HC INTERNATIONAL, INC. * 02280 1,958.3 89.1% 3,702.5 267.8 181.8 47.3% EBITDA* 653.1 555.1 17.7% 0.2559 0.1852 * * 1
3 3,702,466 1,958,283 (2,397,882) (706,264) 44,359 19,590 168,255 106,153 (708,070) (698,524) (304,467) (249,869) 504,661 429,369 (85,962) (49,998) (22,405) (13,502) 19,774 27,633 416,068 393,502 4 (98,758) (92,826) 317,310 300,676 (48,875) 62,400 (28,605) (95,755) 13,724 13,876 253,554 281,197 267,777 181,784 49,533 118,892 317,310 300,676 2
204,021 162,305 49,533 118,892 253,554 281,197 5 0.2651 0.1882 5 0.2559 0.1852 3
166,671 171,408 642,087 660,345 286,358 309,516 2,376,400 1,521,619 9 11,146 2,589 10 304,400 29,422 21,115 11,386 124,583 579,023 8 528,960 484,071 4,600 4,461,720 3,773,979 110,750 364,617 49,335 81,351 155,587 352,327 10 1,345,918 52,714 9 164,046 119,997 9 290,848 154,989 142,910 3,590 8 39,500 212,646 172,021 172,686 401,918 963,523 2,872,833 2,478,440 7,334,553 6,252,419 100,740 93,885 2,737,941 2,307,761 815,417 587,143 3,654,098 2,988,789 803,031 279,354 4,457,129 3,268,143 4
11 712,376 127,376 11 267,412 22,206 175,658 185,508 271,710 144,654 40,282 40,282 115,672 27,123 1,583,110 547,149 158 12 19,482 7,916 12 219,864 216,882 12 158,983 244,367 11 393,837 724,528 11 123,505 9,372 20,627 14,500 163,581 453,540 41,387 654,743 53,328 14,377 34,422 36,898 65,298 59,846 1,294,314 2,437,127 2,877,424 2,984,276 7,334,553 6,252,419 5
85,090 1,976,484 405,359 2,466,933 132,013 2,598,946 181,784 181,784 118,892 300,676 62,400 62,400 62,400 (95,755) (95,755) (95,755) 13,876 13,876 13,876 (19,479) 181,784 162,305 118,892 281,197 8,045 326,506 334,551 334,551 (529) (60,410) (60,939) (60,939) 1,279 10,429 11,708 11,708 29,566 29,566 29,566 (6,386) (6,386) (6,386) 14,085 14,085 11,112 11,112 51,051 51,051 3,252 54,303 8,795 350,756 359,551 28,449 388,000 93,885 2,307,761 587,143 2,988,789 279,354 3,268,143 6
93,885 2,307,761 587,143 2,988,789 279,354 3,268,143 267,777 267,777 49,533 317,310 (48,875) (48,875) (48,875) (28,605) (28,605) (28,605) 13,724 13,724 13,724 (63,756) 267,777 204,021 49,533 253,554 358 24,352 24,710 24,710 7,438 513,227 520,665 520,665 (982) (24,317) (982) (26,281) (26,281) 41 476 517 517 33,815 33,815 33,815 (47,494) 22,817 (24,677) (24,677) 471,808 471,808 8,713 8,713 (6,123) (6,123) (6,377) (12,500) (61,338) (61,338) (61,338) 6,855 493,936 (39,503) 461,288 474,144 935,432 100,740 2,737,941 815,417 3,654,098 803,031 4,457,129 7
1 4 Floor, One Capital Place, P.O. Box 847, George Town, Grand Cayman, Cayman Islands, British West Indies B2B B2B hc360.com zol.com. cn IT B2B O2O Huijia Yuantian Limited Huijia Yuantian Limited 3 30%70% 3 8
2 (a) (i) 22 (ii) (iii) 7 12 12 (iv) (2) 28 (1) 40 (1) 1 (1) 2 (1) 4 9 4 (1) 9 (1) 9 (2) 10 28 (4) 15 (1) 15 15 (1) 16 (2) 17 (3) (1) 22 (2) 23 9
