08611 九福来公告及通告：截至二零二五年五月三十一日止六个月年度业绩公告

香港交易及结算所有限公司及香港联合交易所有限公司（「联交所」）对本公告的内容概不

负责，对其准确性或完整性亦不发表任何声明，并明确表示，概不对因本公告全部或任

何部分内容而产生或因倚赖该等内容而引致的任何损失承担任何责任。

MINDTELTECHNOLOGYLIMITED

（于开曼群岛注册成立之有限公司）

（股份代号:8611）

九福来国际控股有限公司

截至二零二五年五月三十一日止六个月

年度业绩公告

九福来国际控股有限公司（「本公司」）董事会欣然宣布本公司及其附属公司截至二零二五

年五月三十一日止六个月之未经审核综合中期业绩。本公告载有本公司二零二五年中期

报告（「二零二五年中期报告」）全文，符合联交所GEM证券上市规则（「GEM上市规则」）有

关中期业绩初步公告随附资料之相关规定。本公司二零二五年中期报告的印刷版本将于

适当时候按GEM上市规则规定之方式寄发予本公司股东，并刊登于联交所网站

w.hkexnews.hk 及本公司网站 htp:/w.mindteltech.com 供阅览。

承董事会命

九福来国际控股有限公司

主席

钟宜斌

香港，二零二五年七月二十二日

于本公告日期，执行董事为钟宜斌先生；非执行董事为谢锦祥先生；及独立非执行董事

为拿督杨国喜、萧剑明先生及刘鸣凤女士。

本公告乃遵照香港联合交易所有限公司GEM证券上市规则之规定而提供有关本公司之资料，

董事愿就此共同及个别地承担全部责任。董事经作出一切合理查询后，确认就彼等所知

及所信，本公告所载资料于所有重要方面均属准确及完备，并无误导或欺诈成份，及并

无遗漏任何其他事项，足以令致本公告或其所载任何陈述产生误导。

本公告将自其刊发日期起计，至少一连七日刊载于香港联合交易所有限公司网站

w.hkexnews.hk 的「最新上市公司公告」内。本公告亦将刊载于本公司网站

w.mindteltech.com 。

INTERIM REPORT 中期业绩报告 20251

CHARACTERISTICS OF GEM OF THE STOCK

EXCHANGE OF HONG KONG LIMITED (THE

“STOCK EXCHANGE”)

GEM has ben positioned as a market

designed to acomodate smal and mid-sized

companies to which a higher investment risk

may be atached than other companies listed

on the Stock Exchange. Prospective investors

should be aware of the potential risks of

investing in such companies and should

make the decision to invest only after due and

careful consideration.

Given that the companies listed on GEM are

generaly smal and mid-sized companies, there

is a risk that securities traded on GEM may

be more susceptible to high market volatility

than securities traded on the Main Board of the

Stock Exchange and no asurance is given that

there wil be a liquid market in the securities

traded on GEM.

Hong Kong Exchanges and Clearing Limited and

the Stock Exchange take no responsibility for the

contents of this report, make no representation

as to its acuracy or completenes and expresly

disclaim any liability whatsoever for any los

howsoever arising from or in reliance upon the

whole or any part of the contents of this report.

This report, for which the directors (the

“Directors”) of Mindtel Technology Limited (the

“Company”) colectively and individualy acept

ful responsibility, includes particulars given in

compliance with the Rules Governing the Listing

of Securities on GEM of the Stock Exchange (the

“GEM Listing Rules”) for the purpose of giving

information with regard to the Company. The

Directors, having made al reasonable enquiries,

confirm that to the best of their knowledge and

belief the information contained in this report is

acurate and complete in al material respects

and not misleading or deceptive, and there are no

other maters the omision of which would make

any statement herein or this report misleading.

香港联合交易所有限公司（「联交

所」）GEM之特色

GEM之定位，乃为中小型公司提

供一个上市之市场，此等公司相比

起其他在联交所上市之公司带有

较高投资风险。有意投资之人士应

了解投资于该等公司之潜在风险，

并应经过审慎周详之考虑后方作

出投资决定。

由于GEM上市公司普遍为中小型

公司，在GEM买卖之证券可能会

较于联交所主板买卖之证券承受

较大之市场波动风险，同时无法保

证在GEM买卖之证券会有高流通

量之市场。

香港交易及结算所有限公司及联

交所对本报告之内容概不负责，对

其准确性或完整性亦不发表任何

声明，并明确表示，概不就因本报

告全部或任何部分内容而产生或

因倚赖该等内容而引致之任何损

失承担任何责任。

本报告之资料乃遵照联交所GEM

证券上市规则（「GEM上市规则」）

而刊载，旨在提供有关Mindtel

Technology Limited（「本公司」）之

资料；本公司董事（「董事」）愿就

本报告之资料共同及个别地承担

全部责任。各董事在作出一切合理

查询后，确认就其所深知及确信，

本报告所载资料在各重要方面均

属准确完备，没有误导或欺诈成

分，且并无遗漏任何其他事项，足

以令致本报告或其所载任何陈述

产生误导。

CONDENSED CONSOLIDATED STATEMENT OF PROFIT

OR LOS AND OTHER COMPREHENSIVE INCOME

简明综合损益及其他全面收益表

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

2025
二零二五年
RM’000
马币千元
(923)
89
(834)
(0.20)

CONDENSED CONSOLIDATED STATEMENT OF PROFIT

OR LOS AND OTHER COMPREHENSIVE INCOME

简明综合损益及其他全面收益表

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

4MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

(Unaudited)

（未经审核）

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

NotesRM’000

附注马币千元

(Los)/profit for the period本期间（亏损）╱溢利187

Other comprehensive income其他全面收入4

Total comprehensive (expenses)/income

for the period

本期间全面总（开支）╱

收入191

(Los)/earnings per share, basic and

diluted (RM cents)

每股（亏损）╱盈余

（基本及摊薄）（马币分）

0.05

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
1,288
498
–
1,786
4,091
1,246
285
4,495
10,117
4,785
1,381
171
728
380
7,445

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

简明综合财务状况表

At 31 May 2025 于二零二五年五月三十一日

INTERIM REPORT 中期业绩报告 20255

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

NotesRM’000

附注马币千元

Non-curent asets非流动资产

Property, plant and equipment物业、机器及设备101,327

Right-of-use asets使用权资产458

Intangible asets无形资产118

1,793

Curent asets流动资产

Trade and other receivables贸易及其他应收款项124,186

Contract asets合约资产13667

Restricted bank balances受限制银行结余14156

Bank balances and cash银行结余及现金153,084

8,093

Curent liabilities流动负债

Trade and other payables贸易及其他应付款项163,622

Contract liabilities合约负债131,547

Income tax payables应付所得税469

Interest-bearing borowings计息借贷17749

Lease liabilities租赁负债266

6,653

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
2,672
4,458
28
550
578
3,880
2,480
1,400
3,880

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

简明综合财务状况表

At 31 May 2025 于二零二五年五月三十一日

6MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

NotesRM’000

附注马币千元

Net curent asets流动资产净值1,440

Total asets les curent liabilities总资产减流动负债3,233

Non-curent liabilities非流动负债

Defered tax liabilities递延税项负债28

Lease liabilities租赁负债640

NET ASETS资产净值2,565

Capital and reserves资本及储备

Share capital股本182,067

Reserves储备498

TOTAL EQUITY权益总额2,565

2,06 7	28,73 2	4,95 2	(24 6)	(32,94 0)	2,56 5
–	–	–	–	(923)	(923)
–	–	–	(2)	–	(2)
–	–	–	9 1	–	9 1
–	–	–	89	(923)	(834)
413	1,736	–	–	–	2,149
413	1,736	–	–	–	2,149
2,480	30,468	4,952	(157)	(33,863)	3,880

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

简明综合权益变动表

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

INTERIM REPORT 中期业绩报告 20257

Reserves

储备

ShareShareCapitalExchangeAcumulated

capitalpremiumreservereservelosesTotal

股本股份溢价资本储备汇兑储备累计亏损总计

RM’000RM’000RM’000RM’000RM’000RM’000

马币千元马币千元马币千元马币千元马币千元马币千元

(Note 18)

（附注18）

At 1 December 2024于二零二四年

十二月一日

Los for the year年内亏损

Other comprehensive

Income (expenses):

其他全面收益

（开支）：

Item that wil not be

reclasified to

profit or los

其后将不会重新分

类至损益之项目

Exchange diference

on translation of the

Company’s financial

statements to

presentation curency

换算本公司财务报

表为呈列货币之

汇兑差额

Item that may be

reclasified

subsequently to profit

or los

其后可能重新分类

至损益之项目

Exchange diference on

translation of foreign

subsidiaries

换算外国附属公司

之汇兑差异

Total comprehensive

expenses

for the year

年内全面总开支

Transactions with

owners:

与拥有人之交易：

Contributions and

distributions

供款及分派

Isue of shares upon

completion of placing

(Note 18)

配售完成时发行股

份（附注18）

Transactions with

owners

与拥有人之交易

At 31 May 2025于二零二五年

五月三十一日

2,06 7 28,73 2 4,95 2 (16 4) (31,79 2) 3,79 5
– – – 4 18 7 19 1
2,067 28,732 4,952 (160) (31,605) 3,986

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

简明综合权益变动表

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

8MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

Reserves

储备

ShareShareCapitalExchangeAcumulated

capitalpremiumreservereservelosesTotal

股本股份溢价资本储备汇兑储备累计亏损总计

RM’000RM’000RM’000RM’000RM’000RM’000

马币千元马币千元马币千元马币千元马币千元马币千元

(Note 18)

（附注18）

At 1 December 2023

(Audited)

于二零二三年

十二月一日

（经审核）

Profit for the period and

total comprehensive

income for the period

本期间溢利及

本期间全面

总收入

At 31 May 2024

(Unaudited)

于二零二四年

五月三十一日

（未经审核）

2025
二零二五年
RM’000
马币千元
(923)
8
260
41
89
(7)
40
(492)
54
(579)
(129)
1,163
(166)
(149)
(298)
(447)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

简明综合现金流量表

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

INTERIM REPORT 中期业绩报告 20259

(Unaudited)

（未经审核）

For the six months ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

OPERATING ACTIVITIES经营活动

(Los)/profit before income tax除所得税前（亏损）╱溢利187

Adjustments for:就下列项目作出调整：

Amortisation摊销136

Depreciation折旧233

Provision for/(reversal of) impairment los on

trade receivables

贸易应收款项之减值

亏损拨备╱（拨回）(66)

Exchange diference汇兑差异4

Interest income利息收入(16)

Interest expenses利息开支38

Cash flows (used in)/generated from

operations before movements in

working capital

经营资金变动前之营运

（所用）╱产生之

现金流量516

Change in working capital:经营资金变动：

Trade and other receivables贸易及其他应收款项2,798

Contract asets合约资产(152)

Restricted bank balances受限制银行结余233

Trade and other payables贸易及其他应付款项(946)

Contract liabilities合约负债(667)

Cash (used in)/generated from operations营运（所用）╱产生之现金1,782

Income tax paid已付所得税(114)

Net cash (used in)/generated from

operating activities

经营活动（所用）╱产生之

现金净额1,668

2025
二零二五年
RM’000
马币千元
(27)
7
(20)
(21)
(210)
(40)
2,149
1,878
1,411
3,084
4,495

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

简明综合现金流量表

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

10MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

(Unaudited)

（未经审核）

For the six months ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

INVESTING ACTIVITIES投资活动

Purchases of property, plant and equipment购买物业、机器及设备(14)

Interest received已收利息16

Net cash (used in)/generated from

investing activities

投资活动（所用）╱产生之

现金净额2

FINANCING ACTIVITIES融资活动

Repayment of interest-bearing borowings偿还计息借贷(20)

Repayment of lease liabilities偿还租赁负债(123)

Interest paid已付利息(38)

Isue of share capital发行股本–

Net cash generated from/(used in)

financing activities

融资活动产生╱（所用）之

现金净额(181)

Net increase in cash and

cash equivalents

现金及现金等价物之

增加净额1,489

Cash and cash equivalents at the

begining of the reporting period

报告期初之现金及

现金等价物3,210

Cash and cash equivalents at the end

of the reporting period, represented

by bank balances and cash

报告期末之现金及

现金等价物，

即银行结余及现金4,699

INTERIM REPORT 中期业绩报告 202511

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

1. CORPORATE INFORMATION

The Company was incorporated as an

exempted company with limited liability in

the Cayman Islands on 27 February 2018.

