新大洲A最新一期业绩显示，截至2025一季报，公司营业总收入8837.29万元、同比减少56.91%，归属 净利润3340.24万元，同比减少99.53%，扣非净利润3033.96万元，同比减少116.96%，流动比率0.530、 速动比率0.457、资产负债率62.33%。 天眼查商业履历信息显示，新大洲控股股份有限公司，成立于1992年，位于海口市，是一家以从事房地 产业为主的企业。企业注册资本83912.9万人民币，实缴资本44022.98万人民币。公司法定代表人为韩东 丰。 通过天眼查大数据分析，新大洲控股股份有限公司共对外投资了15家企业，参与招投标项目1次，知识 产权方面有商标信息94条，此外企业还拥有行政许可21个。 资金流向方面，今日主力资金净流出1022.50万元，占比成交额15.57%。其中，超大单净流出807.21万 元、占成交额12.29%，大单净流出215.29万元、占成交额3.28%，中单净流出流入809.91万元、占成交 额12.33%，小单净流入212.59万元、占成交额3.24%。 来源：金融界 金融界消息 截至2025年8月13日收盘，新大洲A（000571）报收于4.62 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 震雄集團有限公司 (於百慕達註冊成立之有限公司） 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00057 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | 本月底法定/註冊 ...

[Financial Summary](index=2&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) The Group reported significant growth in revenue and profit, leading to improved profitability ratios for the year Financial Highlights for the Year Ended March 31, 2025 | Metric | 2025 (HK$ thousands) | 2024 (HK$ thousands) | Change | | :--- | :--- | :--- | :--- | | **Performance Summary** | | | | | Revenue | 2,594,735 | 2,009,545 | 29% | | Profit Before Tax | 189,625 | 125,142 | 52% | | Profit Attributable to Equity Holders of the Company | 154,386 | 100,853 | 53% | | **Assets and Equity** | | | | | Total Assets | 4,358,964 | 4,143,750 | 5% | | Shareholders' Equity | 3,081,570 | 3,057,530 | 1% | | **Per Share Data** | | | | | Basic Earnings Per Share (HK cents) | 24.5 | 16.0 | 53% | | Cash Dividend Per Share (HK cents) | 11.8 | 8.0 | 48% | | Net Asset Value Per Share (HKD) | 4.9 | 4.9 | 0% | | **Key Financial Ratios** | | | | | Return on Average Shareholders' Equity (%) | 5.0% | 3.3% | 52% | | Return on Average Total Assets (%) | 3.6% | 2.4% | 50% | [Corporate Information](index=4&type=section&id=%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) This section outlines the composition of the Board of Directors and lists the company's key professional advisors - The Board of Directors is composed of Executive Directors Ms. Lai Yuen CHIANG (Chairman and Group CEO) and Mr. Hyo Young CHUNG, along with five Independent Non-executive Directors[9](index=9&type=chunk)[10](index=10&type=chunk) - The company's auditor is Ernst & Young, and its principal bankers include China Construction Bank (Asia), Hang Seng Bank, Industrial and Commercial Bank of China (Asia), and The Hongkong and Shanghai Banking Corporation[12](index=12&type=chunk)[13](index=13&type=chunk) [Chairman's Statement](index=6&type=section&id=%E4%B8%BB%E5%B8%AD%E5%A0%B1%E5%91%8A%E6%9B%B8) The Group achieved strong growth despite a complex global environment, driven by strategic industries and emerging markets [Business Review and Outlook](index=6&type=section&id=Business%20Review) The Group achieved significant growth in revenue and profit amid a complex trade environment, driven by strategic industries in China and expansion in emerging markets FY2025 Performance Overview | Metric | Amount (HKD) | Y-o-Y Growth | | :--- | :--- | :--- | | Turnover | 2.595 billion | 29% | | Profit Attributable to Equity Holders | 154 million | 53% | - In terms of the macroeconomic environment, geopolitical tensions and slowing global economic growth were present, but the Chinese government's accommodative monetary policy and support for the manufacturing sector stabilized the domestic economy, particularly in rapidly growing industries like new energy vehicles and industrial robots[16](index=16&type=chunk)[20](index=20&type=chunk) - To address market competition and customer pain points, the Group established the Smart Industry Division and launched the "iChen Smart Family" intelligent production system, which includes the "iChen AI Molder" featuring artificial intelligence mold adjustment technology[23](index=23&type=chunk)[26](index=26&type=chunk) - The Group actively expanded its overseas markets, with investments in emerging markets such as Brazil, India, Indonesia, and Vietnam showing initial success and driving significant growth in overseas sales performance[17](index=17&type=chunk)[21](index=21&type=chunk) [Management Discussion and Analysis](index=8&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E4%B9%8B%E8%AB%96%E8%BF%B0%E5%8F%8A%E5%88%86%E6%9E%90) This section details the Group's business and financial performance, market analysis, technological advancements, and future outlook [Business Performance](index=8&type=section&id=Business%20Performance) The Group's total turnover increased by 29% to HK$2.595 billion, while profit attributable to equity holders grew by 53% to HK$154 million amid a complex global economic environment FY2025 Key Performance Indicators | Metric | FY2025 | FY2024 | | :--- | :--- | :--- | | Total Turnover | HK$2.595 billion | HK$2.010 billion | | Profit Attributable to Equity Holders | HK$154 million | HK$101 million | | Basic Earnings Per Share | 24.5 HK cents | 16.0 HK cents | | Proposed Final Dividend | 8.0 HK cents | 5.0 HK cents | - The global economic environment is fraught with uncertainty, particularly due to the global trade war initiated by the new US administration, which has impacted market confidence[33](index=33&type=chunk)[35](index=35&type=chunk)[39](index=39&type=chunk) - The Group believes the increase in market demand in the second half of the year was primarily due to inventory stockpiling by businesses ahead of new US tariffs, a trend that may not be sustainable[33](index=33&type=chunk)[35](index=35&type=chunk)[39](index=39&type=chunk) [Market Analysis](index=10&type=section&id=Market%20Analysis) Turnover from Mainland China and Hong Kong grew by 27%, driven by high-tech manufacturing and pre-tariff inventory buildup, while other overseas markets saw a 37% increase due to the "China + 1" strategy Turnover by Customer's Geographical Location | Customer Region | 2025 (HK$ million) | 2024 (HK$ million) | Change | | :--- | :--- | :--- | :--- | | Mainland China and Hong Kong | 1,840 | 1,450 | +27% | | Taiwan | 39 | 38 | +3% | | Other overseas countries | 716 | 522 | +37% | | **Total** | **2,595** | **2,010** | **+29%** | - Growth in the Mainland China market was driven by the supply of a large number of high-end injection molding machines to strategic partner BYD and active inventory stockpiling by international customers in response to US tariff policies[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) - International market turnover recorded **strong growth of 37%**, mainly because the Group's early strategic deployment in key markets like Europe, Mexico, Indonesia, Brazil, and India successfully captured the demand shift resulting from international brands adopting the "China + 1" supply chain strategy[48](index=48&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk) [Development of New Technologies and New Products](index=12&type=section&id=Development%20of%20New%20Technologies%20and%20New%20Products) The Group advanced its product lines, launched industry-specific machines, and introduced the "iChen Smart Family" intelligent production system to drive digital transformation - The Group launched several new products and specialized machines, including a 4,500-ton two-platen machine with an ultra-large shot size and a 3,600-ton two-platen machine achieving a 200,000g ultra-large injection capacity, the latter of which was recognized for its "New Technology and New Product Achievement" by the China Plastics Machinery Industry Association[53](index=53&type=chunk)[55](index=55&type=chunk) - To accelerate industrial upgrading, the Group established the Smart Industry Division and launched the "iChen Smart Family" intelligent production system, which includes "iChen Cloud," "iChen Smart Factory," and "iChen AI Molder," providing customers with comprehensive solutions from smart factory construction to AI-powered mold adjustment[58](index=58&type=chunk)[59](index=59&type=chunk) - The Group was recognized as the "Guangdong Provincial Chen Hsong Precision Injection Molding Engineering Technology Research Center" by the Guangdong Provincial Department of Science and Technology and established a Group Digitalisation Centre to promote digital transformation[54](index=54&type=chunk)[56](index=56&type=chunk) [Production Capacity and Cost Control](index=14&type=section&id=Production%20Capacity%20and%20Cost%20Control) The Group is advancing digital factory construction through a "three-level planning system" and MES implementation while optimizing its supply chain for cost and efficiency - The Group is committed to establishing a comprehensive "three-level planning system" and has implemented an advanced MES system, initiating the construction of digital factories[61](index=61&type=chunk)[63](index=63&type=chunk) - By integrating supply chain resources, co-locating supporting resources, and standardizing designs, the Group aims to shorten delivery cycles, optimize costs, and enhance supply chain responsiveness[61](index=61&type=chunk)[64](index=64&type=chunk) [Financial Review](index=14&type=section&id=Financial%20Review) The Group maintained a strong financial position with net current assets of HK$1.998 billion, a net cash balance of HK$667 million, and no bank borrowings Liquidity and Financial Position (as of March 31, 2025) | Metric | 2025 (HKD) | 2024 (HKD) | | :--- | :--- | :--- | | Net Current Assets | 1.998 billion | 1.985 billion | | Cash and Bank Balances | 667 million | 874 million | | Bank Borrowings | Nil | Nil | | Net Cash Balance | 667 million | 874 million | - The Group's capital commitments as of March 31, 2025, were **HK$22 million**, a significant increase from HK$6 million last year, primarily for the construction and upgrade of production facilities in Mainland China and the purchase of a warehouse in Europe[69](index=69&type=chunk)[74](index=74&type=chunk) - The Group's funds are mainly held in HKD, RMB, NTD, USD, and EUR, with a prudent financial management strategy in place; as most transactions are settled in RMB, currency fluctuations do not have a direct impact on operations or cash flow[79](index=79&type=chunk)[80](index=80&type=chunk)[85](index=85&type=chunk) [Human Resources](index=17&type=section&id=Human%20Resources) The Group expanded its workforce to approximately 2,700 full-time employees and continues to invest in competitive remuneration and professional training - As of March 31, 2025, the number of full-time employees in the Group increased from 2,400 to approximately **2,700**[92](index=92&type=chunk)[98](index=98&type=chunk) [Prospects for the Coming Year](index=18&type=section&id=Prospects%20for%20the%20Coming%20Year) The Group anticipates significant market uncertainty due to aggressive US policies and will continue to manage risks prudently while investing in technology and international expansion - The Group expects that the policies of the new US administration will intensify major power competition, complicate the geopolitical landscape, and accelerate the restructuring of global supply chains[100](index=100&type=chunk)[105](index=105&type=chunk) - In the face of an uncertain business environment, interest rate cycles, and tariff policies, the Group will continue to adopt prudent measures, strictly control risks, and invest in R&D, international market expansion, and brand building[101](index=101&type=chunk)[106](index=106&type=chunk) [Biographical Details of Directors](index=19&type=section&id=%E8%91%A3%E4%BA%8B%E4%B9%8B%E5%80%8B%E4%BA%BA%E8%B3%87%E6%96%99) This section details the backgrounds, professional experience, and qualifications of the company's Executive and Independent Non-executive Directors [Corporate Governance Report](index=24&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%A0%B1%E5%91%8A%E6%9B%B8) This report outlines the