绿领控股2025年中期报告

INTERIM REPORT CONTENTS Management Discussion and Analysis4 Other Information 17 Condensed Consolidated Statement of Profit or Loss29 Condensed Consolidated Statement ofProfit or Loss and Other Comprehensive Income31 Condensed Consolidated Statement of Financial Position32 Condensed Consolidated Statement of Changes in Equity35 Condensed Consolidated Statement of Cash Flows36 Notes to the Condensed Consolidated InterimFinancial Information38 Corporate Information BOARD OF DIRECTORSExecutive Directors Mr. Tse Michael Nam(Chairman and Chief Executive Officer)Ms. An Juan Independent Non-executive DirectorsMr. Ho Kin Cheong KelvinMr. Shen WeidongMr. Tian Hong AUDIT COMMITTEE Mr. Ho Kin Cheong Kelvin(Chairman of the Committee)Mr. Shen WeidongMr. Tian Hong REMUNERATION COMMITTEE Mr. Tian Hong(Chairman of the Committee)Mr. Ho Kin Cheong KelvinMr. Shen Weidong NOMINATION COMMITTEE Mr. Tse Michael Nam(Chairman of the Committee)Ms. An Juan(appointed on 23 June 2025)Mr. Ho Kin Cheong KelvinMr. Shen WeidongMr. Tian Hong RISK MANAGEMENT COMMITTEE Mr. Tse Michael Nam(Chairman of the Committee)Mr. Ho Kin Cheong KelvinMr. Shen WeidongMr. Tian Hong COMPANY SECRETARYMr. Chan Cheuk Ho AUTHORIZED REPRESENTATIVESMr. Tse Michael NamMr. Chan Cheuk Ho REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS 88–988812A Unit A, 12/F.Central 8888–98 Des Voeux Road CentralHong Kong PRINCIPAL BANKER 55E1D Bank of Communications (Hong Kong) LimitedShop E1 & Portion of Shop D, G/F.Lee Kee BuildingNo. 55 Ngau Tau Kok Road, KowloonHong Kong LEGAL CONSULTANT CLKW Lawyers LLP16-181191901A 1902 1902A CLKW Lawyers LLP in association withMichael Li & Co.Rooms 1901A, 1902 & 1902A, 19/F.New World Tower I16-18 Queen’s Road CentralHong Kong INDEPENDENT AUDITOR 188101003-05 Jon Gepsom CPA LimitedRoom 1003-05, 10/F., Siu On Centre188 Lockhart RoadWan Chai, Hong Kong PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F., Far East Finance Centre16 Harcourt RoadHong Kong WEBSITE http://www.irasia.com/listco/hk/greenleader http://www.irasia.com/listco/hk/greenleader Management Discussion and Analysis The board (the “Board”) of directors (the “Director(s)”) of GreenLeader Holdings Group Limited (the “Company”) is pleased topresent the unaudited condensed consolidated interim financialinformation of the Company and its subsidiaries (collectively, the“Group”) for the six months ended 30 June 2025 (the “Period”)together with the comparative figures for the correspondingperiod in 2024 and the relevant explanatory notes. BUSINESS REVIEW Overview In the first half of 2025, the global economic environmentfaced numerous challenges and uncertainties, including theimplementation of the reciprocal tariff policy by the U.S. andthe escalation of geopolitical conflicts in the Middle East, whichcaused significant market volatility. Being supported by thetemporary easing of Sino-U.S. trade frictions and the policystimulus measures, China’s economy demonstrated strongresilience, with GDP growth reaching 5.3% in the first half of2025. 5.3% Coal Operation During the Period, the Group continued to advance itsbusinesses of coal processing, coal mixing, sales of coalproducts, and the provision of coal-related services. Despitethe impact of weaker overall market demand, revenue declinedslightly compared with the corresponding period in 2024, butthe Group’s overall operations remained stable, demonstrating astrong ability to withstand pressure and operational resilience. Management Discussion and Analysis BUSINESS REVIEW (CONTINUED) Coal Operation (Continued) Against an external environment of oversupply in the coking coalmarket and a slowdown in the procurement pace of downstreamsteel and coking enterprises, the Group is committed toconsolidating long-term cooperative relationships with existingcustomers, ensuring the continuity and reliability of its existingbusinesses. Leveraging its continuous investment in coalprocessing technologies over the years, the Group continues toapply advanced coal washing processes to improve the qualityof clean coal, so as to meet customers’ rising requirements forhigh-efficiency, low-emission raw materials. At the same time,based on the actual needs of different customers, the Groupmaintains flexible supply arrangements, further enhancingservice stickiness and customer satisfaction. During the Period, the Group focused its business priorities onensuring safe production, stabilizing supply chain operations,and deepening customer collaboration, fully reflecting itsstrategic policy of adhering to prudent opera