The Company’s shares were listed on GEM

of the Stock Exchange on 22 October 2018

(the “Listing”). The adres of the Company’s

registered ofice is Cricket Square, Hutchins

Drive, P.O. Box 2681, Grand Cayman KY1–

1111, Cayman Islands and its principal place

of busines in Hong Kong is Rom 1910, 19/F,

C Wu Building, 302-308 Henesy Rod, Wan

Chai, Hong Kong. The Group’s headquarter is

situated at B-7-7, Sky Park @ One City, Jalan

USJ 25/1, 47650 Subang Jaya, Selangor,

Malaysia.

The principal activity of the Company is an

investment holding company. The Group is

principaly engaged in the provision of system

integration and development services, IT

outsourcing services and maintenance and

consultancy services.

The unaudited condensed consolidated

financial statements are presented in Malaysian

Ringit (“RM”) and al amounts have ben

rounded to the nearest thousand (“RM’000”),

unles otherwise indicated.

1. 公司资料

本公司于二零一八年二月

二十七日在开曼群岛注册成立

为获豁免有限公司。本公司股

份于二零一八年十月二十二

日在联交所GEM上市（「上

市」）。本公司注册办事处之地

址为Cricket Square, Hutchins

Drive, P.O. Box 2 6 8 1,

Grand Cayman KY1-1111,

Cayman Islands，其香港主要

营业地点为香港湾仔轩尼诗道

302-308号集成中心19楼1910

室。本集团之总部位于B-7-7,

Sky Park @ One City, Jalan

USJ 25/1, 47650 Subang

Jaya, Selangor, Malaysia。

本公司之主要业务为投资控股

公司。本集团主要从事提供系

统整合及开发服务、资讯科技

外判服务，以及维修及顾问服

务。

未经审核简明综合财务报表以

马币（「马币」）呈列。除另有说

明外，所有金额均凑整至最近

千位（「马币千元」）。

12MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

2. BASIS OF PREPARATION AND

PRINCIPAL ACOUNTING

POLICIES

The unaudited condensed consolidated

financial statements of the Group for the six

months ended 31 May 2025 (the “Interim

Financial Statements”) are prepared in

acordance with International Acounting

Standards (“IASs”) 34 “Interim Financial

Reporting” isued by the International

Acounting Standard Board (the “IASB”) and

with the aplicable disclosure requirements of

Chapter 18 of the GEM Listing Rules.

The preparation of the Interim Financial

Statements in conformity with IAS 34 requires

the management to make judgements,

estimates and asumptions that afect the

aplication of policies and reported amounts

of asets and liabilities, income and expenses

on a period to date basis. Actual results may

difer from these estimates.

2. 编制基准及主要会计政策

本集团截至二零二五年五月

三十一日止六个月之未经审核

简明综合财务报表（「中期财务

报表」）乃按国际会计准则委员

会（「国际会计准则委员会」）颁

布之国际会计准则（「国际会计

准则」）第34号「中期财务报告」

及按GEM上市规则第18章之

适用披露规定而编制。

编制符合国际会计准则第34号

之中期财务报表需要管理层就

对以迄今期间为基础之政策运

用、资产及负债、收入及支出

之列报额有影响之事宜作出判

断、估计及假设。实际结果可

能有别于此等估计。

INTERIM REPORT 中期业绩报告 202513

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

2. BASIS OF PREPARATION AND

PRINCIPAL ACOUNTING

POLICIES (CONTINUED)

The Interim Financial Statements include an

explanation of events and transactions that are

significant to an understanding of the changes

in financial position and financial performance

of the Group since 30 November 2024, and

therefore, do not include al of the information

required for ful set of financial statements

prepared in acordance with the International

Financial Reporting Standards (“IFRSs”)

isued by the IASB, which colective term

includes al aplicable individual IFRSs, IASs

and Interpretations isued by the IASB. They

shal be read in conjunction with the audited

financial statements of the Group for the year

ended 30 November 2024 (the “2024 Financial

Statements”).

The Interim Financial Statements have ben

prepared on the historical costs basis.

2. 编制基准及主要会计政策

（续）

中期财务报表包括针对自二零

二四年十一月三十日起就理解

本集团财务状况及财务表现变

动而具有重大意义之事件及交

易所作之解释，因此，并不包

括根据国际会计准则委员会颁

布之国际财务报告准则（「国际

财务报告准则」），其为国际会

计准则委员会颁布之所有适用

独立国际财务报告准则、国际

会计准则及诠释之统称。该等

准则应与本集团截至二零二四

年十一月三十日止年度的经审

核财务报表（「二零二四年财务

报表」）一并阅读。

中期财务报表乃按历史成本基

准编制。

14MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

2. BASIS OF PREPARATION AND

PRINCIPAL ACOUNTING

POLICIES (CONTINUED)

The acounting policies and methods of

computation aplied in the preparation of the

Interim Financial Statements are consistent with

those aplied in the preparation of the 2024

Financial Statements. The adoption of the new/

revised IFRSs that are relevant to the Group

and efective from the curent period had no

significant efects on the results and financial

position of the Group for the curent and prior

periods.

Future changes in IFRSs

At the date of authorisation of the Interim

Financial Statements, the Group has not early

adopted the new/revised IFRSs that have ben

isued but are not yet efective. The Directors

do not anticipate that the adoption of the new/

revised IFRSs in future periods wil have any

material impact on the Group’s consolidated

financial statements.

2. 编制基准及主要会计政策

（续）

编制中期财务报表采用之会计

政策及计算方法与编制二零

二四年财务报表所采用者相

同。采用与本集团相关，并由

本期间起生效的新订╱经修订

国际财务报告准则，对本集团

在本期间及过往期间的业绩与

财务状况并无重大影响。

国际财务报告准则之未来变动

于授权中期财务报表当日，本

集团并无提早采用已颁布惟尚

未生效之新订╱经修订国际财

务报告准则。董事预期于未来

期间采用该等新订╱经修订国

际财务报告准则对本集团之综

合财务报表并无任何重大影响。

INTERIM REPORT 中期业绩报告 202515

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

3. SEGMENT INFORMATION

Information reported to the executive directors

of the Company, being identified as the chief

operating decision makers (the “CODM”),

for the purposes of resource alocation and

asesment of segment performance focuses

on types of gods or services delivered or

provided. No operating segments identified by

the CODM have ben agregated in ariving at

the reportable segments of the Group.

Specificaly, the Group’s reportable and

operating segments are:

(i) system integration and development

services;

(i) IT outsourcing services; and

(i) maintenance and consultancy services.

3. 分部资料

向本公司执行董事（即被识别

为主要营运决策者（「主要营运

决策者」）呈报之资料，就资

源分配及评估分部表现而言，

著重于已交付或提供之物品或

服务之类型。于达致本集团可

呈报分部时，并无综合主要营

运决策者所识别之经营分部。

具体而言，本集团之可呈报及

经营分部为：

(i) 系统整合及开发服务；

(i) 资讯科技外判服务；及

(i) 维修及顾问服务。

16MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

3. SEGMENT INFORMATION

(CONTINUED)

Segment revenue and results

Segment revenue represents revenue derived

from the system integration and development

services, IT outsourcing services and

maintenance and consultancy services.

Segment results represent the gros profit

reported by each segment without alocation of

other income, administrative expenses, finance

costs and income tax expenses. This is the

measure reported to the CODM of the Group

for the purposes of resource alocation and

performance asesment.

No analysis of the Group’s asets and liabilities

by operating segments is presented as it is not

regularly provided to the CODM for review.

In adition, the Group’s place of domicile is

Malaysia, where the central management and

control is located.

（续）

分部收益及业绩

分部收益指来自系统整合及开

发服务、资讯科技外判服务以

及维修及顾问服务之收益。

分部业绩指各分部已呈报毛

利，而并未分配之其他收入、

行政开支、融资成本及所得税

开支。就资源分配及表现评估

而言，此乃向本集团之主要营

运决策者呈报之方法。

由于本集团按经营分部划分之

资产及负债并无定期提供予主

要营运决策者进行审阅，故并

无呈报其分析。

此外，本集团之所在地为马来

西亚，即中央管理及控制之所

在地。

12,703	–	527	13,230
1,814	–	259	2,073
8	–	–	8
41	–	–	41

INTERIM REPORT 中期业绩报告 202517

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

3. SEGMENT INFORMATION

(CONTINUED)

Segment revenue and results (Continued)

The segment information provided to the

CODM for the reportable segments for the six

months ended 31 May 2025 and 2024 is as

folows:

System

integrationMaintenance

andITand

developmentoutsourcingconsultancy

serviceserviceservicesTotal

系统整合及资讯科技维修及

开发服务外判服务顾问服务总计

RM’000RM’000RM’000RM’000

马币千元马币千元马币千元马币千元

For the six months ended 31 May

2025 (Unaudited)

截至二零二五年五月三十一

日止六个月（未经审核）

Revenue from external customers

and reportable segment revenue

来自外部客户之收益及可呈

报分部收益

Reportable segment results可呈报分部业绩

Other information:其他资料:

Amortisation摊销

Provision for impairment los on

trade receivables

贸易应收款项之减值亏损

拨备

（续）

分部收益及业绩（续）

截至二零二五年及二零二四年

五月三十一日止六个月，就可

呈报分部向主要营运决策者提

供之分部资料如下：

8,351	187	670	9,208
1,646	134	670	2,450
136	–	–	136
(66)	–	–	(66)

18MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（续）

分部收益及业绩（续）

3. SEGMENT INFORMATION

(CONTINUED)

Segment revenue and results (Continued)

System

integrationMaintenance

andITand

developmentoutsourcingconsultancy

serviceserviceservicesTotal

系统整合及资讯科技维修及

开发服务外判服务顾问服务总计

RM’000RM’000RM’000RM’000

马币千元马币千元马币千元马币千元

For the six months ended 31 May

2024 (Unaudited)

截至二零二四年五月三十一

日止六个月（未经审核）

Revenue from external customers

and reportable segment revenue

来自外部客户之收益及

可呈报分部收益

Reportable segment results可呈报分部业绩

Other information:其他资料:

Amortisation摊销

Reversal of impairment los on trade

receivables

贸易应收款项之减值亏损

拨回

INTERIM REPORT 中期业绩报告 202519

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（续）

地区资料

下表载列(i)本集团来自外部客

户之收益；及(i)本集团之物

业、机器及设备、使用权资产

及无形资产（「特定非流动资

产」）之地理位置之资料。收益

之地理位置以外部客户的位置

为依据。特定非流动资产之地

理位置乃以资产的物理位置

为依据（就物业、机器及设备

及使用权资产而言，为其经营

所处之位置，而就无形资产而

言，则为营运之位置）。

3. SEGMENT INFORMATION

(CONTINUED)

Geographical information

The folowing table sets out information about

the geographical location of (i) the Group’s

revenue from external customers; and (i)

the Group’s property, plant and equipment,

right-of-use asets and intangible asets

(the “Specified Non-curent Asets”). The

geographical location of revenue is based

on the location of external customers. The

geographical location of the Specified Non–

curent Asets is based on the physical

location of the asets (in the case of property,

plant and equipment and right-of-use asets,

the location of operation at which they are

located, in the case of intangible asets, the

location of operations).

