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。 OneConnect Financial Technology Co., Ltd. 壹賬通金融科技有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6638） （紐交所股份代碼：OCFT） 截至2025年6月30日止六個月的 中期業績公告 壹賬通金融科技有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公 司及其附屬公司以及其他綜合實體（統稱「本集團」）截至2025年6月30日止六個月 （「報告期」）的未經審核中期綜合業績，連同2024年同期的比較數字。 於本公告中，「我們」指本公司，倘文義另有所指，指本集團。 財務表現摘要 1 • 截至2025年6月30日止六個月的持續經營業務1收入從2024年同期的人民幣 1,415.8百萬元減少43.4%至人民幣801.2百萬元。 • 截至2025年6月30日止六個月的持續經營業務毛利率為26.1%，而2024年同 期則為37.1%。 • 截至 ...

ROBOSENSE TECHNOLOGY CO., LTD （於開曼群島註冊成立的有限公司） 速騰聚創科技有限公司 （股份代號：2498） 截至2025年6月30日止六個月的中期業績公告 董事會欣然公佈本集團截至2025年6月30日止六個月的未經審核合併中期業績，連同2024年相 應期間的比較數字。本集團截至2025年6月30日止六個月的中期簡明合併財務報表（「中期財務 資料」）已由本公司根據國際會計準則第34號「中期財務報告」編製。中期財務資料未經審核，惟 已由本公司獨立核數師羅兵咸永道會計師事務所根據國際審計與鑒證準則理事會頒佈的國際 審閱委聘準則第2410號「由實體的獨立核數師執行中期財務資料審閱」進行審閱。中期財務資 料亦已由本公司審核委員會審閱。該等中期業績乃摘錄自中期財務資料。 運營亮點及近期發展 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產生或因倚賴該等內容而引致的任何損失承 擔任何責任。 1 • 截至2025年6月30日止第二季度，本集團的激光雷達產品、用於ADAS應用的激光雷達產 ...

[Unaudited Interim Results for the Six Months Ended June 30, 2025](index=1&type=section&id=Unaudited%20Interim%20Results) This section presents the unaudited interim financial results, detailed notes, management's analysis, and corporate governance information for the six months ended June 30, 2025 [Condensed Consolidated Financial Statements](index=1&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The Group's financial performance for the six months ended June 30, 2025, significantly deteriorated, reporting a loss of HK$63,263 thousand, primarily due to a substantial increase in fair value losses on investment properties [Condensed Consolidated Statement of Profit or Loss](index=1&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) This statement details the Group's revenues, expenses, and net loss for the period, highlighting the impact of fair value changes on investment properties Condensed Consolidated Statement of Profit or Loss Key Data (For the Six Months Ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 23,370 | 24,213 | (843) | -3.48% | | Other income | 2,612 | 6,503 | (3,891) | -59.83% | | Other gains (losses) | 686 | (4) | 690 | - | | Finance costs | (13,368) | (17,668) | 4,300 | -24.34% | | Loss from fair value changes of investment properties | (60,047) | (12,790) | (47,257) | 369.48% | | Loss before tax | (64,605) | (15,748) | (48,857) | 310.26% | | Loss for the period | (63,263) | (17,037) | (46,226) | 271.32% | | Basic loss per share (HK cents) | (5.10) | (1.37) | (3.73) | 272.26% | - The loss for the period significantly increased by **271.32%**, primarily due to a surge in fair value losses on investment properties from **HK$12,790 thousand** in 2024 to **HK$60,047 thousand** in 2025[3](index=3&type=chunk) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This statement presents the Group's total comprehensive expenses, primarily driven by the expanded loss for the period Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Key Data (For the Six Months Ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Loss for the period | (63,263) | (17,037) | (46,226) | 271.32% | | Fair value changes of equity instruments at fair value through other comprehensive income | (2,730) | (2,760) | 30 | -1.09% | | Total comprehensive expense for the period | (65,993) | (19,797) | (46,196) | 233.35% | - Total comprehensive expense for the period significantly increased by **233.35%**, mainly impacted by the expanded loss for the period[5](index=5&type=chunk) [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This statement provides a snapshot of the Group's assets, liabilities, and equity, indicating a decline in total assets and equity, alongside increased liquidity pressure Condensed Consolidated Statement of Financial Position Key Data (As at June 30) | Indicator | 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total non-current assets | 2,257,466 | 2,296,689 | (39,223) | -1.71% | | Investment properties | 2,229,660 | 2,266,120 | (36,460) | -1.61% | | Total current assets | 115,350 | 134,403 | (19,053) | -14.18% | | Cash and cash equivalents | 49,047 | 68,355 | (19,308) | -28.25% | | Total current liabilities | 207,757 | 133,148 | 74,609 | 56.04% | | Bank borrowings (current) | 180,000 | 100,000 | 80,000 | 80.00% | | Net current (liabilities) assets | (92,407) | 1,255 | (93,662) | -7463.11% | | Total equity | 1,676,076 | 1,742,069 | (65,993) | -3.79% | | Total non-current liabilities | 488,983 | 555,875 | (66,892) | -12.03% | | Other borrowings (non-current) | 350,000 | 415,000 | (65,000) | -15.66% | - Net current assets turned into net current liabilities of **HK$92,407 thousand** as of June 30, 2025, from net current assets of **HK$1,255 thousand** as of December 31, 2024, primarily due to an **80%** increase in current bank borrowings to **HK$180,000 thousand**[6](index=6&type=chunk) - Both total assets and total equity decreased, reflecting a reduction in the company's value[6](index=6&type=chunk)[7](index=7&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section details the basis of preparation, accounting policies, revenue breakdown, other income, taxation, loss per share, dividend policy, and specifics of receivables and payables, addressing liquidity challenges and management's going concern assessment [Auditor's Review](index=5&type=section&id=Auditor's%20Review) The interim financial report for the six months ended June 30, 2025, was reviewed by Deloitte Touche Tohmatsu, resulting in an unmodified conclusion - The Group's interim financial report for the six months ended June 30, 2025, has been reviewed by Deloitte Touche Tohmatsu in accordance with Hong Kong Standard on Review Engagements 2410, with an unmodified review conclusion issued[8](index=8&type=chunk) [Basis of Preparation](index=5&type=section&id=Basis%20of%20Preparation) This section outlines the accounting standards and principles used for preparing the condensed consolidated financial statements, including the assessment of going concern amidst liquidity challenges - The condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" and the applicable disclosure requirements of Appendix D2 to the Listing Rules[9](index=9&type=chunk) - For the six months ended June 30, 2025, the Group incurred an operating loss of **HK$63,263,000** and negative operating cash flow of **HK$936,000**, with current liabilities exceeding current assets by **HK$92,407,000**, mainly due to **HK$180,000,000** in bank borrowings repayable within twelve months[10](index=10&type=chunk) - Management expects rental income from the completed renovation of "The Link" (formerly "Concord Plaza") and has **HK$250,000,000** in unused financing facilities from its intermediate holding company, leading the Board to believe the Group has sufficient resources to continue as a going concern[11](index=11&type=chunk) [Significant Accounting Policies](index=5&type=section&id=Significant%20Accounting%20Policies) The condensed consolidated financial statements are primarily prepared on a historical cost basis, with certain properties and financial instruments measured at fair value - The condensed consolidated financial statements are primarily prepared on a historical cost basis, except for certain properties and financial instruments measured at fair value[12](index=12&type=chunk) - Revisions to Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants were first adopted in this interim period but had no significant impact on the financial position or performance[13](index=13&type=chunk) [Revenue and Segment Information](index=6&type=section&id=Revenue%20and%20Segment%20Information) The Group's revenue primarily derives from property leasing and management in Hong Kong, with no separate segment analysis presented Revenue Composition (For the Six Months Ended June 30) | Revenue Source | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Fixed rental income from investment properties | 19,932 | 20,504 | (572) | -2.79% | | Property management fees | 2,613 | 2,509 | 104 | 4.14% | | Dividend income from equity instruments at fair value through other comprehensive income | 825 | 1,200 | (375) | -31.25% | | **Total Revenue** | **23,370** | **24,213** | **(843)** | **-3.48%** | - The Group's revenue primarily comes from property leasing and property management, which executive directors consider as a single operating segment, thus no segment analysis is performed[15](index=15&type=chunk) - Revenue is derived solely from Hong Kong, and non-current assets are mainly located in Hong Kong[15](index=15&type=chunk) [Other Income](index=7&type=section&id=Other%20Income) Other income significantly decreased due to the absence of loan interest income and reductions in bank interest and management service fees Other Income Composition (For the Six Months Ended June 30) | Income Source | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Bank interest income | 1,267 | 2,398 | (1,131) | -47.16% | | Loan interest income | – | 2,236 | (2,236) | -100.00% | | Interest income from other receivables | 137 | 149 | (12) | -8.05% | | Management service fee income from intermediate holding company | 380 | 610 | (230) | -37.70% | | Management service fee income from fellow subsidiaries | 221 | 210 | 11 | 5.24% | | Others | 607 | 900 | (293) | -32.56% | | **Total Other Income** | **2,612** | **6,503** | **(3,891)** | **-59.83%** | - Total other income significantly decreased by **59.83%**, mainly due to the absence of loan interest income and reductions in bank interest income and management service fee income from the intermediate holding company[16](index=16&type=chunk) [Other Gains (Losses)](index=7&type=section&id=Other%20Gains%20(Losses)) The Group recorded a net exchange gain for the period, a reversal from the prior year's loss Net Exchange Gains (Losses) (For the Six Months Ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Net exchange gains (losses) | 686 | (4) | 690 | - A net exchange gain of **HK$686 thousand** was recorded for the current period, compared to a loss of **HK$4 thousand** in the prior period[17](index=17&type=chunk) [Income Tax (Credit) Expense](index=8&type=section&id=Income%20Tax%20(Credit)%20Expense) The Group's income tax shifted from an expense to a credit, primarily due to an increase in deferred tax credit Income Tax (Credit) Expense (For the Six Months Ended June 30) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Hong Kong income tax | 550 | 2,040 | (1,490) | | Over-provision in prior years - Hong Kong income tax | – | (18) | 18 | | Deferred tax | (1,892) | (733) | (1,159) | | **Income tax (credit) expense for the period** | **(1,342)** | **1,289** | **(2,631)** | - Income tax for the period shifted from an expense of **HK$1,289 thousand** last year to a credit of **HK$1,342 thousand**, mainly due to an increase in deferred tax credit[18](index=18&type=chunk) [Loss for the Period](index=8&type=section&id=Loss%20for%20the%20Period) This section details the components contributing to the loss for the period, including increased direct operating expenses for investment properties Loss for the Period Items Deducted (For the Six Months Ended June 30) | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Depreciation of property, plant and equipment | 33 | 48 | | Direct operating expenses for investment properties that generated rental income | 8,284 | 4,540 | | Direct operating expenses for investment properties that did not generate rental income | 2,837 | 2,201 | - Direct operating expenses for investment properties that generated rental income significantly increased year-on-year, from **HK$4,540 thousand** to **HK$8,284 thousand**[18](index=18&type=chunk) [Loss Per Share](index=9&type=section&id=Loss%20Per%20Share) Basic loss per share significantly increased, reflecting a deterioration in the Group's profitability Loss Per Share Calculation (For the Six Months Ended June 30) | Indicator | 2025 (HK$ thousand/share) | 2024 (HK$ thousand/share) | | :--- | :--- | :--- | | Loss for the period attributable to owners of the Company | (63,263) | (17,037) | | Number of ordinary shares (thousand shares) | 1,240,669 | 1,240,669 | | **Basic Loss Per Share (HK cents)** | **(5.10)** | **(1.37)** | - Basic loss per share increased from **1.37 HK cents** in 2024 to **5.10 HK cents** in 2025, reflecting a deterioration in profitability[20](index=20&type=chunk) - Diluted loss per share is not presented as there are no potential ordinary shares outstanding[21](index=21&type=chunk) [Dividends](index=9&type=section&id=Dividends) The Board resolved not to declare any interim dividend for the period ended June 30, 2025 - The Board resolved not to declare any interim dividend for the six months ended June 30, 2025 (2024: nil)[22](index=22&type=chunk) [Trade and Other Receivables, Prepayments and Deposits](index=9&type=section&id=Trade%20and%20Other%20Receivables,%20Prepayments%20and%20Deposits) Total trade and other receivables, prepayments, and deposits increased, primarily driven by a rise in trade receivables Trade and Other Receivables, Prepayments and Deposits (As at June 30) | Item | 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Trade receivables | 4,946 | 3,777 | 1,169 | 30.95% | | Other receivables | 9,130 | 6,557 | 2,573 | 39.24% | | Prepayments and deposits | 2,254 | 2,360 | (106) | -4.49% | | **Total** | **16,330** | **12,694** | **3,636** | **28.64%** | - Total trade and other receivables increased by **28.64%**, with trade receivables (rental receivables) increasing by **30.95%**, and receivables aged 61-90 days rising from zero to **HK$1,066 thousand**[23](index=23&type=chunk)[25](index=25&type=chunk) [Payables and Accrued Expenses](index=10&type=section&id=Payables%20and%20Accrued%20Expenses) Total payables and accrued expenses decreased, mainly due to a significant reduction in other payables Payables and Accrued Expenses (As at June 30) | Item | 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Trade payables | 702 | 371 | 331 | 89.22% | | Other payables | 6,459 | 13,922 | (7,463) | -53.61% | | Tenant deposits | 15,670 | 14,396 | 1,274 | 8.85% | | Accrued operating expenses | 3,474 | 3,463 | 11 | 0.32% | | **Total** | **26,305** | **32,152** | **(5,847)** | **-18.19%** | - Total payables and accrued expenses decreased by **18.19%**, primarily due to a significant **53.61%** reduction in other payables[26](index=26&type=chunk) - Trade payables increased by **89.22%** year-on-year[26](index=26&type=chunk) [Management Discussion and Analysis](index=11&type=section&id=Management%20Discussion%20and%20Analysis) Management reviews the financial results and business operations, attributing the expanded loss to fair value changes in investment properties, while expressing optimism for future liquidity through new mall operations and funding support [Financial Results](index=11&type=section&id=Financial%20Results) The Group's revenue slightly decreased, and the loss for the period significantly increased, primarily due to fair value losses on investment properties - For the six months ended June 30, 2025, the Group's revenue was **HK$23,370,000**, a decrease of approximately **3%** year-on-year[27](index=27&type=chunk) - The loss for the period was **HK$63,263,000**, a significant increase from **HK$17,037,000** in the prior period, mainly due to a net decrease in fair value of investment properties from **HK$12,790,000** to **HK$60,047,000**[27](index=27&type=chunk) [Business Review](index=11&type=section&id=Business%20Review) The Group primarily operates in property investment, leasing, and management in Hong Kong, with a new shopping mall expected to commence operations in the second half of 2025 - The Group primarily engages in property investment, property leasing, and property management businesses in Hong Kong[28](index=28&type=chunk) - Commercial properties at Grand Crystal Centre maintained an average occupancy rate of approximately **90%**, showing satisfactory rental income performance[28](index=28&type=chunk) - Renovation of the shopping mall "The Link" (formerly "Concord Plaza") has been completed, with active tenant recruitment underway, and operations are expected to commence in the second half of 2025[28](index=28&type=chunk) [Financial Review](index=12&type=section&id=Financial%20Review) This section provides an overview of the Group's assets, liabilities, liquidity, and funding, highlighting changes in financial position and debt ratios [Group's Assets and Pledges](index=12&type=section&id=Group's%20Assets%20and%20Pledges) Total assets and net assets decreased, while bank borrowings significantly increased Assets and Pledges Key Data | Indicator | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total assets | 2,372,816 | 2,431,092 | (58,276) | -2.40% | | Net assets | 1,676,076 | 1,742,069 | (65,993) | -3.79% | | Carrying value of pledged investment properties | 1,269,000 | 1,294,000 | (25,000) | -1.93% | | Bank borrowings | 180,000 | 100,000 | 80,000 | 80.00% | - Total assets and net assets both decreased, while bank borrowings significantly increased by **80%**[29](index=29&type=chunk) [Group's Financial Position, Liquidity and Funding](index=12&type=section&id=Group's%20Financial%20Position,%20Liquidity%20and%20Funding) Total liabilities slightly increased, cash and bank deposits decreased, and the gearing ratio rose, with available funding from the intermediate holding company Financial Position, Liquidity and Funding Key Data | Indicator | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total liabilities | 696,740 | 689,023 | 7,717 | 1.12% | | Cash and bank deposits | 49,047 | 68,355 | (19,308) | -28.25% | | Total Liabilities to Total Assets Ratio | 29% | 28% | 1% | - | | Other borrowings (non-current) | 350,000 | 415,000 | (65,000) | -15.66% | | Bank loans (current) | 180,000 | 100,000 | 80,000 | 80.00% | | Total equity | 1,676,076 | 1,742,069 | (65,993) | -3.79% | | Gearing Ratio (Net Debt to Total Equity) | 29% | 26% | 3% | - | - Total liabilities slightly increased, cash and bank deposits decreased, and the gearing ratio rose from **26%** to **29%**[30](index=30&type=chunk) - The Group holds **HK$250,000,000** in unused financing facilities from its intermediate holding company to maintain flexible and sufficient cash flow[31](index=31&type=chunk) [Significant Lending Transactions](index=13&type=section&id=Significant%20Lending%20Transactions) The Group utilizes financial resources through loan note subscriptions and lending to enhance shareholder returns, ensuring sufficient working capital - The Group effectively utilizes financial resources through subscribing to loan notes and granting loans to enhance shareholder returns[32](index=32&type=chunk) - During the period, the Group did not grant any loans to borrowers[32](index=32&type=chunk) - The Group ensures sufficient working capital after resource allocation[33](index=33&type=chunk) [Significant Acquisitions and Disposals](index=13&type=section&id=Significant%20Acquisitions%20and%20Disposals) There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period - For the six months ended June 30, 2025, and up to the date of this announcement, the Group had no significant acquisitions or disposals of subsidiaries, associates, or joint ventures[34](index=34&type=chunk) [Significant Investments](index=13&type=section&id=Significant%20Investments) As of June 30, 2025, the Group held no significant investments exceeding 5% of total assets - As of June 30, 2025, the Group had no significant investments exceeding **5%** of total assets[35](index=35&type=chunk) [Contingent Liabilities](index=14&type=section&id=Contingent%20Liabilities) The Group had no significant contingent liabilities as of June 30, 2025 - The Group had no significant contingent liabilities as of June 30, 2025[36](index=36&type=chunk) [Events After Reporting Period](index=14&type=section&id=Events%20After%20Reporting%20Period) No significant events affecting the Group occurred after the reporting period and up to the date of this announcement - No significant events affecting the Group occurred after the end of the reporting period and up to the date of this announcement[37](index=37&type=chunk) [Employees](index=14&type=section&id=Employees) The Group's employee count slightly increased, with all staff employed in Hong Kong and compensated based on market rates and performance Number of Employees | Date | Number of Employees | | :--- | :--- | | June 30, 2025 | 31 | | December 31, 2024 | 30 | - The Group's employee count slightly increased, with all employees hired in Hong Kong, and remuneration packages are competitive with market rates and performance-based[38](index=38&type=chunk) - Employees in Hong Kong are provided with medical insurance and Mandatory Provident Fund contributions[39](index=39&type=chunk) [Business Outlook](index=14&type=section&id=Business%20Outlook) The Hong Kong retail property leasing market remains challenging, with the Group adopting a cautious yet opportunistic strategy focused on operational efficiency and financial discipline - The Hong Kong retail property leasing market remains challenging in 2025, with rental prices and occupancy rates under continuous pressure, despite recent year-on-year growth in sales value[40](index=40&type=chunk) - The "The Link" shopping mall is expected to open in the second half of 2025, having attracted diverse tenants, but leasing success still depends on securing key tenant commitments in a competitive environment[40](index=40&type=chunk) - Macroeconomic growth has not yet translated into substantial improvements in retail property fundamentals, and the benefits of monetary policy adjustments to the retail leasing market may be slow to materialize[40](index=40&type=chunk) - The Group will maintain a cautious yet opportunistic strategy, focusing on operational efficiency and selective capital allocation, with financial discipline as a priority[41](index=41&type=chunk) [Corporate Governance and Other Information](index=15&type=section&id=Corporate%20Governance%20and%20Other%20Information) The Board decided against an interim dividend and disclosed certain deviations from the Corporate Governance Code regarding the terms of reference for the Remuneration and Audit Committees [Interim Dividend](index=15&type=section&id=Interim%20Dividend) The Board deemed it prudent to retain funds for future business development opportunities, thus not recommending an interim dividend - The Board considers it prudent to retain an appropriate level of funds to seize future business development opportunities, thus not recommending an interim dividend for the six months ended June 30, 2025 (2024: nil)[42](index=42&type=chunk) [Compliance with Corporate Governance Code](index=15&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) The Company generally complied with the Corporate Governance Code, with noted deviations concerning the scope of the Remuneration and Audit Committees' terms of reference - The Company has applied and complied with the Corporate Governance Code set out in Appendix C1 to the Listing Rules, with certain deviations[43](index=43&type=chunk) - The terms of reference for the Remuneration Committee only recommend to the Board the remuneration packages of executive directors (excluding senior management), which deviates from Code Provision E.1.2[43](index=43&type=chunk) - The terms of reference for the Audit Committee deviate from Code Provision D.3.3 in areas such as recommending rather than appointing external auditors, monitoring rather than ensuring risk management and internal controls, promoting rather than ensuring coordination between internal and external auditors, and reviewing rather than ensuring the adequacy of internal audit function resources[44](index=44&type=chunk) - The Board believes the Remuneration Committee and Audit Committee should continue to operate under their existing terms of reference, which will be reviewed at least annually[45](index=45&type=chunk) [Review by Audit Committee](index=16&type=section&id=Review%20by%20Audit%20Committee) The Audit Committee reviewed the Group's accounting principles and financial reporting, relying on the external auditor's review rather than a detailed independent audit - The Audit Committee has reviewed the accounting principles and practices adopted by the Group and discussed matters related to internal controls and financial reporting[46](index=46&type=chunk) - The Audit Committee relied on the external auditor's review conducted in accordance with Hong Kong Standard on Review Engagements 2410 and management's report, without conducting a detailed independent audit[46](index=46&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=16&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20Listed%20Securities) Neither the Company nor its subsidiaries repurchased, sold, or redeemed any of the Company's listed securities during the reporting period - Neither the Company nor any of its subsidiaries repurchased, sold, or redeemed any of the Company's listed securities during the six months ended June 30, 2025[47](index=47&type=chunk) [Board Information](index=16&type=section&id=Board%20Information) As of the announcement date, the Board comprises executive directors Mr. Li Sing Wai (Chairman), Mr. Li Shu Yin (CEO), Mr. Lo King Yau, and Mr. To Chan Sang, along with independent non-executive directors Mr. Li Chak Hung, Ms. Yeung Lai Sum, and Mr. Cheng Tsz Kin - As of the announcement date, the Board comprises executive directors Mr. Li Sing Wai (Chairman), Mr. Li Shu Yin (Chief Executive Officer), Mr. Lo King Yau, and Mr. To Chan Sang, as well as independent non-executive directors Mr. Li Chak Hung, Ms. Yeung Lai Sum, and Mr. Cheng Tsz Kin[49](index=49&type=chunk)

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。 ORIENT OVERSEAS (INTERNATIONAL) LIMITED 東方海外（國際）有限公司* （於百慕達註冊成立之成員有限責任公司） （股份代號: 316） 2025 年 6 月 30 日止 6 個月 中期業績公佈 東方海外（國際）有限公司（「本公司」或「東方海外國際」）董事會宣佈本公司及其附屬公司 （「本集團」）截至 2025 年 6 月 30 日止 6 個月之未經審核中期業績如下。以下財務資料包括下文 載列本集團 2025 年 6 月 30 日的未經審核簡明綜合資產負債表與截至該日止 6 個月期間的未經審核 簡明綜合損益表、未經審核簡明綜合全面收益表、未經審核簡明綜合現金流量表和未經審核簡明 綜合權益變動表及其附註 1 至 21 均摘錄自中期財務資料。本公司之獨立核數師信永中和（香港） 會計師事務所有限公司已按照香港會計師公會頒佈的香港審閱聘用準則第 2410 號「公司獨立核數 師審閱 ...

