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12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: 寶光實業（國際）有限公司 呈交日期: 2026年1月5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) | 00084 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,600,000,000 | HKD | | 0.1 HKD | | 160,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,600,000,000 | HKD | | 0.1 HKD | | 160,000,000 | 本月底法定/註冊股本總額： HKD 160,000 ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 296,930,000, a decrease of 1.0% compared to HKD 302,242,000 in the same period of 2024[5] - Gross profit for the period was HKD 126,626,000, down 10.8% from HKD 141,919,000 year-on-year[5] - The company reported a loss before tax of HKD 37,547,000, an improvement from a loss of HKD 52,049,000 in the previous year, indicating a reduction in losses by 28.0%[5] - Net loss for the period was HKD 40,275,000, compared to a net loss of HKD 55,268,000 in the same period last year, reflecting a 27.1% decrease in losses[5] - Basic and diluted loss per share was HKD 3.89, improved from HKD 5.30 in the previous year[5] - The group reported a loss attributable to equity holders of HKD 40.4 million for the first half of 2025, an improvement from a loss of HKD 55.4 million in the same period of 2024[40] - Adjusted loss for the first half of 2025 was HKD 42.1 million, a reduction of HKD 22.5 million compared to an adjusted loss of HKD 64.6 million in the first half of 2024, mainly due to stricter cost control[40] Cash Flow and Assets - Cash generated from operating activities was HKD 44,035,000, significantly higher than HKD 18,558,000 in the prior year, marking an increase of 137.0%[8] - Total assets as of September 30, 2025, amounted to HKD 1,446,795,000, up from HKD 1,426,127,000 as of March 31, 2025[7] - Cash and cash equivalents at the end of the period were HKD 90,913,000, compared to HKD 71,731,000 at the end of the same period last year, reflecting a year-on-year increase of 26.6%[8] - The total equity of the group as of September 30, 2025, was HKD 920.3 million[51] - As of September 30, 2025, the group's net debt was HKD 155.6 million, resulting in a debt-to-equity ratio of 17.0%[49] Revenue Segmentation - The retail segment in Hong Kong, Macau, and mainland China generated revenue of HKD 94.9 million, while the remaining Asian regions contributed HKD 95.4 million[13] - Retail business contributed HKD 190.3 million to the group's revenue, down 5.7% from HKD 201.9 million in the first half of 2024[40] - The group's revenue from the "Time Corridor" business in Hong Kong and Macau for the first half of 2025 was HKD 94.9 million, down 8.9% from HKD 104.2 million in the same period of 2024[43] - Southeast Asia revenue for the first half of 2025 reached HKD 95.4 million, an 8% increase from HKD 88.4 million in the first half of 2024[46] - The watch supply chain and wholesale trade segment's revenue increased by 6.2% to HKD 106.6 million, with a profit of HKD 9.8 million, down from HKD 11.0 million in the first half of 2024[47] Operational Efficiency - The company’s administrative expenses for the period were HKD 13.0 million, contributing to the overall loss[13] - The group recorded a loss before interest and tax of HKD 14.2 million in the first half of 2025, compared to a loss of HKD 9.8 million in the first half of 2024[46] - Same-store sales recorded a positive growth of 4% in the first half of 2025, indicating improved performance at the store level despite overall revenue decline[40] - The number of stores in the "Time Corridor" business decreased by 14% year-on-year due to store integration efforts to enhance operational efficiency[43] Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[21] - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO, which the board deems appropriate[70] - The board believes that the dual role of Mr. Huang Chuangzeng as both Chairman and CEO enhances strategic planning and operational efficiency for the company[69] - The audit committee reviewed the effectiveness of the internal control system and discussed financial reporting matters for the six months ending September 30, 2025[74] Strategic Initiatives - The group plans to continue investing in online business to enhance digital coverage and customer experience[48] - The group has ceased operations of retail stores and online platforms in mainland China as part of strategic measures to streamline business operations[45] - The company adopted new accounting standards effective from April 1, 2025, which did not have a significant impact on the financial results[11] Shareholder Information - As of September 30, 2025, Mr. Huang Chuangzeng holds a total of 549,436,714 shares, representing 52.59% of the issued shares of the company[60] - Mr. Huang Chuangzeng has significant interests in subsidiary companies, including 209,000 preferred shares in City Chain (Thailand) Company Limited, representing 99.52% of the issued preferred shares[61] - The company did not repurchase any shares during the reporting period, nor did it purchase or sell any shares of the company or its subsidiaries[68]

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立的有限公司） (Stock Code 股份代號: 84) Dear registered shareholder(s), Stelux Holdings International Limited (the "Company") –Notice of Publication of 2025/2026 Interim Report ("Current Corporate Communication") and Arrangement of Electronic Dissemination of Corporate Communications The English and Chinese versions of the Company's Current Corporate Communication are available on the Company's website at http://www.stelux.com and the HKEXnews website of Hong K ...