2025
二零二五年
RM’000
马币千元
13,230
13,230

20MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（续）

地区资料（续）

(a) 来自外部客户之收益

(b) 特定非流动资产

于二零二五年五月三十一

日及二零二四年十一月

三十日，所有特定非流动

资产位于马来西亚。

3. SEGMENT INFORMATION

(CONTINUED)

Geographical information (Continued)

(a) Revenue from external customers

(Unaudited)

（未经审核）

For the six months ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

Malaysia马来西亚9,208

9,208

(b) Specified Non-curent Asets

At 31 May 2025 and 30 November 2024,

al the Specified Non-curent Asets are

located in Malaysia.

2025
二零二五年
RM’000
马币千元
4,675
8,028
12,703
–
527
13,230
8,028
5,202
13,230

INTERIM REPORT 中期业绩报告 202521

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

4. 收益4. REVENUE

(Unaudited)

（未经审核）

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

System integration and

development services:

系统整合及开发服务：

Services provided所提供服务4,457

Sales of externaly acquired/ purchased

hardware and software

销售外部收购╱购买之

硬件及软件3,894

8,351

IT outsourcing services 资讯科技外判服务187

Maintenance and consultancy services维修及顾问服务670

9,208

Timing of revenue recognition:收益确认之时间性:

At a point in time某一时点3,894

Over time随时间5,314

9,208

2025
二零二五年
RM’000
马币千元
7
–
7

2025
二零二五年
RM’000
马币千元
18
22
40

22MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

5. 其他收入

（亏损）╱溢利

此乃经扣除下列各项计算：

5. OTHER INCOME

(Unaudited)

（未经审核）

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

Interest income利息收入16

Others其他7

/PROFIT BEFORE INCOME

TAX

This is stated after charging:

(Unaudited)

（未经审核）

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

Finance costs融资成本

Interest expenses on

interest bearing borowings

计息借贷之利息开支

Finance charges on lease liabilities租赁负债之融资费用19

2025
二零二五年
RM’000
马币千元
8
–
7,925
66
194

INTERIM REPORT 中期业绩报告 202523

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（亏损）╱溢利

（续）

/PROFIT BEFORE INCOME

TAX (CONTINUED)

(Unaudited)

（未经审核）

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

Other items其他项目

Amortisation of intangible asets,

included in administrative expenses

无形资产摊销

（计入行政开支）136

Auditors’ remuneration核数师薪酬17

Cost of materials sold已售材料成本3,618

Depreciation of property,

plant and equipment

物业、机器及设备折旧

Depreciation of right-of-use asets使用权资产折旧155

24MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

7. INCOME TAX EXPENSES

The group entities established in the Cayman

Islands and the British Virgin Islands are

exempted from income tax. No provision for

Hong Kong profits tax has ben made as the

Group had no asesable profits arising in or

derived from Hong Kong.

Malaysia corporate income tax (“Malaysia

CIT”) is calculated at 24% (2024: 24%) of

the estimated asesable profits for the six

months ended 31 May 2025. No Malaysia CIT

has ben provided for the six months ended

31 May 2025 (2024: Nil) as the Group has

incured tax loses in Malaysia in previous

years and can continue to utilise these tax

loses.

7. 所得税开支

于开曼群岛及英属处女群岛成

立之集团实体获豁免缴付当地

所得税。由于本集团并无于或

自香港产生应课税溢利，故并

无就香港利得税计提拨备。

马来西亚企业所得税（「马来西

亚企业所得税」）于截至二零

二五年五月三十一日止六个月

按估计应课税溢利之24%（二

零二四年：24%）计算。由于

本集团于马来西亚在过往年度

就税项录得亏损，并可继续利

用这些税务亏损，故于截至二

零二五年五月三十一日止六个

月并无就马来西亚企业所得税

计提拨备（二零二四年：无）。

INTERIM REPORT 中期业绩报告 202525

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

7. INCOME TAX EXPENSES

(CONTINUED)

Mixsol Sdn. Bhd. (“Mixsol”) has obtained the

pioner status efective from 23 September

2011. A pioner status company is eligible for

exemption from income tax on eligible activities

and products for five years and subject to the

submision of a formal request to the Malaysia

Investment Development Authority on or prior

to expiry date and upon the confirmation of

the Ministry of International Trade and Industry

that Mixsol has ben complying with al the

aplicable conditions as imposed, the tax

relief period shal be extended for a further

five years after each five-year tax relief period

ends.

The pioner status for Mixsol has ben

renewed during the year ended 30 November

2016 and was expired on 30 June 2021. Upon

the expiration of pioner status, Mixsol is

subject to Malaysia CIT since 1 July 2021.

The aplicable tax rate is the weighted average

of rates prevailing in the teritories in which the

Group’s entities operate against profit or los

before tax. The change in aplicable tax rate

is caused by changes in the taxable results

of the Group’s subsidiaries in the respective

countries in which the Group operates.

（续）

Mixsol Sdn. Bhd.（「Mixsol」）

已取得新兴工业地位，自二零

一年九月二十三日起生效。

新兴工业地位之公司合资格可

就五年合资格活动及产品获得

所得税豁免，惟须于届满日期

或之前向马来西亚投资发展局

提交正式申请，及于国际贸易

和工业局确认后遵守所施加之

所有适用条件。于每五年免税

期结束后，免税期可进一步延

长五年。

于截至二零一六年十一月三十

日止年度，Mixsol之新兴工业

地位已予重续，并已于二零

二一年六月三十日届满。自新

兴工业地位届满后，Mixsol自

二零二一年七月一日起须缴纳

马来西亚企业所得税。

适用税率为本集团实体经营所

在地区用以计算除税前溢利或

亏损之现行税率之加权平均税

率。适用税率之变动由本集团

在经营业务所在各相关国家之

本集团附属公司之应课税业绩

变动所致。

2025
二零二五年
RM’000
马币千元
(923)

2025
二零二五年
468,000,000

26MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（亏损）╱盈余

本公司拥有人应占每股基本及

摊薄（亏损）╱盈余乃根据以下

资料计算：

/EARNINGS PER SHARE

The calculation of basic and diluted (los)/

earnings per share atributable to owners of the

Company is based on the folowing information:

(Unaudited)

（未经审核）

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

RM’000

马币千元

(Los)/profit for the period atributable

to the owners of the Company,

used in basic and diluted (los)/earnings

per share calculation

用作计算每股基本及摊薄

（亏损）╱盈余之本期间

本公司拥有人应占

（亏损）╱溢利187

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

Weighted average number of ordinary

shares for basic and diluted (los)/

earnings per share calculation

用作计算每股基本及

摊薄（亏损）╱盈余之

普通股加权平均数390,000,000

INTERIM REPORT 中期业绩报告 202527

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

8. EARNINGS/(LOS) PER SHARE

(CONTINUED)

Diluted (los)/earnings per share is the same

as the basic (los)/earnings per share as there

are no dilutive potential ordinary shares in

existence during the six months ended 31 May

2025 and 2024.

9. DIVIDENDS

The Directors did not recomend the payment

of an interim dividend for the six months ended

31 May 2025 (2024: nil).

10. PROPERTY, PLANT AND

EQUIPMENT

During the six months ended 31 May 2025, the

Group incured expenditures on aditions to

property, plant and equipment with total cost of

aproximately RM27,000 (2024: aproximately

RM76,000), with no proceds on disposal

of property, plant and equipment (2024:

RM2,000).

╱（亏损）（续）

由于截至二零二五年及二零

二四年五月三十一日止六个

月，并无任何具潜在摊薄影响

之普通股，每股摊薄（亏损）╱

盈余与每股基本（亏损）╱盈余

相同。

9. 股息

董事并不建议就截至二零二五

年五月三十一日止六个月派付

中期股息（二零二四年：无）。

、机器及设备

于截至二零二五年五月三十一

日止六个月，本集团产生物

业、机器及设备的添置之开

支，总成本约马币27,000元

（二零二四年：约马币76,000

元），未有出售物业、厂房及

设备的所得款项（二零二四年：

马币2,000元）。

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
3,947
(42)
3,905
186
4,091

28MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

11. 无形资产

于截至二零二五年五月三十一

日止六个月，本集团并未就添

置无形资产生任何费用。

于二零二五年五月三十一日及

二零二四年十一月三十日，所

有无形资产均可供使用。

12. 贸易及其他应收款项

11. INTANGIBLE ASETS

During the six months ended 31 May 2025,

the Group did not incur any expenditures on

adition to intangible asets.

At 31 May 2025 and 30 November 2024, al the

intangible asets are available for use.

12. TRADE AND OTHER RECEIVABLES

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

NotesRM’000

附注马币千元

Trade receivables from

third parties

应收第三方之贸易

应收款项4,008

Les: Los alowance减：亏损拨备(1)

12(a)4,007

Other receivables其他应收款项

Deposits, prepayments and

other receivables

按金、预付款及

其他应收款项179

4,186

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
821
160
83
699
2,142
–
3,905

INTERIM REPORT 中期业绩报告 202529

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（续）

(a) 应收第三方之贸易应收款

项

本集团一般按个别个案向

其客户授予经管理层批准

由发票出具日期起计直至

30日之信贷期。于报告期

末，按发票日期划分之贸

易应收款项（扣除亏损拨

备）之账龄分析如下：

12. TRADE AND OTHER RECEIVABLES

(CONTINUED)

(a) Trade receivables from third parties

The Group normaly grants credit periods

of up to 30 days, from the date of isuance

of invoices to its customers as aproved by

the management on a case by case basis.