company's corporate governance framework, compliance status, and the functions of the Board and its committees [COMPLIANCE WITH CORPORATE GOVERNANCE CODE](index=24&type=section&id=COMPLIANCE%20WITH%20CORPORATE%20GOVERNANCE%20CODE) The company complied with most provisions of the Corporate Governance Code, with noted deviations regarding the rotation of the Chairman and the combined role of Chairman and CEO - The company deviated from two provisions of the Corporate Governance Code: - **Code Provision B.2.2**: The Chairman and Managing Director are not subject to retirement by rotation every three years - **Code Provision C.2.1**: The roles of Chairman and Group CEO are held concurrently by Ms. Lai Yuen CHIANG[127](index=127&type=chunk)[129](index=129&type=chunk)[130](index=130&type=chunk) [BOARD OF DIRECTORS](index=27&type=section&id=BOARD%20OF%20DIRECTORS) The Board comprises seven directors, with a majority of independent members, and is responsible for setting the Group's strategic direction and risk management policies Board Diversity Overview | Diversity Aspect | Category | Number of Directors | Approx. Percentage | | :--- | :--- | :--- | :--- | | Gender | Male | 6 | 85.7% | | | Female | 1 | 14.3% | | Age Group | Over 60 | 4 | 57.1% | | | 51–60 | 3 | 42.9% | | Role | Executive Director | 2 | 28.6% | | | Independent Non-executive Director | 5 | 71.4% | - The Board has adopted and reviewed its board diversity policy, considering the current composition to be appropriately balanced in terms of skills, experience, and cultural background; the Board aims to maintain the existing level of female representation[152](index=152&type=chunk)[153](index=153&type=chunk)[155](index=155&type=chunk) - During the reporting period, four Board meetings and one general meeting were held, with detailed attendance records for each director provided in the report[191](index=191&type=chunk)[192](index=192&type=chunk) [BOARD COMMITTEES](index=42&type=section&id=BOARD%20COMMITTEES) The Board has established Audit, Corporate Governance, Nomination, and Remuneration Committees, each chaired by and comprising a majority of Independent Non-executive Directors - The Audit Committee reviewed the Group's annual and interim financial results, internal and external audit reports, and assessed the effectiveness of the risk management and internal control systems[229](index=229&type=chunk) - The Nomination Committee reviewed the Board's structure and diversity, assessed the independence of INEDs, and made recommendations to the Board on director appointments and re-elections[252](index=252&type=chunk) - The Remuneration Committee evaluated the remuneration of directors and senior management and recommended the grant of share options, noting that the options granted do not have performance targets or clawback mechanisms[266](index=266&type=chunk)[268](index=268&type=chunk)[270](index=270&type=chunk) [ACCOUNTABILITY AND AUDIT](index=54&type=section&id=ACCOUNTABILITY%20AND%20AUDIT) The Board oversees financial reporting and maintains effective risk management and internal control systems, with independent external and internal audit functions in place - The Board confirmed that, for the year ended March 31, 2025, the Group's risk management and internal control systems were adequate and effective, and it had complied with the relevant code provisions[294](index=294&type=chunk)[297](index=297&type=chunk) - The total remuneration for the external auditor, Ernst & Young, for the financial year was **HK$3.356 million**, of which HK$2.736 million was for audit services[285](index=285&type=chunk)[289](index=289&type=chunk) - The Group has established a whistle-blowing policy and an anti-corruption policy, with regular training conducted to ensure integrity and responsible business ethics[293](index=293&type=chunk)[296](index=296&type=chunk) [RELATIONSHIP WITH SHAREHOLDERS](index=59&type=section&id=RELATIONSHIP%20WITH%20SHAREHOLDERS) The company maintains communication with shareholders through various channels and has adopted a dividend policy aimed at sustainable distributions - The company has adopted a dividend policy aiming to distribute a portion of its distributable profits to shareholders while retaining funds for future business expansion, with the Board considering factors such as profits, cash flow, and capital requirements[301](index=301&type=chunk)[305](index=305&type=chunk) - Shareholders holding not less than **10%** of the company's paid-up share capital have the right to request the convening of a special general meeting[322](index=322&type=chunk)[323](index=323&type=chunk) [Report of the Directors](index=66&type=section&id=%E8%91%A3%E4%BA%8B%E5%B1%80%E5%A0%B1%E5%91%8A%E6%9B%B8) This report covers the Group's performance, principal risks, dividend policy, and interests of directors and major shareholders in the company's shares [RESULTS AND DIVIDENDS](index=67&type=section&id=RESULTS%20AND%20DIVIDENDS) The Board proposed a final dividend of 8.0 HK cents per share, bringing the total full-year dividend to 11.8 HK cents per share FY2025 Dividend Distribution | Dividend Type | Amount per Share (HK cents) | | :--- | :--- | | Interim Dividend | 3.8 | | Proposed Final Dividend | 8.0 | | **Total Full-Year Dividend** | **11.8** | [PRINCIPAL RISKS AND UNCERTAINTIES](index=69&type=section&id=PRINCIPAL%20RISKS%20AND%20UNCERTAINTIES) The Group faces risks from macroeconomic factors, human resources challenges, and supply chain instability, which are managed through various mitigation strategies - **Macroeconomic Risks**: Mitigated through diversification of product lines and a customer base spanning 100 countries[373](index=373&type=chunk) - **Human Resources Risks**: Addressed by offering competitive remuneration, providing training, and maintaining good employee communication to attract and retain talent[374](index=374&type=chunk) - **Raw