Financial Performance - Total revenue for the year ended December 31, 2025, was HKD 36,144,000, a decrease of 44.5% from HKD 65,193,000 in 2024[2] - The company reported a loss attributable to shareholders of HKD 13,268,000 for 2025, compared to a profit of HKD 4,509,000 in 2024[3] - The net loss before tax for 2025 was HKD 9,552,000, a significant decline from a profit of HKD 6,593,000 in 2024[3] - The company reported a basic loss per share of HKD (13,268,000) for the year 2025, compared to a profit of HKD 4,509,000 in 2024[21] - The total comprehensive expenses amounted to HKD 14,865,000 in FY2025, significantly higher than the comprehensive income of HKD 4,884,000 in FY2024[49] Revenue Sources - Interest income from lending activities decreased to HKD 28,175,000 in 2025 from HKD 49,800,000 in 2024, representing a decline of 43.7%[8] - The lending business recorded a 46% decrease in revenue to HKD 28,175,000 in FY2025, down from HKD 51,944,000 in FY2024, and a 22% decrease in profit to HKD 35,643,000[41] - The securities brokerage business saw a 30% decrease in revenue to HKD 7,969,000 in FY2025, down from HKD 11,357,000 in FY2024, with profit dropping 81% to HKD 1,877,000[47] - The trading business generated no revenue in FY2025, consistent with FY2024, with a profit of HKD 8,122,000, down from HKD 10,181,000 in FY2024[40] Assets and Liabilities - Total assets decreased to HKD 2,206,779,000 in 2025 from HKD 2,231,737,000 in 2024, a reduction of 1.1%[4] - The total liabilities increased to HKD 206,857,000 in 2025 from HKD 38,927,000 in 2024, a rise of 431.5%[4] - The company’s equity decreased slightly to HKD 2,201,747,000 in 2025 from HKD 2,216,612,000 in 2024, a decrease of 0.7%[4] - The capital-to-debt ratio stood at approximately 10%, a significant increase from 2% in 2024, with total liabilities rising to HKD 211,889,000[52] Cash and Cash Equivalents - The company’s cash and cash equivalents increased to HKD 1,865,915,000 in 2025 from HKD 1,518,810,000 in 2024, an increase of 22.8%[4] - The company’s cash and bank balances increased from HKD 558,946,000 in 2024 to HKD 783,245,000 in 2025[15] Impairment and Provisions - The company recognized a net loss of HKD 5,626,000 in impairment losses for the year ending December 31, 2025[19] - The impairment provision for loans decreased by 49% to HKD 185,924,000 at year-end, down from HKD 365,835,000 in FY2024[43] - The impairment provision for receivables was HKD 6,212,000 in 2025, down from HKD 10,646,000 in 2024, indicating a decrease of about 41.5%[24] Strategic Acquisitions and Investments - The company completed the acquisition of a 26.3% stake in Citystate Savings Bank, Inc., marking a strategic entry into the Southeast Asian financial services sector[31] - A strategic acquisition of 51% of a target group engaged in digital payment services in Southeast Asia is planned, aimed at diversifying the financial services portfolio[54] - The company invested HKD 9,009,000 in a non-listed bank in the U.S. and HKD 14,799,000 in non-listed fixed-income securities during the fiscal year[36] Operational Strategy and Market Outlook - The company maintained a cautious operational strategy to navigate complex global conditions and geopolitical tensions[31] - The group maintains a cautious optimism regarding business prospects, benefiting from the ongoing recovery in Hong Kong and the vibrant economic activity in Southeast Asia[54] - The group aims to optimize synergies between financial services and business operations while exploring new investment opportunities in response to market changes[55]

董事會謹此知會股東及有意投資者，相對於二零二四年財政年度所錄得約5百萬港元 之溢利，本集團預期二零二五年財政年度將錄得本公司擁有人應佔虧損不多於15百萬 港元。本公佈所載資料僅基於董事會對本集團二零二五年財政年度之未經審核管理賬 目所作出的初步評估，惟未經本公司核數師審閲或審核。就二零二五年財政年度之估 計虧損，其可能會根據現正落實中就本集團應收貸款之預期信貸虧損金額撥備而作出 調整。 然而，上述二零二五年財政年度之估計虧損尚未包括應佔一間聯營公司業績帶來的影 響，該影響仍在評估中。若應佔該聯營公司業績對二零二五年財政年度之估計虧損產 生任何重大影響，本集團將盡快作出進一步公佈。 盈利警告 本公佈乃由本公司根據上市規則第13.09(2)條及證券及期貨條例第XIVA部項下之內幕 消息條文而刊發。 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佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示不會就本公佈全部或任 何部份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。 有關本集團的財務業績及表現之進一步詳情將在預期於二零二六年三月底前作出公 佈之本公司二零二五年財政年度之全年業績公 ...