The ageing analysis of trade receivables

(net of los alowance) based on invoice

date at the end of the reporting period is

as folows:

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

RM’000

马币千元

Within 30 days30天内507

31 to 60 days31至60天2,151

61 to 90 days61至90天570

91 to 180 days91至180天393

181 to 365 days181至365天–

Over 365 days超过365天386

4,007

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
68,652
(68,787)
(135)
1,246
(1,381)
(135)

30MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

13. 合约资产及合约负债13. CONTRACT ASETS AND

CONTRACT LIABILITIES

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

RM’000

马币千元

Contracts in progres进行中的合约

Contracts costs incured plus recognised

profits les recognised loses to date

已产生合约成本加已确认

溢利减迄今已确认亏损72,099

Les: progres bilings received and

receivable

减：已收及应收进度账款

(72,979)

(880)

Represented by:代表:

Contract asets合约资产667

Contract liabilities合约负债(1,547)

(880)

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
2,507
1,988
4,495

INTERIM REPORT 中期业绩报告 202531

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

14. 受限制银行结余

本集团已就发行由若干具信誉

银行授出之银行担保取得银

行融资。有关融资由受限制银

行结余作抵押。就本集团履行

14. RESTRICTED BANK BALANCES

The Group had obtained banking facilities

on isuance of bank guarantes granted by

certain creditworthy banks. Such facilities

were secured by the restricted bank balances.

At 31 May 2025, the Group had utilised

aproximately RM285,000 (30 November 2024:

aproximately RM156,000) under such facilities

for isuing bank guarantes to customers in

respect of the Group’s fulfilment of related

contracts.

15. BANK BALANCES AND CASH

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

RM’000

马币千元

Cash at banks and in hand银行及手头现金1,448

Short-term time deposits短期定期存款1,636

3,084

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
1,509
3,276
4,785

32MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（续）

银行现金以基于每日浮动银行

存款利率的浮动利率赚取利

息。短期定期存款为期不多于

三个月，并以现行存款利率赚

取利息。本集团可于到期日前

随时提取短期定期存款，而不

会产生任何重大银行费用。

16. 贸易及其他应付款项

15. BANK BALANCES AND CASH

(CONTINUED)

Cash at banks earns interest at floating rates

based on daily floating bank deposit rate.

Short-term time deposits are made for not

more than thre months, and earn interest at

the prevailing deposit rates. The Group can

withdraw the short-term fixed time deposits

anytime before the maturity date without

incuring any significant bank charges.

16. TRADE AND OTHER PAYABLES

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

RM’000

马币千元

Trade payables from third parties应付第三方之贸易应付款项372

Other payables其他应付款项

Acruals and other payables应计费用及其他应付款项3,250

3,622

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
89
550
–
498
371
1
1,509

INTERIM REPORT 中期业绩报告 202533

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（续）

于报告期末，按发票日期划分

之贸易应付款项之账龄分析如

下：

贸易应付款项之信贷期最多为

30天。

16. TRADE AND OTHER PAYABLES

(CONTINUED)

At the end of the reporting period, the ageing

analysis of the trade payables based on

invoice date is as folows:

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

RM’000

马币千元

Within 30 days30天内371

31 to 60 days31至60天–

61 to 90 days61至90天–

91 to 180 days91至180天–

181 to 365 days181至365天–

Over 365 days超过365天1

The credit term on trade payables is up to 30

days.

31 May 2025
二零二五年五月三十一日
RM’000
马币千元
728
45
48
157
478
728

34MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

17. INTEREST-BEARING

BOROWINGS

(Unaudited)(Audited)

（未经审核）（经审核）

30 November 2024

二零二四年

十一月三十日

RM’000

马币千元

Interest-bearing borowings (secured)计息借贷（有抵押）749

Carying amounts of interest-bearing

borowings that are repayable (Note)

须于以下年期偿还计息借贷

之账面值（附注）

Within one year一年内44

One to two years一至两年47

Two to five years两至五年153

Over five years超过五年505

Note: The interest-bearing borowings, with a

clause in their terms that gives the lender

an overiding right to demand repayment at

their sole discretion, are clasified as curent

liabilities even though the management

does not expect that the lender would

exercise its rights to demand repayment.

The amounts due are presented based on

scheduled repayment dates set out in the

loan agrements.

17. 计息借贷

附注：计息借贷之其中一条款

给予贷款人凌驾一切权

利，可按其全权酌情权要

求还款；尽管理层并不

预期贷款人将行使要求还

款之权利，惟计息借贷乃

分类为流动负债。到期款

项乃根据该等贷款协议所

载预定还款日期呈列。

INTERIM REPORT 中期业绩报告 202535

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

（续）

计息借贷指于二零二五年五月

三十一日到期年期为12年之应

付一间马来西亚银行之款项。

于二零二五年五月三十一日

及二零二四年十一月三十日，

计息借贷按银行基准贷款利率

之浮动利率减年利率2.10%计

息。于二零二五年五月三十一

日，计息借贷之实际利率为年

利率2.4%（二零二四年十一月

三十日：4.8%）。

计息借贷为根据银行融资提取

之借贷。计息借贷之抵押及担

保如下：

(i) 于二零二五年五月三十一

日，本集团所拥有物业

之总账面净值约马币

1,098,000元（二零二四

年十一月三十日：约马币

1,112,000元）；及

(i) 由本公司主要股东及董事

钟宜斌先生及谢锦祥先生

所提供之担保。

17. INTEREST-BEARING

BOROWINGS (CONTINUED)

The interest-bearing borowings represent

amounts due to a bank in Malaysia with a

maturity period of 12 years at 31 May 2025.

At 31 May 2025 and 30 November 2024, the

interest-bearing borowings bore a floating

interest rate at the bank’s Base Lending Rate

minus 2.10% per anum. The efective interest

rate on interest-bearing borowings at 31 May

2025 is 2.4% (30 November 2024: 4.8%) per

anum.

The interest-bearing borowings are drawn

under a banking facility. The interest-bearing

borowings are secured and guaranted by:

(i) properties owned by the Group with

agregate net carying amount of

aproximately RM1,098,000 at 31 May

2025 (30 November 2024: aproximately

RM1,112,000); and

(i) guarantes provided by Mr. Chong

Ye Ping and Mr. Siah Jin Shyang, the

substantial shareholders and the directors

of the Company.

36MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

For the six months ended 31 May 2025 截至二零二五年五月三十一日止六个月

18. 股本

于二零二五年一月七日，本公

司以配售方式（「配售事项」）按

每股新股份0.052港元之配售

价发行78,000,000股份。配

售事项之所得款项净额（经扣

除相关开支约4,056,000港元）

已分别计入「股本」及「股份溢

价」，金额分别约为780,000元

及约3,276,000港元。认购事项

已于二零二五年二月六日完成。

19. 批准中期财务报表

董事会于二零二五年七月

二十二日批准及授权刊发中期

财务报表。

18. SHARE CAPITAL

Number ofEquivalent

sharesHK$to RM

股份数目港元相等于马币

Ordinary share of HK$0.01 each每股面值0.01港元的普通股

Authorised:法定：

At 30 November 2024 (Audited)

and 31 May 2025 (Unaudited)

于二零二四年十一月三十日

（经审核）及二零二五年五

月三十一日（未经审核）2,000,000,00020,000,00010,596,200

Isued and fuly paid:已发行及缴足股本：

At 30 November 2024 (Audited)于二零二四年十一月三十日

（经审核）390,000,0003,900,0002,067,000

Isue of shares upon completion

of placing (Note)

完成配售后发行股份（附注）

78,000,000780,000413,400

At 31 May 2025 (Unaudited)于二零二五年五月三十一日

（未经审核）4 68,000,0004,680,0002,480,400

On 7 January 2025, the Company isued

78,000,000 Shares by way of placing (the

“Placing”), at a placing price of HK$0.052

per new Share. The net proceds from the

Placing after deducting related expenses of

aproximately HK$4,056,000 milion were

credited to the “Share capital” and the “Share

premium” of aproximately HK$780,000 and

aproximately HK$3,276,000 respectively. The

Subscription was completed on 6 February 2025.

19. APROVAL OF THE INTERIM

FINANCIAL STATEMENTS

The Interim Financial Statements were

aproved and authorised for isue by the

Board on 22 July 2025.

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

INTERIM REPORT 中期业绩报告 202537

BUSINES REVIEW

The Group is an IT service provider based in

Malaysia and principaly engaged in the design,

procurement, instalation and maintenance of

customised systems aplication for corporate

customers. Our services mainly include:

(i) System integration and development –

development and customisation of corporate

IT system aplications on project basis, either

in the capacity as a main contractor or as a

subcontractor;

(i) IT outsourcing – performance of specific

tasks for development and customisation of

corporate IT system aplications which are

within our expertise under the supervision of

customers; and

(i) Maintenance and consultancy – maintenance

and suport of the developed IT system

aplications.

FINANCIAL REVIEW

Revenue

The Group’s revenue was derived from thre

principal busineses, namely, system integration

and development services, IT outsourcing services

and maintenance and consultancy services which

are analysed in Note 4 to the Interim Financial

Statements.

业务回顾

本集团是一间以马来西亚为基地

之资讯科技服务供应商，专门为

企业客户设计、采购、安装及维

修个人化系统应用程式。我们之

服务主要包括：

(i) 系统整合及开发－作为主承包

商或分包商，以项目基准，开

发及定制企业资讯科技系统应

用程式；

(i) 资讯科技外判－在客户的监

督下，在我们的专业知识范围

内，执行开发及定制企业资讯

科技系统应用程式的特定任

务；及

(i) 维修及顾问－维护及支援已开

发的资讯科技系统应用程式。

财务回顾

收益

本集团之收益源自三大业务，即

系统整合及开发服务、资讯科技

外判服务以及维修及顾问服务，

其详情载于中期财务报表附注4。

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

38MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

For the six months ended 31 May 2025, the

Group recorded an increase in total revenue

by aproximately 43.7% to aproximately

RM13,230,000 (2024: aproximately RM9,208,000).

The increase in revenue was mainly due to the

increase in revenue from system integration and

development services.

Details of changes in the revenue derived from

system integration and development services,

IT outsourcing services, and maintenances and

consultancy services are analysed as below.

System integration and development services

For system integration and development services,

the revenue increased by aproximately 52.1% to

aproximately RM12.7 milion for the six months

ended 31 May 2025 (2024: aproximately RM8.4

milion). The increase was primarily due to the

comencement of a new project involving the

sales of externaly purchased software and

hardware, contributing aproximately RM7.2 milion

in revenue for the six months ended 31 May 2025.

IT outsourcing services

No revenue was recognised from IT outsourcing

services for the six month ended 31 May 2025

(2024: aproximately RM187,000). The decline was

primarily due to the realocation of stafs to internal

projects, thereby reducing the resources available

for the provision of IT outsourcing services to

external customers.