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。 China Aluminum Cans Holdings Limited 中國鋁罐控股有限公司 – 2 – （於開曼群島註冊成立之有限公司） （股份代號：6898） 截至二零二 五 年六月三十日止六個月的 中期業績公告 中期業績 中國鋁罐控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其 附屬公司（統稱「本集團」）截至二零二五年六月三十日止六個月的未經審核簡明綜合 財務業績，連同截至二零二四年六月三十日止六個月的比較數字。該等業績經本集 團外聘核數師安永會計師事務所及本公司轄下審核委員會（「審核委員會」）審閱。 – 1 – 中期簡明綜合損益及其他全面收益表 截至二零二五年六月三十日止六個月 | | 附註 | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | | 千港元 | 千港元 | | | | （未經審核）（未經審核） | | | 收益 ...

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依賴該等內容而 引致之任何損失承擔任何責任。 WING TAI PROPERTIES LIMITED 永泰地產有限公司 （於百慕達註冊成立之有限公司） （股份代號：369） 截至二零二五年六月三十日止六個月之 中期業績、中期股息及記錄日期公告 主席報告 在此背景下，隨著股市回暖及香港銀行同業拆息（「HIBOR」）下降，住宅物業銷售有所增長，但價 格仍然受壓。同時，甲級寫字樓租金因供應量高及需求疲弱而持續承壓，預計疲弱的市況將持續至本 地經濟出現明顯復甦為止。 因應獨立估值反映香港物業價值面臨下行壓力，本集團錄得投資物業的估值虧損淨額及發展中物業的 減值撥備總額為 1,268,000,000 港元（二零二四年：1,352,000,000 港元）。計入金融工具的估值虧損 淨額 27,000,000 港元（二零二四年：17,000,000 港元），非現金估值虧損淨額合共為 1,295,000,000 港元（二零二四年：1,369,000,000 港元）。 ...

截至二零二五年六月三十日止六個月之中期業績公佈 六月三十日止六個月之中期業績公佈 陸氏集團(越南控股)有限公司（「本公司」）董事會欣然宣佈截至二零二五年六月三十日止六個月本公司及其附 屬公司（統稱「本集團」）之未經審核綜合中期業績連同二零二四年同期比較數字。此簡明綜合中期財務資料 為未經核數師審核，但已由本公司審核委員會審閱。 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文件的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本文件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。 LUKS GROUP (VIETNAM HOLDINGS) COMPANY LIMITED 陸 氏 集 團 （ 陸 氏 集 團 （ 越 南 控 股 越 南 控 股 越 南 控 股 ） 有 限 公 司 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：366） 1 綜合全面收益表 綜合全面收益表 截至二零二五年六月三十日止六個月 | | | 截至六月三十日止六個月 | | --- | --- | --- | | | 二零二五年 | 二零二四年 | | | (未經審核) ...

數盟資本國際控股集團有限公司 於 開 曼 群 島 註 冊 成 立 的 有 限責任 公 司 ） （股份代號：8375） 截至二零二五年六月三十日止六個月 中期業績公告 香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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倚賴該等內容而引致的任何損失承擔任何責任。 Data Union Capital International Holdings Group Limited 數盟資本國際控股集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）欣然宣佈本集團截至二零二五年六月三十日止六個月之未經審核簡明綜合 業績（「中期業績」）。中期業績未經本公司獨立核數師審閱或審核，惟已由董事會審核委 員會審閱。本公告列載本公司截至二零二五年六月三十日止六個月之中期報告全文（「中 期報告」），並符合香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）中有關 中期業績初步公告附載資料之相關規定。中期報告將適時按GEM上市規則規定之方式刊發， 並可於聯交所網站w ...

[Summary](index=1&type=section&id=Summary) The company reported a decrease in revenue and underlying recurring profit, with a smaller decline in reported profit due to reduced investment property fair value losses, and declared interim dividends - Revenue and underlying recurring profit decreased by **28.5%** and **26.6%** year-on-year, primarily due to reduced sales revenue from the healthcare business[2](index=2&type=chunk) - Reported profit decreased by **16.2%**, mainly due to lower non-cash fair value losses on investment properties recorded in the first half of 2025[2](index=2&type=chunk) - Declared an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share[2](index=2&type=chunk) Performance Summary for the Six Months Ended June 30, 2025 | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 94,734 | 132,468 | -28.5% | | Reported Profit | 39,743 | 47,407 | -16.2% | | Underlying Recurring Profit | 45,294 | 61,710 | -26.6% | | EPS (Reported Profit) | 12.8 HK cents | 15.2 HK cents | -15.8% | | EPS (Underlying Recurring Profit) | 14.5 HK cents | 19.8 HK cents | -26.8% | | Total Dividend Per Share | 8.0 HK cents | 9.5 HK cents | -15.8% | | Shareholders' Funds (Period End) | 704,177 | 731,908 | -3.8% | | NAV Per Share (Period End) | 2.26 HK$ | 2.35 HK$ | -3.8% | [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the condensed consolidated financial statements, highlighting a decline in revenue and profit, alongside changes in assets and shareholders' equity [Condensed Consolidated Statement of Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the company's revenue decreased by **28.5%** year-on-year, operating profit declined, but narrower investment property revaluation losses led to a **16.2%** decrease in profit attributable to owners of the company Key Data from Condensed Consolidated Statement of Comprehensive Income | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 94,734 | 132,468 | | Operating Profit Before Fair Value Changes | 53,978 | 75,186 | | Revaluation Deficit on Investment Properties | (7,090) | (14,784) | | Operating Profit | 48,427 | 60,883 | | Profit Before Tax | 48,015 | 60,443 | | Profit for the Period Attributable to Owners of the Company | 39,743 | 47,407 | | Total Comprehensive Income for the Period Attributable to Owners of the Company | 4,991 | 23,624 | [Condensed Consolidated Statement of Financial Position](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total assets slightly increased, but shareholders' funds and net asset value per share decreased, while net current assets grew, total liabilities also rose Key Data from Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current Assets | 455,719 | 504,113 | -9.6% | | Current Assets | 396,527 | 339,241 | +16.9% | | Current Liabilities | 61,286 | 20,887 | +193.4% | | Net Current Assets | 335,241 | 318,354 | +5.3% | | Net Assets | 704,177 | 731,908 | -3.8% | | Total Equity | 704,177 | 731,908 | -3.8% | [Notes to the Financial Statements](index=8&type=section&id=Notes%20to%20the%20Financial%20Statements) This section provides detailed notes on the financial statements, covering accounting policies, segment performance, income, expenses, taxation, dividends, and financial position details [Principal Accounting Policies](index=8&type=section&id=Principal%20Accounting%20Policies) Interim financial information is prepared under the historical cost convention, with investment properties, leasehold land and buildings, and financial assets at fair value through profit or loss measured at fair value, and new/revised HKFRSs adopted this period had no significant impact - Interim financial information is prepared under the historical cost convention, except for investment properties, leasehold land and buildings, and financial assets at fair value through profit or loss, which are measured at fair value[10](index=10&type=chunk) - The adoption of amendments to HKAS 21 "Lack of Exchangeability" had no significant impact on the Group's interim financial information[11](index=11&type=chunk) [Operating Segment Information](index=8&type=section&id=Operating%20Segment%20Information) The Group's operating segments are healthcare, property investment, and treasury investment, with management assessing performance based on segment results before income tax and unallocated finance costs [Business Segments](index=9&type=section&id=Business%20Segments) This section details the external sales revenue and segment results for the healthcare, property investment, and treasury investment business segments External Sales Revenue and Segment Results by Business Segment (Six Months Ended June 30, 2025) | Segment | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | Revenue Change (%) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | Results Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Healthcare | 86,724 | 123,442 | -29.7% | 52,386 | 76,974 | -31.9% | | Property Investment | 4,748 | 4,752 | -0.1% | (2,978) | (10,763) | +72.3% | | Treasury Investment | 3,262 | 4,274 | -23.7% | 7,427 | 4,194 | +77.1% | | Consolidated Total | 94,734 | 132,468 | -28.5% | 48,427 (Operating Profit) | 60,883 (Operating Profit) | -20.4% | Assets and Liabilities by Business Segment (As of June 30, 2025) | Segment | 2025 Assets (HK$ thousand) | 2024 Assets (HK$ thousand) | 2025 Liabilities (HK$ thousand) | 2024 Liabilities (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Healthcare | 370,710 | 360,292 | 16,051 | 12,578 | | Property Investment | 232,021 | 228,193 | 49,779 | 45,143 | | Treasury Investment | 247,120 | 248,616 | – | – | | Consolidated Total | 852,246 | 843,354 | 148,069 | 111,446 | [Geographical Information](index=11&type=section&id=Geographical%20Information) This section provides a breakdown of external sales revenue and operating results by geographical region External Sales Revenue and Operating Results by Region | Region | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | China | 71,764 | 100,588 | 37,518 | 51,567 | | Southeast Asia | 18,748 | 24,674 | 14,238 | 14,526 | | North America | 872 | 3,855 | 391 | 2,159 | | United Kingdom | 3,178 | 3,172 | 3,077 | 1,312 | | Europe (excluding UK) | – | – | 910 | 173 | | Other Regions | 172 | 179 | 103 | (45) | | Consolidated Total | 94,734 | 132,468 | 48,427 | 60,883 | [Other Income](index=11&type=section&id=Other%20Income) Other income, primarily from dividends on listed investments, slightly decreased from **HK$85 thousand** in 2024 to **HK$66 thousand** in 2025 Other Income Details | Source | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Dividend Income from Financial Assets | 67 | 84 | | Gain/(Loss) on Disposal of Financial Assets | (1) | 1 | | **Total** | **66** | **85** | [Net Other Gains and Profit Before Tax](index=12&type=section&id=Net%20Other%20Gains%20and%20Profit%20Before%20Tax) Miscellaneous gains decreased from **HK$290 thousand** in 2024 to **HK$158 thousand** in 2025, with profit before tax at **HK$48,015 thousand**, primarily influenced by finance costs and cost of inventories Net Other Gains and Profit Before Tax Related Data | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Miscellaneous Gains | 158 | 290 | | Finance Costs | 412 | 440 | | Cost of Inventories | 23,343 | 30,597 | | Profit Before Tax | 48,015 | 60,443 | [Taxation](index=13&type=section&id=Taxation) Total taxation decreased from **HK$13,036 thousand** in 2024 to **HK$8,272 thousand** in 2025, primarily due to reductions in Hong Kong profits tax and overseas taxation - Hong Kong profits tax operates under a two-tiered system, with an **8.25%** tax rate for the first **HK$2,000,000** of assessable profits for qualifying entities, and **16.5%** for the remainder[20](index=20&type=chunk) Taxation Expense Details | Tax Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong Profits Tax | 7,822 | 12,582 | | Overseas Taxation | 621 | 591 | | Deferred Tax | (171) | (137) | | **Total** | **8,272** | **13,036** | [Dividends](index=14&type=section&id=Dividends) The Board recommended a final dividend and a special final dividend for the year ended December 31, 2024, and declared an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share for the current period, totaling **HK$24,931 thousand**, lower than the prior period - Proposed a 2024 final dividend of **3.8 HK cents** per share and a special final dividend of **6.7 HK cents** per share[22](index=22&type=chunk) Dividends Attributable to the Period | Dividend Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interim Dividend (3.0 HK cents per share) | 9,349 | 9,349 | | Special Interim Dividend (5.0 HK cents per share) | 15,582 | 20,257 | | **Total** | **24,931** | **29,606** | [Earnings Per Share](index=14&type=section&id=Earnings%20Per%20Share) For the six months ended June 30, 2025, basic and diluted earnings per share were **12.8 HK cents**, down from **15.2 HK cents** in 2024, primarily due to a decrease in profit attributable to owners of the company Earnings Per Share Calculation | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit Attributable to Owners of the Company (HK$ thousand) | 39,743 | 47,407 | | Weighted Average Number of Ordinary Shares in Issue (shares) | 311,640,000 | 311,640,000 | | Basic and Diluted Earnings Per Share | 12.8 HK cents | 15.2 HK cents | [Trade and Other Receivables](index=15&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables significantly decreased to **HK$19,023 thousand** from **HK$33,217 thousand** on December 31, 2024, with trade receivables