[HK]天泓文创(08500):2025中期业绩报告
原标题:天泓文创:2025中期业绩报告 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED THE “STOCK EXCHANGE” AND “GEM”, RESPECTIVELY GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM. Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report. This report, for which the directors (the “Directors”) of Icon Culture Global Company Limited (the “Company”, together with its subsidiaries, the “Group”) collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the “GEM Listing Rules”) for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief, the information contained in this report is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this report misleading.香聯合交易所有限公司（「聯交所」）GEM（「GEM」）的特色 GEM的定位，乃為較於聯交所上市的其他公司帶有較高投資風險的中小型公司提供一個上市的市場。有意投資應瞭解投資於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 由於在GEM上市公司一般為中小型公司，在GEM買賣的證券可能會承受較於聯交所主板買賣的證券為高的市場波動風險，同時亦無法保證在GEM買賣的證券會有高流通量的市場。 香交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本報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。 本報告載有遵照聯交所GEM證券上市規則（「GEM上市規則」）規定提供的詳情，旨在提供有關天泓Contents 目錄 Page 頁次 Company Information 3 公司資料 Financial Highlights 6 財務摘要 Management Discussion and Analysis 7 管理層討論及分析 Corporate Governance and Other Information 19 企業管治及其他資料 Consolidated Statement of Profit or Loss 27 綜合損益表 Consolidated Statement of Profit or Loss and Other Comprehensive Income 28綜合損益及其他全面收益表 Consolidated Statement of Financial Position 29 綜合財務狀況表 Consolidated Statement of Changes in Equity 31 綜合權益變動表 Condensed Consolidated Cash Flow Statement 32 簡明綜合現金流量表 Notes to the Unaudited Interim Financial Report 34 未經審核中期財務報告附註 EXECUTIVE DIRECTORS 執行董事 Mr. Yao Tong 姚通先生 Ms. Liang Wei (Chief Executive Officer) 梁薇女士（行政總裁） Mr. Liu Biao 劉標先生 Ms. Li Chi Ying (resigned on 30 June 2025) 李志英女士（於2025年6月30日辭任） NON EXECUTIVE DIRECTOR 非執行董事 Mr. Chen Zongxian (Chairman) 陳宗憲先生（主席） INDEPENDENT NON EXECUTIVE DIRECTORS 獨立非執行董事 Ms. Tam Hon Shan Celia (resigned on 21 May 2025) 譚漢珊女士（於2025年5月21日辭任） Mr. Tian Tao 田濤先生 Mr. Liu Lihan 劉立漢先生 Mr. Ng Chau (appointed on 20 August 2025) 吳洲先生（於2025年8月20日獲委任） COMPANY SECRETARY 公司秘書 Mr. Choi Pun Lap 蔡本立先生 AUTHORISED REPRESENTATIVES 授權代表 Ms. Liang Wei 梁薇女士 Mr. Choi Pun Lap 蔡本立先生 BOARD COMMITTEES 董事委員會 Audit Committee 審核委員會 Ms. Tam Hon Shan Celia (Chairperson) 譚漢珊女士（主席） (resigned on 21 May 2025) （於2025年5月21日辭任） Mr. Ng Chau (Chairperson) 吳洲先生（主席） (appointed on 20 August 2025) （於2025年8月20日獲委任） Mr. Tian Tao 田濤先生 Mr. Liu Lihan 劉立漢先生 Remuneration Committee 薪酬委員會 Mr. Liu Lihan (Chairperson) 劉立漢先生（主席） Ms. Tam Hon Shan Celia (resigned on 21 May 2025) 譚漢珊女士（於2025年5月21日辭任） Mr. Tian Tao 田濤先生 Mr. Yao Tong 姚通先生 Nomination Committee 提名委員會 Mr. Yao Tong (Chairperson) 姚通先生（主席） Ms. Tam Hon Shan Celia (resigned on 21 May 2025) 譚漢珊女士（於2025年5月21日辭任）Mr. Tian Tao 田濤先生 Mr. Liu Lihan 劉立漢先生 Mr. Ng Chau (appointed on 20 August 2025) 吳洲先生（於2025年8月20日獲委任）REGISTERED OFFICE 註冊辦事處 Ogier Global (Cayman) Limited Ogier Global (Cayman) Limited 89 Nexus Way, Camana Bay, Grand Cayman 89 Nexus Way, Camana Bay, Grand Cayman KY1-9009, Cayman Islands KY1-9009, Cayman Islands PRINCIPAL PLACE OF BUSINESS IN THE PRC 中國主要?業地點 601, R&F YINGXIN BUILDING. NO. 28 HUAXIA RD. 中國廣東省 Zhujiang New Town 廣州市天河區 Tianhe District, Guangzhou City 珠江新城 Guangdong Province, the PRC 華夏路28號富力盈信大廈601室 PRINCIPAL PLACE OF BUSINESS IN HONG 香主要?業地點 KONG 1701, 17/F, Wai Fung Plaza 香 664 Nathan Road 九龍旺角 Mongkok, Kowloon 彌敦道664號 Hong Kong 惠豐中心17樓1701室 PRINCIPAL SHARE REGISTRAR AND TRANSFER 開曼群島股份過戶登記總處OFFICE IN THE CAYMAN ISLANDS Ogier Global (Cayman) Limited Ogier Global (Cayman) Limited 89 Nexus Way, Camana Bay, Grand Cayman 89 Nexus Way, Camana Bay, Grand Cayman KY1-9009, Cayman Islands KY1-9009, Cayman Islands HONG KONG BRANCH SHARE REGISTRAR AND 香股份過戶登記分處 TRANSFER OFFICE Boardroom Share Registrars (HK) Limited 寶德隆證券登記有限公司 2103B, 21/F, 148 Electric Road 香北角 North Point, Hong Kong 電氣道148號21樓2103B室 PRINCIPAL BANKERS 主要往來銀行 Bank of China 中國銀行 Agricultural Bank of China 中國農業銀行 CMB Wing Lung Bank 招商永隆銀行 COMPANY’S WEBSITE 公司網站 http://www.iconspace.com/ http://www.iconspace.com/ LISTING INFORMATION 上市資料 Place of Listing 上市地點 GEM of the Stock Exchange 聯交所GEM Stock Code 股份代號 8500 8500 Board Lot 買賣單位 10,000 shares 10,000股股份 Six months ended 30 June 截至6月30日止六個月 2025 2024 Change 2025年 2024年 變動 RMB’000 RMB’000 % 人民幣千元 人民幣千元 % (Unaudited) (Unaudited) （未經審核） （未經審核） Six months ended 30 June 截至6月30日止六個月 2025 2024 Change 2025年 2024年 變動 RMB’000 RMB’000 % 人民幣千元 人民幣千元 % (Unaudited) (Unaudited) （未經審核） （未經審核） Gross profit 毛利 7,225 3,271 120.9 Profit for the period 期內溢利 431 252 71.0 Revenue for six months ended Revenue for six months ended 30 June 2025 (RMB’000) 30 June 2024 (RMB’000) 截至2025年6月30日 截至2024年6月30日 止六個月收益（人民幣千元） 止六個月收益（人民幣千元） Creative design, public relation Online media (”PR”), marketing campaigns Online media advertising services and other services 303 （「公關」）、行銷活動 2,296 2.4% 及其他服務 11.3% 8,124 64.0% Traditional o ine media Traditional o ine media advertising services advertising services Creative design, public relation 傳統線下媒體廣告服務 傳統線下媒體廣告服務 (”PR”), marketing campaigns 4,276 5,855 and other services 33.6% 28.9% 創意設計、公共關係 （「公關」）、行銷活動 及其他服務 12,107 59.8% BUSINESS REVIEW 業務回顧 The Group is an integrated multimedia advertising 本集團是一家位於中國廣州的綜合多媒體廣告 and marketing service provider based in Guangzhou, 及?