CHAMPION TECHNOLOGY HOLDINGS LIMITED 冠軍科技集團有限公司 (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：92） NOTIFICATION LETTER 通知信函 28 October 2025 By order of the Board CHAMPION TECHNOLOGY HOLDINGS LIMITED Wong Man Winny Chairperson Dear Registered Shareholders. Note: Corporate Communications include any document(s) issued or to be issued by the Company for the information or action of holders of any of its securities or the investing public, including but not limited to (a) the ...

CONTENTS 目錄 2 About This Report 關於本報告 2 Reporting Standard 報告準則 2 Reporting Scope 報告範圍 3 Board's Statement 董事會聲明 3 Confirmation and Approval 確認及批准 3 Comments and Feedback 意見及反饋 4 Stakeholders Engagement 持份者參與 8 Materiality Assessment 重要性評估 11 Environmental Protection 環境保護 21 Social Responsibility 社會責任 ABOUT THIS REPORT This report summarises several subjects of Champion Technology Holdings Limited (the "Company", together with its subsidiaries, collectively the "Group" or "we") of business practices for the ...

△ 按2021年12月供股而作出調整 CONTENTS 目錄 | 2 | Financial Highlights | | --- | --- | | | 財務撮要 | | 3 | Corporate Information | | | 企業資料 | | 5 | Chairperson's Statement | | | 主席報告 | | 8 | Management Discussion and Analysis | | | 管理層討論及分析 | | 40 | Directors and Senior Management Profile | | | 董事及高層管理人員 | | 44 | Directors' Report | | | 董事會報告 | | 57 | Corporate Governance Report | | | 企業管治報告 | | 83 | Independent Auditor's Report | | | 獨立核數師報告 | | 90 | Consolidated Statement of Profit or Loss and Other Comprehensive Income ...

[Company Information and Report Overview](index=1&type=section&id=Company%20Information%20and%20Report%20Overview) This section provides an overview of Champion Technology Holdings Limited and its annual results for the year ended June 30, 2025 [Report Statement and Company Profile](index=1&type=section&id=Report%20Statement%20and%20Company%20Profile) Champion Technology Holdings Limited released its annual results announcement for the year ended June 30, 2025 - Company Name: **CHAMPION TECHNOLOGY HOLDINGS LIMITED**[2](index=2&type=chunk) - Reporting Period: Year ended **June 30, 2025**[2](index=2&type=chunk) [Consolidated Financial Results](index=1&type=section&id=Consolidated%20Financial%20Results) This section presents the Group's consolidated financial performance and position for the year ended June 30, 2025 [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the year ended June 30, 2025, the Group's revenue significantly decreased by 72.7% to HK$57,311 thousand, with loss for the year expanding to HK$50,309 thousand Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 57,311 | 208,612 | -72.7% | | Cost of sales | (53,073) | (197,212) | -73.1% | | Gross profit | 4,238 | 11,400 | -62.9% | | Other income, gains and losses | 4,792 | 2,246 | +113.4% | | General and administrative expenses | (37,565) | (22,692) | +65.5% | | Loss before tax | (51,445) | (12,776) | +302.7% | | Loss for the year | (50,309) | (12,222) | +311.6% | | Loss for the year attributable to owners of the Company | (44,226) | (12,420) | +256.1% | | Basic and diluted loss per share | (5.03) HK cents | (1.82) HK cents | +176.4% | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets slightly increased, with non-current assets rising to HK$45,629 thousand and net current assets growing to HK$74,935 thousand Key Data from Consolidated Statement of Financial Position | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | 45,629 | 42,383 | +7.7% | | Current assets | 256,551 | 220,006 | +16.6% | | Current liabilities | 181,616 | 157,820 | +15.1% | | Non-current liabilities | 11,284 | 8,100 | +39.3% | | Net current assets | 74,935 | 62,186 | +20.5% | | Net assets | 109,280 | 96,469 | +13.3% | | Equity attributable to owners of the Company | 115,423 | 96,494 | +19.6% | [Notes to the Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes and disclosures supporting the Group's consolidated financial statements [Basis of Preparation and Going Concern](index=5&type=section&id=Basis%20of%20Preparation%20and%20Going%20Concern) The Group has incurred losses for several consecutive years, with a net loss of HK$50,309 thousand this year, indicating significant going concern uncertainty - The Group has incurred losses for several consecutive years, with a net loss of **HK$50,309 thousand** this year, indicating significant going concern uncertainty[7](index=7&type=chunk)[32](index=32&type=chunk) - Management has implemented various measures to address going concern risks, including strengthening cost control, securing financial support from major shareholders, launching new hydrogen-oxygen generator business, and negotiating repayment schedules with trade creditors and debtors[7](index=7&type=chunk)[8](index=8&type=chunk) - The Directors believe the Group has sufficient cash resources and strong fundraising capabilities, making the preparation of financial statements on a going concern basis appropriate[8](index=8&type=chunk) [Application of Updated and Revised Hong Kong Financial Reporting Standards](index=6&type=section&id=Application%20of%20Updated%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group adopted several new and revised HKFRS this year, which had no material impact on financial performance, position, or disclosures for current and prior periods - The Group first applied several new and revised Hong Kong Financial Reporting Standards, including lease liabilities in sale and leaseback transactions, classification of liabilities, non-current liabilities with covenants, and supplier finance arrangements[10](index=10&type=chunk) - The application of new standards had no material impact on the financial performance and position for the current and prior years, though HKFRS 18 is expected to affect the presentation of profit or loss[10](index=10&type=chunk)[11](index=11&type=chunk) [Revenue and Segment Information](index=7&type=section&id=Revenue%20and%20Segment%20Information) Group revenue primarily from technology businesses significantly decreased by 72.7%, with smart city solutions contributing less, and operations segmented into five reportable categories - Group revenue refers to amounts received and receivable from the sale of products and provision of services to external customers[13](index=13&type=chunk) - The Group's operations are divided into five reportable segments: sale of cultural products, technology (smart city solutions, renewable energy), trading of refined oil and related businesses, and strategic investments[14](index=14&type=chunk) - Segment results represent the profit or loss before tax recognized by each reportable segment, excluding interest income, gains or losses on disposal of subsidiaries, fair value gains or losses on investment properties, finance costs, and unallocated income and expenses[15](index=15&type=chunk) [Revenue Composition](index=7&type=section&id=Revenue%20Composition) In 