董事會會議通告 中策資本控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈，本公司將於二 零二六年三月二十六日（星期四）舉行董事會會議，藉以（其中包括）批准本公司及其 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。 承董事會命 中策資本控股有限公司 主席 柯清輝博士 香港，二零二六年三月十六日 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佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示不會就本公佈全部或任 何部份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。 於本公佈日期，董事會包括一名非執行董事柯清輝博士（主席）; 兩名執行董事周 文威先生（行政總裁）及周錦華先生；以及三名獨立非執行董事馬燕芬女士、梁凱 鷹先生及林健鋒先生。 ...

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: 中策資本控股有限公司 (「本公司」) 呈交日期: 2026年3月4日 I. 法定/註冊股本變動 不適用 備註： 本公司並無法定股本及其股本中並無股份面值。 FF301 第 1 頁 共 10 頁 v 1.2.0 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 減少庫存股份: 0 普通股 (AA2) 本月內因行使期權所得資金總額： HKD 0 | 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) | 00235 | 說明 | 普通股 | | | | | | | 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 | | | 20,385,253,835 | | 0 | | 20,385,253,83 ...

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1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: 中策資本控股有限公司 (「本公司」) 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 不適用 備註： 本公司並無法定股本及其股本中並無股份面值。 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 | 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) | 00235 | 說明 | 普通股 | | | | | | | 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 | | | 20,385,253,835 | | 0 | | 20,385,253,835 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 20,385,253, ...

Core Viewpoint - The company, Jerry Holdings (002353.SZ), is accelerating its "second growth curve" amid the global energy transition and computing power explosion, highlighted by a recent $181.5 million gas turbine generator sales contract in North America [1][5]. Group 1: Contract Achievements - Jerry Holdings signed its fourth gas turbine generator sales contract in North America since November 2025, marking a significant expansion in its high-end power market presence [1][5]. - The recent contract, valued at $181.5 million (approximately 1.265 billion RMB), is part of a series of successful orders driven by the urgent demand for power supply in global data centers [5][6]. - The company previously announced a $106 million (approximately 742 million RMB) contract with another U.S. client, indicating a strong order acquisition rhythm [5][6]. Group 2: Product and Market Fit - The company's gas turbine generator products are designed with modularity, allowing for quick assembly and flexible deployment, which addresses the specific power supply needs of data centers [1][5]. - The gas turbine generators are tailored for high-load, high-reliability, and low-emission power scenarios, making them suitable for the growing AI computing power demands [5][6]. Group 3: Supply Chain and Production Capacity - Jerry Holdings has established long-term partnerships with major gas turbine manufacturers like Siemens and Baker Hughes, enhancing its supply chain resilience [6]. - The company is expanding its production capacity in the U.S. and increasing local hiring to meet the rising demand for gas turbine generators [7][8]. Group 4: Future Outlook - The company plans to continue focusing on three key areas: data centers, industrial energy, and new power systems, aiming to enhance technological innovation and product delivery capabilities [8].

