity - Key entities defined in the report include "the Company" (Yancheng Port International Co., Limited) and "the Group" (the Company and its subsidiaries)[3](index=3&type=chunk) - "The Period" specifically refers to January 1, 2025, to June 30, 2025[4](index=4&type=chunk) - "China/Mainland China" excludes Hong Kong, Macau Special Administrative Regions, and Taiwan[4](index=4&type=chunk) [Financial Highlights](index=4&type=section&id=Financial%20Highlights) This section summarizes the Group's key financial performance indicators for the six months ended June 30, 2025 [Key Financial Performance Indicators](index=4&type=section&id=Key%20Financial%20Performance%20Indicators) For the six months ended June 30, 2025, the Group's total revenue decreased by **25.47% to approximately HK$515 million**, with loss before tax increasing by **48.00% to approximately HK$26.8 million** 2025 H1 Key Financial Data Comparison | Indicator | 2025 H1 (HKD) | 2024 H1 (HKD) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 514,700,000 | 690,500,000 | -25.47% | | Loss Before Tax | (26,800,000) | (18,100,000) | +48.00% | | Loss Attributable to Owners of the Company | (26,900,000) | (17,800,000) | +51.71% | | Loss Per Share | (0.0209) HK cents | (0.0138) HK cents | +51.45% | [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the Group's condensed consolidated financial statements, including comprehensive income, financial position, equity changes, and cash flows [Condensed Consolidated Statement of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's revenue was **HK$514.65 million**, a **25.47% decrease**, with loss for the period expanding to **HK$26.88 million** Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Indicator (HKD '000) | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | 514,654 | 690,507 | | Cost of Revenue | (513,268) | (689,223) | | Gross Profit | 1,386 | 1,284 | | Other (Losses)/Income | (4,354) | 1,802 | | Administrative Expenses | (13,742) | (9,929) | | Finance Costs | (10,070) | (11,251) | | Loss Before Tax | (26,780) | (18,094) | | Tax | (97) | – | | Loss for the Period | (26,877) | (18,094) | | Exchange Differences on Translation of Overseas Operations | 1,357 | (4,484) | | Total Comprehensive Loss for the Period | (25,520) | (22,578) | | Loss Attributable to Owners of the Company | (26,941) | (17,758) | | Loss Attributable to Non-controlling Interests | 64 | (336) | | Basic and Diluted Loss Per Share (HK cents) | (2.09) | (1.38) | [Condensed Consolidated Statement of Financial Position](index=7&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets less current liabilities worsened to **negative HK$230.79 million**, with total deficit attributable to owners increasing to **HK$537.05 million** Condensed Consolidated Statement of Financial Position (HKD '000) | Indicator | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | **Non-current Assets** | | | | Property, Plant and Equipment | 102,223 | 102,310 | | Right-of-use Assets | 35,527 | 34,719 | | **Current Assets** | | | | Trade and Other Receivables | 510,337 | 169,518 | | Bank Balances and Cash | 5,666 | 4,968 | | **Current Liabilities** | | | | Trade and Other Payables | 763,815 | 365,829 | | Current Portion of Bank and Other Borrowings | 124,418 | 151,946 | | **Net Current Liabilities** | (374,698) | (344,755) | | **Total Assets Less Current Liabilities** | (230,792) | (201,733) | | **Non-current Liabilities** | | | | Non-current Portion of Bank and Other Borrowings | 287,450 | 291,029 | | **Net Liabilities** | (519,669) | (494,149) | | **Total Deficit Attributable to Owners of the Company** | (537,053) | (510,711) | [Condensed Consolidated Statement of Changes in Equity](index=9&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, the total deficit attributable to owners increased from **HK$510.71 million** to **HK$537.05 million**, primarily due to the loss for the period Condensed Consolidated Statement of Changes in Equity (HKD '000) | Indicator | January 1, 2025 (Audited) | Loss for the Period | Exchange Differences on Translation of Overseas Operations | June 30, 2025 (Unaudited) | | :--- | :--- | :--- | :--- | :--- | | Total Deficit Attributable to Owners of the Company | (510,711) | (26,941) | 599 | (537,053) | | Non-controlling Interests | 16,562 | 64 | 758 | 17,384 | | Total Deficit | (494,149) | (26,877) | 1,357 | (519,669) | Condensed Consolidated Statement of Changes in Equity (HKD '000) | Indicator | January 1, 2024 (Audited) | Loss for the Period | Exchange Differences on Translation of Overseas Operations | June 30, 2024 (Unaudited) | | :--- | :--- | :--- | :--- | :--- | | Total Deficit Attributable to Owners of the Company | (465,583) | (17,758) | (3,824) | (487,165) | | Non-controlling Interests | 18,600 | (336) | (660) | 17,604 | | Total Deficit | (446,983) | (18,094) | (4,484) | (469,561) | [Condensed Consolidated Statement of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities was **HK$75.54 million**, while net cash from financing activities turned positive, leading to an increase in cash and cash equivalents Condensed Consolidated Statement of Cash Flows (For the six months ended June 30, HKD '000) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (75,537) | (40,409) | | Net Cash Used in Investing Activities | (610) | (1,990) | | Net Cash From/(Used in) Financing Activities | 76,730 | (91,681) | | Net Increase/(Decrease) in Cash and Cash Equivalents | 583 | (134,080) | | Cash and Cash Equivalents at End of Period | 5,666 | 21,838 | - Net cash from financing activities turned from an outflow of **HK$91.681 million** in the same period of 2024 to an inflow of **HK$76.73 million** in 2025, primarily due to new advances from related companies[15](index=15&type=chunk) [Notes to the Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes to the condensed consolidated financial statements, covering company information, accounting policies, and specific financial items [Company Information and Basis of Preparation](index=11&type=section&id=Company%20Information%20and%20Basis%20of%20Preparation) The Company was incorporated in the Cayman Islands on September 13, 2011, and its interim financial statements are prepared in accordance with HKAS 34 and GEM Listing Rules - The Company was incorporated in the Cayman Islands as an exempted limited liability company on September 13, 2011[16](index=16&type=chunk) - The interim financial statements are prepared in accordance with Hong Kong Accounting Standard 34 and the GEM Listing Rules[17](index=17&type=chunk) - The adoption of new/revised Hong Kong Financial Reporting Standards had no significant impact on the Group's results