公告称，亏损增加乃主要由于歷史投资项目中按公允值计入损益的金融资产及预期信贷亏损模型下的减 值亏损，扣除拨回以及追讨历史应收账款所产生费用所致。 联众(06899)公布2023年年度业绩，收入8899.6万元，同比减少12.4%;公司权益持有人应占年内亏损 6276.5万元，同比增长76.5%;每股基本亏损5.9分。 ...

Core Viewpoint - The company, Huakong Kante (01312.HK), reported a significant increase in net loss for the six months ending June 30, 2025, primarily due to challenges in its fitness franchise business and economic uncertainties [1] Financial Performance - The group's revenue and gross profit for the period were approximately HKD 452.7 million and HKD 254.6 million, representing a decline of about 1.3% and 8.1% respectively compared to the same period in 2024 [1] - The net loss for the group was approximately HKD 321.4 million, a substantial increase from a net loss of approximately HKD 4.5 million in 2024 [1] - Basic loss per share was approximately HKD 5.06, compared to earnings of approximately HKD 0.09 per share in 2024 [1] Business Challenges - The increase in net loss was attributed to a series of changes in the performance of the fitness franchise business, which faced slow recovery due to economic uncertainties and intensified competition [1] - The company's joint venture operating in Taiwan encountered operational difficulties and financial constraints, contributing to the financial losses [1] Impairment Losses - The group recorded significant impairment losses, including: - Expected credit loss model impairment of financial assets amounting to approximately HKD 159.0 million, compared to HKD 25.5 million in 2024 [1] - Impairment loss on intangible assets of approximately HKD 123.9 million, compared to HKD 13.6 million in 2024 [1] - Goodwill impairment loss in the fitness business segment of approximately HKD 88.4 million, whereas there was no such loss recorded in 2024 [1]

Company Overview - Shanghai Congji Dental Clinic Co., Ltd. was established on July 5, 2023, in the Pudong New Area of Shanghai, with a registered capital of RMB 1 million [1] - The company is invested by Shanghai Tongce Dental Hospital Co., Ltd. and operates under the business scope of medical services [1] Financial Reporting Basis - The financial statements are prepared based on the going concern assumption and in accordance with the accounting standards issued by the Ministry of Finance [2] - The accounting records are maintained on an accrual basis, with historical cost as the measurement basis, except for certain financial instruments [2] Accounting Policies - The accounting period is divided into annual and interim periods, with the fiscal year running from January 1 to December 31 [2] - The company uses Renminbi as its functional currency for accounting purposes [2] Financial Assets and Liabilities - Financial assets are classified based on the business model for managing them and their cash flow characteristics, including those measured at amortized cost and at fair value [3][4] - Financial liabilities are classified into those measured at fair value with changes recognized in profit or loss and other financial liabilities [5][6] Impairment and Credit Losses - The company recognizes impairment losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income [10][11] - Expected credit losses are measured based on the credit risk of financial assets since initial recognition, with different methods applied depending on whether credit risk has significantly increased [12][13] Government Grants - Government grants are classified into those related to assets and those related to income, with specific accounting treatments for each type [18][19] - Grants related to assets are recognized as deferred income and amortized over the useful life of the related assets [21] Taxation - The corporate income tax rate is set at 20% on taxable income [25] - The company benefits from reduced tax rates for small and micro enterprises as per the relevant government policies [25]

Core Viewpoint - The company, Xinkong International Capital (00993.HK), is expected to report a net loss of approximately HKD 290 million to HKD 310 million for the six months ending June 30, 2025, compared to a net profit of about HKD 143 million in the previous period [1] Financial Performance - The anticipated net loss is primarily attributed to significant impairment losses recognized during the period, mainly due to a substantial decrease in the expected recoverable amount of a loan [1] - The company also recorded a net loss on financial assets measured at fair value through profit or loss during the current period [1] - In the previous period, the net profit was largely due to a significant reversal of impairment provisions related to the aforementioned loan, driven by an increase in the fair value of collateral [1] - Financial assets measured at fair value through profit or loss generated a net gain in the prior period [1]