Material Supply Risks**: Managed by ensuring at least two suppliers for each raw material and signing long-term agreements with high-value strategic suppliers[375](index=375&type=chunk)[376](index=376&type=chunk) [DIRECTORS' INTERESTS AND SHORT POSITIONS IN SHARES, UNDERLYING SHARES AND DEBENTURES](index=79&type=section&id=DIRECTORS'%20INTERESTS%20AND%20SHORT%20POSITIONS%20IN%20SHARES,%20UNDERLYING%20SHARES%20AND%20DEBENTURES) This section discloses the interests of directors and substantial shareholders in the company's shares, with Chairman Lai Yuen CHIANG holding a combined interest of approximately 64.92% Directors' Long Positions in the Company's Shares (as of March 31, 2025) | Director's Name | Capacity | Interest in Ordinary Shares/Underlying Shares | Approx. % of Issued Ordinary Shares | | :--- | :--- | :--- | :--- | | Lai Yuen CHIANG | Beneficial owner | 9,730,000 | 1.54% | | | Other | 399,641,620 | 63.38% | | Hyo Young CHUNG | Beneficial owner | 2,666,000 | 0.42% | | Hing Kwong CHAN | Beneficial owner | 484,000 | 0.08% | | Anish LALVANI | Other | 652,000 | 0.10% | Substantial Shareholders' Long Positions in the Company's Shares (as of March 31, 2025) | Shareholder's Name | Capacity | Number of Ordinary Shares/Underlying Shares | Approx. % of Issued Ordinary Shares | | :--- | :--- | :--- | :--- | | Chen Hsong Investments | Beneficial owner | 399,641,620 | 63.38% | | David Michael WEBB | Interest in controlled corporation | 48,004,000 | 7.61% | [SHARE OPTIONS](index=84&type=section&id=SHARE%20OPTIONS) The company's share option scheme expired in September 2024, and as of March 31, 2025, there were 20,210,000 outstanding share options - As of March 31, 2025, the total number of outstanding share options was **20,210,000**, an increase from 18,460,000 at the beginning of the year, with 3,350,000 options granted and 1,600,000 options lapsed during the year[421](index=421&type=chunk)[1015](index=1015&type=chunk) - The 3,350,000 share options granted during the year had an exercise price of **HK$1.44 per share**, which was the same as the closing price on the day prior to the grant[421](index=421&type=chunk)[1003](index=1003&type=chunk)[1004](index=1004&type=chunk) [Independent Auditor's Report](index=92&type=section&id=%E7%8D%A8%E7%AB%8B%E6%A0%B8%E6%95%B8%E5%B8%AB%E5%A0%B1%E5%91%8A%E6%9B%B8) The auditor provides an opinion on the truth and fairness of the consolidated financial statements [OPINION](index=92&type=section&id=OPINION) The auditor issued an unqualified opinion, stating that the financial statements give a true and fair view of the Group's financial position and performance, highlighting the impairment of trade receivables as a key audit matter - The auditor issued an **unqualified opinion** on the Group's consolidated financial statements, concluding that they give a true and fair view of the Group's financial position[458](index=458&type=chunk)[460](index=460&type=chunk) - The key audit matter identified was the **"impairment of trade receivables"**; as of March 31, 2025, the net trade receivables amounted to HK$1.131 billion with an impairment provision of HK$91.633 million, and the auditor has assessed management's evaluation methods, inputs, and assumptions[469](index=469&type=chunk) [Consolidated Financial Statements](index=100&type=section&id=Consolidated%20Financial%20Statements) This section presents the Group's consolidated income statement, statement of financial position, and statement of cash flows for the financial year [Consolidated Income Statement](index=100&type=section&id=Consolidated%20Income%20Statement) The Group's revenue increased by 29% to HK$2.595 billion, resulting in a 53% rise in profit attributable to equity holders to HK$154 million Consolidated Income Statement Summary (For the year ended March 31) | (HK$ thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | 2,594,735 | 2,009,545 | | Gross Profit | 609,752 | 476,984 | | Profit Before Tax | 189,625 | 125,142 | | Profit for the Year | 154,005 | 98,859 | | Profit Attributable to Equity Holders of the Company | 154,386 | 100,853 | [Consolidated Statement of Financial Position](index=102&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) The Group's total assets grew by 5% to HK$4.359 billion, while total equity attributable to the company's equity holders stood at HK$3.082 billion Consolidated Statement of Financial Position Summary (As at March 31) | (HK$ thousands) | 2025 | 2024 | | :--- | :--- | :--- | | **Assets** | | | | Total Non-current Assets | 1,197,357 | 1,204,618 | | Total Current Assets | 3,161,607 | 2,939,132 | | **Total Assets** | **4,358,964** | **4,143,750** | | **Liabilities and Equity** | | | | Total Current Liabilities | 1,163,959 | 953,952 | | Total Non-current Liabilities | 106,633 | 115,729 | | **Net Assets** | **3,088,372** | **3,074,069** | | Equity Attributable to Equity Holders of the Company | 3,081,570 | 3,057,530 | [Consolidated Statement of Cash Flows](index=108&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) The Group experienced a net cash outflow from operating activities of HK$98.9 million, primarily due to an increase in inventories and trade receivables Consolidated Statement of Cash Flows Summary (For the year ended March 31) | (HK$ thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Net cash from/(used in) operating activities | (98,872) | 323,042 | | Net cash used in investing activities | (116,410) | (64,551) | | Net cash used in financing activities | (59,097) | (68,115) | | **Net increase/(decrease) in cash and cash equivalents** | **(274,379)** | **190,376** | | Cash and cash equivalents at beginning of year | 816,952 | 644,662 | | **Cash and cash equivalents at end of year** | **528,179** | **816,952** | [Notes to Financial Statements](index=111&type=section&id=Notes%20to%20Financial%20Statements) This section provides detailed explanations of the Group's accounting policies, key estimates, segment information, and financial risk management [5. OPERATING SEGMENT INFORMATION](index=160&type=section&id=5.