銷服務的供應商，向我們的品牌客戶提供 the PRC, providing advertising and marketing 廣告及?銷解決方案，括在(i)傳統線下媒體， solutions to our brand customers. Services we 括戶外（「戶外」）及室內媒體平台；(ii)互聯網 provide include (i) traditional offline media, 媒體，括門戶網站、電商平台及社交種草平 including Out-of-home (“OOH”) and indoor media 台等；及(iii)創意設計、公關、活動及其他服務 platforms; (ii) online media, including web portals, 等的多媒體整合平台。我們專注為我們客戶制 e-commerce platforms and social seeding platforms; 定?銷及廣告策略、識別及採購最合適的廣告 and (iii) integrated multimedia platforms, including 資源及投放形式、提供整合?銷及全案運?等 creative design, public relations, campaigns and 的服務，為我們所服務的客戶創造品牌及產品 other services. We focus on offering our customers 的宣傳效果的最大化，同時，推動我們的客戶 services such as developing marketing and 實現從品牌傳播、?銷效果到產品銷量及數字 advertising strategies, identifying and sourcing the 化賦能的完整閉環。 most appropriate advertising resources and delivery formats, and providing integrated marketing and full operation in order to maximise the effectiveness of brand and product promotion for our customers, while at the same time, to facilitate our customers to realise a complete closed-loop promotion from brand awareness, marketing effectiveness to product sales volume and digital empowerment. For the six months ended 30 June 2025 (the 截至2025年6月30日止六個月（「本期間」），本 “Period”), the Group became deputy director units 集團獲准成為中國工業報工業文化及旅游研究 of China Industrial News Agency Industrial Culture 中心、中國景區協會工業文旅分會、廣東省廣 and Tourism Research Center, The Industrial Culture 告協會戶外廣告專業會員會廣州站副主任單 and Tourism Branch of the China Tourism Scenic 位、中國廣告協會會員單位、廣東省廣告協會 Spots Association and Guangzhou Station of the 會員單位、中國商務廣告協會數字?銷委員會 of Guangdong Advertising Association Outdoor 會員單位、廣東省現代服務業聯合會會員單位 Advertising Professional Committee and was 以及廣東省遊戲產業協會會員單位。 granted memberships units by several organisations, including China Advertising Association, Guangdong Advertising Association, the Digital Marketing Committee of China Advertising Association of Commerce, Guangdong Modern Service Federation, During the Period, the intensity of the national 於本期間，國家宏觀調控政策的力度持續加macro-control policies continued to increase and 大，經濟逐步?復。然而，國民消費力的下the economy gradually recovered. However, the 降、品牌客戶對?銷類的預算仍然保持著謹慎downgrading of people’s consumption power 及保守的態度，這些構成了對廣告市場的威and the brand customers’ continued cautious 脅，行業內的競爭也越來越激烈。因此，要在and conservative attitude towards marketing 市場環境中脫穎而出，已經不能僅依賴傳統線budgets have threatened advertising market, 下媒體，有必要不斷尋找新的業務增長點。於making the competition in the advertising market 本期間，本集團持續從單一的廣告投放業務模increasingly fierce. Therefore, to stand out in the 式轉變，挖掘新客戶、新模式和新機會。 market environment, it is no longer possible to rely on traditional offline media only. It is necessary to constantly look for new business growth points. During the Period, the Group continued to evolve from single advertising placement business model and explore new customers, new models and new opportunities. During the Period, the Group recorded a turnover 於本期間，本集團錄得?業額約人民幣12.7百of approximately RMB12.7 million, representing 萬元，較2024年同期減少約人民幣7.6百萬元或decrease of approximately RMB7.6 million or 37.3% 37.3%（截至2024年6月30日止六個月：約人民幣(Six months ended 30 June 2024: approximately 20.3百萬元）。收益減少的主要基於幾個方面，RMB20.3 million) as compared to the corresponding 一方面是傳統廣告業務雖然毛利率偏高，但整period in 2024. The decrease in revenue is mainly 體的收入狀況有所下滑；另一方面是新型業務，based on several aspects. On the one hand, 括新媒體（網絡媒體等）及貿易運?等，雖有although the traditional advertising business has 新增，但其毛利率偏低（平均在5%以下），而a relatively high gross profit margin, its overall 對於這一部分低毛利率的業務，只是將其產生revenue has declined; on the other hand, new 的毛利部分記入收入；同時，新型業務能夠實businesses, including new media (such as online 現在收益上的穩定增加，需要較長的時間，在media) and trade operations, have increased, but 團隊組建、內部培訓、客戶需求溝通、實現效their gross profit margin is relatively low (averaging 果的轉化等方面共同拓展；本集團的目標是在below 5%), and for this part of the low-gross-profit- 2025年內或2026年的上半年，新型業務方面可margin business, only the gross profit generated 以實現明顯的收益貢獻。 is recorded as revenue. Simultaneously, for new business models to achieve stable revenue growth, a longer period is required, necessitating joint expansion in team building, internal training, client PROSPECT 前景 The United Nations’ “Mid-Year Update on the 聯合國2025年5月發佈的《2025年全球經濟形勢 Global Economic Situation and Prospects to 2025, 與前景年中更新》指出，2025年全球經濟增速 ” released in May 2025, projected global economic 預計將放緩至2.4%。世界銀行6月發佈的《全球 growth to slow to 2.4% in 2025. The World Bank’s 經濟展望》將2025年全球經濟增速預期調整為 “Global Economic Prospects,” released in June, 2.3%。比較來看，上半年我國經濟增長5.3%， lowered its 2025 global economic growth forecast 展現出強大活力和韌性。今年下半年亦將面臨 to 2.3%. By comparison, China’s economy grew 更複雜的挑戰。我國改革、發展、穩定任務繁 by 5.3% in the first half of the year, demonstrating 重，國內需求擴大的動能尚需增強，重點群體 strong vitality and resilience. In the second half of 以及部分行業就業壓力有所增加，經濟結構調 the year, more complex challenges will be faced. 