The English and Chinese versions of the Company's Current Corporate Communication are available on the Company's website at http://www.stelux.com and the HKEXnews website of Hong Kong Exchanges and Clearing Limited ("HKEX") at http://www.hkexnews.hk. You may access the Current Corporate Communication browsing through the Company's website of the HKEX's HKEXnews website. Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07A of the Rules Governing The Listing of Securities ...

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 寶光實業（國際）有限公司 II. 已發行股份及/或庫存股份變動 | 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) | 00084 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,036,919,025 | | 7,839,000 | | 1,044,758,025 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 1,036,919,025 | | 7,839,000 | | 1,044,758,025 | 第 2 頁 共 10 頁 v 1.1.1 呈交日期: 2 ...

Core Viewpoint - Baoguang Industrial (00084) reported a revenue of HKD 297 million for the six months ending September 30, 2025, representing a year-on-year decrease of 1.76% [1] - The company recorded a loss attributable to equity holders of HKD 40.373 million, a reduction of 27.07% compared to the previous year [1] - The decrease in adjusted losses is primarily attributed to stricter cost control and improved operational efficiency through store integration [1] Financial Performance - Revenue for the period was HKD 297 million, down 1.76% year-on-year [1] - Loss attributable to equity holders was HKD 40.373 million, a decrease of 27.07% year-on-year [1] - Basic loss per share was HKD 0.0389 [1] Operational Efficiency - The reduction in adjusted losses is linked to enhanced cost control measures [1] - Operational efficiency was improved through the integration of stores [1]

Core Points - The company reported a revenue of HKD 297 million for the six months ending September 30, 2025, representing a year-on-year decrease of 1.76% [1] - The loss attributable to equity holders for the period was HKD 40.373 million, a reduction of 27.07% compared to the previous year [1] - The basic loss per share was HKD 0.0389 [1] - The decrease in adjusted loss was primarily due to stricter cost control and improved operational efficiency through store integration [1]