and financial position for the current and prior accounting periods[18](index=18&type=chunk) [Segment Information](index=12&type=section&id=Segment%20Information) The Group primarily operates in trading (petrochemical and soybean products, supply chain management) and petrochemical product storage segments, with H1 2025 trading revenue at **HK$506 million** and storage revenue at **HK$8.5 million** - The Group's main operating segments are trading business (trading of petrochemical and soybean products, provision of supply chain management services) and petrochemical product storage business[20](index=20&type=chunk) Segment Revenue and Results (For the six months ended June 30, HKD '000) | Indicator | Trading Business (2025) | Storage Business (2025) | Trading Business (2024) | Storage Business (2024) | | :--- | :--- | :--- | :--- | :--- | | Revenue (from external customers) | 506,156 | 8,498 | 681,724 | 8,783 | | Segment Results | 709 | (6,904) | (1,435) | (6,554) | - All the Group's revenue from external customers is attributable to China[26](index=26&type=chunk) [Revenue and Other Income/Losses](index=16&type=section&id=Revenue%20and%20Other%20Income%2FLosses) The Group's revenue primarily comes from trading and petrochemical product storage, with other income/losses showing a net exchange loss of **HK$4.36 million** for H1 2025 Revenue Composition (For the six months ended June 30, HKD '000) | Revenue Source | 2025 | 2024 | | :--- | :--- | :--- | | Revenue from Trading Business | 506,156 | 681,724 | | Revenue from Providing Petrochemical Product Storage Services | 8,498 | 8,783 | | **Total Revenue** | **514,654** | **690,507** | Other (Losses)/Income (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Bank Interest Income | 4 | 46 | | Exchange (Losses)/Gains | (4,362) | 1,753 | | Miscellaneous Income | 4 | 3 | | **Total** | **(4,354)** | **1,802** | [Finance Costs and Key Expenses](index=17&type=section&id=Finance%20Costs%20and%20Key%20Expenses) For H1 2025, finance costs totaled **HK$10.07 million**, mainly from listed credit enhanced guaranteed bonds, with key expenses including cost of inventories and staff costs Finance Costs (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Interest on Borrowings Repayable Within Five Years | 2,049 | 2,368 | | Interest on Listed Credit Enhanced Guaranteed Bonds | 7,041 | 8,876 | | Interest on Lease Liabilities | 35 | 7 | | Interest on Loan from a Former Associate | 945 | – | | **Total** | **10,070** | **11,251** | Other Key Expenses (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Cost of Inventories | 505,552 | 681,436 | | Depreciation of Property, Plant and Equipment | 5,982 | 6,044 | | Depreciation of Right-of-use Assets | 501 | 534 | | Staff Costs | 9,661 | 7,259 | [Taxation and Dividends](index=18&type=section&id=Taxation%20and%20Dividends) The Group incurred **HK$97,000** in income tax expense for H1 2025, primarily due to under-provision from prior periods, and no interim dividend is recommended - Hong Kong profits tax is calculated under a two-tiered profits tax rate regime, but the Company or its Hong Kong subsidiaries did not generate assessable profits, hence no income tax[30](index=30&type=chunk) - China corporate income tax is calculated at a rate of **25%**, with an income tax expense of **HK$97,000** for H1 2025, mainly due to under-provision from prior periods[30](index=30&type=chunk)[32](index=32&type=chunk) - The Board does not recommend the payment of any interim dividend for the period (2024: nil)[32](index=32&type=chunk) [Loss Per Share and Property, Plant and Equipment](index=19&type=section&id=Loss%20Per%20Share%20and%20Property%2C%20Plant%20and%20Equipment) Basic loss per share attributable to owners increased to **HK$0.0209** for H1 2025, and the Group acquired property, plant, and equipment worth approximately **HK$0.64 million** during the period Basic Loss Per Share (For the six months ended June 30) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Loss Attributable to Owners of the Company (HKD '000) | (26,941) | (17,758) | | Weighted Average Number of Ordinary Shares Issued | 1,288,000,000 | 1,288,000,000 | | Basic Loss Per Share (HK cents) | (2.09) | (1.38) | - During the period, the Group acquired items of property, plant and equipment at a cost of approximately **HK$0.64 million** (2024: approximately **HK$0.3 million**)[36](index=36&type=chunk) [Trade and Other Receivables](index=20&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, trade and other receivables significantly increased to **HK$510.34 million**, with trade receivables (net of loss allowance) at **HK$453.34 million**, primarily concentrated within 90 days Trade and Other Receivables (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Trade Receivables (Third Parties) | 456,851 | 117,029 | | Less: Loss Allowance | (3,514) | (3,514) | | **Net Trade Receivables** | **453,337** | **113,515** | | Total Other Receivables | 57,000 | 56,003 | | **Total** | **510,337** | **169,518** | Ageing Analysis of Trade Receivables (HKD '000) | Ageing | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Within 90 Days | 449,373 | 107,727 | | Over 365 Days (No Credit Impairment) | 3,964 | 5,788 | | Over 365 Days (Credit Impairment) | 3,514 | 3,514 | - The Group grants credit periods of up to 90 days to trade debtors[38](index=38&type=chunk) [Trade and Other Payables](index=23&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, trade and other payables substantially increased to **HK$763.82 million**, including **HK$435.80 million** due to related companies, which are unsecured, repayable on demand, and interest-free Trade and Other Payables (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Trade Payables | 284,715 | 10,200 | | Accrued Expenses and Other Payables | 10,852 | 13,450 | | Contract Liabilities | 11,932 | 6,914 | | Amounts Due to Related Companies | 435,804 | 314,960 | | **Total** | **763,815** | **365,829** | Amounts Due to Related Companies (HKD '000) | Related Company | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Dafeng Port Development Group | 208,806 | 101,767 | | Xinyu International Development Co., Ltd. | 10,462 | 790 | | Dafeng Port (Hong Kong) | 216,536 | 212,403 | | **Total** | **435,804** | **314,960** | - Amounts due to related companies are unsecured, repayable on demand, and interest-free[44](index=44&type=chunk) [Bank and Other Borrowings](index=25&type=section&id=Bank%20and%20Other%20Borrowings) As of June 30, 2025, total bank and other borrowings decreased to **HK$411.87 million**, with listed credit enhanced guaranteed bonds and related company loans being major components Total