Core Viewpoint - The company, Jereh Group, is accelerating its "second growth curve" by successfully signing a significant gas turbine generator sales contract worth $181.5 million (approximately 1.265 billion RMB) with a U.S. client, marking its fourth such contract in North America since November 2025 [1][4]. Group 1: Contract Details - The recent contract is valued at $181.5 million, making it the fourth gas turbine generator sales contract signed with U.S. clients since November 2025 [4]. - The company had previously announced a $106 million (approximately 742 million RMB) sales contract on January 14, which was a repeat order from the same client, bringing the total contract value with that client to $212 million, accounting for 11.11% of the company's audited revenue for 2024 [4]. Group 2: Market Demand and Product Features - The surge in orders is driven by the urgent demand for power supply in global data centers, particularly due to the explosive growth in AI computing power [4]. - The gas turbine generator sets are designed for data center power supply, featuring a modular design that allows for quick assembly, flexible relocation, and reduced nitrogen oxide emissions, meeting the high-load, high-reliability, and low-emission requirements of data centers [5]. Group 3: Supply Chain and Production Capacity - The company has established long-term partnerships with major gas turbine manufacturers such as Siemens, Baker Hughes, and Kawasaki Heavy Industries, enhancing its supply chain resilience [5]. - Jereh Group is expanding its production capacity in the U.S. and increasing local hiring to strengthen its supply chain and delivery response speed [6][7]. Group 4: Delivery Timeline and Risks - The delivery timeline for the recent contract has been extended to 30 months, which introduces uncertainties in revenue recognition and execution due to potential macroeconomic changes and currency fluctuations [6]. - To mitigate risks associated with the long delivery period, the company has implemented strict payment terms, requiring a percentage of prepayment and full payment before equipment delivery [6].

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: 中策資本控股有限公司 (「本公司」) 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 不適用 備註： 本公司並無法定股本及其股本中並無股份面值。 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 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) | 00235 | 說明 | 普通股 | | | | | | | | 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 | | | 20,385,253,835 | | 0 | | 20,385,253,835 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 ...

Group 1 - The core point of the article highlights that Jerry Holdings (杰瑞股份) has attracted significant institutional interest, with 193 institutions conducting research on the company, including 57 fund companies and 48 securities firms [1][9] - Jerry Holdings has secured major contracts recently, including a sales contract for generator sets worth over $100 million with a global AI industry giant and another similar contract with a North American client [1] - The company attributes its rapid entry into the data center power generation business to the reliability, responsiveness, and flexibility of its power generation equipment, which meets high standards in various sectors [1][2] Group 2 - The company has built a global supply chain system and established stable partnerships with gas turbine manufacturers like Siemens and Baker Hughes, ensuring reliable product delivery [2] - Following the positive news, Jerry Holdings' stock price has reached historical highs, with a weekly increase of over 26% [4] - Other companies such as Yihua (怡合达), Yingstone Network (萤石网络), and Hotgen Biotech (热景生物) have also attracted significant institutional research interest, with over 100 institutions each [5][6]

Group 1: Market Overview - During the week of December 1 to December 5, 223 listed companies received institutional research, with only 30% of the stocks under research achieving positive returns [1] - Notable stock performances included Hai Xin Food rising nearly 32%, and companies like Tongyu Communication, Jereh, and Kexiang rising over 20% [1] Group 2: Jereh Group - Jereh Group remained the most researched company, with 176 institutions participating in its December 2 research, resulting in a cumulative increase of 26.40% in its stock price [2][10] - The company signed a sales contract for power generation units worth over $100 million with a global AI industry giant, marking a strategic upgrade in the North American market [4][12] - Jereh's management indicated plans to continue focusing on data centers, industrial energy, and new power systems, emphasizing technological innovation and product iteration [4][12] Group 3: Tianhua New Energy - Tianhua New Energy hosted 76 institutional research sessions, with a focus on its lithium battery materials business, which accounts for over 90% of its revenue [5][13] - The company is set to have CATL as a strategic investor, acquiring 13.54% of its shares, which is expected to enhance operational stability and governance [5][13] - Tianhua's lithium salt production capacity currently stands at 16.5 million tons per year, with plans to expand to 25-26 million tons based on market demand [6][14] Group 4: Three Gorges Tourism - Three Gorges Tourism received attention from 60 institutions regarding its inter-provincial cruise project, with the first two self-built cruise ships expected to be operational by mid-2026 [7][15] - The company reported a low debt ratio of 18.81% as of Q3 2025, indicating strong financial health and no immediate plans for equity financing [15] Group 5: Dajin Heavy Industry - Dajin Heavy Industry welcomed 58 institutions for research, highlighting advancements in shipbuilding and overseas business expansion [8][17] - The company introduced the III-type ship, a multifunctional transport vessel, and secured a contract worth approximately 1.339 billion yuan for a project with a leading European energy company [8][16] - Dajin plans to deepen its presence in the European offshore wind market, focusing on assembly manufacturing and local service provision [9][17]