%20OPERATING%20SEGMENT%20INFORMATION) The Group operates in three reportable segments based on customer location, with Mainland China and Hong Kong being the largest contributor to revenue and results FY2025 Segment Results | (HK$ thousands) | Mainland China and Hong Kong | Taiwan | Other overseas countries | | :--- | :--- | :--- | :--- | | **Segment Revenue** | 1,840,082 | 38,616 | 716,037 | | **Segment Results** | 183,370 | (1,610) | 26,825 | [21. TRADE AND BILLS RECEIVABLES](index=187&type=section&id=21.%20TRADE%20AND%20BILLS%20RECEIVABLES) Total trade and bills receivables increased to HK$1.574 billion, with a loss allowance of HK$91.63 million recognized for trade receivables Composition of Trade and Bills Receivables | (HK$ thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Net Trade Receivables | 1,130,754 | 1,011,630 | | Bills Receivables | 443,044 | 306,674 | | **Total** | **1,573,798** | **1,318,304** | - The loss allowance for trade receivables increased from HK$86.94 million at the beginning of the year to **HK$91.63 million** at year-end, mainly due to an increase in the expected credit loss rate for balances overdue for more than 180 days[892](index=892&type=chunk) [40. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES](index=226&type=section&id=40.%20FINANCIAL%20RISK%20MANAGEMENT%20OBJECTIVES%20AND%20POLICIES) The Group manages financial risks including interest rate, foreign currency, credit, and liquidity risks through monitoring, strict credit control, and liquidity planning - Foreign currency sensitivity analysis shows that changes in the RMB exchange rate against the HKD or USD have a significant impact on profit before tax; for instance, a **5% appreciation of the RMB against the HKD would decrease profit before tax by HK$14.86 million**[1090](index=1090&type=chunk) - The Group manages its capital by monitoring its net current asset position, which stood at **HK$1.998 billion** as of March 31, 2025, in line with its policy objective to maintain a healthy net current asset position[1107](index=1107&type=chunk)[1110](index=1110&type=chunk) [Five-Year Financial Summary](index=237&type=section&id=%E4%BA%94%E5%B9%B4%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) This section provides a summary of the Group's key financial performance and position over the last five fiscal years Five-Year Performance Summary (For the year ended March 31) | (HK$ thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | 2,594,735 | 2,009,545 | 2,312,584 | 2,728,763 | 2,360,553 | | Profit Before Tax | 189,625 | 125,142 | 158,941 | 238,568 | 270,802 | | Profit Attributable to Equity Holders of the Company | 154,386 | 100,853 | 130,289 | 213,309 | 203,021 | Five-Year Summary of Assets, Liabilities and Non-controlling Interests (As at March 31) | (HK$ thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Assets | 4,358,964 | 4,143,750 | 4,149,309 | 4,429,327 | 4,378,438 | | Total Liabilities | (1,270,592) | (1,069,681) | (1,081,128) | (1,200,865) | (1,365,392) |

Core Viewpoint - As of July 18, 160 stocks reached their 52-week highs, with notable performances from China New Economy Investment (00080), Aoyuan Group Equity (02905), and Zhong An Holdings Group (08462) showing high growth rates of 288.89%, 55.28%, and 50.00% respectively [1][2]. Summary by Category 52-Week High Performers - China New Economy Investment (00080) closed at 0.440, with a peak price of 0.700, achieving a growth rate of 288.89% [2]. - Aoyuan Group Equity (02905) closed at 0.218, with a peak price of 0.250, achieving a growth rate of 55.28% [2]. - Zhong An Holdings Group (08462) closed at 0.221, with a peak price of 0.228, achieving a growth rate of 50.00% [2]. - Other notable performers include Hualian International (00969) with a growth rate of 40.13% and Zhongke Bio (01237) with a growth rate of 37.25% [2]. Additional High Performers - Wanma Holdings (06928) closed at 0.550 with a growth rate of 30.43% [2]. - Lepu Biopharma-B (02157) closed at 7.940 with a growth rate of 24.54% [2]. - Other stocks with significant growth include ZhiJianYueDong (06860) at 17.14% and China Jindian Group (08281) at 17.12% [2]. 52-Week Low Performers - The document also lists stocks that reached their 52-week lows, with XI Ernan CO-U (09311) showing a decline of 16.10% [6]. - Other notable declines include XI Ernan CO (07311) at -12.62% and Haotian International Construction Investment (01341) at -5.70% [6].

Financial Performance - Revenue for the fiscal year ending March 31, 2025, was HKD 2,594,735, representing a 29% increase from HKD 2,009,545 in the previous year[2] - Profit before tax increased by 52% to HKD 189,625 from HKD 125,142 year-on-year[4] - Net profit attributable to equity holders rose by 53% to HKD 154,386 compared to HKD 100,853 in the prior year[2] - Basic earnings per share increased by 53% to HKD 24.5 from HKD 16.0[4] - Revenue from Mainland China and Hong Kong rose to HKD 1,840,082,000 in 2025, up 27% from HKD 1,449,902,000 in 2024[13] - Operating profit before tax increased to HKD 189,625,000 in 2025, representing a growth of 51.6% compared to HKD 125,142,000 in 2024[13] - The group's revenue from customer contracts reached HKD 2,594,735,000 in 2025, a 29.1% increase from HKD 2,009,545,000 in 2024[18] - International market revenue grew by 37% to HKD 716 million, up from HKD 522 million in the previous year[41] Assets and Liabilities - The total assets value was HKD 4,358,964, a 5% increase from HKD 4,143,750[2] - Total assets for the group increased from HKD 4,143,750,000 in 2024 to HKD 4,358,964,000 in 2025, marking an increase of approximately 5.2%[14] - The group’s liabilities increased from HKD 1,069,681,000 