ZMJ Group Company Limited

中創智領（鄭州）工業技術集團股份有限公司

ZMJ Group Company Limited

中創智領（鄭州）工業技術集團股份有限公司

2025

INTERIM REPORT

中 期 報 告Corporate Profile 公司簡介

Zhengzhou Coal Mining Machinery the predecessor of ZMJ Group Company Limited (formerly known as Zhengzhou Coal Mining Machinery Group Company

Limited) (the “Company” or “ZMJ”) was established in 1958 and incorporated in the People’s Republic of China (the “PRC”) on 6 November 2002 as a

limited liability company and incorporated in the PRC as a joint stock company with limited liability on 28 December 2008. The Company’s A shares were listed

on the Main Board of Shanghai Stock Exchange on 3 August 2010. The Company’s H shares were listed on the Main Board of The Stock Exchange of Hong

Kong Limited (the “Stock Exchange”) on 5 December 2012.The Company is a leading comprehensive coal mining and excavating equipment manufacturer in the PRC. The principal businesses of the Company’s coal

mining machinery segment are complete sets of equipment for integrated coal mining the R&D design production sales and services of intelligent control

system with products used by the major coal industry groups throughout the country and successively exported to various countries. The coal mine hydraulic

support with the highest supporting height and the highest resistance globally the domestically first whole set and intelligent equipment for integrated mining

supplied by a single factory and the domestically first exported whole set equipment for integrated mining are researched and developed and manufactured by

the Company.There are two brands under the auto parts segment of the Company being SEG and ASIMCO. SEG is a world-leading technology and service provider for

automobile starter motors and generators which constantly drives auto energy conservation and emission reduction and technological innovation leading the

developments of green travel technology. Also its technology of 48V low-voltage hybrid motors and market shares are world-leading. Relying on its high-end

R&D advantages worldwide sales network and quickly responding locally high-voltage drive motor for new energy vehicles progresses quickly. The principal

products of ASIMCO include parts using materials application technology as their core such as engine cylinder blocks and heads camshaft and powder

metallurgy products noise and vibration absorber and brake seal piston ring and valve seat ring. Also ASIMCO is committed to researching and developing

high-efficient and intelligent air suspension system and strives to march into new energy automobile chassis sector to provide high quality parts products for

PRC and global auto markets.The established operating history high quality products strong research and development capabilities advanced manufacturing processes and extensive

sales and service network of the Company and its subsidiaries are the keys to its success and enable it to maintain its leading position in the coal mining and

excavating equipment market and auto parts market.中創智領（鄭州）工業技術集團股份有限公司（前稱鄭州煤礦機械集團股份有限公司）（「本公司」或「公司」或「中創智領」）的前身為鄭州煤礦機械廠，始建於1958年，於2002年11月6日在中華人民共和國（「中國」）註冊成立為有限責任公司，於2008年12月28日在中國註冊成立為股份制有限公司。本公司的A股於2010年8月3日在上海證券交易所主板上市。本公司的H股於2012年12月5日在香港聯合交易所有限公司（「聯交所」）主板上市。

本公司為中國領先的煤炭綜採綜掘設備製造商，本公司煤機板塊主營業務為煤炭綜採工作面成套裝備、智能化控制系統的研發、設計、生產、銷售和服務，產品遍佈全國各大煤業集團，並先後出口到多個國家。世界支護高度最高、工作阻力最大的煤礦液壓支架，國內首套由單一廠家供應的成套化智能綜採工作面以及國內首套成套化綜採出口裝備，均由本公司研發製造。

本公司汽車零部件板塊旗下擁有索恩格、亞新科兩大品牌。索恩格是全球領先的汽車起動機和發電機技術及服務供應商，持續推動汽車節能減排技術創新，引領綠色出行技術的發展，48V弱混合動力系統技術和市場份額世界領先，新能源汽車高壓驅動電機依託高端研發優勢、全球化銷售網絡及本地化快速響應，進展迅速。亞新科主要產品有以材料應用技術為核心的發動機缸體缸蓋、凸輪軸和粉末冶金製品等，降噪減振及制動密封件、活塞環、氣門座圈等部件，同時致力於研發高效、智能的空氣懸掛系統，全力向新能源汽車底盤領域進軍，為中國乃至全球的汽車市場提供高品質的零部件產品。

本公司及附屬公司悠久的經營歷史、優質產品、強勁的研發能力、先進的製造流程及龐大的銷售及服務網絡乃是公司達到成功的關鍵，並使公司能夠維持在煤炭採掘設備市場及汽車零部件市埸的領先地位。Contents 目錄Corporate Information 公司資料 2

Chairman’s Statement 董事長報告書 5

Management Discussion and Analysis 管理層討論與分析 11

Directors Supervisors and Chief Executives 董事、監事及最高行政人員 19

Material Events 重要事項 26

Report on Review of 簡明綜合財務資料的審閱報告 31

Condensed Consolidated Financial Statements

Condensed Consolidated Statement of 簡明綜合損益及其他全面收益表 33

Profit or Loss and Other Comprehensive Income

Condensed Consolidated 簡明綜合財務狀況表 35

Statement of Financial Position

Condensed Consolidated 簡明綜合權益變動表 37

Statement of Changes in Equity

Condensed Consolidated 簡明綜合現金流量表 39

Statement of Cash Flows

Notes to the Condensed 簡明綜合財務報表附註 42

Consolidated Financial StatementsCorporate Information公司資料

Directors 董事

Mr. Jiao Chengyao (Chairman and Executive Director) 焦承堯先生（董事長兼執行董事）

Mr. Jia Hao (Vice Chairman Executive Director and Employee Director) 賈浩先生（副董事長、執行董事、職工董事）

Mr. Meng Hechao (Executive Director) 孟賀超先生（執行董事）

Mr. Li Kaishun (Executive Director) 李開順先生（執行董事）

Mr. Cui Kai (Non-executive Director) 崔凱先生（非執行董事）

Mr. Cheng Jinglei (Independent Non-executive Director) 程驚雷先生（獨立非執行董事）

Mr. Ji Feng (Independent Non-executive Director) 季豐先生（獨立非執行董事）

Mr. Fang Yuan (Independent Non-executive Director) 方遠先生（獨立非執行董事）

Ms. Yao Yanqiu (Independent Non-executive Director) 姚艷秋女士（獨立非執行董事）

Mr. Fu Zugang (Executive Director) 付祖岡先生（執行董事）

(resignation EFFECTIVE from 9 January 2025) （於2025年1月9日離任）

Mr. Yue Taiyu (Non-executive Director) 岳泰宇先生（非執行董事）

(resignation EFFECTIVE from 9 January 2025) （於2025年1月9日離任）Supervisors (On 17 June 2025 the board of supervisors was abolished 監事（於2025年6月17日取消監事會，and all supervisors retired) 監事全部退任）

Mr. Liu Qiang (Chairman of the Board of Supervisors) 劉強先生（監事會主席）

(retirement EFFECTIVE from 17 June 2025) （於2025年6月17日退任）

Mr. Cheng Xiangdong (retirement EFFECTIVE from 17 June 2025) 程翔東先生（於2025年6月17日退任）

Ms. Zhu Yuan (retirement EFFECTIVE from 17 June 2025) 祝願女士（於2025年6月17日退任）

Strategy and Sustainable Development Committee 戰略與可持續發展委員會

Mr. Jiao Chengyao (Chairman) 焦承堯先生（主席）

Mr. Jia Hao 賈浩先生

Mr. Cheng Jinglei 程驚雷先生

Mr. Fu Zugang (resignation EFFECTIVE from 9 January 2025) 付祖岡先生（於2025年1月9日離任）

Mr. Yue Taiyu (resignation EFFECTIVE from 9 January 2025) 岳泰宇先生（於2025年1月9日離任）

Audit and Risk Management Committee 審計與風險管理委員會

Mr. Ji Feng (Chairman) 季豐先生（主席）

Mr. Cui Kai 崔凱先生

Ms. Yao Yanqiu 姚艷秋女士

Nomination Committee 提名委員會

Ms. Yao Yanqiu (Chairman) 姚艷秋女士（主席）

Mr. Cheng Jinglei 程驚雷先生

Mr. Jia Hao 賈浩先生

Remuneration and Assessment Committee 薪酬與考核委員會

Mr. Ji Feng (Chairman) 季豐先生（主席）

Mr. Jia Hao 賈浩先生

Mr. Fang Yuan 方遠先生

2 ZMJ Group Company Limited INTERIM REPORT 2025Corporate Information

公司資料

Auditors 核數師

International auditors: 國際：

Deloitte Touche Tohmatsu 德勤 *關黃陳方會計師行

35/F One Pacific Place 88 Queensway Hong Kong 香港金鐘道88號太古廣場一期35樓

Domestic auditors: 境內：

BDO CHINA SHU LUN PAN Certified Public Accountants LLP 立信會計師事務所（特殊普通合夥）

4th Floor No. 61 Nanjing East Road Shanghai 200002 上海市南京東路61號4樓，郵編：200002

Principal Place of Business in Hong Kong 香港主要營業地點

40/F Dah Sing Financial Centre 248 Queen’s Road East Wanchai Hong Kong 香港灣仔皇后大道東248號大新金融中心40樓

Registered Office in the PRC 中國註冊辦事處

No. 167 9th Street Zhengzhou Section 中國河南自貿試驗區鄭州片區（經開）

(Econ-Tech Development Zone) of China (He’nan) Pilot Free Trade Zone PRC 第九大街167號

Headquarters in the PRC 中國總辦事處

No. 167 9th Street Zhengzhou Section 中國河南自貿試驗區鄭州片區（經開）

(Econ-Tech Development Zone) of China (He’nan) Pilot Free Trade Zone PRC 第九大街167號

Company’s Website 公司網站

www.zmj.com www.zmj.com

H Share Registrar H股股份登記處

Computershare Hong Kong Investor Services Limited 香港中央證券登記有限公司

Shops 1712–1716 17th Floor Hopewell Centre 香港灣仔皇后大道東183號

183 Queen’s Road East Wanchai Hong Kong 合和中心17樓1712–1716號舖

A Share Registrar A股股份登記處

Shanghai Branch 中國證券登記結算有限責任公司

China Securities Depository and Clearing Corporation Limited 上海分公司

No. 188 Yanggao South Road Pudong New District Shanghai 上海市浦東新區楊高南路188號

Stock Codes 股份代碼

H Share: 00564 (The Stock Exchange of Hong Kong Limited) H股：0056（4 香港聯合交易所有限公司）

A Share: 601717 (Shanghai Stock Exchange) A股：60171（7 上海證券交易所）

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 3Corporate Information

公司資料

Principal Banks 主要往來銀行

Industrial and Commercial Bank of China Limited 中國工商銀行股份有限公司

Jianshe Road Branch Zhengzhou 鄭州建設路支行

No. 11 West Jianshe Road Zhongyuan District Zhengzhou Henan Province PRC 中國河南省鄭州市中原區建設西路11號

China Construction Bank 中國建設銀行股份有限公司

Zhengzhou Jinshui Branch 鄭州金水支行

No. 29 Jinshui Road Jinshui District Zhengzhou Henan Province PRC 中國河南省鄭州市金水區金水路29號

Company Secretaries 公司秘書

Mr. Zhang Yichen 張易辰先生

Ms. Chan Yin Wah 陳燕華女士

Authorized Representatives 授權代表

Mr. Jiao Chengyao 焦承堯先生

Mr. Zhang Yichen 張易辰先生

Legal Advisers 法律顧問

As to Hong Kong law: 香港法律：

Clifford Chance 高偉紳律師行

As to PRC law: 中國法律：

Haiwen & Partners 海問律師事務所

4 ZMJ Group Company Limited INTERIM REPORT 2025Chairman’s Statement

董事長報告書

In the first half of 2025 given the impact of multiple factors including trade 2025年上半年，全球經濟復蘇動力不均，受到貿易摩disputes tariff disruptions weakening demand monetary policy adjustments 擦、關稅擾動、需求變弱、貨幣政策調整以及地緣政

and geopolitical risks uneven recovery of the global economy was seen thus 治風險等多重因素的影響，呈現出複雜且充滿不確定性presenting a complicated and uncertain landscape. Domestically boasting 的特徵。國內穩經濟政策多措並舉，新質生產力加速發the implementation of a series of policies to stabilize the economy and the 展，經濟展現出一定韌性，延續恢復向好態勢，整體運accelerated development of new-quality productivity the economy demonstrated 行平穩。面對複雜多變的國內外環境，公司圍繞「成為resilience to a certain extent continued its positive recovery and maintained 全球領先並可持續發展的智能工業解決方案提供商」願

stable operation as a whole. Amidst the complicated and volatile domestic and 景，聚焦戰略目標，堅持以科技創新為引領，持續強化international environment the Company being centered around its vision of 創新驅動，全力推動數字化轉型，扎實有序推進公司各“becoming a global leading and sustainable provider of intelligent industrial 項工作，實現經營業績的穩定增長。solutions” and focused on its strategic targets adhered to technological

innovation as its guiding principle. The Company also continuously strengthened

its innovation-driven approach fully facilitated digital transformation and

advanced all aspects of its work steadily and orderly achieving steady growth in

operating results accordingly.During the report ing period the Group achieved sales revenue of 報告期內，本集團實現銷售收入人民幣19981.54百萬RMB19981.54 million a year-on-year increase of 5.42%. Profit attributable 元，較上年度同期上升5.42%。本公司股東應佔溢利為to shareholders of the Company was RMB2527.45 million a year-on-year 人民幣2527.45百萬元，較上年度同期上升16.22%。每increase of 16.22%. Earnings per share were RMB1.43. 股盈利為人民幣1.43元。

(I) The Group Renamed and Embarked on a New （一） 集團更名煥新啟程，煤機重組專業Journey and Coal Mining Machinery was 運營

Restructured for Professional Operation

In recent years the Company adhered to the transformation and development 近年來，公司堅持電動化、智能化、數字化、全球化的strategy of electrification intelligentization digitalization and globalization 轉型方向和發展思路，擁抱人工智能，強化綠色及可持for the purpose of adapting to artificial intelligence strengthening innovation 續發展相關技術的創新迭代，持續加快轉型升級的步and iteration in green and sustainable development-related technologies and 伐。為了更加全面地體現公司的核心業務和產業布局，accelerating its transformation and upgrading continuously. To reflect the 準確反映公司未來戰略發展方向，同時理順上市公司總Company’s core business and industrial layout comprehensively demonstrate 部與各產業板塊的關係，完善各產業板塊的權責及任the Company’s future strategic development direction accurately streamline 務，上市公司名稱已變更為「中創智領（鄭州）工業技術the relationship between the listed company’s headquarters and its various 集團股份有限公司」，同時實施煤機業務重組，將上市industrial sectors and clarify the responsibilities and tasks of each industrial 公司煤機業務相關資產（含直接持有的煤機板塊相關子sector the listed company has changed its name to “ZMJ Group Company 公司股權）、負債、業務、人員整體劃入全資子公司鄭Limited” and simultaneously implemented a restructuring of its coal mining 煤機智鼎液壓有限公司（已更名為「鄭州煤礦機械集團有machinery business. The listed company’s coal mining machinery-related assets 限責任公司」，簡稱「鄭煤機有限」）。

(including directly held equity in subsidiaries in the coal mining machinery

sector) liabilities operation and personnel were transferred to its wholly-ownedsubsidiary ZMJ Zhiding Hydraulics Company Limited (renamed “ZhengzhouCoal Mining Machinery Group Co. Ltd. (鄭州煤礦機械集團有限責任公司)” hereinafter referred to as “ZMJ Limited (鄭煤機有限)”).

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 5Chairman’s Statement

董事長報告書

The rename restructuring and transfer of equity interests of the coal mining 通過實施上市公司更名和煤機業務重組劃轉，有利於公machinery business enabled the Company’s headquarters to focus on strategic 司總部聚焦戰略管控，資源優化整合，推動煤機業務專management optimize and consolidate resources and facilitate the professional 業化經營管理。後續上市公司總部將以「中創智領」的名operation and management of the coal mining machinery business. Going 字運行，煤機板塊將繼續以「鄭煤機」品牌引領全球煤機forward the listed company’s headquarters will operate under the name 行業發展，汽車零部件板塊將以索恩格、亞新科等品牌of “ZCZL.” The coal mining machinery segment will continue to lead the 專注於智能電動汽車市場，打造工業智能板塊以恒達智global coal mining machinery business under the brand name of “ZMJ”. The 控、數耘等品牌專注於礦山、工廠等全場景的數字化，automotive parts segment will focus on the smart electric vehicle market with 公司將積極響應國家戰略，堅持自主創新，發展智能產brand names of SEG and ASIMCO. The industrial intelligence segment will 品、智能製造，努力打造多家細分行業領先企業，引領focus on the digitalization of all scenarios including mines and factories with 細分行業工業技術進步，向全球客戶提供一流的產品和brand names such as Hengda Intelligent Control and Shuyun. The Company 服務。

will actively respond to strategies of China adhere to independent innovation

develop smart products and intelligent manufacturing strive to build leading

companies in various sub-sectors lead industrial technological advancement

in these sub-sectors and provide products and services of the top quality to

customers around the world.(II) The Company Advanced Digital Transformation （二） 持續推進數字化轉型，培育發展新and Cultivated New-quality Productivity 質生產力

Continuously

The Company continued to implement its digital transformation plan and 公司持續推動數字化轉型規劃落地，發展全球治理，提develop global governance so as to enhance the Group’s operational efficiency 升集團運營效率和市場競爭力。完成集團數字化轉型戰and competitiveness in the market. The Company also completed its strategic 略規劃，明確新形勢下的全球IT架構，完成集團IT應用digital transformation plan well defined its global IT mechanism under the 架構、數據架構、技術架構的設計和政策、流程和標準

new landscape and finalized the design of its IT application mechanism data 的制定；以集團戰略執行跟蹤指標及各板塊業績考核指

architecture and technical architecture as well as the formulation of policies 標為基礎，完成集團管報架構搭建，提升集團治理能力processes and standards. By referencing the Group’s strategic execution 和運營效率。圍繞智能化能力的構建與提升，全面推進tracking indicators and the performance evaluation indicators of each segment AI技術在公司各業務場景中的落地應用，提升內部管理the Company established a corporate management and reporting structure 效率和客戶服務水平。支持各業務板塊數字化升級，為to enhance the Group’s governance and operational efficiency. Focusing on 業務板塊發展賦能，索恩格SAP項目第一階段里程碑建building and enhancing intelligent capabilities the Company comprehensively 設順利完成，煤機售後服務大數據平台、APS自動排產promoted the implementation of AI technology across all of its business 等系統上線試運行，亞新科供應鏈和物料管理數字化項scenarios thereby improving the internal management efficiency and the 目進展順利，索恩格墨西哥工廠生產現場管理看板運行quality of customer service. The Company supported digital upgrades across 順暢，實現產線數據透明化，推動車間管理從「經驗驅all business segments and empowered their development. Accordingly the 動」轉向「數據驅動」。

Company successfully completed the first phase of the SAP project of SEG.With the launch and trial run of the big data platform of coal mining machinery

after-sales service and the APS automated production scheduling system the

digitalization project of ASIMCO’s supply chain and materials management were

well on track. The production site management dashboard at the Mexican plant

of SEG operated smoothly bringing about transparency in production line data

and shifting workshop management from “experience-driven” to “data-driven.”

6 ZMJ Group Company Limited INTERIM REPORT 2025Chairman’s Statement

董事長報告書

(III) The Coal Mining Machinery Segment Leveraged （三） 煤機板塊以智能成套為引領，打造Comprehensive Intelligence to Generate 差異化優勢

Differentiated Advantages

In the first half of 2025 a slack supply and demand environment was witnessed 2025年上半年國內煤炭市場呈現供需寬鬆態勢，煤炭價in the domestic coal market with coal prices fluctuating downward significantly. 格震盪下行，煤機設備市場需求下行壓力增大，但加速Despite the increased downward pressure on market demand for coal mining 向智能化、綠色化轉型。在煤炭市場下行、市場競爭加machinery the transition towards intelligent and green equipment speeded up. 劇的嚴峻形勢下，公司煤機板塊以用戶需求為導向，積Amidst the challenging conditions of a declining coal market and intensified 極創新求變，打造差異化的技術、產品和服務，增強市competition the coal mining machinery segment of the Company guided by 場競爭力；加快出海步伐，全力支持海外市場拓展，在user needs actively innovated and transformed thereby creating differentiated 主要產煤國獲得廣泛認可。

technologies products and services to enhance its competitiveness in the

market. The Company also accelerated the pace of going global fully supported

overseas market expansion gaining wide recognition in major coal-producing

countries.In the first half of 2025 the coal mining machinery segment achieved operating 2025年上半年，煤機板塊實現營業收入10148.70百萬revenue of RMB10148.70 million profits grew steadily period-on-period the 元，利潤同比穩定增長，繼續發揮著集團壓艙石的作overseas market order amount was RMB775 million a year-on-year increase of 用，海外市場訂貨額7.75 億元，同比增長137%，延續

137% continuing to play a pivotal role for the Group and maintaining its positive 著高質量發展的良好態勢。

momentum towards high-quality development.With customer value as its anchor and technological innovation as its engine 公司以客戶價值為錨點，以科技創新為引擎，打造推the Company developed and promoted intelligent and integrated solutions. 廣智能成套一體化解決方案，從「設備堆砌」到「系統共From “equipment stacking” to “harmony coexistence of systems” the Company 生」，將採煤機、液壓支架、刮板機等設備深度集成，further integrated equipment like shearers hydraulic supports and scrapers. 通過統一平台、統一架構實現數據互通、協同作業，大Data interoperability and collaborative operations were enabled by the unified 幅提高煤炭開採效率，將安全可靠性推向新高度；構建platform and mechanism significantly improving coal mining efficiency and 「遠程智採系統+全礦井AI分析+工業互聯網平台+智能管

bringing safety and reliability to top levels. In addition the Company established 控平台」的數字閉環，讓礦山從「人工經驗管理」轉向「數a digital closed loop consisting of a “remote intelligent mining system + mine- 據智能驅動」；推進露天連續開採、綠色開採、智能掘wide AI analysis + industrial Internet platform + intelligent management and 進、礦用輔助機器人等新產品研發應用，研發構建煤礦control platform” enabling mines to transform from “manual experience 機器人技術體系，確保在煤機市場中的領先地位；組建management” to “data-driven intelligence.” The Company also developed 合資公司創信數智，聚焦煤礦「生產運營、安全運營、and built a coal mining robotics technology ecosystem by facilitating the 裝備運營」三大方向，運用數智手段為客戶提供多場景development and application of new products including open-pit continuous 服務，打造「礦山與裝備製造數智化運營」新模式。加速mining green mining intelligent tunneling and mining assistance robots for the 智能工廠建設升級，完善數字化轉型總體框架，推進重sake of securing its leading position in the market of coal mining machinery. 點數字化項目，以數字驅動業務全流程變革。

Besides the Company established Chuangxin Digital Intelligence a joint venturefocusing on the three key areas of coal mining namely “production operationssafety operations and equipment operations”. It utilized digital intelligence to

provide customers with multi-scenario services and created a new model of

“digitalized operations for mines and equipment manufacturing”. Moreover

the Company speeded up the construction and upgrading of smart factories

improved the master framework for digital transformation advanced key digital

projects and drove transformation across the whole business process with

digital technologies.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 7Chairman’s Statement

董事長報告書

(IV) The Automotive Parts Sector Secured a Solid （四） 汽車零部件板塊穩固發展根基，新Foundation for Further Development and the 能源轉型成果斐然

Transition to New Energy has seen remarkable

results

ASIMCO further defined its growth-oriented strategy to drive growth in both 亞新科進一步明晰增長型戰略，推動國內外市場增長，domestic and international markets achieving rapid growth in revenue as a 營業收入增長迅速。通過規模優勢、效率提升、採購降result. Leveraging competitiveness arising from economies of scale efficiency 本，打造成本領先優勢，減振、密封、粉末冶金製品improvements and procurement cost reduction measures it established leading 等乘用車零部件，活塞環、凸輪軸、缸體缸蓋等商用advantages in terms of costs. Its market share in passenger vehicle parts 車零部件市場份額持續提升，穩固發展根基；聚集內部such as vibration absorbers seals and powder metallurgy products as well 資源，聚焦核心客戶，對外出口業務增長，擴張海外市as commercial vehicle parts such as piston rings camshafts and cylinder 場；通過提升研發實力，打造技術領先優勢，空氣懸架blocks and heads increased steadily thereby strengthening its foundation 部件、熱管理系統冷板、底盤副車架部件等新業務拓展

for further development. By capitalizing on internal resources and focusing 順利，報告期內量產爬坡；開展減震密封、熱管理等新on core customers it increased its export business through expanding its 產能布局建設，實施工廠數字化、自動化升級，提升核overseas market. On the other hand by strengthening its capabilities in 心競爭力。

research and development technological advantages were accumulated. New

businesses like air suspension components thermal management system

cold plates and chassis subframe components also expanded smoothly as a

result mass production ramped up during the reporting period; developed new

production capacity in vibration absorbers seals and thermal management and

implemented digital and automated factory upgrades to strengthen its core

competitiveness.SES focused on profitability and business growth resulting in remarkable 索恩格聚焦盈利、聚焦增長，通過變革組織架構、採operating results in the first half of the year through organizational restructuring 取成本削減措施、優化供應商管理，上半年經營表現cost-cutting measures and optimized management of suppliers. In Europe 良好。歐洲地區索恩格自研48V BRM電機不斷獲取新訂SES’s self-developed 48V BRM motor continues to secure new orders in 單，在印度推動輕型電動車高壓電機產品量產，北美地India it is promoting mass production of high-voltage motors for light electric 區12V起發電機業務保持快速增長勢頭；拓展歐洲新能

vehicles and in North America its 12V starter-generator business maintains 源驅動電機業務，獲取第一個歐洲高壓驅動電機項目定rapid growth; SES also expanded its European new energy drive motor business 點，以此為基礎，未來有望獲取更多歐洲高壓項目；擴and secured its first high-voltage drive motor project in Europe in the hope 大售後項目的產品組合，印度、巴西售後業務增長顯of building on this success to secure more high-voltage projects in Europe in 著。

the future. Besides it enriched its product mix of the aftermarket sector thus

seeing significant growth in its aftermarket business in India and Brazil.