Bank and Other Borrowings (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Bank Loans | 10,940 | 42,315 | | Loans from a Related Company | 102,537 | 99,650 | | Listed Credit Enhanced Guaranteed Bonds | 244,925 | 242,010 | | Loans from a Former Associate | 33,035 | 32,105 | | Loans from a Third Party | 19,339 | 25,871 | | **Total** | **411,868** | **442,975** | Borrowing Analysis (HKD '000) | Type | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Secured and Guaranteed | 19,339 | 25,871 | | Unsecured | 136,664 | 132,779 | | Unsecured but Guaranteed | 255,865 | 284,325 | | **Total** | **411,868** | **442,975** | [Share Capital and Related Party Transactions](index=26&type=section&id=Share%20Capital%20and%20Related%20Party%20Transactions) The Company's statutory share capital was **HK$100 million** and issued share capital was **HK$12.88 million**, with no changes during the period, and related party transactions included rental payments to Dafeng Port Development Group Share Capital Structure (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Authorized Share Capital (Ordinary Shares of HK$0.01 each) | 100,000 | 100,000 | | Issued and Fully Paid (Ordinary Shares of HK$0.01 each) | 12,880 | 12,880 | Related Party Transactions (For the six months ended June 30, HKD '000) | Transaction Type | 2025 | 2024 | | :--- | :--- | :--- | | Sales to Yancheng Port Finished Oil Co., Ltd. | 0 | 9,985 | | Rental Expenses: Dafeng Port Development Group | 114 | 105 | [Key Management Personnel Remuneration and Asset Pledges](index=27&type=section&id=Key%20Management%20Personnel%20Remuneration%20and%20Asset%20Pledges) Key management personnel remuneration significantly increased to **HK$2.801 million** for H1 2025, and approximately **HK$19.3 million** of third-party loans are secured by petrochemical storage equipment Key Management Personnel Remuneration (For the six months ended June 30, HKD '000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Salaries, Allowances and Other Short-term Employee Benefits | 2,385 | 690 | | Contributions to Defined Contribution Plans | 416 | 12 | | **Total** | **2,801** | **702** | Bank and Other Facilities (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Total Bank and Other Facilities Granted to the Group | 54,700 | 85,056 | | Total Bank and Other Facilities Utilized | 30,279 | 68,186 | - As of June 30, 2025, approximately **HK$19.3 million** of loans from a third party were secured by petrochemical product storage equipment with a total carrying amount of approximately **HK$32.3 million**[49](index=49&type=chunk) [Commitments and Approval of Interim Financial Statements](index=28&type=section&id=Commitments%20and%20Approval%20of%20Interim%20Financial%20Statements) As of June 30, 2025, the Group had capital commitments of approximately **HK$222 million** for property, plant, and equipment construction, and the interim financial statements were approved on August 26, 2025 Capital Commitments (HKD '000) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Contracted but Not Provided For, Net of Deposits Paid for Construction of Property, Plant and Equipment | 221,763 | 212,862 | - The interim financial statements were approved and authorized for issue by the Board on August 26, 2025[51](index=51&type=chunk) [Management Discussion & Analysis](index=29&type=section&id=Management%20Discussion%20%26%20Analysis) This section provides management's perspective on the Group's financial performance, operational review, and strategic outlook amidst the economic environment [Economic Outlook and Company Strategy](index=29&type=section&id=Economic%20Outlook%20and%20Company%20Strategy) The Group will monitor global economic dynamics, mitigate external impacts, and strategically optimize resources to seize opportunities in Jiangsu Yancheng's integrated development - The global economic situation in H1 2025 was complex and volatile, with weak endogenous growth momentum in the domestic economy[52](index=52&type=chunk) - The Company will continue to closely monitor global economic dynamics to minimize the impact of adverse external factors and ensure stable operations[52](index=52&type=chunk) - Looking ahead, the Company will adopt a prudent operating approach, seize opportunities from the integrated development of Jiangsu Yancheng, rationally reorganize and optimize resources, and cautiously seek investment opportunities[64](index=64&type=chunk) [Business Review](index=29&type=section&id=Business%20Review) The Group's trading business revenue decreased by **25.74% to approximately HK$506 million** due to US-China tariff policies, while petrochemical storage revenue remained stable at approximately **HK$8.5 million** - The Group primarily engages in soybean product trading and petrochemical product storage services[53](index=53&type=chunk)[54](index=54&type=chunk)[55](index=55&type=chunk) Business Revenue Comparison (For the six months ended June 30, HKD) | Business Type | 2025 H1 | 2024 H1 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Trading Business Revenue | 506,200,000 | 681,700,000 | -25.74% | | Petrochemical Product Storage Business Revenue | 8,500,000 | 8,800,000 | -3.25% | - The decrease in trading business revenue was mainly due to the impact of US-China tariff policies, leading to a decline in transaction volume[54](index=54&type=chunk) [Financial Review](index=30&type=section&id=Financial%20Review) The Group's revenue decreased by **25.47% to approximately HK$515 million**, but gross profit margin improved to **0.27%** due to optimized sales channels, though loss for the period expanded to **HK$26.9 million** Financial Performance Comparison (For the six months ended June 30, HKD) | Indicator | 2025 H1 | 2024 H1 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 514,700,000 | 690,500,000 | -25.47% | | Cost of Revenue | 513,300,000 | 689,200,000 | -25.53% | | Gross Profit Margin | 0.27% | 0.19% | +0.08pp | | Finance Costs | 10,100,000 | 11,300,000 | -10.62% | | Loss for the Period | (26,900,000) | (18,100,000) | +48.62% | | Loss Per Share | (0.0209) HK cents | (0.0138) HK cents | +51.45% | - The increase in gross profit margin was mainly due to the Group's proactive development of new sales channels and markets, coupled with optimizing the existing channel structure to enhance bargaining power[56](index=56&type=chunk) [Liquidity and Financial Resources](index=31&type=section&id=Liquidity%20and%20Financial%20Resources) As of June 30, 2025, net current liabilities increased to approximately **HK$374.7 million**, but the liquidity ratio improved to **0.58**, and the gearing ratio improved to **negative 79.3%** Liquidity Indicators