2025, smart city solutions revenue was HK$48,749 thousand and renewable energy products revenue was HK$8,562 thousand, totaling HK$57,311 thousand, a significant year-on-year decrease Revenue Composition | Revenue Source | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Technology—Smart City Solutions | 48,749 | 179,878 | -72.9% | | Technology—Design and Sale of Renewable Energy Products and Solutions | 8,562 | 28,734 | -70.2% | | **Total Revenue** | **57,311** | **208,612** | **-72.7%** | [Operating Segment Results](index=8&type=section&id=Operating%20Segment%20Results) In 2025, the smart city solutions segment reported a loss of HK$40,483 thousand, while strategic investments recorded a gain of HK$7,150 thousand, narrowing the overall segment loss Operating Segment Results (2025) | Segment | Revenue ('000 HKD) | Segment Results ('000 HKD) | | :--- | :--- | :--- | | Sale of Cultural Products | — | (285) | | Technology: Smart City Solutions | 48,749 | (40,483) | | Technology: Renewable Energy | 8,562 | 3 | | Strategic Investments | — | 7,150 | | Trading of Refined Oil and Others | — | (64) | | Shipping Business | — | — | | **Consolidated** | **57,311** | **(33,679)** | Operating Segment Results (2024) | Segment | Revenue ('000 HKD) | Segment Results ('000 HKD) | | :--- | :--- | :--- | | Sale of Cultural Products | — | (116) | | Technology: Smart City Solutions | 179,878 | (2,667) | | Technology: Renewable Energy | 28,734 | 1,363 | | Strategic Investments | — | (36,578) | | Trading of Refined Oil and Others | — | 261 | | Shipping Business | — | (10) | | **Consolidated** | **208,612** | **(37,747)** | [Gain on Disposal of a Subsidiary](index=11&type=section&id=Gain%20on%20Disposal%20of%20a%20Subsidiary) The Group completed the disposal of 100% equity in Liancheng Enterprise Limited for HK$45,900 thousand cash, realizing a gain of HK$32,136 thousand to streamline operations - The Group completed the disposal of 100% equity in Liancheng Enterprise Limited on **October 30, 2023**, for a cash consideration of **HK$45,900 thousand**[19](index=19&type=chunk)[20](index=20&type=chunk) - The disposal of the subsidiary generated a gain of **HK$32,136 thousand** and net cash inflow of **HK$45,897 thousand**[20](index=20&type=chunk) [Income Tax](index=12&type=section&id=Income%20Tax) Income tax credit increased to HK$(1,136) thousand in 2025, with varying tax rates for mainland China and Hong Kong entities Income Tax Credit | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | | :--- | :--- | :--- | | Current tax | 121 | 1,397 | | (Over-provision)/under-provision in prior years | (325) | (1,110) | | Deferred tax: credit for the year | (932) | (841) | | **Income Tax Credit** | **(1,136)** | **(554)** | - The corporate income tax rate for subsidiaries in mainland China is **25%**, and foreign-registered subsidiaries are subject to a **10%** withholding tax on income derived from mainland China[21](index=21&type=chunk) - Hong Kong profits tax adopts a two-tiered tax rate system, with the first **HK$2 million** of assessable profits taxed at **8.25%** and the remainder at **16.5%**[22](index=22&type=chunk) [Dividends](index=12&type=section&id=Dividends) No dividends were declared or proposed for the year ended June 30, 2025 - No dividends were declared or proposed for the year ended **June 30, 2025**[23](index=23&type=chunk) [Loss Per Share](index=13&type=section&id=Loss%20Per%20Share) Basic and diluted loss per share increased significantly to 5.03 HK cents in 2025 from 1.82 HK cents in 2024, primarily due to the expanded loss attributable to owners of the Company Loss Per Share | Indicator | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Loss for the year attributable to owners of the Company ('000 HKD) | (44,226) | (12,420) | +256.1% | | Weighted average number of ordinary shares ('000 shares) | 879,945 | 683,831 | +28.7% | | **Basic and Diluted Loss Per Share (HK cents)** | **(5.03)** | **(1.82)** | **+176.4%** | [Inventories](index=13&type=section&id=Inventories) As of June 30, 2025, total inventories slightly decreased to HK$6,894 thousand from HK$7,407 thousand in 2024 Inventory Composition | Inventory Category | 2025 ('000 HKD) | 2024 ('000 HKD) | | :--- | :--- | :--- | | Raw materials | 3,169 | 3,113 | | Work in progress | 269 | 720 | | Finished goods | 3,456 | 3,574 | | **Total Inventories** | **6,894** | **7,407** | [Trade and Other Receivables](index=14&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables decreased to HK$153,341 thousand, with a significant increase in impairment loss provisions and overdue trade receivables Trade and Other Receivables | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Trade receivables (net of allowance) | 115,526 | 142,837 | -19.1% | | Other receivables (net of allowance) | 37,815 | 38,908 | -2.8% | | **Total** | **153,341** | **181,745** | **-15.7%** | | Less: Allowance for impairment loss (trade receivables) | (47,135) | (7,529) | +526.0% | - Trade receivables overdue for more than **365 days** (net of expected credit losses) significantly increased from **HK$5,406 thousand** in 2024 to **HK$117,980 thousand** in 2025[27](index=27&type=chunk) - The Group grants credit terms of **30 to 180 days** to trade customers, with cultural product sales on a cash-on-delivery basis[26](index=26&type=chunk) [Loans Receivable](index=16&type=section&id=Loans%20Receivable) As of June 30, 2025, total loans receivable (net of impairment loss allowance) significantly increased to HK$48,978 thousand, primarily from fourteen borrowers, unsecured but personally guaranteed, with annual interest rates of 6% to 8.5% Loans Receivable | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Loans receivable | 50,712 | 6,798 | +645.9% | | Less: Allowance for impairment loss | (1,734) | (174) | +896.6% | | **Total (net of allowance)** | **48,978** | **6,624** | **+639.4%** | - In 2025, loans receivable were from **fourteen borrowers** (2024: three), unsecured and personally guaranteed, with fixed annual interest rates ranging from **6% to 8.5%**[29](index=29&type=chunk) [Trade and Other Payables](index=16&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables increased to HK$170,785 thousand, with a significant rise in trade payables overdue for more than one year Trade and Other Payables | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Trade payables | 113,750 | 86,770 | +31.1% | | Other payables | 57,035 | 64,475 | -11.5% | | **Total** | **170,785** | **151,245** | **+13.0%** | - Trade payables overdue for more than **one year** increased from **HK$1,064 thousand** in 2024 to **HK$75,286 thousand** in 2025[30](index=30&type=chunk) - Credit terms for purchases of goods range from **30 to 120 days**[30](index=30&type=chunk) [Excerpt from Independent Auditor's Report](index=17&type=section&id=Excerpt%20from%20Independent%20Auditor%27s%20Report) This section