慧源同创科技集团有限公司（「慧源同创科技」，或连同其附属公司统称「集团」；股份代号：1116.HK）欣然宣布截至2025年12月31日止六个月 （「期内」）之中期业绩。集团实现综合收益约人民币4.54亿元，同比增长14.9%；毛利约人民币4,765.3万元，同比增长6.9%；期内股东应占溢利约人民币133.6万元，成功扭亏为盈；每股基本盈利人民币0.06分，业绩实现质的飞跃。

新兴业务强势崛起 蓄能技术引领产业升级

慧源同创科技坚持多业务协同发展战略，碳钢、不锈钢等传统业务稳步推进，直饮水业务迎来发展良机，相变材料（PCM）及设施农业等新兴业务多点突破。其中，蓄能业务凭借政策红利与技术优势，成为集团新的增长引擎，展现出强劲潜力与广阔前景。

· 冷链运输突破：集团率先研发并推出国内首例相变材料内置式「长效蓄冷冷链车」，保冷时长可达120小时，保冷成本降低60%，为农业与医药物流带来创新价值。

· 工业废热回收：2025年11月，怀来零碳农业示范园啓动全国首创「AI智算中心多热源废热回收应用项目」，回收数据中心废热为周边蝴蝶兰温室、金秋家园社区供暖，替代传统燃气锅炉。经北京中创碳投评估，2024年11月至2025年3月供暖季，项目累计节约标准煤838.94吨、减排二氧化碳1,048.69吨、节水56.61%、成本降低58.63%。

· 设施农业标杆：在海南三亚落地全国首个「相变蓄能多能互补超低能耗智能温室大棚」，实现全年高效种植，破解热带地区作物存活难题。

此外，2025年8月集团透过旗下子公司与英国 Environmental Process Systems Limited （EPS）签署合作备忘录，进一步巩固技术领先地位，拓展中央空调、数据中心、冷链冷库等应用场景。

直饮水业务：政策与需求双轮驱动

在政策支持与健康理念普及的推动下，直饮水业务迎来发展机遇。国家新版《生活饮用水卫生标准》（GB5749-2022）提升行业准入门槛，多地政府将直饮水工程纳入民生重点。慧源同创科技已完成多个直饮水系统项目，其中广东广播电视台管道直饮水项目获监管部门「标杆级」评价，于2025年12月正式投入使用，日供水能力满足4,000余人需求。其中，粤高速佛开分公司直饮水项目亦同步建设中。

传统业务稳健运营 把握结构性机遇

尽管钢铁产能过剩、钢价下行仍带来压力，碳钢业务仍存在结构性机遇。随着5G向6G过渡，数据存储需求攀升，带动服务器机箱等产品需求增长，为碳钢业务提供至少5至10年的扩张空间。同时，越南及泰国高端镀面产品加工能力不足，依赖国内进口，为集团出口开辟新市场。

不锈钢业务方面，慧源同创科技通过灵活价格策略和国际市场拓展，在香港、澳洲、新西兰等地建立品牌认知，为业务增长注入新动力。

战略布局前瞻 未来发展广阔

展望未来，慧源同创科技将继续遵循中央政策，聚焦核心业务提质增效，推动多业务协同高质量发展。在新兴业务领域，将加大相变材料蓄能技术研发与产业化投入，拓展更多应用场景，巩固技术领先优势，打造新的利润增长。

旗下子公司广州美亚已获评国家级高新技术企业、国家级专精特新「小巨人」企业、国家级CNAS认证实验室、广东省绿色工厂、新质生产力优秀企业、入选央视《强国智造》企业、2025年度经济十大领军企业等70余项荣誉，并拥有 45项科技专利成果，彰显集团在技术研发与产业升级方面的卓越实力。未来，慧源同创科技将以科技创新驱动产业升级，为股东创造长期稳定价值，并为助力国家碳中和目标作出更大贡献。

Huiyuan Cowins Technology Group Limited (“Huiyuan Cowins Technology”, together with its subsidiaries, the “Group”; stock code: 1116.HK) is pleased to announce its interim results for the six months ended 31 December 2025 (the “Period”). During the Period, the Group recorded revenue of approximately RMB454 million, representing a year-on-year increase of 14.9%. Gross profit amounted to approximately RMB47.65 million, up 6.9% year-on-year. Profit attributable to owners of the Company was approximately RMB1.34 million, representing a turnaround from a loss in the corresponding period of the previous year. Basic earnings per share were RMB0.06 cents, marking a significant improvement in performance.