Comparison (HKD) | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Net Current Liabilities | (374,700,000) | (344,800,000) | | Current Ratio | 0.58 | 0.34 | | Gearing Ratio | -79.3% | -89.6% | | Total Interest-bearing Borrowings | 411,900,000 | 443,000,000 | | Total Deficit | 519,700,000 | 494,100,000 | - The increase in the current ratio was primarily due to the combined effect of increased trade and other receivables, bank balances and cash, and a decrease in the current portion of bank and other borrowings[58](index=58&type=chunk) [Capital Structure and Dividend Policy](index=31&type=section&id=Capital%20Structure%20and%20Dividend%20Policy) The total deficit attributable to owners increased to approximately **HK$537.1 million**, with no change in issued share capital and no interim dividend recommended Capital Structure Comparison (HKD) | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Deficit Attributable to Owners of the Company | (537,100,000) | (510,700,000) | - The Company's issued share capital remained unchanged during the period[59](index=59&type=chunk) - The Board does not recommend the payment of any interim dividend for the period (2024: nil)[60](index=60&type=chunk) [Strategic Outlook and Investments](index=32&type=section&id=Strategic%20Outlook%20and%20Investments) The Group uses bank financing for business expansion, with **HK$19.3 million** in third-party loans secured by petrochemical storage equipment, and currently has no significant future investment plans - The Group utilizes bank financing and other borrowings to fund its business expansion[61](index=61&type=chunk) - As of June 30, 2025, approximately **HK$19.3 million** of loans from a third party were secured by petrochemical storage equipment with a total carrying amount of approximately **HK$32.3 million**[61](index=61&type=chunk) - During the period, the Company did not undertake any significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures, and currently has no significant future investment or capital asset plans[62](index=62&type=chunk)[63](index=63&type=chunk) [Operational and Risk Management](index=33&type=section&id=Operational%20and%20Risk%20Management) The Group manages foreign exchange risk through various measures, employs **89 staff** with total costs of approximately **HK$9.7 million**, and has capital commitments of approximately **HK$222 million** for PPE construction - The Group monitors foreign exchange risk by adjusting the timing of foreign currency receipts and payments, matching foreign currency balances, and entering into foreign exchange forward contracts with banks, expecting no significant foreign currency risk[65](index=65&type=chunk) Employees and Remuneration (For the six months ended June 30) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Number of Employees | 89 | 90 | | Total Staff Costs (HKD) | 9,700,000 | 7,300,000 | - As of June 30, 2025, the Group had capital commitments contracted but not provided for (net of deposits paid) of approximately **HK$222 million**, primarily related to the construction of property, plant and equipment[67](index=67&type=chunk) [Other Information](index=34&type=section&id=Other%20Information) This section covers contingent liabilities, corporate actions, company name change, director changes, post-balance sheet events, and shareholder interests [Contingent Liabilities and Corporate Actions](index=34&type=section&id=Contingent%20Liabilities%20and%20Corporate%20Actions) The Group had no significant contingent liabilities, but a mandatory unconditional cash offer for **24.44%** of issued share capital was completed during the period - As of June 30, 2025, the Group had no significant contingent liabilities[68](index=68&type=chunk) - Dafeng Port (Hong Kong) acquired a **60%** equity interest in Yancheng Port Overseas and made a mandatory unconditional cash offer at **HK$0.48** per share[69](index=69&type=chunk) - During the offer period, a total of **315 million** offer shares were validly accepted, representing approximately **24.44%** of the Company's then-issued share capital[69](index=69&type=chunk) [Company Name Change](index=35&type=section&id=Company%20Name%20Change) The Company's English and Chinese names were officially changed to Yancheng Port International Co., Limited and 盐城港国际股份有限公司, effective March 6, 2025 - The Company's English name has been changed from "Dafeng Port Heshun Technology Company Limited" to "Yancheng Port International Co., Limited"[70](index=70&type=chunk) - The Chinese name has been changed from "大丰港和顺科技股份有限公司" to "盐城港国际股份有限公司"[70](index=70&type=chunk) - The name change became effective on March 6, 2025[70](index=70&type=chunk) [Changes in Directors and Board Committee Composition](index=35&type=section&id=Changes%20in%20Directors%20and%20Board%20Committee%20Composition) The board and committee composition saw multiple changes, including resignations of non-executive directors, appointments of executive and non-executive directors, and changes in chairman roles - Mr. Ji Longtao, Mr. Yang Yuexia, and Mr. Zhang Shukai resigned as non-executive directors, and Mr. Ji Yaosheng was appointed as an executive director and chief executive officer (effective March 21, 2025)[72](index=72&type=chunk) - Mr. Zhao Liang resigned as executive director, chairman of the Board, and other positions; Mr. Zhou Zhengxiong, Mr. Ding Anguang, and Ms. Yuan Xin were appointed as non-executive directors (effective March 31, 2025)[75](index=75&type=chunk) - Ms. Yuan Xin was re-designated as an executive director and vice chairman of the Board (effective May 28, 2025); Mr. Lu Shuai was appointed as an executive director, chairman of the Board, and chairman of the Nomination Committee (effective August 1, 2025)[75](index=75&type=chunk) [Post Balance Sheet Events](index=36&type=section&id=Post%20Balance%20Sheet%20Events) No significant post-balance sheet events occurred after the period and up to the announcement date, other than those disclosed - Save as disclosed in this announcement, there were no significant events after the period and up to the date of this announcement[74](index=74&type=chunk) [Directors' and Chief Executive's Interests](index=37&type=section&id=Directors'%20and%20Chief%20Executive's%20Interests) As of June 30, 2025, no directors or chief executives held disclosable interests or short positions in the Company's shares or related corporations - As of June 30, 2025, no directors or chief executive of the Company had any interests or short positions in the shares, underlying shares, and debentures of the Company or any associated corporation that were required to be disclosed under