华音国际控股中期报告2024/25

HUAYININTERNATIONALHOLDINGSLIMITED 华音国际控股有限公司 (IncorporatedinBermudawithlimitedliability) (于百慕大注册成立之有限公司) StockCode股份代号：989 2024/25 INTERIMREPORT 中期报告 Contents 目录 2CorporateInformation 公司资料 5ManagementDiscussionandAnalysis 管理层讨论与分析 33ReportonReviewofInterimFinancialInformation 中期财务资料审阅报告 36CondensedConsolidatedStatementofProfitorLoss 简明综合损益表 37CondensedConsolidatedStatementofComprehensiveIncome 简明综合全面收入表 38CondensedConsolidatedStatementofFinancialPosition 简明综合财务状况表 40CondensedConsolidatedStatementofChangesinEquity 简明综合权益变动表 41CondensedConsolidatedStatementofCashFlows 简明综合现金流量表 43NotestotheCondensedConsolidatedFinancialStatements 简明综合财务报表附注 97OtherInformation 其他资料 CorporateInformation 公司资料 BOARDOFDIRECTORS ExecutiveDirectors CUIXintong(Chairperson) LIJunjie(ChiefExecutiveOfficer) CONGPeifengXUYingchuan Non-executiveDirectors CUIMindong IndependentNon-executiveDirectors TSANGHungKeiWANGXiaochuWANGXueguang BOARDCOMMITTEES AuditCommittee TSANGHungKei(Chairperson) WANGXiaochuWANGXueguang RemunerationCommittee TSANGHungKei(Chairperson) CUIXintongWANGXiaochuWANGXueguang 董事会 执行董事 崔薪瞳（主席） 李俊杰（行政总裁）丛佩峰 徐映川 非执行董事 崔民东 独立非执行董事 曾鸿基王晓初王雪光 董事委员会 审核委员会 曾鸿基（主席）王晓初 王雪光 薪酬委员会 曾鸿基（主席）崔薪瞳 王晓初王雪光 2HUAYININTERNATIONALHOLDINGSLIMITED华音国际控股有限公司 NominationCommittee CUIXintong(Chairperson) TSANGHungKeiWANGXiaochuWANGXueguang COMPANYSECRETARY NGManKitMicky REGISTEREDOFFICE ClarendonHouse2ChurchStreet HamiltonHM11Bermuda HEADOFFICEANDPRINCIPALPLACEOFBUSINESSINHONGKONG Room1305,13thFloorChinaResourcesBuildingNo.26HarbourRoadWanchai,HongKong Tel:(852)22092888 Fax:(852)22092988 Website:http://www.huayininternational.com PRINCIPALSHAREREGISTRAR MUFGFundServices(Bermuda)Limited4thFloorNorth,CedarHouse 41CedarAvenue HamiltonHM12Bermuda 提名委员会 崔薪瞳（主席）曾鸿基 王晓初王雪光 公司秘书 伍文杰 注册办事处 ClarendonHouse2ChurchStreet HamiltonHM11Bermuda 总办事处及香港主要营业地点 香港湾仔港湾道26号华润大厦 13楼1305室 电话：(852)22092888 传真：(852)22092988 网址：http://www.huayininternational.com 主要股份过户登记处 MUFGFundServices(Bermuda)Limited4thFloorNorth,CedarHouse 41CedarAvenue HamiltonHM12Bermuda InterimReport2024/25中期报告3 CorporateInformation 公司资料 HONGKONGBRANCHSHAREREGISTRAR TricorAbacusLimited 17/F,FarEastFinanceCentre,16HarcourtRoad HongKong HONGKONGLEGALADVISOR MichaelLi&Co. AUDITOR ForvisMazarsCPALimitedCertifiedPublicAccountants PRINCIPALBANKERS HangSengBankLimited STOCKCODE 989 香港股份过户登记分处 卓佳雅柏勤有限公司香港 夏悫道十六号 远东金融中心十七楼 香港法律顾问李智聪律师事务所核数师 富睿玛泽会计师事务所有限公司执业会计师 主要往来银行恒生银行有限公司股份代号 989 4HUAYININTERNATIONALHOLDINGSLIMITED华音国际控股有限公司 ManagementDiscussionandAnalysis 