截至二零二五年五月三十一日止

六个月，本集团录得总收益增加

约43.7%至约马币13,230,000元

（二零二四年：约马币9,208,000

元）。收益增加主要由于系统整合

及开发服务之收益增加。

有关系统整合及开发服务、资讯

科技外判服务以及维修及顾问服

务之收益变动详情分析如下。

系统整合及开发服务

就系统整合及开发服务而言，截

至二零二五年五月三十一日止六

个月，收入增加约52.1%至约马币

12,700,000元（二零二四年：约马

币8,400,000元）。该增加乃主要

由于开始涉及销售外部购买软件

及硬件的一个新项目，于截至二

零二五年五月三十一日止六个月

贡献收入约马币7,200,000元。

资讯科技外判服务

截至二零二五年五月三十一日止

六个月，资讯科技外判服务并无

录得收益（二零二四年：约马币

187,000元）。该减少乃主要由于

员工被重新分配至内部项目，从

而减少可用于向外部客户提供资

讯科技外判服务的资源。

2025
二零二五年
13,230
(11,157)
2,073
15.7%

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

INTERIM REPORT 中期业绩报告 202539

维修及顾问服务

就维修及顾问服务而言，截至二

零二五年五月三十一日止六个

月，其收入减少约21.3%至约马币

527,000元（二零二四年：约马币

670,000元）。该减少乃主要归因

于去年同期延迟确认若干维护合

约的续约协议，导致收入减少及

经常性项目数量下降。

毛利及毛利率

下表载列所示期间毛利及毛利率

之明细：

Maintenance and consultancy services

For maintenance and consultancy services, the

revenue decreased by aproximately 21.3% to

aproximately RM 527,000 for the six months

ended 31 May 2025 (2024: aproximately

RM670,000).The decline was primarily atributable

to the delayed confirmation of renewal agrements

for several maintenance contracts during the prior

year’s coresponding reporting period, which

resulted in a lower revenue and a reduced volume

of recuring projects.

Gros profit and gros profit margin

The folowing table sets forth a breakdown of

gros profit and gros profit margin for the period

indicated:

(Unaudited)

(未经审核)

For the six months

ended 31 May

截至五月三十一日止六个月

二零二四年

Revenue收益9,208

Cost of services and

materials sold

服务及已售

材料成本(6,758)

Gros profit毛利2,450

Gros profit margin毛利率26.6%

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

40MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

The gros profit declined from aproximately

RM2,450,000 for the six months ended 31 May

2024 to aproximately RM2,073,000 for the six

months ended 31 May 2025. Corespondingly, the

gros profit margin decreased from aproximately

26.6% to aproximately 15.7% over the same

period. The decline in gros profit margin was

mainly atributable to the lower margin from the

sales of externaly acquired software and hardware

under a new contract secured during the year.

Administrative expenses

Administrative expenses increased by

aproximately 26.3% to aproximately

RM2,922,000 for the six months ended 31 May

2025 (2024: aproximately RM2,314,000). The

increase was mainly due to profesional fes

related to corporate activities, including the

adoption of a proposed Chinese company name,

share subscription under the general mandate,

and the acquisition of a target company.

Finance costs

The finance costs remained stable at

aproximately RM40,000 for the six months ended

31 May 2025 (2024: aproximately RM38,000).

毛利由截至二零二四年五月

三十一日止六个月约马币

2,450,000元增加至截至二零二五

年五月三十一日止六个月之约

马币2,073,000元。相应地，同

期的毛利率由约26.6%减少至约

15.7%。毛利率下降乃主要归因

于年内所取得之一份新合约项下

销售外部购买软件及硬件的利润

率较低。

行政开支

截至二零二五年五月三十一日止

六个月，行政开支增加约26.3%，

约为马币2,922,000元（二零二四

年：约马币2,314,000元）。该增

长乃主要由于与企业活动相关的

专业费用，包括采纳建议中文公

司名称、根据一般授权认购股份

以及收购目标公司。

融资成本

截至二零二五年五月三十一日止

六个月，融资成本维持稳定在约

马币40,000元（二零二四年：约马

币38,000元）。

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

INTERIM REPORT 中期业绩报告 202541

所得税开支

截至二零二五年五月三十一日止

六个月（二零二四年：无）未计提

所得税准备金，因本集团往年于

马来西亚产生税务亏损，并可继

续利用上述税务亏损。

本期间（亏损）╱溢利

截至二零二五年五月三十一日止

六个月，本集团录得亏损约马币

923,000元（二零二四年：溢利约

马币187,000元）。亏损乃主要归

因于上文所分析之毛利减少及行

政开支增加。

流动资金及资本资源

于二零二五年五月三十一日，

本集团之借贷总额约为马币

1,700,000元（二零二四年十一月

三十日：约马币1,700,000元），

包括计息借贷及租赁负债。

于二零二五年五月三十一日，

本集团之资产负债比率为42.7%

（二零二四年十一月三十日：

64.5%）。资产负债比率乃按相关

期末借贷总额除以权益总额计算。

Income tax expenses

No income tax provision has ben made for the

six months ended 31 May 2025 (2024: Nil) as

the Group has incured tax loses in Malaysia in

previous years and can continue to utilise these

tax loses.

(Los)/profit for the period

The Group recorded a los of aproximately

RM923,000 for the six months ended 31 May 2025

(2024: a profit of aproximately RM187,000). The

los was primarily atributable to the decrease

in gros profit and the increase in administrative

expenses, as analysed above.

LIQUIDITY AND CAPITAL

RESOURCES

At 31 May 2025, the total borowings of the Group

amounted to aproximately RM1.7 milion (30

November 2024: aproximately RM1.7 milion)

which comprised interest-bearing borowings and

lease liabilities.

At 31 May 2025, the gearing ratio of the Group was

42.7% (30 November 2024: 64.5%). Gearing ratio

is calculated based on total borowings divided by

total equity at the end of the relevant period.

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

42MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

At 31 May 2025, the Group’s net curent asets

amounted to aproximately RM2,672,000 (30

November 2024: aproximately RM1,440,000).

The curent ratio of the Group was aproximately

1.4 times (30 November 2024: aproximately 1.2

times). Curent ratio is calculated based on total

curent asets divided by total curent liabilities at

the end of the relevant period.

The Group’s operations are financed principaly

by revenue generated from its busines operation,

available bank balances and cash as wel as

interest-bearing borowings. The Board wil

continue to folow a prudent treasury policy

in managing its bank balances and cash and

maintain a strong and healthy liquidity position to

ensure that the Group is wel positioned to achieve

its busines objectives and strategies.

CONTINGENT LIABILITIES

At 31 May 2025, the Group did not have any

significant contingent liabilities (30 November

2024: nil).

于二零二五年五月三十一日，本

集团之流动资产净值约为马币

2,672,000元（二零二四年十一月

三十日：约马币1,440,000元）。

本集团之流动比率约为1.4倍（二

零二四年十一月三十日：约1.2

倍）。流动比率乃按相关期末流动

资产总值除以流动负债总额计算。

本集团之营运主要由其业务营运

产生之收益、可动用银行结余及

现金及计息借贷拨资。董事会于

管理其银行结余及现金时将继续

采用审慎的财务政策及维持雄厚

而健康的流动资金状况，以确保

本集团能达成其业务目标及策略。

或然负债

于二零二五年五月三十一日，本

集团并无任何重大或然负债（二零

二四年十一月三十日：无）。

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

INTERIM REPORT 中期业绩报告 202543

重大事件

根据一般授权配售新股份

于二零二五年一月七日，本公

司与认购人订立认购协议，据

此，本公司有条件同意按每股

认购股份0.052港元发行及配发

78,000,000股认购股份（「认购事

项」），该等股份相当于本公司现

有已发行股本约20.0%及紧随认

购事项完成后本公司经配发及发

行认购股份扩大之已发行股本约

16.7%，假设已发行股份总数概

无变动（除发行认购股份外）。认

购事项所得款项净额（经扣除所有

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

44MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

资产抵押

于二零二五年五月三十一日，本

集团已就发行由若干银行授出

之银行担保取得银行融资，有关

融资由受限制银行结余约马币

285,000元（二零二四年十一月

三十日：约马币156,000元）作抵

押，有关详情载于未经审核简明

综合财务报表附注14。

于二零二五年五月三十一日，计

息借贷由本集团拥有之物业作抵

押，总账面净值约马币1,098,000

元（二零二四年十一月三十日：约

马币1,112,000元），有关详情载

于未经审核简明综合财务报表附

注17(i)。

未来业务及发展计划

本集团积极推行以下业务策略：

(i) 继续巩固为商业金融服务

业、公共金融服务的主要技

术服务供应商的地位。

(i) 推动新研发解决方案，通过

潜在投资伙伴进入未开拓的

纵向、领域及行业。

PLEDGE OF ASETS

At 31 May 2025, the Group had obtained

banking facilities on isuance of bank guarantes

granted by certain banks, which were secured

by the restricted bank balances of aproximately

RM285,000 (30 November 2024: aproximately

RM156,000) as set out in Note 14 to the unaudited

condensed consolidated financial statements.

At 31 May 2025, the interest-bearing borowings

were secured by properties owned by the

Group with agregate net carying amount of

aproximately RM1,098,000 (30 November 2024:

aproximately RM1,112,000) as set out in Note

17(i) to the unaudited condensed consolidated

financial statements.

FUTURE BUSINES AND

DEVELOPMENT PLAN

The Group actively pursues the folowing busines

strategies:

(i) Continue to anchor ourselves to be the

major technology service provider to the

comercial financial services industry, as

wel as public financial services.

(i) To promote new research and development

solution to venture into unexplored verticals,

sector, and industry via potential investment

partner.

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

INTERIM REPORT 中期业绩报告 202545

(i) Emphasizing partnership with Software

Companies such as IBM and Oracle to build

new busines that runs and empower by

respective platforms and products.

(iv) Loking to establish partnership and

potential acquisition to broaden the product

ofering.

Details of the Group’s future busines and

development plans are set out below:

(i) Continue to anchor ourselves to be the

major technology service provider to the

comercial financial services industry, as

wel as public financial services.

We observed that the competition receded

in Malaysia market. Not many services

provider is able to deliver core system,

data enginering, data cleansing and data

quality, big data analytics, digitalization

chanel, mobility aplication, compliance

works, as wel as midleware services for a

financial service.

Posesed with many significant key

references, we are quite the prefered and

certified technology consulting service firm

for the market.

(i) 强调与IBM及甲骨文等软件

公司合作，建立由各自平台

及产品运营及授权的新业务。

(iv) 寻求建立合作伙伴关系及潜

在收购，以扩大产品供应。

本集团的未来业务及发展计划详

情载列如下：

(i) 继续巩固作为商业金融服务

业、公共金融服务的主要技

术服务供应商的地位。

我们留意到马来西亚市场

的竞争有所减弱。而能够为

金融服务提供核心系统、数

据工程、数据清理及数据质

量、大数据分析、数字化渠

道、移动应用、合规工作以

及中间件服务的服务供应商

并不多。

我们拥有众多重要的关键参

考资料，是市场上颇受青睐

的认证科技顾问服务公司。

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

46MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

(i) 推动新研发解决方案，通过

潜在投资伙伴进入未开拓的

纵向、领域及行业。

于下一个财政年度，我们将

与潜在投资者（包括技术及

资金筹集）探索以开发新纵

向、新领域的市场以及新行

业。

根据过往记录，本集团仅专

注于金融服务行业，如银行

及保险公司。我们亦专注于

中央银行、社会保障及退休

基金。

我们将计划在欺诈管理方面

进行关键研究，以及该解决

方案如何能从私有云人工智

能中获益。

该等新投资将具有释放新行

业收入、机会以及未来产品

路线图的巨大潜力。

(i) 强调与IBM及甲骨文等软件

公司合作，建立由各自平台

及产品运营及授权的新业务。

我们与甲骨文的合作刚成功

赢得新合约。我们亦有许多

正在与彼等合作的合规软

体，专注于反洗钱领域。此

共生关系将继续在东南亚地

区（包括印尼、泰国及柬埔

寨等国家）取得更多成功。

(i) To promote new research and

development solution to venture into

unexplored verticals, sector, and industry

via potential investment partner.