the SFO or the GEM Listing Rules[76](index=76&type=chunk) [Convertible Securities, Warrants or Similar Rights](index=37&type=section&id=Convertible%20Securities%2C%20Warrants%20or%20Similar%20Rights) As of June 30, 2025, the Group had not issued or granted any convertible securities, warrants, or similar rights - As of June 30, 2025, the Group had not issued or granted any convertible securities, warrants, or other similar rights[77](index=77&type=chunk) [Substantial Shareholders' Interests](index=38&type=section&id=Substantial%20Shareholders'%20Interests) As of June 30, 2025, Yancheng Port Overseas held **57.46%** of the Company's shares, with Dafeng Port (Hong Kong) and its related entities holding a combined **74.97%** Substantial Shareholders' Holdings (As of June 30, 2025) | Shareholder Name | Capacity/Nature of Interest | Number of Shares Held | Approximate Percentage of Company's Issued Share Capital | | :--- | :--- | :--- | :--- | | Yancheng Port Overseas | Beneficial Owner | 740,040,000 (L) | 57.46% | | Dafeng Port (Hong Kong) | Interest of Controlled Corporation + Beneficial Owner | 965,575,000 (L) | 74.97% | | Dafeng Port Development Group | Interest of Controlled Corporation | 965,575,000 (L) | 74.97% | | Jiangsu Yancheng | Interest of Controlled Corporation | 965,575,000 (L) | 74.97% | | Yancheng Municipal People's Government | Interest of Controlled Corporation | 965,575,000 (L) | 74.97% | - Dafeng Port Development Group, Jiangsu Yancheng, and Yancheng Municipal People's Government are deemed to have interests in the Company's shares held by Yancheng Port Overseas and Dafeng Port (Hong Kong)[82](index=82&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=39&type=section&id=Purchase%20Sale%20or%20Redemption%20of%20Listed%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any of its listed securities during the period - During the period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[81](index=81&type=chunk) [Corporate Governance](index=40&type=section&id=Corporate%20Governance) The Board believes it operates independently despite the controlling shareholder's competing business, and the Company has complied with all Corporate Governance Code provisions - The controlling shareholder, Dafeng Port Development Group, engages in competing businesses involving various goods trading, but the Board believes their business focus differs and does not pose a significant competitive threat to the Group[83](index=83&type=chunk) - The Board believes it operates independently from Dafeng Port Development Group, as directors are prohibited from voting on conflict of interest matters and are fully aware of their fiduciary duties[84](index=84&type=chunk) - The Company has adopted a code of conduct for directors' securities transactions, and no non-compliance was found during the period[86](index=86&type=chunk) - The Company has complied with all code provisions of the Corporate Governance Code during the period and will continue to review and enhance its corporate governance standards[87](index=87&type=chunk) [Board Information](index=42&type=section&id=Board%20Information) This section provides details on the Audit Committee's composition and responsibilities, along with an acknowledgment from the Board Chairman and the current Board composition [Audit Committee](index=42&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviewed the interim financial statements and found them compliant with accounting standards and legal requirements - The Audit Committee was established on August 3, 2013, and comprises three independent non-executive directors: Mr. Liu Hon Kee (Chairman), Mr. Yu Xugang, and Ms. Xu Jingyang[88](index=88&type=chunk) - The Audit Committee's primary responsibilities include providing recommendations on the appointment and removal of external auditors, reviewing financial statements, and overseeing the Group's internal control procedures and risk management system[88](index=88&type=chunk) - The interim financial statements have not been audited by the Company's auditors but have been reviewed by the Audit Committee and are considered to comply with applicable accounting standards, GEM Listing Rules, and legal requirements[88](index=88&type=chunk) [Acknowledgement and Board Composition](index=42&type=section&id=Acknowledgement%20and%20Board%20Composition) Board Chairman Mr. Lu Shuai extends gratitude to all management, staff, business partners, customers, and shareholders, and the Board currently comprises three executive, one non-executive, and three independent non-executive directors - Board Chairman Mr. Lu Shuai, on behalf of the Board, extends gratitude to all management, staff, business partners, customers, and shareholders[89](index=89&type=chunk)[90](index=90&type=chunk) Board Member Composition (As of the date of this announcement) | Category | Name | | :--- | :--- | | Executive Directors | Mr. Lu Shuai (Chairman), Ms. Yuan Xin (Vice Chairman), Mr. Ji Yaosheng | | Non-executive Director | Mr. Ding Anguang | | Independent Non-executive Directors | Mr. Liu Hon Kee, Mr. Yu Xugang, Ms. Xu Jingyang |

截至二零二五年六月三十日止半年度業績 元/股。 報告期內，按國際財務報告準則編製的本公司營業收入約為 4,129,179 萬元，較上年同 期下降約 9.38%。 截至報告期末，按國際財務報告準則編製的本公司股東權益持有人應佔利潤約為 463,102 萬元，較上年同期上升約 32.83%。 截至報告期末，按國際財務報告準則編製的每股基本盈利為 0.88 元，較上年同期上升 0.22 元/股。 在本公告內，除非另有說明，貨幣單位均為人民幣，中華人民共和國（「中國」）法定貨 幣；除非另有說明，本公告內所有財務資料均按照企業會計準則（2006）（「中國會計準 則」）編製。本公告所指「報告期」是指 2025 年 1 月 1 日至 2025 年 6 月 30 日的期間。 一、本公司基本情況簡介 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而産生或因倚賴該等內容而 引致的任何損失承擔任何責任。 安徽海螺水泥股份有限公司 ANHUI CONCH CEMENT COMPANY LIMITED （在中華人民共和國註冊成立 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產 生或因依賴該等內容而引致之任何損失承擔任何責任。 ( 於中華人民共和國註冊成立的股份有限公司 ) (股份代號：1666) 中期業績公告 截至二零二五年六月三十日止六個月 摘要 1 截至二零二五年六月三十日止六個月，本集團銷售收入較二零二四年同期下降約 7.69%。 截至二零二五年六月三十日止六個月，歸屬於本公司所有者之利潤較二零二四年同期 下降約 21.01%。 截至二零二五年六月三十日止六個月，歸屬於本公司所有者之每股收益為人民幣 0.26 元。 董事會決議不派發截至二零二五年六月三十日止六個月之中期股息。 中期業績(未經審核) 北京同仁堂科技發展股份有限公司（「本公司」或「公司」）之董事會 （「董事會」）欣然宣 佈本公司及其子公司（以下合稱「本集團」）截至二零二五年六月三十日止六個月（「報告 期」）未經審核之業績： 簡明合併利潤表(未經審核) | | | | 截至六月三十日止六個月 | | | --- | --- | --- | --- | --- ...

