中国长白山国际中期报告2025/26

CHINA CHANGBAISHAN INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability)Stock Code989 Contents目 錄 Corporate InformationManagement Discussion and AnalysisReport on Review of Interim Financial InformationCondensed Consolidated Statement of Profit or LossCondensed Consolidated Statement of Comprehensive IncomeCondensed Consolidated Statement of Financial PositionCondensed Consolidated Statement of Changes in EquityCondensed Consolidated Statement of Cash FlowsNotes to the Condensed Consolidated Financial StatementsOther Information2531343637394042106 Corporate Information BOARD OF DIRECTORS Executive Directors XU Yingchuan (Acting Chairperson)(Appointed on 30 May 2025)LI Junjie(Chief Executive Officer)CONG Peifeng Non-executive Directors CUI MindongCHIU Sin Nang, Kenny(Appointed on 30 May 2025) Independent Non-executive Directors TSANG Hung KeiWANG XiaochuWANG Meirong(Appointed on 21 October 2025) BOARD COMMITTEES Audit Committee TSANG Hung Kei(Chairperson)WANG XiaochuWANG Meirong(Appointed on 21 October 2025) Remuneration Committee TSANG Hung Kei(Chairperson)XU Yingchuan(Appointed on 30 May 2025)WANG XiaochuWANG Meirong(Appointed on 21 October 2025) Nomination Committee XU Yingchuan(Chairperson)(Appointed on 30 May 2025)TSANG Hung KeiWANG XiaochuWANG Meirong(Appointed on 21 October 2025) COMPANY SECRETARY NG Man Kit Micky REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 26131305(852) 2209 2888(852) 2209 2988http://www.chinacbsintl.com Room 1305, 13th FloorChina Resources BuildingNo. 26 Harbour RoadWanchai, Hong KongTel: (852) 2209 2888Fax: (852) 2209 2988Website: http://www.chinacbsintl.com Corporate Information PRINCIPAL SHARE REGISTRAR Appleby Global Corporate Services(Bermuda) LimitedCanon’s Court, 22 Victoria Street,PO Box HM1179Hamilton HMEXBermuda Appleby Global Corporate Services(Bermuda) LimitedCanon’s Court, 22 Victoria Street,PO Box HM1179Hamilton HMEXBermuda HONG KONG BRANCH SHAREREGISTRAR Tricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong HONG KONG LEGAL ADVISOR CLKW Lawyers LLP CLKW Lawyers LLP(in association with Michael Li & Co.) AUDITOR Forvis Mazars CPA LimitedCertified Public Accountants PRINCIPAL BANKERS Hang Seng Bank Limited STOCK CODE 989 Management Discussion and Analysis OVERVIEW During the six months ended 30 September 2025, the Group’smanagement carried on monitoring closely the financial positionand cash flows of the Group. In particular, the Group has strivedto reduce the level of debts at both onshore and offshore level.At the same time, the management carried out periodic reviewon the Group’s asset portfolio and the respective performance.After the recent review, the following corporate actions had beentaken during the period: Disposal of property projects in Baishan and Yanji 1 On 28 July 2025, the Group entered into an equity transferagreement with an independent third party purchaser to disposeof the property projects in Baishan City and Yanji City for anominal consideration of RMB1. The underlying assets included: (a) (a)Investment properties •• •Guangze International Shopping Centre – self-ownedshopping units and car parks•Guangze International Shopping Centre – leasedshopping units (b) (b)Properties under development •B •Guangze China House – Phase IIB where the landpremium has been settled (c) (c)Completed properties •••A• •Guangze International Shopping Centre – residentialunits and car parks•Guangze China House – Phase I – residential andcommercial units•Guangze China House – Phase IIA – residential units•Guangze Red House – Phase I, II and III – commercialunits Management Discussion and Analysis OVERVIEW (continued) Disposal of property projects in Baishan and Yanji(continued) 241,000,000 The disposal also led to a decrease in the Group’s bank loans byapproximately RMB241.0 million which will further improve theGroup’s debt level. Details of the disposal were set out in the Company’s circulardated 16 September 2025 and announcement dated 28 July2025. Completion of the disposal of the cultural tourismproperty project in Fusong County (the “Fusong PropertyProject”) On 30 September 2025, the Group completed the disposal ofFusong Property Project which the equity transfer agreementwas originally entered into on 25 October 2024. Subsequentextensions had been made on the long stop date of thetransaction to 30 June 2025 and 31 October 2025 as additionaltime was required to complete the condition precedents of thetransaction. The assets and liabilities of the Fusong PropertyProject had been derecognised from the Group’s financialstatements as at 30 September 2025. 651,400,000128,200,000 After the completion of the above two disposals, the Group’sbank and other borrowings will be significantly decreased fromapproximately