整持續深化也面臨新挑戰。 China is confronted with arduous tasks in reform, development and stability, while the momentum of expanding domestic demands still needs to be strengthened. Employment pressures on key groups and certain industries have increased, while new challenges have also arisen amid the deepening of economic structural adjustments. Focusing on the advertising marketing sector, 聚焦廣告?銷領域，網上廣告已經成為增長最 online advertising has become the fastest-growing 快的渠道，加上AI等新技術工具的加入，使算 channel. Coupled with the integration of new 法（即大數據）與創意並存，廣告產業的新格局 technological tools such as AI, algorithms (i.e. big 已經呈現。 data) can coexist with creativity, representing a new landscape in advertising industry. Under the influence of multiple comprehensive new 在多種綜合性新形勢影下，本集團的業務策trends, the business strategies of the Group will be 略將是在穩固傳統廣告業務的同時，積極拓展to consolidate its traditional advertising business 更多的綜合型的全鏈路業務，將媒介、創意、while proactively expanding more comprehensive 電商、客服無縫串聯，公司從原有的「執行中full-link businesses. It will seamlessly combine 介」，升級為「策略合夥人」的性質，幫助客戶media, creativity, e-commerce and customer 在銷量增長的同時沉澱品牌的資產。上半年已service, leading the company to evolve from its 經開始在部分新領域嘗試，並有望在下半年有original position as an “executive intermediary” 更大的拓展及收益貢獻的業務如：to a “strategic partner”, and helping customers accumulate brand asset while driving sales growth. Businesses that have already started to explore new areas in the first half of the year and are expected to have greater expansion and revenue contribution in the second half of the year, such as: 1. We deeply explore the scenario dividends 1. 深度挖掘文旅項目帶來的場景紅利，聚brought by cultural tourism projects, 焦工業行業，拓展工業文旅周邊項目，focus on the industrial sector, and expand 為「透明工廠、製造業研學、舊址煥新、peripheral industrial cultural tourism projects, 工業博物館等」提供括定位、設計、providing comprehensive services including 運?、評價及宣傳等的綜合性服務；深positioning, design, operation, evaluation, 耕教育行業，應教育系統對課外及校and promotion for “transparent factories, 外研究的新需求，與各地小、中、高學manufacturing research and study, old site 校密切合作，推薦校外課程、研發教育revitalization, industrial museums, etc.”; 管理軟件、設計並落地研學基地等。將we also deeply cultivate the education 文旅概念落實到執行。 sector, respond to the new demands of the education system for extracurricular and off- campus research, and closely cooperate with primary, secondary, and high schools in various regions to recommend off-campus courses, develop educational management software, and design and implement research and study bases. Implement the concept of cultural tourism into execution. 2. With the help of technological tools such as 2. 借助AI等技術工具，自主設計系列數字AI, we can design a series of digital cultural 化文創產品，利用自主平台打造話題性and creative products independently, and 爆款，將數字產品商業化，可收藏、可leverage self-developed platform to create 交易。同時擴大在目標受眾範圍內的影trending popular blockbusters, making digital 力及自主平台及產品的知名度。 products can be commercialized, collected and traded. Meanwhile, it can broadened reach within the target audience, and enhance the popularity of its self-developed platform and products. FINANCIAL REVIEW 財務回顧 Revenue 收益 During the Period, the Group recorded a turnover 於本期間，本集團錄得?業額約人民幣12.7百of approximately RMB12.7 million, representing 萬元，較2024年同期減少約人民幣7.6百萬元或decrease of approximately RMB7.6 million or 37.3% 37.3%（截至2024年6月30日止六個月：約人民幣(Six months ended 30 June 2024: approximately 20.3百萬元）。收益減少的主要基於傳統廣告RMB20.3 million) as compared to the corresponding 業務的下滑，新業務，括新媒體及貿易運?period in 2024. The decrease in revenue was mainly 等，其毛利率偏低（如5%以下），僅將毛利部due to the decline of the traditional advertising 分計入收入的統計等原因導致。 business, and new businesses, including new media and trade operations, which have lower gross profit margins (e.g., below 5%), only include the gross profit portion in the revenue statistics. Gross Profit and Gross Profit Margin 毛利及毛利率 During the Period, the Group recorded gross profit 於本期間，本集團錄得毛利約人民幣7.2百萬of approximately RMB7.2 million, a year-on-year 元，同比增長118%（截至2024年6月30日止六個increase of 118% (Six months ended 30 June 2024: 月：毛利約人民幣3.3百萬元）及本期間毛利率gross profit of approximately RMB3.3 million) and 約為56.7%（截至2024年6月30日止六個月：毛利gross profit margin was approximately 56.7% for the 率約為16.1%）。 Period (Six months ended 30 June 2024: gross profit margin of approximately 16.1%). Other Revenue 其他收益 Other revenue amounted to approximately 本期間的其他收益約為人民幣0.2百萬元，同比RMB0.2 million for the Period, a year-on-year 增長100%（截至2024年6月30日止六個月：約人increase of 100% (Six months ended 30 June 2024: 民幣0.1百萬元）。 approximately RMB0.1 million). Selling Expenses 銷售開支 Selling expenses for the Period amounted to 本期間的銷售開支約為人民幣1.1百萬元，同比approximately RMB1.1 million, a year-on-year 減少8.3%（截至2024年6月30日止六個月：約人decrease of 8.3% (Six months ended 30 June 2024: 民幣1.2百萬元）。 approximately RMB1.2 million). Administrative Expenses 行政開支 Administrative expenses for the Period amounted 本期間的行政開支約為人民幣3.6百萬元，同時to approximately RMB3.6 million, a year-on-year 增加24%（截至2024年6月30日止六個月：約人increase of 24% (Six months ended 30 June 2024: 民幣2.9百萬元）。本期間行政開支的增加主要approximately RMB2.9 million). The increase in 用於服務公司的中介機構費用的增加。 