[Financial Highlights](index=1&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) NET-A-GO TECHNOLOGY LIMITED reported **73.0%** revenue growth and a shift from loss to profit for H1 2025, with **6.4 HK Cents** basic and diluted EPS - No interim dividend declared for the period[2](index=2&type=chunk) Interim Financial Highlights | Metric | Six Months Ended June 30, 2025 (HKD Thousand) | Prior Period (HKD Thousand) | Change Rate | |---|---|---|---| | Revenue | 180,697 | 104,428 | +73.0% | | Profit/(Loss) attributable to equity holders of the Company from continuing operations | 22,670 | (4,225) | Turned from loss to profit | | Profit/(Loss) attributable to equity holders of the Company | 47,535 | (4,811) | Turned from loss to profit | | Basic and diluted earnings per share (HK Cents) | 6.4 | (0.6) | Turned from loss to profit | [Condensed Consolidated Statement of Comprehensive Income](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) The condensed consolidated statement of comprehensive income shows significant revenue and gross profit growth, with operating profit turning from loss to profit Condensed Consolidated Statement of Comprehensive Income (For the Six Months Ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change | Change Rate | |---|---|---|---|---| | Revenue | 180,697 | 104,428 | +76,269 | +73.0% | | Cost of Revenue | (147,258) | (97,334) | (49,924) | +51.3% | | Gross Profit | 33,439 | 7,094 | +26,345 | +371.4% | | Operating Profit/(Loss) | 20,940 | (5,801) | +26,741 | Turned from loss to profit | | Profit/(Loss) from continuing operations for the period | 18,390 | (7,078) | +25,468 | Turned from loss to profit | | Profit/(Loss) from discontinued operations for the period | 24,865 | (586) | +25,451 | Turned from loss to profit | | Profit/(Loss) attributable to equity holders of the Company | 47,535 | (4,811) | +52,346 | Turned from loss to profit | | Basic and diluted EPS (HK Cents) - Continuing operations | 3.1 | (0.5) | +3.6 | Turned from loss to profit | | Basic and diluted EPS (HK Cents) - Discontinued operations | 3.3 | (0.1) | +3.4 | Turned from loss to profit | | Basic and diluted EPS (HK Cents) - Total | 6.4 | (0.6) | +7.0 | Turned from loss to profit | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) Total assets slightly increased by June 30, 2025, driven by current asset growth, while non-current assets decreased, and total equity and liabilities varied Condensed Consolidated Statement of Financial Position (As at June 30, 2025) | Metric | June 30, 2025 (HKD Thousand) | December 31, 2024 (HKD Thousand) | Change | Change Rate | |---|---|---|---|---| | Total Non-current Assets | 307,164 | 388,820 | (81,656) | -21.0% | | Total Current Assets | 675,068 | 588,688 | +86,380 | +14.7% | | Total Assets | 982,232 | 977,508 | +4,724 | +0.5% | | Total Equity | 373,060 | 348,414 | +24,646 | +7.1% | | Total Non-current Liabilities | 83,418 | 182,244 | (98,826) | -54.2% | | Total Current Liabilities | 525,754 | 446,850 | +78,904 | +17.7% | | Total Liabilities | 609,172 | 629,094 | (19,922) | -3.2% | [Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) Total equity increased to **HKD 373,060 thousand** by June 30, 2025, driven by profit and disposal gains, partially offset by share repurchases - Profit for the period **HKD 47,535 thousand** significantly increased equity[8](index=8&type=chunk) - Share repurchases resulted in a reduction in share capital and share premium of **HKD 69,952 thousand**[8](index=8&type=chunk) - Disposal of subsidiaries generated a gain of **HKD 52,404 thousand**[8](index=8&type=chunk) Condensed Consolidated Statement of Changes in Equity (For the Six Months Ended June 30, 2025) | Metric | Balance as at January 1, 2025 (HKD Thousand) | Profit/(Loss) for the period (HKD Thousand) | Other comprehensive loss (HKD Thousand) | Share Repurchases (HKD Thousand) | Disposal of Subsidiaries (HKD Thousand) | Balance as at June 30, 2025 (HKD Thousand) | |---|---|---|---|---|---|---| | Total (Equity attributable to owners of the Company) | 317,820 | 47,535 | (186) | (69,952) | 52,404 | 346,746 | | Total Equity | 348,414 | 43,255 | (186) | (69,952) | 52,404 | 373,060 | [Notes to the Interim Financial Information](index=8&type=section&id=%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E9%99%84%E8%A8%BB) This section details the basis of preparation, accounting policies, segment information, revenue, expenses, taxes, discontinued operations, EPS, receivables, payables, financial assets, and related party transactions [1. General Information](index=8&type=section&id=1.%20%E4%B8%80%E8%88%AC%E8%B3%87%E6%96%99) NET-A-GO TECHNOLOGY LIMITED, incorporated in the Cayman Islands and listed in Hong Kong, primarily engages in media advertising, environmental protection, and trading - The Company is incorporated in the Cayman Islands with its principal place of business in Hong Kong[9](index=9&type=chunk) - The Company is listed on the Main Board of The Stock Exchange of Hong Kong Limited[10](index=10&type=chunk) - Principal businesses include media advertising and marketing, environmental protection, and trading[10](index=10&type=chunk) [2. Basis of Preparation and Significant Accounting Policies](index=8&type=section&id=2.%20%E7%B7%A8%E8%A3%BD%E5%9F%BA%E6%BA%96%E5%8F%8A%E9%87%8D%E5%A4%A7%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96) The condensed consolidated interim financial information is prepared under HKAS 34 using historical cost, with new IFRS amendments having no material impact - The condensed consolidated interim financial information is prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting'[11](index=11&type=chunk) - Prepared on a historical cost basis[11](index=11&type=chunk) - The adopted amendments to IFRS had **no material impact** on the Group's financial position and performance for the current and prior periods[12](index=12&type=chunk) [2.1 New Accounting Standards and Accounting Changes](index=9&type=section&id=2.1%20%E6%96%B0%E6%9C%83%E8%A8%88%E6%BA%96%E5%89%87%E5%8F%8A%E6%9C%83%E8%A8%88%E8%AE%8A%E5%8B%95) New IFRS amendments, including IAS 21 and IFRS 21 (Amendments) 'Lack of Exchangeability', were applied with no material impact on financial position or performance - IAS 21 and IFRS 21 (Amendments) 'Lack of Exchangeability' were first applied in this interim period[12](index=12&type=chunk) - The application of new accounting standards had **no material impact** on the Group's financial position and performance for the current and prior periods[12](index=12&type=chunk) [3. Segment Information](index=9&type=section&id=3.%20%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group operates three continuing segments: environmental protection, media advertising, and trading, with property leasing and medical device sales classified as discontinued operations - The Group operates three continuing segments: environmental protection business, media advertising and marketing business, and trading business[13](index=13&type=chunk)[14](index=14&type=chunk) - Property leasing business and medical device sales business have been disposed of and classified as discontinued operations[13](index=13&type=chunk) [3. (a) Segment Revenue and Results Analysis](index=10&type=section&id=3.