in 2024 to HKD 1,270,592,000 in 2025, an increase of approximately 18.7%[14] - The total net receivables from trade and notes amounted to HKD 1,573,798,000 in 2025, an increase from HKD 1,318,304,000 in 2024[25] - The net current assets stood at HKD 1,997,648, reflecting a 1% increase from HKD 1,985,180[6] - Cash and bank balances decreased to HKD 528,179 from HKD 825,777, indicating a significant reduction[6] - The group had no bank loans as of March 31, 2025, maintaining a net cash balance of HKD 667 million, down HKD 207 million from the previous year[47] Dividends and Shareholder Returns - The company declared a cash dividend of HKD 11.8 per share, up 48% from HKD 8.0 in the previous year[2] - The proposed final dividend is HKD 0.08 per share, compared to HKD 0.05 per share in the previous year, with a total dividend of HKD 0.118 per share for the fiscal year[31] - The company’s dividend payout for the year was HKD 55,487,000, down from HKD 64,945,000 in 2024, with a proposed final dividend of HKD 0.080 per share[24] Operational Highlights - The company launched new product lines including large two-plate injection molding machines and all-electric injection molding machines, catering to sectors like new energy vehicles and 3C electronics[42] - The company achieved a significant breakthrough with a 4,500-ton two-plate machine featuring a pre-melting technology capable of 280 kg injection volume, successfully delivered to overseas clients[42] - The establishment of a digital center aims to enhance decision-making and production efficiency through a unified data platform and process engine[43] - The company initiated the "Empowering Thousands of Industries" program, providing end-to-end solutions for various sectors, enhancing flexible production and refined operations[43] - The new "iChen Smart Family" intelligent production system was launched, offering solutions for smart factory construction and AI-based mold adjustment[44] Market and Economic Environment - The global economic environment remains uncertain, influenced by geopolitical tensions and trade protectionism, impacting the overall business landscape[34] - The company is actively managing market and financial risks amid increasing geopolitical tensions and trade protectionism[36] Corporate Governance and Compliance - The company has complied with all provisions of the corporate governance code, except for the rotation of directors every three years, as the chairman and CEO are not required to do so under Bermuda law[62] - The roles of the chairman and group president are held by the same individual, which the company deems suitable due to the individual's skills and experience[63] - The company has adopted a code of conduct for directors' securities trading, which meets or exceeds the standards set forth in the listing rules[64] - The independent auditor has agreed that the financial figures for the fiscal year ending March 31, 2025, are consistent with the preliminary financial statements[66] - The audit committee has reviewed the consolidated financial statements and discussed internal controls and financial reporting matters[67]

Core Points - As of June 13, 2025, Suchang Chai A (000570) closed at 5.49 yuan, down 2.49% from last week's 5.63 yuan [1] - The company's current total market capitalization is 3.874 billion yuan, ranking 161 out of 229 in the automotive parts sector and 3603 out of 5150 in the A-share market [1] Company Announcements - Suchang Chai A's wholly-owned subsidiary, Changzhou Changchai Benniu Diesel Engine Parts Co., Ltd., will be absorbed and merged by Changzhou Changniu Machinery Co., Ltd. [1] - The board of directors held the third temporary meeting of 2025, approving the merger proposal, which involves the absorption of all assets, liabilities, and rights of Changzhou Changchai Benniu Diesel Engine Parts Co., Ltd. by Changzhou Changniu Machinery Co., Ltd. [1] - The merger will not affect the company's operational performance or consolidated financial statements, and it does not constitute a related party transaction or a major asset restructuring [1]

Core Viewpoint - The planned acquisition of approximately 60% of Bochuang Intelligent Equipment Co., Ltd. by Yuehongyuan A has been terminated due to price disagreements after over five months of negotiations, jeopardizing the company's strategy to transition into the high-end equipment manufacturing sector [2][5]. Group 1: Acquisition Details - The acquisition process began on January 2, 2025, when Yuehongyuan A signed an agreement with the controlling shareholders of Bochuang Intelligent, aiming to expand into the intelligent injection molding equipment sector [4]. - An earnest money deposit of 130 million yuan was paid by Yuehongyuan A on January 23, 2025, and a bank guarantee was provided to secure the transaction [4][5]. - Despite ongoing due diligence and negotiations, the formal share transfer agreement was never signed, leading to the termination of the acquisition [4][5]. Group 2: Financial Performance - In 2024, Yuehongyuan A reported a revenue of 489.56 million yuan, a year-on-year increase of 38.98%, but faced a net loss of 47.70 million yuan, indicating struggles in its core real estate business [6][7]. - The company has emphasized the need for a "second growth curve," with the acquisition of Bochuang Intelligent seen as a critical step in this direction [6][8]. Group 3: Impact of Termination - The termination of the acquisition means that Bochuang Intelligent's plans for a backdoor listing through Yuehongyuan A have failed, marking another setback for the company, which had previously attempted to list on the STAR Market [5][6]. - Yuehongyuan A has stated that the risks from the termination are manageable, as the earnest money is secured through share pledges and bank guarantees, and it will not adversely affect existing operations [8].

