亨得利二零二五年中期报告

(Incorporated in the Cayman Islands with limited liability)Stock Code股份代號 :3389(於開曼群島註冊成立之有限公司) 2025INTERIM REPORT中期報告 CONTENTS目錄 2Financial Highlights財務概要3Chairman’s Statement主席報告書7Management Discussion and Analysis管理層討論與分析22Report of Directors董事會報告書32Corporate Governance企業管治事宜35Consolidated Statement of Profit or Loss綜合損益表37Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收入表39Consolidated Statement of Financial Position綜合財務狀況表42Consolidated Statement of Changes in Equity綜合權益變動表45Condensed Consolidated Cash Flow Statement簡明綜合現金流量表47Notes to the Unaudited Interim Financial Report未經審核中期財務報告附註73Corporate Information公司資料 FINANCIAL H IGHLIGHTS財務概要 CHAIRMAN’S STATEMENT主席報告書 Dear Shareholders, In the first half of 2025, the global environmentremained complex and volatile, with uncertaintiessuchas increasing trade barriers,intensifyingtradefrictions and continuing geopoliticalconflictsweighing on the momentum of globaleconomicgrowth.Under these pressures,China’seconomic growth slowed down butmaintainedstable amidst multiple domesticandexternal challenges.Still,the country’seconomy remained resilient as it carried on withsteady and sound development. In the face ofacomplex and volatile operating environment,the Group has adapted its business to marketchanges by adhering to the principle of “sound,steadyand long-term operations”in order topreserveits market position and pursue newopportunitiesas well as make every effort tosafeguard the interests of its shareholders. 314,314,000580,361,0004 5 . 8 %248,095,0003 5 2 , 3 3 9 , 0 0 029.6%66,219,000228,022,0007 1 . 0 %26,033,000499,00026,308,000 Forthe six months ended 30 June 2025(the“periodunder review”),the Group recordedrevenue of RMB314,314,000 (six months ended30June 2024:RMB580,361,000),representingayear-on-year decrease of 45.8%.High-endconsumingaccessories business recordedr e v e n u eo f R M B 2 4 8 , 0 9 5 , 0 0 0( s i x m o n t h se n d e d3 0 J u n e 2 0 2 4 :R M B 3 5 2 , 3 3 9 , 0 0 0 ) ,representing a year-on-year decrease of 29.6%.Theinternational commodity trading businessr e c o r d e dr e v e n u e o f R M B66,219,000( s i xmonths ended 30 June 2024: RMB228,022,000),representing a year-on-year decrease of 71.0%.In the first half of the year, the Group recordeda profit of RMB26,033,000 (six months ended 30June 2024: profit of RMB499,000), and recorded 2,504,000 aprofit attributable to equity shareholders ofRMB26,308,000(six months ended 30 June2024:loss of RMB2,504,000).The profit wasmainlydue to the foreign exchange gainsincurredby the operating units as a result ofexchange rate fluctuations. Duringthe period under review,faced withuncertaintiesin the international market ands l o w i n gd o m e s t i c e c o n o m i c g r o w t h ,t h edevelopment of the Group’s high-end consumingaccessoriesbusiness continued to be underpressure. The Group adopted various measuresto address the complex economic environmentbyfocusing on the Company’s foundationwithstability and innovation for development,continuouslybroadening business models,expanding new customers and developing newproducts,adopting various measures to copewiththe risks,which improved gross profitmarginand effectively controlled expenses.Duringthe period under review,due to theimpact of the operating environment and otherfactors,the high-end consuming accessoriesbusinessrecorded a year-on-year decrease interms of both sales performance and profit. Duringthe period under review,due to thecomplexand volatile international economicenvironment, the high fluctuation in the minerals a n dp r i c e s a n d t h e a f f e c t e d c u s t o m e r s ’purchase intention, the international commoditytradingbusiness recorded a year-on-yeardecreasein terms of both sales and profits.Duringthe period under review,the Groupcontinuedto deepen its efforts in traditionalshippingroutes and vigorously expanded itsoperationsand markets to provide customerswithshipping service of good quality.In thefirst half of the year, there was a higher volatilityin the global dry bulk market, and the Group’sshipping business recorded a decrease in termsof both revenue and profit. At present, the international political and economicenvironment is experiencing increased turbulence,with trade barriers and trade frictions worsening.Facingthis severe external environment,theeconomy of Mainland China is also encounteringdifficulties and challenges, including insufficientd e m a n d ,s l u g g i s h c o n s u m p t i o n a w a i t i n gstimulation, and ongoing structural adjustments.Nevertheless, the economy of Mainland China hasa stable foundation, strong resilience and greatpotential, and the long-term positive developmentt r a j e c t o r yr e m a i n s u n c h a n g e d .W i t h t h eimplementation and refinement of various policiesandmeasures by the Chinese government,wemaintain full confidence in the long-termsustainable economic growth of Mainland China. Inthe second half of the year,the G