Core Viewpoint - *ST Chuangxing (600193) is facing significant challenges due to the arrest of its chairman Liu Peng, which has raised concerns about the company's governance and operational stability, despite the company stating that its operations remain normal [1][3][4]. Group 1: Company Governance and Management - Liu Peng, the chairman of *ST Chuangxing, has been arrested on criminal charges, although the matters are unrelated to the company [1][4]. - The company's board of directors is functioning normally, with responsibilities being temporarily assumed by Yang Zhe, the general manager [3]. - The company is monitoring the situation closely and has stated that its production and operational activities are normal [3]. Group 2: Financial Performance - In the first half of the year, *ST Chuangxing reported a revenue of 374,000 yuan, a 99% decrease year-on-year, with a net loss of 13.71 million yuan [6]. - For 2024, the company achieved total revenue of 84.01 million yuan, a decline of 35.53% year-on-year, and a net loss of 193 million yuan, representing a staggering 814.99% decrease [7]. - The third quarter report for 2025 indicated a revenue of 18.73 million yuan, down 59.10% year-on-year, with a net loss of 14.49 million yuan [9]. Group 3: Operational Challenges - The company has faced significant operational challenges, particularly in its construction business, which did not generate new revenue during the reporting period [6]. - The company is focusing on improving its project acquisition capabilities and managing credit risks to enhance its operational sustainability [6]. Group 4: Shareholder Changes and Market Position - In July 2023, *ST Chuangxing underwent a change in control, with Liou Co. becoming the largest shareholder by acquiring 9.87% of the company [8]. - The new controlling shareholder, Wang Xiangrong, has raised questions about the motivations behind the investment, especially given the company's precarious financial situation [8][11].

Group 1 - The chairman of *ST Chuangxing, Liu Peng, has been arrested by the Hangzhou Public Security Bureau for suspected criminal activities, which are unrelated to the company [1] - The company's board of directors is operating normally, with the responsibilities of the chairman and legal representative being temporarily assumed by Yang Zhe, a director and general manager [1] - The daily operations and management of the company are being handled by the executive team, and the production and operational status of the company and its subsidiaries remain normal [1] Group 2 - As of the market close on October 30, *ST Chuangxing's stock price decreased by 0.48%, closing at 4.15 yuan, with a total market capitalization of 1.8 billion yuan [3] - The company's price-to-earnings ratio is reported at -9.4, with a market-to-book ratio of 19.81 [4]

Core Viewpoint - The company reported a loss of HKD 13.895 million for the year ending July 31, 2025, marking a shift from profit to loss compared to the previous year [1] Financial Performance - The loss attributable to shareholders was HKD 13.895 million, translating to a loss per share of HKD 0.066 [1] - The profit from an associated company decreased significantly from HKD 20.3 million for the year ending July 31, 2024, to HKD 5 million [1] - Depreciation expenses for the group's hotel properties increased by over HKD 2.5 million following renovations [1]

Core Viewpoint - Guan Zhong Real Estate (00193) reported a loss attributable to shareholders of HKD 13.895 million for the year ending July 31, 2025, marking a shift from profit to loss compared to the previous year [1] Financial Performance - The loss per share is reported at HKD 0.066 [1] - The profit from an associated company decreased significantly from HKD 20.3 million for the year ending July 31, 2024, to HKD 5 million [1] - The increase in depreciation of properties, machinery, and equipment after hotel renovations exceeded HKD 2.5 million [1]