presents key excerpts from the independent auditor's report, including their opinion and observations on going concern [Opinion](index=17&type=section&id=Opinion) The auditor believes the consolidated financial statements fairly present the Group's financial position as of June 30, 2025, and its financial performance and cash flows for the year, in compliance with HKFRS and the Hong Kong Companies Ordinance - The auditor believes the consolidated financial statements fairly present the Group's financial position, performance, and cash flows, in compliance with **Hong Kong Financial Reporting Standards** and the **Hong Kong Companies Ordinance**[31](index=31&type=chunk) [Financial Uncertainty Related to Going Concern](index=17&type=section&id=Financial%20Uncertainty%20Related%20to%20Going%20Concern) The auditor highlights the Group's consecutive losses, including a net loss of HK$50,309 thousand this year, indicating significant uncertainty regarding its ability to continue as a going concern, but their opinion remains unmodified - The auditor draws attention to the Group's consecutive losses, with a net loss of **HK$50,309 thousand** this year, indicating significant uncertainty regarding its ability to continue as a going concern[32](index=32&type=chunk) - The auditor's opinion is not modified in respect of this going concern uncertainty[32](index=32&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's perspective on the Group's business performance, financial results, and future outlook [Business Review](index=17&type=section&id=Business%20Review) The Group's business model focuses on comprehensive technology solutions, strategically shifting investment to green energy with breakthroughs in hydrogen-oxygen production, while scaling down smart city business and expanding renewable energy in Southeast Asia - The Group's business model centers on providing comprehensive technology solutions, integrating hardware and software, with core pillars including green energy, smart city solutions, and renewable energy[49](index=49&type=chunk) - The Group strategically shifted its investment focus to the green energy sector, achieving significant breakthroughs in hydrogen-oxygen production technology[33](index=33&type=chunk) - The smart city business was strategically scaled down due to long capital turnover cycles for customers and chip shortages caused by geopolitical sanctions[37](index=37&type=chunk)[54](index=54&type=chunk) - The renewable energy business, affected by changes in Hong Kong's feed-in tariff policy, is actively expanding into the Southeast Asian market[55](index=55&type=chunk)[56](index=56&type=chunk) [Green Energy Business](index=17&type=section&id=Green%20Energy%20Business) The Group achieved significant breakthroughs in hydrogen-oxygen production technology, launching a scalable water-to-gas machine and securing a major steam supply contract expected to generate over RMB10 million in annual cash flow - The Group achieved significant breakthroughs in hydrogen-oxygen production technology, substantially reducing manufacturing costs compared to traditional methods[33](index=33&type=chunk) - On **September 27, 2025**, the world's first scalable 'Chuang Zhi Rong Water-Energy Gas Generator' was launched, producing the exclusive patented 'Chuang Zhi Rong Super Hydrogen' technology[33](index=33&type=chunk) - The business model focuses on selling steam generated by the hydrogen-oxygen generator, rather than selling the equipment itself[33](index=33&type=chunk) - A steam supply contract has been signed with a leading textile enterprise in Guangdong, with an initial daily supply of **600 steam tons**, expected to generate stable positive cash flow of no less than **RMB10 million** annually[35](index=35&type=chunk) - The Group has allocated approximately **RMB25 million** to support the initial development of the hydrogen-oxygen project and reserved **HK$20 million** for working capital in Hong Kong and Vietnam renewable energy businesses[36](index=36&type=chunk) [Smart City Business](index=18&type=section&id=Smart%20City%20Business) The Group's smart city solutions, including smart buildings and IoT, prioritize cooperation with state-owned enterprises to mitigate bad debt risks, but have been strategically scaled back due to long settlement cycles and chip shortages from geopolitical sanctions - Smart city solutions business includes smart buildings, IoT, and internet data center businesses[52](index=52&type=chunk) - The Group's main clients are state-owned enterprises and well-known listed companies, posing low credit risk but facing extended capital turnover cycles[52](index=52&type=chunk)[54](index=54&type=chunk) - Due to geopolitical sanctions causing shortages of critical semiconductor chips and systems, China's data center business faces significant slowdowns, leading the Group to strategically scale down operations in this area[54](index=54&type=chunk) - Management believes some state-owned enterprises and central enterprises face challenges in repayment ability, but government support and reform measures keep overall risks controllable[38](index=38&type=chunk)[40](index=40&type=chunk) [Renewable Energy Business](index=23&type=section&id=Renewable%20Energy%20Business) The Group invested heavily in solar photovoltaic (SPV) technology, but Hong Kong's reduced feed-in tariff policy led to deferred orders; the Group is now promoting self-use SPV systems and expanding into Southeast Asian markets - The Group has invested significant resources in the research and development of solar photovoltaic (SPV) technology products[55](index=55&type=chunk) - The Hong Kong government's reduction of the Feed-in Tariff (FiT) policy and its planned termination by **December 2033** have diminished investment attractiveness, causing some customers to defer orders[55](index=55&type=chunk) - The Group actively collaborates with customers to promote the installation of solar power generation equipment for self-consumption after the FiT scheme expires and has successfully launched SPV system sales, design, and installation services for Southeast Asian clients[55](index=55&type=chunk)[56](index=56&type=chunk) - The SPV business has become the core of the renewable energy segment, achieving positive progress in both Hong Kong and Southeast Asia[57](index=57&type=chunk) [Cultural Products](index=25&type=section&id=Cultural%20Products) The Group prudently manages its cultural products business, monitoring market dynamics for optimal sales timing and using its official website to enhance public awareness - The Group continues to prudently manage cultural products, monitoring market dynamics to identify optimal sales opportunities[61](index=61&type=chunk) - Cultural products are showcased on the company's official website to enhance public awareness[61](index=61&type=chunk) [Securities