%20(a)%20%E5%88%86%E9%83%A8%E6%94%B6%E5%85%A5%E5%8F%8A%E6%A5%AD%E7%B8%BE%E5%88%86%E6%9E%90) Segment revenue and results show significant media advertising growth, trading profit from financial assets, declining environmental protection revenue, and substantial discontinued operations profit from disposal - Media advertising and marketing business revenue significantly increased from **HKD 3,791 thousand** to **HKD 128,191 thousand**, achieving **significant growth**[15](index=15&type=chunk) - Profit from trading business primarily derived from gains on financial assets at fair value through profit or loss and disposal gains[15](index=15&type=chunk) Segment Revenue and Results (For the Six Months Ended June 30) | Segment | 2025 Revenue (HKD Thousand) | 2024 Revenue (HKD Thousand) | 2025 Profit/(Loss) (HKD Thousand) | 2024 Profit/(Loss) (HKD Thousand) | |---|---|---|---|---| | Environmental Protection Business | 36,040 | 81,351 | 2,398 | 8,464 | | Media Advertising and Marketing Business | 128,191 | 3,791 | (10,488) | (14,326) | | Trading Business | 16,466 | 19,286 | 29,238 | 2,161 | | Discontinued Operations | 1,176 | 4,324 | 24,865 | (586) | [3. (b) Segment Assets and Liabilities](index=10&type=section&id=3.%20(b)%20%E5%88%86%E9%83%A8%E8%B3%87%E7%94%A2%E5%8F%8A%E8%B2%A0%E5%82%B5) Segment assets and liabilities analysis shows slight environmental protection asset increase, stable media advertising, decreased trading assets and liabilities, and no assets or liabilities for discontinued operations - Assets and liabilities of discontinued operations were **cleared to zero** in the current period[17](index=17&type=chunk) Segment Assets and Liabilities (As at June 30, 2025) | Segment | Assets as at June 30, 2025 (HKD Thousand) | Assets as at December 31, 2024 (HKD Thousand) | Liabilities as at June 30, 2025 (HKD Thousand) | Liabilities as at December 31, 2024 (HKD Thousand) | |---|---|---|---|---| | Environmental Protection Business | 163,142 | 143,780 | 42,012 | 47,386 | | Media Advertising and Marketing Business | 399,789 | 404,575 | 357,996 | 368,887 | | Trading Business | 82,170 | 136,774 | 8,523 | 6,405 | | Discontinued Operations | – | 70,212 | – | 16,288 | [3. (c) Geographical Information](index=11&type=section&id=3.%20(c)%20%E5%9C%B0%E5%8D%80%E8%B3%87%E6%96%99) Continuing operations revenue primarily from China showed significant growth, while Hong Kong revenue slightly decreased, and discontinued operations revenue also mainly came from China - Revenue from continuing operations in China **nearly doubled year-on-year**[18](index=18&type=chunk) - No single customer accounted for more than **10%** of total revenue in the current period[19](index=19&type=chunk) Geographical Segment Revenue (For the Six Months Ended June 30) | Region | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | Continuing Operations - China | 164,230 | 86,334 | | Continuing Operations - Hong Kong | 16,467 | 18,094 | | Discontinued Operations - China | 1,176 | 4,324 | [4. Revenue](index=12&type=section&id=4.%20%E6%94%B6%E5%85%A5) Total revenue was approximately **HKD 180,697 thousand**, a **73.0%** year-on-year increase, primarily driven by substantial growth in media advertising and marketing revenue - Advertising revenue from media advertising and marketing business was the **primary driver** of revenue growth in the current period[20](index=20&type=chunk) Revenue Breakdown (For the Six Months Ended June 30) | Business Segment | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change Rate | |---|---|---|---| | Media Advertising and Marketing Business (Advertising revenue) | 128,191 | 3,791 | +3280.0% | | Environmental Protection Business (Service revenue) | 36,040 | 81,351 | -55.7% | | Trading Business (Cosmetics trading) | 16,466 | 19,142 | -14.0% | | Discontinued Operations (Property leasing) | 1,176 | 996 | +18.1% | [Contract Assets from Customer Contracts](index=13&type=section&id=%E5%AE%A2%E6%88%B6%E5%90%88%E7%B4%84%E7%9B%B8%E9%97%9C%E4%B9%8B%E8%B3%87%E7%94%A2) Total contract assets increased to **HKD 46,398 thousand** by June 30, 2025, mainly due to growth in media advertising and marketing business - Non-current contract assets of **HKD 13,706 thousand** originated from an eight-year service contract in the environmental protection business, not yet converted to trade receivables[21](index=21&type=chunk) Contract Assets (HKD Thousand) | Category | June 30, 2025 | December 31, 2024 | |---|---|---| | Environmental Protection Business | 28,806 | 28,806 | | Media Advertising and Marketing Business | 32,779 | 21,081 | | Total Contract Assets (net of loss allowance) | 46,398 | 34,700 | [5. General and Administrative Expenses](index=14&type=section&id=5.%20%E4%B8%80%E8%88%AC%E5%8F%8A%E8%A1%8C%E6%94%BF%E8%B2%BB%E7%94%A8) General and administrative expenses significantly increased to approximately **HKD 27,564 thousand**, primarily due to higher staff costs from media advertising and marketing business expansion - Staff salaries and allowances **significantly increased**, mainly due to the expansion of the media advertising and marketing business[23](index=23&type=chunk) General and Administrative Expenses (For the Six Months Ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | Change Rate | |---|---|---|---| | Staff salaries and allowances | 26,250 | 6,554 | +300.5% | | Total | 27,564 | 12,113 | +127.5% | [6. Finance Income – Net](index=14&type=section&id=6.%20%E8%B2%A1%E5%8B%99%E6%94%B6%E5%85%A5%EF%BC%8D%E6%B7%A8%E9%A1%8D) Net finance income turned to a net expense of **HKD 1,742 thousand**, primarily due to a substantial increase in finance costs from shareholder and related party loans - Finance costs primarily include interest expenses on shareholder loans and related party loans, increasing by approximately **249%** year-on-year[24](index=24&type=chunk) Finance Income – Net (For the Six Months Ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | Finance income | 2,459 | 2,106 | | Finance costs | (4,201) | (1,204) | | Finance income – net | (1,742) | 902 | [7. Income Tax Expense](index=14&type=section&id=7.%20%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) Income tax expense decreased to **HKD 808 thousand**, entirely from China corporate income tax, with no Hong Kong profits tax, and mainland China subsidiaries subject to a **25%** tax rate - Hong Kong profits tax is provided at a **16.5%** rate, and mainland China corporate income tax at a **25%** rate[25](index=25&type=chunk) Income Tax Expense (For the Six Months Ended June 30) | Item | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | China corporate income tax | 808 | 2,179 | [8. Discontinued Operations](index=15&type=section&id=8.