having credit terms ranging from **30 to 120 days** Details of Trade and Other Receivables | Item | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Receivables | 9,689 | 19,190 | | Bills Receivable | 5,922 | 9,529 | | Other Receivables | 3,412 | 4,498 | | **Total** | **19,023** | **33,217** | Ageing Analysis of Trade Receivables | Ageing | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 4,013 | 14,638 | | 31 – 60 days | 2,284 | 1,537 | | 61 – 90 days | 2,149 | 1,917 | | 91 – 120 days | 1,243 | 1,098 | | **Total** | **9,689** | **19,190** | [Trade and Other Payables](index=16&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables increased to **HK$16,500 thousand** from **HK$13,941 thousand** on December 31, 2024, primarily due to higher trade payables and accrued advertising and promotion expenses Details of Trade and Other Payables | Item | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Trade Payables | 3,586 | 1,444 | | Accrued Expenses and Other Payables | 4,768 | 6,610 | | Accrued Advertising and Promotion Expenses | 6,501 | 5,382 | | Accrued Rebates and Discounts | 1,645 | 505 | | **Total** | **16,500** | **13,941** | Ageing Analysis of Trade Payables | Ageing | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 3,558 | 1,054 | | 31 – 60 days | 11 | 373 | | 61 – 90 days | – | – | | Over 90 days | 17 | 17 | | **Total** | **3,586** | **1,444** | [Share Capital](index=17&type=section&id=Share%20Capital) As of June 30, 2025, the company's authorized share capital and issued and fully paid share capital remained unchanged at **600,000,000 shares (HK$30,000 thousand)** and **311,640,000 shares (HK$15,582 thousand)**, respectively Share Capital Structure | Type | Number of Shares | Amount (HK$ thousand) | | :--- | :--- | :--- | | Authorized Share Capital (HK$0.05 per share) | 600,000,000 | 30,000 | | Issued and Fully Paid Share Capital | 311,640,000 | 15,582 | [Pledge of Assets](index=17&type=section&id=Pledge%20of%20Assets_Notes) The Group's investment properties in the UK are pledged as security for bank facilities, with a carrying value of approximately **HK$113,678 thousand** as of June 30, 2025, and **HK$4,789 thousand** of bank facilities utilized - UK investment properties are pledged as security for bank facilities of **HK$58,103 thousand**, with **HK$4,789 thousand** utilized[28](index=28&type=chunk) Carrying Value of Pledged Assets | Item | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | | :--- | :--- | :--- | | Investment Properties | 113,678 | 102,854 | [Management Discussion and Analysis](index=18&type=section&id=Management%20Discussion%20and%20Analysis) This section provides a comprehensive review of the Group's business performance and financial position, analyzing key operational and financial metrics, and discussing various risk factors and policies [Business Review](index=18&type=section&id=Business%20Review) Amid a cautious global economic environment, the Group's total revenue decreased by **28.5%** year-on-year, primarily due to a weak healthcare segment and reduced treasury investment interest income, with both reported and underlying recurring profits declining, though partially offset by lower investment property fair value losses [Performance Summary](index=18&type=section&id=Performance%20Summary) This section provides an overview of the Group's financial performance, highlighting the impact of global economic uncertainties on revenue and profit - The global economic environment remains cautious, with geopolitical uncertainties and high interest rates continuously impacting borrowing costs, investment activities, and consumer spending patterns[31](index=31&type=chunk) Revenue Changes by Business Segment | Segment | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Healthcare | 86,724 | 123,442 | -29.7 | | Property Investment | 4,748 | 4,752 | – | | Treasury Investment | 3,262 | 4,274 | -23.7 | | **Total** | **94,734** | **132,468** | **-28.5** | Reconciliation of Underlying Recurring Profit to Reported Profit | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Underlying Recurring Profit | 45,294 | 61,710 | -26.6 | | Fair Value Changes of Financial Assets | 1,539 | 481 | | | Fair Value Changes of Investment Properties | (7,090) | (14,784) | | | **Reported Profit** | **39,743** | **47,407** | **-16.2** | [Operational Review - Healthcare](index=20&type=section&id=Operational%20Review%20-%20Healthcare) This section reviews the healthcare segment's performance, detailing revenue and results by region, and strategic initiatives in China and North America Healthcare Segment Revenue and Results by Region | Region | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | Revenue Change (%) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | Results Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | China (including Mainland China, Hong Kong & Macau) | 67,687 | 95,660 | -29.2 | 52,386 (Segment Profit) | 76,974 (Segment Profit) | -31.9 | | Southeast Asia | 17,993 | 24,108 | -25.4 | | | | | North America | 872 | 3,495 | -75.1 | | | | | Other Regions | 172 | 179 | -3.9 | | | | | **Segment Revenue** | **86,724** | **123,442** | **-29.7** | | | | - Sales revenue in Mainland China remained largely stable, with the company expanding its e-commerce initiatives and investing in brand building to enhance online presence[36](index=36&type=chunk) - North American sales were affected by tariff uncertainties, leading the company to adopt a cautious sales strategy, with sales expected to remain stable in the second half[38](index=38&type=chunk) [Operational Review - Property Investment](index=21&type=section&id=Operational%20Review%20-%20Property%20Investment) This section reviews the property investment segment's performance, including revenue and results by region, occupancy rates, and improvements in property expense ratios Property Investment Segment Revenue and Results by Region | Region | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | Revenue Change (%) | 2025 Results (HK$ thousand) | 2024 Results (HK$ thousand) | Results Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hong Kong – Office and Residential | 1,591 | 1,723 | -7.7 | (2,978) (Segment Loss) | (10,763) (Segment Loss) | +72.3 | | Singapore – Industrial | 171 | 158 | +8.2 | | | | | United Kingdom – Retail/Residential | 2,986 | 2,871 | +4.0 | | | | | **Segment Revenue** | **4,748** | **4,752** | **–** | | | | - Occupancy rates for investment properties in Hong Kong, Singapore, and the UK were **100.0%**, **100.0%**, and **100.0%**, respectively[39](index=39&type=chunk) - Underlying recurring segment results slightly increased by **2.3%** to **HK$4,100 thousand**, with the property expense ratio decreasing to **13.4%**, reflecting improved management[40](index=40&type=chunk) [Operational Review - Treasury Investment](index=22&type=section&id=Operational%20Review%20-%20Treasury%20Investment) This section reviews the treasury investment segment's performance, noting a decrease in income due to lower bank deposit rates and a reconciliation of underlying recurring segment results to segment profit - Treasury investment segment revenue decreased by **23.7%** to **HK$3,300 thousand**, primarily due to a gradual decline in bank deposit interest rates[42](index=42&type=chunk) Reconciliation of Treasury Investment Underlying Recurring Segment Results to Segment Profit | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Underlying Recurring Segment Results | 5,888 | 3,713 | +58.6 | | Unrealized Fair Value Changes of Financial Assets | 1,539 | 481 | | | **Segment Results – Profit** | **7,427** | **4,194** | **+77.1** | [Financial Review](index=23&type=section&id=Financial%20Review) This section provides a detailed review of key financial and operational aspects, including staff costs, other operating expenses, finance costs, taxation, investment property valuation, financial resources, exchange rate risk, asset pledges, contingent liabilities, future investment plans, and employee and remuneration policies [Staff Costs](index=23&type=section&id=Staff%20Costs) Staff costs increased due to annual salary growth and long service payment provisions, partially offset by reduced executive director management bonus provisions - Staff costs increased by **5.9%** to **HK$22,100 thousand**, primarily reflecting annual salary increments and long service payment provisions, partially offset by reduced executive director management bonus provisions[45](index=45&type=chunk) [Other Operating Expenses](index=23&type=section&id=Other%20Operating%20Expenses) Other operating expenses decreased, mainly due to reduced advertising and promotion expenses, though their ratio to total revenue increased - Other operating expenses decreased by **22.9%** to **HK$10,800 thousand**, primarily due to reduced advertising and promotion expenses[46](index=46&type=chunk) - The ratio of other operating expenses to total revenue increased to **11.4%** (2024: **10.6%**)[46](index=46&type=chunk) [Finance Costs](index=23&type=section&id=Finance%20Costs) Finance costs decreased due to lower interest rates, but the interest coverage ratio declined - Finance costs decreased by **6.4%** to **HK$410 thousand**, reflecting the impact of lower interest rates during the period[47](index=47&type=chunk) - The interest coverage ratio decreased to **131.0 times** (2024: **170.9 times**)[47](index=47&type=chunk) [Taxation](index=23&type=section&id=Taxation_Financial%20Review) Taxation decreased primarily due to a reduction in the overall assessable operating profit of subsidiaries - Taxation decreased from **HK$13,000 thousand** to **HK$8,300 thousand**, primarily due to a reduction in the overall assessable operating profit of subsidiaries[48](index=48&type=chunk) [Investment Properties](index=24&type=section&id=Investment%20Properties) The investment property portfolio valuation slightly increased, influenced by a stronger British Pound and weaker Hong Kong market conditions, while unrealized fair value losses decreased - Investment property portfolio valuation slightly increased by **1.6%** to **HK$230,800 thousand**[49](index=49&type=chunk) - A stronger British Pound boosted the translated value of UK properties, while weak Hong Kong market conditions dragged down local asset values[49](index=49&type=chunk) Investment Property Valuation by Region | Region | June 30, 2025 (HK$ thousand) | December 31, 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Hong Kong – Office and Residential | 104,390 | 111,480 | -6.4 | | Singapore – Industrial | 12,706 | 12,706 | – | | United Kingdom – Retail/Residential | 113,678 | 102,854 | +10.5 | | **Total** | **230,774** | **227,040** | **+1.6** | - Unrealized fair value losses on investment properties decreased by **52.0%** to **HK$7,100 thousand**[49](index=49&type=chunk) [Financial Resources and Treasury Policy](index=24&type=section&id=Financial%20Resources%20and%20Treasury%20Policy) This section outlines the Group's capital gearing ratio and liquidity ratio, reflecting its financial leverage and short-term solvency - Capital gearing ratio was **0.7%** (December 31, 2024: **0.6%**)[50](index=50&type=chunk) - Current ratio decreased to **6.5 times** (December 31, 2024: **16.2 times**)[50](index=50&type=chunk) [Exchange Rate Risk](index=25&type=section&id=Exchange%20Rate%20Risk) The Group faces foreign exchange risk from overseas securities investments, bank balances, and UK investment properties - Foreign exchange risk related to overseas securities investments and bank balances totaled approximately **HK$70,200 thousand**, representing about **8.2%** of the Group's total