administrative expenses for the Period was mainly attributable to an increase in intermediary fees for service companies. Impairment losses reversed/(recognised) under 預期信貸虧損模式下的減值虧損轉回╱（確認）the expected credit loss model, net 淨額 Recognition of the impairment losses on trade 本期間貿易及其他應收款項的確認減值虧損金and other receivables for the Period amounted to 額為人民幣2.2百萬元（截至2024年6月30日止六RMB2.2 million(Six months ended 30 June 2024: the 個月：減值虧損轉回約為人民幣1.0百萬元）。 impairment loss of approximately reverse RMB1.0 主要由於受回款情況影，一年以上的應收款million). Mainly due to the impact of payment 項余額有所增加。 collection, the balance of accounts receivable for more than one year has increased. Profit for the period 期內溢利 The Group recorded profit amounted to 本集團錄得期內溢利約為人民幣0.4百萬元（截approximately RMB0.4 million for the Period (Six 至2024年6月30日止六個月：溢利約為人民幣0.3months ended 30 June 2024: Profit of approximately 百萬元）。 RMB0.3 million). LIQUIDITY AND FINANCE RESOURCES 流動資金及財務資源 The Group’s working capital and other capital 本集團的?運資金及其他資本需求主要通過本requirements were principally satisfied by cash 集團的運?產生的現金、銀行借款及配售新股generated from the Group’s operations, bank 份來滿足。 borrowings and placing of new shares. As at 30 June 2025, the Group’s net current assets 於2025年6月30日，本集團的流動資產淨值約為amounted to approximately RMB33.8 million 人民幣33.8百萬元（於2024年12月31日：流動資(as at 31 December 2024: net current assets of 產淨值約人民幣34.2百萬元），其流動性於2025approximately RMB34.2 million), and its liquidity as 年6月30日（以流動比率，即流動資產除以流動represented by current ratio (calculated by dividing 負債計算）為2.0倍（於2024年12月31日：2.4倍）。 current assets by current liabilities) was 2.0 times as 於2025年6月30日，現金及現金等價物約為人民As at 30 June 2025, the Group had outstanding 於2025年6月30日，本集團有一筆未償還的定息bank loans with fixed interest rate of RMB1.5 million. 銀行貸款人民幣1.5百萬元。因此，本集團槓桿Therefore, gearing ratio of the Group was 4.4% 比率為4.4%（按銀行貸款除以總權益計算）。 (calculated by dividing bank loans by total equity). FUND RAISING ACTIVITIES 集資活動 Placing of New Shares Under General Mandate 根據一般授權配售新股份i) On 15 March 2024, the placing was i) 於2024年3月15日，配售事項已完成，completed and 36,000,000 new shares 36,000,000股新股份已按每股配售股份were issued to not less than six placees at a 0.488元之配售價發行予不少於六名承placing price of HK$0.488 per placing share. 配人。 As at 30 June 2025, the net proceeds of the 於2025年6月30日，已動用配售所得款項placing had been utilised as follows: 淨額如下： Remaining Remaining balance of balance of unutilised Net unutilised Proceeds proceeds proceeds proceeds as utilised up to as at from at 30 June 30 December 30 December the Placing 2024 2024 2024 於2024年 於2024年 6月30日 截至2024年 12月30日 未動用所得 12月30日 未動用所得 配售所得 款項餘下 已動用的 款項餘下 款項淨額 結餘 所得款項 結餘 ’ ’ ’ ’ HK$ 000 HK$ 000 HK$ 000 HK$ 000 千元 千元 千元 千元 General working capital 一般?運資金 17,392 15,202 15,202 – ii) On 13 August 2024 that the net proceeds of ii) 於2024年8月13日，供股所得款項淨額約approximately HK$53 million from the rights 為53百萬元。 issue. As at 30 June 2025, the net proceeds of the 於2025年6月30日，已動用配售所得款項placing had been utilised as follows: 淨額如下： Remaining Remaining balance of balance of Remaining unutilised Proceeds unutilised Amount balance Revised net proceeds utilised net proceeds Intended utilised up to as at allocation as at during the as at use of 31 December 31 December of unutilised 31 December Reporting 30 June net proceeds 2024 2024 net proceeds 2024 Period 2025 於2024年 於2025年 經修訂 12月31日 6月30日 分配的 未動用的 未動用 所得款項 截至2024年 於2024年 未動用 所得款項 於報告期內 所得款項淨額擬定 12月31日 12月31日的 所得款項 淨額的 已動用的 淨額的用途 已動用金額 餘下結餘 淨額 餘下結餘 所得款項 餘下結餘 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千元 千元 千元 千元 千元 千元 千元 Organisation and 籌辦及協調 coordination of 活動、展覽及 events, exhibitions 展會 and forums 19,900 – 19,900 – 1,800 1,800 – Provision of new media 新媒體?運服務 operation services 的提供 16,600 – 16,600 – – – – Development of cross- 跨境直播購物 border livestreaming 業務的發展 shopping business 6,600 – 6,600 – – – – Strategic cooperation 戰略合作或併購 or merger and acquisition 6,600 6,600 – – – – – General working capital 一般?運資金 3,300 1,600 1,700 – 1,700 1,700 –Trading of goods 交易貨品 – – – 37,300 – – – Loans to business 向廣告業務的 CAPITAL STRUCTURE 資本架構 As at the date of this report, the Company had 於本報告日期，本公司擁有432,000,000股已發 432,000,000 Shares in issue. 行股份。 PLEDGE OF ASSETS 質押資產 As at 30 June 2025, trade receivables of 於2025年6月30日，貿易應收款項約人民幣7.1百 approximately RMB7.1 million (31 December 2024: 萬元（2024年12月31日：人民幣12.1百萬元）質 RMB12.1 million) were pledged to secure the bank 押作為銀行借款的擔保。除上文所述外，本集 borrowings. Save for the above, the Group did not 團並無任何資產質押。 have any charges on its assets. DIVIDEND 股息 The board of Directors (the “Board”) has resolved 董事會（「董事會」）議決不宣派本期間的中期股 not to declare the payment of an interim dividend 息（截至2024年6月30日止六個月：無）。 for the Period (Six months ended 30 June 2024: nil). FOREIGN EXCHANGE EXPOSURE 外匯風險 Individual member companies within the Group 由於本集團內各成員公司大部分交易採用之貨 have limited foreign currency risk as most of the 幣與其業務所用功能貨幣相同，因此本集團內 transactions are denominated in the same currency 各公司僅承受有限之外幣風險。本集團將不時 as the functional currency of the operations in which 檢討及監察外匯風險。 