%20%E7%B5%82%E6%AD%A2%E7%B6%93%E7%87%9F%E6%A5%AD%E5%8B%99) The Group completed the disposal of its property leasing business and previously sold its medical device sales business, both classified as discontinued operations, with the property leasing disposal generating significant gain - The property leasing business disposal was completed on **June 30, 2025**, for a consideration of approximately **HKD 77,525 thousand**[26](index=26&type=chunk) - The medical device sales business (Youmitai) disposal was completed on **August 1, 2024**, for a consideration of approximately **HKD 24,648 thousand**[28](index=28&type=chunk) [8. (a) Proposed Disposal of Property Leasing Business](index=15&type=section&id=8.%20(a)%20%E6%93%AC%E5%87%BA%E5%94%AE%E7%89%A9%E6%A5%AD%E7%A7%9F%E8%B3%83%E6%A5%AD%E5%8B%99) The Group disposed of its property leasing business for approximately **HKD 77,525 thousand**, completed by **June 30, 2025**, generating a gain of **HKD 24,226 thousand** - A gain of **HKD 24,226 thousand** arose from the disposal of the subsidiary[27](index=27&type=chunk) Property Leasing Disposal Group Results (For the Six Months Ended June 30) | Metric | 2025 (HKD Thousand) | 2024 (HKD Thousand) | |---|---|---| | Revenue | 1,176 | 996 | | Profit after tax from discontinued operations | 639 | 389 | [8. (b) Disposal of Medical Device Sales Business](index=17&type=section&id=8.%20(b)%20%E5%87%BA%E5%94%AE%E9%86%AB%E7%99%82%E5%99%A8%E6%A2%B0%E9%8A%B7%E5%94%AE%E6%A5%AD%E5%8B%99) The Group completed the disposal of **90%** equity in Shanghai Youmitai Medical Technology Co., Ltd. for approximately **HKD 24,648 thousand** on **August 1, 2024**, classified as a discontinued operation Youmitai Results (For the Six Months Ended June 30, 2024) | Metric | 2024 (HKD Thousand) | |---|---| | Revenue | 3,328 | | Loss from discontinued operations for the period | (975) | [9. Dividends](index=18&type=section&id=9.%20%E8%82%A1%E6%81%AF) The Board does not recommend the payment of an interim dividend for the current period, consistent with the prior period - The Directors do not recommend the payment of an **interim dividend** for the interim period[30](index=30&type=chunk) [10. Earnings/(Loss) Per Share](index=18&type=section&id=10.%20%E6%AF%8F%E8%82%A1%E6%BA%A2%E5%88%A9%E2%88%95%EF%BC%88%E虧%E6%90%8D%EF%BC%89) Basic and diluted earnings per share significantly improved to **6.4 HK Cents**, compared to a loss of **0.6 HK Cents** in the prior period Earnings/(Loss) Per Share (For the Six Months Ended June 30) | Metric | 2025 (HKD Thousand/Thousand Shares/HKD) | 2024 (HKD Thousand/Thousand Shares/HKD) | |---|---|---| | Profit/(Loss) attributable to owners of the Company | 47,535 | (4,811) | | Weighted average number of ordinary shares in issue | 746,341 | 769,817 | | Earnings/(Loss) per share | 0.064 | (0.006) | [10. (a) Basic](index=18&type=section&id=10.%20(a)%20%E5%9F%BA%E6%9C%AC) Basic earnings per share, calculated using profit attributable to owners and weighted average ordinary shares, was **HKD 0.064** for the period - Basic earnings per share was **HKD 0.064**, compared to a loss per share of **HKD 0.006** in the prior period[32](index=32&type=chunk) [10. (b) Diluted](index=18&type=section&id=10.%20(b)%20%E6%攤%E8%96%84) Diluted earnings per share equals basic earnings per share as share options had no dilutive effect on loss per share - Diluted earnings per share for the period equals basic earnings per share as share options had **no dilutive effect**[33](index=33&type=chunk) [11. Trade Receivables](index=19&type=section&id=11.%20%E8%B2%A3%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) Total trade receivables increased by **48.6%** to **HKD 209

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 EXCELLENCE COMMERCIAL PROPERTY & FACILITIES MANAGEMENT GROUP LIMITED 卓越商企服務集團有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：6989） 截 至2025年6月30日止六個月的中期業績公告 摘 要 – 1 – 1、 截 至2025年6月30日止六個月本集團收入約為人民幣2,015.15百 萬 元，較2024 年同期約人民幣2,082.48百萬元降低3.2%。 2、 截 至2025年6月30日止六個月本集團毛利約為人民幣379.06百 萬 元，較2024 年同期約人民幣422.17百萬元降低10.2%。 3、 截 至2025年6月30日止六個月本集團溢利約為人民幣162.31百 萬 元，較2024 年同期約人民幣183.80百萬元降低11 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公布的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公布全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 CHINESE PEOPLE HOLDINGS COMPANY LIMITED ύ!҇!!ި!Ԗ!ज़!Ϧ!љ ȐܭԭኀၲຏнԋҥϐԖज़ೢҺϦљȑ ȐިҽжဦǺ792ȑ! 截至2025年6月30日止六個月之中期業績公布 財務摘要 本期間收入減少約9.84%至約人民幣12.28億元（2024年：人民幣13.62億元），主要由於管道燃氣 輸配業務及罐裝燃氣供應業務收入減少。 本期間溢利約人民幣77.50百萬元（2024年：人民幣66.61百萬元），同比2024年同期增加約人民 幣10.89百萬元，主要因銷售及分銷開支以及行政開支減少。 本期間每股基本盈利為人民幣0.72分（2024年：人民幣0.49分）。 董事會不建議派付本期間中期股息（2024年：無）。 中民控股有限公司（「本公司」）董事（「董事」）會「董事會」）謹此公布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（「本期間」 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 河南金源氫化化工股份有限公司 Henan Jinyuan Hydrogenated Chemicals Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股票代號：2502） 截至2025年6月30日止六個月中期業績公告 財務摘要 收益 ：人民幣1,442.2百萬元 本公司擁有人應佔期內虧損 ：人民幣20.2百萬元 每股基本虧損 ：人民幣0.02元 業績 河南金源氫化化工股份有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司 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綜合業 績，連同截至2024年6月30日止六個月的比較數字。 下文呈列本集團的簡明綜合財務報表、管理層討論及分析和企業管治及其他資料。 1 簡明綜合損益及其他全面收益表 截至2025年6月30日止六個月 | | | 截至以下日期止六個月 | | | --- | --- | --- | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Beauty Farm Medical and Health Industry Inc. 美麗田園醫療健康產業有限公司 * （於開曼群島註冊成立的有限公 司） （股份代號：2373） 截至2025年6月30日止六個月中期業績公告 董事會欣然宣佈本集團截至2025年6月30日止六個月的未經審核簡明綜合中期業績，連 同如下2024年同期的比較數字。該等中期業績已由審核委員會及本公司管理層審閱。 於本公告內，「我們」指本公司及倘文義另有指明，則指本集團。 | 業績概要 | | | | | --- | --- | --- | --- | | | | 截至6月30日止六個月 | | | | 2025年 | 2024年 | 變動 | | | 人民幣千元 (i) | 人民幣千元 (i) | | | | （未經審核） | （未經審核） | | | 直營門店客流 | 918,069 | 621,136 | 47.8% | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 UBoT Holding Limited 優博控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8529） 中期業績公告 截至二零二五年六月三十日止六個月 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的特色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險。有 意 投 資 的 人 士 應 了 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 的 考 慮 後 方 作 出 投 資 決 定。 由 於GEM上 市 公 司 普 遍 為 中 小 型 公 司，在GEM買賣之證券可能會較於主板買 賣 之 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 LX Technology Group Limited 凌雄科技集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2436） 截至2025年6月30日止六個月之中期業績公告 凌雄科技集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公 司及其附屬公司（統稱「本集團」或「我們」）截至2025年6月30日止六個月（「本期 間」）之未經審核簡明綜合業績，連同2024年相應期間之比較數字。該等未經審 核簡明綜合業績已由本公司審核委員會（「審核委員會」）審閱。 財務摘要 本集團於本期間的收入約為人民幣1,116.7百萬元（截至2024年6月30日止六個 月：約人民幣942.6百萬元）。 本集團於本期間的毛利約為人民幣101.9百萬元（截至2024年6月30日止六個月： 人民幣92.9百萬元）。 本期間純利約為人民幣4.9百萬元（截至2024年6月30日止六個月：淨虧損約為 人民幣40. ...