Financial Overview - The total assets of the company at the end of the period amounted to 2,927,204,149.85 RMB, an increase from 2,862,807,453.09 RMB at the beginning of the period [1][2] - Total liabilities increased to 591,767,200.96 RMB from 576,236,051.39 RMB [2][6] - Shareholder equity rose to 2,335,436,948.89 RMB from 2,286,571,401.70 RMB [2][6] Income Statement Highlights - The total operating revenue for the first half of 2025 was 559,129,715.35 RMB, compared to 427,051,925.09 RMB in the same period of 2024, reflecting a growth of approximately 31% [2][3] - Total operating costs increased to 522,084,211.12 RMB from 374,371,337.69 RMB, indicating a rise of about 39.5% [2][3] - The net profit for the first half of 2025 was 66,188,133.00 RMB, significantly higher than 13,062,281.30 RMB in the first half of 2024 [2][3] Cash Flow Analysis - The net cash flow from operating activities for the first half of 2025 was -115,098,627.46 RMB, a decline from a positive cash flow of 81,034,013.07 RMB in the same period of 2024 [3][4] - Cash flow from investing activities showed a net inflow of 269,881,227.03 RMB, contrasting with a net outflow of -98,320,468.84 RMB in the previous year [3][4] - Cash flow from financing activities resulted in a net outflow of -13,809,529.46 RMB, compared to a net inflow of 66,291,844.30 RMB in the first half of 2024 [3][4] Shareholder Equity Changes - The total equity attributable to shareholders decreased from 2,391,668,331.00 RMB to 2,376,607,531.00 RMB [2][6] - The retained earnings showed a significant loss, with the undistributed profits at -2,397,064,326.86 RMB, improving from -2,458,053,254.05 RMB [2][6] - The total equity increased slightly to 2,471,187,514.28 RMB from 2,465,555,887.99 RMB [6]

Company Overview - Nanjing Wanyou Commercial Management Co., Ltd. was established on December 27, 2022, with a registered capital of 5 million RMB [1] - The company is primarily engaged in the sale of bulk snacks and operates under the management of its parent company, Fujian Wancheng Biotechnology Group Co., Ltd. [1] - As of May 31, 2025, the company has a total of 37 subsidiaries included in its consolidated financial statements [1] Financial Reporting - The financial statements are prepared based on the going concern assumption and are intended for the acquisition of minority shareholders' equity by Wancheng Group [1] - The financial statements comply with the requirements of enterprise accounting standards, reflecting the operating results and cash flows for the fiscal years 2025 and 2023 [2] Accounting Policies - The company has established specific accounting policies and estimates for revenue recognition and leasing transactions based on its operational characteristics [2] - The accounting period is aligned with the calendar year, running from January 1 to December 31 [2] Consolidation and Mergers - The company follows the principle of control to determine the scope of consolidated financial statements, which includes the company and all its subsidiaries [6] - For mergers under common control, the assets and liabilities are measured at the book value on the merger date, while for mergers not under common control, the acquisition cost includes the fair value of assets and liabilities on the purchase date [3][4] Financial Instruments - Financial assets are classified based on the business model and cash flow characteristics, with categories including those measured at amortized cost and those measured at fair value [10][12] - The company recognizes financial assets and liabilities at fair value upon initial recognition, with subsequent measurement based on their classification [12][14] Inventory Management - Inventory is primarily composed of finished goods and is valued at actual cost, including procurement and processing costs [25] - The company uses a perpetual inventory system and recognizes inventory write-downs when the net realizable value is lower than the cost [25]