assets[51](index=51&type=chunk) - There is approximately **HK$108,900 thousand** of foreign exchange risk from the carrying value of investment properties in the UK[51](index=51&type=chunk) [Pledge of Assets](index=25&type=section&id=Pledge%20of%20Assets_Financial%20Review) UK investment properties with a significant carrying value are pledged as security for bank facilities - UK investment properties with a total carrying value of approximately **HK$113,700 thousand** are pledged as security for bank facilities of approximately **HK$58,100 thousand**[52](index=52&type=chunk) [Contingent Liabilities](index=25&type=section&id=Contingent%20Liabilities) As of the reporting date, the Group has no significant legal proceedings or claims that could result in material financial loss - As of June 30, 2025, there were no legal proceedings initiated by any third party against the Group, nor any pending claims that could result in significant financial loss to the Group[53](index=53&type=chunk) [Plans for Future Material Investments or Acquisitions of Capital Assets](index=25&type=section&id=Plans%20for%20Future%20Material%20Investments%20or%20Acquisitions%20of%20Capital%20Assets) The Group currently has no plans for any material investments or acquisitions of significant capital assets - The Group has no plans for any material investments or acquisitions of significant capital assets[54](index=54&type=chunk) [Employees and Remuneration Policy](index=25&type=section&id=Employees%20and%20Remuneration%20Policy) The Group had **100 employees** as of June 30, 2025, with remuneration reviewed annually based on market conditions and individual performance, including medical and education allowances - As of June 30, 2025, the Group had **100 employees** (December 31, 2024: **106 employees**)[55](index=55&type=chunk) - The Group annually reviews and determines employee and director remuneration packages based on market conditions and individual performance, providing medical and education allowances[55](index=55&type=chunk) [Outlook](index=26&type=section&id=Outlook) The Group maintains a cautious outlook for the second half of 2025 due to global uncertainties, anticipates challenges in healthcare, expects stable property contributions from the UK and Singapore, and will continue prudent treasury management - For the second half of 2025, the Group maintains a cautious outlook due to ongoing global uncertainties, interest rate impacts, and prudent consumer confidence in the operating environment[56](index=56&type=chunk) - The healthcare segment is expected to continue facing challenges in China, with the Group accelerating e-commerce initiatives and digital marketing to capture new demand[56](index=56&type=chunk) - The Hong Kong property market may remain under pressure, while UK and Singapore properties are expected to continue providing stable contributions[56](index=56&type=chunk) - The Group will continue to optimize returns through prudent treasury management, maintain a diversified investment portfolio, and prioritize capital preservation[56](index=56&type=chunk) [Other Information](index=26&type=section&id=Other%20Information) This section covers various other information, including interim dividend declarations, share transfer arrangements, securities transactions, corporate governance practices, and the composition of the Board and Audit Committee [Interim Dividends](index=26&type=section&id=Interim%20Dividends_Other%20Information) The Board declared an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share for the six months ended June 30, 2025, payable to shareholders on December 5, 2025 - The Directors resolved to declare an interim dividend of **3.0 HK cents** per share and a special interim dividend of **5.0 HK cents** per share for the six months ended June 30, 2025, payable to shareholders registered on October 6, 2025[57](index=57&type=chunk) - The interim dividend and special interim dividend will be dispatched to shareholders on December 5, 2025[57](index=57&type=chunk) [Closure of Register of Members](index=26&type=section&id=Closure%20of%20Register%20of%20Members) To qualify for the interim dividends, the company's share transfer registration will be suspended from October 2 to October 6, 2025, with all transfer forms to be lodged by 4:30 p.m. on September 30, 2025 - The company's register of members will be closed from Thursday, October 2, 2025, to Monday, October 6, 2025 (both days inclusive)[58](index=58&type=chunk) - To qualify for the interim dividend and special interim dividend, all duly completed transfer forms, together with the relevant share certificates, must be lodged by 4:30 p.m. on Tuesday, September 30, 2025[58](index=58&type=chunk) [Arrangements for Purchase of Shares or Debentures](index=26&type=section&id=Arrangements%20for%20Purchase%20of%20Shares%20or%20Debentures) During the period, neither the company nor its subsidiaries entered into any arrangements enabling directors to acquire benefits by purchasing shares or debentures of the company or any other body corporate - At no time during the period did the company or any of its subsidiaries enter into any arrangements that would enable the directors of the company to acquire benefits by means of the purchase of shares or debentures of the company or any other body corporate[59](index=59&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=27&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed shares - During the period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed shares[60](index=60&type=chunk) [Corporate Governance](index=27&type=section&id=Corporate%20Governance) The company adopted the Corporate Governance Code in Appendix C1 of the Listing Rules, and while the Chairman and Chief Executive roles are held by the same individual, the Board believes sufficient balance of power and safeguards are in place and will be regularly reviewed - The company adopted the Corporate Governance Code set out in Appendix C1 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as its own corporate governance code[61](index=61&type=chunk) - The roles of Chairman and Chief Executive Officer are performed by the same individual, but the Board believes there is sufficient balance of power and safeguards, which will be regularly reviewed and monitored[61](index=61&type=chunk) [Standard Code for Securities Transactions by Directors](index=27&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The company adopted the Model Code for Securities Transactions by Directors of Listed Issuers in Appendix C3 of the Listing Rules and confirmed that all directors complied with it during the period - The company adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules as its own code of conduct regarding directors' securities transactions[62](index=62&type=chunk) - Following specific enquiries made to all directors, the directors have confirmed that they complied with the standards set out in the Model Code for the six months ended June 30, 2025[62](index=62&type=chunk) [Audit Committee](index=27&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors, reviewed the company's interim financial information, which was also reviewed by the auditor, RSM Hong Kong, and an unmodified report was issued - The company's Audit Committee comprises three independent non-executive directors and meets at least twice a year[63](index=63&type=chunk) - The Audit Committee has reviewed the company's interim financial information for the six months ended June 30, 2025, which was also reviewed by the company's auditor, RSM Hong Kong, and an unmodified review report was issued[63](index=63&type=chunk) [Board of Directors](index=28&type=section&id=Board%20of%20Directors) As of the announcement date, the Board of Directors comprises three executive directors, one non-executive director, and three independent non-executive directors - As of the announcement date, the company's Board of Directors includes: (i) three executive directors, Mr. Ngan Wai Shun, Mr. Ngan Fook Wah, and Mr. Ngan Ching Fai; (ii) one non-executive director, Ms. Ngan Fook Yin; and (iii) three independent non-executive directors, Mr. Leung Man Chiu, Mr. Dell'Orto Renato, and Mr. Chan Chi Chung[64](index=64&type=chunk)

Company Information and Report Statement [Report Statement and Company Overview](index=1&type=section&id=Company%20Information%20and%20Report%20Statement) This report presents the unaudited condensed consolidated interim results of China Yurun Food Group Limited for the six months ended June 30, 2025, which has been reviewed by the company's Audit Committee - This report presents the unaudited condensed consolidated interim results of China Yurun Food Group Limited for the six months ended June 30, 2025[2](index=2&type=chunk)[3](index=3&type=chunk) - The report has been reviewed by the company's Audit Committee[3](index=3&type=chunk) Financial Statements [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the company experienced a significant decline in revenue, with both loss for the period and total comprehensive income expanding Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Key Data | Indicator | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 255,353 | 538,975 | -52.6% | | Cost of sales | (196,967) | (463,472) | -57.5% | | Gross profit | 58,386 | 75,503 | -22.7% | | Results from operating activities | 3,755 | 11,606 | -67.6% | | Loss before income tax | (15,203) | (13,236) | +14.9% | | Loss for the period | (15,207) | (13,191) | +15.3% | | Loss attributable to owners of the Company | (10,803) | (10,069) | +7.3% | | Total comprehensive income for the period | (21,591) | (48,120) | -55.1% | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's non-current assets slightly decreased, current assets declined, and both net current liabilities and net liabilities expanded, indicating continued financial pressure Condensed Consolidated Statement of Financial Position Key Data | Indicator | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | 234,976 | 238,720 | -1.6% | | Current assets | 386,352 | 406,233 | -4.9% | | Current liabilities | 1,288,795 | 1,278,594 | +0.8% | | Net current liabilities | (902,443) | (872,361) | +3.4% | | Net liabilities | (729,187) | (707,596) | +3.0% | | Cash and cash equivalents | 20,694 | 40,983 | -49.5% | | Bank borrowings (total) | 437,710 | 443,611 | -1.3% | [Condensed Consolidated Statement of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, operating, investing, and financing activities all showed net cash outflows, leading to a significant decrease in cash and cash equivalents Condensed Consolidated Statement of Cash Flows Key Data | Indicator | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | (5,236) | (33) | | Net cash used in investing activities | (312) | (5,882) | | Net cash used in financing activities | (13,930) | (1,469) | | Net decrease in cash and cash equivalents | (19,478) | (7,384) | | Cash and cash equivalents at June 30 | 20,694 | 31,666 | Notes to the Financial Statements [Basis of Preparation and Going Concern](index=6&type=section&id=1%20Basis%20of%20Preparation) The company's interim financial report is prepared in accordance with International Accounting Standards, but faces significant going concern uncertainties, including net losses, expanded net current liabilities and net liabilities, and substantial overdue and defaulted bank borrowings; management has proposed several plans to alleviate liquidity pressure, but the effectiveness of going concern depends on the successful implementation of these plans - The Group recorded a net loss of **HKD 15,207,000**, with net