2 (a) (iv) (1) (2) (3) (4) 9 9 39 9 9 39 9 12 12 9 39 9 10
2 (a) (iv) 15 15 18 11 15 (1) (2) (3) (4) (5) 15 15 16 16 16 17 205,310,000 11
2 (a) (iv) 16 3 (i) (ii) (iii) (iv) (v) (vi) O2O B2B B2B 12
3 O2O B2B a b 951,170 131,723 433,097 2,041,038 106,066 39,372 3,702,466 202,789 9,358 72,408 (17,797) (5,546) 30,835 292,047 44,359 168,255 (6,902) (15,035) (468) (22,405) 19,774 19,774 21,105 (107,067) 416,068 81,062 4,022 24,319 224 6,380 1,223 117,230 24,493 1,932 4,708 345 1,380 957 33,815 13
3 O2O B2B a b 823,106 93,179 842,081 126,197 66,137 7,583 1,958,283 76,597 4,509 226,294 (11,667) (17,542) 4,571 282,762 19,590 127,017 (19,355) 5,855 (2) (13,502) 27,633 27,633 47,375 (97,373) 393,502 69,119 2,221 4,252 128 6,310 82,030 21,538 2,568 3,678 1,368 414 29,566 (a) (b) B2B (i) (ii) (iii) (i) (ii) (iii) hc360.com zol.com.cn O2O B2B 2017 14
3 3,471,516,000 2,662,888,000 4 65,335 57,316 17,046 36,187 22,800 (11,002) (677) 4,579 98,758 92,826 5 267,777 181,784 1,010,215 965,982 36,083 15,728 1,046,298 981,710 0.2651 0.1882 0.2559 0.1852 15
6 0.02 a 17,953 0.05 b 43,385 17,953 43,385 (a) (b) 0.02 0.0543,385,000 7 (a) Huijia Yuantian Limited Mu Hao Holdings Limited Hong Rui Technology Holdings Limited Chance Technology Co. ltd Vanguard Technology Holdings LimitedHJ HJ HJ Huijia Yuantian Limited 362,000,000 409,091,000 162,652,000 184,091,000 Huijia Yuantian Limited Huijia Yuantian Limited 250,096,000 Huijia Yuantian Limited 16
7 (a) Huijia Yuantian Limited Huijia Yuantian Limited 162,652 182,200 344,852 3,753 379 5,645 105,500 (4,266) (15,825) (133) 95,053 (297) 250,096 344,852 (b) 30% 541,819,000 30% 40% 117,963,00040% 460,037,000 19,626,000 17
7 (b) 541,819 578,000 1,119,819 70,207 83 14,290 1,472,046 15,991 554,000 7,900 (30,883) (368,890) (140,475) (21,489) (1,076) 1,571,704 (471,511) 19,626 1,119,819 18
8 i 329,137 92,553 421,690 407,935 407,935 (181,340) (32,553) (213,893) 27,257 46,636 73,893 7,092 7,092 182,146 514,571 696,717 (484,071) (484,071) 182,146 30,500 212,646 182,146 514,571 696,717 58,400 58,400 (91,935) (30,500) (122,435) (84,989) 25,989 (59,000) (5,222) - (5,222) 568,460 568,460 (528,960) (528,960) 39,500 39,500 447,000 422,000 i 19
9 a 308,762 162,632 (17,914) (7,643) 290,848 154,989 175,192 122,586 466,040 277,575 (11,146) (2,589) 454,894 274,986 (a) 90 270 90 176,883 98,603 91 180 59,654 37,608 181 270 32,837 17,085 271 365 16,045 3,098 23,343 6,238 308,762 162,632 13,459,000 878,000 17,914,000 7,643,000 20
9 (a) 27,891,000 21,552,000 91 180 2,759 2,773 181 270 1,805 15,502 271 365 14,466 2,876 1 8,861 401 27,891 21,552 7,643 9,371 13,459 878 (3,188) (2,606) 17,914 7,643 21