they relate. The Group will review and monitor from time to time the risk relating to foreign exchange. SIGNIFICANT INVESTMENTS HELD 持有之重大投資 During the Period, the Group did not have any 於本期間，本集團概無任何重大投資。 significant investments. FUTURE PLANS FOR MATERIAL INVESTMENTS 未來重大投資及資本資產計劃 AND CAPITAL ASSETS During the Period, the Group did not have any plan 於本期間，本集團並無任何有關重大投資及資 for material investments and capital assets. 本資產的計劃。 CONTINGENT LIABILITIES 或然負債 As at 30 June 2025, the Directors of the Company 於2025年6月30日，本公司董事估計供應商可能 estimated that the possibility of legal claims from 提出法律索償及本集團需支付金額為人民幣4.0 the supplier and possible obligation of the Group 百萬元（即2019年簽訂的紀錄片贊助及內容合 in the amount of RMB4.0 million, representing the 作協議中與供應商的合約金額結餘）的潛在責 balance of contract sum with the supplier in relation 任。由於紀錄片的製作有所延誤，且未在協議 to the sponsorship and content collaboration 指定的頻道播出，本集團認為供應商未履行贊 agreement for a documentary entered in 2019. The 助及內容合作協議下的所有履約責任。本集團 Group believes that the supplier has not fulfilled all 仍在與供應商談判，結果尚未確定。除上文所 the performance obligations under the sponsorship 述外，本集團並無任何重大或然負債。 and content collaboration agreement, as there was a delay in production of the documentary and it was not broadcast on the channel specified in the agreement. The Group is still in negotiation with the supplier and the outcome is still pending. Save for the above, the Group did not have any significant contingent liabilities. MATERIAL ACQUISITIONS AND DISPOSALS 重大收購及出售附屬公司、聯?公司及合? OF SUBSIDIARIES, ASSOCIATES AND JOINT 公司 VENTURES During the Period, the Group did not have any 於本期間，本集團概無任何重大收購及出售附 material acquisitions and disposals of subsidiaries, 屬公司、聯?公司及合?公司。 associates and joint ventures. EMPLOYEE AND REMUNERATION POLICIES 僱員及薪酬政策 As at 30 June 2025, the Group had 30 employees 於2025年6月30日，本集團擁有30名僱員（2024 (31 December 2024: 39). They were all located in 年12月31日：39名）。彼等均位於中國廣州。 Guangzhou, the PRC. The number of employees 本集團聘用的僱員數目視乎需要而不時有所變 employed by the Group varies from time to time 化。僱員薪酬根據彼等的職責、資格、表現、 depending on needs. Employees’ remuneration 經驗及資歷釐定。本集團的標準薪酬組合可能 is determined based on their responsibilities, 括薪金、酌情花紅、實物福利及獎勵。本集 qualifications, performance, experience and 團僱員的薪酬政策及組合獲定期檢討。 seniority. The Group’s standard remuneration package may include salary, discretionary bonus, benefits in kind and incentive. The remuneration policy and package of the Group’s employees are reviewed periodically. Compensation of key executives of the Group is 本集團主要行政人員的酬金由董事會薪酬委員 reviewed by the remuneration committee of the 會根據本集團業績及行政人員各自對本集團的 Board, which is based on the Group’s performance 貢獻進行檢討。董事及高級管理層成員酬金根 and the executives’ respective contributions to 據彼等職責、責任、經驗、技能及時間奉獻， the Group. The remuneration of the Directors and 以及本集團業績釐定。 members of senior management is determined based on the duties, responsibilities, experience, skills and time commitment as well as the performance of the Group. The Company has adopted a share option scheme 本公司已採納購股權計劃（「購股權計劃」），計 (the “Share Option Scheme”) which became 劃於上市日期生效。詳情請參閱「購股權計 effective on the Listing Date. For details, please refer 劃」一節。 to the section headed “SHARE OPTION SCHEME”. EVENT AFTER THE REPORTING PERIOD 報告期後事項 Save for the above, there was no significant event 除上文所述外，2025年6月30日後並無發生重大 which took place after 30 June 2025. 事件。 RISKS AND HURDLES 風險及障礙 There are certain business risks associated with the 若干業務風險乃與本集團的正常業務過程有 Group’s normal course of business, the business risks 關，本集團或會遭致之業務風險載於下文： the Group may encounter are as follows: (i) the Group may not be able to retain or renew (i) 本集團可能無法保留或更新現有的廣告 the existing supply of advertising resources 固定資源的供應，或無法為客戶獲取新 or obtain new advertising resources for 的廣告資源，從而可能導致客戶流失和 the customers, which may lead to loss of 業務虧損； customers and businesses; (ii) the expansion from traditional advertising (ii) 從傳統廣告向網上廣告的擴張可能面臨 to online advertising may face tremendous 巨大的競爭及額外成本的發生； competition and additional costs; (iii) the customers may delay the settlement of (iii) 客戶可能延遲結算應收賬款，從而可能 the accounts receivable, which may result in 造成一定的信貸風險；及 a certain credit risk; and (iv) the customers may decrease its advertising (iv) 由於經濟放緩，客戶可能會減少廣告預 budget due to the economy slow-down. 算。 CORPORATE GOVERNANCE 企業管治 The Directors recognize the importance of good 董事深明在管理及內部程序方面實行良好企業 corporate governance in management and internal 管治以促進及確保問責的重要性。本公司的企 procedures to promote and ensure accountability. 業管治常規乃基於GEM上市規則附錄C1所載企 The Company’s corporate governance practices are 業管治守則（「企業管治守則」）「第二部分 — 良 based on the principles and code provisions as set 好企業管治的原則、守則條文及建議最佳常規」 out in the section headed “Part 2 — Principles of 一節載列的原則及守則條文。於本期間， 本公 good corporate governance, code provisions and 司已遵守企業管治守則所載的所有守則條文， recommended best practices” of the Corporate 並將繼續遵守企業管治守則。 Governance Code as set out in Appendix C1 to the GEM Listing Rules (the “Corporate Governance Code”). During the Period, the Company has complied with all the code provisions as set out in the Corporate Governance Code and it will continue to comply with the Corporate Governance Code. MODEL CODE FOR SECURITIES 董事進行證券交易的標準守則 TRANSACTIONS BY THE DIRECTORS The Company has adopted a code of conduct 本公司按與GEM上市規則第5.48至5.67條所載交 regarding securities transactions by the Directors on 易必守標準相同的條款採納董事進行證券交易 terms which are the same as the required standard 之行為守則。 