current liabilities and net liabilities reaching **HKD 902,443,000** and **HKD 729,187,000** respectively[9](index=9&type=chunk) - Certain bank borrowings of **HKD 348,827,000** along with accrued interest of **HKD 271,858,000** are overdue, and loan covenants have not been met, leading to legal proceedings initiated by banks[10](index=10&type=chunk) - Management plans to improve the financial position by negotiating updated financing terms with banks, seeking consolidated restructuring for final settlement, and obtaining additional new financing, but significant uncertainties exist regarding going concern[11](index=11&type=chunk)[12](index=12&type=chunk) [Changes in Accounting Policies](index=7&type=section&id=2%20Changes%20in%20Accounting%20Policies) The adoption of new or revised International Financial Reporting Standards in the current period had no significant impact on the interim financial report - The adoption of new or revised International Financial Reporting Standards had no significant impact on the interim financial report[13](index=13&type=chunk) [Revenue and Segment Information](index=8&type=section&id=3%20Revenue%20and%20Segment%20Information) The Group's main businesses are divided into chilled and frozen meat and processed meat products segments; in the first half of 2025, external revenue from both segments significantly decreased, leading to a 52.6% year-on-year reduction in total revenue - The Group's reportable segment information is divided into chilled and frozen meat and processed meat products[14](index=14&type=chunk) [Segment Results](index=8&type=section&id=3(a)%20Segment%20Results) External revenue from both the chilled and frozen meat segment and the processed meat products segment significantly declined, leading to a substantial decrease in total reportable segment revenue and results Segment Results Key Data | Segment | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Chilled and frozen meat external revenue | 69,781 | 312,426 | -77.7% | | Processed meat products external revenue | 185,572 | 226,549 | -18.1% | | Total reportable segment revenue | 255,353 | 538,975 | -52.6% | | Reportable segment results | 9,812 | 17,679 | -44.5% | [Reportable Segment Revenue and Loss](index=9&type=section&id=3(b)%20Reportable%20Segment%20Revenue%20and%20Loss) The Group's consolidated revenue significantly decreased year-on-year, and the consolidated loss for the period expanded, primarily due to net finance costs and unallocated head office and corporate expenses Reportable Segment Revenue and Loss Key Data | Indicator | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Consolidated revenue | 255,353 | 538,975 | | Reportable segment profit before tax | 9,812 | 17,679 | | Net finance costs | (18,958) | (24,842) | | Income tax (expense) / credit | (4) | 45 | | Unallocated head office and corporate expenses | (6,057) | (6,073) | | Consolidated loss for the period | (15,207) | (13,191) | [Other Net (Losses) / Income](index=9&type=section&id=4%20Other%20Net%20(Losses)%20%2F%20Income) In the first half of 2025, the Group shifted from net income to net loss, primarily due to an increase in other expenses Other Net (Losses) / Income Details | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Government grants | – | 468 | | Gain on disposal of property, plant and equipment | – | 2,031 | | Rental income | 132 | 56 | | Sales of scrap materials | 135 | 235 | | Other expenses | (2,431) | (981) | | **Other net (losses) / income** | **(2,164)** | **1,809** | [Loss Before Income Tax](index=10&type=section&id=5%20Loss%20Before%20Income%20Tax) Loss before income tax is primarily affected by net finance costs, staff costs, and cost of inventories - Loss before income tax has been arrived at after charging / (crediting) net finance costs, staff costs, and other items[16](index=16&type=chunk) [Net Finance Costs](index=10&type=section&id=5(a)%20Net%20Finance%20Costs) Net finance costs primarily consist of interest on bank borrowings, which decreased in the current period, but a significant amount of bank borrowings remains overdue and is subject to a restructuring plan Net Finance Costs Details | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Interest on bank borrowings | 18,936 | 23,836 | | Interest on lease liabilities | 18 | 1,038 | | Bank charges | 30 | 56 | | Net foreign exchange (gain) / loss | (11) | 57 | | Interest income from bank deposits | (15) | (145) | | **Net finance costs** | **18,958** | **24,842** | - As of June 30, 2025, bank borrowings of **HKD 348,827,000** and accrued interest of **HKD 271,858,000** are overdue and have been included in a consolidated restructuring plan[16](index=16&type=chunk)[17](index=17&type=chunk) - Chinese courts have issued judgments for bank borrowings with a principal of **HKD 327,697,000**, requiring the subsidiary to repay the adjudicated outstanding bank borrowings together with accrued interest totaling **HKD 437,726,000**[18](index=18&type=chunk) [Staff Costs](index=11&type=section&id=5(b)%20Staff%20Costs) Staff costs, primarily comprising salaries, wages, and other benefits, decreased year-on-year in the current period Staff Costs Details | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Salaries, wages and other benefits | 24,230 | 32,421 | | Contributions to defined contribution retirement schemes | 1,469 | 2,276 | | **Total** | **25,699** | **34,697** | [Other Items](index=11&type=section&id=5(c)%20Other%20Items) Other items primarily include cost of inventories, impairment losses on trade receivables, and depreciation and amortization, with significant decreases in cost of inventories and depreciation, but a substantial increase in impairment losses on trade receivables Other Items Details | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Cost of inventories | 196,967 | 463,472 | | (Reversal of write-down) / write-down of inventories | (49) | 484 | | Impairment losses on trade receivables | 10,109 | 5,245 | | Amortisation of prepaid lease payments | 540 | 995 | | Amortisation of intangible assets | 307 | – | | Depreciation of property, plant and equipment | 8,956 | 14,208 | [Income Tax (Expense) / Credit](index=12&type=section&id=6%20Income%20Tax%20(Expense)%20%2F%20Credit) Income tax shifted from a credit to an expense in the current period, mainly due to under-provision in prior years Income Tax (Expense) / Credit Details | Item | Six Months Ended June 30, 2025 (HKD thousands) | Six Months Ended June 30, 2024 (HKD thousands) | | :--- | :--- | :--- | | Current tax credit - current year | – | – | | Under-provision / (over-provision) in prior years | 4 | (45) | | **Total income tax expense / (credit)** | **4** | **(45)** | [Loss Per Share](index=12&type=section&id=7%20Loss%20Per%20Share) Basic and diluted loss per share remained flat compared to the same period last year, as the company has no potential ordinary shares Loss Per Share Data | Indicator | Six Months Ended June 30, 2025 (HKD) | Six Months Ended June 30, 2024 (HKD) | | :--- | :--- | :--- | | Basic loss per share | (0.006) | (0.006) | | Diluted loss per share | (0.006) | (0.006) | [Basic Loss Per Share](index=12&type=section&id=7(a)%20Basic%20Loss%20Per%20Share) Basic loss per share is calculated based on the loss attributable to owners of the Company and the weighted average number of ordinary shares, amounting to HKD 0.006 in the current period - Basic loss per share is calculated based on the loss attributable to owners of the Company of **HKD 10,803,000** and the weighted average number of ordinary shares of **1,822,756,000**[22](index=22&type=chunk) [Diluted Loss Per Share](index=12&type=section&id=7(b)%20Diluted%20Loss%20Per%20Share) Diluted loss per share is equal to basic loss per share as the company has no potential ordinary shares - Diluted loss per share is equal to basic loss per share as the company has no potential ordinary shares[23](index=23&type=chunk) [Income Tax Rules and Exemptions](index=12&type=section&id=Income%20Tax%20Rules%20and%20Exemptions) The Group is not subject to income tax in Bermuda and the British Virgin Islands, has no assessable profits in Hong Kong, and enterprises engaged in primary processing of agricultural products in mainland China are exempt from corporate income tax - The Group is not subject to any income tax in Bermuda and the British Virgin Islands, and has no assessable profits in Hong Kong[24](index=24&type=chunk) - Enterprises engaged in primary processing of agricultural products in mainland China are exempt from Chinese corporate income tax, and profits from slaughtering businesses are also exempt[24](index=24&type=chunk) [Property, Plant and Equipment](index=13&type=section&id=8.%20Property,%20Plant%20and%20Equipment) The recoverable amount of property, plant and equipment was assessed during the period, and no impairment loss was recognized - The Group assessed the recoverable amount of cash-generating units based on value in use, using management-approved five-year financial forecasts[25](index=25&type=chunk) - No impairment losses on property, plant and equipment and prepaid lease payments were recognized for the six months ended June 30, 2025 and 2024[25](index=25&type=chunk) [Trade and Other Receivables](index=13&type=section&id=9%20Trade%20and%20Other%20Receivables) As of June 30, 2025, net trade receivables slightly increased, but prepayments and other receivables grew significantly, leading to an increase in total receivables Trade and Other Receivables Details | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Gross trade receivables | 104,045 | 93,010 | +11.9% | | Less: Expected credit losses | (18,149) | (7,997) | +126.9% | | Trade receivables, net | 85,896 | 85,013 | +1.0% | | Deductible VAT | 55,439 | 61,468 | -9.8% | | Deposits and prepayments | 90,461 | 69,603 | +30.0% | | Other receivables | 104,981 | 70,665 | +48.6% | | **Total** | **336,777** | **286,749** | **+17.4%** | [Trade and Other Payables](index=14&type=section&id=10%20Trade%20and%20Other%20Payables) As of June 30, 2025, total trade payables decreased, but accrued interest and other payables significantly increased, leading to a slight rise in total payables Trade and Other Payables Details | Item | June 30, 2025 (HKD thousands) | December 31, 2024 (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Gross trade payables | 92,386 | 113,855 | -18.8% | | Customer deposits | 18,670 | 20,322 | -8.1% | | Contract liabilities | 17,465 | 19,465 | -10.3% | | Accrued salaries and welfare | 3,326 | 10,414 | -68.1% | | VAT payable | 67,752 | 64,229 | +5.5% | | Payables for acquisition of property, plant and equipment | 27,647 | 27,229 | +1.5% | | Provision for litigation losses | 64,271 | 63,299 | +1.5% | | Accrued interest | 271,858 | 250,721 | +8.4% | | Other payables and accrued expenses | 348,815 | 338,489 | +3.1% | | **Total** | **912,190** | **908,023** | **+0.5%** | [Dividends](index=14&type=section&id=11%20Dividends) The Board of Directors does not recommend the declaration of an interim dividend for the six months ended June 30, 2025 and 2024 - The Directors do not recommend the declaration of an interim dividend for the six months ended June 30, 2025 and 2024[28](index=28&type=chunk) [Contingent Liabilities](index=14&type=section&id=12%20Contingent%20Liabilities) Aside from the bank litigation disclosed in Note 5(a), the Group has no other significant pending or threatened litigation or claims - Aside from the bank litigation disclosed in Note 5(a), the Group is not involved in any other significant litigation or arbitration[29](index=29&type=chunk) - Management believes that non-material litigation