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 1,208,819,000, representing a 21% increase from HKD 1,002,400,000 in the same period last year[4] - Profit before tax increased by 24% to HKD 78,997,000 compared to HKD 63,722,000 in the previous year[4] - Profit attributable to equity holders of the company rose by 29% to HKD 65,160,000 from HKD 50,501,000 year-on-year[4] - Basic earnings per share increased by 29% to HKD 10.3 cents, up from HKD 8.0 cents in the previous year[4] - The company reported a total comprehensive income of HKD 65,833,000 for the period, compared to a loss of HKD 68,907,000 in the previous year[19] - The group reported a cost of goods sold of HKD 931,845,000 for the six months ended September 30, 2024, up from HKD 755,902,000 in 2023, indicating an increase of 23.2%[68] - The group’s profit attributable to equity holders for the six months ended September 30, 2024, was HKD 65,160,000, an increase of 29.1% from HKD 50,501,000 in 2023[79] Assets and Liabilities - Total assets grew by 10% to HKD 4,335,067,000 compared to HKD 3,925,071,000 in the previous year[4] - Total liabilities increased to HKD 1,225,705,000 from HKD 1,069,681,000, representing a rise of approximately 14.6%[23] - Current assets increased to HKD 3,136,760,000 from HKD 2,939,132,000, reflecting a growth of approximately 6.7%[22] - The company's net asset value reached HKD 3,109,362,000, compared to HKD 3,074,069,000, marking an increase of about 1.2%[23] - Current liabilities rose to HKD 1,113,453,000 from HKD 953,952,000, which is an increase of approximately 16.7%[22] Dividends - The company declared an interim dividend of HKD 3.8 cents per share, a 27% increase from HKD 3.0 cents in the previous year[4] - The group declared an interim dividend of HKD 0.038 per share for the six months ended September 30, 2024, totaling HKD 23,960,000, compared to HKD 0.030 per share and HKD 18,916,000 in the same period of 2023[78] Cash Flow - Net cash inflow from operating activities for the six months ended September 30, 2024, was HKD 59,949,000, a decrease of 64.1% compared to HKD 165,923,000 for the same period in 2023[50] - The company reported a net cash outflow from investing activities of HKD 82,146,000 for the six months ended September 30, 2024, compared to HKD 49,336,000 in the previous year, reflecting a significant increase in investment expenditures[50] - Total cash and cash equivalents at the end of the period were HKD 762,235,000, up from HKD 692,410,000 year-over-year, indicating an increase of approximately 10.06%[50] Stock Options and Equity - The company’s total issued share capital remained at 63,053,000 shares as of September 30, 2024, consistent with the previous reporting period[36] - A total of 3,350,000 stock options were granted on September 16, 2024, representing approximately 0.53% of the company's issued ordinary shares[106] - The maximum number of ordinary shares that can be issued under the stock option plan is 63,053,160, equivalent to 10% of the company's issued share capital[97] - The company has no treasury shares as of September 30, 2024[190] Market and Operational Insights - The group launched several new products, including a 550-ton dual-board model and various electric and hybrid models, enhancing product adaptability and customer production efficiency[140] - The group is collaborating with Rockwell Automation to implement a phased smart factory upgrade, aiming to enhance production efficiency and management through advanced technology[143] - The overall economic environment in mainland China remains stable, with a GDP growth target of around 5% for the fiscal year[136] - The group plans to expand its technical service centers in Brazil, India, and Vietnam to strengthen local market presence and customer service[139] Risk Management - Effective risk management plays a crucial role in achieving the group's strategic objectives, ensuring long-term business adaptability[200] - The audit committee continues to review the group's risk management and internal control systems for the six months ending September 30, 2024[200] - Details of the group's risk management and internal control systems are available in the 2023/24 annual report, specifically in the corporate governance report on pages 48 to 49[200] Employee and Management Compensation - The total number of full-time employees increased to approximately 2,500 from 2,400 as of March 31, 2024, reflecting the company's commitment to competitive compensation and employee development[157] - The company’s management compensation totaled HKD 4.582 million for the six months ended September 30, 2024, slightly up from HKD 4.534 million in the previous year[125]

Financial Performance - The company reported a revenue of HKD 1,208,819,000 for the six months ending September 30, 2024, representing a 21% increase from HKD 1,002,400,000 in the same period last year[2]. - Profit attributable to equity holders was HKD 65,160,000, up 29% from HKD 50,501,000 year-on-year[3]. - Basic earnings per share increased to HKD 10.3 cents, a 29% rise compared to HKD 8.0 cents in the previous year[3]. - The gross profit for the period was HKD 276,974,000, compared to HKD 246,498,000 last year[4]. - Total comprehensive income for the period was HKD 65,833,000, compared to a loss of HKD 68,907,000 in the same period last year[6]. - The adjusted profit before tax for the group was HKD 78,997,000, compared to HKD 63,722,000 in the previous year, marking a 24% increase[18]. - The cost of goods sold for the period was HKD 931,845,000, up from HKD 755,902,000, indicating a rise in production costs[18]. Assets and Equity - The total assets reached HKD 4,335,067,000, reflecting a 10% growth from HKD 3,925,071,000[2]. - The company's net current assets amounted to HKD 2,023,307,000, a 5% increase from HKD 1,926,849,000[2]. - The company's total equity attributable to equity holders increased to HKD 3,094,076,000, up from HKD 2,935,393,000, a 5% rise[2]. - As of September 30, 2024, the group's net current assets amounted to HKD 20.23 billion, a 2% increase from HKD 19.85 billion on March 31, 2024[49]. - Cash and bank balances (including pledged deposits) were HKD 8.94 billion, up from HKD 8.74 billion on March 31, 2024, reflecting an increase of HKD 200 million[49]. - The group has no bank loans as of September 30, 2024, maintaining a net cash position of HKD 8.94 billion[49]. Revenue Segmentation - Revenue from the mainland China and Hong Kong segment reached HKD 890,834,000, a 22.6% increase from HKD 726,760,000 in the same period last year[16]. - The Taiwan segment reported revenue of HKD 21,441,000, up from HKD 17,805,000, while the segment incurred a loss of HKD 4,848,000 compared to a loss of HKD 2,993,000 last year[16]. - Revenue from other overseas countries was HKD 296,544,000, an increase of 15% from HKD 257,835,000 in the previous year[16]. - The group's total revenue for the six months ended September 30, 2024, was HKD 1,208,819,000, compared to HKD 1,002,400,000 for the same period in 2023, reflecting a growth of 20.6%[16]. - The company's revenue