8 ZMJ Group Company Limited INTERIM REPORT 2025Chairman’s Statement

董事長報告書

SES partnered with leading and emerging players to ramp up mass production SES攜手頭部新勢力，新能源驅動電機定轉子項目量產of its new energy drive motor stator and rotor projects assisting customers to 爬坡，助力客戶引領智能電動化時代；利用在手項目標lead the era of intelligent electrification; leveraged the benchmarking effect of its 杆效應，加大力度研發創新技術和加工工藝，在下一代existing projects it has intensified efforts in developing innovative technologies 新產品上保持領先地位；做好在手項目的產能建設，確and processing techniques to maintain its leading position in the next generation 保高質量交付；持續優化成本，提高項目盈利能力。圍of new products. It also strengthened the capacity development for existing 繞戰略客戶需求，探索驅制轉懸相關的智駕業務新機projects to ensure high-quality delivery and continuously optimized its cost 會，完成驅制轉懸智能底盤各子系統技術發展路線規structure to enhance project profitability. Focusing on the needs of strategic 劃，以電機為基礎，為客戶提供「電機+」多種產品，滿customers SES explored new business opportunities in the intelligent driving 足客戶在電動與智能領域需求。以新工廠新產線建設為business related to drive braking steering and suspension and completed 契機，堅定「智能製造+數字化運營」雙線提效，通過數the technology development roadmap for various subsystems of its intelligent 字化管理優化流程，降本提效，提升產品競爭力。

chassis consisting of the above four aspects. Based on its motor products SES

offered customers a variety of “motor +” products to meet their needs in the

electric and intelligent sectors. By capitalizing on the business opportunities

arising from the construction of new factories and production lines SES hasbeen committed to improving its efficiency through “intelligent manufacturing+ digital operations” and optimizing processes through digital management

for the purpose of reducing costs increasing efficiency and enhancing

competitiveness of its products.(V) Implementing multiple measures the Company （五） 多措並舉，持續推進工業智能板塊Continued to Facilitate the Development of 的培育發展

Industrial Intelligence Sector

Capitalizing on the experience accumulated from our “Lighthouse Factory” 公司以「燈塔工廠」經驗為引領，推進「人工智能+製造」initiatives the Company advanced the application of “artificial intelligence + 應用，將數字技術與製造優勢相結合，培育發展工業智manufacturing” integrated digital technologies with manufacturing advantages 能板塊。公司投資3億元參股瀚博半導體，以人工智能for the further development of the industrial intelligence sector. The Company 技術在智慧礦山、數字化工廠一體機、智能物流及智能

invested RMB300 million for equity participation in Vastai Technologies 裝備等方面深度賦能公司工業智能業務發展。

leveraging artificial intelligence technology to deeply empower the development

of our industrial intelligence business in areas such as smart mines integrated

digital factory systems smart logistics and smart equipment.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 9Chairman’s Statement

董事長報告書

Internally the Company facilitated intelligent manufacturing upgrades. 對內推進智造升級，以內部新工廠新產線建設為契機，Leveraging the construction of new factories and production lines the 培育工業智能化人才團隊，自主完成鄭煤機示範工廠二Company trained up a team of talented industrial intelligence professionals to 期規劃及一期改造升級方案，汽車零部件工廠規劃建設complete the second phase planning and first phase renovation and upgrade 更多使用公司自主設計的智能製造解決方案；對外通過

plan for the Zhengzhou Coal Mining Machinery Demonstration Factory (鄭煤 燈塔工廠示範引領，加強市場開拓，構建核心生態，上機示範工廠) independently. The planning and construction of auto parts 半年獲取了船舶、鋼構、通用機械等行業工廠規劃諮詢

factories are increasingly utilizing the Company’s indigenously designed 仿真和數字化系統訂單，汽車零部件行業智能工廠物流intelligent manufacturing solutions. Externally the Company strengthened 與倉儲、自動化產線、輕量化智能工廠等訂單，智能market development and built a core ecosystem through our Lighthouse AGV等智能搬運機器人訂單，持續推動行業突破與業績Factory demonstration program. During the first half of the year the Company 提升。

secured orders for factory planning consulting simulation and digital systems

in industries like shipbuilding steel structures and general machinery orders

for intelligent factory logistics and warehousing automated production lines

and lightweight intelligent factories in the automotive parts industry as well as

orders for intelligent handling robots such as intelligent AGV. All these measures

continued to drive industry breakthroughs and performance improvements.In the second half of 2025 the complicated and volatile macroeconomic 2025年下半年，宏觀經濟環境複雜多變、市場競爭日趨landscape the intensified market competition and the rapid innovation in 激烈、技術革新日新月異，既帶來了轉型發展的機遇，technologies will present opportunities for transformation and further business 也提出了更為嚴峻的考驗。公司將聚焦戰略目標，堅持development on one hand and more severe challenges on the other hand. The 以科技創新為引領，持續強化創新驅動，加快數字化轉Company will focus on strategic targets adhere to the direction of technological 型和全球化布局，發展高端製造、智能製造，培育發展innovation strengthen innovation-driven development continuously accelerate 新質生產力，以永不懈怠的奮鬥姿態，為實現公司戰略digital transformation and global presence develop high-end manufacturing 規劃目標、為成為全球領先並可持續發展的智能工業解

business and intelligent manufacturing and cultivate and develop new-quality 決方案提供商而努力奮鬥！

productivity. The Company will strive to uphold its unremitting attitude to achieve

the targets of the Company’s strategic planning and become a global leading

and sustainable provider of intelligent industrial solutions!

Last but not least on behalf of the Board of Directors I would like to express 最後，本人謹代表董事會對全體股東、廣大客戶、社會my heartfelt gratitude to all shareholders customers all sectors of society and 各界及友好人士給予的信任和支持表示衷心的感謝！

friends for their trust and support!

ZMJ Group Company Limited 中創智領（鄭州）工業技術集團股份有限公司

Chairman 董事長

Jiao Chengyao 焦承堯

28 August 2025 2025年8月28日

10 ZMJ Group Company Limited INTERIM REPORT 2025Management Discussion and Analysis

管理層討論與分析

Review of the period 期間回顧

For the six months ended 30 June 2025 the Group achieved sales revenue 截至2025年6月30日止六個月，本集團實現銷售收入人of RMB19981.54 million representing an increase of 5.42% from the 民幣19981.54百萬元，較上年度同期上升5.42%。本公corresponding period of last year. Profit Attributable to Owners of the Company 司股東應佔溢利為人民幣2527.45百萬元，較上年度同was RMB2527.45 million representing an increase of 16.22% from the 期上升16.22%。每股盈利為人民幣1.43元。於2025年6月corresponding period of last year. Earnings per share was RMB1.43. As at 30 30日，本集團借貸餘額為人民幣5617.32百萬元。

June 2025 the Group had borrowing balances of RMB5617.32 million.Overview 概覽

The Group is a leading comprehensive coal mining and excavating equipment 作為中國領先的煤炭綜採綜掘設備及汽車零部件製造

and auto parts manufacturer in the PRC. Our established operating history 商，本集團悠久的經營歷史、優質產品、強勁的研發能high quality products strong research and development capabilities advanced 力、先進的製造流程及龐大的銷售及服務網絡乃是我們

manufacturing processes and extensive sales and service network are the keys 達到成功的關鍵，並使我們能夠維持在中國煤炭採掘設to our success and allow us to maintain our leading position in the PRC coal 備市場的領導地位。在完成對亞新科和索恩格汽車德國mining and excavating equipment market. With the completion of ASIMCO and 有限公司的收購後，本集團已進入汽車零部件市場，形SEG Automotive Germany GmbH acquisition the Group has duly entered the 成煤礦機械及汽車零部件兩大主業。

auto parts market and is engaged in two principal businesses namely coal

mining machinery and auto parts.Results of Operations 經營業績

The following table sets forth a summary for the six months ended 30 June 下表載列本集團於所示截至2025年及2024年6月30日止

2025 and 2024 indicated of our consolidated results of operations. 六個月的綜合經營業績摘要。

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB millions RMB millions人民幣百萬元人民幣百萬元

Revenue 收入 19981.54 18953.47

Cost of sales 銷售成本 (15327.51) (14429.35)

Gross profit 毛利 4654.03 4524.12

Other income 其他收入 239.70 386.90

Other gains and losses 其他收益及虧損 304.69 45.43

Selling and distribution expenses 銷售及分銷開支 (420.36) (472.19)

Administrative expenses 行政開支 (622.65) (565.26)

Research and development expenses 研發費用 (813.48) (833.93)

Impairment losses under expected credit loss model 預期信貸虧損模式下的減值虧損，net of reversal 扣除撥回 (196.17) (147.21)

Share of profit of associates 應佔聯營公司溢利 17.89 31.00

Share of profit of joint ventures 應佔合營企業溢利 1.30 4.57

Finance costs 融資成本 (126.91) (136.82)

Profit before tax 除稅前溢利 3038.04 2836.61

Income tax expense 所得稅開支 (456.80) (485.76)

Profit for the period 期內溢利 2581.24 2350.85

Profit for the period attributable to: 以下人士應佔期內溢利：

Owners of the Company 本公司股東 2527.45 2174.80

Non-controlling interests 非控股權益 53.79 176.05

2581.242350.85

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 11Management Discussion and Analysis

管理層討論與分析

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB millions RMB millions人民幣百萬元人民幣百萬元

Other comprehensive (expense) income: 其他全面（開支）收入：

Items that will not be reclassified subsequently to 不會於其後重新分類至損益的項目：

profit or loss:

Remeasurement of post-employment benefit obligations 重新計量退休福利責任 – –

Items that may be reclassified subsequently to 可能於其後重新分類至損益的項目：

profit or loss:

Exchange differences arising on translation of 換算海外業務產生的匯兌差額

foreign operations 151.62 (84.83)

Fair value (loss) gain on hedging instruments 指定作現金流對沖的對沖工具的

designated as cash flow hedging 公平值（虧損）收益 6.15 (6.08)

Other comprehensive (expense) income for the period 期內其他全面（開支）收益，net of income tax 扣除所得稅 157.77 (90.91)

Total comprehensive income for the period 期內全面收益總額 2739.01 2259.94

Total comprehensive income for the period 以下人士應佔期內全面收益總額：

attributable to:

Owners of the Company 本公司股東 2685.23 2086.60

Non-controlling interests 非控股權益 53.78 173.34

2739.012259.94

EARNINGS PER SHARE 每股盈利

– Basic (RMB) －基本（人民幣） 1.43 1.23

– Diluted (RMB) －攤薄（人民幣） 1.43 1.22

Revenue 收入

Our revenue increased by 5.42% from RMB18953.47 million for the six months 本集團收入由截至2024年6月30日止六個月的人民幣

ended 30 June 2024 to RMB19981.54 million for the six months ended 30 18953.47百萬元增加5.42%至截至2025年6月30日止六個

June 2025 mainly because of the 7.47% increase of auto parts segment as 月的人民幣19981.54百萬元，主要是由於本集團增長策compared to that of the last period due to the Group’s growth strategy and the 略及2025年上半年汽車零部件市埸需求有所增加，使汽increase in demand of auto parts market in the first half of 2025. 車零部件分部較上一個期間增長7.47%。

12 ZMJ Group Company Limited INTERIM REPORT 2025Management Discussion and Analysis

管理層討論與分析

Cost of Sales 銷售成本

Our cost of sales increased by 6.22% from RMB14429.35 million for the six 本集團銷售成本由截至2024年6月30日止六個月的人民

months ended 30 June 2024 to RMB15327.51 million for the six months 幣14429.35百萬元增加6.22%至截至2025年6月30日止六

ended 30 June 2025 because of sales increase during this period. 個月的人民幣15327.51百萬元，原因為期內銷售額上升。

Gross Profit 毛利

Driven by the above factors our gross profit increased by 2.87% from 受上述因素推動，本集團毛利由截至2024年6月30日止RMB4524.12 million for the six months ended 30 June 2024 to RMB4654.03 六個月的人民幣4524.12百萬元增加2.87%至截至2025年million for the six months ended 30 June 2025 mainly due to the growth of 6月30日止六個月的人民幣4654.03百萬元，主要是因為revenue during the period. 期內銷售收入的增長。

The overall gross profit margin of the Group stayed flat with slightly decrease 本集團的整體毛利率基本穩定，由截至2024年6月30日from 23.87% for the six months ended 30 June 2024 to 23.29% for the six 止六個月的23.87%減少至截至2025年6月30日止六個月

months ended 30 June 2025. 的23.29%。

Staff Costs and Remuneration Policy 員工成本及薪酬政策

At 30 June 2025 the Group had approximately 16691 employees. Our staff 於2025年6月30日，本集團約有16691名員工。本集團員costs decreased by 3.37% from RMB1867.49 million for six months ended 30 工成本由截至2024年6月30日止六個月的人民幣1867.49

June 2024 to RMB1970.58 million for six months ended 30 June 2025. The 百萬元減少3.37%至截至2025年6月30日止六個月的人民

staff remuneration of the Group comprises of basic salary and bonus payment 幣1970.58百萬元。本集團員工薪酬由基本工資和獎勵which is determined with reference to the operating results of the Group and 工資兩部分組成，獎勵工資依據本集團經營業績及僱員results of performance assessment on the employees. The Group adheres to the 績效考核情況確定。本集團堅持以效益和業績為導向，orientation towards efficiency and results as well as the focus on top-tier staff. It 堅持向一線員工傾斜，努力確保收入分配科學合理。

also strives to ensure scientific and reasonable allocation of income.In order to attract retain and enrich employees’ knowledge and develop their 為吸引、挽留員工並豐富其知識及提高其技能水平，本skills the Group paid more attention to employee training providing employees 集團極其注重員工培訓，為員工提供不同類別的培訓和with different types of training and development programs. 發展計劃。

Profit Before Tax 除稅前溢利

Being affected by the factors referred to above in aggregate our profit before 受前述因素的綜合影響，本集團的除稅前溢利由截至tax increased by 7.10% from RMB2836.61 million for the six months ended 30 2024年6月30日止六個月的人民幣2836.61百萬元上升

June 2024 to RMB3038.04 million for the six months ended 30 June 2025. 7.10%至截至2025年6月30日止六個月的人民幣3038.04百萬元。

Income Tax Expense 所得稅開支

Our income tax expense decreased by 5.96% from RMB485.76 million for the 本集團所得稅開支由截至2024年6月30日止六個月的人

six months ended 30 June 2024 to RMB456.8 million for the six months ended 民幣485.76百萬元減少5.96%至截至2025年6月30日止六

30 June 2025 primarily because of the decrease in taxable income. 個月的人民幣456.8百萬元，主要是由於應課稅收入顯著減少。

Profit for the period 期內溢利

In viewed of the combined effect of the above factors our profit for the period 受前述因素的綜合影響，本集團的期內溢利及全面收and the aggregate of comprehensive income increased by 9.80% from 益總額由截至2024年6月30日止年度的人民幣2350.85百

RMB2350.85 million for the year ended 30 June 2024 to RMB2581.24 million 萬元上升9.80%至截至2025年6月30日止年度的人民幣

for the year ended 30 June 2025. 2581.24百萬元。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 13Management Discussion and Analysis

管理層討論與分析

Cash Flows and Capital Expenditures 現金流及資本支出

As of 30 June 2025 the Group had RMB2804.16 million in cash and cash 於2025年6月30日，本集團擁有現金及現金等價物人民equivalents. The Group’s cash and cash equivalents primarily consist of cash 幣2804.16百萬元。本集團現金及現金等價物主要包括and bank deposits. 現金及銀行存款。

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB millions RMB millions人民幣百萬元人民幣百萬元

Net cash generated from operating activities 經營活動所得現金淨額 1451.66 1328.27

Net cash used in investing activities 投資活動所用現金淨額 (311.52) (772.78)

Net cash used in financing activities 融資活動所用現金淨額 (1338.72) (1289.62)

Net decrease in cash and cash equivalents 現金及現金等價物減少淨額 (198.58) (734.13)

Effect of foreign exchange rate changes 匯率變動的影響 15.15 (18.60)

Cash and cash equivalents at 1 January 於1月1日的現金及現金等價物 2987.59 4729.23

Cash and cash equivalents at 30 June 於6月30日的現金及現金等價物 2804.16 3976.50

Operating Activities 經營活動

Net cash inflow in operating activities for the six months ended 30 June 2025 截至2025年6月30日止六個月，經營活動現金流入淨額was RMB1451.66 million. Cash inflow primarily comprised profit before 為人民幣1451.66百萬元。現金流入主要包括除稅前溢taxation of RMB3038.04 million primary adjusted for: (i) decrease in trade 利人民幣3038.04百萬元，主要調整了：(i)貿易及其他應and other receivables of RMB2131.73 million; (iii) decrease in inventories 收款項減少人民幣2131.73百萬元；(ii)存貨減少人民幣

of RMB1624.34 million; (iii) decrease in contract liabilities of RMB1039.52 1624.34百萬元；(iii)合同負債減少人民幣1039.52百萬元。

million.Investing Activities 投資活動

Net cash outflow from investing activities for the six months ended 30 June 截至2025年6月30日止六個月，投資活動現金流出淨額

2025 was RMB311.52 million primarily comprised of: (i) proceeds from other 為人民幣311.52百萬元，主要包括：(i)其他金融資產、financial assets certificate of deposits and structured deposits of RMB4177.17 存單及結構性存款所得款項人民幣4177.17百萬元；(ii)

million; (ii) withdrawal of pledged bank deposits with original maturity over 提取原到期日為三個月以上的已抵押銀行存款及限制

three months and restricted cash of RMB760.79 million; (iii) withdrawal of 性現金人民幣760.79百萬元；(iii)提取已抵押銀行存款人

pledged bank deposits of RMB950.35 million; (iv) placement for other financial 民幣950.35百萬元；(iv)存放其他金融資產、存單及結構

assets certificate of deposits and structured deposits of RMB4312.30 million; 性存款人民幣4312.30百萬元；(v)存放原到期日為三個

(v) placement of bank deposits with original maturity over three months of 月以上的銀行存款人民幣304.38百萬元；(vi)存放已抵押

RMB304.38 million; (vi) placement of pledged bank deposits of RMB739.65 銀行存款人民幣739.65百萬元；(vii)購置物業、廠房及設

million; (vii) purchases of property plant and equipment of RMB607.46 million 備人民幣607.46百萬元及(viii)存放衍生金融工具人民幣

and (viii) Placement of derivative financial instruments of RMB21.55 million. 21.55百萬元。

14 ZMJ Group Company Limited INTERIM REPORT 2025Management Discussion and Analysis

管理層討論與分析

Financing Activities 融資活動

Net cash outflow in financing activities for the six months ended 30 June 截至2025年6月30日止六個月，融資活動現金流出淨額

2025 was RMB1338.72 million primarily consisting of (i) net cash inflow 為人民幣1338.72百萬元，主要包括：(i)借貸的現金流入

from borrowing of RMB2444.07 million; (ii) cash outflow from the repayment 淨額人民幣2444.07百萬元；及(ii)償還借貸的現金流出

of borrowings in the amount of RMB3018.66 million; (iii) cash outflow from 人民幣3018.66百萬元；(iii)已付利息的現金流出人民幣

interests paid of RMB130.10 million. 130.10百萬元。

Capital Expenditures 資本支出

We incurred capital expenditures of RMB744.66 million for the year ended 30 截至2025年6月30日止年度，本集團用於購置物業、廠June 2025 for purchase of property plant and equipment and intangible assets. 房及設備以及無形資產的資本支出為人民幣744.66百萬元。

Commitments and Contingent Liabilities 承擔及或然負債

Capital Commitments 資本承擔

As of 30 June 2025 our commitments consisted of capital commitments for 截至2025年6月30日，本集團的承擔為收購物業、廠房the acquisition of property plant and equipment that have been authorized and 及設備的已授權且已訂約的資本承擔人民幣596.33百萬

contracted for in the amount of RMB596.33 million. 元。

Contingent Liabilities 或然負債

During the interim period the Group has endorsed or discounted and then 於中期期間，本集團已對若干應收票據進行背書或貼derecognized certain notes receivable with full recourse. In the opinion of the 現，繼而終止確認該等附有完全追索權的應收票據。本directors of the Company the risk of the default in payment of the endorsed or 公司董事認為，由於所有背書及貼現的應收票據由聲譽discounted notes receivable is low because all endorsed or discounted notes 良好的中國銀行發出及提供擔保，故欠付背書及貼現的receivable are issued and guaranteed by reputable PRC banks. The maximum 應收票據的風險為低。於各報告期末，本集團可能因欠exposure to the Group that may result from the default of these endorsed or 付該等背書或貼現及終止確認的應收票據而須承擔的最

discounted and derecognized notes receivable at the end of each reporting 大風險如下：

period is as follows:

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB millions RMB millions人民幣百萬元人民幣百萬元

Outstanding endorsed or discounted notes receivable 具追索權的尚未償還已背書或

with recourse 已貼現應收票據 2507.40 2820.45

As at 30 June 2025 the Group has derecognised certain trade receivables 於2025年6月30日，本集團已終止確認已劃轉至銀行的without recourse which were transferred to banks with amounting to 若干無追索權貿易應收款項人民幣182292000元（2024RMB182292000 (31 December 2024: RMB42337000). 年12月31日：人民幣42337000元）。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 15Management Discussion and Analysis