Strong Growth from Emerging Business; PCM Technology Drives Industrial Upgrade

Through coordinated development across multiple business lines, the Group maintained stability in its traditional carbon steel and stainless steel segments while accelerating growth in emerging areas, including direct drinking water, phase-change materials (PCM), and facility agriculture. The energy storage business, bolstered by supportive national policies and the Group’s technological strengths, has emerged as a key growth driver with substantial market potential.

· Breakthrough in cold-chain transportation: The Group pioneered the use of PCM in China to create a long-lasting phase change cold chain vehicle. Temperature control and cold storage last for up to 120 hours, and the cost of cold storage and preservation can be reduced by up to 60%, offering innovation value for agricultural and pharmaceutical logistics.

· Industrial waste-heat recovery: The “AI intelligent multi-heat source waste heat recovery application project”, the first of its kind in the industry nationwide, was launched in Huailai Zero-Carbon Agriculture Demonstration Park in November 2025. The heat generated during data center operation supplies to the surrounding Phalaenopsis orchid greenhouses and Jinqiu Jiayuan community for heating, replacing the traditional gas boiler heating. According to an assessment by SinoCarbon Innovation and Investment, during the heating season from November 2024 to March 2025, the project cumulatively saved a total of 838.94 tons of standard coal, reduced carbon dioxide emissions by 1,048.69 tons, and achieved a water saving rate of 56.61% and reduced costs by 58.63%.

· Facility agriculture benchmark project: The nation’s first application case of a “phase change energy storage multi-energy complementary ultra-low energy consumption intelligent greenhouse” was implemented in Sanya, Hainan, enabling efficient year-round cultivation in tropical conditions.

In addition, the Group, through its subsidiary Guangzhou Mayer, entered into a memorandum of understanding with UK-based Environmental Process Systems Limited (EPS), to further strengthen technological leadership and expand application scenarios in central air-conditioning, data centers, and cold-chain storage.

Direct Drinking Water: Supported by Policy and Rising Demand

Stricter regulations and growing public health awareness have created strong opportunities in the direct drinking water sector. The GB5749-2022 national “Standards for Drinking Water Quality” has raised entry barriers, while local governments increasingly prioritize direct drinking water in key livelihood projects. The Group has completed several direct drinking water projects, including the piped direct drinking water system for Guangdong Radio and Television, which achieved benchmark recognition and commenced operations in December 2025, serving the daily water needs of over 4,000 people. Meanwhile, the direct drinking water project for the Guangdong Expressway Fokai Branch is currently under construction.

Traditional Business: Steady Performance Amid Structural Opportunities

Despite industry challenges such as overcapacity and declining steel prices, structural opportunities persist. The transition from 5G to 6G is driving increased demand for data storage and related server chassis, supporting at least 5–10 years of growth in the Group’s carbon steel segment. Limited high-end coated product processing capacity in Vietnam and Thailand also creates export opportunities for the Group’s domestic production.

In stainless steel business, the Group has adopted flexible pricing strategies and expanded its international presence in Hong Kong, Australia, and New Zealand, enhancing brand recognition and growth momentum.

Strategic Outlook: Broad Development Prospects Ahead

Looking ahead, the Group will continue to align with national policies, enhance quality and efficiency in its core businesses, and pursue high-quality development across multiple segments. It will increase investment in research and development, as well as the industrialization of PCM energy storage technologies, to expand application scenarios, strengthen competitive advantages, and establish a new growth engine.

Its subsidiary, Guangzhou Mayer, has been recognized with more than 70 honours, including National High-Tech Enterprise, National “Little Giant” Enterprise, National CNAS Accredited Laboratory, Guangdong Province Green Factory, Outstanding Enterprise in New Quality Productive Forces, featured enterprise in CCTV’s “Strong Country Intelligent Manufacturing” program, and one of the Top 10 Leading Enterprises in the 2025 Economy. It also holds 45 technological patents, fully demonstrating the Group’s outstanding capabilities in technological research and industrial upgrading. In the future, the Group will continue to drive industrial upgrading through scientific and technological innovation, deliver long-term and stable value to shareholders, and make greater contributions to achieving the national carbon neutrality goal.