华科智能投资中期报告 2025/2026

Contents目錄 2Corporate Information5Management Discussion and Analysis31Independent Review Report33Condensed Consolidated Statement ofProfit or Loss34Condensed Consolidated Statement ofComprehensive Income35Condensed Consolidated Statement ofFinancial Position37Condensed Consolidated Statement ofChanges in Equity38Condensed Consolidated Statement of Cash Flows39Notes to the Condensed Consolidated FinancialStatements CORPORATE INFORMATION BOARD OF DIRECTORS Non-executive Directors Dr. WANG Qin(Chairman)Dr. FU WeigangDr. WANG ShibinMs. SUN Qing Independent Non-executive Directors Mr. YAN XiaotianMr. ZHAO KaiMr. YANG Songbin CHIEF EXECUTIVE OFFICER Dr. QIAO Bingya AUDIT COMMITTEE Mr. YANG Songbin(Chairman)Mr. YAN XiaotianMr. ZHAO Kai REMUNERATION COMMITTEE Mr. ZHAO Kai(Chairman)Mr. YAN XiaotianMr. YANG Songbin NOMINATION COMMITTEE Dr. WANG Qin(Chairman)Mr. YAN XiaotianMr. ZHAO KaiMr. YANG Songbin CORPORATE GOVERNANCE COMMITTEE Mr. YAN Xiaotian(Chairman)Mr. ZHAO KaiMr. YANG Songbin AUTHORIZED REPRESENTATIVES Dr. WANG QinMs. WANG Yun(Appointed on 28 August 2025)Ms. YAN Xin(Resigned on 28 August 2025) COMPANY SECRETARY Ms. WANG Yun(Appointed on 28 August 2025)Ms. YAN Xin(Resigned on 28 August 2025) INVESTOR RELATIONS CONTACT DETAILS Tel: (852) 2842 9688Fax: (852) 2842 9666Email: ir@1140.com.hk (852) 2842 9688(852) 2842 9666ir@1140.com.hk INVESTMENT MANAGER Honor Capital (HK) Limited AUDITOR 38223 ZHONGHUI ANDA CPA Limited23/F, Tower 2, Enterprise Square Five38 Wang Chiu RoadKowloon Bay, KowloonHong Kong CORPORATE INFORMATION PRINCIPAL REGISTRAR SMP Partners (Cayman) LimitedRoyal Bank House, 3rd Floor24 Shedden Road, P.O. Box 1586Grand Cayman KY1-1110Cayman Islands SMP Partners (Cayman) LimitedRoyal Bank House, 3rd Floor24 Shedden Road, P.O. Box 1586Grand Cayman KY1-1110Cayman Islands BRANCH REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong REGISTERED OFFICE P.O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands P.O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands PRINCIPAL PLACE OF BUSINESS 183404011 Room 4011, 40/F, COSCO TowerGrand Millennium Plaza183 Queen’s Road CentralHong Kong PRINCIPAL BANKER Shanghai Pudong Development Bank Co., Ltd. Hong Kong BranchChina Guangfa Bank Co., Ltd. Hong Kong BranchEast West BankBank of Communications Co., Ltd, Hong Kong BranchChina Zheshang Bank Hong Kong Branch STOCK CODE 1140www.1140.com.hk The Stock Exchange of Hong Kong Limited Code: 1140 WEBSITE www.1140.com.hk MANAGEMENT DISCUSSION AND ANALYSIS WEALTHINK AI OVERVIEW WealthinkAI-Innovation Capital Limited(“Wealthink AI”)isacross-border investor with a focus on China’s fast-growingindustriesand the best investment opportunities.We leverageourcapital strength to invest in targeted companies,withreturnsprimarily generated from interests,dividends andcapital appreciation. During the period, in view of changes inmarketenvironment and the strategic development needs oftheCompany,we underwent comprehensive adjustments andoptimization of our investment strategy, re-establishing our five-core investment strategy, namely core-holding-centered unlistedequityinvestments,debt investments,fund investments,listedequity investments and artwork investments. INVESTMENT REVIEW Investment Activities Duringthe six-month period ended 30 September 2025(“Period”), the international political landscape remained highlyuncertain, with geopolitical frictions and trade policy adjustmentssuppressing risk appetite and amplifying divergences in capitalflows. Major global economies continued to recover moderately,albeitwith varied growth momentum.In financial markets,equitiesexhibited notable structural opportunities and activehigh-frequencytrading,with the market recovery driven byliquidity conditions and product innovation. Fixed income marketsexperienced heightened volatility due to interest rate expectationsandthe repricing of credit risk.Domestically,macroeconomicpoliciesprioritized stable growth alongside structural reforms,withcoordinated fiscal and monetary measures focusingonsupporting real-economy investments and technologicalinnovation. Inresponse to risks and investment opportunities onshoreandoffshore,we prudently evaluated all our investments anddynamically adjusted and optimized asset allocation based on ourprinciples of risk diversification and steady growth. We enhancedour portfolio diversity by deploying across multiple asset classes.Whileimplementing a multi-faceted investment strategy,weactively explored thematic research and investment opportunitiesin cutting-edge fields such as artificial intelligence and quantumcomputing. This approach has enabled us to capture emergingindustrytrends amid economic shifts while continuouslystrengthening strategic execution and resource allocation in thetechnology-related sectors. MANAGEMENT DISCUSSION AND ANALYSIS 13.02419.9038 During the Period, we exercised extra prudence on