In the next financial year, we wil explore

with potential investor, both technology and

fund raising, to funel new research and

development for a new vertical, new sector

of market, as wel as new industry.

In the past track record, the group has ben

focusing only on financial services industry,

such as banks and insurance companies.

We also focused on public financial services

such as central banks, social security, as

wel as retirement fund.

We wil plan key research in fraud

management and how the solution can

reap the benefit of private cloud Artificial

Inteligence.

These new investments wil poses high

potential of unlocking new sectorial revenue,

oportunity, as wel as future product

roadmap.

(i) Emphasizing partnership with Software

Companies such as IBM and Oracle

to build new busines that runs and

empower by respective platforms and

products.

Our colaboration with Oracle has just led to

a sucesful win of a new contract. We also

have many in pipelines working with their

compliance software focusing in anti-money

laundering area. This symbiotic relationship

wil continue to gather more suces in the

Southeast Asia region, including country like

Indonesia, Thailand, and Cambodia.

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

INTERIM REPORT 中期业绩报告 202547

We are investing into staf training, sales

personel hiring and brand marketing to

spearhead the partnership so they wil

only promote the group as the prefered

technology and busines partner in the

region.

(iv) Loking to establish partnership and

potential acquisition to broaden the

product ofering.

We are actively seking companies with

promising products to enhance our oferings

for both existing and new markets. As part of

this strategy:

(1) The Group has entered into a

conditional sale and purchase

agrement to acquire Henan Lixuan

Network Technology Co., Ltd., a

PRC-based company engaged in

cybersecurity, internet information

services, and medical-related

e-comerce. The acquisition is

subject to conditions precedent,

including completion of due diligence,

compliance review, and execution of

definitive agrements. If completed,

this acquisition wil provide the Group

with an entry point into the PRC market

and suport diversification beyond the

financial services sector.

我们正在投资于员工培训、

销售人员招聘及品牌营销，

以引领合作伙伴关系，因此

彼等仅会促使本集团为该地

区的首选技术及业务伙伴。

(iv) 寻求建立合作伙伴关系及潜

在收购以扩大产品供应。

本集团正积极寻求具发展潜

力的产品公司，以强化现有

及新市场的业务布局。作为

此战略的一部分：

(1) 本集团已订立一项有

条件买卖协议，拟收

购河南丽轩网络科技

有限公司，该公司主

要从事网络安全、互

联网资讯服务及医疗

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

48MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

，本集团亦

签署一份不具法律约

束力的意向书，拟取

得「九福来国际」商标

于中国为期三年的独

家使用权。此品牌策

略将协助本集团附属

公司建立市场识别度，

并在中国开展新业务

线。

(3) 上述发展反映本集团

持续推进战略扩张，

尤其聚焦于医疗科技、

人工智能平台及跨境

电商等高潜力产业。

透过甄选合适的合作伙伴及

收购目标，本集团旨在紧贴

市场趋势（尤其是在人工智

能技术快速发展的情况下），

创造协同效应以加速实现长

期增长蓝图。

, the Group has

also signed a non-binding Leter of

Intent (LOI) to obtain exclusive rights

to use the trade name “九福来国际”

in the PRC for a period of thre years.

This branding initiative wil position

the Group’s subsidiary to establish a

recognizable presence and launch

new busines lines in China.

(3) These developments reflect

our continued comitment to

strategic expansion, particularly

into high-potential industries such

as healthcare technology, AI-

enabled platforms, and cros-border

e-comerce.

By identifying suitable partners and

acquisition targets, we aim to stay at the

forefront of market trends, especialy in light

of the rapid advancement of AI technologies,

and to create synergies that acelerate the

Group’s long-term growth roadmap.

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

INTERIM REPORT 中期业绩报告 202549

附属公司、联营公司及合营

企业之重大收购及出售

于截至二零二五年五月三十一

日止六个月，本公司（作为买

方）、耿楠及赵宝琴（统称卖方

（「卖方」）订立买卖协议（「买卖

协议」），据此（其中包括），卖方

已有条件同意出售而本公司已有

条件同意购买河南丽轩网络科技

有限公司（「目标公司」）的全部股

权，总代价为40,000,000港元，

将于收购事项完成（「完成」）时透

过发行承兑票据支付。于完成后，

目标公司将成为本公司的直接全

资附属公司（或（视乎买卖协议条

款而定）本公司的间接全资附属公

司），而目标公司的财务业绩将与

本集团综合入账。

MATERIAL ACQUISITIONS AND

DISPOSALS OF SUBSIDIARIES,

ASOCIATES AND JOINT VENTURES

During the six months ended 31 May 2025, the

Company, as the purchaser, GENG NAN（耿楠）,

and ZHAO BAOQIN（赵宝琴）, colectively as the

vendor (the “Vendors”), entered into a sale and

purchase agrement (the “Sale and Purchase

Agrement), pursuant to which, among other

things, the Vendors have conditionaly agred to

sel, and the Company has conditionaly agred to

purchase the total equity interest in Henan Lixuan

Network Technology Co., Ltd.（河南丽轩网络科

技有限公司）(the “Target Company”), at the total

consideration of HK$40,000,000, which wil be

satisfied by the isuance of promisory notes upon

completion of the acquisition (the “Completion”).

Upon Completion, the Target Company wil

become a direct wholy-owned subsidiary (or

alternatively, an indirect wholy-owned subsidiary

of the Company subject to the terms of the Sale

and Purchase Agrement) of the Company and

the financial results of the Target Company wil be

consolidated with the Group.

MANAGEMENT DISCUSION AND ANALYSIS

管理层讨论及分析

50MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

外汇风险

由于大部分业务交易、资产及负

债主要以马币及港元计值，故本

集团面对的外汇风险极低。本集

团目前并无就其外币交易、资产

及负债设定外币对冲政策。管理

层密切监察我们的外汇风险，并

会在有需要时考虑对冲重大外币

风险。

股息

董事会并不建议派付截至二零

二五年五月三十一日止六个月之

中期股息（二零二四年：无）。

FOREIGN EXCHANGE EXPOSURE

The Group has minimal exposure to foreign

curency risk as most of the busines transactions,

asets and liabilities are principaly denominated

in Malaysian Ringit and Hong Kong dolars.

The Group curently does not have a foreign

curency hedging policy in respect of its foreign

curency transactions, asets and liabilities.

The management monitors our foreign curency

exposure closely and wil consider hedging

significant foreign curency exposure should the

ned arise.

DIVIDENDS

The Board does not recomend the payment of an

interim dividend for the six months ended 31 May

2025 (2024: nil).

OTHER INFORMATION

其他资料

INTERIM REPORT 中期业绩报告 202551

CORPORATE GOVERNANCE

PRACTICES

The Company has adopted the principles and

the code provisions in the Corporate Governance

Code (the “CG Code”) as set out in Part 2 of

Apendix C1 to the GEM Listing Rules.

During the six months ended 31 May 2025, the

Company had complied with the CG Code, except

for the deviation as stated below:

Code Provision C.2.1

Pursuant to code provision C.2.1 of the CG

Code, the roles of chairman and chief executive

oficer should be separated and should not be

performed by the same individual. The division of

responsibilities betwen the chairman and chief

executive oficer should be clearly established and

set out in writing.

Mr. Chong Ye Ping is curently the Chairman

of the Board and the Chief Executive Oficer of

the Company, and is responsible for formulating

the overal busines development strategy and

planing of the Group. In view that Mr. Chong

has ben responsible for the overal management

of the Group since its inception, the Board

believes that it is in the best interest of the Group

to continue to have Mr. Chong taking up both

roles for efective management and busines

development. The Board considers that the

balance of power and authority, acountability and

independent decision-making under our present

arangement wil not be impaired because of the

企业管治守则

本公司已采纳GEM上市规则附录

C1第二部分所载企业管治守则

（「企业管治守则」）之准则及守则

条文。

于截至二零二五年五月三十一日

止六个月，本公司已遵守企业管

治守则，惟下文所述之偏离情况

除外：

守则条文第C.2.1条

根据企业管治守则守则条文第

C.2.1条，主席与行政总裁之角色

应有区分，并不应由同一人兼任。

主席与行政总裁之间的职责分工

应明确规定并以书面载述。

钟宜斌先生目前为本公司之董事

会主席兼行政总裁，并负责制定

本集团之整体业务发展策略及规

划。鉴于钟先生自创立以来一直

负责本集团之整体管理，董事会

相信，钟先生继续兼任该等职务

符合本集团之最佳利益，以取得

有效之管理及业务发展。董事会

认为，目前安排无损权力及授权

与问责性及独立决策能力之平衡，

原因为其他执行董事、非执行董

事及独立非执行董事之多元化背

景及经验。此外，审核委员会可

于其认为有必要时自由及直接联

OTHER INFORMATION

其他资料

52MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

diverse background and experience of the other

executive Director, non-executive Directors and

independent non-executive Directors. Further, the

Audit Comite has fre and direct aces to

the Company’s external auditors and independent

profesional advisers when it considers necesary.

Therefore, the Directors consider that the deviation

from code provision C.2.1 of the CG Code is

apropriate in such circumstance.

In order to maintain god corporate governance

and to fuly comply with code provision C.2.1 of the

CG Code as at the date of this report, the Board

comprises five other experienced and high-calibre

individuals including, one non-executive Director

and thre independent non-executive Directors

who would be able to ofer advice from various

perspectives. In adition, for major decisions of the

Group, the Company wil consult relevant Board

comites and senior management. Considering

the present size and the scope of busines of the

Group, the Board considers that it is not in the best

interest of the Company and the shareholders as

a whole to separate the roles of the chairman and

the chief executive oficer, because the separation

would render the decision-making proces of the

Company les eficient than the curent structure.

Therefore, the Board considers that the present

arangement is beneficial to and in the interest of

the Company and the shareholders as a whole.

