Financial Performance - Revenue for the year ended December 31, 2025, increased to HKD 33,117,000 from HKD 30,151,000, representing a growth of 9.8%[3] - Gross profit rose to HKD 16,233,000, up from HKD 12,416,000, marking a significant increase of 30.5%[3] - The company reported a net loss of HKD 19,993,000 for the year, an improvement from a net loss of HKD 28,882,000 in the previous year, reflecting a reduction of 30.5%[4] - Total revenue for the group increased to HKD 33,117,000 in 2025 from HKD 30,151,000 in 2024, reflecting a growth of about 6.5%[12] - The company reported a pre-tax loss of HKD 29,403,000 for the year 2025, compared to a loss of HKD 34,596,000 in 2024[21][24] - The company’s attributable loss decreased by approximately 83.9% to about HKD 5,500,000 for the year ended December 31, 2025, compared to a loss of HKD 34,600,000 for the year ended December 31, 2024[53] Assets and Liabilities - Total assets increased to HKD 342,068,000 from HKD 311,048,000, showing a growth of 10%[5] - Non-current assets surged to HKD 59,181,000, up from HKD 12,080,000, indicating a substantial increase of 389.5%[5] - The total equity increased to HKD 222,681,000 from HKD 155,421,000, reflecting a growth of 43.3%[6] - The non-current liabilities decreased to approximately HKD 16,600,000 from HKD 25,600,000 in 2024[66] - The capital-to-asset ratio improved to approximately 44.5% from 51.9% in 2024[66] Cash and Financing - The company's cash and bank balances rose to HKD 27,010,000 from HKD 19,548,000, representing a growth of 38.1%[5] - The company’s financing costs rose to HKD 2,010,000 in 2025 from HKD 1,922,000 in 2024, primarily due to increased borrowing costs[20] - The company issued bonds with a face value of HKD 12,000,000 at an interest rate of 6.5%, maturing in 2030[39] Revenue Segments - Revenue from advertising services decreased to HKD 4,765,000 in 2025 from HKD 20,241,000 in 2024, representing a decline of approximately 76.5%[12] - E-commerce business revenue reached HKD 21,451,000 in 2025, with no revenue reported in 2024, indicating a significant growth in this segment[12] - The revenue from advertising and e-commerce services was approximately HKD 26,200,000, accounting for about 79.2% of the total revenue for the group[42] - The total revenue from advertising and e-commerce businesses was approximately HKD 26,200,000, representing an increase of about 29.5% compared to HKD 20,200,000 for the year ending December 31, 2024[50] Operational Changes - The group completed the acquisition of 100% of BFB Development Inc. in 2025, which primarily sells health products through e-commerce channels, leading to a restructuring of its operating segments[16] - The company completed a rights issue on May 7, 2025, issuing 368,071,365 shares at a subscription price of HKD 0.11 per share, raising approximately HKD 39,900,000 net of expenses[59] - The company acquired 100% equity of a target company on November 11, 2025, with a total consideration of HKD 48,510,000 paid through the issuance of 147,000,000 shares at a price of HKD 0.33 per share[61] Employee and Operational Costs - Total employee costs decreased to HKD 6,763,000 in 2025 from HKD 11,991,000 in 2024, reflecting a reduction in wages and benefits[21] - Administrative expenses decreased by approximately 32.5% to about HKD 16,400,000 for the year ended December 31, 2025, down from approximately HKD 24,200,000 for the year ended December 31, 2024, mainly due to reduced employee costs[51] - Sales and distribution costs for the year ended December 31, 2025, increased by approximately 528.7% to about HKD 3,500,000 from approximately HKD 600,000 for the year ended December 31, 2024, primarily due to increased fees and service charges from e-commerce platforms[51] Impairment and Credit Losses - The impairment loss on financial assets totaled HKD 61,843,000 in 2025, significantly higher than HKD 4,550,000 in 2024[21] - The expected credit loss and impairment loss for receivables and interest amounted to approximately HKD 36,100,000 and HKD 8,000,000, respectively, for the year ending December 31, 2025[48] - The company recognized an impairment loss provision of approximately HKD 3,600,000 for an investment in an associate company for the year ended December 31, 2025[52] Market and Business Outlook - The company aims to expand its business footprint in mainland China and enhance its KOL network, driven by the strong demand for MCN services[49] - The board anticipates that the future performance of listed investments will be volatile and influenced by overall economic conditions and market sentiment[64] - The company plans to utilize the remaining unutilized proceeds from its public offering for various purposes, including the establishment and operation of regulated activities under the Securities and Futures Ordinance[55] Dividends and Shareholder Returns - The company did not declare any dividends for the year 2025, consistent with 2024[26] - The company does not recommend the payment of dividends for the year ended December 31, 2025, consistent with the previous year[53]