管理層討論與分析

Working Capital and Indebtedness 營運資金及負債

The following table sets forth details of our current assets and liabilities as of 30 下表載列截至2025年6月30日本集團流動資產及負債詳

June 2025 (in RMB millions): 情（單位：人民幣百萬元）：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB millions RMB millions人民幣百萬元人民幣百萬元

CURRENT ASSETS 流動資產

Finance lease receivables current portion 融資租賃應收款項，流動部分 41.35 20.66Long-term receivables current portion 長期應收款項，流動部分 230.29 248.24Inventories 存貨 8064.61 9453.77

Trade and other receivables 貿易及其他應收款項 14247.36 11920.55

Transferred trade receivables 已劃轉的貿易應收款項 478.25 431.85

Financial assets at fair value through profit or loss 以公平值計量且其變動計入損益的金融資產 6231.86 5821.56

Financial assets at FVTOCI 以公平值計量且其變動計入其他全面收益的

金融資產1978.942502.85

Derivative financial instruments 衍生金融工具 40.74 36.39

Tax recoverable 可收回稅項 46.24 38.66

Assets classified as held for sale 分類為持作出售的資產 91.07 91.07

Bank deposits 銀行存款 1646.72 1934.56

Cash and cash equivalents 現金及現金等價物 2804.16 2987.59

35901.5935487.75

CURRENT LIABILITIES 流動負債

Trade and other payables 貿易及其他應付款項 16197.24 13932.21

Contract liabilities 合同負債 2064.20 3070.93

Income tax liabilities 所得稅負債 218.62 396.72

Borrowings 借貸 3502.35 3404.23

Lease liabilities 租賃負債 188.34 144.70

Provisions 撥備 283.11 273.03

Liabilities associated with transferred trade receivables 與已劃轉的貿易應收款項有關的負債 492.20 445.80

Derivative financial instruments 衍生金融工具 56.56 84.56

23002.6221752.18

NET CURRENT ASSETS 流動資產淨值 12898.97 13735.57

As of 30 June 2025 the Group had net current assets of approximately 於2025年6月30日，本集團流動資產淨值約為人民幣RMB12898.97 million (31 December 2024: RMB13735.58 million) and 12898.97百萬元（2024年12月31日：人民幣13735.58百current ratio of 1.56 (31 December 2024: 1.63). The decrease in current ratio 萬元），而流動比率為1.5（6 2024年12月31日：1.63）。流was primarily due to the increase in trade and other payables for the period. 動比率下降主要由於期內貿易及其他應付款項增加所致。

As of 30 June 2025 the balance of the Group’s outstanding borrowings was 於2025年6月30日，本集團未償還借貸餘額為人民幣RMB5617.32 million of which RMB3502.35 million is current portion (31 5617.32百萬元，其中流動部分為人民幣3502.35百萬December 2024: outstanding borrowings was RMB6035.65 million of which 元（2024年12月31日：未償還借貸為人民幣6035.65百萬RMB3404.23 million was current portion). 元，其中流動部分為人民幣3404.23百萬元）。

16 ZMJ Group Company Limited INTERIM REPORT 2025Management Discussion and Analysis

管理層討論與分析

Capital Adequacy Ratio 資本充足比率

Gearing ratio is calculated by dividing the total liabilities netting off cash and 負債與權益比率乃按期╱年末負債總額減現金及現金等

cash equivalent at the end of the period/year by total equity at the end of the 價物除以期╱年末權益總額，再乘100%計算。

period/year and multiplying by 100%.As of 30 June 2025 our gearing ratio was 107% (31 December 2024: 102%). 於2025年6月30日，本集團負債與權益比率為107%（2024年12月31日：102%）。

Credit Risk 信貸風險

Credit risk arises from trade and other receivables finance lease receivables 信貸風險來自貿易及其他應收款項、融資租賃應收款

long-term receivables structured deposits derivative assets loans receivable 項、長期應收款項、結構性存款、衍生資產、應收聯營

from associates and a joint venture pledged bank deposit cash and cash 公司及一間合營企業貸款、已抵押銀行存款、現金及現

equivalents. 金等價物。

To manage the risk with respect to pledged bank deposit cash and cash 為管理與已抵押銀行存款、現金及現金等價物、結構性

equivalents structured deposits and derivative assets the Group placed them in 存款及衍生資產相關的風險，本集團將該等資產存置於or entered into the contract with the banks with high reputation. 聲譽良好的銀行或與該等銀行訂立合同。

The Group has policies in place to ensure that sales are made to reputable and 本集團已制定政策確保向聲譽及信譽良好、具備適當財

creditworthy customers with an appropriate financial strength credit history 政實力及信貸記錄並提供合適比例訂金的客戶進行銷

and an appropriate percentage of down payments. It also has other monitoring 售。本集團亦制定其他監控程序，確保採取跟進措施收procedures to ensure that follow-up action is taken to recover overdue debts. 回逾期債務。

In addition the Group reviews regularly the authorisation of credit limits 此外，本集團定期審閱授予個別客戶的信貸額度及各個to individual customers and recoverable amount of each individual trade 別貿易應收款項的可收回金額，以確保就無法收回款項receivables to ensure that adequate impairment losses are made for 計提足夠減值虧損。本集團通常給予客戶30天至180天irrecoverable amounts. The Group normally grants a credit period of 30 days to 的信貸期，自收入確認日期起生效。

180 days to customers effective from the revenue recognition date.

During the interim period the Group has endorsed and derecognised certain 於本期間，本集團已背書及終止確認若干應收票據，以notes receivable for the settlement of trade and other payables with full 結算具全面追索權的貿易及其他應付款項。本公司董事recourse. In the opinion of the Directors of the Company the risk of the default 認為，由於所有已背書應收票據由聲譽良好的中國銀行in payment of the endorsed notes receivable is low because all endorsed notes 發出及提供擔保，故欠付已背書應收票據的風險不大。

receivable are issued and guaranteed by reputable PRC banks.The Group considers the probability of default upon initial recognition of asset 本集團考慮於初步確認資產時的違約可能性及於各報告

and whether there has been a significant increase in credit risk on an ongoing 期間的信貸風險會否持續顯著增加。為評估信貸風險有basis throughout each reporting period. To assess whether there is a significant 否顯著增加，本集團將資產於報告日期的違約風險與於increase in credit risk the Group compares the risk of default occurring on the 首次確認日期的違約風險進行比較。預期信貸虧損率基asset as at the reporting date with the risk of default as at the date of initial 於過往1至3年的過往信貸虧損情況釐定，並作出調整以recognition. The expected credit loss rates are determined based on historical 反映影響客戶結清應收款項能力的宏觀經濟因素等當前

credit losses experienced from the past 1 to 3 years and are adjusted to reflect 及前瞻性資料。本集團亦考慮可獲得的合理有據前瞻性current and forward-looking information such as macroeconomic factors 資料。

affecting the ability of the customers to settle the receivables. The Group also

considers available reasonable and supportive forwarding-looking information.As at 30 June 2025 the balance of bank borrowings tota l ing to 於 2025年 6月 30日，銀行借貸結餘合共人民幣RMB139518000 were secured by the pledge of the land use rights amounting 139518000元由為數人民幣57743000元的土地使用權

to RMB57743000. 質押作抵押。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 17Management Discussion and Analysis

管理層討論與分析

Interest Rate Risk 利率風險

The Group is exposed to cash flow interest rate risk in relation to variable-rate 本集團就浮息借貸承受現金流量利率風險。目前，本集borrowings. Currently the Group does not have a specific policy to manage its 團並無特定政策管理其利率風險，惟管理層將密切留意interest rate risk but management will closely monitor interest rate exposures 利率風險，並在有需要時考慮對沖重大利率風險。

and consider hedging significant interest rate risk should the need arise.Currency Risk 貨幣風險

The Group operates internationally and is exposed to foreign exchange risk 本集團從事國際性業務，並承受多種非功能貨幣產生的arising from various non-functional currencies. Foreign exchange risk arises 外匯風險。外匯風險自日後商業交易、已確認資產及負from future commercial transactions recognised assets and liabilities. 債產生。

The actual foreign exchange risk faced by the Group therefore is primarily with 因此，本集團面對的實際外匯風險主要與非功能貨幣的respect to non-functional currency bank balances receivables borrowings and 銀行結餘、應收款項及借款及應付款項（統稱「非功能貨payables (collectively “Non-Functional Currency Items”). 幣項目」）有關。

Management monitors foreign exchange exposure and will consider hedging 管理層監控外匯風險，並將於需要時考慮使用外匯遠期certain foreign currency exposure by using foreign exchange forward contracts 合同對沖若干外幣風險。

when the need arises.The Group is mainly exposed to the foreign currency risk between United States 本集團主要承擔美元兌人民幣、歐元兌人民幣的外匯風

dollars (“USD”)/RMB Euro (“EUR”)/RMB. 險。

18 ZMJ Group Company Limited INTERIM REPORT 2025Directors Supervisors and Chief Executives

董事、監事及最高行政人員

Change in information of Directors Supervisors and 董事、監事及最高行政人員資料變化

Chief Executives

Changes of Directors 董事變更

As stated in the Company’s announcement dated 9 January 2025 the Board 誠如本公司日期為2025年1月9日的公告所述，本公司董of Directors of the Company received resignation letters from Mr. FU Zugang 事會於2025年1月9日收到本公司前任執行董事付祖岡先

a former executive director of the Company and Mr. YUE Taiyu a former non- 生及前任非執行董事岳泰宇先生提交的辭職報告。付祖executive director of the Company on 9 January 2025. Mr. FU Zugang has 岡先生因工作調整原因，申請辭去本公司第六屆董事會applied to resign from his position as an executive director of the sixth session 執行董事職務及董事會戰略與可持續發展委員會委員職

of the board of directors of the Company and as a member of the Strategic 務，辭任後將繼續擔任其在本公司的其他職務。岳泰宇and Sustainable Development Committee of the board of directors due to 先生因擬專注於其他工作事務，申請辭去本公司第六屆work adjustments. Following his resignation he will continue to hold his other 董事會非執行董事職務及董事會戰略與可持續發展委員

positions within the Company. Mr. YUE Taiyu has applied to resign from his 會委員職務，辭任後不在本公司擔任任何職務。付祖岡position as a non-executive director of the sixth session of the board of directors 先生及岳泰宇先生的辭任於2025年1月9日起生效。

of the Company and as a member of the Strategic and Sustainable Development

Committee due to his intention to focus on other work-related matters. Following

his resignation he will no longer hold any position within the Company. The

resignation of Mr. FU Zugang and Mr. YUE Taiyu took effect on 9 January 2025.Abolition of the Board of Supervisors and Retirement of 取消監事會、監事退任

Supervisors

As stated in the Company’s announcement dated 28 April 2025 in accordance 誠如本公司日期為2025年4月28日的公告所述，根據據with the provisions of the Company Law of the People’s Republic of China (the 《中華人民共和國公司法》（「《公司法》」）、中國證監會發“Company Law”) the Transitional Arrangement Relating to the Implementation 佈的《關於新配套制度規則實施相關過渡期安排》（「《過of the Supporting System and Rules of the New Company Law issued by 渡期安排》」）以及《上市公司章程指引》（「《章程指引》」）

the China Securities Regulatory Commission (“CSRC”) (“Transitional 等相關法律法規、規範性文件的規定，為進一步完善公Arrangement”) and the Guidelines on the Articles of Association of Listed 司治理結構，提升公司規範運作和科學決策水平，本公Companies (“Guidelines on the Articles of Association”) and other relevant laws 司決定不再設置監事會，將監事會的職權由董事會審計regulations and regulatory documents in order to further improve the corporate 與風險管理委員會行使。有關取消監事會並修訂《公司governance structure and enhance the standardized operation and scientific 章程》的事項於2025年6月17日舉行之2025年第二次臨時

decision-making level of the Company the Company has decided to abolish the 股東大會獲正式批准。於2025年6月17日起，本公司不Board of Supervisors and transfer the powers of the Board of Supervisors to the 再設置監事會，原任監事劉強先生、程翔東先生、祝願Audit and Risk Management Committee of the Board of Directors. The matters 女士正式退任。

in relation to the abolition of the Board of Supervisors and the amendment to the

Articles of Association were formally approved at the 2025 Second Extraordinary

General Meeting held on 17 June 2025. Since 17 June 2025 the Company will

no longer establish a Board of Supervisors and the former supervisors Mr. LIU

Qiang Mr. CHENG Xiangdong and Ms. ZHU Yuan have officially retired.Except as disclosed above as of the date of this report there have been no 除上文所披露外，截至本報告披露日，本公司概無董changes in the information regarding the Company’s directors supervisors or 事、監事、最高行政人員資料變化。

senior management personnel.Model Code for Securities Transactions by Directors 董事、監事進行證券交易的標準守則

and SupervisorsThe Company has adopted the Model Code for Securities Transactions by 本公司已採納聯交所上市規則附錄C3所載《上市發行人Directors of Listed Issuers (the “Model Code”) set out in Appendix C3 to the 董事進行證券交易的標準守則》（「標準守則」），作為公Listing Rules of the Stock Exchange as its code of conduct regarding securities 司有關董事、監事證券交易的行為守則。本公司已向全transactions by the Directors and the Supervisors. The Company has made 體董事和監事作出具體查詢，在任的董事及監事在其各specific enquiries with all the Directors and Supervisors who held such offices 自任職期間均已確認彼等一直遵守標準守則。

during the Reporting Period have confirmed their compliance with the Model

Code.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 19Directors Supervisors and Chief Executives

董事、監事及最高行政人員

Directors’ and Chief Executives’ Interests and Short 董事及最高行政人員於本公司及其相聯

Positions in Securities of the Company and its 法團的證券中之權益及淡倉*

Associated Corporations*

To the knowledge of the Directors as at 30 June 2025 the Directors and chief 據董事所知，於2025年6月30日，本公司各董事及本公executives of the Company had interests and short positions in the shares 司最高行政人員於本公司或其任何相聯法團（定義見香underlying shares and debentures of the Company or any of its associated 港《證券及期貨條例》（「《證券及期貨條例》」）的股份、相

corporations (as defined in the “Securities and Futures Ordinance” (the “SFO”) 關股份及債券中擁有任何根據《證券及期貨條例》第XV部of Hong Kong) which were required to be notified to the Company and the Stock 第7及第8分部須知會本公司及聯交所的權益及淡倉（包Exchange pursuant to the provisions of Divisions 7 and 8 of Part XV of the 括彼根據《證券及期貨條例》的有關條文而被當作或視作SFO (including interests and short positions which they were taken or deemed 擁有的權益及淡倉），或根據《證券及期貨條例》第352條to have under relevant provisions of the SFO); or were required pursuant 須載入該條例所述的登記冊的權益及淡倉（包括彼根據to Section 352 of the SFO to be recorded in the register referred to therein 《證券及期貨條例》的有關條文而被當作或視作擁有的權(including interests and short positions which they were taken or deemed to 益及淡倉），或根據上市規則內標準守則須知會本公司have under relevant provisions of the SFO); or were required to be notified to the 及聯交所的權益及淡倉如下：

Company and the Stock Exchange pursuant to the Model Code under the Listing

Rules which are stated as follows:

Approximate Approximate

percentage of percentage of

the relevant the total Long position/

Director/ Capacity/ Class of Number of class of number of Short position/

Name Chief executive Nature of interest shares shares capital % shares % Lending pool

佔有關股本佔股份好倉╱淡倉╱類別的概約總數的概約可供借出的

姓名董事╱最高行政人員身份╱權益性質股份類別股份數目百分比%百分比%股份

Jiao Chengyao Director Beneficial owner A Share 4226964 0.274 0.237 Long position

焦承堯 董事 實益擁有人 A股 好倉

Jia Hao Director/Chief executive Beneficial owner A Share 2442300 0.158 0.137 Long position

賈浩 董事、最高行政人員 實益擁有人 A股 好倉

Meng Hechao Director Beneficial owner A Share 231000 0.015 0.013 Long position

孟賀超 董事 實益擁有人 A股 好倉

Li Kaishun Director Beneficial owner A Share 201000 0.013 0.011 Long position

李開順 董事 實益擁有人 A股 好倉

* On 17 June 2025 the board of supervisors was abolished and all Supervisors * 於2025年6月17日，本公司取消監事會，全體監事均於retired on 17 June 2025. The Company did not have any Supervisors as at 30 2025年6月17日退任。於2025年6月30日，本公司並無任何June 2025. For details please refer to the sub-section “Abolition of the Board of 監事。詳情請參閱本報告「董事、監事及最高行政人員」Supervisors and Retirement of Supervisors” under the section headed “Directors 一節「取消監事會、監事退任」分節。Supervisors and Chief Executives” in this report.

20 ZMJ Group Company Limited INTERIM REPORT 2025Directors Supervisors and Chief Executives

董事、監事及最高行政人員

Directors’ and Chief Executives’ Interests and Short 董事及最高行政人員於本公司及其相聯

Positions in Securities of the Company and its 法團的證券中之權益及淡倉*（續）

Associated Corporations* (Continued)

Save as disclosed above as at 30 June 2025 none of the directors or chief 除上文所披露者外，於2025年6月30日，本公司各董事executives of the Company had any interest or short position in the shares 或最高行政人員概無於本公司或任何相聯法團（定義見underlying shares or debentures of the Company or any of its associated 香港《證券及期貨條例》）的股份、相關股份或債券中，corporations (as defined in the SFO of Hong Kong) which were required to be 擁有任何根據《證券及期貨條例》第XV部第7及第8分部須notified to the Company and the Stock Exchange pursuant to the provisions of 知會本公司及聯交所的權益或淡倉（包括彼等視為擁有Divisions 7 and 8 of Part XV of the SFO (including interests or short positions 的權益或淡倉），或根據《證券及期貨條例》第352條須載which they are deemed to have); or were required pursuant to Section 352 of 入該條例所述的登記冊的權益或淡倉，或根據聯交所上the SFO to be recorded in the register referred to therein; or were required to 市規則內上市公司董事進行證券交易的標準守則須知會

be notified to the Company and the Stock Exchange pursuant to the Model Code 本公司和聯交所的權益或淡倉。

for Securities Transactions by Directors of Listed Companies under the Listing

Rules of the Stock Exchange.Independent Non-executive Directors 獨立非執行董事

The Company has appointed a sufficient number of independent non-executive 本公司已根據聯交所上市規則的規定委任足夠數目、並

directors with appropriate professional qualifications or accounting or related 具備適當的專業資格、或具備適當的會計或相關財務管

financial management expertise as required under the Listing Rules. As at 理專長的獨立非執行董事。於2025年6月30日，本公司

30 June 2025 the Company has appointed four independent non-executive 共委任四名獨立非執行董事，分別為程驚雷先生、季豐

directors namely Mr. Cheng Jinglei Mr. Ji Feng Mr. Fang Yuan and Ms. Yao 先生、方遠先生和姚艷秋女士。

Yanqiu.Structure and Number of Shareholders 股東結構及股東人數

Details of the shareholders recorded in the register of members of the Company 於2025年6月30日，本公司股東名冊所記錄的股東詳情as at 30 June 2025 are as follows: 如下：

Shareholders of A Shares A股股東 46608

Shareholders of H Shares H股股東 56

Total number of shareholders 股東總數 46664

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 21Directors Supervisors and Chief Executives

董事、監事及最高行政人員

Substantial Shareholders’ Interests and Short 主要股東於本公司所持股份、相關股份

Positions in Shares and Underlying Shares of the 之權益及淡倉

CompanyTo the knowledge of the Directors as at 30 June 2025 the following 據董事所知，於2025年6月30日，下列股東（董事或最高shareholders (other than the Directors or chief executives) had interests or short 行政人員除外）於本公司的任何股份及相關股份中，擁positions in any shares and the underlying shares of the Company which were 有根據《證券及期貨條例》第XV部第2及3分部須知會本公

required to be notified to the Company pursuant to the provisions of Divisions 2 司的權益或淡倉，或根據《證券及期貨條例》第336條須and 3 of Part XV of the SFO or which were required pursuant to Section 336 of 記入本公司備存的登記冊的權益或淡倉：

the SFO to be recorded in the register of members kept by the Company:

Approximate Approximate

percentage of percentage of

the relevant the total Long position/

Capacity/ Nature Class of Number of class of number of Short position/

Name of interest shares shares shares % shares % Lending pool

佔有關股份好倉╱淡倉╱類別的概約佔股份總數的可供借出的

姓名身份╱權益性質股份類別股份數目百分比%概約百分比股份

Henan Asset Management Co. Ltd.(1) Interest of beneficial A Share 333194876 21.61 18.66 Long position

河南資產管理有限公司(1) owner and party acting A股 好倉

in concert

實益擁有人及一致 H Share 8645200 3.55 0.48 Long position

行動人士的權益 H股 好倉

Hong Yi Investment Management Beneficial owner A Share 263985719 17.12 14.79 Long position

(Henan) Partnership 實益擁有人 A股 好倉

(Limited Partnership)(1)

泓羿投資管理（河南）合夥企業（有限合夥）(1)

State-owned Assets Supervision and Beneficial owner A Share 243892381 15.81 13.66 Long position

Administration Commission of Henan 實益擁有人 A股 好倉

Provincial People’s Government(2)河南省人民政府國有資產監督

管理委員會(2)

Henan State-owned Capital Operation Beneficial owner/Interest in A Share 243892381 15.81 13.66 Long position

Group Co. Ltd.(2) a controlled corporation A股 好倉

河南國有資本運營集團有限公司(2)實益擁有人╱於受控法團的權益

22 ZMJ Group Company Limited INTERIM REPORT 2025Directors Supervisors and Chief Executives

董事、監事及最高行政人員

Substantial Shareholders’ Interests and Short 主要股東於本公司所持股份、相關股份

Positions in Shares and Underlying Shares of the 之權益及淡倉（續）

Company (Continued)

Approximate Approximate

percentage of percentage of

the relevant the total Long position/

Capacity/ Nature Class of Number of class of number of Short position/

Name of interest shares shares shares % shares % Lending pool

佔有關股份好倉╱淡倉╱類別的概約佔股份總數的可供借出的

姓名身份╱權益性質股份類別股份數目百分比%概約百分比股份

Henan State-owned Capital Operation Beneficial owner A Share 34159479 2.22 1.91 Long position

Group Investment Co. Ltd.(2) 實益擁有人 A股 好倉河南國有資本運營集團投資

有限公司(2)

Henan Zhongyu Green New Energy Beneficial owner A Share 31508305 2.04 1.76 Long position

Co. Ltd.(2) 實益擁有人 A股 好倉

河南中豫格林新能源有限公司(2)

The Bank of New York Mellon Interest in a controlled H Share 16490734 6.78 Long position

Corporation(3) corporation H股 好倉於受控法團的權益

Interest in a controlled H Share 5680519 2.34 Lending pool

corporation H股 可供借出的股份於受控法團的權益

UBS Group AG(4) Interest in a controlled H Share 13142474 5.40 Long position

corporation H股 好倉於受控法團的權益

Interest in a controlled H Share 2300000 0.95 Long position

corporation H股 好倉於受控法團的權益

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 23Directors Supervisors and Chief Executives

董事、監事及最高行政人員

Substantial Shareholders’ Interests and Short 主要股東於本公司所持股份、相關股份

Positions in Shares and Underlying Shares of the 之權益及淡倉（續）

Company (Continued)

Notes: 附註：

(1) Henan Asset Management Co. Ltd. directly holds 69209157 A Shares and (1) 河南資產管理有限公司直接持有69209157股本公司A股

8645200 H Shares of the Company. Pursuant to Article 317(1)(a) of the SFO 及8645200股本公司H股。根據證券及期貨條例第317(1)Henan Asset Management Co. Ltd. is deemed a party acting in concert with Hong (a)條，河南資產管理有限公司被視作為泓羿投資管理（河Yi Investment Management (Henan) Partnership (Limited Partnership). Hence Henan 南）合夥企業（有限合夥）的一致行動人士，因此河南資產Asset Management Co. Ltd. is deemed to own the same batch of 263985719 A 管理有限公司被視作擁有由泓羿投資管理（河南）合夥企

Shares of the Company directly held by Hong Yi Investment Management (Henan) 業（有限合夥）直接持有同一批263985719股本公司A股。

Partnership (Limited Partnership). Henan Asset Management Co. Ltd. directly owns 河南資產管理有限公司直接及被視作擁有合共333194876

and is deemed to own an aggregate of 333194876 A Shares and 8645200 H 股本公司A股及8645200股本公司H股。

Shares of the Company.