of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules. The Company periodically issues notices to 本公司定期向其董事發出通告，提醒彼等於刊 its Directors reminding them of the absolute 發財務業績公告前的禁售期內絕對禁止買賣本 prohibition on dealing in the Company’s listed 公司的上市證券。經本公司作出特定查詢後， securities during the blackout periods before the 全體董事確認，於本期間，彼等均已遵守有關 publication of announcements of financial results. 證券交易之交易必守標準及行為守則。 Having made specific enquiry by the Company, all Directors confirmed that they had complied with the required standard of dealings and code of conducts regarding securities transactions during the Period. COMPETING INTEREST 競爭權益 During the Period, none of the Directors, or 於本期間，本公司董事或主要股東（ 定義見 substantial shareholders (as defined in the GEM GEM上市規則）或彼等各自緊密聯繫人（ 定義見 Listing Rules) of the Company or their respective GEM上市規則）概無從事與本集團業務直接或 close associates (as defined in the GEM Listing Rules) 間接構成競爭或可能構成競爭的任何業務或於 had engaged in or had any interest in any business 該等業務中擁有權益，而該等業務及權益須根 which competes or is likely to compete, either 據GEM上市規則第11.04條予以披露，彼等與本 directly or indirectly, with the business of the Group 集團亦無任何利益衝突。 and which requires disclosure pursuant to Rule 11.04 of the GEM Listing Rules, nor did they have any conflict of interest with the Group. PURCHASE, SALE OR REDEMPTION OF THE 購買、出售或贖回本公司上市證券 COMPANY’S LISTED SECURITIES The Company did not redeem its listed securities nor 於本期間，本公司概無贖回其上市證券或本公 did the Company or any of its subsidiaries purchase 司或其任何附屬公司概無購買或出售任何有 or sell any of such securities during the Period. 關證券。本公司或其任何附屬公司於本期間概 Neither the Company nor any of its subsidiaries had 無發行或授出任何可轉換證券、期權、認股權 issued or granted any convertible securities, options, 證或相似權利，亦無行使任何可轉換證券、期 warrants or similar rights or exercise any conversion 權、認股權證相關之任何轉換或認購權利或相 or subscription rights under any convertible 似權利。 securities, options, warrants or similar rights during the Period. SHARE OPTION SCHEME 購股權計劃 A share option scheme (the “Share Option 本公司於2019年12月11日有條件採納一項購股 Scheme”) has been conditionally adopted by the 權計劃（「購股權計劃」），自2020年1月14日 Company on 11 December 2019, with an effective 計10年期間內生效。 term of 10 years from 14 January 2020. As no share option has been granted by the 由於自上市日期本公司並無根據購股權計劃 Company under the Share Option Scheme since the 授出購股權，故於2025年6月30日並無尚未行使 Listing Date, there was no share option outstanding 的購股權，且於本期間並無購股權已授出、行 as at 30 June 2025 and no share option was granted, 使、註銷或失效。於2025年1月1日及2025年6月 exercised, cancelled or lapsed during the Period. 30日，根據購股權計劃可供授出的購股權數目 The number of options available for grant under 分別為18,000,000份。於本報告日期，根據購股 the Share Option Scheme was 18,000,000 as at 1 權計劃可供發行的股份總數為18,000,000股，佔 January 2025 and 30 June 2025, respectively. As at 本公司於本報告日期已發行股本的4.17%。 the date of this report, the total number of Shares available for issue under the Share Option Scheme was 18,000,000, representing 4.17% of the issued share capital of the Company as at the date of this report. DIRECTORS’ AND CHIEF EXECUTIVES’ 董事及最高行政人員於股份、相關股份及債 INTERESTS AND SHORT POSITIONS IN 權證的權益及淡倉 SHARES, UNDERLYING SHARES AND DEBENTURES As at 30 June 2025, the interests and short positions 於2025年6月30日，董事及最高行政人員於本公 of the Directors and chief executives in the Shares, 司或其相聯法團（定義見證券及期貨條例（「證 underlying shares and debentures of the Company 券及期貨條例」）第XV部）的股份、相關股份及 or its associated corporations (within the meaning 債權證中擁有(a)根據證券及期貨條例第XV部第 of Part XV of the Securities and Futures Ordinance 7及第8分部須知會本公司及聯交所的權益及淡 the “SFO”)), which were required (a) to be notified 倉（括彼等根據證券及期貨條例之有關條文 to the Company and the Stock Exchange pursuant 被當作或視為擁有之任何權益或淡倉）；或(b) to Divisions 7 and 8 of Part XV of the SFO (including 根據證券及期貨條例第352條登記於該條所指 any interests or short positions which they were 的登記冊內的權益及淡倉；或(c)根據GEM上市 taken or deemed to have under such provisions of 規則第5.46至5.67條須知會本公司及聯交所的權 the SFO); or (b) pursuant to section 352 of the SFO, 益及淡倉如下： to be entered in the register referred to therein; or (c) to be notified to the Company and the Stock Exchange pursuant to Rules 5.46 to 5.67 of the GEM Listing Rules were as follows: As at 30 June 2025, none of the Directors and 於2025年6月30日，概無本公司董事及最高行政 chief executive of the Company had any interest 人員中於本公司及其相聯法團（定義見證券及 or short position in the shares, underlying shares 期貨條例第XV部）的股份、相關股份及債券中 and debentures of the Company and its associated 擁有根據證券及期貨條例第XV部第7及8分部須 corporation (within the meaning of Part XV of the 知會本公司及聯交所的任何權益及淡倉（括 SFO) which were required to be notified to the 根據證券及期貨條例有關條文持有或被視為擁 Company and the Stock Exchange pursuant to 有的權益及淡倉）；或本公司根據證券及期貨 Divisions 7 and 8 of Part XV of the SFO (including 條例第352條存置的登記冊；或根據GEM上市規 interests and short positions in which they were 則第5.46至5.67條須知會本公司及聯交所的權益 taken or deemed to have under such provisions 及淡倉。 