粤港湾控股2025中期报告

(( CO N T E N T S Corporate Profile2Corporate Information3Management Discussion and Analysis6Disclosure of Interest13Corporate Governance and Other Information17Independent Review Report25Condensed Consolidated Statement of Profit or Loss28Condensed Consolidated Statement of Comprehensive Income29Condensed Consolidated Statement of Financial Position30Condensed Consolidated Statement of Changes in Equity32Condensed Consolidated Cash Flow Statement34Notes to the Unaudited Interim Condensed Consolidated Financial Statements36 CORPORATE PROFILE 2020714201310 3101396.HK Guangdong – Hong Kong Greater Bay Area Holdings Limited (formerlyknown as Hydoo International Holding Limited before 14 July 2020, the“Company”, or“GHKGBA Holdings”) is listed on the main board of theHong Kong Stock Exchange (stock code: 01396.HK) on 31 October 2013.The Company’s corporate vision is to“empower the future of cities forcreating a better life”. The Company positions itself as a“new ecologicalindustrial city service provider”, with the aim of building a harmoniousindustrial ecosystem that comprises mutually beneficial related parties,such as customers, companies, governments, employees and the naturalenvironment, to deliver services to cities. In the future, the Group will continue to adhere to long-term development,strengthen its industrial foundation, enhance the operational efficiency ofhigh-quality assets, actively introduce new types of productive businesses,reinforce technological empowerment, and promote the diversificationof its business matrix, in order to strengthen market competitiveness andcreate greater value for shareholders. CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors 20251212025121 Mr. Luo Jieping(Chairman)Mr. Wong Choi Hing(Co-Chairman) ) (resigned on 21 January 2025)Mr. Cai Hongwen(Co-Chairman) (resigned on 21 January 2025)Mr. He Fei(CEO)Ms. Wei Haiyan Non-executive DirectorMr. Zeng Yunshu(resigned on 21 January 2025) 2025121 Independent Non-executive Directors Mr. Guan HuanfeiMr. Han QinchunMr. Chen Yangsheng AUDIT COMMITTEE Mr. Han Qinchun(Chairman of the Audit Committee)Mr. Guan HuanfeiMr. Chen Yangsheng NOMINATION COMMITTEE 20256252025625 Mr. Chen Yangsheng(Chairman of the Nomination Committee)Mr. Han QinchunMr. Luo Jieping(ceased to be a member on 25 June 2025) Ms. Wei Haiyan(appointed to be a member on 25 June 2025) REMUNERATION COMMITTEE Mr. Guan Huanfei(Chairman of the Remuneration Committee)Ms. Wei HaiyanMr. Han Qinchun COMPANY SECRETARY Ms. Liang Lina AUTHORISED REPRESENTATIVES Mr. Luo JiepingMs. Liang Lina CORPORATE INFORMATION REGISTERED OFFICE PO Box 309Ugland HouseGrand Cayman KY1-1104Cayman Islands PO Box 309Ugland HouseGrand Cayman KY1-1104Cayman Islands PRINCIPAL ADMINISTRATION AND MANAGEMENTCENTERS IN THE PRC A32 Level 32, Block AHong Long Century PlazaLuohu DistrictShenzhen, the PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 168–2009916 Unit 916, 9/F, China Merchants TowerShun Tak Centre168–200 Connaught Road Central, Hong Kong PRINCIPAL SHARE REGISTRAR Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands BRANCH SHARE REGISTRAR IN HONG KONG 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th Floor, Hopewell Centre183 Queen’s Road East, WanchaiHong Kong AUDITORS 588 Prism Hong Kong LimitedPublic Interest Entity Auditor registered in accordance withthe Financial Reporting Council Ordinance(Chapter 588 of the Laws of Hong Kong) PRINCIPAL BANKERS Bank of ChinaIndustrial and Commercial Bank of China CORPORATE INFORMATION LISTING INFORMATION 01396 Share Listing The Stock Exchange of Hong Kong LimitedStock code: 01396 Mandatory Convertible Notes Listing 2026 The Company’s zero coupon mandatory convertible notes due 2026Singapore Exchange Securities Trading Limited www.youngogroup.com COMPANY’S WEBSITEwww.youngogroup.com (852) 2885 9877ir@youngogroup.com INVESTOR RELATIONS Telephone: (852) 2885 9877Email: ir@youngogroup.com MANAGEMENT DISCUSSION AND ANALYSIS OVERALL PERFORMANCE 2025 In the first half of 2025, under the strong policy support from the Chinesegovernment to stabilize the real estate market, market sentiment hasshown some signs of recovery and rebound. However, the subsequenteffectiveness and momentum are insufficient, and market growthremains weak. Facing the current market environment, the Group hasresponded in a proactive manner by continuously adopting measures,such as accelerating sales and cash collection, making progress withasset disposals and strictly controlling costs and expenses, in an effortto improve the financial situation. In response to mounting liquiditypressures, the Group has actively managed its liabilities. 2025439.120254 2520255 798.33%2025610265.320266 In the first half of 2025,