管理层讨论与分析 OVERVIEWANDOUTLOOK Inthepast,theGrouphasbeencarryingoutdebtandequityfinancing(includingtheissuanceofconvertiblebondsandordinaryshares)toraisefundingforitsoperationalneeds.TheGroup’smanagementreviewstheGroup’sdebtandcapitalstructure,includingitsgearinglevel,onatimelybasis.Basedonourrecentreview,theGroup’smanagementisoftheviewthatitisnecessarytobalanceitsoverallcapitalstructurethroughtheredemptionofexistingdebts,whichincludesbankandotherloans,shareholder’sloansandconvertiblebonds. Duringthesecondhalfofthefinancialyear,theGrouphasstrivedtoreducethelevelofdebtsatbothonshoreandoffshorelevel.InApril2024,theGroupenteredintoaloancapitalisationagreement(the“LoanCapitalisationAgreement”)withGroundInvestmentHoldingGroup(HongKong)Co.,Limited.However,tothebestinformationandknowledgeoftheCompany,itisbelievedthatthereisminimalchancefortherequisiteapprovalstobeobtainedonorbefore31December2024(beingthelongstopdateforthecompletionoftheLoanCapitalisationAgreement).Accordingly,theLoanCapitalisationAgreementhasbeenterminatedpursuanttoadeedofterminationon4October2024.PleaserefertotheannouncementsoftheCompanydated14May2024,4October2024andthecircularoftheCompanydated29June2024forfurtherdetails. 概览及前景 过往，本集团一直进行债务及股权融资（包括发行可换股债券及普通股）以筹集营运所需资金。本集团管理层适时检讨本集团的债务和资本结构，包括其负债水平。根据我们最近的审查，本集团管理层认为有必要透过赎回现有债务（包括银行及其他贷款、股东贷款及可换股债券）来平衡整体资本结构。 于本财政年度下半年内，本集团努力降低境内外债务水平。于二零二四年四月，本集团与广泽投资控股集团香港有限公司订立贷款资本化协议（“贷款资本化协议”）。然而，就本公司所知及所信，相信在二零二四年十二月三十一日（即完成贷款资本化协议的最后截止日期）或之前获得所需批准的可能性极微。因此，贷款资本化协议已根据二零二四年十月四日的终止契据终止。详情请参照本公司日期为二零二四年五月十四日及二零二四年十月四日之公告和本公司日期为二零二四年六月二十九日之通函。 InterimReport2024/25中期报告5 ManagementDiscussionandAnalysis 管理层讨论与分析 OVERVIEWANDOUTLOOK(continued) Subsequenttotheinterimperiodended30September2024,inOctober2024,theGroupasvendorenteredintoanequitytransferagreement(the“EquityTransferAgreement”)withanindependentthirdpartyaspurchasertoconditionallydisposeofitsentireequityinterestsinJilinProvinceGroundTourismDevelopmentCompanyLimitedforanominalconsiderationofRMB1.JilinProvinceGroundTourismDevelopmentCompanyLimitedhasaculturaltourismpropertyprojectinFusongCounty,BaishanCity,JilinProvince(the“FusongPropertyProject”).TheFusongPropertyProjecthasitsfirstphasewithGFAof88,034.91sq.msuspendedforconstructionandtheremaininglandparcelswithGFAof588,462.56sq.mareheldforfuturedevelopment.Asthecurrentfinancingmarketremainstight,theGroup’sfinancialpositionandcashflowsisnotinapositiontomeettheexpectedfuturecashflowcommitmentontheproject.Atthesametimetheprojectcompanyhasoutstandingbankandot