(2) Henan State-owned Capital Operation Group Investment Co. Ltd. directly holds (2) 河南國有資本運營集團投資有限公司直接持有34159479

34159479 A Shares of the Company. Henan Zhongyu Green New Energy Co. Ltd. 股本公司A股，河南中豫格林新能源有限公司直接持有

directly holds 31508305 A Shares of the Company. Henan State-owned Capital 31508305股本公司A股。河南國有資本運營集團有限公司Operation Group Co. Ltd. directly holds 178224597 A Shares of the Company. 直接持有178224597股本公司A股。河南國有資本運營集Henan State-owned Capital Operation Group Investment Co. Ltd. and Henan 團投資有限公司及河南中豫格林新能源有限公司都是河

Zhongyu Green New Energy Co. Ltd. are wholly owned subsidiaries of Henan State- 南國有資本運營集團有限公司的全資附屬公司。河南國owned Capital Operation Group Co. Ltd. Henan State-owned Capital Operation 有資本運營集團有限公司為河南省人民政府國有資產監

Group Co. Ltd. is a wholly owned subsidiary of the State-owned Assets Supervision 督管理委員會的全資附屬公司。

and Administration Commission of Henan Provincial People’s Government.Pursuant to the SFO the State-owned Assets Supervision and Administration 根據證券及期貨條例，河南省人民政府國有資產監督管Commission of Henan Provincial People’s Government is deemed to own the same 理委員會被視作擁有由河南國有資本運營集團有限公司

batch of 243892381 A Shares of the Company directly held by Henan State- 直接持有同一批243892381股本公司A股。

owned Capital Operation Group Co. Ltd.

24 ZMJ Group Company Limited INTERIM REPORT 2025Directors Supervisors and Chief Executives

董事、監事及最高行政人員

Substantial Shareholders’ Interests and Short 主要股東於本公司所持股份、相關股份

Positions in Shares and Underlying Shares of the 之權益及淡倉（續）

Company (Continued)

Notes: (Continued) 附註：（續）(3) The Bank of New York Mellon Corporation is interested in a total of 16490734 (long (3) The Bank of New York Mellon Corporation（於本公司持有合共position) and 5680519 (Lending pool) H Shares held in the Company. As disclosed 16490734股（好倉）及5680519股（可供借出的股份）H股權

in the notice of interest submitted by The Bank of New York Mellon Corporation (with 益。根據The Bank of New York Mellon Corporation提交的權益通the relevant event dated 30 June 2025) The Bank of New York Mellon Corporation is 知（相關事件日期為2025年6月30日）所披露，以下於H股的interested in the following H Shares: 權益由The Bank of New York Mellon Corporation持有：

Name of controlled Name of Direct interest Number of

Corporation controlling person % control (Y/N) shares直接權益

受控制法團名稱控權人士名稱控制百分比（是╱否）股份數目

The Bank of New York Mellon The Bank of New York 100.00 Y Long position 16490734

Mellon Corporation 是 好倉

(4) UBS Group AG is interested in a total of 13142474 (long position) and 2300000 (4) UBS Group AG於本公司持有合共 13142474股（好倉）及

(short position) H Shares held in the Company. 3561400 (long position) H Shares 2300000股（淡倉）H股權益。3561400股（好倉）H股通過以are held by non-listed derivative instrument through cash settlement. As disclosed 現金結算的非上市衍生工具持有。根據UBS Group AG提交in the notice of interest submitted by UBS Group AG (with the relevant event dated 的權益通知（相關事件日期為2026年6月18日）所披露，以

18 June 2025) UBS Group AG is interested in the following H Shares: 下於H股的權益由UBS Group AG持有：

Name of controlling Direct interest

Name of controlled Corporation person % control (Y/N) Number of shares直接權益

受控制法團名稱控權人士名稱控制百分比（是╱否）股份數目

UBS Asset Management (Americas) LLC UBS Group AG 100.00 Y Long position 10302400是好倉

UBS AG UBS Group AG 100.00 Y Long position 2835074是好倉

Short position 2300000淡倉

UBS Fund Management (Switzerland) AG UBS Group AG 100.00 Y Long position 5000是好倉

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 25Material Events

重要事項

Equity Interest 股本權益

As at 30 June 2025 the aggregate share capital of the H shares of the 截至 2025年 6月 30日，本公司 H股股本總數為人民Company was RMB243234200 divided into 243234200 shares of RMB1.00 幣 243234200元，分為 243234200股，每股面值人each. The aggregate share capital of the A shares of the Company was 民幣1.00元的股份；本公司A股股本總數為人民幣

RMB1542165730 divided into 1542165730 shares of RMB1.00 each. 1542165730元，分為1542165730股，每股面值人民幣1.00元的股份。

Interim Dividend 中期股息

The Board did not propose the payment of interim dividend for the six months 本公司董事會並無建議派付截至2025年6月30日止六個

ended 30 June 2025. 月之中期股息。

Use of Proceeds from Initial Public Offering on the 在聯交所首次公開招股所得款項的使用

Stock Exchange

All the proceeds raised from the H Share offering of the Company have been used 本公司H股募集資金已在2021年12月31日之前全部使用

up before 31 December 2021. 完畢。

Corporate Governance 企業管治

The Board of the Company is committed to maintaining a high standard 本公司董事會致力維護高水平企業管治。董事會相信，of corporate governance practices. The Board believes that effective and 有效及合理的企業管治常規對本集團之發展至關重要，reasonable corporate governance practices are essential to the development of 同時可保障及提升股東權益。

the Group and can safeguard and enhance the interests of the shareholders.The Company was listed on the Stock Exchange on 5 December 2012. During 本公司自2012年12月5日在聯交所上市。自2025年1月1the period from 1 January 2025 and up to 30 June 2025 (the “Review 日起至2025年6月30日止期間（「回顧期間」），本公司已Period”) the Company complied with the requirements in the code provisions 遵守聯交所證券上市規則（「上市規則」）附錄C《1 企業管as set out in the Corporate Governance Code and Corporate Governance Report 治守則》及《企業管治報告》之守則條文所載規定。

contained in Appendix C1 to the Rules Governing the Listing of Securities on the

Stock Exchange (the “Listing Rules”)

26 ZMJ Group Company Limited INTERIM REPORT 2025Material Events

重要事項

A-Share Employee Stock Ownership Scheme A股員工持股計劃

On 17 April 2025 the Board of Directors of the Company proposed the adoption 本公司董事會於2025年4月17日建議採納2025年A股員工of the 2025 A-Share Employee Stock Ownership Scheme (the “Employee 持股計劃（「員工持股計劃」），與本次員工持股計劃有關Stock Ownership Scheme”) and matters related to the current Employee 的事項已在2025年6月5日舉行的本公司股東周年大會獲

Stock Ownership Scheme were approved by the shareholders at the Company’s 股東批准。

Annual General Meeting held on 5 June 2025.The purpose of the current Employee Stock Ownership Scheme is to further 本次員工持股計劃旨在進一步完善公司法人治理結構，improve the Company’s corporate governance structure establish and improve 建立和完善勞動者與所有者的利益共享、風險共擔機

the mechanism for sharing interests and risks between employees and owners 制，有效地將股東、上市公司和核心管理團隊三方利益effectively combine the interests of shareholders listed companies and 相結合，充分調動公司員工的積極性和創造力，增強員core management teams fully mobilize the enthusiasm and creativity of the 工的凝聚力，進一步提高公司治理水平和競爭力，促進Company’s employees enhance the cohesion of employees further strengthen 公司長期、持續、健康發展，確保公司未來發展戰略和the governance and competitiveness of the Company facilitate the long-term 經營目標的實現。

sustainable and healthy development of the Company and ensure the realization

of the strategy for future development and business goals of the Company.The current Employee Stock Ownership Scheme has a total of 307 本次員工持股計劃的參與人員共計307人，股份總數為Participants with a total of 39120130 A Shares and a total amount of 39120130股A股，資金總額為人民幣279708930元，以funds of RMB279708930. The subscription unit is “portion” with each 「份」作為認購單位，每一份額為人民幣1元。9名人士包portion has a value of RMB1. Nine individuals including directors (including 括董事（包括焦承堯先生、賈浩先生、孟賀超先生和李Mr. JIAO Chengyao Mr. JIA Hao Mr. MENG Hechao and Mr. LI Kaishun) 開順先生）及高級管理人員共持有份額人民幣71086230

and senior management personnel collectively hold portions with the value 元，佔本次員工持股計劃的25.41%，本公司及子公司核of RMB71086230 accounting for 25.41% of the total portions under 心管理人員、核心骨幹（包括研發、銷售、管理等核心the Employee Stock Ownership Scheme. A total of 298 core management 骨幹）人員298名，共持有份額人民幣208622700元，佔personnel and core backbones (including core backbones in R&D sales and 本次員工持股計劃的74.59%。

management) of the Company and its subsidiaries hold portions with the value

of RMB208622700 accounting for 74.59% of the total shares under the

Employee Stock Ownership Scheme.The underlying shares of the current Employee Stock Ownership Scheme are 本次員工持股計劃的股票來源為本公司回購的A股股

A Shares repurchased by the Company with a validity period of 72 months 票，存續期為72個月，自公司股東大會審議通過且公司commencing from the date on which the scheme is approved by the Company’s 公告最後一筆標的股票過戶至本次員工持股計劃名下之

General Meeting and the last batch of shares are transferred to the name of 日起計算。本次計劃自公司公告完成從公司回購專用證the Employee Stock Ownership Scheme. The scheme establishes a 12-month 券賬戶受讓回購的A股標的股票的公告之日起設立12個

lock-up period commencing from the date the Company announces the 月的鎖定期。鎖定期結束後分兩期解鎖，解鎖時點分別completion of the transfer of the repurchased A Shares from the dedicated 為自公司公告最後一筆標的股票過戶至本次員工持股計

securities account. After the conclusion of the lock-up period the shares will be 劃名下之日起滿12個月、24個月，每批解鎖的標的股票unlocked in two installments with the unlocking dates being 12 months and 24 比例分別為50%、50%，各期具體解鎖比例和數量將根months from the date the Company announces the transfer of the last batch of 據公司業績指標和持有人個人績效考核結果計算確定。

underlying shares to the name of this Employee Stock Ownership Scheme. Each

installment will unlock 50% and 50% of the target shares respectively with

the specific unlocking ratios and quantities for each period to be determined

based on the Company’s performance indicators and the individual performance

appraisal results of the holders.After the reporting period the 39120130 A Shares held in the “Special 於報告期後，「鄭州煤礦機械集團股份有限公司回購專Securities Account for Share Repurchase of Zhengzhou Coal Mining Machinery 用證券賬戶」內的39120130股A股股票已非交易過戶至Group Co. Ltd.” have been transferred to the “Special Securities Account for the 「鄭州煤礦機械集團股份有限公司－2025年員工持股計

2025 Employee Stock Ownership Scheme of Zhengzhou Coal Mining Machinery 劃」專用證券賬戶，過戶價格每股為人民幣7.15元。

Group Co. Ltd.” with a transfer price of RMB7.15 per share.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 27Material Events

重要事項

Purchase sale or redemption of the Company’s listed 購買、出售或贖回本公司上市證券

securities

Situation regarding the repurchase of A-shares through centralized 以集中競價交易方式回購A股股份情況：

competitive bidding:

The Company held its 12th meeting of the Sixth Session of the Board of 本公司於2025年3月12日召開第六屆董事會第十二次會

Directors on 12 March 2025 and approved a plan to repurchase the Company’s 議，審議通過了擬以集中競價交易方式回購公司A股股A Shares through centralized competitive bidding (“Share Repurchase Plan”). 份的方案（「股份回購方案」）。根據股份回購方案，本公Pursuant to the Share Repurchase Plan the Company intends to use its own 司擬使用自有資金及自籌資金通過集中競價交易方式回

funds and internally raised funds to repurchase a portion of its issued ordinary 購公司已發行的部分人民幣普通股（A股），並在未來適shares (A-shares) through centralized competitive bidding and to use the 宜時機將前述回購股份用於公司股權激勵或員工持股計

repurchased shares for equity incentive plans or employee stock Ownership 劃。公司本次回購股份的資金總額不低於人民幣5億元Schemes at an appropriate time in the future. The total amount of funds for the （含），不超過人民幣6億元（含），回購股份價格不超過repurchase of shares shall not be less than RMB500 million (inclusive) and shall 人民幣17.00元╱股，回購股份期限為自公司董事會審not exceed RMB600 million (inclusive). The repurchase price shall not exceed 議通過本次回購股份方案之日起6個月內。

RMB17.00 per share and the repurchase period shall be within six months from

the date of approval of the Share Repurchase Plan by the Board of Directors.Pursuant to the share repurchase plan the Company repurchased a total 根據股份回購方案，本公司於報告期內以集中競價交易of 39120130 A Shares through centralized competitive bidding during the 方式累計回購A股股份39120130股，回購成交總金額為reporting period with a total repurchase price of RMB599917693.20 (excluding 人民幣599917693.20元（不含交易費用）。

transaction fees).As of 31 March 2025 the share repurchase plan was completed. In March 截至2025年3月31日，本次股股份回購方案已實施完

2025 the Company repurchased 39120130 A shares in aggregate through 畢，於2025年3月，本公司以集中競價交易方式在上海

centralized competitive bidding on Shanghai Stock Exchange representing 證券交易所累計回購公司A股股份39120130股，佔截

2.19% of the Company’s total shares as of the same date. The highest 至同日公司股份總數的2.19%。本次股份回購的最高成

transaction price for this share repurchase was RMB15.86 per share and the 交價為人民幣15.86元╱股，最低成交價為人民幣15.05lowest transaction price was RMB15.05 per share. The average transaction 元╱股，回購成交均價為人民幣15.335元╱股，回購支price for the repurchases was RMB15.335 per share with a total repurchase 付的總金額為人民幣599917693.20元（不含交易費用）。

amount of RMB599917693.20 (excluding transaction fees). These treasury 該等庫存股後續將用於實施股權激勵計劃或員工持股計

shares will subsequently be used for implementing equity incentive plans or 劃。

employee stock ownership schemes.

28 ZMJ Group Company Limited INTERIM REPORT 2025Material Events

重要事項

Except as disclosed above the Company or any of its subsidiaries did not 除上文所披露者外，本公司或其他任何附屬公司於回顧purchase sell or redeem any of the Company’s listed securities (including the 期間概無購買、出售或贖回本公司任何上市證券（包括sale of treasury shares) during the period under review. 出售庫存股份）。

Acquisition and Disposal 收購與處置

During the Review Period the Company was not involved in any material action 於回顧期間，本公司概無涉及任何重大收購與處置資產of acquisition and disposal of assets. 行為。

Material Litigation and Arbitration 重大訴訟及仲裁

During the Review Period the Company was not involved in any material 於回顧期間，本公司概無涉及任何重大訴訟或仲裁，亦litigation or arbitration and there was no litigation or claim of material 無任何尚未了結或可能提出或被控的重大訴訟或索償。

importance pending and threatened by or against the Company.Audit Committee 審計委員會The audit and risk management committee of the Company (the “Audit 本公司審計與風險管理委員會（「審計委員會」）已審閱本Committee”) has reviewed the accounting standards and practices adopted by 公司所採納的會計準則及慣例，並討論有關審計、內部the Company and discussed the matters related to auditing internal control and 監控及財務申報事項。審計委員會已審閱本公司截至financial reporting. The Audit Committee has reviewed the unaudited interim 2025年6月30日止六個月未經審核中期簡明綜合財務資

condensed consolidated financial information for the six months ended 30 June 料及本中期報告。

2025 and this interim report of the Company.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 29Material Events

重要事項

Events after the reporting period 期後事項

Change of Company Name and Stock Short Name 更改公司名稱及證券簡稱

The Board of Directors of the Company proposed on 28 April 2025 to change 本公司董事會於2025年4月28日建議變更公司名稱、證

the Company’s name and stock short name. This matter was approved by the 券簡稱，該事項由本公司股東於2025年6月17日舉行之Company’s shareholders at the 2025 Second Extraordinary General Meeting 2025年第二次臨時股東大會上以投票表決方式批准。

held on 17 June 2025 by way of voting.On 7 July 2025 the Company completed the business registration procedures 於2025年7月7日，本公司完成了公司名稱的工商變更登for the change of company name and obtained the new business license issued 記手續，並取得了鄭州市市場監督管理局換發的營業執by the Administration of Market Regulation of Zhengzhou City. Effective from 7 照。自2025年7月7日起，本公司的公司中文名稱由「鄭July 2025 the Company’s Chinese name has been changed from “鄭州煤礦 州煤礦機械集團股份有限公司」變更為「中創智領（鄭州）機械集團股份有限公司” to “中創智領（鄭州）工業技術集團股份有 工業技術集團股份有限公司」。限公司”.On 30 July 2025 the Registrar of Companies in Hong Kong issued the 於2025年7月30日，香港公司註冊處處長發出《註冊非香“Certificate of Registration of Alteration of Name of Registered Non-Hong Kong 港公司變更名稱註冊證明書》（「《證明書》」），《證明書》Company” (“the Certificate”) The Certificate confirms that the English name 確認本公司根據《公司條例》（香港法例第622章）第16部

of the Company registered in Hong Kong under Part 16 of the Companies 在香港註冊的英文名稱由「Zhengzhou Coal Mining Machinery

Ordinance (Cap. 622 of the Laws of Hong Kong) has been changed from Group Company Limited」變更為「ZMJ Group Company Limited」

“Zhengzhou Coal Mining Machinery Group Company Limited” to “ZMJ Group 及中文名稱由「鄭州煤礦機械集團股份有限公司」變更為Company Limited” and the Chinese name has been changed from “鄭州煤礦 「中創智領（鄭州）工業技術集團股份有限公司」。機械集團股份有限公司” to “中創智領（鄭州）工業技術集團股份有限公司”.The Chinese stock short name for the Company’s H Shares traded on the Hong 本公司於香港聯交所進行買賣H股之中文證券簡稱由

Kong Stock Exchange has been changed from “鄭煤機” to “中創智領” 「鄭煤機」變更為「中創智領」，自2025年8月13日上午9時effective as of 9:00 a.m. on August 13 2025. The English stock short name 正起生效。本公司於香港聯交所進行買賣H股之英文證for the Company’s H shares traded on the Hong Kong Stock Exchange remains 券簡稱保持不變，仍為「ZMJ」，本公司H股股份代號亦unchanged as “ZMJ” and the stock code for the Company’s H shares also 維持不變，仍為「00564」。

remains unchanged as “00564”.Further details are set out in the announcements of the Company dated 28 April 有關詳情載於本公司日期為2025年4月28日、2025年6月

2025 17 June 2025 7 July 2025 and 7 August 2025 and the circular dated 17日、2025年7月7日和2025年8月7日的公告，以及日期

29 May 2025. 為2025年5月29日的通函。

30 ZMJ Group Company Limited INTERIM REPORT 2025Report on Review of Condensed Consolidated Financial Statements

簡明綜合財務資料的審閱報告

To the Board of Directors of ZMJ Group Company Limited 致中創智領（鄭州）工業技術集團股份有限公司董事會

(Incorporated in the People’s Republic of China with limited liability) （於中華人民共和國註冊成立的有限公司）

Introduction 引言

We have reviewed the condensed consolidated financial statements of ZMJ 本核數師（以下簡稱「我們」）已審閱列第33至84頁所載中

Group Company Limited (the “Company”) and its subsidiaries (collectively 創智領（鄭州）工業技術集團股份有限公司（以下簡稱「貴referred to as the “Group”) set out on pages 33 to 84 which comprise the 公司」）及其附屬公司（以下統稱「貴集團」）的簡明綜合財

condensed consolidated statement of financial position as of 30 June 2025 務報表，其包括於2025年6月30日的簡明綜合財務狀況and the related condensed consolidated statement of profit or loss and other 表與截至該日止六個月期間的相關簡明綜合損益及其他

comprehensive income condensed consolidated statement of changes in equity 全面收益表、簡明綜合權益變動表和簡明綜合現金流量

and condensed consolidated statement of cash flows for the six-month period 表，以及簡明綜合財務報表的附註。香港聯合交易所有then ended and notes to the condensed consolidated financial statements. 限公司證券上市規則規定，就中期財務資料擬備的報告The Rules Governing the Listing of Securities on The Stock Exchange of Hong 必須符合以上規則的有關條文以及國際會計準則委員會Kong Limited require the preparation of a report on interim financial information 頒佈之國際會計準則第34號「中期財務報告」（「國際會計to be in compliance with the relevant provisions thereof and International 準則第34號」）。 貴公司董事須負責根據國際會計準則Accounting Standard 34 “Interim Financial Reporting” (“IAS 34”) as issued by 第34號擬備及列報該等簡明綜合財務報表。我們的責任the International Accounting Standards Board. The directors of the Company 是根據我們的審閱對該等簡明綜合財務報表作出結論，are responsible for the preparation and presentation of these condensed 並僅按照我們協定的業務約定條款向 閣下（作為整體）

consolidated financial statements in accordance with IAS 34. Our responsibility is 報告我們的結論，除此之外本報告別無其他目的。我們to express a conclusion on these condensed consolidated financial statements 不會就本報告的內容向任何其他人士負上或承擔任何責

based on our review and to report our conclusion solely to you as a body in 任。

accordance with our agreed terms of engagement and for no other purpose.We do not assume responsibility towards or accept liability to any other person

for the contents of this report.Scope of Review 審閱範圍

We conducted our review in accordance with Hong Kong Standard on Review 我們已根據香港會計師公會頒佈的香港審閱準則第2410Engagements 2410 “Review of Interim Financial Information Performed by 號「由實體的獨立核數師執行中期財務資料審閱」進行審the Independent Auditor of the Entity” as issued by the Hong Kong Institute of 閱。審閱簡明綜合財務報表包括主要向負責財務和會計Certified Public Accountants. A review of these condensed consolidated financial 事務的人員作出查詢，及應用分析性和其他審閱程序。

statements consists of making inquiries primarily of persons responsible for 審閱的範圍遠較根據《香港審計準則》進行審計的範圍為

financial and accounting matters and applying analytical and other review 小，故不能令我們可保證我們將知悉在審計中可能被發procedures. A review is substantially less in scope than an audit conducted in 現的所有重大事項。因此，我們不會發表審計意見。

accordance with Hong Kong Standards on Auditing and consequently does not

enable us to obtain assurance that we would become aware of all significant

matters that might be identified in an audit. Accordingly we do not express an

audit opinion.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 31Report on Review of Condensed Consolidated Financial Statements

簡明綜合財務資料的審閱報告

Conclusion 結論

Based on our review nothing has come to our attention that causes us to 按照我們的審閱，我們並無發現任何事項，令我們相believe that the condensed consolidated financial statements are not prepared 信 貴集團的簡明綜合財務報表未有在各重大方面根據

in all material respects in accordance with IAS 34. 國際會計準則第34號擬備。

Deloitte Touche Tohmatsu 德勒 *關黃陳方會計師行

Certified Public Accountants 執業會計師

Hong Kong 香港

28 August 2025 2025年8月28日

32 ZMJ Group Company Limited INTERIM REPORT 2025Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

簡明綜合損益及其他全面收益表

For the six months ended 30 June 2025 截至2025年6月30日止六個月

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

Notes RMB’000 RMB’000附註人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Revenue 收入 4 19981541 18953466