Company Overview - Hangzhou Wangying Technology Co., Ltd. was established on July 10, 2009, and is primarily engaged in brand retail, channel distribution, and brand operation management [1] - The actual controllers of the company are Yuan Zhenxing and Fu Yuanyuan [1] Financial Reporting Basis - The financial statements are prepared based on the going concern assumption and in accordance with the accounting standards issued by the Ministry of Finance [1][2] - The accounting period is divided into annual and interim periods, with the fiscal year running from January 1 to December 31 [2] Accounting Policies and Estimates - The company has established specific accounting policies and estimates based on its operational characteristics, particularly regarding revenue recognition [2] - The company uses the accrual basis for accounting, except for certain financial instruments, and measures assets at historical cost unless impairment occurs [2] Financial Instruments - Financial assets are classified into categories based on the business model and cash flow characteristics, including those measured at amortized cost and those measured at fair value [3][4] - Financial liabilities are classified as either measured at fair value with changes recognized in profit or loss or other financial liabilities measured at amortized cost [6][7] Impairment and Credit Losses - The company assesses expected credit losses for financial assets and recognizes loss provisions based on the risk of default [11][12] - Expected credit losses are calculated based on historical loss experience and current economic conditions [13][14] Inventory and Costing - Inventory is measured at the lower of cost and net realizable value, with costs including procurement, labor, and other expenses [15][16] - The company uses a perpetual inventory system and applies a weighted average method for inventory valuation [15] Non-Current Assets - Non-current assets held for sale are not depreciated or amortized, and any impairment losses are recognized if the carrying amount exceeds the fair value less costs to sell [20][18] - Fixed assets are depreciated using the straight-line method over their useful lives, which are reviewed annually [21][22] Intangible Assets - Intangible assets are initially measured at cost, and development costs are recognized as intangible assets if specific criteria are met [23][24] - The company reviews the useful lives and amortization methods of intangible assets at year-end [23]

Group 1 - The audit report indicates that the financial statements of Yanzhou Dongfang Electromechanical Co., Ltd. fairly reflect its financial position as of December 31, 2024, and its operational results and cash flows for the year 2024 in accordance with accounting standards [2][5]. - The company was established on December 7, 1990, with a registered capital of 50 million RMB, and is located in Zoucheng City, Shandong Province [5][6]. - The main business of the company includes the research, design, manufacturing, and service of general explosion-proof electrical and automation products [5][6]. Group 2 - The company operates in the electrical machinery and equipment manufacturing industry, focusing on products such as mining explosion-proof electrical products, high and low voltage switchgear, and automation systems [5][6]. - The financial statements are prepared based on the going concern assumption, indicating that the company has the ability to continue its operations for at least 12 months from the reporting date [6][7]. - The company adheres to the accounting principles set forth by the Ministry of Finance and the China Securities Regulatory Commission, ensuring that its financial reporting is in compliance with relevant regulations [6][7].

Company Overview - The company, State Grid Information Communication Yili Technology Co., Ltd., was established on December 27, 2000, in Xiamen, with an initial registered capital of RMB 50 million, which has since increased to RMB 409.6 million [1][4] - The company underwent several name changes and ownership transfers, becoming a wholly-owned subsidiary of the State Grid Electric Power Research Institute in 2012 and later the State Grid Information Communication Industry Group Co., Ltd. in 2015 [1][3] Business Activities - The company's main business activities include software development, data processing and storage support services, information system integration services, digital content production, integrated circuit design, enterprise management consulting, and various technology services [2][3] - The company also engages in manufacturing and sales of network equipment, mobile terminal devices, and various electronic instruments, as well as providing cloud computing and energy storage technology services [2] Financial Reporting - The financial statements are prepared based on the going concern assumption, following the accounting standards issued by the Ministry of Finance, and reflect the company's financial position as of March 31, 2025, and December 31, 2024 [4][5] - The company adheres to the accrual basis of accounting, ensuring that transactions are recorded when they occur, rather than when cash is received or paid [4] Accounting Policies - The company has established specific accounting policies and estimates based on its operational characteristics, including the treatment of business combinations and the recognition of financial assets and liabilities [6][10] - The company classifies financial assets into categories based on their management model and cash flow characteristics, including those measured at amortized cost and those measured at fair value [15][16] Risk Management - The company assesses expected credit losses for financial assets, applying a general approach or simplified approach based on the credit risk characteristics of the assets [22][23] - The company recognizes impairment losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income [22][25]