Investments](index=25&type=section&id=Securities%20Investments) The Group engages in short-term investments in Hong Kong-listed securities, recording a fair value gain of approximately HK$19,400 thousand this year, with a portfolio comprising 8 Hong Kong-listed companies - The Group recorded a fair value gain on financial assets of approximately **HK$19,400 thousand** this year, compared to a loss of **HK$19,500 thousand** in 2024[47](index=47&type=chunk)[62](index=62&type=chunk) - As of **June 30, 2025**, the fair value of financial assets at fair value through profit or loss was approximately **HK$36,500 thousand** (2024: HK$10,400 thousand)[62](index=62&type=chunk) - The investment portfolio comprises securities of **8 Hong Kong-listed companies**, with **6** listed on the Main Board and **2** on GEM[62](index=62&type=chunk) Overview of Securities Investment Portfolio as of June 30, 2025 | Company Name/Stock Code | Equity Percentage (%) | Investment Cost (HKD) | Cumulative Unrealized Fair Value (Loss)/Gain (HKD) | Fair Value (HKD) | Percentage of Total (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Zijing International Financial Holdings Limited (Stock Code: 8340) | 0.17 | 12,571,851 | (12,525,801) | 46,050 | 0.13 | | Guofu Quantum Innovation Limited (Stock Code: 290) | 0.02 | 2,334,376 | (327,382) | 2,006,984 | 5.50 | | Shengliang Logistics Limited (Stock Code: 8292) | 0.03 | 2,286,000 | (2,188,800) | 97,200 | 0.26 | | Kai Shun Holdings Limited (Stock Code: 102) | 0.06 | 2,434,500 | (2,434,500) | — | 0.00 | | China Star Group Limited (Stock Code: 326) | 0.50 | 9,885,445 | 18,144,145 | 28,029,600 | 76.78 | | Contel Technology Holdings Limited (Stock Code: 1059) | 4.12 | 5,853,705 | (1,609,080) | 4,244,625 | 11.63 | | China Environmental Resources Group Limited (Stock Code: 1130) | 0.48 | 518,156 | 862,444 | 1,380,600 | 3.78 | | Casti Holdings Group Limited (Stock Code: 1413) | 0.45 | 2,008,600 | (1,306,800) | 702,000 | 1.92 | | **Total** | | **37,892,633** | **(1,385,774)** | **36,507,059** | **100.0** | [Lending Business](index=26&type=section&id=Lending%20Business) The Group provides fixed-rate term loans through its wholly-owned subsidiary, with total loans in mainland China increasing to RMB25.5 million and Hong Kong to HK$21.3 million in 2025, adhering to strict credit assessment and KYC procedures - Lending services are provided by wholly-owned subsidiaries, primarily utilizing idle funds to issue fixed-rate term loans to individuals or enterprises contacted through personal connections[64](index=64&type=chunk) - As of **June 30, 2025**, the total loan amount for mainland China subsidiaries was **RMB25.5 million** (2024: RMB4 million), with annual interest rates of **6-8%**[74](index=74&type=chunk) - As of **June 30, 2025**, the total loan amount for Hong Kong lending business was **HK$21.3 million** (2024: HK$2.5 million), with annual interest rates of **8-8.5%**[74](index=74&type=chunk) - The Group adheres to strict credit assessment and KYC procedures, including identity verification, address confirmation, obtaining business registration certificates, and has standard procedures for handling overdue loans[65](index=65&type=chunk)[66](index=66&type=chunk)[67](index=67&type=chunk)[68](index=68&type=chunk)[69](index=69&type=chunk)[71](index=71&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk) [Geopolitical and Macroeconomic Environment](index=19&type=section&id=Geopolitical%20and%20Macroeconomic%20Environment) The Asia-Pacific region faces significant impacts from geopolitical conflicts, rising protectionism, and supply chain disruptions, driving countries to invest in digitalization, innovation, and regional trade agreements to enhance economic resilience - The Asia-Pacific region is affected by geopolitical conflicts (e.g., South China Sea disputes, North Korean nuclear weapons, US-China relations) and international protectionism (tariffs and trade barriers), leading to trade and investment uncertainties[39](index=39&type=chunk) - The COVID-19 pandemic highlighted global supply chain vulnerabilities, driving regionalization or diversification of production[39](index=39&type=chunk) - Countries in the region are enhancing economic resilience through investments in digitalization, promoting innovation, and strengthening regional trade agreements (e.g., CPTPP)[41](index=41&type=chunk) - Climate change presents economic impacts, spurring green technology innovation and investment[41](index=41&type=chunk) [Financial Performance Analysis](index=20&type=section&id=Financial%20Performance%20Analysis) Group revenue decreased by 72.7% to HK$57 million, with loss attributable to owners expanding to HK$44.2 million, influenced by reduced contributions from smart city and renewable energy businesses, but offset by a fair value gain on financial assets - Total revenue was approximately **HK$57,000 thousand**, a year-on-year decrease of approximately **72.7%**, primarily due to a significant reduction in data center business[42](index=42&type=chunk) - Loss attributable to owners of the Company was approximately **HK$44,200 thousand** (2024: HK$12,400 thousand), with the increased loss primarily due to reduced contributions from smart city solutions and renewable energy businesses[43](index=43&type=chunk) - Fair value of financial assets at fair value through profit or loss turned from a loss of **HK$19,500 thousand** in 2024 to a gain of approximately **HK$19,400 thousand** this year[43](index=43&type=chunk)[47](index=47&type=chunk) - Gross profit margin increased from **5.5%** in the prior year to **7.4%** this year, mainly due to a reduction in lower-margin smart city solutions business[43](index=43&type=chunk) [Revenue](index=20&type=section&id=Revenue) Total Group revenue was approximately HK$57,000 thousand, a significant year-on-year decrease of 72.7%, mainly due to the scaling down of data center business Revenue Overview | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 57,000 | 209,000 | -72.7% | - The decrease in revenue was primarily attributable to a significant reduction in data center business[42](index=42&type=chunk) [Loss Attributable to Owners of the Company](index=20&type=section&id=Loss%20Attributable%20to%20Owners%20of%20the%20Company) Loss for the year was approximately HK$50,300 thousand, with loss attributable to owners of the Company at HK$44,200 thousand, a substantial increase from last year, mainly due to reduced contributions from smart city solutions and renewable energy businesses Loss Overview | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Loss for the year | 50,300 | 12,200 | +312.3% | | Loss attributable to owners of the Company | 44,200 | 12,400 | +256.5% | - The increase in loss was primarily due to reduced contributions from smart city solutions and renewable energy businesses, combined with the fair value of financial assets turning from loss