三爱健康集团二零二五年中期报告

Corporate Information BOARD OF DIRECTORSExecutive Directors Mr. Yuan ChaoyangMr. She HaoMr. Xie HaijingMr. Chen Chengqing (retired on 20 June 2025) Professor Zhang Rongqing (resigned on 26 June 2025) Independent Non-executive Directors Professor Zhu Yi ZhunMr. Khor Khie Liem AlexMs. Tsui Yuen Tan COMPANY SECRETARY Ms. Chan Yuen Fong (appointed on 1 January 2025)Ms. Li Yuen Shan (resigned on 1 January 2025) AUTHORIZED REPRESENTATIVES Mr. She HaoMs. Chan Yuen Fong (appointed on 1 January 2025)Ms. Li Yuen Shan (resigned on 1 January 2025) AUDIT COMMITTEE Mr. Khor Khie Liem Alex(Chairman)Professor Zhu Yi ZhunMs. Tsui Yuen Tan REMUNERATION COMMITTEE Mr. Khor Khie Liem Alex(Chairman)Professor Zhu Yi ZhunMs. Tsui Yuen Tan Corporate Information NOMINATION COMMITTEE Ms. Tsui Yuen Tan(Chairman)Professor Zhu Yi ZhunMr. Khor Khie Liem Alex AUDITOR Forvis Mazars CPA Limited(formerly known as Mazars CPA Limited) HONG KONG LEGAL ADVISOR 183401 Commerce & Finance Law Officesin Association with Eric Chow & Co3401, Alexandra House18 Chater RoadCentral, Hong Kong PRINCIPAL BANKERS Nanyang Commercial Bank LimitedHang Seng Bank LimitedChina Construction BankIndustrial and Commercial Bank of China LimitedChina CITIC Bank Corporation Limited REGISTERED OFFICE Grand PavilionHibiscus Way802 West Bay RoadP.O. Box 31119KY1-1205Cayman Islands Grand PavilionHibiscus Way802 West Bay RoadP.O. Box 31119KY1-1205Cayman Islands Corporate Information PRINCIPAL PLACE OF BUSINESS INHONG KONG 5775 Unit 5, 7/F.Nanyang Plaza57 Hung To RoadKwun TongKowloon, Hong Kong SHARE REGISTRARS AND TRANSFEROFFICES Royal Bank of Canada Trust Company(Cayman) Limited4th Floor, Royal Bank House24 Shedden Road, George TownGrand Cayman KY1-1110Cayman Islands Principal share registrar and transfer officeRoyal Bank of Canada Trust Company(Cayman) Limited4th Floor, Royal Bank House24 Shedden Road, George TownGrand Cayman KY1-1110Cayman Islands 148212103B Hong Kong branch share registrar and transfer officeBoardroom Share Registrars (HK) Limited2103B, 21/F, 148 Electric RoadNorth PointHong Kong 1889 STOCK CODE1889 WEBSITEwww.1889hk.com www.1889hk.com Management Discussion and Analysis The board (the “Board”) of directors (the “Directors”)of Sanai Health Industry Group Company Limited(“Sanai Health Industry” or the “Company”) herebypresents the unaudited condensed consolidatedfinancial statements of the Company and itssubsidiaries (collectively referred to the “Group”) forthe six-month period ended 30 June 2025 (the “CurrentPeriod”), together with the comparative figures for thecorresponding period in 2024. BUSINESS REVIEW During the Current Period, the Group was principallyengaged in two businesses: (i) pharmaceuticalproducts business and (ii) finance leasing business.The two businesses are stated as below: (i)(ii) Pharmaceutical Products Business 1,780,000731,000 Since August 2022, Fujian Rui Chuang Health IndustryCompany Limited* () (“FujianRui Chuang”), the Company’s indirect wholly-ownedsubsidiary, has remained to be the core productioncentre as well as the exclusive sales channel of theGroup’s own developed pharmaceutical products duringthe Current Period. As highlighted in the Company’s 2024Annual Report, the negative impact to our pharmaceuticalproducts business brought by a very substantial increasein the general cost as well as a shortage in the volumeof supply of traditional Chinese herbal materials in thePRC since the start of the year of 2023 has continuedin the first half year of 2025, which has still adverselyaffected the gross profit margin as well as the volumeof sales of our own developed pharmaceutical productsin the Current Period, the management has decided todownsize the production capacity of Fujian Rui Chuangin 2025, as such a write-off of RMB1,780,000 andRMB731,000 of Fujian Rui Chuang’s property, plant andequipment and right-of-use assets respectively havealready been made during the year ended 31 December2024. Management Discussion and Analysis On the other hand, following the completion of theacquisition of a controlling 51% equity interests ofBeijing Hangyang Health Technology Co., Ltd.* () (“Beijing Hangyang”) on 14May 2024, Beijing Hangyang has become a significantrevenue contributor to the Company’s pharmaceuticalproduct business, accounted for approximately64.48% of the Company’s total revenue generated inthe pharmaceutical product business in the CurrentPeriod. 51%64.48% 100%14 Due to the significant drop in business and continuousoperating losses recorded in recent years, theCompany has disposed of its 100% equity interestsin Fujian Zhixin Medicine Co., Limited* () (“Fujian Zhixin”), an indirect wholly-owned subsidiary of the Company, to an independentthird party on 28 March 2025. Fujian Zhixin has notgenerated any sales revenue for the Group during theCurrent Period. Please refer to Note 14 of this reportfor details about the disposal. During the Current Period, the revenue derived