Financial Performance - For the fiscal year ending July 31, 2025, the total revenue was HKD 53,395 thousand, a decrease of 8.5% from HKD 58,399 thousand in the previous year[3] - The gross profit for the year was HKD 42,992 thousand, slightly up from HKD 42,750 thousand, indicating a stable gross margin[3] - The net loss for the year was HKD 16,571 thousand, compared to a profit of HKD 3,787 thousand in the previous year, reflecting a significant decline in profitability[3] - The total comprehensive loss for the year was HKD 14,000 thousand, a significant drop from a comprehensive income of HKD 527 thousand in the previous year[4] - The company reported a basic loss per share of HKD 6.6, compared to earnings of HKD 2.9 per share in the previous year[4] - The total comprehensive income for the year ended July 31, 2025, was a loss of HKD 13,895,000, compared to a profit of HKD 5,569,000 for the year ended July 31, 2024[27] - The group reported a loss attributable to owners of the company of HKD 13.9 million for the fiscal year ending July 31, 2025, compared to a profit of HKD 5.6 million in 2024[43] Assets and Liabilities - The company's total assets as of July 31, 2025, were HKD 1,182,531 thousand, a slight increase from HKD 1,182,149 thousand in the previous year[5] - The cash and cash equivalents decreased significantly to HKD 47,117 thousand from HKD 175,038 thousand, indicating liquidity challenges[5] - The company's equity attributable to owners was HKD 821,054 thousand, down from HKD 823,048 thousand, reflecting a decrease in shareholder value[6] - Current assets increased significantly to HKD 143,214,000 in 2025 from HKD 87,497,000 in 2024, marking an increase of about 63.8%[31] - Non-current liabilities decreased to HKD 669,695,000 in 2025 from HKD 754,221,000 in 2024, a reduction of approximately 11.2%[31] Revenue Segments - Total revenue for the hotel business was HKD 12,909,000, while the total revenue for financial investments was HKD 434,051,000 for the year ended July 31, 2025[23] - The hotel business reported a segment loss of HKD 15,953,000, compared to a segment loss of HKD 11,622,000 in the previous year[23] - Revenue from property sales was HKD 11.9 million, down from HKD 15.2 million in the previous year[50] - The hotel business generated revenue of HKD 12.9 million, a decrease from HKD 13.9 million in 2024, with an occupancy rate dropping to 21.1% from 24.0%[51] - The company’s financial investments segment generated a profit of HKD 5,216,000 for the year ended July 31, 2025[23] Expenses and Costs - The company incurred administrative expenses of HKD 49,279 thousand, an increase from HKD 45,127 thousand, indicating rising operational costs[3] - The company incurred financial expenses of HKD 661,000 for the year ended July 31, 2025, compared to HKD 49,000 in the previous year[24] - The company recognized a depreciation expense of HKD 12,196,000 for hotel operations, up from HKD 9,687,000 in the previous year[26] - The company’s total expenses for employee benefits amounted to HKD 27,053,000 for the year ended July 31, 2025, compared to HKD 23,663,000 in the previous year[26] Credit and Loans - The expected credit loss under the expected credit loss model was HKD 8,460 thousand, slightly improved from HKD 9,406 thousand in the previous year[3] - The company has assessed the expected credit loss related to loans in Tianfu's books and determined that there has been no significant increase in credit risk, resulting in no expected credit loss recognized for the year ending July 31, 2025[17] - The average loan amount for approximately 72% of customers was HKD 40,000 or below, with 72% of the repayment terms being 18 months or less[56] - The impairment loss on receivables was HKD 8.5 million for the year, a decrease from HKD 9.4 million in 2024, attributed to a reduction in the loan portfolio and improvements in credit control[58][59] Investments and Securities - The total value of securities held was HKD 256.7 million, an increase from HKD 99.8 million in the previous year[47] - The investment portfolio as of July 31, 2025, included listed equity securities valued at HKD 134.4 million, an increase from HKD 32.7 million in 2024, representing approximately 52.4% of the investment portfolio[61] - The debt securities held amounted to HKD 107.3 million, up from HKD 67.2 million in 2024, accounting for about 41.8% of the investment portfolio[62] - The group generated a net fair value gain of HKD 23.7 million from the equity portfolio during the year, compared to a loss of HKD 1.5 million in 2024[61] - The group recorded a net fair value loss of HKD 8.4 million from the debt portfolio during the year, compared to a loss of HKD 5.1 million in 2024[62] Corporate Governance and Compliance - The company has complied with all applicable provisions of the corporate governance code as of July 31, 2025[72] - The audit committee held five meetings during the year to review the group's reporting procedures and internal controls[77] Future Outlook - The company anticipates sufficient resources to continue operating for the foreseeable future, thus adopting the going concern basis in preparing the financial statements[12] - The company has maintained a strong financial position despite overall economic activity remaining below pre-COVID levels, particularly in the hotel and property sectors in mainland China[69]