Cost of sales 銷售成本 (15327513) (14429350)

Gross profit 毛利 4654028 4524116

Other income 其他收入 6 239698 386900

Other gains and losses 其他收益及虧損 7 304687 45429

Selling and distribution expenses 銷售及分銷開支 (420359) (472186)

Administrative expenses 行政開支 (622647) (565260)

Research and development expenses 研發費用 (813479) (833928)

Impairment losses under expected credit loss 預期信貸虧損（「預期信貸虧損」）

(“ECL”) model net of reversal 模型下的減值虧損，扣除撥回 (196172) (147211)Share of profit of associates 應佔聯營公司溢利 17886 31002

Share of profit of joint ventures 應佔合營企業溢利 1304 4571

Finance costs 融資成本 8 (126907) (136824)

Profit before tax 除稅前溢利 3038039 2836609

Income tax expense 所得稅開支 9 (456800) (485758)

Profit for the period 期內溢利 10 2581239 2350851

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 33Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income

簡明綜合損益及其他全面收益表

For the six months ended 30 June 2025 截至2025年6月30日止六個月

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

Notes RMB’000 RMB’000附註人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Other comprehensive income (expense): 其他全面收益（開支）：

Item that will not be reclassified to profit or loss: 將不會重新分類至損益的

項目：

Remeasurement of post-employment benefit 重新計量退休福利責任

obligations (1) –

Items that may be reclassified subsequently to 可能於其後重新分類至損益的

profit or loss: 項目：

Exchange differences arising on translation of 換算海外業務產生的匯兌差額

foreign operations 151624 (84836)

Fair value gain (loss) on hedging instruments 指定作現金流對沖的對沖工具的

designated as cash flow hedging 公平值收益（虧損） 6150 (6080)

Other comprehensive income (expense) for 期內其他全面收益（開支），the period net of income tax 扣除所得稅 157773 (90916)

Total comprehensive income for the period 期內全面收益總額 2739012 2259935

Profit for the period attributable to: 以下人士應佔期內溢利：

Owners of the Company 本公司股東 2527446 2174797

Non-controlling interests 非控股權益 53793 176054

25812392350851

Total comprehensive income for the period 以下人士應佔期內全面收益總額：

attributable to:

Owners of the Company 本公司股東 2685232 2086598

Non-controlling interests 非控股權益 53780 173337

27390122259935

Earnings per share 每股盈利

– Basic (RMB) －基本（人民幣元） 12 1.43 1.23

– Diluted (RMB) －攤薄（人民幣元） 12 1.43 1.22

34 ZMJ Group Company Limited INTERIM REPORT 2025Condensed Consolidated Statement of Financial Position

簡明綜合財務狀況表

As at 30 June 2025 於2025年6月30日

As at 30 June As at 31 December

20252024

於2025年於2024年

6月30日12月31日

Notes RMB’000 RMB’000附註人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

NON-CURRENT ASSETS 非流動資產

Property plant and equipment 物業、廠房及設備 13 7786055 7389243

Right-of-use assets 使用權資產 2166550 2101338

Investment properties 投資物業 251355 260671

Goodwill 商譽 88283 88283

Intangible assets 無形資產 14 902302 804801

Investments in associates 於聯營公司的投資 666682 658067

Investments in joint ventures 於合營企業的投資 67185 65330

Financial assets at fair value through profit or loss 以公平值計量且其變動計入損益的金融資產1570507050

Equity instruments at fair value through other 以公平值計量且其變動計入其他comprehensive income (“FVTOCI”) 全面收益（「以公平值計量且其變動計入其他全面收益」）的股本工具15719334419334

Deferred income tax assets 遞延所得稅資產 16 354167 372486

Finance lease receivables 融資租賃應收款項 72017 62404

Long-term receivables 長期應收款項 222757 319202

Bank deposits 銀行存款 18 601158 980022

1390489513528231

CURRENT ASSETS 流動資產

Finance lease receivables current portion 融資租賃應收款項，流動部分 41346 20662Long-term receivables current portion 長期應收款項，流動部分 230287 248237Inventories 存貨 8064609 9453770

Trade and other receivables contract assets 貿易及其他應收款項、合同資產 17 14247355 11920546

Transferred trade receivables 已劃轉的貿易應收款項 478245 431851

Financial assets at fair value through profit or loss 以公平值計量且其變動計入損益的金融資產1562318575821562

Financial assets at FVTOCI 以公平值計量且其變動計入其他全面收益的金融資產1519789392502853

Derivative financial instruments 衍生金融工具 15 40740 36386

Tax recoverable 可收回稅項 46241 38663

Assets classified as held for sale 分類為持作出售的資產 91072 91072

Bank deposits 銀行存款 18 1646717 1934565

Cash and cash equivalents 現金及現金等價物 18 2804158 2987585

3590156635487752

Total assets 總資產 49806461 49015983

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 35Condensed Consolidated Statement of Financial Position

簡明綜合財務狀況表

As at 30 June 2025 於2025年6月30日

As at 30 June As at 31 December

20252024

於2025年於2024年

6月30日12月31日

Notes RMB’000 RMB’000附註人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

NON-CURRENT LIABILITIES 非流動負債

Borrowings 借貸 20 2114969 2631415

Lease liabilities 租賃負債 1091823 1050013

Deferred income tax liabilities 遞延所得稅負債 16 108547 111843

Contract liabilities 合同負債 39546 48118

Provisions 撥備 21 15054 12686

Employee benefit obligations 僱員福利責任 370205 297377

Other non-current liabilities 其他非流動負債 345190 366641

40853344518093

CURRENT LIABILITIES 流動負債

Trade and other payables 貿易及其他應付款項 19 16197237 13932210

Contract liabilities 合同負債 2064195 3070926

Income tax liabilities 所得稅負債 218623 396718

Borrowings 借貸 20 3502353 3404232

Lease liabilities 租賃負債 188338 144702

Provisions 撥備 21 283113 273033

Liabilities associated with transferred trade 與已劃轉的貿易應收款項有關的

receivables 負債 492196 445802

Derivative financial instruments 衍生金融工具 15 56556 84558

2300261121752181

Total liabilities 總負債 27087945 26270274

CAPITAL AND RESERVES 股本及儲備

Share capital 股本 22 1785400 1785400

Share premium 股份溢價 4548778 4548778

Reserves 儲備 15674053 15616621

Equity attributable to owners of the Company 本公司股東應佔權益 22008231 21950799

Non-controlling interests 非控股權益 710285 794910

Total equity 權益總額 22718516 22745709

Total equity and liabilities 權益及負債總額 49806461 49015983

The interim condensed consolidated financial statements on pages 33 to 84 董事會於2025年8月28日批准並授權刊發於第33頁至84

were approved and authorised for issue by the Board of Directors on 28 August 頁之中期簡明綜合財務報表，並由下列董事代表簽署：

2025 and are signed on its behalf by:

Jiao Chengyao Jia Hao焦承堯賈浩

DIRECTOR DIRECTOR董事董事

36 ZMJ Group Company Limited INTERIM REPORT 2025Condensed Consolidated Statement of Changes in Equity

簡明綜合權益變動表

For the six months ended 30 June 2025 截至2025年6月30日止六個月

Attributable to owners of the Company本公司股東應佔

Statutory Currency Cash flow Non- Total

Share Share Treasury Revaluation surplus translation hedging Other Retained controlling equity

capital premium share reserve reserve reserve reserves reserves earnings Total interests法定貨幣現金流量非控股股本股份溢價庫存股份重估儲備盈餘公積匯兌儲備對沖儲備其他儲備保留盈利總計權益權益總額

RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元

(Note c)（附註c）

At 1 January 2025 (audited) 於2025年1月1日（經審核） 1785400 4548778 – 125641 1198347 (203122) (4408) 39225 14460938 21950799 794910 22745709

Profit for the period 期間溢利 – – – – – – – – 2527446 2527446 53793 2581239

Other comprehensive (expense) 期內其他全面（開支）收益

income for the period – – – (1) – 151637 6150 – – 157786 (13) 157773

Total comprehensive (expense) 期內全面（開支）收益總額

income for the period – – – (1) – 151637 6150 – 2527446 2685232 53780 2739012

Employee stock ownership plan of a 一間附屬公司的員工

subsidiary 持股計劃 – – – – – – – 1439 – 1439 26 1465

Repurchase of Treasury Stock (Note 22) 回購庫存股份（註22） – – (600002) – – – – – – (600002) – (600002)

Acquisition of non-controlling 收購非控股權益（附註a）

interests (Note a) – – – – – – – (118540) – (118540) (291012) (409552)

Capital contribution from 非控制性權益注資（附註b）

non-controlling interests (Note b) – – – – – – – 45136 – 45136 158079 203215

Dividends (Note 11) 股息（附註11） – – – – – – – – (1955833) (1955833) (5498) (1961331)

At 30 June 2025 (unaudited) 於2025年6月30日（未經審核） 1785400 4548778 (600002) 125640 1198347 (51485) 1742 (32740) 15032551 22008231 710285 22718516

Note a: On 17 January 2025 the Company acquired 17.10% of the shares from the 附註a： 於2025年1月17日，本公司以人民幣72504000元之代價minority shareholders of ASIMCO Camshaft (Yizheng) Co. Ltd. at a consideration 向亞新科凸輪軸（儀徵）有限公司少數股東收購17.10%

of RMB72504000 and 16.56% of the shares from the minority shareholders 股份，以人民幣243596000元之代價向儀徵亞新科雙環of ASIMCO Shuanghuan Piston Ring (Yizheng) Co.Ltd. at a consideration of 活塞環有限公司少數股東收購16.56%的股份。該交易RMB243596000. After this transaction the Company held 80.10% equity 完成後，本公司持有兩家實體80.10%的股權。

interest in both entities.On 3 June 2025 the Company acquired 1.2889% of the shares from the 於2025年6月3日，本公司以人民幣93452000元之代價minority shareholders of Zhengzhou Hengda Intelligent Control Technology Co. 向鄭州恒達智控科技股份有限公司（「恆達智控」）少數

Ltd. (“Hengda Intelligent”) at a consideration of RMB93452000. After this 股東收購1.2889%股份。該交易完成後，本公司持有恒transaction the Company held 99.4922% equity interest in Hengda Intelligent. 達智控99.4922%股權。

Note b: On 8 February 2025 ASIMCO (Nanjing) Limited (“ASIMCO Nanjing”) entered into 附註b：2025年2月8日，亞新科工業技術（南京）有限公司（「亞the capital increase agreement with a strategic investor. The strategic investor 新科南京」）與一位戰略投資者簽署增資協議。該戰contributed RMB198315000 and held 4.50% equity interest in ASIMCO 略投資者出資人民幣198315000元並持有亞新科南京

Nanjing. After the capital increase transaction the Company held 95.50% equity 4.50%的股權。於增資交易完成後，本公司持有亞新科interest in ASIMCO Nanjing. 南京的95.50%股權。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 37Condensed Consolidated Statement of Changes in Equity

簡明綜合權益變動表

For the six months ended 30 June 2025 截至2025年6月30日止六個月

Attributable to owners of the Company本公司股東應佔

Statutory Currency Cash flow Non-

Share Share Treasury Revaluation surplus translation hedging Other Retained controlling Total

capital premium share reserve reserve reserve reserves reserves earnings Total interests equity法定貨幣現金流量非控股股本股份溢價庫存股份重估儲備盈餘公積匯兌儲備對沖儲備其他儲備保留盈利總計權益權益總額

RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元

(Note c)（附註c）

At 1 January 2024 (audited) 於2024年1月1日（經審核） 1781409 4533431 (52427) 112399 1198347 (83212) (773) 872436 12016602 20378212 1503117 21881329

Profit for the period 期內溢利 – – – – – – – – 2174797 2174797 176054 2350851

Other comprehensive expense 期內其他全面開支

for the period – – – – – (82119) (6080) – – (88199) (2717) (90916)

Total comprehensive (expense) 期內全面（開支）收益總額

income for the period – – – – – (82119) (6080) – 2174797 2086598 173337 2259935

Exercise of share options (Note 23) 行使購股權（附註23） 4129 14795 – – – – – – – 18924 – 18924

Restricted share incentive 限制性股票激勵計劃（附註23）

scheme (Note 23) – – – – – – – 10211 – 10211 49 10260

Employee stock ownership plan 一間附屬公司的員工持股計劃

of a subsidiary – – – – – – – 2103 – 2103 365 2468

Dividends (Note 11) 股息（附註11） – – – – – – – – (1499852) (1499852) (95106) (1594958)

At 30 June 2024 (unaudited) 於2024年6月30日（未經審核） 1785538 4548226 (52427) 112399 1198347 (165331) (6853) 884750 12691547 20996196 1581762 22577958

Note c: The cash flow hedging reserve represents the cumulative effective portion of 附註c： 現金流量對沖儲備指就現金流量對沖訂立的對沖工具

gains and losses arising on changes in fair value of hedging instruments entered 的公平值變動產生的收益及虧損累計有效部分。已於into for cash flow hedges. The cumulative gains and losses arising on changes in 現金流量對沖儲備確認及累計的對沖工具的公平值變

fair value of the hedging instrument that are recognised and accumulated under 動產生的累計收益及虧損僅在對沖項目影響損益時方

the cash flow hedging reserve will be reclassified to profit or loss only when the 會重新分類至損益，或計入非財務對沖項目的調整之hedged item affects the profit or loss or is included as an adjustment to the non- 內。

financial hedged item.

38 ZMJ Group Company Limited INTERIM REPORT 2025Condensed Consolidated Statement of Cash Flows

簡明綜合現金流量表

For the six months ended 30 June 2025 截至2025年6月30日止六個月

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

OPERATING ACTIVITIES 經營活動

Profit before tax 除稅前溢利 3038039 2836609

Adjustments for: 調整：

Finance costs 融資成本 126907 136824

Interest income on bank deposits long-term 銀行存款、長期應收款項及融資租

receivables and finance lease receivables 賃應收款項的利息收入 (55719) (116265)

Share of profit of associates 應佔聯營公司溢利 (17886) (31002)

Share of profit of joint ventures 應佔合營企業溢利 (1304) (4571)

Gain on disposal of property plant and equipment 出售物業、廠房及設備以及無形資

and intangible assets 產的收益 (2144) (120)

Net fair value gain on financial assets at fair value 以公平值計量且其變動計入損益的

through profit or loss 金融資產的公平值收益淨額 (275164) (116903)

Net fair value gain on derivative financial instruments 衍生金融工具公平值收益淨額 (52376) (6416)

Depreciation of property plant and equipment 物業、廠房及設備折舊 423625 406553

Depreciation of investment properties 投資物業折舊 8398 5473

Amortisation of intangible assets 無形資產攤銷 114887 114718

Depreciation of right-of-use assets 使用權資產折舊 85345 75261

Impairment losses under ECL model net of reversal 預期信貸虧損模式下的減值虧損，扣除撥回196172147211

Impairment losses of property plant and equipment 物業、廠房及設備減值虧損 1551 –

Impairment losses of intangible assets 無形資產減值虧損 – 26256

Impairment losses of investments in an associate 於一間聯營公司的投資減值虧損 – 93315

Restricted share incentive scheme (Note 23) 限制性股票激勵計劃（附註23） – 10260

Employee stock option plan of a subsidiary 一間附屬公司的員工持股計劃 1465 2468

(Reversal) accrual of inventory provision （撥回）應計存貨撥備 (5364) 1706

Effect of foreign exchange rate changes 匯率變動的影響 (5996) (7587)

Operating cash flows before movements in working Capital 營運資金變動前的營運現金流量 3580436 3573790

Decrease in inventories 存貨增加 1624336 493766

Increase in trade and other receivables 貿易及其他應收款項增加 (2131729) (1673174)

Decrease in notes receivable 應收票據減少 523914 265761

Decrease (increase) in long-term receivables and finance 長期應收款項及融資租賃應收款項

lease receivables 減少（增加） 95009 (98407)

Decrease in trade and other payables 貿易及其他應收款項減少 (538395) (215764)

Decrease in contract liabilities 合同負債減少 (1039521) (564634)

Cash generated from operations 經營業務所得現金 2114050 1781338

Income tax paid 已付所得稅 (662392) (453064)

NET CASH GENERATED FROM 經營活動所得現金淨額

OPERATING ACTIVITIES 1451658 1328274

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 39Condensed Consolidated Statement of Cash Flows

簡明綜合現金流量表

For the six months ended 30 June 2025 截至2025年6月30日止六個月

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

INVESTING ACTIVITIES 投資活動

Interest income on bank deposits long-term receivables 銀行存款、長期應收款項及融資租賃

and finance lease receivables 應收款項的利息收入 54350 116265

Government grants related to assets received 就資產收取的政府補助 72832 50628

Dividends from an associate 一間聯營公司的股息 13862 5368

Proceeds on disposal of property plant and equipment 出售物業、廠房及設備以及無形資產

and intangible assets 所得款項 58879 14891

Purchases of equity instruments at FVTOCI 購買以公平值計量且其變動計入

其他全面收益的股本工具(300000)–

Purchases of property plant and equipment 購置物業、廠房及設備 (607456) (805383)

Purchases of intangible assets 購置無形資產 (137205) (69807)

Purchases of land use right 購置土地使用權 (12411) –

Payment of contribution to an associate 向一家聯營公司支付供款 (7500) –

Placement for other financial assets certificate of 存放其他金融資產、存單及

deposits and structured deposits 結構性存款 (4312300) (4007840)

Proceeds from other financial assets certificate of 其他金融資產、存單及結構性

deposits and structured deposits 存款所得款項 4177169 4152310

Placement of bank deposits with original maturity 存放原到期日三個月以上的

over three months 銀行存款 (304378) (1037045)

Withdrawal of bank deposits with original maturity 提取原到期日為三個月以上的

over three months 銀行存款 760794 378911

Placement of pledged bank deposits 存放已抵押銀行存款 (739646) (403304)

Withdrawal of pledged bank deposits 提取已抵押銀行存款 950354 846485

Placement of restricted cash 存放受限制現金 (412) 341

Placement of derivative financial instruments 存放衍生金融工具 21553 (14603)

NET CASH USED IN INVESTING ACTIVITIES 投資活動所用現金淨額 (311515) (772783)

40 ZMJ Group Company Limited INTERIM REPORT 2025Condensed Consolidated Statement of Cash Flows

簡明綜合現金流量表

For the six months ended 30 June 2025 截至2025年6月30日止六個月

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

FINANCING ACTIVITIES 融資活動

Proceeds from new borrowings 新借貸所得款項 2444072 1320682

Proceeds from exercise of share options 行使購股權所得款項 – 18924

Proceeds from restricted share incentive scheme 限制性股票激勵計劃所得款項

(Note 23) （附註23） 277549 –

Purchase of non-controlling interests 購置非控制權益 (409552) –

Repurchase of treasury stock 回購庫存股份 (600002) –

Repayment of borrowings 償還借貸 (3018663) (996440)

Interests paid 已付利息 (130096) (133816)

Contribution from non-controlling interests 非控股權益出資 203215 –

Dividends paid to the Company’s shareholders 已付本公司股東股息 – (1295535)

Dividends paid to non-controlling interests 已付非控股權益股息 (5498) (95106)

Lease payments 租賃款項 (99747) (108328)

NET CASH USED IN FINANCING ACTIVITIES 融資活動所用現金淨額 (1338722) (1289619)

NET DECREASE IN CASH AND CASH EQUIVALENTS 現金及現金等價物減少淨額 (198579) (734128)

EFFECT OF FOREIGN EXCHANGE RATE CHANGES 匯率變動的影響 15152 (18604)

CASH AND CASH EQUIVALENTS AT 1 JANUARY 於1月1日的現金及現金等價物 2987585 4729233

CASH AND CASH EQUIVALENTS AT 30 JUNE 於6月30日的現金及現金等價物

represented by cash and cash equivalents 指現金及現金等價物

(Note 18) （附註18） 2804158 3976501

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 41Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

1. General Information 1. 一般資料

ZMJ Group Company Limited (the “Company” formerly known as 中創智領（鄭州）工業技術集團股份有限公司（「本公Zhengzhou Coal Mining Machinery Group Company Limited) was 司」，前稱鄭州煤礦機械集團股份有限公司）於中華established in the People’s Republic of China (the “PRC”) on 28 December 人民共和國（「中國」）國有企業鄭州煤礦機械集團有

2008 as a joint stock company with limited liability under the Company 限責任公司重組後，根據中國公司法於2008年12月

Law of the PRC after a reorganisation of Zhengzhou Coal Mining Machinery 28日在中國成立為股份有限公司。

Group Co. Ltd. a state owned enterprise in the PRC.The respective addresses of the registered office and the principal place of 本公司的註冊辦事處地址及主要營業地點各自披露

business of the Company are disclosed in the corporate information section 於中期報告公司資料一節。本公司與其附屬公司of the interim report. The Company and its subsidiaries (collectively the （統稱「本集團」）從事煤礦機械及汽車零部件製造兩

“Group”) are mainly engaged in manufacturing of coal mining machinery 大主業。

and auto parts.The condensed consolidated financial statements are presented in 除另有界定外，簡明綜合財務報表以人民幣（「人民Renminbi (“RMB”) unless otherwise stated. 幣」）呈列。

2. Basis of Preparation 2. 編製基準The condensed consolidated financial statements have been prepared in 簡明綜合財務資料乃根據國際會計準則委員會（「國accordance with International Accounting Standard 34 “Interim Financial 際會計準則委員會」）所發佈的國際會計準則第34號Reporting” issued by the International Accounting Standards Board (the 「中期財務報告」的規定編製，且符合香港聯合交易“IASB”) as well as the applicable disclosure requirements of the Rules 所有限公司證券上市規則適用披露的規定。

Governing the Listing of Securities on The Stock Exchange of Hong Kong

Limited.

3. Accounting Policies 3. 會計政策

The condensed consolidated financial statements have been prepared on 除若干金融工具乃按公平值計量之外，簡明綜合財the historical cost basis except for certain financial instruments which are 務報表已按歷史成本基準編製。

measured at fair values.Other than change in accounting policies resulting from application of 除應用經修訂國際財務報告準則會計準則導致會計

amendments to IFRS Accounting Standards the accounting policies and 政策變動外，截至2025年6月30日止六個月的簡明methods of computation used in the condensed consolidated financial 綜合財務報表所用的會計政策及計算方法與本集團

statements for the six months ended 30 June 2025 are the same as those 截至2024年12月31日止年度的年度綜合財務報表所

presented in the Group’s annual consolidated financial statements for the 呈列者相同。

year ended 31 December 2024.

