高阳科技二零二六年中期报告

2Business Review業務回顧24Business Outlook業務展望29Additional Information其他資料42Interim Condensed Consolidated Income Statement中期簡明綜合收益表44Interim Condensed Consolidated Statement ofComprehensive Income中期簡明綜合全面收益表45Interim Condensed Consolidated Balance Sheet中期簡明綜合資產負債表47Interim Condensed Consolidated Statementof Changes in Equity中期簡明綜合權益變動表49Interim Condensed Consolidated Cash Flow Statement中期簡明綜合現金流量表51Notes to Interim Condensed ConsolidatedFinancial Information中期簡明綜合財務資料附註 Business Review業務回顧Business Review業務回顧 #E B I T D A按 分 類 經 營 虧 損 扣 除 利 息 開 支、稅 項、折 舊、攤 銷、按 公 平 值 計 入 損 益 之 金 融 資 產 之 公 平 值虧損及附屬公司購股權計劃項下的股份付款計算。 Business Review業務回顧Business Review業務回顧 INTERIM CONDENSED CONSOLIDATED BALANCESHEET中期簡明綜合資產負債表 Business Review業務回顧Business Review業務回顧 截至二零二六年六月三十日止六個月（「二零二六年上半年」），高陽科技（中國）有限公司（「本公司」）及 其 附 屬 公 司（統 稱「本 集 團」）之 綜 合 營 業 額 為1,126,100,000港元，較截至二零二五年六月三十日止六個月（「二零二五年上半年」）增加約17%。期內虧損合共為593,700,000港元，而於二零二五年上半年則為27,100,000港元。 During the six months ended 30 June 2026 (“1H2026”), theconsolidated turnover of Hi Sun Technology (China) Limited(the “Company”) and its subsidiaries (collectively, the “Group”)amounted to HK$1,126.1 million, representing an increase ofapproximately 17% when compared with the six months ended30 June 2025 (“1H2025”). Loss for the period totalled HK$593.7million as compared to HK$27.1 million in 1H2025. 就資產負債表而言，於二零二六年六月三十日，資產總值為14,392,200,000港元，而於二零二五年十二月三十一日則為14,431,900,000港元。於二零二六年六月三十日，流動資產淨值為4,158,300,000港元，而於二零二五年十二月三十一日則為3,958,600,000港元。 With regard to the balance sheet, the total assets as at 30 June 2026amounted to HK$14,392.2 million as compared to HK$14,431.9million as at 31 December 2025. As at 30 June 2026, netcurrent assets amounted to HK$4,158.3 million, as compared toHK$3,958.6 million as at 31 December 2025. 分類表現回顧 SEGMENT PERFORMANCE REVIEW (1) Payment and digital servicesKey performance indicators Segmental turnover for 1H2026 amounted to HK$937.9 millionas compared to HK$800.5 million in 1H2025. Segmentaloperating loss amounted to HK$106.8 million, as compared toHK$83.3 million in 1H2025. 二零二六年上半年，分類營業額為937,900,000港元，而於二零二五年上半年為800,500,000港元。分類經營虧損為106,800,000港元，而二零二五年上半年為83,300,000港元。 Business Review業務回顧Business Review業務回顧 分類營業額增加主要歸因由於市佔率改善。支付及數字化服務分類就本公司附屬公司於二零二五年三月及十二月授出的購股權（進一步詳情載於本公司於二零二五年三月七日及二零二五年十二月十二日的通函及╱或公佈）錄得約85,400,000港元的非現金購股權開支。分類經營虧損增加主要由於員工成本上升及支付及向數字化服務分類的海外業務增撥資源。同時，市場持續由傳統支付市場轉向數字化支付致使支付及數字化服務分類的毛利率持續承壓。本集團堅信這項策略調整將為長遠更穩定的發展奠下基石。 The increase in segmental turnover was primarily attributableto the improved market share. Non-cash share option expensesof approximately HK$85.4 million was recorded under thepayment and digital services segment for share options grantedby subsidiaries of the Company in March and December 2025(Further details are set out in the Company’s circular and/orannouncements dated 7 March 2025 and 12 December 2025).The increase in segmental operating loss was mainly dueto increase in staff costs and additional resources allocatedto the overseas businesses under the payment and digitalservices segment. Meanwhile, the ongoing market shift fromtraditional payment market to digital payments has continuedto place pressure on gross profit margin under the payment anddigital services segment. The Group firmly believes that thisstrategic adjustment will lay the cornerstone for more stabledevelopment in the long run. (2) Fintech servicesKey performance indicators (2)金融科技服務 二零二六年上半年，分類營業額為52,100,000港元，而二零二五年上半年為46,200,000港元。二零二六年上半年分類經營溢利為10,200,000港元，而二零二五年上半年則為25,400,000港元。分類經營溢利的減少主要歸因於期內信貸減值虧損增加。 During 1H2026, segmental turnover amounted to HK$52.1million as compared to HK$46.2 million in 1H2025. Segmentaloperating profit for 1H2026 amounted to HK$10.2 millionas compared to HK$25.4 million in 1H2025. The decreasein segmental operating profit was mainly contributed by anincrease in credit impairment loss incurred during the period. (3) Platform operation solutionsKey performance indicators In 1H2026, we continued to provide high-quality and efficientsupporting services, such as product development, businessoperation and system maintenance, to China Mobile Fintech,the IVR Base of China Mobile and the Animation Base ofChina Mobile. Segmental turnover for 1H2026 amounted toHK$35.0 million as compared to HK$41.3 million in 1H2025.The revenue performance of this segment exhibits periodicfluctuations, largely contingent on the value of contractssecured from China Mobile during the reporting period.Segmental operating loss for 1H2026 amounted to HK$20.3million as compared to HK$23.9 million in 1H2025, whichwas primarily attributable to the fair value loss on a financialasset through profit or loss amounting to HK$5.1 million in1H2026 as compared to HK$2.9 million in 1H2025. 於二零二六年上半年，我們繼續為中移金科、中移動IVR基地及中移動動漫基地提供優質高效的支援服務，如產品開發、業務營運及系統維護。二零二六年上半年分類營業額為35,000,000港元，而二零二五年上半年為41,300,000港元。該分類的收入表現呈週期性波動，主要取決於報告期內從中國移動獲得的合約價值。二零二六年上半年分類經營虧損為20,300,000港元，而二零二五年上半年則為23,900,000港元，主要由於於二零二六年上半年，按公平值計入損益之金融資產公平值虧損為5,100,000港元，而二零二五年上