to gain[43](index=43&type=chunk) [Other Income, Gains and Losses](index=20&type=section&id=Other%20Income%2C%20Gains%20and%20Losses) Other income for the year was approximately HK$4,800 thousand, a significant increase from HK$2,200 thousand in 2024 Other Income | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Other income | 4,800 | 2,200 | +118.2% | [General and Administrative Expenses](index=21&type=section&id=General%20and%20Administrative%20Expenses) General and administrative expenses increased by approximately 65.5% to HK$37,600 thousand, mainly due to increased R&D and administrative costs from the new green energy business General and Administrative Expenses | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | General and administrative expenses | 37,600 | 23,000 | +63.5% | - The increase in expenses was primarily attributable to research and development and administrative expenses incurred by the newly launched green energy business[45](index=45&type=chunk) [Fair Value Gain/(Loss) on Financial Assets at Fair Value Through Profit or Loss](index=21&type=section&id=Fair%20Value%20Gain%2F%28Loss%29%20on%20Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) The Group recognized a fair value gain of approximately HK$19,400 thousand on financial assets this year, compared to a loss of HK$19,500 thousand in 2024, reflecting an improved stock market sentiment Fair Value Gain/(Loss) on Financial Assets | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | | :--- | :--- | :--- | | Fair value gain/(loss) on financial assets | 19,400 (Gain) | (19,500) (Loss) | - The fair value turned from loss to gain, reflecting an increasingly optimistic stock market sentiment[62](index=62&type=chunk) [Finance Costs](index=21&type=section&id=Finance%20Costs) Finance costs significantly increased to approximately HK$435 thousand this year from HK$40 thousand in 2024, primarily due to interest expenses from bank loans obtained during the year Finance Costs | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Finance costs | 435 | 40 | +987.5% | - The increase in finance costs was primarily attributable to interest expenses arising from bank loans obtained during the year[48](index=48&type=chunk) [Outlook](index=28&type=section&id=Outlook) The Group anticipates rapid transformation in global energy and technology, with hydrogen, data centers, and renewable energy as core businesses, prioritizing cross-sector collaboration to seize opportunities - The global energy and technology landscape is undergoing rapid transformation, driven by decarbonization, digitalization, AI, and electrification waves[75](index=75&type=chunk) - The Group's business covers three core areas: green energy (hydrogen-oxygen technology), data centers, and renewable energy[75](index=75&type=chunk) - Hydrogen, data centers, and renewable energy form three interconnected key elements crucial for achieving net-zero targets[87](index=87&type=chunk) [Green Energy Business Outlook](index=29&type=section&id=Green%20Energy%20Business%20Outlook) The Group's hydrogen-oxygen technology offers significant cost advantages, positioning it for explosive growth in the global hydrogen market, with an innovative steam sales model and substantial opportunities in China's steam market - The Group's hydrogen-oxygen production cost is significantly lower than traditional hydrogen, is not highly flammable, can be transported through ordinary plastic pipes without high-pressure compression, substantially reducing transportation and storage costs[77](index=77&type=chunk) - The global hydrogen energy market is projected to grow from **HK$71 billion** in 2024 to **HK$1.05 trillion** by 2030, with a compound annual growth rate of **56.75%**[78](index=78&type=chunk) - The Group will not directly sell hydrogen-oxygen generators but will integrate them with customized boilers to sell the steam produced by the equipment, expecting to receive substantial deposits from customers[79](index=79&type=chunk) - China's steam supply market is vast and continuously growing, with an annual market size reaching **hundreds of billions of RMB**, offering immense business opportunities for the Group[80](index=80&type=chunk)[82](index=82&type=chunk) [Renewable Energy Business Outlook](index=31&type=section&id=Renewable%20Energy%20Business%20Outlook) Renewable energy technologies continue to advance, with solar PV module efficiency exceeding 25%, driving an unprecedented global market expansion projected to reach HK$15.8 trillion by 2030, as the Group successfully completes SPV projects in Vietnam and explores new opportunities - In 2025, renewable energy technologies continue to advance in efficiency, integration, and economics, with commercial solar photovoltaic module efficiency exceeding **25%**[83](index=83&type=chunk) - Global renewable energy generation is projected to surge by **84%** by 2030, with the market size expected to expand at a compound annual growth rate of **12.17%** to **HK$15.8 trillion** by 2030[84](index=84&type=chunk) - The Group has successfully completed a solar photovoltaic system (SPV) project in Vietnam and is currently negotiating long-term large-scale SPV projects within Vietnam[84](index=84&type=chunk) - As the attractiveness of Hong Kong's feed-in tariff scheme wanes, the Group continues to explore other non-fixed-price acquisition SPV projects in Hong Kong and Southeast Asia, and is developing electricity storage technologies[76](index=76&type=chunk) [Smart City Solutions Business Outlook](index=31&type=section&id=Smart%20City%20Solutions%20Business%20Outlook) Data center innovation in 2025 focuses on performance, sustainability, and AI integration, with the market driven by AI and cloud expansion, projected to triple in global capacity by 2030 to US$652 billion, though grid bottlenecks may pose challenges - In 2025, data center innovation focuses on performance, sustainability, and AI integration, with rapid adoption of liquid cooling systems and continuous expansion of edge computing[85](index=85&type=chunk) - The data center market, driven by AI and cloud expansion, is projected to triple in global capacity by 2030, reaching a market size of **US$652 billion**[86](index=86&type=chunk) - The market size for AI-designed data centers is projected to reach **HK$5,080 billion** in 2025, soaring to **HK$7,280 billion** by 2030[86](index=86&type=chunk) - Electricity demand, driven by hyperscale enterprises, is expected to grow by **165%** by 2030, but limiting factors such as grid bottlenecks may slow development[86](index=86&type=chunk) [Conclusion](index=32&type=section&id=Conclusion) Hydrogen, data centers, and renewable energy are interconnected key elements for achieving net-zero goals, with technological advancements reducing costs and overcoming scalability barriers, projecting multi-trillion dollar market value by 2030 - Hydrogen, data