42 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

3. Accounting Policies (Continued) 3. 會計政策（續）

Application of amendments to IFRS Accounting 應用國際財務報告準則會計準則修訂

Standards 本

In the current interim period the Group has applied the following 於本中期期間，為編製本集團簡明綜合財務報表，amendments to an IFRS Accounting Standard issued by the IASB for 本集團已首次應用以下由國際會計準則理事會頒佈

the first time which are mandatorily effective for the Group’s annual 的經修訂國際財務報告準則會計準則，該等準則於period beginning on 1 January 2025 for the preparation of the Group’s 2025年1月1日開始的本集團年度期間強制生效：

condensed consolidated financial statements:

Amendments to IAS 21 Lack of Exchangeability 國際會計準則第21號修訂本 缺乏可兌換性

The application of the amendments to an IFRS Accounting Standard in the 於本中期期間應用經修訂國際財務報告準則會訐準

current interim period has had no material impact on the Group’s financial 則對本集團於本期間及過往期間的財務狀況及表現

positions and performance for the current and prior periods and/or on the 及╱或載於該等簡明綜合財務報表的披露並無造成

disclosures set out in these condensed consolidated financial statements. 重大影響。

4. Revenue 4. 收入

Disaggregation of revenue 收入的細分

Six months ended 30 June 2025截至2025年6月30日止六個月

Manufacture

of coal mining Manufacture

machinery of auto parts Total製造製造煤礦機械汽車零部件總計

RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元

(unaudited) (unaudited) (unaudited)（未經審核）（未經審核）（未經審核）

Types of goods 貨品類型

Sales of auto parts 汽車零部件的銷售 – 9776125 9776125

Sales of hydraulic roof supports 液壓支架的銷售 6758703 – 6758703

Revenue from steel and other materials trading 鋼鐵及其他原料貿易的收入 1358268 23850 1382118

Sales of spare parts for coal mining machinery 煤礦機械配件的銷售 1448687 – 1448687

Sales of other coal mining equipment 其他採煤設備的銷售 491131 – 491131

Other revenue 其他收入 91913 32864 124777

10148702983283919981541

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 43Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

4. Revenue (Continued) 4. 收入（續）

Disaggregation of revenue (Continued) 收入的細分（續）

Six months ended 30 June 2024截至2024年6月30日止六個月

Manufacture

of coal mining Manufacture

machinery of auto parts Total製造製造煤礦機械汽車零部件總計

RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元

(unaudited) (unaudited) (unaudited)（未經審核）（未經審核）（未經審核）

Types of goods 貨品類型

Sales of auto parts 汽車零部件的銷售 – 9065242 9065242

Sales of hydraulic roof supports 液壓支架的銷售 6131889 – 6131889

Revenue from steel and other materials trading 鋼鐵及其他原料貿易的收入 1711068 33940 1745008

Sales of spare parts for coal mining machinery 煤礦機械配件的銷售 1403067 – 1403067

Sales of other coal mining equipment 其他採煤設備的銷售 485621 – 485621

Other revenue 其他收入 72646 49993 122639

9804291914917518953466

All revenues from contract with customers are recognised at a point in 客戶合同所得收益於某一時間點確認。

time.

5. Segment information 5. 分部資料

Information reported to the chief executive of the Company being the 就資源分配及分部表現評估向本公司最高行政人員

chief operating decision maker (“CODM”) for the purposes of resource （即「主要營運決策者」）報告的資料集中於提交或提

allocation and assessment of segment performance focuses on types 供的貨品或服務種類。具體而言，根據國際財務報of goods or services delivered or provided. Specifically the Group’s 告準則第8號，本集團的可呈報分部為(i)製造煤礦reportable segments under IFRS 8 are (i) manufacture of coal mining 機械；及(ii)製造汽車零部件。並無經營分部合併成machinery; and (ii) manufacture of auto parts. No operating segments have 為本集團可呈報分部。

been aggregated in arriving at the reportable segments of the Group.

44 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

5. Segment information (Continued) 5. 分部資料（續）

CODM primarily uses a measure of segment net profit to assess the 主要營運決策者主要使用分部淨利潤的計量評估經

performance of operating segments. 營分部表現。

The following is an analysis of the Group’s revenue and results by 本集團的收入及業績按可呈報及經營分部的分析如

reportable and operating segments. 下。

Manufacture

of coal mining Manufacture

machinery of auto parts Total製造製造煤礦機械汽車零部件總計

RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元

(unaudited) (unaudited) (unaudited)（未經審核）（未經審核）（未經審核）

Six months ended 30 June 2025 截至2025年6月30日止六個月

Segment revenue 分部收入 10148702 9832839 19981541

Segment net profit 分部淨利潤 2286069 295170 2581239

Six months ended 30 June 2024 截至2024年6月30日止六個月

Segment revenue 分部收入 9804291 9149175 18953466

Segment net profit 分部淨利潤 2171102 179749 2350851

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 45Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

5. Segment information (Continued) 5. 分部資料（續）

The following is an analysis of the Group’s assets and liabilities by 本集團的資產及負債按可呈報及經營分部的分析如

reportable and operating segments. The Group prepared the segment 下。本集團就總資產及總負債編製分部報告，不包reporting for total assets and liabilities excluding the impact of goodwill. 商譽的影響。該項目均與製造汽車零部件分部相The item is related to manufacture of auto parts segment. 關。

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

SEGMENT ASSETS 分部資產

Manufacture of coal mining machinery 製造煤礦機械 29717761 30363698

Manufacture of auto parts 製造汽車零部件 20000417 18564002

Total segment assets 總分部資產 49718178 48927700

Goodwill 商譽 88283 88283

Consolidated assets 綜合資產 49806461 49015983

SEGMENT LIABILITIES 分部負債

Manufacture of coal mining machinery 製造煤礦機械 16016234 15752519

Manufacture of auto parts 製造汽車零部件 11071711 10517755

Consolidated liabilities 綜合負債 27087945 26270274

Geographical information 地域資料

The analysis of revenue by geographical location of customers is as 收入按客戶地點的分析如下：

follows:

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

The PRC 中國 13681470 12385360

Germany 德國 2910546 2928030

Other countries 其他國家 3389525 3640076

1998154118953466

46 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

6. Other income 6. 其他收入

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Interest income on bank deposits long-term 銀行存款、長期應收款項及

receivables and finance lease receivables 融資租賃應收款項的利息收入 55719 116265

Government grants (Note) 政府補助（附註） 127748 104364

Gain from additional input value-added tax credit 額外進項增值稅抵免收益 56231 166271

239698386900

Note: Government grants mainly represent government grants received from the 附註： 政府補助主要指就補償所產生研發開支，或就本local government for compensation of research and development expenses 集團的新建廠房而自地方政府獲取的政府補助，incurred or in respect of construction of the Group’s new plant which are 在相關開支產生時或相關資產可使用年期內確認

recognized as other income when related expenses incurred or over the useful 為其他收入。

lives of the relevant assets.

7. Other gains and losses 7. 其他收益及虧損

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Fair value gain on financial assets at fair 以公平值計量且其變動計入損益的

value through profit or loss 金融資產的公平值收益 275164 116903

Net foreign exchange (loss) gain 外匯（虧損）收益淨額 (27846) 12935

Gain on disposal of property plant and equipment 出售物業、廠房及設備以及

and intangible assets 無形資產的收益 2144 120

Net fair value gain on derivative financial instruments 衍生金融工具公平值收益淨額 52376 6416

Impairment loss recognised in respect of 就於一間聯營公司的權益確認的

the interest in an associate 減值虧損 – (93315)

Others 其他 2849 2370

30468745429

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 47Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

8. Finance costs 8. 融資成本

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Interests on bank borrowings 銀行借貸利息 110951 117399

Interests on leases 租賃利息 15956 19425

126907136824

9. Income tax expense 9. 所得稅開支

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Current income tax 即期所得稅 430898 491368

Under provision in prior years 過往年度撥備不足 1319 34918

Deferred income tax – current period 遞延所得稅－本期間 24583 (40528)

456800485758

(a) PRC corporate income tax (a) 中國企業所得稅

The corporate income tax is calculated based on the statutory profit 企業所得稅是根據中國的稅收法律法規對於中

of subsidiaries incorporated in the PRC and the applicable tax rate in 國註冊成立的附屬公司的法定溢利按適用稅率

accordance with the PRC tax laws and regulations after adjustments 計算所得，當中經調整對於所得稅而言毋須評on certain income and expense items which are not assessable or 稅或不可扣稅的若干收支項目。

deductible for income tax purposes.In accordance with the PRC tax laws standard corporate income tax 根據中國稅法，標準企業所得稅率為25%。於rate is 25%. The Company and certain subsidiaries are qualified for 2025年及2024年中期期間，本公司及若干附屬High technology enterprises status and enjoyed preferential income 公司符合高技術企業資格，享受15%的優惠所tax rate of 15% during the interim period of 2025 and 2024. 得稅率。

48 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

9. Income tax expense (Continued) 9. 所得稅開支（續）

(b) Germany profits tax (b) 德國利得稅

Applicable profit tax rate of Germany is 29% (2024: 29%). During 德國適用的利得稅率為29%（2024年：29%）。

the interim period of 2025 no profit tax has been provided due to no 於2025年中期期間，由於並無應課稅溢利，故assessable profit (2024: Nil). 並無計提利得稅撥備（2024年：無）。

(c) Others (c) 其他

Applicable profit tax rates of the Group’s other subsidiaries are 於2025年上半年，本集團其他附屬公司適用的between 9% and 34.01% for the first half of 2025 (2024: between 利得稅率介乎9%至34.01%之間（2024年：介乎

9% to 34.01%). 9%至34.01%之間）。

(d) Pillar Two Rules (d) 支柱二規則The Group is subject to the global minimum top-up tax Global Anti- 本集團須遵守全球反稅基侵蝕規則（「支柱二規base Erosion Rules (“Pillar Two Rules”). Pillar Two Rules has become 則」）全球最低補足稅。支柱二規則已在本公司effective in Hong Kong in which the Company’s subsidiary namely 附屬公司香港聖吉國際有限公司「香港聖吉」）

Hong Kong SMG International Co. Limited (“SMG”) is incorporated. 的註冊成立地香港生效。補足稅與索恩格汽車The top-up tax relates to operation of SEG Automotive Products (China) 部件（中國）有限公司（香港聖吉的間接持有附Co. Ltd. (an indirectly held subsidiary of SMG) where the annual 屬公司）的營運有關，於中國的年度全球實際globe effective tax rate in China is estimated to be slightly below 稅率預計將略低於15%。本集團已根據徵收條

15%. The Group has assessed top-up tax which is expected to be 文評估預期將向香港聖吉徵收的經評估補足

levied on SMG according to the charging provisions and using the tax 稅，並根據預計的經調整涵蓋稅項及年度全球rate based on the estimated adjusted covered taxes and net globe 淨收入使用該稅率進行計算，認為對本集團當income for the year and considered the impact for the current period is 期的影響極微。

minimal to the Group.The Group has applied the temporary mandatory exception for 本集團已就補足稅的影響確認及披露遞延稅項

recognising and disclosing deferred tax assets and liabilities for the 資產及負債的臨時強制性例外情況，並會於其impacts of the top-up tax and accounts for it as a current tax when it is 發生時將其作為即期稅項入賬。

incurred.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 49Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

10. Profit for the period 10. 期內溢利

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Depreciation of property plant and equipment 物業、廠房及設備折舊 423625 406553

Depreciation of right-of-use assets 使用權資產折舊 85345 75261

Depreciation of investment properties 投資物業折舊 8398 5473

Amortisation of intangible assets 無形資產攤銷 114887 114718

Total depreciation and amortisation 折舊及攤銷總額 632255 602005

Capitalised in inventories 存貨資本化 (478245) (415674)

154010186331

Employee benefits expenses (including directors): 僱員福利開支（包括董事）：

– Salaries and other benefits －薪金及其他福利 1804082 1781178

– Share base payment －以股份為基礎的付款 – 10260

– Retirement benefit scheme contributions －退休福利計劃供款 106880 86312

Total employee benefits expenses 僱員福利開支總額 1910962 1877750

Capitalised in inventories 存貨資本化 (1014521) (1024119)

896441853631

(Reversal) provide of inventory provision （撥回）計提存貨撥備 (5364) 1706

Impairment losses of intangible assets included in 計入研發開支的無形資產減損虧損

research and development expenses – 26256

Cost of inventories recognised as an expense 確認為開支的存貨成本 15230226 14358819

50 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

11. Dividends 11. 股息

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Dividends recognised as distribution during the period 期內確認為分派的股息

– 2024 Final (RMB1.12 per share) －2024年末期（每股人民幣1.12元） 1955833 –

– 2023 Final (RMB0.84 per share) －2023年末期（每股人民幣0.84元） – 1499852

19558331499852

During the current interim period in respect of the year ended 於本中期期間，就截至二零二四年十二月三十一

31 December 2024 RMB1.12 per share and totally amount to 日止年度宣派末期股息每股人民幣1.12元，合共人RMB1955833000 of the final dividend was declared (the six months 民幣1955833000元（截至二零二四年六月三十日ended 30 June 2024: in respect of the year ended 31 December 2023 止六個月：就截至二零二三年十二月三十一日止

RMB0.84 per share and totally amount to RMB1499852000 of the final 年度宣派末期股息每股人民幣0.84元，合共人民幣dividend was declared). The directors of the Company have determined 1499852000元）。本公司董事確定不會就截至2025that no dividend will be paid in respect of the six months ended 30 June 年6月30日止六個月派付股息（截至2024年6月30日

2025 (the six months ended 30 June 2024: Nil). 止六個月：無）。

12. Earnings per share 12. 每股盈利

(a) Basic earnings per share (a) 每股基本盈利

The calculation of basic earnings per share attributable to owners of 本公司股東應佔的每股基本盈利按以下數據計

the Company is based on the following data: 算：

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

(unaudited) (unaudited)（未經審核）（未經審核）

Earnings for the purpose of basic earnings per 計算每股基本盈利的盈利

share (profit for the period attributable to （本公司股東應佔期內溢利）

owners of the Company) (RMB’000) （人民幣千元） 2527446 2174797

Weighted average number of ordinary shares for 計算每股基本盈利的普通股

the purpose of basic earnings per share 加權平均數 1762442635 1773802138

Basic earnings per share (RMB) 每股基本盈利（人民幣） 1.43 1.23

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 51Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

12. Earnings per share (Continued) 12. 每股盈利（續）

(b) Diluted earnings per share (b) 每股攤薄盈利

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

(unaudited) (unaudited)（未經審核）（未經審核）

Earnings: 盈利：

Profit attributable to the ordinary equity holders 計算每股攤薄盈利所用本公司

of the Company used in the diluted earnings 普通股權益持有人應佔溢利

per share calculation (RMB’000) （人民幣千元） 2527446 2174797

Number of shares: 股份數目：

Weighted average number of ordinary shares 計算期內每股已發行普通股的

in issue during the period per share calculation 加權平均數 1762442635 1773802138

Add: share options 加：購股權 – 660279

restricted share incentive 限制性股票激勵 – 7546047

Weighted average number of ordinary shares 於計算每股攤薄盈利時

in issue and potential ordinary shares used 用作分母的已發行及

as the denominator in calculating diluted 潛在普通股加權平均數

earnings per share 1762442635 1782008464

Diluted earnings per share (RMB) 每股攤薄盈利（人民幣） 1.43 1.22

No adjustment has been made to the basic earnings per share 由於本集團於截至2025年6月30日止六個月內

amount presented for the six months ended 30 June 2025 as the 並無發行任何具有稀釋性的潛在普通股，因此Group had no dilutive potential ordinary shares in issue during this 並無對本期間呈列的每股基本盈利金額作出任

period. Diluted earnings per share for six months ended 30 June 何調整。截至2024年6月30日止六個月，每股

2024 is calculated by adjusting the weighted average number of 攤薄盈利透過調整已發行普通股加權平均數以

ordinary shares outstanding to assume conversion of all dilutive 假設所有具潛在攤薄影響的普通股已轉換進行

potential ordinary shares. 計算。

52 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

13. Property plant and equipment 13. 物業、廠房及設備

During the current interim period the Group had acquired property 於本中期期間，本集團就擴展本集團業務及擴大產plant and equipment (including capital expenditure for construction in 能收購人民幣795890000元（截至2024年6月30日止progress) of RMB795890000 (the six months ended 30 June 2024: 六個月：人民幣798457000元）的物業、廠房及設

RMB798457000) for expansion of business and production capacity 備。期內並無就物業、廠房及設備計提減值虧損撥of the Group. No impairment loss for property plant and equipment was 備。

provided during the period.During the current interim period the Group disposed of certain plant 於本中期期間，本集團出售總賬面值人民幣and machinery with an aggregate carrying amount of RMB56240000 56240000元（截至2024年6月30日止六個月：人民(six months ended 30 June 2024: RMB14749000) for cash proceeds 幣14749000元）的若干物業、廠房及設備，現金所of RMB58384000 (six months ended 30 June 2024: RMB14869000) 得款項為人民幣58384000元（截至2024年6月30日resulting in a gain on disposal of RMB2144000 (six months ended 30 止六個月：人民幣14869000元），產生出售收益人June 2024: RMB120000). 民幣2144000元（截至2024年6月30日止六個月：人民幣120000元）。

14. Intangible assets 14. 無形資產

During the current interim period the Group had acquired intangible 於本中期期間，本集團收購無形資產人民幣assets of RMB137205000 (the six months ended 30 June 2024: 137205000元（截至2024年6月30日止六個月：人民RMB69807000). 幣69807000元）。

15. Financial assets at fair value through profit or 15. 以公平值計量且其變動計入損益的金

loss/Equity instruments at FVTOCI/Financial 融資產╱以公平值計量且其變動計入

assets at FVTOCI/Derivative financial instruments 其他全面收益的股本工具╱以公平值計量且其變動計入其他全面收益的金

融資產╱衍生金融工具

Equity instruments at FVTOCI 以公平值計量且其變動計入其他全面收益的股本工具

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Unlisted equity securities (Note) 非上市股本證券（附註） 719334 419334

Note: In April 2025 the Group acquired 2.25% shareholdings of a third party with 附註： 於2025年4月，本集團收購第三方2.25%股權，代價a consideration of RMB300000000. And the Company have elected to 為人民幣300000000元。由於該權益工具乃為長期designate the investment in equity instrument as at FVTOCI as the equity 策略目的而持有，故本公司選擇將該權益工具投instrument is held for long-term strategic purpose. 資指定為以公平值計量且其變動計入其他全面收益。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 53Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

15. Financial assets at fair value through profit or 15. 以公平值計量且其變動計入損益的金

loss/Equity instruments at FVTOCI/Financial 融資產╱以公平值計量且其變動計入

assets at FVTOCI/Derivative financial instruments 其他全面收益的股本工具╱以公平值

(Continued) 計量且其變動計入其他全面收益的金

融資產╱衍生金融工具（續）

Financial assets at FVTOCI 以公平值計量且其變動計入其他全面收益的金融資產

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Notes receivable (Note a) 應收票據（附註a） 1978939 2502853

Financial assets at fair value through profit or loss 以公平值計量且其變動計入損益的金融資產

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Non-current assets 非流動資產

Unlisted equity securities 非上市股本證券 7050 7050

Current assets 流動資產

Other financial assets (Note b) 其他金融資產（附註b） 5881950 5454739

Certificate of deposits 存款證 342536 361344

Equity securities listed in A-shares 於A股上市的股本證券 6075 4183

Unlisted equity securities 非上市股本證券 1296 1296

62318575821562

54 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

15. Financial assets at fair value through profit or 15. 以公平值計量且其變動計入損益的金

loss/Equity instruments at FVTOCI/Financial 融資產╱以公平值計量且其變動計入

assets at FVTOCI/Derivative financial instruments 其他全面收益的股本工具╱以公平值

(Continued) 計量且其變動計入其他全面收益的金

融資產╱衍生金融工具（續）

Financial assets at fair value through profit or loss 以公平值計量且其變動計入損益的金

(Continued) 融資產（續）

Notes: 附註：

(a) The Group recorded the notes receivable as financial assets at FVTOCI due (a) 由於本集團擬持有應收票據至到期或背書或貼現，to the Group’s intention to either holding note receivables to maturity or 故本集團將應收票據作為按以公平值計量且其變動

endorsing or discounting. All bills received by the Group are with a maturity 計入其他全面收益計量的金融資產。本集團收到的period of less than one year. 票據均有一年以內之到期期限。

(b) As at 30 June 2025 and 31 December 2024 the other financial assets were (b) 於2025年6月30日及2024年12月31日，其他金融資產as following: 如下：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Assets management products (i) 資產管理產品(i) 5450432 5204015

Principal non-guaranteed financial products 非保本金融類產品 431518 250724

58819505454739

(i) As at 30 June 2025 the Group held some assets management products (i) 於2025年6月30日，本集團持有部分資產管理產amounting to RMB5450432000. The assets management products 品人民幣5450432000元。該等資產管理產品are the combination of different investment portfolios and are managed 由不同投資組合共同組成，並由本集團委託的by the financial institutions entrusted by the Group. The fair value of 金融機構管理。資產管理產品的公平值乃根據the assets management products are assessed based on the fair value 相關投資組合的公平值變動評估。於截至2025changes of underlying investment portfolios. During the six month ended 年6月30日止六個月，本集團就按公平值計量

30 June 2025 the Group recognised fair value gain on financial assets 且其變動計入損益的金融資產確認公平值收益

at fair value through profit or loss amounting to RMB217693000. 淨額人民幣217693000元，主要與資產管理產which were mainly related to assets management products (Note 7). 品有關（附註7）。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 55Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

15. Financial assets at fair value through profit or 15. 以公平值計量且其變動計入損益的金

loss/Equity instruments at FVTOCI/Financial 融資產╱以公平值計量且其變動計入

assets at FVTOCI/Derivative financial instruments 其他全面收益的股本工具╱以公平值

(Continued) 計量且其變動計入其他全面收益的金

融資產╱衍生金融工具（續）

Derivative financial instruments 衍生金融工具

Derivatives are mainly used for economic hedging purposes. When 衍生工具主要用於經濟對沖目的。倘衍生工具不derivatives do not meet the hedging accounting criteria they are classified 符合對沖會計標準，將就會計處理目的分類為「持as ‘held for trading’ for accounting purposes and are accounted for at 作買賣」，並入賬為以公平值計量且其變動計入損fair value through profit or loss. The Group has the following derivative 益。本集團擁有下列衍生金融工具：

financial instruments:

Derivative financial assets 衍生金融資產

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Designated as hedging instruments 指定為對沖工具

Foreign exchange hedges 外匯對沖 5063 1616

Not designated as hedging instruments 不指定為對沖工具 35677 34770

4074036386

Derivative financial liabilities 衍生金融負債

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Designated as hedging instruments 指定為對沖工具

Foreign exchange hedges 外匯對沖 4 5017

Not designated as hedging instruments 不指定為對沖工具 56552 79541

5655684558

56 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

16. Deferred income tax assets/liabilities 16. 遞延所得稅資產╱負債

The following are the major deferred income tax assets/liabilities 所確認的主要遞延所得稅資產╱債及其變動如下：

recognised and movements thereon:

Revaluation of Revaluation of

Property prepaid lease Revaluation property plant

plant and payments of intangible and equipment

equipment Intangible arising from assets arising arising from

Write-down Accruals and Unrealised tax assets tax business from business business Revaluation

ECL provision of inventory provision profit difference difference combination combination combination on FVTOCI Others Total以公平值計量且因業務合併因業務合併因業務合併其變動

物業、廠房而產生的而產生的而產生的計入其他

預期信貸應計開支未變現及設備無形資產預付租賃無形資產物業、廠房全面收益虧損撥備存貨撇銷及撥備利潤稅項差異稅項差異付款重估重估及設備重估之重估其他總計

RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元

At 31 December 2023 (audited) 於2023年12月31日（經審核）1030693139420274089581(129621)83(12759)(61721)(27435)(4709)39582230204

Credit/(charge) to profit or loss 於損益計入╱（扣除） 22149 (2865) 38103 (22822) (12666) (11) 291 11519 3027 – 3803 40528

Exchange adjustment 匯兌調整 (1055) (129) (2315) – (184) (2) – 862 222 – 1894 (707)

At 30 June 2024 (unaudited) 於2024年6月30日（未經審核）1241632840023852866759(142471)70(12468)(49340)(24186)(4709)45279270025

Revaluation Revaluation of

of prepaid property

Property lease Revaluation plant and

plant and payments of intangible equipment

equipment Intangible arising from assets arising arising from

ECL Write-down Accruals Unrealised tax assets tax business from business business Revaluation

provision of inventory and provision profit difference difference combination combination combination on FVTOCI Others Total以公平值計量且因業務合併因業務合併因業務合併其變動

物業、廠房而產生的而產生的而產生的計入其他

預期信貸應計開支未變現及設備無形資產預付租賃無形資產物業、廠房全面收益虧損撥備存貨撇銷及撥備利潤稅項差異稅項差異付款重估重估及設備重估之重估其他總計

RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元

At 31 December 2024 (audited) 於2024年12月31日（經審核）1393332524916866379321(157021)61(12208)(44480)(22223)(7503)91451260643

