In the first half of 2025, amid a volatile global economic landscape and uncertainties in the commodity market, Leon Inspection delivered a performance driven by its dual strategy of "Globalization × AI" while maintaining a focus on "heavy R&D and long-term vision." The Company achieved revenue of approximately HKD 602.8 million, with profit attributable to shareholders for the period at approximately HKD 40.7 million. Despite short-term profit pressures due to strategic investments, the Company made breakthrough progress in AI technology implementation, commodity business expansion, and ESG capability development, laying a solid foundation for medium- to long-term value growth.

AI Strategy Fully Implemented, Inspection Business Enters a New AI Era

The year 2025 marks the "Year of AI Empowerment" for Leon Inspection. The Company’s independently developed "Leon AI System" has been successfully deployed in three core scenarios: energy inspection, quality prediction, and safety management, signifying the formal transition of traditional inspection services into a new phase of "AI-driven" operations. Through the deep integration of large-scale AI models with inspection data, the Company has achieved dual breakthroughs in enhancing detection efficiency and reducing reliance on manual processes. Additionally, by integrating IoT and multimodal AI technologies, the Company is actively advancing the development of a safety intelligence platform, providing innovative solutions for enterprise safety management. Looking ahead to the second half of the year, the Company plans to promote the global deployment of its AI system, with a focus on pioneering areas such as cross-border inspection AI mutual recognition and AI-driven carbon emission accounting, further consolidating its technological leadership.

Commodity Business Qualifications Strengthened Core Competitive Moat

As the cornerstone of its business, Leon Inspection continued to achieve significant breakthroughs in the commodity inspection sector. In the first half of 2025, the Company secured two additional qualifications as a designated inspection agency for the Shanghai Futures Exchange’s cast aluminum alloy futures and the Guangzhou Futures Exchange’s polysilicon futures.With these additions, Leon has become one of the few third-party inspection agencies in China to hold comprehensive qualifications across all five major futures exchanges, covering 13 core futures categories, including base metals, new energy materials, ferrous metals, and energy chemicals. This complete qualification matrix not only reflects the high recognition of Leon’s professional capabilities by regulators and the market but also establishes a unique advantage in the inspection of new energy materials, laying a solid foundation for serving leading global commodity clients.

Below is the list of futures inspection qualifications obtained by the Group and its subsidiaries from major exchanges to date:

Global Network Continues to Expand, Emerging Markets Yield Significant Results

Leveraging its expanding global network, Leon Inspection has achieved notable success in its international expansion. As of June 2025, the Company’s global branches and professional laboratories increased to 80, spanning 19 countries, with a global workforce of 3,574 employees. In emerging markets, particularly resource-rich regions such as Africa and the Middle East, the Company has established localized teams to provide comprehensive inspection and testing services for energy and mining enterprises, effectively supporting the needs of global resource supply chains.

ESG Strategy Fully Implemented, Green Service Chain Value Becomes Evident

Centered on its ESG sustainability strategy, the Company has developed a comprehensive green service ecosystem, establishing full-chain service capabilities in clean energy, environmental protection, and climate change. As a core trader in the Beijing Carbon Market, the Company was awarded the "2024 Best Transaction Award" in the first half of the year, earning authoritative recognition for its carbon asset development and trading capabilities. As global carbon market regulations become clearer, Leon will leverage its professional expertise in carbon market mechanisms to assist more enterprises in aligning with international emission reduction frameworks.

Outlook: Building on Commodities, Advancing Green Initiatives, and Driving Intelligence

Looking forward, Leon Inspection will focus on three key development directions: continuing to advance the deep application of AI technology across all inspection scenarios to create an industry-leading AI service platform; deepening its presence in emerging markets to establish an efficient cross-border inspection service network; and seizing opportunities in the global carbon market to become a leading low-carbon comprehensive service provider in the Asia-Pacific region.

Mr. Li Xiangli, Chairman and CEO of the Group, stated: "Our investments in AI technology R&D, global network expansion, and qualification development in the first half of the year reflect strategic choices aimed at long-term value creation. The deep integration of AI with traditional inspection services not only enhances service efficiency but, more importantly, builds a technological moat that is difficult to replicate. Combined with our comprehensive qualifications in the commodity business and first-mover advantage in ESG, the Company is well-prepared to embrace broader growth opportunities in the TIC industry."