of the SFO); or which were required pursuant to section 352 of the SFO, to be entered in the register maintained by the Company referred to therein; or which were required pursuant to the Rules 5.46 to 5.67 of the GEM Listing Rules, to be notified to the Company and the Stock Exchange. SUBSTANTIAL SHAREHOLDERS’ INTERESTS 主要股東於股份、相關股份及債權證中的權 IN SHARES, UNDERLYING SHARES AND 益 DEBENTURES As at 30 June 2025, the following entities (not being 於2025年6月30日，以下實體（並非董事或本公 the Directors or chief executives of the Company) 司最高行政人員）於本公司股份及相關股份中 had, or were deemed to have, interests or short 擁有或被視為擁有根據證券及期貨條例第XV部 positions in the Shares and underlying shares of 第2及3分部之規定須向本公司及聯交所披露的 the Company which would fall to be disclosed 權益或淡倉或須記入本公司根據證券及期貨條 to the Company and the Stock Exchange under 例第336條存置之權益登記冊內的權益或淡倉： the provisions of Divisions 2 and 3 of Part XV of the SFO or which were required to be recorded in the register of interests required to be kept by the Company under Section 336 of the SFO: Approximate Number of percentage of Capacity/ Shares held shareholding (%) Name of Directors nature of interest (Note 1) (Note 8) 概約持股 持股數目 百分比(%) 董事名稱 身份╱權益性質 （附註1） （附註8） Shining Icon (Note 2) Beneficial Owner 45,000,000 Shares (L) 10.42%Shining Icon（附註2） 實益擁有人 45,000,000股股份(L) 10.42% Capital Realm Financial Holdings Limited (Note 3) Beneficial Owner 42,750,000 Shares (L) 19.79%資本界金控集團有限公司（附註3） 實益擁有人 42,750,000股股份(L) 19.79%Focus Wonder Limited (Note 4) Beneficial Owner 33,750,000 Shares (L) 7.81%Focus Wonder Limited（附註4） 實益擁有人 33,750,000股股份(L) 7.81%China Hui Shang Enterpriser Association International Beneficial Owner 20,000,000 Shares (L) 9.26%Group Limited (Note 5) 中華徽商企業家協會國際集團有限公司（附註5） 實益擁有人 20,000,000股股份(L) 9.26%Approximate Number of percentage of Capacity/ Shares held shareholding (%) Name of Directors nature of interest (Note 1) (Note 8) 概約持股 持股數目 百分比(%) 董事名稱 身份╱權益性質 （附註1） （附註8） Maofu Trade Co., Limited (Note 6) Beneficial Owner 31,383,000 7.26%茂福貿易有限公司（附註6） 實益擁有人 31,383,000 7.26% Baocheng Holdings Limited (Note 7) Beneficial Owner 56,334,000 13.04%保成控股有限公司（附註7） 實益擁有人 56,334,000 13.04% Notes: 附註： 1. The Letter “L” denotes a long position in our shares 1. 字母「L」指於股份的好倉。 2. Shining Icon is wholly-owned by Mr. Chow Eric 2. Shining Icon由周子濤先生（「周先生」）全資擁 Tse To (“ ”) who was a former chairman Mr. Chow 有，彼為本公司前主席及前執行董事。因此， and former executive director of the Company. 周先生根據證券及期貨條例被視為於Shining Therefore, Mr. Chow is deemed to be interested in Icon持有的股份中擁有權益。 the Shares held by Shining Icon pursuant to SFO. 3. Capital Realm Financial Holdings Group Limited is 3. 資本界金控集團有限公司於香聯合交易所 listed on The Stock Exchange of Hong Kong Limited 有限公司上市（股份代號：204）。 (stock code: 204). 4. Focus Wonder Limited and Master Connection 4. Focus Wonder Limited及Master Connection Limited are wholly-owned by Guo Tong Limited由Guo Tong International Holdings Limited International Holdings Limited which is in turn 全資擁有，而Guo Tong International Holdings held as to 72% and 28% by Hainan Guoping Digital Limited則分別由海南國平數字產業科技有限 Industry Technology Co., Ltd.（海南國平數字產業 公司及深圳市前海國平資本管理有限公司擁 科技有限公司）and Shenzhen Qianhai Guoping 有72%及28%。 Capital Management Co., Ltd.（深圳市前海國平資 , respectively. 本管理有限公司） 5. China Hui Shang Enterpriser Association 5. 中華徽商企業家協會國際集團有限公司由張 6. Maofu Trade Co., Limited is wholly owned by Mr. 6. 茂福貿易有限公司由王磊先生全資擁有。 Wang Lei . （王磊） 7. Baocheng Holdings Limited is wholly owned by 7. 保成控股有限公司由慧通雲國際控股集團有Huitongyun International Holding Group Limited 限公司全資擁有，而後由四川慧通雲企業 which is 99% owned by Sichuan Huitong Cloud 管理集團有限公司持股99%。 Enterprise Management Group Co., Ltd. 8. The calculations is based on the total number of 8. 此乃根據於2025年6月30日已發行股份總數 432,000,000 Shares in issue as at 30 June 2025. 432,000,000股計算得出。 Save as disclosed above, as at 30 June 2025, no other 除上文所披露外，於2025年6月30日，概無其 entities or persons other than the Directors and 他實體或人士（董事及本公司最高行政人員除 chief executives of the Company whose interests 外，其權益載於上文「董事及最高行政人員於 are set out in the paragraph headed “Directors’ and 股份、相關股份及債權證的權益及淡倉」一段） chief executives’ interests and short positions in 於股份或相關股份中擁有根據證券及期貨條例 Shares, underlying shares and debentures” above, 第XV部第2及3分部之規定須向本公司及聯交所 had any interests or short positions in the Shares 披露的任何權益或淡倉，或須記入本公司根據 or underlying Shares which were required to be 證券及期貨條例第336條存置之登記冊內的任 disclosed to the Company and the Stock Exchange 何權益或淡倉。 under the provisions of Divisions 2 and 3 of Part XV of the SFO; or which were required to be recorded in the register required to be kept by the Company under Section 336 of the SFO. AUDIT COMMITTEE AND REVIEW OF INTERIM 審核委員會及審閱中期業績 RESULTS The audit committee of the Board (the “Audit 董事會審核委員會（「審核委員會」）負責審閱及 Committee”) is responsible for reviewing and 監督本集團的財務報告流程、風險管理及內部 providing supervision over the Group’s financial 控制系統，並向董事會提供建議。本公司成立 reporting process, risk management and internal 審核委員會，並遵照GEM上市規則訂立書面職 control system, and providing advice to the Board. 權範圍。 The Company established the Audit Committee with written terms of reference in compliance with the GEM Listing Rules. The Audit Committee consists of three independent 審核委員會括三名獨立非執行董事，即田濤non-executive Directors, namely Mr. Tian Tao, Mr. 