中国天保集团2025中期报告

中 國 天 保 集 團 發 展 有 限 公 司China Tianbao Group Development Company Limited （Incorporated in the Cayman Islands with limited liability）（於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） Stock Code: 01427 2025INTERIM REPORT CONTENTS Page 2CORPORATE INFORMATION6FINANCIAL HIGHLIGHT8BUSINESS REVIEW AND PROSPECT11MANAGEMENT DISCUSSION AND ANALYSIS39CORPORATE GOVERNANCE AND OTHERINFORMATION47INTERIM CONDENSED CONSOLIDATEDSTATEMENT OF PROFIT OR LOSS48INTERIM CONDENSED CONSOLIDATEDSTATEMENT OF COMPREHENSIVE INCOME49INTERIM CONDENSED CONSOLIDATEDSTATEMENT OF FINANCIAL POSITION51INTERIM CONDENSED CONSOLIDATEDSTATEMENT OF CHANGES IN EQUITY53INTERIM CONDENSED CONSOLIDATEDSTATEMENT OF CASH FLOWS54NOTES TO INTERIM CONDENSEDCONSOLIDATED FINANCIAL STATEMENTS81BREAKDOWN OF PROPERTIES CORPORATE INFORMATION BOARD OF DIRECTORSExecutive Directors Mr. Li Baotian(Chairman of the Board)Ms. Shen Lifeng(Chief Executive Officer)Ms. Wang XinlingMr. Li YaruixinMs. Wang HuijieMr. Zang Lin Independent Non-Executive Directors Mr. Hou LiangMr. Li QingxuMr. Li Xu AUDIT COMMITTEE Mr. Li Xu(Chairman)Mr. Hou LiangMr. Li Qingxu REMUNERATION COMMITTEE Mr. Li Qingxu(Chairman)Mr. Hou LiangMr. Li XuMs. Wang XinlingMr. Li Yaruixin NOMINATION COMMITTEE Mr. Li Baotian(Chairman)Ms. Shen LifengMr. Hou LiangMr. Li QingxuMr. Li Xu CORPORATE INFORMATION INVESTMENT DECISION COMMITTEE Mr. Li Baotian(Chairman)Ms. Shen LifengMs. Wang XinlingMr. Li YaruixinMs. Wang HuijieMr. Zang LinMr. Hou LiangMr. Li XuMs. Liu Dandan(Senior management)Mr. Li Zhengmao STRATEGIC PLANNING COMMITTEE Mr. Li Baotian(Chairman)Ms. Shen LifengMs. Wang XinlingMr. Li YaruixinMs. Wang HuijieMr. Zang LinMr. Hou LiangMr. Li Qingxu LEGAL ADVISOR 8353502–3503 Jia Yuan Law OfficeSuites 3502–350335/F, One Exchange Square8 Connaught Place, CentralHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands CORPORATE INFORMATION HONG KONG SHARE REGISTRAR 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong REGISTERED OFFICE Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN CHINA No. 33, Guanyun East RoadZhuozhou CountyHebei Provincethe PRC 33 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 186–1883101–3102 Room 3101–3102Hong Kong Plaza186–188 Connaught Road WestHong Kong AUDITOR 511515101517 CCTH CPA LimitedUnit 1510–1517, 15/F., Tower 2Kowloon Commerce CentreNo. 51 Kwai Cheong RoadKwai Chung, New TerritoriesHong Kong COMPANY SECRETARY AUTHORISED REPRESENTATIVES Mr. Li YaruixinMr. Liu Tsz Kit PRINCIPAL BANKS China Construction Bank Corporation, Zhuozhou Wutan BranchBank of Communications (Hong Kong) Limited COMPANY’S WEBSITEwww.chinatbjt.com www.chinatbjt.com 1427 STOCK CODE1427 (852) 2792 1388(852) 2792 1488zhongguotianbao@chinatbjt.com COMMUNICATION WITH INVESTORS Telephone:(852) 2792 1388Fax:(852) 2792 1488E-mail:zhongguotianbao@chinatbjt.com FINANCIAL HIGHLIGHT 2025630 The board (the “Board”) of directors (the “Directors”) of ChinaTianbao Group Development Company Limited (the “Company”)is pleased to present the interim report and the unaudited interimcondensed consolidated financial information of the Company and itssubsidiaries (collectively the “Group”) for the six months ended June30, 2025 (the “Reporting Period”). 827202463020246(0.8%)70020247(1.0%)127202413(11.4%)2025528 During the Reporting Period, the Group’s revenue was approximatelyRMB827 million, representing an increase of approximately RMB6million (0.8%) as compared to the six months ended June 30,2024 (the “2024 Corresponding Period”). The Group’s revenueof construction contracting business was approximately RMB700million, representing a decrease of approximately RMB7 million (1.0%)as compared to the 2024 Corresponding Period. The Group’s revenueof property development business was approximately RMB127million, representing an increase of approximately RMB13 million(11.4%) as compared to the 2024 Corresponding Period. The Grouphas not recorded any revenue from its healthcare business as itsJingbei Health City has not recognized any revenue since its officialoperation on May 28, 2025, and such healthcare project is still underfurther construction. 394.8% The Group’s gross profit and gross profit margin for the ReportingPeriod were approximately RMB39 million and 4.8%, respectively. 35202428 T h e G r o u p ’ s u n d e r l y i n g l o s s f o r t h e R e p o r t i n g P e r i o d w a sapproximately RMB35 million, as compared to the underlying loss ofapproximately RMB28 million for the 2024 Corr