arising from ordinary business will not have any significant impact on the Group's financial position and results[29](index=29&type=chunk) Management Discussion and Analysis [Macroeconomic and Industry Review](index=15&type=section&id=Macroeconomic%20and%20Industry%20Review) In the first half of 2025, China's economy continued its recovery and improvement, with GDP growing by 5.3% year-on-year, but insufficient consumer willingness led to a 0.1% year-on-year decline in CPI; the hog farming industry faced downward pressure on pork prices, and pork consumption is expected to decline long-term, prompting industry transformation and upgrading - In the first half of 2025, China's GDP grew by **5.3%** year-on-year, but insufficient consumer willingness led to a **0.1%** year-on-year decline in CPI[31](index=31&type=chunk) - The hog farming industry faced significant downward pressure on pork prices, with hog slaughter volume increasing by **0.6%** year-on-year, and pork production and sales are expected to decline long-term, necessitating industry transformation and upgrading[31](index=31&type=chunk) [Business Review](index=15&type=section&id=Business%20Review) In the first half of the year, the Group focused on "Harbin Meat Union" series products, but overall revenue decreased by approximately 52.6% year-on-year due to falling hog prices, a strategic reduction in production at low-profit slaughterhouses, and the expiration of leases for some processed meat product factories - The Group focused on downstream "Harbin Meat Union" series products, adhering to traditional craftsmanship while exploring innovation[32](index=32&type=chunk) - Hog slaughter volume increased, market supply was abundant, and insufficient consumer demand led to a **2.2%** year-on-year decrease in hog prices[32](index=32&type=chunk) - The Group strategically reduced production at low-profit slaughterhouses and experienced the expiration of leases for some processed meat product factories, resulting in an overall revenue decrease of approximately **52.6%** year-on-year[34](index=34&type=chunk) [Product Quality and Research & Development](index=16&type=section&id=Product%20Quality%20and%20Research%20%26%20Development) The Group adheres to the "quality first" principle, strictly controlling every aspect from raw material procurement to sales, ensuring product quality stability and safety - The Group consistently adheres to the "quality first" principle, strictly controlling every aspect from raw material procurement to sales[33](index=33&type=chunk) - Ensuring product quality stability and consistency to provide consumers with high-quality, safe, and reliable food[33](index=33&type=chunk) [Sales and Distribution](index=16&type=section&id=Sales%20and%20Distribution) Chilled meat and low-temperature processed meat products are the main sources of income; chilled meat sales decreased by 80.1% year-on-year, while low-temperature processed meat product sales increased by 20.7% year-on-year, significantly increasing their proportion of total revenue Sales and Distribution Key Data | Product Category | H1 2025 Sales (HKD) | H1 2024 Sales (HKD) | Y-o-Y Change | % of Total Revenue (2025) | % of Total Revenue (2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Chilled meat | HKD 54 million | HKD 270 million | -80.1% | 21% | 50% | | Low-temperature processed meat products | HKD 185 million | HKD 154 million | +20.7% | 73% | 28% | [Production Facilities and Capacity](index=16&type=section&id=Production%20Facilities%20and%20Capacity) As of June 30, 2025, the Group's annual production capacity for upstream slaughtering and downstream processed meat products remained consistent with December 31, 2024 - The Group's annual production capacity for upstream slaughtering and downstream processed meat products is approximately **2.35 million heads** and **20,000 tons** respectively, consistent with December 31, 2024[35](index=35&type=chunk) [Financial Review and Key Performance Indicators](index=16&type=section&id=Financial%20Review%20and%20Key%20Performance%20Indicators) The Group's revenue significantly decreased in the first half of the year, but by focusing on higher-margin downstream businesses, the overall gross profit margin improved; however, the loss attributable to owners of the Company still expanded Financial Review and Key Performance Indicators Overview | Indicator | H1 2025 (HKD) | H1 2024 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | HKD 255 million | HKD 539 million | -52.6% | | Loss attributable to owners | HKD 11 million | HKD 10 million | +10.0% | | Basic and diluted loss per share | HKD 0.006 | HKD 0.006 | 0% | [Revenue](index=17&type=section&id=Revenue) The Group's overall revenue decreased by approximately 52.6% year-on-year, primarily due to a significant decline in upstream business sales revenue, while downstream processed meat product business revenue also decreased - The Group's overall revenue decreased by approximately **52.6%** year-on-year[34](index=34&type=chunk)[36](index=36&type=chunk) [Chilled and Frozen Meat](index=17&type=section&id=Chilled%20and%20Frozen%20Meat) Overall sales revenue from upstream business significantly decreased by 77.7%, with chilled meat sales decreasing by 80.1% and frozen meat sales decreasing by 61.9% Chilled and Frozen Meat Sales Data | Product Category | H1 2025 Sales (HKD) | H1 2024 Sales (HKD) | Y-o-Y Change | % of Upstream Total Revenue (2025) | % of Upstream Total Revenue (2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Upstream business total sales revenue | HKD 70 million | HKD 312 million | -77.7% | - | - | | Chilled meat | HKD 54 million | HKD 270 million | -80.1% | 77% | 86% | | Frozen meat | HKD 16 million | HKD 42 million | -61.9% | 23% | 14% | [Processed Meat Products](index=17&type=section&id=Processed%20Meat%20Products) Sales of processed meat products decreased by 18.1% year-on-year, with low-temperature processed meat product revenue increasing by 20.7%, but high-temperature processed meat products having no revenue due to lease expiration Processed Meat Products Sales Data | Product Category | H1 2025 Sales (HKD) | H1 2024 Sales (HKD) | Y-o-Y Change | % of Total Revenue (2025) | % of Total Revenue (2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Processed meat products total sales | HKD 185 million | HKD 227 million | -18.1% | - | - | | Low-temperature processed meat products | HKD 185 million | HKD 154 million | +20.7% | 73% | 28% | | High-temperature processed meat products | None | HKD 73 million | -100% | 0% | - | [Gross Profit and Gross Profit Margin](index=17&type=section&id=Gross%20Profit%20and%20Gross%20Profit%20Margin) The Group's overall gross profit decreased by 22.7% year-on-year, but by focusing on high-margin downstream businesses, the overall gross profit margin increased from 14.0% to 22.9%; upstream business gross profit margin slightly increased, while downstream business gross profit margin decreased due to increased raw material costs Gross Profit and Gross Profit Margin Data | Indicator | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Overall gross profit (HKD) | HKD 58 million | HKD 76 million | -22.7% | | Overall gross profit margin | 22.9% | 14.0% | +8.9 percentage points | | Upstream overall gross profit margin | 1.5% | 1.4% | +0.1 percentage points | | Chilled meat gross profit margin | 2.5% | 2.2% | +0.3 percentage points | | Frozen meat gross profit margin | -2.2% | -3.6% | +1.4 percentage points | | Downstream overall gross profit margin | 30.9% | 31.4% | -0.5 percentage points | | Low-temperature processed meat products gross profit margin | 30.9% | 37.2% | -6.3 percentage points | [Other Net Losses / Income](index=18&type=section&id=Other%20Net%20Losses%20%2F%20Income) The Group shifted from net income to a net loss of approximately HKD 2.2 million during the review period Other Net Losses / Income Data | Indicator | H1 2025 (HKD) | H1 2024 (HKD) | | :--- | :--- | :--- | | Other net losses / income | (HKD 2.2 million) | HKD 1.8 million | [Operating Expenses](index=18&type=section&id=Operating%20Expenses) Operating expenses decreased by 20.1% year-on-year, primarily due to lower direct costs resulting from reduced sales volume, but their proportion of revenue increased Operating Expenses Data | Indicator | H1 2025 (HKD) | H1 2024 (HKD) | Y-o-Y Change | % of Revenue (2025) | % of Revenue (2024) | | :--- | :--- | :--- | :--- | :--- | :--- | | Operating expenses | HKD 52 million | HKD 66 million | -20.1% | 20.5% | 12.2% | [Operating Results](index=18&type=section&id=Operating%20Results) The Group's operating profit significantly decreased by 66.7% year-on-year Operating Results Data | Indicator | H1 2025 (HKD) | H1 2024 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Operating profit | HKD 4 million | HKD 12 million | -66.7% | [Net Finance Costs](index=18&type=section&id=Net%20Finance%20Costs) Net finance costs decreased by 23.7% year-on-year, primarily due to a lower interest rate on a bank borrowing and no longer accruing overdue interest and penalties Net Finance Costs Data | Indicator | H1 2025 (HKD) | H1 2024 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Net finance costs | HKD 19 million | HKD 25 million | -23.7% | - The decrease in net finance costs was primarily due to a lower interest rate on a bank borrowing under a new agreement, and no longer needing to accrue overdue interest and penalties[43](index=43&type=chunk) [Income Tax](index=18&type=section&id=Income%20Tax) Income tax shifted from a credit to an expense during the review period Income Tax Data | Indicator | H1 2025 (HKD) | H1 2024 (HKD) | | :--- | :--- | :--- | | Income tax expense / (credit) | HKD 4 thousand | (HKD 50 thousand) | [Loss Attributable to Owners of the Company](index=18&type=section&id=Loss%20Attributable%20to%20Owners%20of%20the%20Company) Loss attributable to owners of the Company expanded by 10% year-on-year Loss Attributable to Owners of the Company Data | Indicator | H1 2025 (HKD) | H1 2024 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Loss attributable to owners of the Company | HKD 11 million | HKD 10 million | +10.0% | [Financial Resources and Liabilities](index=18&type=section&id=Financial%20Resources) The Group's cash and cash equivalents significantly decreased, and outstanding bank borrowings slightly declined but still faced substantial overdue borrowings and default issues; despite a net liability position, the Board believes non-current assets can provide support and is confident in future financial improvement - The Group's cash and cash equivalents decreased by approximately **HKD 20 million** to **HKD 21 million**[46](index=46&type=chunk) - Outstanding bank borrowings amounted to **HKD 438 million**, of which **HKD 376 million** are due within one year[46](index=46&type=chunk) - Despite recording a net liability position, the Group holds approximately **HKD 235 million** in non-current assets, which the Board believes does not pose a significant impact on going concern[54](index=54&type=chunk) [Financial Resources](index=18&type=section&id=Financial%20Resources) As of June 30, 2025, cash and cash equivalents significantly decreased, outstanding bank borrowings slightly declined, and all borrowings were denominated in RMB Financial Resources Key Data | Indicator | June 30, 2025 (HKD) | December 31, 2024 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | HKD 21 million | HKD 41 million | -48.8% | | Outstanding bank borrowings | HKD 438 million | HKD 444 million | -1.4% | | Fixed-rate debt ratio | 95% | 94% | +1 percentage point | - Net cash outflow during the