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之內容概不負責， 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 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 BFB Health Limited（「本公司」）之董事會（「董事會」）宣佈將於二零二六年三月 三十一日（星期二）舉行董事會會議，藉以（其中包括）考慮及批准本公司與其附 屬公司截至二零二五年十二月三十一日止年度之全年業績及考慮派發股息（如有）。 承董事會命 BFB Health Limited BFB HEALTH LIMITED （於開曼群島註冊成立並於百慕達存續的有限公司） （前稱 SEEC Media Group Limited 財訊傳媒集團有限公司） （股份代號：205） 董事會召開日期 於本公告日期，董事會由執行董事李亮先生、吳滿勝先生、李振先生及周洪濤先生； 及獨立非執行董事羅智鴻先生、方穎女士及郭輝先生組成。 執行董事 李亮 香港，二零二六年三月十九日 ...

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: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: BFB Health Limited（於開曼群島註冊成立並於百慕達存續的有限公司） 呈交日期: 2026年3月4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) | 00205 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | 0.01 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 100,000,000,000 | HKD | 0.01 | H ...

Core Viewpoint - ST Derun (002055.SZ) plans to introduce Shunyi Asia Pacific Limited as an investor for its subsidiary, Shenzhen Polati Electronics, with a total cash investment of RMB 120 million [1] Group 1: Investment Details - The investor will contribute RMB 12 million, with RMB 2.3925 million allocated to registered capital and RMB 9.6075 million to capital reserves [1] - The company will waive its preferential subscription rights and invest RMB 83 million, with RMB 1.65481 million going to registered capital and RMB 6.64519 million to capital reserves [1] - Existing shareholder, Shenzhen Debai Zhilian Technology Partnership, will also waive its preferential subscription rights for this round of funding [1] Group 2: Capital Structure Changes - Following the investment, Shenzhen Polati's registered capital will increase from RMB 11.9625 million to RMB 52.4356 million, adding RMB 40.4731 million in registered capital [1] - The company's ownership stake in Shenzhen Polati will decrease from 60% to 45.25%, resulting in Shenzhen Polati no longer being included in the company's consolidated financial statements [1]

致：香港交易及結算所有限公司 公司名稱: BFB Health Limited（於開曼群島註冊成立並於百慕達存續的有限公司） 呈交日期: 2026年2月4日 I. 法定/註冊股本變動 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: 2026年1月31日 狀態: 新提交 | 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) | 00205 | 說明 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | 0 | | | HKD | | 0 | | 本月底結存 | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | 本 ...

Group 1 - The core viewpoint of the news is that ST Derun (002055) is expected to report a significant reduction in losses for the fiscal year 2025, despite forecasting a net loss of between 25 million to 40 million yuan [2][3] - The company anticipates a net profit of 28 million to 40 million yuan after deducting non-recurring gains and losses, indicating an improvement in its main business operations focused on connector products [2][3] - The company has faced negative impacts on profits due to provisions for expected liabilities related to an administrative penalty from the China Securities Regulatory Commission and investor litigation matters [2] Group 2 - On January 30, 2026, ST Derun's stock closed at 5.88 yuan, reflecting a 1.55% increase with a turnover rate of 3.88% and a trading volume of 230,400 shares, amounting to a transaction value of 137 million yuan [1] - On the same day, the net inflow of main funds was 2.2051 million yuan, indicating active buying behavior, while retail investors experienced a net outflow of 838,600 yuan [2][3]