系本公司之外部核数师及独立专

业顾问。因此，董事认为偏离企

业管治守则守则条文第C.2.1条在

此情况下属恰当。

为维持良好企业管治及全面遵守

企业管治守则守则条文第C.2.1

条，于本报告日期，董事会还有

其余五名具经验及卓越才干之人

士，包括一名非执行董事及三名

独立非执行董事，彼等能够在不

同方面提供意见。此外，就本集

团之重大决策而言，本公司将会

咨询有关的董事会委员会及高级

管理层。经考虑本集团现时规模

及业务范畴，董事会认为区分主

席与行政总裁之角色并不符合本

公司及股东之整体最佳利益，原

因是相比现有架构，区分该等角

色将令本集团之决策过程效率降

低。因此，董事会认为现时安排

对本公司及股东整体有利及符合

整体利益。

OTHER INFORMATION

其他资料

INTERIM REPORT 中期业绩报告 202553

董事之证券交易

本公司已采纳GEM上市规则第5.46

至5.68条所载交易规定标准（「交

易标准」），作为董事之证券交易

之操作守则。经向所有董事作出

特定查询后，董事各自已确认，

彼自本公司股份首次于联交所上

市当日及直至本报告日期一直遵

守交易标准。

购买、出售或赎回上市证劵

概无本公司或其任何附属公司于

截至二零二五年五月三十一日止

六个月购买、出售或赎回本公司

任何上市证券。

DIRECTORS’ SECURITIES

TRANSACTIONS

The Company has adopted the required standard

of dealings set out in Rules 5.46 to 5.68 of the

GEM Listing Rules (the “Standard of Dealings”),

as the code of conduct regarding the Directors’

securities transactions. Having made specific

enquiries of al Directors, each of the Directors

has confirmed that he/she has complied with the

Standard of Dealings from the date on which the

shares of the Company are first listed on the Stock

Exchange and up to the date of this report.

PURCHASE, SALE OR REDEMPTION

OF LISTED SECURITIES

None of the Company or any of its subsidiaries

purchased, sold or redemed any of the

Company’s listed securities during the six months

ended 31 May 2025.

OTHER INFORMATION

其他资料

54MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

SHARE OPTION SCHEME

The Company conditionaly adopted a share

option scheme (the “Share Option Scheme”) on

19 September 2018. The purpose of the Share

Option Scheme is to grant an option to subscribe

for the shares of the Company (the “Option”) to

eligible persons as defined in the Share Option

Scheme (including, inter alia, directors, employes,

supliers, customers and consultants of the Group)

as incentives or rewards for their contribution to

the Group.

Subject to rules on grant of options to conected

persons of the Company under the GEM Listing

Rules, the total number of shares isued and

which may fal to be isued upon exercise of the

options granted under the Share Option Scheme

and any other share option scheme of the Group

(including both exercised or outstanding options)

to each participant in any 12-month period shal

not exced 1% of the isued share capital of

the Company for the time being, and any further

grant exceding the said limit shal be subject to

shareholders’ aproval at general meting.

购股权计划

本公司于二零一八年九月十九日

有条件地采纳一项购股权计划（「购

股权计划」）。购股权计划旨在向

合资格人士（包括本集团之董事、

雇员、供应商、客户及顾问）（定

义见购股权计划）授出购股权以认

购本公司股份（「购股权」），作为

彼等对本集团作出贡献之奖励或

回报。

根据GEM上市规则授予本公司

关连人士购股权的规定，于任何

十二个月期间，因根据购股权计

划及本集团任何其他购股权计划

向每名参与人士授出的购股权（包

括已行使或尚未行使的购股权）获

行使而已发行及可能发行的股份

总数，不得超过当时本公司已发

行股本的1%，并且超出上述限额

的进一步授予须经股东大会批准。

OTHER INFORMATION

其他资料

INTERIM REPORT 中期业绩报告 202555

购股权计划下每股份的行使价

将由董事厘定，惟不得低于以下

各项中的最高者：(i)建议授予当

日（须为营业日）联交所每日报价

表中所列本公司股份的收市价；(i)

紧接建议授予日期前五个营业日，

联交所每日报价表中所列本公司

股份的平均收市价；及(i)本公司

股份面值。

除非获取消或修订，否则购股权

将自其采纳日期（二零一八年九

月十九日）起计10年内一直有效，

其将于二零二八年九月十八日届

满。自采纳购股权计划起及直至

二零二五年五月三十一日，本公

司并无授出购股权。截至本报告

日期，本公司根据购股权计划有

39,000,000股可供发行之股份（占

于本报告日期本公司现有已发行

股本之8.3%）。购股权可于授出

之日起21日内获接受。接受时须

支付合共1.00港元。除董事另有

决定外，并无可予行使前的最短

持有期限。有关购股权计划之详

情载列于招股章程附录「法定及一

般资料」中「购股权计划」一段。

The exercise price per share under the Share

Option Scheme wil be a price determined by the

Directors but shal not be les than the highest of

(i) the closing price of the shares of the Company

as stated in the Stock Exchange’s daily quotations

shet on the date of the ofer of grant, which must

be a busines day; (i) the average closing price of

the shares of the Company as stated in the Stock

Exchange’s daily quotations for the five busines

days imediately preceding the date of the ofer of

grant; and (i) the nominal value of a share of the

Company.

Unles otherwise canceled or amended, the

Share Option Scheme wil remain in force for a

period of 10 years from the date of its adoption

on 19 September 2018 which shal expire on 18

September 2028. Since the adoption of the Share

Option Scheme and up to 31 May 2025, no Option

has ben granted by the Company. As of the

date of this report, the Company had 39,000,000

shares available for isue under the Share Option

Scheme (representing 8.3% of the existing isued

share capital of the Company as at the date of this

report). An option may be acepted within 21 days

from the date of ofer. A sum of HK$1.00 shal be

payable on aceptance. Unles determined by the

Directors otherwise, there is no minimum holding

period before it can be exercised. Details of the

Share Option Scheme are set out in the paragraph

headed “Share Option Scheme” of the apendix

headed “Statutory and General Information” of the

Prospectus.

OTHER INFORMATION

其他资料

56MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

DIRECTORS’ AND CHIEF

EXECUTIVES’ INTERESTS AND

SHORT POSITIONS IN THE

SHARES, UNDERLYING SHARES

AND DEBENTURES OF THE

COMPANY AND ITS ASOCIATED

CORPORATIONS

At 31 May 2025, the interests and short positions

of the Directors and chief executives of the

Company in the shares, underlying shares and

debentures of the Company and its asociated

corporations (within the meaning of Part XV of the

Securities and Futures Ordinance (Chapter 571 of

the Laws of Hong Kong) (the “SFO”), which were

required (a) to be notified to the Company and the

Stock Exchange pursuant to Divisions 7 and 8 of

Part XV of the SFO; or (b) pursuant to Section 352

of the SFO, to be recorded in the register refered

therein; or (c) pursuant to Rule 5.46 of the GEM

Listing Rules to be notified to the Company and

the Stock Exchange, were as folows:

董事及主要行政人员于本公

司及其相联法团之股份、相

关股份及债券之权益及淡仓

于二零二五年五月三十一日，董

事及本公司主要行政人员于本公

司及其相联法团（定义见香港法例

第571章证券及期货条例（「证券及

期货条例」）第XV部）之股份、相关

股份及债券中，拥有(a)须根据证

券及期货条例第XV部第7及8分部

知会本公司及联交所之权益或淡

仓；或(b)本公司根据证券及期货

条例第352条须记录于该条所指之

登记册内之权益或淡仓；或(c)根

据GEM上市规则第5.46条须知会

本公司及联交所之权益或淡仓如

下：

OTHER INFORMATION

其他资料

INTERIM REPORT 中期业绩报告 202557

于本公司股份或相关股份之好仓：

附注：

(1) Delicate Edge Limited由钟宜斌先

生全资实益拥有，而King Nordic

Limited由谢锦祥先生全资实益

拥有。Delicate Edge Limited及

King Nordic Limited各自持有

98,280,000股份，占本公司已发

行股本总额21.0%。

Long position in the shares or underlying

shares of the Company:

Name of DirectorsCapacity and nature of interest

Number

of shares

interested

(Note 2)

Aproximate

percentage of

the Company’s

isued share

capital

董事姓名身份及权益性质

拥有权益之

股份数目(附注2)

占本公司

已发行股本

概约百分比

Mr. Chong Ye Ping (Note 1)Interests of controled corporation and

person acting in concert

196,560,000 (L)42.0%

钟宜斌先生（附注1）受控法团权益及一致行动人士

Mr. Siah Jin Shyang (Note 1)Interests of controled corporation and

person acting in concert

196,560,000 (L)42.0%

谢锦祥先生（附注1）受控法团权益及一致行动人士

Notes:

(1) Delicate Edge Limited is wholy and beneficialy

owned by Mr. Chong Ye Ping whereas King Nordic

Limited is wholy and beneficialy owned by Mr. Siah

Jin Shyang. Each of Delicate Edge Limited and King

Nordic Limited holds 98,280,000 shares, representing

21.0% of the total isued share capital of the

Company.

OTHER INFORMATION

其他资料

58MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

Mr. Chong Ye Ping and Mr. Siah Jin Shyang

are parties acting in concert (having the meaning

ascribed to it under the Hong Kong Code on

Takeovers and Mergers (the “Takeovers Code”)

as confirmed by them in writing. As such, each of

Mr. Chong Ye Ping, Mr. Siah Jin Shyang, Delicate

Edge Limited and King Nordic Limited is demed to

be interested in 196,560,000 shares held by Delicate

Edge Limited and King Nordic Limited in agregate

under the SFO.

“L” denotes as long positions in the shares

of the Company.

Save as disclosed above, at 31 May 2025, none of

the Directors and chief executives of the Company

and/or any of their respective asociates had

any interests and short positions in the shares,

underlying shares and debentures of the Company

and/or any of its asociated corporations (within

the meaning of Part XV of the SFO) as recorded in

the register required to be kept by the Company

under Section 352 of the SFO or as otherwise

notified to the Company and the Stock Exchange

pursuant to Part XV of the SFO or the GEM Listing

Rules.

诚如钟宜斌先生及谢锦祥先生书

面确认，彼等为一致行动人士（具

香港公司收购及合并守则（「收购

守则」）项下赋予该词之涵义）。

因此，根据证券及期货条例，钟

宜斌先生、谢锦祥先生、Delicate

Edge Limited及King Nordic

Limited各自被视为于Delicate

Edge Limited及King Nordic

Limited合共持有之196,560,000股

股份中拥有权益。

「L」指本公司股份中之好仓。

除上文所披露者外，于二零二五

年五月三十一日，概无董事及本

公司主要行政人员及╱或其各自

之联系人于本公司及╱或其任何

相联法团（定义见证券及期货条例

第XV部）之股份、相关股份及债

券中拥有根据证券及期货条例第

352条须由本公司记录于该条所指

之登记册内之任何权益及淡仓，

或根据证券及期货条例第XV部或

GEM上市规则须知会本公司及联

交所之权益及淡仓。

OTHER INFORMATION

其他资料

INTERIM REPORT 中期业绩报告 202559

董事购入股份或债券之权利

除于上文「董事及主要行政人员于

本公司及其相联法团之股份、相

关股份及债券之权益及淡仓」及「购

股权计划」两段所披露者外，截至

二零二五年五月三十一日止六个

月内任何时间，本公司、其控股

公司或其任何附属公司或相联法

团均无订立任何安排，使董事及

本公司主要行政人员（包括其各自

之配偶及未满18岁之子女）通过购

入本公司或其任何相联法团之股

份或相关股份或债券之方式获得

利益。

主要股东于本公司股份及相

关股份之权益及淡仓

据董事所悉，于二零二五年五月

三十一日，以下人士于本公司股

份或相关股份中拥有或被视作或

当作拥有根据证券及期货条例第

XV部第2及第3分部的条文须作出

披露，或须记录于本公司根据证

券及期货条例第336条所存置的登

记册内的权益及╱或淡仓。

DIRECTORS’ RIGHTS TO ACQUIRE

SHARES OR DEBENTURES

Save as disclosed under the paragraphs headed

“Directors’ and chief executives’ interests

and short positions in the shares, underlying

shares and debentures of the Company and

its asociated corporations” and “Share Option

Scheme” above, at no time during the six months

ended 31 May 2025 was the Company, its holding

company, or any of its subsidiaries or asociated

corporations, a party to any arangement that

would enable the Directors and chief executives

of the Company (including their respective spouse

and children under 18 years of age) to acquire

benefits by means of the acquisition of the shares

or underlying shares in, or debentures of, the

Company or any of its asociated corporations.