centers, and renewable energy form three interconnected key elements crucial for achieving net-zero targets[87](index=87&type=chunk) - Technological leaps (high-efficiency electrolyzers, liquid-cooled AI racks, advanced photovoltaics) are progressively reducing costs and overcoming scalability barriers[87](index=87&type=chunk) - Market forecasts project multi-trillion dollar value creation by 2030, with success dependent on policy coordination, infrastructure investment, and supply chain resilience[87](index=87&type=chunk) [Cash Flow Liquidity and Financial Resources](index=32&type=section&id=Cash%20Flow%20Liquidity%20and%20Financial%20Resources) The Group maintains a positive financial position with total liquidity of HK$11,900 thousand and net current assets of HK$74,900 thousand, and a loan-to-equity ratio of 0.06 - The Group's financial position remains positive, with a reasonable loan-to-equity ratio[88](index=88&type=chunk) Cash Flow and Financial Resources Overview | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Total liquidity (cash and cash equivalents) | 11,900 | 14,700 | -19.1% | | Current assets | 257,000 | 220,000 | +16.8% | | Current liabilities | 181,600 | 158,000 | +14.9% | | Net current assets | 74,900 | 62,000 | +20.8% | | Loan-to-equity ratio | 0.06 | Not applicable | - | | Short-term loans | 7,100 | None | - | [Fundraising Activities](index=33&type=section&id=Fundraising%20Activities) The Group conducted two placings in 2024 and 2025, raising a total net amount of approximately HK$61,500 thousand, primarily for general working capital and green energy business operations - The Group conducted two placing activities in **2024** and **2025**, raising a total net amount of approximately **HK$61,500 thousand**[89](index=89&type=chunk)[91](index=91&type=chunk) [2024 Placing](index=33&type=section&id=2024%20Placing) A placing of 136,764,000 new ordinary shares was completed on July 19, 2024, raising approximately HK$23,000 thousand net, fully utilized for general working capital, renewable energy, data center operations, and green energy investments - A placing of **136,764,000** new ordinary shares was completed on **July 19, 2024**, at a net price of **HK$0.171** per share, raising approximately **HK$23,000 thousand** net[89](index=89&type=chunk)[90](index=90&type=chunk) Use of Proceeds from 2024 Placing | Use | Net Amount Allocated (million HKD) | Fully Utilized (million HKD) | | :--- | :--- | :--- | | General working capital of the Group | 8.0 | 8.0 | | Working capital for renewable energy business and data center | 10.0 | 10.0 | | Investment in green or renewable energy industry | 5.0 | 5.0 | | **Total** | **23.0** | **23.0** | [2025 Placing](index=34&type=section&id=2025%20Placing) A placing of 164,112,000 new ordinary shares was completed on February 4, 2025, raising approximately HK$38,500 thousand net, primarily for the Group's green energy business working capital, with HK$19,900 thousand utilized by June 30, 2025 - A placing of **164,112,000** new ordinary shares was completed on **February 4, 2025**, at a net price of **HK$0.238** per share, raising approximately **HK$38,500 thousand** net[91](index=91&type=chunk)[92](index=92&type=chunk) - The proceeds were primarily used for specific working capital of the Group's green energy business, with **HK$19,900 thousand** utilized as of **June 30, 2025**[91](index=91&type=chunk)[92](index=92&type=chunk) [Treasury Policy](index=34&type=section&id=Treasury%20Policy) The Group adheres to prudent financial management, funding operations through internal resources, capital markets, and bank borrowings, with minimal foreign exchange risk due to local currency denominated borrowings and direct hedging - The Group adheres to prudent financial management, primarily utilizing internal operating resources, capital market instruments, and bank borrowings for operations and business development funding[92](index=92&type=chunk) - All borrowings are denominated in local currencies, resulting in minimal foreign exchange risk, and no speculative derivative transactions are undertaken[92](index=92&type=chunk) - Foreign exchange risk is managed directly by matching foreign currency income and expenses[92](index=92&type=chunk) [Capital Commitments](index=35&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group had no authorized but uncontracted capital commitments, compared to HK$5,500 thousand in 2024 - As of **June 30, 2025**, the Group had no authorized but uncontracted capital commitments[93](index=93&type=chunk) - In 2024, there was a capital commitment of approximately **HK$5,500 thousand** for capital injection into a domestic subsidiary[93](index=93&type=chunk) [Pledges](index=35&type=section&id=Pledges) As of June 30, 2025, the Group pledged a property in mainland China with a carrying value of approximately HK$24,100 thousand to secure bank loan facilities for its domestic operating subsidiary - As of **June 30, 2025**, the Group pledged a property in mainland China with a carrying value of approximately **HK$24,100 thousand** to secure bank loan facilities for its domestic operating subsidiary[94](index=94&type=chunk) [Contingent Liabilities](index=35&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group recorded contingent liabilities of HK$1,000 thousand, but directors believe a high probability of success in a claim against a subcontractor, thus no provision was made - As of **June 30, 2025**, the Group recorded contingent liabilities of **HK$1,000 thousand**, but the Directors believe there is a high probability of success, thus no provision was made[95](index=95&type=chunk) - The Group, as plaintiff, is seeking compensation from a subcontractor for at least **HK$500 thousand** in costs and **HK$5,300 thousand** in lost profits, supported by substantial evidence[95](index=95&type=chunk) [Significant Investments Held, Major Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures, and Future Plans for Major Investments or Capital Assets](index=35&type=section&id=Significant%20Investments%20Held%2C%20Major%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%20and%20Joint%20Ventures%2C%20and%20Future%20Plans%20for%20Major%20Investments%20or%20Capital%20Assets) Except as disclosed, for the year ended June 30, 2025, the Group held no significant investments, nor were there any major acquisitions or disposals of subsidiaries, associates, and joint ventures, or future plans for major investments or capital assets - Except as disclosed, for the year ended **June 30, 2025**, the Group held no significant investments, nor were there any major acquisitions or disposals of subsidiaries, associates, and joint ventures, or future plans for major investments or capital assets[96](index=96&type=chunk) [Remuneration Policy](index=35&type=section&id=Remuneration%20Policy) As of June 30, 2025, the Group employed