from mainland China and Hong Kong reached HKD 891 million, a 23% increase from HKD 727 million in the previous year[43]. - Revenue from Taiwan increased by 17% to HKD 21 million, up from HKD 18 million in the previous year[43]. - International market revenue rose by 16% to HKD 297 million, compared to HKD 257 million in the previous year[45]. Dividends - The company declared a cash dividend of HKD 3.8 cents per share, a 27% increase from HKD 3.0 cents previously[2]. - The company declared an interim dividend of HKD 0.038 per share, totaling HKD 23,960,000, compared to HKD 0.030 per share and HKD 18,916,000 in the previous year[23]. - Basic earnings per share for the period were HKD 65,160,000, an increase from HKD 50,501,000 in the same period last year[24]. - The company declared an interim dividend of HKD 0.038 per share, up from HKD 0.030 per share in the previous year[37]. Operational Insights - The company launched several new products, including a 550-ton dual-board model and various electric and hybrid models, enhancing its product line[47]. - The company achieved a breakthrough in pre-melting technology with a shot weight of 280 kg, successfully implemented in a 4500-ton dual-board machine[48]. - The total number of full-time employees as of September 30, 2024, was approximately 2,500, up from 2,400 on March 31, 2024[62]. Market Outlook and Strategy - The GDP growth rate in mainland China is projected to remain around 5%, supported by government investment in infrastructure and manufacturing[44]. - The overall economic environment remains uncertain, with inflation easing but geopolitical tensions and high public debt posing risks to global stability[40]. - The group anticipates facing multiple challenges in the second half of the fiscal year, with a conservative investment attitude from global customers due to market uncertainties[63]. - The strategy for the second half of the year includes increased resources for market promotion, launching more industry-specific models, and technological innovation[63]. Financial Management and Risks - The group has implemented a robust financial management policy to ensure sufficient liquidity for capital investments and operational needs[50]. - The group has assessed foreign currency risks and has strategies in place to mitigate these risks, particularly concerning fluctuations in the Renminbi[59]. - The group has not made any significant investments, acquisitions, or disposals in its subsidiaries or associates during the six months ended September 30, 2024[54]. Compliance and Governance - The company has adopted a code of conduct for directors' securities trading, which is at least as stringent as the standards set out in the Listing Rules Appendix C3[66]. - No purchases, sales, or redemptions of the company's listed securities were made by the company or any of its subsidiaries in the six months ending September 30, 2024[68]. - The audit committee and management have reviewed the unaudited interim results for the six months ending September 30, 2024, including discussions on internal controls and financial reporting matters[69].

Financial Performance - The company's profit for the year 2024 is HKD 98,859,000, a decrease of 23.3% from HKD 128,785,000 in 2023[1] - Total comprehensive income for the year is HKD 69,627,000, compared to a loss of HKD 62,502,000 in the previous year[1] - Revenue from customer contracts for 2024 is HKD 2,009,545,000, down 13.1% from HKD 2,312,584,000 in 2023[12] - Profit attributable to equity holders fell by 23% to HKD 101 million (2023: HKD 130 million), with basic earnings per share at HKD 0.16 (2023: HKD 0.207)[40] - The group recorded total revenue of HKD 2.010 billion for the fiscal year ending March 31, 2024, a decrease of 13% from HKD 2.313 billion in 2023, with a 4% impact from the depreciation of the RMB against the USD[40] - Profit before tax for the same period was HKD 125,142 thousand, down 21% from HKD 158,941 thousand year-on-year[79] - The company reported a basic earnings per share of HKD 0.160, down from HKD 0.207, reflecting a 23% decrease[79] - The company’s cash dividend per share was HKD 0.080, a reduction of 32% from HKD 0.118 in the previous year[79] Revenue Breakdown - Revenue from customer contracts in Mainland China and Hong Kong is HKD 1,449,902,000, a decrease from HKD 1,670,556,000 in 2023[12] - Revenue from mainland China and Hong Kong decreased by 13% to HKD 1.450 billion (2023: HKD 1.671 billion), while Taiwan's revenue plummeted by 40% to HKD 38 million (2023: HKD 63 million)[44] - The international market revenue declined by 10% to HKD 522 million (2023: HKD 579 million), with significant challenges in Vietnam due to reduced foreign investment and weak European consumer markets[47] - The group’s performance in the mainland Chinese market was impacted by weak consumer demand and overcapacity, leading to a 13% drop in revenue to HKD 1.450 billion (2023: HKD 1.671 billion)[46] Assets and Liabilities - Non-current assets total HKD 1,204,618,000 in 2024, an increase from HKD 1,178,385,000 in 2023[2] - Current assets amount to HKD 2,939,132,000, slightly down from HKD 2,970,924,000 in the previous year[2] - Current liabilities total HKD 953,952,000, compared to HKD 980,520,000 in 2023[2] - The net current asset value is HKD 1,985,180,000, a slight decrease from HKD 1,990,404,000 in 2023[2] - The total assets value was HKD 4,143,750 thousand, showing no significant change from HKD 4,149,309 thousand in the previous year[79] - The total liabilities ratio is not reported as the group holds a net cash balance as of March 31, 2024[115] Cash Flow and Financial Management - Cash and bank deposits (including pledged deposits) increased to HKD 874 million from HKD 671 million in 2023, representing a year-on-year increase of HKD 203 million[16] - The group has maintained a robust financial management policy, ensuring sufficient liquidity to meet capital investment and operational funding needs[27] - The group has pledged trade receivables of HKD 73,307,000 as of March 31, 2024, down from HKD 93,639,000 in 2023, indicating a decrease of 21.7%[50] Market and Economic Outlook - The group anticipates a cautious outlook for the coming year, acknowledging both challenges and opportunities in the political and economic landscape[31] - The overall economic environment remains challenging, with high interest rates and global inflation impacting consumer spending and business operations across various markets[40] - Current global economic forecasts indicate that over half of economists expect continued weakening in the global economy next year, with cautious expectations for economic prospects[127] Research and Development - Eleven new patents were added during the fiscal year, including two invention patents[26] - The group plans to complete the innovative R&D center and new logistics center in Shenzhen, enhancing production capacity resilience[26] Employee and Workforce - The number of full-time employees increased to approximately 2,400, up from 2,300 in the previous year, reflecting a growth in workforce[119]