review period was primarily used for repayment of bank borrowings and operating activities[48](index=48&type=chunk) - Capital expenditure was approximately **HKD 1.3 million**, a significant decrease compared to the same period last year[49](index=49&type=chunk) [Breach of Loan Covenants](index=19&type=section&id=Breach%20of%20Loan%20Covenants) The Group failed to meet covenants for HKD 349 million in bank borrowings, which, along with accrued interest, are overdue and have been included in a consolidated restructuring plan; the company is actively communicating with banks to seek extensions, renewals, or revised terms, and banks have indicated no intention to take extreme measures - As of June 30, 2025, the Group failed to meet certain loan covenants for bank borrowings of **HKD 349 million**, which, along with accrued interest of **HKD 272 million**, are overdue[50](index=50&type=chunk) - The overdue bank borrowings have been included in a consolidated restructuring plan, but relevant legal procedures will not be automatically lifted if banks do not convert the debt into equity in the new platform[51](index=51&type=chunk) - The Group is actively communicating with state-owned commercial banks to discuss extensions, renewals, and/or revisions of loan terms, and the banks have indicated no intention to take extreme measures[53](index=53&type=chunk) [Assets and Liabilities](index=20&type=section&id=Assets%20and%20Liabilities) The Group's total assets and total liabilities both slightly decreased, but net current liabilities and net liabilities both expanded, indicating increased financial leverage pressure Assets and Liabilities Key Data | Indicator | June 30, 2025 (HKD) | December 31, 2024 (HKD) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Total assets | HKD 621 million | HKD 645 million | -3.7% | | Total liabilities | HKD 1.351 billion | HKD 1.353 billion | -0.1% | | Property, plant and equipment | HKD 195 million | HKD 199 million | -2.0% | | Net current liabilities | HKD 902 million | HKD 872 million | +3.4% | | Net liabilities | HKD 729 million | HKD 708 million | +3.0% | - The Board assessed that despite the net liability position, the Group holds approximately **HKD 235 million** in non-current assets, which can support daily production and operations[54](index=54&type=chunk) [Pledge of Assets](index=21&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, approximately HKD 12 million of the Group's trade receivables were pledged to secure approximately HKD 23 million in bank borrowings Pledge of Assets Data | Indicator | June 30, 2025 (HKD) | December 31, 2024 (HKD) | | :--- | :--- | :--- | | Pledged trade receivables | HKD 12 million | HKD 17 million | | Secured bank borrowings | HKD 23 million | HKD 27 million | [Material Investments, Acquisitions and Disposals of Subsidiaries and Associates, and Plans for Future Material Investments or Capital Asset Purchases](index=21&type=section&id=Material%20Investments,%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%20and%20Associates,%20and%20Plans%20for%20Future%20Material%20Investments%20or%20Capital%20Asset%20Purchases) During the review period, the Group had no material investments or significant acquisitions and disposals of subsidiaries, nor any plans for future material investments or capital asset purchases - The Group held no other material investments or significant acquisitions and disposals of subsidiaries during the review period[58](index=58&type=chunk) - As of the date of this announcement, the Group also has no plans for any material investments or capital asset purchases[58](index=58&type=chunk) [Contingent Liabilities](index=21&type=section&id=Contingent%20Liabilities) A bank in mainland China initiated litigation against a subsidiary of the Group, demanding immediate repayment of approximately HKD 349 million in bank borrowings, which the Group is negotiating to resolve - A bank in mainland China initiated litigation against a subsidiary of the Group, demanding immediate repayment of approximately **HKD 349 million** in bank borrowings[59](index=59&type=chunk) - The Group is negotiating with the bank to resolve these litigations, and there are no other significant contingent liabilities[59](index=59&type=chunk) [Risk Management](index=21&type=section&id=Foreign%20Exchange%20Fluctuation%20Risk%20and%20Related%20Hedging) The Group's business is primarily settled in RMB, and it continuously monitors foreign exchange risk to ensure it remains within a controllable range - The Group's business is primarily settled in RMB, which is currently still subject to foreign exchange controls[60](index=60&type=chunk) - The Group continuously monitors its foreign exchange risk, considering exchange rate fluctuation trends and cash flow needs, to ensure related risks remain within a controllable range[60](index=60&type=chunk) [Human Resources](index=22&type=section&id=Human%20Resources) As of June 30, 2025, the Group's total number of employees decreased to approximately 600, and total staff costs decreased year-on-year but increased as a proportion of revenue; the company adheres to a people-oriented philosophy, providing competitive compensation, benefits, and training and promotion mechanisms Human Resources Key Data | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total number of employees | Approx. 600 | Approx. 1,000 | | Total staff costs (HKD) | HKD 26 million | HKD 35 million (H1 2024) | | Staff costs as % of revenue | 10.1% | 6.4% (H1 2024) | - The company adheres to a people-oriented philosophy, strictly safeguarding employees' legitimate rights and interests, and providing competitive salaries, performance bonuses, retirement plans, and other benefits[61](index=61&type=chunk) - Continuously optimizing employee training programs and establishing fair promotion mechanisms to stimulate employee enthusiasm and creativity[61](index=61&type=chunk) [Environmental Protection and Performance](index=22&type=section&id=Environmental%20Protection%20and%20Performance) The Group places sustainable development at its core, actively fulfilling corporate social responsibility, integrating green and low-carbon concepts into corporate governance and business operations, and continuously optimizing energy structure, advocating green office and travel - The Group places sustainable development at the core of its development, actively fulfilling corporate social responsibility[62](index=62&type=chunk) - Integrating green and low-carbon concepts into corporate governance and business operations, optimizing energy structure, and improving energy utilization efficiency[62](index=62&type=chunk) - Continuously deepening the green office concept, advocating green travel, and will comprehensively promote the enterprise's transformation towards low-carbon and green operations in the future[62](index=62&type=chunk) Corporate Governance [Corporate Governance Principles and Structure](index=23&type=section&id=Corporate%20Governance%20Principles%20and%20Structure) The company adheres to principles of integrity, transparency, openness, and efficiency in corporate governance, adopting a sound governance structure and measures, overseeing company operations through the Board of Directors and its committees (Audit, Remuneration, Nomination), and establishing risk management and internal control systems - The company adheres to principles of integrity, transparency, openness, and efficiency in corporate governance, striving to achieve high standards of corporate governance[63](index=63&type=chunk) - The Board of Directors consists of five directors and has an Audit Committee, Remuneration Committee, and Nomination Committee, with clearly defined terms of reference[63](index=63&type=chunk) - A risk management and internal control system has been established and its effectiveness is reviewed by the Audit Committee with the assistance of the internal audit department[63](index=63&type=chunk) [Roles of Chairman and Chief Executive Officer](index=24&type=section&id=Roles%20of%20Chairman%20and%20Chief%20Executive%20Officer) Ms. Zhu Yuan serves as both the Chairman of the Board and Chief Executive Officer, which does not comply with Code Provision C.2.1 of the Corporate Governance Code; the Board believes this arrangement facilitates efficient formulation and execution of business strategies and plans to identify a suitable Chief Executive Officer in the long term - Ms. Zhu Yuan serves as both the Chairman of the Board and Chief Executive Officer of the company, which does not comply with Code Provision C.2.1 of the Corporate Governance Code[65](index=65&type=chunk) - The Board believes this arrangement facilitates more effective and efficient formulation of business strategies and execution of business plans, benefiting the Group's business prospects and management[65](index=65&type=chunk) - The composition of the Board ensures a balance of power, and a suitable Chief Executive Officer will be identified and appointed in the long term[65](index=65&type=chunk) [Standard Code for Securities Transactions by Directors](index=24&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The company has adopted Appendix C3 "Standard Code" of the Listing Rules and confirms that all Directors have complied with the code during the review period - The company has adopted Appendix C3 "Standard Code" of the Listing Rules as the code of conduct for Directors' dealings in company securities[66](index=66&type=chunk) - The company confirms that all Directors have complied with the requirements of the Standard Code during the review period[66](index=66&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=24&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) During the review period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - During the review period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[67](index=67&type=chunk) [Audit Committee](index=24&type=section&id=Audit%20Committee) The Audit Committee has reviewed the Group's accounting principles, practices, internal controls, risk management, and financial reporting matters with management, including the unaudited interim results for the current period - The Audit Committee has reviewed the Group's accounting principles and practices with management, and discussed internal controls, risk management, and financial reporting matters[68](index=68&type=chunk) - The review included the Group's unaudited interim results for the review period[68](index=68&type=chunk) Post-Reporting Events and Publication [Significant Events Affecting the Group After the Reporting Period](index=24&type=section&id=Significant%20Events%20Affecting%20the%20Group%20After%20the%20Reporting%20Period) From June 30, 2025, up to the date of this announcement, there have been no significant events affecting the Group - From June 30, 2025, up to the date of this announcement, there have been no significant events affecting the Group[69](index=69&type=chunk) [Publication of Interim Results and Interim Report](index=25&type=section&id=Publication%20of%20Interim%20Results%20and%20Interim%20Report) This announcement has been published on the HKEX and company websites, and the interim report will be dispatched to shareholders and published on the company and HKEX websites in due course - This announcement has been published on the website of The Stock Exchange of Hong Kong Limited and the company's website[70](index=70&type=chunk) - The company's 2025 interim report will be dispatched to the company's shareholders (if requested) and published on the company's and HKEX websites in due course[70](index=70&type=chunk)