Credit/(charge) to profit or loss 於損益計入╱（扣除） 31760 (6218) (20960) (34539) (12941) (10) 267 6774 3001 – 8283 (24583)

Exchange adjustment 匯兌調整 825 889 8978 – 732 7 – (3196) (456) – 1781 9560

At 30 June 2025 (unaudited) 於2025年6月30日（未經審核）1719181992015668144782(169230)58(11941)(40902)(19678)(7503)101515245620

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 57Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

16. Deferred income tax assets/liabilities (Continued) 16. 遞延所得稅資產╱負債（續）

The net balances of deferred income tax assets and liabilities after 遞延所得稅資產及負債互相抵銷後的結餘淨額如

offsetting are as follows: 下：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Deferred income tax assets net 遞延所得稅資產淨值 354167 372486

Deferred income tax liabilities net 遞延所得稅負債淨額 (108547) (111843)

245620260643

At the end of the reporting period the Group had the following 於報告期末，本集團有下列未確認的未動用稅項虧unrecognised unused tax losses: 損：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Unused tax losses 未動用稅項虧損 7060187 6273449

58 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

16. Deferred income tax assets/liabilities (Continued) 16. 遞延所得稅資產╱負債（續）

At the end of the currents interim period the Group has unused tax 於本中期期末，本集團有未動用稅項虧損人losses of RMB7241960000 (31 December 2024: RMB6433610000) 民幣 7241960000元（ 2024年 12月 31日：人民幣available for offsetting against future profits. Among these unused 6433610000元）可用作抵銷未來溢利。於該等未tax losses a deferred tax asset of RMB27266000 (31 December 動用稅項虧損中，人民幣27266000元（2024年12

2024: RMB24024000) has been recognized from unused tax loss of 月31日：人民幣24024000元）的未動用稅項虧損RMB181773000 (31 December 2024: RMB160161000). No deferred 已確認遞延稅項資產人民幣181773000元（2024年tax asset has been recognised in respect of the remaining unused tax loss 12月31日：人民幣160161000元）。由於無法預of RMB7060187000 (31 December 2024: RMB6273449000) due to 測未來溢利來源，故並無就餘下未動用稅項虧損the unpredictability of future profit streams. The expiry dates of the above 人民幣7060187000元（2024年12月31日：人民幣unrecognized tax losses are as follows: 6273449000元）確認遞延稅項資產。上述未確認稅項虧損的屆滿日期如下：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

31 December 2025 2025年12月31日 1357 1747

31 December 2026 2026年12月31日 3548 3548

31 December 2027 2027年12月31日 8489 86605

31 December 2028 2028年12月31日 70858 244302

31 December 2029 2029年12月31日 47744 283281

31 December 2030 2030年12月31日 24038 –

31 December 2032 2032年12月31日 71449 –

31 December 2033 2033年12月31日 172712 –

31 December 2034 2034年12月31日 235537 –

31 December 2035 2035年12月31日 105355 –

No expiry date 無屆滿日期 6319100 5653966

70601876273449

At the end of the reporting period the Group has deductible temporary 於報告期末，本集團的可抵扣暫時性差異為人民幣differences of RMB415107000 (31 December 2024: RMB464652000) 415107000元（2024年12月31日：人民幣464652000in relation to which no tax asset has been recognised as it is not probable 元），由於不大可能有應課稅溢利可用作抵扣可抵that taxable profit will be available against which the deductible temporary 扣暫時性差異，故並無確認相關稅項資產。

differences can be utilised.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 59Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

17. Trade and other receivables contract assets 17. 貿易及其他應收款項、合同資產

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Financial assets 金融資產

Trade receivables 貿易應收款項 12042256 9656275

Less: loss allowance 減：虧損撥備 (833506) (664267)

112087508992008

Deposits 訂金 163231 145899

Financial asset receivables (Note a) 金融資產應收款項（附註a） – 102163

Receivable from disposal of investment 出售投資應收款項 65519 65519

Staff advances 僱員墊款 30786 57743

Tax expense to be collected from customers 應向客戶收取的稅項支出 127169 522959

Others 其他 199215 130756

Less: loss allowance 減：虧損撥備 (97759) (102794)

488161922245

116969119914253

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Non-financial assets 非金融資產

Contract assets (Note b) 合同資產（附註b） 1203576 886436

Less: loss allowance of contract assets 減：合同資產虧損撥備 (34709) (25315)

1168867861121

Prepayments to suppliers 向供應商預付款項 761109 661460

Other tax recoverable 其他可收回稅項 620468 483712

25504442006293

Total trade and other receivables 貿易及其他應收款項合計 14247355 11920546

60 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

17. Trade and other receivables contract assets 17. 貿易及其他應收款項、合同資產（續）

(Continued)

The following is the ageing analysis of trade receivables net of loss 以下為各報告期末按收入確認日期呈列的貿易應收

allowance presented based on the revenue recognition date at the end of 款項扣除虧損撥備後的賬齡分析：

each reporting period:

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Within 180 days 180天內 9187461 7121402

Over 180 days but within 1 year 超過180天但1年內 987762 1126972

Over 1 year but within 2 years 超過1年但2年內 948273 594099

Over 2 years but within 3 years 超過2年但3年內 85254 149535

112087508992008The Group normally grants a credit period of 30 days to 180 days (31 本集團通常給予客戶30天至180天（2024年12月31December 2024: 30 days to 180 days) to customers effective from the 日：30天至180天）的信貸期，自收入確認日期起生revenue recognition date. As at 30 June 2025 included in the Group’s 效。於2025年6月30日，計入本集團貿易應收賬款trade receivables balance are debtors with aggregate gross amount of 結餘的應收賬款總額為人民幣2345237000元（2024RMB2345237000 (31 December 2024: RMB1782820000) which 年12月31日：人民幣1782820000元），該等應收賬are past due as at the reporting date and assessed collectively based on 款於報告日期已逾期，並根據撥備矩陣進行整體評provision matrix. 估。

Notes: 附註：

a. As at 31 December 2024 the Group held financial asset receivables a. 於2024年12月31日，本集團向一家第三方證券行持amounting to RMB102 million from a third party securities company. The 有合共人民幣102百萬元。於2025年3月到期收取的estimated annual yield rate is 2.85% of the financial asset receivables which 金融資產應收款項，其年度孳息率估計為2.85%。

were due in March 2025.b. Under Manufacture of coal mining machinery segment nearly 10% percent b. 於煤機製造板塊，由於與客戶簽訂的合同中有保修of the contracted amounts was retained due to the warranty provision in the 條款，因此近10%的合同金額獲保留。管理層將保留contracts with customers. The management disclose the retention fee as 費用披露為合同資產。若於商定期限（通常為1年）內contract asset. The Company will receive the retention fee if no major quality 未發生重大品質問題，本公司將收取保留費用。

issues happen during agreed period (normally 1 year).As of 30 June 2025 the balance of retention fee net of loss allowance is 截至2025年6月30日，扣除虧損撥備後的保留費用餘RMB1168867000 (As of 31 December 2024: RMB861121000) all 額為人民幣1168867000元（2024年12月31日：人民expected to be received in one year. The management expect no major quality 幣861121000元），預期將於一年內全部收妥。管理issue for all the products. 層預期所有產品均不會有重大質量問題。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 61Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

18. Cash and cash equivalents/bank deposits 18. 現金及現金等價物╱銀行存款

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Cash and cash equivalents 現金及現金等值物

Cash 現金 138 166

Bank deposits with original maturity within 原到期日為三個月或以下的

three months or less 銀行存款 2804020 2987419

Cash and cash equivalents 現金及現金等價物 2804158 2987585

Bank deposits current 銀行存款，流動Pledged bank deposits (Note) 已抵押銀行存款（附註） 815404 1026112

Bank deposits with original maturity over three months 原到期日為三個月以上的銀行存款 827361 904913

Restricted cash 受限制現金 3952 3540

16467171934565

Bank deposits non-current 銀行存款，非流動Bank deposits with original maturity over one year 原到期日為一年以上的銀行存款 601158 980022

Note: Pledged bank deposits represent deposits pledged to banks to secure bank 附註： 已抵押銀行存款為抵押予銀行以獲取銀行承兌匯

acceptance bills and letters of guarantee and are therefore classified as 票及保函的保證金，因此被分類為流動資產。已current assets. The pledged bank deposits carry interest at market rates 抵押銀行存款按市場利率計息，於2025年6月30which ranged from 0.0500% to 2.7500% per annum as at 30 June 2025 (31 日，年利率介乎0.0500%至2.7500%（2024年12月31December 2024: 0.1000% to 2.7500% per annum). 日：年利率0.1000%至2.7500%）。

62 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

19. Trade and other payables 19. 貿易及其他應付款項

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Notes payable 應付票據 3768615 3029775

Trade payables (Note a) 貿易應付款項（附註a） 7839295 8274732

1160791011304507

Salary and bonus payables 應付薪金與獎金 523315 627274

Deposits (Note b) 訂金（附註b） 170457 132918

Interests payable 應付利息 9401 28546

Factoring payable 保理應付款項 51978 47803

Other taxes payable 其他應付稅項 495989 706758

Dividend payable 應付股利 1955833 –

Restrictive shares payable (Note 23) 應付限制性股票（附註23） 277549 –

Accruals 預提款項 492392 503075

Other payables (Note c) 其他應付款項（附註c） 612413 581329

45893272627703

Total trade and other payables 貿易及其他應付款項總額 16197237 13932210

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 63Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

19. Trade and other payables (Continued) 19. 貿易及其他應付款項（續）

Notes: 附註：

(a) The following is the ageing analysis of trade payables presented based on (a) 以下為於各報告期末按發票日期呈列的貿易應付款

invoice date at the end of each reporting period: 項賬齡分析：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Within 1 year 1年內 7367511 7946772

Over 1 year 超過1年 471784 327960

78392958274732

(b) Deposits represent the deposits received from suppliers for transportation and (b) 訂金指從供應商所收到運輸及其他服務的訂金。

other services.(c) Other payables mainly consist of payables for the acquisition of property plant (c) 其他應付款項主要包括用於收購物業、廠房及設備

and equipment rental payables and payables for other services. 的應付款項、應付租金及其他服務的應付款項。

64 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

20. Borrowings 20. 借貸

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Non-current: 非即期：

– Bank borrowings – secured －銀行借貸－有抵押 69759 1284372

– Bank borrowings – unsecured －銀行借貸－無抵押 3892382 3366597

Less: current portion of non-current borrowings 減：非即期借貸的即期部分 (1847172) (2019554)

21149692631415

Current: 即期：

– Bank borrowings – secured －銀行借貸－有抵押 69759 422491

– Bank borrowings – unsecured －銀行借貸－無抵押 1585422 962187

Add: current portion of non-current borrowings 加：非即期借貸的即期部分 1847172 2019554

35023533404232

Total borrowings 借貸總額 5617322 6035647

Secured (Note a) 有抵押（附註a） 139518 1706863

Unsecured 無抵押 5477804 4328784

56173226035647

Fixed-rate borrowings 定息借貸 1361045 962187

Variable-rate borrowings 浮息借貸 4256277 5073460

56173226035647

Notes: 附註：

a) As at 30 June 2025 the balance of bank borrowings amounting to a) 於 2025年 6月 30日，銀行借貸結餘合共人民幣RMB139518000 (31 December 2024: RMB1706863000) were secured 139518000元（2024年12月31日：人民幣1706863000by the pledge of the land use rights property plant and equipment and other 元）由土地使用權以、物業、廠房及設備及其他資產

assets. 質押作抵押。

b) In respect of bank loans with carrying amount of RMB3830144000 as b) 就於2025年6月30日賬面金額為人民幣3830144000

at 30 June 2025 (31 December 2024: RMB5186838000) the Group is 元（2024年12月31日：人民幣5186838000元）的銀行

required to comply with certain financial covenants relating to mainly limits 貸款而言，本集團須遵守若干財務契約，主要與資for asset-liability ratio and conditions for further financing activities. The Group 產負債率限制及進一步融資活動的條件有關。本集has complied with these covenants so far and expects no breach before 團到目前為止已遵守該等契約，並預期在到期前不maturity. 會出現違約情況。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 65Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

20. Borrowings (Continued) 20. 借貸（續）

The carrying amounts of the Group’s borrowings are denominated in the 本集團借貸的賬面值以下列貨幣計值：

following currencies:

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

RMB 人民幣 4064769 4493602

Euro 歐元 1552553 1542045

56173226035647

The ranges of effective interest rates (which are also equal to contracted 本集團借貸的實際利率（亦相等於合同利率）範圍如

interest rates) on the Group’s borrowings are as follows: 下：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Effective interest rate per annum 實際年利率

Fixed-rate borrowings 定息借貸 1.05%~3.70% 1.05%~3.80%

Variable-rate borrowings 浮息借貸 1.85%~5.41% 1.85%~5.61%

66 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

21. Provisions 21. 撥備

The group provision mainly included warranty provision and onerous 本集團的撥備主要包括保修撥備及嚴苛合同撥備。

contract provision. The warranty provision which represents management’s 保修撥備指管理層根據過往與有問題產品申索相關

best estimate of the Group’s liability under warranty periods granted to 的經驗，對本集團就向購買煤礦機械及汽車零部件customers (who purchased coal mining machinery and auto parts) based 的客戶所授予保修期內負債的最佳估計。嚴苛合同on prior experience relating to defective products claims. Onerous contract 撥備指管理層根據有關合同的預測表現，對預期合provision represents management’s best estimate of the expected contract 同虧損的最佳估計。

loss based on the forecast performance relating to the contract.During the current interim period the Group accrued RMB88605000 for 於本中期期間，本集團累計作出人民幣88605000warranty provision and onerous contract provision (six months ended 30 元（截至 2024年 6月 30日止六個月：人民幣June 2024: RMB86417000). 86417000元）的保修撥備及嚴苛合同撥備。

22. Share capital 22. 股本

Listed A Shares Listed H Shares Total

上市A股 上市H股 總計

Number of Number of Number of

shares Amount shares Amount shares Amount股份數目金額股份數目金額股份數目金額

’000 RMB’000 ’000 RMB’000 ’000 RMB’000千股人民幣千元千股人民幣千元千股人民幣千元

Authorised issued and fully paid 法定、已發行及繳足

At 1 January 2025 (audited) and 於2025年1月1日（經審核）及

30 June 2025 (unaudited) 2025年6月30日（未經審核）

– Ordinary shares of RMB1 each －每股人民幣1元普通股 1542166 1542166 243234 243234 1785400 1785400

Listed A Shares Listed H Shares Total

上市A股 上市H股 總計

Number of Number of Number of

shares Amount shares Amount shares Amount股份數目金額股份數目金額股份數目金額

’000 RMB’000 ’000 RMB’000 ’000 RMB’000千股人民幣千元千股人民幣千元千股人民幣千元

Authorised issued and fully paid 法定、已發行及繳足

At 1 January 2024 (audited) 於2024年1月1日（經審核）

– Ordinary shares of RMB1 each －每股人民幣1元普通股 1538175 1538175 243234 243234 1781409 1781409

Exercise of share options (Note 23) 行使購股權（附註23） 4129 4129 – – 4129 4129

At 30 June 2024 (unaudited) 於2024年6月30日（未經審核）

– Ordinary shares of RMB1 each －每股人民幣1元普通股 1542304 1542304 243234 243234 1785538 1785538

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 67Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

22. Share capital (Continued) 22. 股本（續）

During the six months ended 30 June 2025 the Company repurchased 截至2025年6月30日止六個月期間，本公司透過上39120130 (six months ended 30 June 2024: Nil) of its own ordinary 海證券交易所回購39120130股（截至2024年6月30shares through the Shanghai Stock Exchange with an aggregate 日止六個月：無）本公司普通股，共支付代價人民consideration of RMB600001670 (six months ended 30 June 2024: Nil) 幣600001670元（截至2024年6月30日止六個月：paid. 無）。

The above ordinary shares were repurchased to be used under the 上述普通股已回購，用於限制性股票激勵計劃。

restricted share incentive scheme.

23. Share-based payments 23. 以股份為基礎的付款

Employee option plan 僱員購股權計劃The establishment of The A Share Option Incentive Scheme (“2019 股東於2019年10月21日舉行的2019年第二次臨時股Option Inventive Scheme”) was approved by shareholders at The Second 東大會、2019年第一次A股類別股東大會及2019年Extraordinary General Meeting of 2019 The First A Shareholders Class 第一次H股類別股東大會上批准設立A股股票期權

Meeting of 2019 and The First H Shareholders Class Meeting of 2019 激勵計劃（「2019年股票期權激勵計劃」）。根據股票held on 21 October 2019. In accordance with the Share Option Incentive 期權激勵計劃，本公司會向合資格激勵對象授予多Scheme the Company granted a number of options to the qualified 項期權以購買本公司A股股票。根據該計劃，授予participants to purchase A Shares of the Company. Under the plan 激勵對象的期權僅在符合若干表現標準時，方會歸participants were granted options which only vest if certain performance 屬。有關該計劃的參與由董事會酌情決定，且概無standards are met. Participation in the plan is at the board’s discretion and 任何個人擁有合同權力以參與該計劃或收取任何擔

no individual has a contractual right to participate in the plan or to receive 保利益。

any guaranteed benefits.The amount of options that vest depends on the performance of the 歸屬的期權數額取決於本公司及個人參與者的表現

Company and the individual participant. Once vested the options remain 而定。一經歸屬，有關期權於12個月期間內可予行exercisable for a period of 12 months. 使。

All expense related to 2019 Option Inventive Scheme was booked before 與2019年股票期權激勵計劃相關的所有費用均

the end of year 2023. During the year of 2024 4332960 shares were 已在2023年底前入帳。截至2024年止年度，已有exercised under the 2019 Option Inventive Scheme. The closing price of 4332960股股份根據2019年股票期權激勵計劃獲行

the Company’s shares immediately before the date on which the options 使。本公司股份於緊接期權獲行使之日前的收市價were exercised was RMB12.51 and 12.71 respectively. All exercisable 分別為人民幣12.51元及人民幣12.71元。所有可行shares were exercised before the end of 2024. 權股份已於2024年底前行權。

68 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

23. Share-based payments (Continued) 23. 以股份為基礎的付款（續）

Restricted share incentive scheme 限制性股票激勵計劃

2021 Restricted share incentive scheme 2021年限制性股票激勵計劃

On 4 June 2021 the Group’s Annual General Meeting adopted a restricted 於2021年6月4日，本集團股東周年大會採納一項share incentive scheme (the “2021 Scheme”). On 7 June 2021 a total 限制性股票激勵計劃（「2021年計劃」）。2021年6月7of 42300000 A-shares were granted to 186 selected employees 日，公司向186名選定員工（包括董事）以每股人民(including directors) at RMB5.88 per share with total cash proceeds of 幣5.88元的價格授予總計42300000股A股，總現金RMB248724000 recorded as trade and other payables. 所得款項人民幣248724000元記錄為貿易及其他應付款項。

The Validity Period of the 2021 Scheme is no more than 48 months from 2021年計劃有效期為自限制性股票授予登記完成之

the date of the completion of the grant registration of the restricted shares 日起至激勵對象獲授的限制性股票全部解除限售或

to the date when all the restricted shares granted to the Participants are 回購註銷之日止，不超過48個月。

unlocked or repurchased and cancelled.The lock-up period began on the grant date with unlocking scheduled in 限售期自授予日起開始，依公司層級及個人績效表three tranches in 2022 2023 and 2024 subject to annual performance 現狀況，分三期於2022年、2023年、2024年解鎖。

evaluations based on both company-level and individual performance

conditions.Shares are released upon satisfaction of unlocking conditions. Forfeited 解除限售條件滿足後，股份予以解除限售。沒收的shares are repurchased and cancelled by the Company. Repurchase 股份由公司回購並註銷。已歸屬股份的回購負債於liabilities for vested shares were derecognized upon each unlocking date. 每個解除限售日終止確認。

The arrangements of Unlocking Period under the grant of restricted shares 2021年計劃授予限制性股票的解除限售期及各報告

and unlocking duration for each reporting period pursuant to the 2021 期間解除限售時間安排如下表所示：

Scheme are set out in the table below:

Arrangement of Unlocking

Unlocking Period Unlocking duration percentage解除限售期安排解除限售時間解除限售比例

First Unlocking Period Commencing from the first trading day upon the expiry of 12 months from the Date of 40%

Grant to the last trading day upon the expiry of 24 months from the Date of Grant

第一次解除限售期自授予日起12個月後的首個交易日起至授予日起24個月內的最後一個交易日當日止

Second Unlocking Period Commencing from the first trading day upon the expiry of 24 months from the Date of 30%

Grant to the last trading day upon the expiry of 36 months from the Date of Grant

第二次解除限售期自授予日起24個月後的首個交易日起至授予日起36個月內的最後一個交易日當日止

Third Unlocking Period Commencing from the first trading day upon the expiry of 36 months from the Date of 30%

Grant to the last trading day upon the expiry of 48 months from the Date of Grant

第三次解除限售期自授予日起36個月後的首個交易日起至授予日起48個月內的最後一個交易日當日止

No restricted shares related to 2021 Scheme were outstanding as at 1 截至2025年1月1日及2025年6月30日，均無2021年January 2025 and 30 June 2025. 計劃相關限制性股票發行在外。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 69Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

23. Share-based payments (Continued) 23. 以股份為基礎的付款（續）

Restricted share incentive scheme (Continued) 限制性股票激勵計劃（續）

2025 Restricted share incentive scheme 2025年限制性股票激勵計劃

On 5 June 2025 the Annual General Meeting of the Group adopted a 於2025年6月5日，本集團股東周年大會採納一項限restricted share incentive scheme (the “2025 Scheme”). Under the 2025 制性股票激勵計劃（「2025年計劃」）。根據2025年計Scheme a total number of 39120130 A shares of the Group will be issued 劃，向本集團307名經選定僱員（包括董事）（「激勵and granted to the selected 307 employees (including directors) of the 對象」）將發行及授予合共39120130股本集團A股。

Group (the “Participants”).Participants who will be granted with the restricted shares were entitled 將獲授限制性股票的激勵對象有權於授予日購入限

to acquire the restricted shares on the grant date and sell the restricted 制性股票及於相關限制性股票的禁售期後出售限制

shares after the lock-up period of the relevant restricted shares subject 性股票，惟本集團及激勵對象均須滿足2025年計劃to the fulfilment of the relevant conditions both by the Group and by 項下的相關條件。

Participants under the 2025 Scheme.Upon the unlocking time point the Company shall proceed with unlocking 於解除限售時點，本公司將為滿足解除限售條件的for the Participants who satisfy the Unlocking Conditions and the restricted 激勵對象解除限售，而未滿足解除限售條件的激勵shares held by the Participants who do not satisfy the Unlocking Conditions 對象所持限制性股票將由本公司回購註銷。

shall be repurchased and cancelled by the Company.The arrangements of unlocking time point under the 2025 Scheme are set 2025年計劃的解除限售時點安排如下表所示：

out in the table below:

Unlocking

Arrangement Time percentage安排時間解除限售比例

First Unlocking point 12 months commencing from the date of Effective 50%

第一個解除限售時點自生效日起12個月

Second Unlocking point 24 months commencing from the date of Effective 50%

第二個解除限售時點自生效日起24個月

70 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

23. Share-based payments (Continued) 23. 以股份為基礎的付款（續）

Restricted share incentive scheme (Continued) 限制性股票激勵計劃（續）

2025 Restricted share incentive scheme (Continued) 2025年限制性股票激勵計劃（續）

The evaluation period for unlocking the restricted shares under the 2025 2025年計劃項下限制性股票解除限售的評估期為