Core Viewpoint - Baoguang Industrial (00084.HK) reported a decrease in revenue and a net loss for the six months ending September 30, 2025, indicating ongoing financial challenges despite some improvements in adjusted losses [1] Financial Performance - Revenue for the period was HKD 297 million, a decrease of 1.76% year-on-year [1] - The net loss was HKD 40.373 million, an improvement from a loss of HKD 55.355 million in the same period last year [1] - Basic loss per share was HKD 0.0389 [1] Special Items Impact - The reported loss included two special items: - Interest income of HKD 6.3 million from the sale of a subsidiary [1] - Non-cash impairment loss on property of HKD 4.6 million [1] - After adjusting for these special items, the adjusted loss for the first half of 2025 was HKD 42.1 million, a reduction of HKD 22.5 million compared to an adjusted loss of HKD 64.6 million in the first half of 2024 [1] Operational Efficiency - The reduction in adjusted losses was primarily attributed to stricter cost control and improved operational efficiency through store integration [1]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 296,930,000, a decrease of 1.0% from HKD 302,242,000 in the same period of 2024[3] - Gross profit for the same period was HKD 126,626,000, down 10.8% from HKD 141,919,000 in 2024[3] - The company reported a loss before tax of HKD 37,547,000, an improvement from a loss of HKD 52,049,000 in the previous year, representing a 27.9% reduction in losses[3] - The net loss for the period was HKD 40,275,000, compared to a net loss of HKD 55,268,000 in 2024, indicating a 27.1% improvement[3] - Basic and diluted loss per share was HKD 3.89, improved from HKD 5.30 in the same period last year[5] - The group reported a loss attributable to equity holders of HKD 40.4 million for the first half of 2025, an improvement from a loss of HKD 55.4 million in the first half of 2024[27] Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 1,446,795,000, an increase from HKD 1,426,127,000 as of March 31, 2025[6] - Total liabilities increased to HKD 526,515,000 from HKD 506,696,000, reflecting a rise of 3.2%[7] - Non-current assets decreased to HKD 976,719,000 from HKD 980,270,000, a decline of 0.4%[6] - Cash and cash equivalents increased to HKD 90,913,000 from HKD 83,339,000, showing an increase of 9.5%[6] - The total liabilities of the group as of September 30, 2025, were HKD 526,515,000, compared to HKD 506,696,000 as of March 31, 2025, showing an increase of approximately 3.9%[14] - As of September 30, 2025, the group's current assets and current liabilities were approximately HKD 470.1 million and HKD 461.6 million, respectively, resulting in a current ratio of approximately 1.02[41] Revenue Segmentation - The company has two operating segments: retail and wholesale of watches, with performance evaluated based on regions including Hong Kong, Macau, and mainland China[12] - For the six months ended September 30, 2025, total revenue from watch retail was HKD 366,299,000, a decrease from HKD 371,054,000 in the same period of 2024, representing a decline of approximately 1.9%[13] - Retail business contributed HKD 190.3 million to the group's revenue in the first half of 2025, down 5.7% from HKD 201.9 million in the same period of 2024[27] - The group's supply chain and wholesale trade segment revenue increased by 6.2% to HKD 106.6 million, with a profit of HKD 9.8 million compared to HKD 11.0 million in the first half of 2024[34] Operational Highlights - Same-store sales recorded a positive growth of 4% in the first half of 2025, indicating improved performance at the store level despite the overall revenue decline[27] - The group's online store in Hong Kong continued to be profitable, benefiting from the successful launch of several IP products, with online sales in Southeast Asia growing approximately 4% year-on-year[32][33] - The group operates approximately 75 stores under the "Time Corridor" brand across Hong Kong, Macau, Singapore, Thailand, and Malaysia[29] Cost and Expenses - The group’s administrative expenses for the six months ended September 30, 2025, were HKD 13,015,000, compared to HKD 15,719,000 for the same period in 2024, indicating a decrease of approximately 17.2%[15] - The total employee cost incurred during the period was HKD 81.733 million, compared to HKD 94.980 million for the same period last year[46] Debt and Equity - As of September 30, 2025, the group's net debt was HKD 155.6 million, resulting in a debt-to-equity ratio of 17.0%, down from 17.4% as of March 31, 2025[37] Corporate Governance - The group did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[20] - The group did not engage in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[44] - The group maintained its capital structure without any changes during the period[47] - The company has adopted the scope of the remuneration committee as per the code, excluding the part related to reviewing and determining the remuneration of senior management[54] - The audit committee reviewed the effectiveness of the internal control system for the six months ending September 30, 2025, and discussed the financial reporting matters[55] - The remuneration committee determined the basic salary for executive directors for the fiscal year ending March 31, 2026[56] - The nomination committee nominated Ms. Liao Jingwei for re-election as an executive director and Mr. Li Qiming for re-election as an independent non-executive director[57] - The company has adopted the standard code for securities trading by directors as per the listing rules[59] - All directors have complied with the provisions of the standard code during the six months ending September 30, 2025[61] Future Outlook - The group plans to continue investing in online business to enhance digital coverage and improve customer experience, aiming for meaningful synergies between online and offline channels[36] - The group will maintain a cautious yet proactive approach in 2026, leveraging its robust strategies and flexible operating model to navigate ongoing macroeconomic uncertainties[35] Miscellaneous - The group had contingent liabilities totaling approximately HKD 8.209 million as of September 30, 2025, related to rental deposits and bank guarantees[42] - The total value of properties, machinery, equipment, and investment properties mortgaged to banks was approximately HKD 507.028 million[42] - The provision for executive bonuses under the executive bonus plan was HKD 1 million for the six months ended September 30, 2025[45] - The average number of issued ordinary shares for the six months ended September 30, 2025, was 1,036,919,000, compared to 1,044,882,000 for the same period in 2024[22] - The company's interim report for the 2025/2026 fiscal year will be sent to shareholders and uploaded to the relevant websites at an appropriate time[62] - The chairman and CEO of the company is Chumphol Kanjanapas, with Suriyan Kanjanapas as vice-chairman and Liao Jingwei as CFO[63]

Core Viewpoint - The company anticipates a net loss attributable to equity holders of approximately HKD 35 million to HKD 50 million for the six months ending September 30, 2025, which represents an improvement compared to a net loss of HKD 55.4 million in the same period of 2024 [1] Financial Performance - The expected loss for the first half of 2025 is a reduction from the previous year's loss due to stringent cost control and operational efficiency improvements through store integration [1] - The company recorded approximately 4% same-store sales growth in its retail locations during the first half of 2025 [1] Future Outlook - The company plans to continue investing resources in online platforms to create a seamless and enriched shopping experience for customers through the synergy of online and offline operations [1]