先生，劉立漢先生及吳洲先生。審核委員會已Liu Lihan and Mr. Ng Chau. The Audit Committee 聯同管理層審閱本集團採納的會計政策及慣has reviewed with the management the accounting 例，並與管理層討論本公司的內部控制及財務policies and practices adopted by the Group and 報告事宜，括審閱本集團本期間的未經審核discussed with the management the internal 綜合業績（「業績」）及本報告。審核委員會認control and financial reporting matters of the 為，編製業績符合適用會計準則、GEM上市規Company, including the review of the unaudited 則及法律規定， 並已作出足夠披露。 consolidated results of the Group for the Period (the “Results”) and this report. The Audit Committee is of the opinion that the Results have been prepared in compliance with the applicable accounting standards, the GEM Listing Rules and legal requirements and that adequate disclosure has been made. By order of the Board 承董事會命 Icon Culture Global Company Limited 天泓文創國際集團有限公司Chen Zongxian 主席 Chairman 陳宗憲 Hong Kong, 29 August 2025 香，2025年8月29日 (Expressed in Renminbi) （以人民幣列示） Six months ended 30 June 截至6月30日止六個月 2025 2024 2025年 2024年 Note RMB’000 RMB’000 附註 人民幣千元 人民幣千元 Revenue 收益 2 12,703 20,258 Cost of sales 銷售成本 (5,478) (16,987) Gross profit 毛利 7,225 3,271 Other revenue 其他收益 247 84 Selling expenses 銷售開支 (1,091) (1,174) Administrative expenses 行政開支 (3,619) (2,859) Impairment loss (recognised)/ 預期信貸虧損模式下的 reversed under the expected 減值虧損（確認）╱轉回 credit loss model, net 淨額 (2,237) 1,033 Profit from operations 經?溢利 525 355 Finance costs 財務費用 3(a) (94) (103) Profit before taxation 除稅前溢利 3 431 252 Income tax 所得稅 4 – – Profit for the period 期內溢利 431 252 Earning per share (RMB) 每股盈利（人民幣） 5 Basic 基本 0.001 0.001 Diluted 攤薄 0.001 0.001 The notes on pages 34 to 56 form part of this interim financial report.第34至56頁的附註構成本中期財務報告的一部分。 (Expressed in Renminbi) （以人民幣列示） Six months ended 30 June 截至6月30日止六個月 2025 2024 2025年 2024年 RMB’000 RMB’000 人民幣千元 人民幣千元 Profit for the period 期內溢利 431 252 Other comprehensive income 期內其他全面收益 for the period Exchange differences on translation of 換算不使用人民幣 financial statements of entities not （「人民幣」）作為功能 using Renminbi (“RMB”) as functional 貨幣的實體財務報表的 currency 匯兌差額 (970) 22 Total comprehensive (expense)/ 本公司權益股東應佔期內 income for the period attributable 全面（開支）╱收益總額 to equity shareholders of the Company (539) 274 (Expressed in Renminbi) （以人民幣列示） At At 30 June 31 December 2025 2024 於2025年 於2024年 6月30日 12月31日 Note RMB’000 RMB’000 附註 人民幣千元 人民幣千元 Non-current assets 非流動資產 Property, plant and equipment 物業、廠房及設備 505 652 Total non-current assets 非流動資產總額 505 652 Current assets 流動資產 Trade receivables 貿易應收款項 6 17,108 2,316 Other receivables, deposits and 其他應收款項、存款及 prepayments 預付款項 7 48,006 51,447 Restricted deposits with a bank 存放在一間銀行的 受限制存款 7 7 Cash and cash equivalents 現金及現金等價物 1,003 4,070 Total current assets 流動資產總額 66,124 57,840 Current liabilities 流動負債 Trade and other payables 貿易及其他應付款項 8 11,802 11,079 Contract liabilities 合約負債 16,290 5,249 Bank loans 銀行貸款 9 1,500 4,500 Current taxation 即期稅項 2,708 2,796 Total current liabilities 流動負債總額 32,300 23,624 Net current assets 流動資產淨值 33,824 34,216 (Expressed in Renminbi) （以人民幣列示） At At 30 June 31 December 2025 2024 於2025年 於2024年 6月30日 12月31日 Note RMB’000 RMB’000 附註 人民幣千元 人民幣千元 Net assets 資產淨值 34,329 34,868 Capital and reserves 資本及儲備 Share capital 股本 10 3,906 3,906 Reserves 儲備 30,423 30,962 Total equity 權益總額 34,329 34,868 Approved and authorised for issue by the board of 經董事會於2025年8月29日批准及授權刊發。 directors on 29 August 2025. (Expressed in Renminbi) （以人民幣列示） Share Share Other Statutory Exchange Accumulated capital premium reserve reserve reserve loss Total 股本 股份溢價 其他儲備 法定儲備 匯兌儲備 累計虧損 總計 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 Balance at 1 January 2025 於2025年1月1日的結餘 3,906 154,874 (11,907) 8,407 1,622 (122,034) 34,868 Changes in equity for the six months 截至2025年6月30日止六個月ended 30 June 2025 權益變動︰ Profit for the period 期內溢利 – – – – – 431 431 Other comprehensive expenses 其他全面開支 – – – – (970) – (970) Total comprehensive (expenses)/income 全面（開支）╱收益總額 – – – – (970) 431 (539) Balance at 30 June 2025 於2025年6月30日的結餘 3,906 154,874 (11,907) 8,407 652 (121,603) 34,329 Share Share Other Statutory Exchange Accumulated capital premium reserve reserve reserve loss Total 股本 股份溢價 其他儲備 法定儲備 匯兌儲備 累計虧損 總計 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 Balance at 1 January 2024 於2024年1月1日的結餘 1,596 91,866 (11,907) 8,407 (45) (104,220) (14,303) Changes in equity for the six months 截至2024年6月30日止六個月ended 30 June 2024 權益變動︰ Profit for the period 期內溢利 – – – – – 252 252 Other comprehensive income 其他全面收益 – – – – 22 – 22 Total comprehensive income 全面收益總額 – – – – 22 252 274 Placing of new shares (Note 10(a)(i)) 配售新股份（附註10(a)(i)） 327 15,442 – – – – 15,769Balance at 30 June 2024 於2024年6月30日的結餘 1,923 107,308 (11,907) 8,407 (23) (103,968) 1,740 (Expressed in Renminbi) （以人民幣列示） Six months ended 30 June 截至6月30日止六個月 2025 2024 2025年 2024年 RMB’000 RMB’000 人民幣千元 人民幣千元 Operating activities 經?活動 Cash used in operations ?運所用現金 1,019 (9,752) Income tax paid 已付所得稅 – (90) Net cash used in operating 經?活動所用現金淨額（未完）  |