10. 65,540 47,540 10,350 28,824 a 1,632,113 19,565 5,772 1,727,568 82,136 (16,176) (61,074) (77,250) 1,650,318 82,136 (304,400) (29,422) 1,345,918 52,714 a 847,989 784,124 1,632,113 (16,176) (61,074) (77,250) 1,554,863 (269,794) 1,285,069 12.7% 1,632,113,000 22
11 712,376 127,376 267,412 22,206 979,788 149,582 393,837 724,528 123,505 9,372 517,342 733,900 1,497,130 883,482 883,482 527,309 368,890 944,368 940,818 (699,610) (584,645) 1,497,130 883,482 5.98 5.95 507,376,000 1,054,040,000 257,271,000 6.2 6.3 6.2 255,000,000 381,730,000 23
11 393,837 724,528 123,505 9,372 572,376 127,376 257,555 19,792 140,000 9,857 2,414 1,106,213 851,904 390,917 31,578 12,624,000 12 a 19,482 7,916 158,983 244,367 28,190 22,826 17,564 15,385 72,903 109,647 73,507 51,528 27,700 17,496 398,329 469,165 (a) 90 9,843 6,136 91 180 6,426 1,163 181 365 2,142 395 1,071 222 19,482 7,916 24
3,702,466,000 1,958,283,000 89.1%B2B 2,041,038,000 951,170,000823,106,000 15.6% 131,723,000 93,179,00041.4% 66,137,000 106,066,000 60.4%39,372,000 O2O 433,097,000 948,393,0001,012,537,000 317,310,000 300,676,000 0.05 25
+ + (hc360.com) (zol.com.cn) 500 B2B 5G 26
10.09.2 9.1% (ibuychem.com) 20 B2B 100 800 50 B2B 27
24.9 9.8 155.2% (430073.NEEQ) 2025 500 23 30 30 6 28
31 2025 B2B 2.10.7 220.6% 27.08% 67.3% 5.7% 29
GDP 4.4% 10% 7 30002025 + 30
963,523,000 561,605,000 401,918,000. 1,538,517,000 1,538,383,000 20% 13% 730,298,000 1,578,519,000 41,313,000 2.22 1.02 24.52 21.98 Huijia Yuantian Limited Mu Hao Holdings Limited Hong Rui Technology Holdings Limited Chance Technology Co. Ltd Vanguard Technology Holdings Limited Huijia Yuantian Limited 409,090,909 360,000,000 184,090,909 162,000,000 225,000,000 198,000,000 31
120,000,000 Daxiong Holdings Limited Hanson He Holdings Limited Richard Chen Holdings Limited Mr Moustache Holdings Limited ZhongFu Holdings Limited 170,807,500 (i) (ii) 100,712,500 10,000,000 13,000,000 16,900,000 10,000,000 10.00 40,427,500 4,042,750 32
ORANGE TRIANGLE INC. ORANGE (HK) ORANGE BEIJING NAVIIT LIMITED Orange Orange Orange Orange Triangle Inc. 1,500,000,000 Orange 70%1,050,000,000 8.5 155,684,485 100,000,000 130,000,000 170,000,000 130,000,000 Orange Orange Orange Orange 44,479,057 00861 60% 33
40% 60% 1,083,637,320 1,227,000,000 7.0 175,285,714 30% 541,818,660 0.88316613,500,000 541,818,660 541,866,000 34
87,642,857 Talent Gain Developments Limited 23.37% 2,000 500 6.476 29,930,000 29,930,000 (a) (b) (c) 35
780,000,000 5.00% 780,000,000 728,400,000 51,600,000 (a) (b) 474,000 87,642,857 12,290,000 5,990,000 6,300,000 4,844,000 4,844,000 1,085,323,710 1,004,308,103 2,578 1,147 313 391 36
507,376,000 255,000,000 10 A1 7 (100026) (i) (ii) 36,028,500 10 7.5 37
36,028,500 1,085,323,710 3.32% 1,121,352,2103.21% 3,602,850 38
14 25% 3.13 39
4,844,000 4,844,000 Lee Wee Ong (http://www.hkexnews.hk) http://www.hcgroup.com 40