approximately 45 staff with employee costs of HK$21,300 thousand, with remuneration determined by market levels, employee capabilities, performance, qualifications, and experience, and a share option scheme adopted for incentives - As of **June 30, 2025**, the Group employed approximately **45 staff** globally (2024: 41), with employee costs of approximately **HK$21,300 thousand** (2024: HK$12,700 thousand)[97](index=97&type=chunk) - Remuneration is determined by reference to market levels and based on each employee's capabilities, performance, qualifications, and experience[98](index=98&type=chunk) - Directors' remuneration is recommended by the Human Resources and Remuneration Committee, and a share option scheme has been adopted as an incentive[98](index=98&type=chunk)[99](index=99&type=chunk) [Final Dividend](index=36&type=section&id=Final%20Dividend) The Directors do not recommend the payment of any final dividend for the year ended June 30, 2025 - The Directors do not recommend the payment of any final dividend for the year ended **June 30, 2025**[100](index=100&type=chunk) [Events After Reporting Period](index=36&type=section&id=Events%20After%20Reporting%20Period) Except as disclosed, no significant events affecting the Group occurred after June 30, 2025 - Except as disclosed, no significant events affecting the Group occurred after **June 30, 2025**[101](index=101&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=36&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended June 30, 2025 - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended **June 30, 2025**[102](index=102&type=chunk) [Corporate Governance and Audit](index=36&type=section&id=Corporate%20Governance%20and%20Audit) This section details the Group's corporate governance practices and the scope of work performed by its auditor [Scope of Work of Certified Public Accountants Cheng & Cheng Limited](index=36&type=section&id=Scope%20of%20Work%20of%20Certified%20Public%20Accountants%20Cheng%20%26%20Cheng%20Limited) The consolidated financial statement figures in the preliminary announcement were agreed upon by auditor Cheng & Cheng Limited, but their work does not constitute an assurance engagement for this preliminary announcement - The consolidated financial figures contained in the preliminary announcement have been agreed upon by the auditor, **Cheng & Cheng Limited**[103](index=103&type=chunk) - The auditor's work does not constitute an assurance engagement, and therefore no assurance is expressed on this preliminary announcement[103](index=103&type=chunk) [Corporate Governance Code](index=36&type=section&id=Corporate%20Governance%20Code) The Company has complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules throughout the year ended June 30, 2025 - The Company has complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules throughout the year ended **June 30, 2025**[104](index=104&type=chunk) [Compliance with Model Code](index=36&type=section&id=Compliance%20with%20Model%20Code) The Company adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all Directors confirmed compliance throughout the year ended June 30, 2025 - The Company adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[105](index=105&type=chunk) - All Directors have confirmed compliance with the Model Code throughout the year ended **June 30, 2025**[105](index=105&type=chunk) [Audit Committee](index=37&type=section&id=Audit%20Committee) The Audit Committee reviewed the Group's accounting principles, internal controls, financial reporting, and the annual results for the year ended June 30, 2025 - The Audit Committee has reviewed the accounting principles and practices adopted by the Group, internal controls, and financial reporting matters[106](index=106&type=chunk) - The Audit Committee has reviewed the Company's annual results for the year ended **June 30, 2025**[107](index=107&type=chunk)

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9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: 冠軍科技集團有限公司 (延續於百慕達之有限公司) 呈交日期: 2025年10月2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) | 00092 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 160,000,000,000 | HKD | | 0.01 HKD | | 1,600,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 160,000,000,000 | HKD | | 0.01 HKD | | 1,600,000,000 ...

Core Viewpoint - Champion Technology Group (00092.HK) reported a significant decline in total revenue for the fiscal year ending June 30, 2025, amounting to approximately HKD 57.31 million, representing a year-on-year decrease of about 72.7% due to a notable reduction in data center operations [1] Financial Performance - The company recorded a loss attributable to shareholders of approximately HKD 44.23 million for the year, compared to a loss of about HKD 12.40 million in 2024 [1] - The increase in losses is attributed to a decrease in contributions from smart city solutions and renewable energy businesses, as well as a fair value gain on financial assets of approximately HKD 19.40 million, contrasting with a fair value loss of HKD 19.50 million in 2024 [1] - The loss per share for the year was HKD 0.0503, compared to HKD 0.0182 in 2024 [1]

Core Points - Champion Technology Group (00092) reported a revenue of HKD 57.31 million for the year ending June 30, 2025, representing a year-on-year decline of 72.5% [1] - The company recorded a loss attributable to shareholders of HKD 44.226 million, which is an increase of 256.1% compared to the previous year [1] - Basic loss per share was HKD 0.0503 [1] Revenue and Profitability - The decline in revenue is attributed to reduced contributions from smart city solutions and renewable energy businesses [1] - The gross profit margin improved from 5.5% in the previous year to 7.4% in the current year, primarily due to a decrease in lower profit margins from smart city solutions [1] Financial Assets - The company reported a fair value gain of approximately HKD 19.4 million on financial assets, contrasting with a fair value loss of HKD 19.5 million in 2024 [1]