Scheme shall be from 2025-2026 and the evaluation shall be conducted 2025年至2026年，評估將每年進行。各解除限售期annually. The performance evaluation for each Unlocking Period includes 的業績考核包括公司業績考核要求及激勵對象績效

performance evaluation requirements for the Company and performance 考核要求的解除限售條件。倘第一個解鎖時點未達evaluation requirement for the Participants. If the performance requirement 到業績要求，則第一個解除限售期未歸屬的股份全failed to be fulfilled upon the first Unlocking point all the unvested shares 部遞延至第二個解除限售期合併考核。

from the first Unlocking period will be deferred to the second Unlocking

period for combined evaluation.Other than the lock-up period the 2025 Scheme set a required employee 除限售期外，2025年計劃亦設定於第二個解鎖時點service period for the participants of 48 months after the second Unlocking 後，激勵對象必須達到的48個月員工服務期。在規point. During the required service period if the participants unilaterally 定的服務期間內，倘激勵對象未經本公司及╱或其terminate or dissolve the labour relationship without mutual agreement 子公司協商一致，單方面終止或解除勞動關係的，with the Company and/or its subsidiaries or if the Company and/or its 或者因激勵對象的過錯導致本公司及╱或其子公司

subsidiaries terminate the labour relationship due to the participants’ fault 解除勞動關係的，激勵對象應將2025計劃已解除限the participants shall return to the Company the profit gained in respect of 售股份所獲得的收益返還本公司。

the shares already unlocked under the 2025 Scheme.The required employee service period together with 24 months of lock-up 規定的員工服務期間加上24個月的限售期，構成period constitutes a total of 72-month evaluation period under the 2025 2025年計劃項下合共72個月的考核期。

Scheme.On 4 July 2025 the totalling of 39120130 shares were transferred to 於2025年7月4日，合計39120130股過戶至2025年the securities account of the 2025 Scheme with the price of RMB7.15 計劃證券賬戶，每股價格為人民幣7.15元。2025 年per share. The 2025 Scheme becomes effective on this date (“the date of 計劃自此日期起生效（「生效日期」）。Effective”).During the six months ended 30 June 2025 the Company has provided 於截至2025年6月30日止六個月期間，本公司就nil (six months ended 30 June 2024: RMB10260000) as share-based 2021年計劃及2025年計劃下該等限制性股票撥備的payment expenses in respect of these restricted shares under both 2021 股份支付費用為零（截至2024年6月30日止六個月：Scheme and 2025 Scheme. 人民幣10260000元）。

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 71Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

24. Related party transactions 24. 關聯方交易

In the opinion of the directors of the Company the investors held more 本公司董事認為，持有全部股份5%以上權益的投than 5% of total shares and their related parties treated as the related 資者及其關聯方被視為本公司的關聯方。

parties of the Group.During the six months ended 30 June 2025 the Group entered into 於截至2025年6月30日止六個月，本集團與其關聯transactions with its related parties which are set out below. The related 方訂立交易，該等交易載於下文。關聯方交易乃於party transactions were carried out in the normal course of business and 正常業務過程中按本集團與相應關聯方磋商的條款

at terms negotiated between the Group and the respective related parties. 進行。

(a) The Group’s investors and their related parties (a) 本集團投資者及彼等關聯方

The Group had the following significant transactions with the Group’s 本集團曾與投資者及彼等關聯方進行下列重要

investors and their related parties. 交易。

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Sales of goods and services to the Group’s 向本集團投資者及彼等關聯方銷售

investors and their related parties 貨品及服務 146880 67

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Purchase of goods and services from the Group’s 來自本集團投資者及彼等關聯方購

investors and their related parties 入貨品及服務 862167 1182225

72 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

24. Related party transactions (Continued) 24. 關聯方交易（續）

(a) The Group’s investors and their related parties (a) 本集團投資者及彼等關聯方（續）

(Continued)

The details of outstanding balances with the Group’s investors and 涉及本集團投資者及彼等關聯方的未償還結餘

their related parties are set as follow: 詳情載列如下：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Trade and other receivables from the Group’s 應收本集團投資者及彼等關聯方的

investors and their related parties 貿易及其他應收款項 20109 544

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Trade and other payables to the Group’s 應付本集團投資者及彼等關聯方的

investors and their related parties 貿易及其他應收款項 4359 1788

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 73Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

24. Related party transactions (Continued) 24. 關聯方交易（續）

(a) The Group’s investors and their related parties (a) 本集團投資者及彼等關聯方（續）

(Continued)

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Amount prepaid to the Group’s investors and 預付本集團投資者及彼等關聯方的

their related parties 款項 21732 131837

The Group’s investors include the investors and their subsidiaries. 本集團的投資者包括投資者及其附屬公司。

The amount due to the Group’s investors and their related parties 應付本集團投資者及彼等關聯方的款項為無抵

was unsecured interest-free and repayable on demand. 押、免息及須按要求償還。

(b) The Group’s associates and joint ventures (b) 本集團聯營公司及合營企業

The Group had the following significant transactions with its associates 本集團與其聯營公司及合營企業進行下列重要

and joint ventures. 交易。

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Sales of goods and services 銷售貨品及服務

Associates 聯營公司 77115 33283

Joint ventures 合營企業 32 4845

7714738128

74 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

24. Related party transactions (Continued) 24. 關聯方交易（續）

(b) The Group’s associates and joint ventures (Continued) (b) 本集團聯營公司及合營企業（續）

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Purchase of goods and services 採購貨品及服務

Associates 聯營公司 229829 161685

Joint ventures 合營企業 8797 53379

238626215064

The Group had the following outstanding balances with its associates 於各報告期末，本集團與其聯營公司及合營企and joint ventures at the end of each reporting period: 業有以下未償還結餘：

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Trade and other receivables from: 應收下列各方的貿易及

其他應收款項：

Associates 聯營公司 93393 24280

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 75Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

24. Related party transactions (Continued) 24. 關聯方交易（續）

(b) The Group’s associates and joint ventures (Continued) (b) 本集團聯營公司及合營企業（續）

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Trade and other payables to: 應付下列各方的貿易及

其他應收款項：

Associates 聯營公司 290422 200915

Joint ventures 合營企業 26850 23721

317272224636

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Amounts prepaid to: 已預付下列各方的款項：

Associates 聯營公司 598 1786

All amounts due from or due to associates and joint ventures are from 在性質上，所有應收或應付聯營公司及合營企trade in nature. The amount due to associates and joint ventures are 業款項均來自貿易。應付聯營公司及合營企業unsecured interest-free and repayable on demand. 款項為無抵押、免息及須按要求償還。

76 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

24. Related party transactions (Continued) 24. 關聯方交易（續）

(c) Remuneration of key management personnel (c) 主要管理人員酬金

The remuneration of executive directors and other members of key 執行董事及其他主要管理人員的酬金如下：

management were as follows:

Six months ended 30 June截至6月30日止六個月

20252024

2025年2024年

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (unaudited)（未經審核）（未經審核）

Short-term benefits 短期福利 8745 9549

Post-employment benefits 退休福利 233 552

Restricted share incentive scheme 限制性股票激勵計劃 – 2449

897812550

Key management represents the executive directors and other 主要管理人員指在中期報告中披露的執行董事

senior management personnel disclosed in the interim report. The 及其他高級管理人員。主要管理人員的酬金乃remuneration of key management personnel is determined with 根據個人表現與市場趨勢釐定。

reference of the performance to individuals and market trends.

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 77Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

25. Contingent liabilities 25. 或然負債

(a) Notes receivable (a) 應收票據

During the interim period the Group has endorsed or discounted 於中期期間，本集團已對若干應收票據進行背and then derecognized certain notes receivable with full recourse. In 書或貼現，繼而終止確認該等附有完全追索權the opinion of the directors of the Company the risk of the default 的應收票據。本公司董事認為，由於所有背書in payment of the endorsed or discounted notes receivable is low 及貼現的應收票據由聲譽良好的中國銀行發出

because all endorsed or discounted notes receivable are issued 及提供擔保，故欠付背書及貼現的應收票據的and guaranteed by reputable PRC banks. The maximum exposure 風險為低。於各報告期末，本集團可能因欠付to the Group that may result from the default of these endorsed or 該等背書或貼現及終止確認的應收票據而須承

discounted and derecognized notes receivable at the end of each 擔的最大風險如下：

reporting period is as follows:

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Outstanding endorsed or discounted notes 具追索權的尚未償還已背書或

receivable with recourse 已貼現應收票據 2507402 2820447

These endorsed or discounted and then derecognized notes 該等已背書或貼現後終止確認的應收票據的最

receivable have a maximum maturity of 1 year and the total 長期限為1年，於2025年6月30日，該等已背書undiscounted cash flows of these endorsed or discounted and 或貼現後終止確認的應收票據的未貼現現金流derecognized notes receivable representing the Group’s maximum 量總額為人民幣2507402000元（2024年12月31loss if the issuing banks fail to honour their notes and guarantees 日：人民幣2820447000元），倘發行銀行未amounted to RMB2507402000 as at 30 June 2025 (31 December 能兌現其票據及擔保，則代表本集團的最高虧

2024: RMB2820447000). 損額。

(b) Trade receivable transferred (b) 已劃轉的貿易應收款項

As at 30 June 2025 the Group has derecognised certain trade 於2025年6月30日，本集團已終止確認已劃receivables without recourse which were transferred to banks 轉至銀行的若干無追索權貿易應收款項人民with amounting to RMB182292000 (31 December 2024: 幣182292000元（2024年12月31日：人民幣RMB42337000). 42337000元）。

78 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

26. Fair value measurements of financial instruments 26. 金融工具公平值計量

The table below analyses financial instruments carried at fair value by 下表以估值方法分析按公平值列賬的金融工具。不valuation method. The different levels have been defined as follows: 同層級定義如下：

Level 1: The fair value of financial instruments traded in active markets 第1級：於活躍市場買賣金融工具的公平值（例如公(such as publicly traded derivatives and equity securities) is based on 開買賣的衍生工具及股本證券）是按報告期末所報

quoted market prices at the end of the reporting period. The quoted 市價而定。本集團所持金融資產所用的所報市價為market price used for financial assets held by the Group is the current bid 當時的買入價。該等工具列入第1級。

price. These instruments are included in level 1.Level 2: The fair value of financial instruments that are not traded in an 第2級：並非於活躍市場買賣的金融工具（例如場外active market (for example over-the-counter derivatives) is determined 衍生工具）公平值乃利用估值方法釐定，該估值方using valuation techniques which maximise the use of observable market 法盡量利用可觀察市場數據並盡可能減少對實體特

data and rely as little as possible on entity-specific estimates. If all 定估計的倚賴。倘計算工具公平值所需的所有重大significant inputs required to fair value an instrument are observable the 輸入數據為可觀察數據，則該工具列入第2級。

instrument is included in level 2.Level 3: If one or more of the significant inputs is not based on observable 第3級：倘一項或多項重大輸入數據並非根據可觀market data the instrument is included in level 3. This is the case for 察市場數據而定，則該工具列入第3級（例如非上市unlisted equity security. 股本證券）。

Some of the Group’s financial instruments are measured at fair value for 就財務報告目的而言，本集團的部分金融工具以經financial reporting purposes on a recurring basis. The management of the 常性基準按公允值計量。本公司管理層在必要時會Company determine the appropriate valuation techniques and inputs for 徵詢第三方合資格估值師的意見，以釐定適當的估fair value measurements with the advises from third party qualified valuers 值技術及公平值計量的輸入數據。

when necessary.In estimating the fair value the Group uses market-observable data to the 於估計公平值時，本集團使用可用之市場可觀察數extent it is available. For instruments with significant unobservable inputs 據。對於第三層次下具有重大不可觀察輸入值的工under Level 3 the management of the Company performed the valuation 具，本公司管理層已進行估值，並建立適當的估值and established the appropriate valuation techniques and inputs to the 技術及模型輸入。本公司管理層每半年向本公司董model. The management of the Company reports to the directors of the 事報告一次，解釋公平值波動的原因。

Company every half year to explain the cause of fluctuations in the fair

value.The following table gives information about how the fair values of these 下表所載資料說明該等金融資產及金融負債公平值

financial assets and financial liabilities are determined (in particular the 之釐定方式（尤其是所用之估值方法及輸入數據）。

valuation technique(s) and inputs used).

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 79Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

26. Fair value measurements of financial instruments 26. 金融工具公平值計量（續）

(Continued)

Fair value

Financial instruments Fair value as at 30 June 2025 (unaudited) hierarchy Valuation technique and key input

金融工具於2025年6月30日之公平值（未經審核）公平值等級估值方法及重大輸入數據

Financial assets at fair Listed equity securities in A-share Level 1 Quoted bid prices in an active market

value through profit or loss – RMB6075000

(31 December 2024: RMB4183000)

以公平值計量且其變動計入 於A股的上市股本證券 第1級 於活躍市場所報之買入價

損益的金融資產－人民幣6075000元

（2024年12月31日：人民幣4183000元）

Derivative financial instruments Forward foreign exchange contract not designated Level 2 Discounted cash flow. The estimated future cash flow is based on forward

as hedging instruments exchange rate (from observable forward exchange rates at the end of

Assets – RMB35677000 the reporting date) and contracted forward rate discounted at a rate

(31 December 2024: RMB34770000) that reflects the credit risk of the counterparty.

Liabilities – RMB56552000

(31 December 2024: RMB79541000)衍生金融工具衍生金融工具不指定為對沖工具的遠期外匯合同第2級已貼現現金流量。未來現金流量的估算乃根據遠期匯率（來自報資產－人民幣35677000元告期末的可觀察遠期匯率）及合同遠期利率，再按可反映對

（2024年12月31日：人民幣34770000元）手方的信貸風險的比率貼現。

負債－人民幣56552000元

（2024年12月31日：人民幣79541000元）

Derivative financial instruments Forward foreign exchange contract designated Level 2 Discounted cash flow. The estimated future cash flow is based on forward

as hedging instruments exchange rate (from observable forward exchange rates at the end of

Assets – RMB5063000 the reporting date) and contracted forward rate discounted at a rate

(31 December 2024: RMB1616000) that reflects the credit risk of the counterparty.

Liabilities – RMB4000

(31 December 2024: RMB5017000)衍生金融工具指定為對沖工具的遠期外匯合同第2級已貼現現金流量。未來現金流量的估算乃根據遠期匯率（來自報資產－人民幣5063000元告日期末的可觀察遠期匯率）及合同遠期利率，再按可反映

（2024年12月31日：人民幣1616000元）對手方的信貸風險的比率貼現。

負債－人民幣4000元

（2024年12月31日：人民幣5017000元）

80 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

26. Fair value measurements of financial instruments 26. 金融工具公平值計量（續）

(Continued)

Fair value

Financial instruments Fair value as at 30 June 2025 (unaudited) hierarchy Valuation technique and key input

金融工具於2025年6月30日之公平值（未經審核）公平值等級估值方法及重大輸入數據

Financial assets at fair value Other financial assets – assets management Level 2 Fair values of investment schemes of which underlying assets including

through profit or loss products – RMB5450432000 debt securities shares bank deposits and options contracts have

(31 December 2024: RMB5204015000) been determined based on quotes from market makers funds

administrators or alternative pricing sources supported by observable

inputs.以公平值計量且其變動計入其他金融資產－資產管理產品第2級相關資產包括債務證券、股份、銀行存款及期權合同的投資計

損益的金融資產－人民幣5450432000元劃的公平值乃根據市場莊家、基金管理公司或有可觀察輸入

（2024年12月31日：人民幣5204015000元）數據支持的其他價格來源的報價釐定。

Financial assets at fair value Certificate of deposits Level 2 Discounted cash flow. The estimated future cash flow is based on the

through profit or loss – RMB342536000 contractual amount discounted at a rate that reflects the expected

(31 December 2024: RMB361344000) return rates.

以公平值計量且其變動計入存款證第2級已貼現現金流量。未來現金流量的估算乃根據合同金額，再按損益的金融資產－人民幣342536000元可反映預期回報率的比率貼現。

（2024年12月31日：人民幣361344000元）

Financial assets at fair value Other financial assets – principal Level 2 Discounted cash flow. The estimated future cash flow is based on the

through profit or loss non-guaranteed financial products contractual amount discounted at a rate that reflects the expected

– RMB431518000 return rates.

(31 December 2024: RMB250724000)

以公平值計量且其變動計入其他金融資產－保本金融產品及非保本金融產品第2級已貼現現金流量。未來現金流量的估算乃根據合同金額，再按損益的金融資產－人民幣431518000元可反映預期回報率的比率貼現。

（2024年12月31日：人民幣250724000元）

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 81Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

26. Fair value measurements of financial instruments 26. 金融工具公平值計量（續）

(Continued)

Fair value as at 30 June 2025 Fair value

Financial instruments (unaudited) hierarchy Valuation technique and key input Significant unobservable input

金融工具於2025年6月30日之公平值（未經審核）公平值等級估值方法及重大輸入數據重大不可觀察輸入數據

Financial assets at FVTOCI Notes receivables Level 3 Discounted cash flow. The estimated Expected discounted rate

current – RMB1978939000 future cash flow is based on the

(31 December 2024: RMB2502853000) contractual amount. The higher the discount rate the lower

the fair value.以公平值計量且其變動計入應收票據第3級已貼現現金流量。未來現金流量的估預期虧損率其他全面收益的金融資產，－人民幣1978939000元算乃根據合同金額。

即期（2024年12月31日：人民幣貼現率越高，公平值越低。2502853000元）

Equity instruments at FVTOCI Equity interest in unlisted company with no Level 3 Valuation multiples. The fair value is EV/BV multiple and DLOM.non-current open market price quote based on Enterprise Value (“EV”)/

– RMB719334000 Book Value (“BV”) multiple and The higher the EV/BV multiple the higher

(31 December 2024: RMB419334000) Discounts for Lack Of Marketability the fair value. The higher the DLOM

(“DLOM”). the lower the fair value.以公平值計量且其變動計入 並無公開市場報價的 第3級 估值倍數。公平值乃基於企業價值 EV/BV倍數越高，公平值越高。

其他全面收益的股本工具， 非上市公司股本權益 （「EV」）╱賬面值（「BV」）倍數及非即期－人民幣719334000元缺乏市場流通性貼現（「缺乏市場流缺乏市場流通性貼現越高，公平值

（2024年12月31日： 通性貼現」）。EV/BV倍數及缺乏 越低。

人民幣419334000元）市場流通性貼現。

Financial assets at fair value Equity interest in unlisted company with no Level 3 Valuation multiples. The fair value is EV/BV multiple and DLOM.through profit or loss open market price quote based on EV/BV and DLOM.– RMB1296000 The higher the EV/BV multiple the higher

(31 December 2024: RMB1296000) the fair value. The higher the DLOM

the lower the fair value.以公平值計量且其變動計入 並無公開市場報價的 第3級 估值倍數。公平值乃基於EV/BV及缺乏 EV/BV倍數及缺乏市場流通性貼現。

損益的金融資產非上市公司股本權益市場流通性貼現。

－人民幣1296000元 EV/BV倍數越高，公平值越高。缺乏（2024年12月31日：市場流通性貼現越高，公平值越人民幣1296000元）低。

Financial assets at fair value Equity interest in unlisted company with no Level 3 Valuation multiples. The fair value is EV/BV multiple and DLOM.through profit or loss open market price quota based on EV/BV and DLOM.non-current – RMB7050000 The higher the EV/BV multiple the higher

(31 December 2024: RMB7050000) the fair value. The higher the DLOM

the lower the fair value.以公平值計量且其變動計入 並無公開市場報價的 第3級 估值倍數。公平值乃基於EV/BV及缺乏 EV/BV倍數及缺乏市場流通性貼現。

損益的金融資產，非即期非上市公司股本權益市場流通性貼現。

－人民幣7050000元 EV/BV倍數越高，公平值越高。缺乏（2024年12月31日：市場流通性貼現越高，公平值越人民幣7050000元）低。

82 ZMJ Group Company Limited INTERIM REPORT 2025Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

26. Fair value measurements of financial instruments 26. 金融工具公平值計量（續）

(Continued)

There were no transfers between Level 1 and 2 during the period. No 期內第1級及第2級之間並無轉撥。中期期間內概無financial assets and financial liabilities were transfer into or out of Level 3 金融資產及金融負債轉入或轉出第3級。

during the interim period.For the sensitivity analysis of unobservable inputs of financial instruments 對於金融工具的不可觀察輸入數據的敏感性分析，the management of the Group considers that the impacts are immaterial 本集團管理層認為影響並不重大，因而並未披露相and such information is not disclosed. 關資料。

The directors consider that the carrying amounts of financial assets 董事認為，於簡明綜合財務資料內按攤銷成本列賬and financial liabilities recorded at amortised cost in the condensed 之流動金融資產及金融負債的賬面值與其公平值相

consolidated financial statements approximate their fair values. 若。

27. Capital commitments 27. 資本承擔

At 30 June At 31 December

20252024

於2025年於2024年

6月30日12月31日

RMB’000 RMB’000人民幣千元人民幣千元

(unaudited) (audited)（未經審核）（經審核）

Capital expenditure in respect of acquisition of 已訂約但未在簡明綜合財務報表計

property plant and equipment contracted for 提撥備的有關收購物業、廠房及

but not provided in the condensed consolidated 設備的資本支出

financial statements 596326 350498

2025 中期報告 中創智領（鄭州）工業技術集團股份有限公司 83Notes to the Condensed Consolidated Financial Statements

簡明綜合財務報表附註

For the six months ended 30 June 2025 截至2025年6月30日止六個月

28. Events after the end of the reporting period 28. 報告期後事項

On 7 July 2025 the Company completed the business registration 本公司已於2025年7月7日完成公司名稱變更之工商

procedures for the change of company name and obtained the new 登記手續，並獲鄭州市市場監督管理局核發新營業business license issued by the Administration of Market Regulation of 執照。自2025年7月7日起，本公司中文名稱由「鄭Zhengzhou City. Effective from 7 July 2025 the Company’s Chinese name 州煤礦機械集團股份有限公司」變更為「中創智領

has been changed from “鄭州煤礦機械集團股份有限公司” to “中 （鄭州）工業技術集團股份有限公司」。創智領（鄭州）工業技術集團股份有限公司”.On 30 July 2025 the Registrar of Companies in Hong Kong issued the 2025年7月30日，香港公司註冊處發出「註冊非香“Certificate of Registration of Alteration of Name of Registered Non- 港公司變更名稱註冊證明書」（「證明書」）。證明書Hong Kong Company” (“the Certificate”) The Certificate confirms that 確認，根據《公司條例》（香港法例第622章）第16部the English name of the Company registered in Hong Kong under Part 16 在香港註冊的本公司英文名稱已由「Zhengzhou Coal

of the Companies Ordinance (Cap. 622 of the Laws of Hong Kong) has Mining Machinery Group Company Limited」更改為「 ZMJbeen changed from “Zhengzhou Coal Mining Machinery Group Company Group Company Limited」，而中文名稱則由「鄭州煤礦Limited” to “ZMJ Group Company Limited” and the Chinese name has 機械集團股份有限公司」更改為「中創智領（鄭州）工

been changed from “鄭州煤礦機械集團股份有限公司” to “中創智 業技術集團股份有限公司」。領（鄭州）工業技術集團股份有限公司”.The Chinese stock short name for the Company’s H Shares traded on 本公司於香港聯合交易所有限公司上市之H股中The Stock Exchange of Hong Kong Limited has been changed from “鄭 文股份簡稱已由「鄭煤機」變更為「中創智領」，自煤機” to “中創智領” effective as of 9:00 a.m. on 13 August 2025. 2025年8月13日上午9時起生效。本公司於香港聯合The English stock short name for the Company’s H shares traded on The 交易所有限公司上市之H股英文簡稱維持不變，仍Stock Exchange of Hong Kong Limited remains unchanged as “ZMJ” and 為「ZMJ」；本公司H股股份代號亦維持不變，仍為the stock code for the Company’s H shares also remains unchanged as 「00564」。

”00564”.

84 ZMJ Group Company Limited INTERIM REPORT 2025