Summary of Key Points Core Viewpoint - ST Derun (002055) is expected to report a significant loss for the year 2025, while also projecting a positive net profit when excluding non-recurring items, indicating a mixed financial outlook for the company [1][3]. Trading Information - As of January 29, 2026, ST Derun's stock closed at 5.79 yuan, down 1.53%, with a turnover rate of 4.45%, a trading volume of 264,400 shares, and a transaction value of 155 million yuan [1]. Fund Flow - On January 29, 2026, the main funds experienced a net outflow of 288,400 yuan, while speculative funds saw a net outflow of 751,430 yuan. In contrast, retail investors contributed a net inflow of 780,270 yuan [1][3]. Earnings Disclosure Highlights - ST Derun has issued an earnings forecast for 2025, estimating a net profit attributable to shareholders of between -40 million yuan and -25 million yuan. However, the company anticipates a net profit of 28 million yuan to 40 million yuan when excluding non-recurring losses [1][3]. Company Announcement Summary - The 2025 earnings forecast indicates a significant reduction in losses compared to the previous year, primarily due to healthy development in the core connector business and the exclusion of a previously consolidated subsidiary. However, the forecast also reflects a negative impact from provisions related to administrative penalties from the China Securities Regulatory Commission and investor litigation [1][3].

Group 1 - The core point of the article is that Shenzhen Derun Electronics Co., Ltd. (ST Derun) has released its 2025 annual performance forecast, indicating a significant reduction in losses compared to the previous year, despite facing challenges from regulatory penalties and investor lawsuits [1] Group 2 - As of January 29, 2026, ST Derun's stock closed at 5.79 yuan, down 1.53% from the previous trading day, with a total market value of 3.5 billion yuan [1] - The stock opened at 5.86 yuan, reached a high of 5.95 yuan, and a low of 5.73 yuan, with a trading volume of 1.55 billion yuan and a turnover rate of 4.45% [1] - The company expects a net profit attributable to shareholders of between -40 million yuan and -25 million yuan for 2025, while the net profit after deducting non-recurring gains and losses is projected to be between 28 million yuan and 40 million yuan [1] - The improvement in performance is attributed to the healthy development of the main business, a focus on connector business, and the exclusion of losses from a previously consolidated subsidiary [1] - The company has made provisions for expected liabilities due to receiving a notice of administrative penalty from the China Securities Regulatory Commission and investor litigation, which has negatively impacted profits [1]

Core Viewpoint - *ST Tianyu (300205.SZ) is expected to report a loss of between 275 million to 550 million yuan for 2025, with a non-recurring loss of 287 million to 359 million yuan, and operating revenue projected between 160 million to 173 million yuan [1] Financial Performance - The company continues to experience net profit losses attributable to shareholders, primarily due to being on the U.S. SDN sanctions list and facing delisting risk warnings [1] - Significant declines in product sales and revenue have been reported, leading to increased asset impairment losses year-on-year [1] Legal and Operational Challenges - Major litigation has resulted in increased provisions for expected liabilities [1] - The company has recognized asset impairment losses related to its liquidated subsidiary, Shenzhen Changyu Investment Partnership (Limited Partnership) [1]

Core Viewpoint - ST Derun (002055.SZ) expects a net profit attributable to shareholders of between -40 million yuan and -25 million yuan for 2025, with a net profit of 28 million to 40 million yuan after deducting non-recurring gains and losses, indicating a significant reduction in losses compared to the previous year [1] Group 1 - The company's business operations are developing healthily and orderly, focusing on its main business, strengthening internal management, increasing R&D investment, and expanding market reach, which has led to continuous growth in revenue and profitability [1] - The former subsidiary, Meta System S.p.A., will no longer be included in the company's consolidated financial statements by the end of 2024, significantly reducing the negative impact on the company's profit levels [1] - The company received a notice of administrative penalty from the Shenzhen Regulatory Bureau of the China Securities Regulatory Commission (CSRC) on December 31, 2025, and is facing lawsuits from investors following an investigation by the CSRC initiated on December 25, 2024, leading to significant uncertainty regarding potential compensation amounts [1]