SUBSTANTIAL SHAREHOLDERS’

INTERESTS AND SHORT POSITIONS

IN THE SHARES AND UNDERLYING

SHARES OF THE COMPANY

So far as the Directors are aware, at 31 May

2025, the folowing persons have or are demed

or taken to have an interest and/or short position

in the shares or the underlying shares of the

Company which would fal to be disclosed under

the provisions of Divisions 2 and 3 of Part XV of

the SFO or which were recorded in the register

required to be kept by the Company under Section

336 of the SFO.

OTHER INFORMATION

其他资料

60MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

Long position in the shares or underlying

shares of the Company:

Name of

substantial

shareholdersCapacity and nature of interest

Number

of shares

interested

(Note 2)

Aproximate

percentage of

the Company’s

isued share

capital

主要股东名称身份及权益性质

拥有权益之

股份数目(附注2)

占本公司

已发行股本

概约百分比

Delicate Edge Limited

(Note 1)

（附注1）

Beneficial owner and person acting in

concert

实益拥有人及一致行动人士

196,560,000 (L)42.0%

King Nordic Limited

(Note 1)

（附注1）

Beneficial owner and person acting in

concert

实益拥有人及一致行动人士

196,560,000 (L)42.0%

Mr. Lam Pang (Note 3)Beneficial owner38,220,000 (L)8.2%

林鹏先生（附注3）实益拥有人

Notes:

(1) Delicate Edge Limited is wholy and beneficialy

owned by Mr. Chong Ye Ping whereas King Nordic

Limited is wholy and beneficialy owned by Mr. Siah

Jin Shyang. Each of Delicate Edge Limited and King

Nordic Limited holds 98,280,000 shares, representing

21.0% of the total isued share capital of the

Company.

于本公司股份或相关股份之好仓：

附注：

(1) Delicate Edge Limited由钟宜斌先

生全资实益拥有，而King Nordic

Limited由谢锦祥先生全资实益

拥有。Delicate Edge Limited及

King Nordic Limited各自持有

98,280,000股份，占本公司已发

行股本总额21.0%。

OTHER INFORMATION

其他资料

INTERIM REPORT 中期业绩报告 202561

诚如钟宜斌先生及谢锦祥先生书面

确认，彼等为一致行动人士（具收购

守则项下赋予该词之涵义）。因此，

根据证券及期货条例，钟宜斌先生、

谢锦祥先生、Delicate Edge Limited

及King Nordic Limited各自被视为于

Delicate Edge Limited及King Nordic

Limited合共持有之196,560,000股

份中拥有权益。

「L」指本公司股份中之好仓。

(3) 林鹏先生于二零二五年六月出售

其股份，截至本报告日期，林鹏先

生已不再于本公司拥有任何权益。

除上文所披露者外，本公司并不

知悉任何其他人士（本公司董事或

主要行政人员除外）于二零二五年

五月三十一日有关于本公司股份

或相关股份中拥有根据证券及期

货条例第XV部第2及第3分部之条

文须向本公司披露之权益或淡仓、

或记录于根据证券及期货条例第

336条规定须由本公司存置之股东

名册之权益或淡仓。

竞争权益

于二零二五年五月三十一日，概

无董事及本公司控股东或彼等

各自之联系人（定义见GEM上市规

则）于与本集团业务直接或间接构

成竞争之任何其他公司拥有任何

权益。

Mr. Chong Ye Ping and Mr. Siah Jin Shyang

are parties acting in concert (having the meaning

ascribed to it under the Takeovers Code) as

confirmed by them in writing. As such, each of

Mr. Chong Ye Ping, Mr. Siah Jin Shyang, Delicate

Edge Limited and King Nordic Limited is demed to

be interested in 196,560,000 shares held by Delicate

Edge Limited and King Nordic Limited in agregate

under the SFO.

“L” denotes as long positions in the shares

of the Company.

, as

at the date of this report, Mr. Lam Pang ceased to

have any interest in the Company.

Save as disclosed above, at 31 May 2025, the

Company has not ben notified by any persons

(other than the Directors or chief executive of the

Company) who had interests or short positions in

the shares or underlying shares of the Company

which would fal to be disclosed to the Company

under the provisions of Divisions 2 and 3 of Part XV

of the SFO, or which were recorded in the register

required to be kept by the Company under Section

336 of the SFO.

COMPETING INTERESTS

None of the Directors and controling shareholders

of the Company nor their respective asociates

(as defined under the GEM Listing Rules) had any

interest in any other companies at 31 May 2025

which may, directly or indirectly, compete with the

Group’s busines.

OTHER INFORMATION

其他资料

62MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

DED OF NON-COMPETITION

Mr. Chong Ye Ping, Mr. Siah Jin Shyang,

Delicate Edge Limited and King Nordic Limited,

being the controling shareholders (as defined

under the GEM Listing Rules) of the Company,

have executed a ded of non-competition dated

19 September 2018 in favour of the Company

(the “Ded of Non-Competition”). Details of the

Ded of Non- Competition were set out in the

section headed “Relationship with Controling

Shareholders” of the Prospectus.

The independent non-executive Directors of the

Company have reviewed the status of compliance

and confirmed that al the undertakings under the

Ded of Non-Competition have ben complied

with by Mr. Chong Ye Ping, Mr. Siah Jin Shyang,

Delicate Edge Limited and King Nordic Limited

from the Listing up to the date of this report.

不竞争契据

钟宜斌先生、谢锦祥先生、

Delicate Edge Limited及King

Nordic Limited（即本公司控股

东（定义见GEM上市规则）已签

订日期为二零一八年九月十九日

以本公司为受益人之不竞争契据

（「不竞争契据」）。有关不竞争契

据之详情载于招股章程「与控股

东之关系」一节。

由上市起直至本报告日期，本公

司独立非执行董事已审视不竞争

契据的遵守情况并确认钟宜斌先

生、谢锦祥先生、Delicate Edge

Limited及King Nordic Limited已

遵守所有不竞争契据项下之承诺。

OTHER INFORMATION

其他资料

INTERIM REPORT 中期业绩报告 202563

审核委员会

审核委员会于二零一八年九月

十九日成立。审核委员会主席为

独立非执行董事萧剑明先生及其

他成员包括独立非执行董事拿督

杨国喜及刘鸣凤女士。审核委员

会的书面职权范围刊载于联交所

网站及本公司网站。

审核委员会之主要职责为协助董

事会就本公司财务报告程序、内

部监控及风险管理系统之有效性

提供独立意见、监督审核过程及

履行董事会指派之其他职务及职

责。

本集团截至二零二五年五月

三十一日止六个月的未经审核简

明综合财务报表已经由审核委员

会审阅。审核委员会认为，本集

团截至二零二五年五月三十一日

止六个月的未经审核简明综合财

务报表符合适用会计准则及GEM

上市规则，并已作出充足的披露。

AUDIT COMITE

The Audit Comite was established on 19

September 2018. The Chairman of the Audit

Comite is Mr. Siew Kin Meng, the independent

non-executive Director, and other members include

Dato’ Yeong Kok He and Ms. Lau Meng Hong,

the independent non-executive Directors. The

writen terms of reference of the Audit Comite

are posted on the Stock Exchange’s website and

on the Company’s website.

The primary duties of the Audit Comite are to

asist the Board in providing an independent view

of the efectivenes of the Company’s financial

reporting proces, internal control and risk

management system, to overse the audit proces

and to perform other duties and responsibilities as

asigned by the Board.

The Group’s unaudited condensed consolidated

financial statements for the six months ended

31 May 2025 have ben reviewed by the Audit

Comite. The Audit Comite is of the opinion

that the unaudited condensed consolidated

financial statements of the Group for the six months

ended 31 May 2025 comply with aplicable

acounting standards, GEM Listing Rules and that

adequate disclosures have ben made.

OTHER INFORMATION

其他资料

64MINDTEL TECHNOLOGY LIMITED 九福来国际控股有限公司

BOARD OF DIRECTORS

Executive Directors

Mr. Chong Ye Ping

(Chairman and Chief Executive Oficer)

Non-executive Directors

Mr. Siah Jin Shyang

Independent Non-executive Directors

Dato’ Yeong Kok He

Mr. Siew Kin Meng

Ms. Lau Meng Hong

By order of the Board

Mindtel Technology Limited

Chong Ye Ping

Chairman and Chief Executive Oficer

Hong Kong, 22 July 2025

董事会

执行董事

钟宜斌先生

（主席兼行政总裁）

非执行董事

谢锦祥先生

独立非执行董事

拿督杨国喜

萧剑明先生

刘鸣凤女士

承董事会命

Mindtel Technology Limited

钟宜斌

主席兼行政总裁

香港，二零二五年七月二十二日

MINDTELTECHNOLOGYLIMITED

九福来国际控股有限公司

截至二零二五年五月三十一日止六个月

年度业绩公告

CONTENTS

目录

CONDENSED CONSOLIDATED STATEMENT OF PROFIT

OR LOS AND OTHER COMPREHENSIVE INCOME

简明综合损益及其他全面收益表

CONDENSED CONSOLIDATED STATEMENT OF PROFIT

OR LOS AND OTHER COMPREHENSIVE INCOME

简明综合损益及其他全面收益表

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

简明综合财务状况表

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

简明综合财务状况表

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

简明综合权益变动表

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

简明综合权益变动表

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

简明综合现金流量表

Adjustments for:就下列项目作出调整：

Change in working capital:经营资金变动：

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

简明综合现金流量表

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

1. CORPORATE INFORMATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

2. BASIS OF PREPARATION AND

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

2. BASIS OF PREPARATION AND

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

2. BASIS OF PREPARATION AND

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

3. SEGMENT INFORMATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

3. SEGMENT INFORMATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

3. SEGMENT INFORMATION

Other information:其他资料:

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

3. SEGMENT INFORMATION

Other information:其他资料:

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

3. SEGMENT INFORMATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

3. SEGMENT INFORMATION

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

Timing of revenue recognition:收益确认之时间性:

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

5. OTHER INCOME

This is stated after charging:

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

未经审核简明综合财务报表附注

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