Core Viewpoint - The company, Crown Real Estate (00193), anticipates a significant loss for the fiscal year ending July 31, 2025, projecting a loss attributable to shareholders of no less than HKD 13 million, contrasting with a profit of HKD 5.6 million for the fiscal year ending July 31, 2024 [1] Financial Performance - For the fiscal year ending July 31, 2025, the company expects to shift from profit to loss primarily due to a decrease in profit from an associated company, which is expected to decline by over HKD 15 million due to reduced earnings and fair value of investment properties [1] - Additionally, the company anticipates an increase in depreciation expenses of over HKD 2.5 million related to the renovation of hotel properties, machinery, and equipment [1]

Core Viewpoint - The company, Crown Real Estate (00193.HK), has announced that it will hold a board meeting on October 24, 2025, to approve the publication of its annual performance results for the fiscal year ending July 31, 2025 [1] Group 1 - The board meeting is scheduled for October 24, 2025 [1] - The meeting will include the approval of the company's annual performance results [1] - The fiscal year for which the results will be published ends on July 31, 2025 [1]

截至2025年7月31日止年度由盈转亏主要由于(i)因一间联营公司的收益及其持有的投资物业的公平值减 少，导致应占该联营公司溢利减少逾1500万港元；(ii)集团酒店物业翻新后物业、机器及设备折旧增加 逾250万港元。 格隆汇10月14日丨冠中地产(00193.HK)公告，预期集团截至2025年7月31日止年度将录得公司拥有人应 占亏损不少于1300万港元，而截至2024年7月31日止年度录得公司拥有人应占溢利560万港元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CAPITAL ESTATE LIMITED 本公告所載資料僅基於根據未經本公司核數師審核或審閱之數據及資料而作出之 初步評估。本集團截至二零二五年七月三十一日止年度之業績詳情將以其將於二 零二五年十月刊發之全年業績公告為準並於其中披露。 股東及潛在投資者於買賣本公司證券時，務請審慎行事。 承董事會命 冠中地產有限公司 主席 蕭麗娜 香港，二零二五年十月十四日 （於香港註冊成立之有限公司） （股份代號：193） 盈利警告 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a) 條及證券及期貨條例（「證券及期貨條例」）第XIVA 部下的內幕消息條文（定義見 上市規則）而作出。 冠中地產有限公司（「本公司」，連同其附屬公司統稱「本集團」）的董事會（「董事 會」）謹此知會本公司股東（「股東」）及潛在投資者，根據現時可得資料，預期本集 團截至二零二五年七月三十一日止年度將錄得本公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 行政總裁 朱年耀 香港，二零二五年十月十四日 （股份代號：193） 董事會會議日期 冠中地產有限公司（「本公司」）之董事會（「董事會」）宣佈，本公司將於二零二五 年十月二十四日（星期五）舉行董事會會議，以（其中包括）批准刊發本公司及其 附屬公司截至二零二五年七月三十一日止年度之業績。 承董事會命 冠中地產有限公司 CAPITAL ESTATE LIMITED 冠中地產有限公司 （於香港註冊成立之有限公司） 於本公告日期，董事會成員包括執行董事蕭麗娜女士、朱年耀先生，非執行董事蕭 麗雅女士，以及獨立非執行董事洪嘉禧先生、楊偉雄先生及黃廣發先生。 ...