Financial Performance - The total revenue for the year ended June 30, 2025, was HKD 57,311,000, a decrease of 72.6% compared to HKD 208,612,000 in 2024[3] - The gross profit for the year was HKD 4,238,000, down 62.8% from HKD 11,400,000 in the previous year[3] - The net loss for the year was HKD 50,309,000, compared to a net loss of HKD 12,222,000 in 2024, representing a 312.5% increase in losses[4] - The company reported a basic and diluted loss per share of HKD 5.03, compared to HKD 1.82 in the previous year[4] - The group reported a pre-tax loss from continuing operations of HKD 51,445,000 for the year ended June 30, 2025, compared to a pre-tax loss of HKD 12,776,000 in 2024[16][17] - The company reported a basic loss attributable to owners of HKD 44,226,000 for the year ended June 30, 2025, compared to a loss of HKD 12,420,000 for the year ended June 30, 2024[24] - The loss attributable to the company's owners for the year was approximately HKD 44.2 million, compared to HKD 12.4 million in 2024, with a notable increase in losses attributed to reduced contributions from smart city solutions and renewable energy businesses[43] Assets and Liabilities - The total assets less current liabilities amounted to HKD 120,564,000, an increase of 15.3% from HKD 104,569,000 in 2024[5] - Non-current assets increased to HKD 45,629,000 from HKD 42,383,000, reflecting a growth of 5.3%[5] - The total trade receivables increased to HKD 162,661,000 in 2025 from HKD 150,366,000 in 2024, with an impairment loss provision of HKD 47,135,000[26] - Accounts receivable (net of expected credit losses) as of June 30, 2025, totaled HKD 115,526,000, a decrease from HKD 142,837,000 in 2024, reflecting a reduction of approximately 19%[27] - The overdue accounts receivable increased significantly, with amounts over one year rising to HKD 117,980,000 in 2025 from HKD 5,406,000 in 2024, indicating a substantial increase of over 2,000%[28] - Accounts payable increased to HKD 170,785,000 in 2025 from HKD 151,245,000 in 2024, reflecting a growth of approximately 13%[30] Revenue Segments - Revenue from the technology segment, specifically smart city solutions, was HKD 48,749,000 in 2025, down from HKD 179,878,000 in 2024, indicating a decrease of about 72.9%[14] - The renewable energy segment generated revenue of HKD 8,562,000 in 2025, compared to HKD 28,734,000 in 2024, reflecting a decline of approximately 70.1%[14] - The group’s revenue for the year ended June 30, 2025, was HKD 57,311,000, a decrease from HKD 208,612,000 in 2024, representing a decline of approximately 72.6%[14] Strategic Initiatives - The company has initiated measures to strengthen cost control and aims to achieve profitable operations with positive cash flow[8] - The company launched a new business related to hydrogen-oxygen machines on September 27, 2025, expected to generate positive cash flow[8] - The company has reached agreements with major shareholders for financial support to improve liquidity[8] - The company is actively negotiating repayment schedules with various trade debtors and creditors to manage cash flow[8] - The company has strategically shifted its investment focus towards green energy, achieving significant breakthroughs in hydrogen and oxygen production technology, with expected industrial application in Q4 2025[33] - The launch of the world's first scalable hydrogen production machine, "Chuang Zhi Rong Hydrogen," is set for September 30, 2025, marking a major milestone in the company's green energy initiatives[33] Market and Industry Trends - The global hydrogen market is projected to reach a demand of 97 million tons in 2023, with an expected annual production capacity of 49 million tons by 2030 for low-emission hydrogen[78] - The green hydrogen sector is estimated to be valued at HKD 71 billion in 2024, with a compound annual growth rate of 56.75% expected to rise to HKD 1.05 trillion by 2030[78] - The overall hydrogen market revenue is forecasted to grow from HKD 1.75 trillion in 2025 to HKD 2.44 trillion by 2030[78] - The steam supply market in China is substantial, driven by industrial demand, urbanization, and environmental regulations, with estimates suggesting a market size of several hundred billion RMB annually[82] Financial Management - The group’s financial liquidity remains positive, with total liquid funds amounting to approximately HKD 11.9 billion as of June 30, 2025[88] - The group raised approximately HKD 23 million from a placement of shares, with funds allocated for renewable energy and data center operations[90] - The company maintained a prudent financial policy, ensuring a positive liquidity position through internal resources and bank borrowings[92] - The company has no authorized but uncontracted capital commitments as of June 30, 2025, compared to a commitment of approximately HKD 5.5 million in the previous year[93] Employee and Operational Costs - The total employee cost for the year ended June 30, 2025, was approximately HKD 21.3 million, an increase from HKD 12.7 million in the previous year[97] - General and administrative expenses rose by approximately 65.5% to about HKD 37.6 million, mainly due to increased R&D and administrative expenses from the newly launched green energy business[45] Dividends and Shareholder Returns - The company did not declare or recommend any dividends for the year ended June 30, 2025, nor for the year ended June 30, 2024[23] - The company did not recommend any final dividend for the year ended June 30, 2025, consistent with the previous year[100]

Group 1 - As of September 24, 99 stocks reached a 52-week high, with Ai Shiji Group (08507) leading at a high rate of 102.70% [1] - Phoenix Satellite Television (02008) and Huicong Group (02280) followed with high rates of 35.52% and 33.33% respectively [1] - The top five stocks with the highest 52-week high rates include Changjietong (01588) at 33.30% and Kexuan Power Holdings (00476) at 30.91% [1] Group 2 - The lowest performing stocks included Huangchao Home (01198) with a low rate of -19.90% and Hengda Group Holdings (03616) at -14.29% [3] - Other notable low performers were Champion Technology Group (00092) at -13.58% and Zhuyou Intelligent Manufacturing Technology (00726) at -10.00% [3] - The overall trend indicates a significant number of stocks reaching new highs, contrasting with a smaller group experiencing new lows [3]

Summary of Key Points Core Viewpoint - Champion Technology Group (00092.HK) anticipates a consolidated net loss attributable to shareholders of approximately HKD 42 million to HKD 46 million for the fiscal year ending June 30, 2025, compared to a loss of about HKD 12 million for the fiscal year ending June 30, 2024 [1] Group Analysis - The expected losses are primarily due to several factors: - Geopolitical issues have led to a shortage of key components for data centers, significantly hindering the development of the smart city industry. This has resulted in a notable decrease in revenue and operational performance for the company's smart city solutions business, along with a significant increase in expected credit losses from accounts receivable due to delayed customer payments [1] - The Hong Kong government has indicated that the subsidy program for online electricity prices is unlikely to be extended beyond its expiration in 2033. Consequently, investors in general renewable energy projects are becoming hesitant, leading to a significant reduction in revenue and operational performance for the company's renewable energy business [1] - During the fiscal year ending June 30, 2024, the company recorded a one-time gain of HKD 32.1 million from the disposal of a hotel in Dongguan, which is considered non-recurring in nature [1]