公 司 條 例 ( 第 622 章 ) 公 眾 股 份 有 限 公 司 TIAN TECK LAND LIMITED （ 天 德 地 產 有限 公司 ） (股 份 代 號 ： 266) 之 組織章程細則 (經 於 2014 年 9 月 3 日通過之特別決議案採納及 包 括 其 後 截 至 2025 年 9 月 5 日之所有修訂 ) 1969 年 9 月 24 日註冊成立 香 港 本組織章程細則為未經本公司股東於股東大會正式採納的綜合版。 註︰ 本組織章程細則之中文譯本只供參考，如中英文版內容有差異或不一致，一概以英文版為準。 公 司 條 例 （ 第 622 章 ） ___________________________ 公 眾 股 份 有 限 公 司 ___________________________ TIAN TECK LAND LIMITED * （ 天 德 地 產 有 限 公 司 ） 之 組 織 章 程 細 則 （經 於 2014 年 9 月 3 日通過之特別決議案採納及 包括其後截至 2025 年 9 月 5 日之所有修訂 ） 引言 章程細則範 本不適用 1. (A) 《公司（章程細則範本）公告》 ...

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，概不對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的任何損失承擔任何責任。 （於香港註冊成立的有限公司） （股份代號︰266） 二零二五年九月五日舉行之股東周年大會 以點票方式投票之表決結果 香港，二零二五年九月五日 於本公告之日，鍾琼林先生、鍾炯輝先生、鍾燊南先生、鍾聰玲女士、鍾仲涵先生和鍾振裕先生均為執行董事；周雲海先生、黃耀德先生和 謝鵬元先生則為獨立非執行董事。 天德地產有限公司（「本公司」）在二零二五年九月五日舉行的股東周年大會（「大會」）上，以點票方 式就二零二五年七月二十五日股東周年大會通告（「大會通告」）中所提呈之決議案進行投票。本公司之 股票登記處 — 香港中央證券登記有限公司獲授權而在大會擔任投票監察員。載於大會通告之所有決議案均 獲本公司股東投票通過，點票結果如下︰ 3. 本公司所有董事均親自出席大會。 4. 除特別註明外，本公司於二零二五年七月二十五日之通函中所有經定義之詞彙在本公告具相同意思。 承董事會命 天德地產有限公司 主席 鍾琼林 | 普通決議案 ...

| 截至月份: | 2025年8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: | 天德地產有限公司 | | | 呈交日期: | 2025年9月1日 | | | I. 法定/註冊股本變動 不適用 | | | 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 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) | 00266 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 474,731,824 | | 0 | | 474,731,824 | | 增加 / 減少 (-) | | | | | | | | ...

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7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: | 天德地產有限公司 | | | | 呈交日期: | 2025年8月1日 | | | | I. 法定/註冊股本變動 | 不適用 | | | 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) | 00266 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 474,731,824 | | 0 | | 474,731,824 | | 增加 / 減少 (-) ...

Group 1 - Tian De Real Estate (00266.HK) announced that Wu Xiufang has resigned from the position of company secretary, effective from August 1, 2025 [1] - The company also announced that Wu Xiuwai has been appointed as the new company secretary, effective from August 1, 2025 [1]

智通财经APP讯，天德地产(00266)发布公告，吴秀芳女士已辞任公司公司秘书一职，并自2025年8月1日 起生效。 伍秀薇女士已获委任为公司秘书，并自2025年8月1日起生效。 ...

天德地产(00266)发布公告，吴秀芳女士已辞任公司公司秘书一职，并自2025年8月1日起生效。 伍秀薇女士已获委任为公司秘书，并自2025年8月1日起生效。 ...

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，概不對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的任何損失承擔任何責任。 更換公司秘書 天德地產有限公司（「本公司」）董事會（「董事會」）謹此宣佈，吳秀芳女士已辭任本公司公司秘書 （「公司秘書」）一職，並自二零二五年八月一日起生效。 吳秀芳女士已確認，彼與董事會並無意見分歧，亦沒有關於其辭任的事宜須敦請本公司股東及香港聯合交易 所有限公司垂注。 董事會另宣佈，伍秀薇女士（「伍女士」）已獲委任為公司秘書，並自二零二五年八月一日起生效。 （於香港註冊成立的有限公司） （股份代號：266） 伍女士為達盟香港有限公司上市公司服務部之董事兼主管，負責向上市公司客戶提供公司秘書及合規服務。 彼於公司秘書領域擁有超過二十年經驗。伍女士持有倫敦大學法律碩士學位及香港城市大學法律學士學位。 彼為特許秘書、特許企業管治專業人員，以及香港公司治理公會及英國特許公司治理公會資深會士。 董事會謹此向吳秀芳女士於任內對本公司的貢獻致以衷心謝意，並歡迎伍女士履新。 承董事會命 天德地產有限公司 主席 鍾琼林 ...

Stock Code 股份代號：266 2024-2025 Annual Report 年 報 The translation into Chinese language of this annual report is for reference only. In case of any inconsistency, the English version shall prevail. 本年報之中文譯本只供參考，如中英文本有任何差異，一概以英文本為準。 Contents 目錄 | 2 | Corporate Information | 公司資料 | | --- | --- | --- | | 3 | Chairman's Statement | 主席報告 | | 4 | Properties | 物業概覽 | | 5 | Corporate Governance Report | 企業管治報告 | | 39 | Corporate Social Responsibility Report | 企業社會責任報告 | | 67 | Directors' Report | 董事會報告 | | 85 | Biogr ...

Financial Performance Overview [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=%E7%BB%BC%E5%90%88%E6%8D%9F%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E5%85%A5%E8%A1%A8) The Group shifted from profit to loss for the year ended March 31, 2025, mainly due to significant valuation losses on investment properties Consolidated Statement of Profit or Loss | Metric | 2025 (in thousands of Yuan) | 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | Revenue | 308,131 | 304,557 | | Gross Profit | 210,726 | 207,692 | | Operating profit before changes in valuation of investment properties | 188,738 | 188,755 | | (Loss)/gain on valuation of investment properties | (753,794) | 230,905 | | Operating (loss)/profit after changes in valuation of investment properties | (565,056) | 419,660 | | (Loss)/profit before taxation | (576,295) | 408,128 | | (Loss)/profit and total comprehensive income for the year | (602,250) | 382,080 | | (Loss)/profit attributable to equity shareholders of the Company | (321,982) | 193,732 | | Basic and diluted (loss)/earnings per share | (0.68) Yuan | 0.41 Yuan | - The valuation of investment properties shifted from a **gain of 230,905 thousand Yuan in 2024 to a loss of 753,794 thousand Yuan in 2025**, driving the Group's overall loss[3](index=3&type=chunk) - Basic and diluted earnings per share decreased from **0.41 Yuan in 2024 to a loss per share of 0.68 Yuan in 2025**[3](index=3&type=chunk) [Consolidated Statement of Financial Position](index=2&type=section&id=%E7%BB%BC%E5%90%88%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5%E8%A1%A8) As of March 31, 2025, the Group's total assets and net assets decreased, primarily due to a decline in the value of investment properties Consolidated Statement of Financial Position | Metric | As at March 31, 2025 (in thousands of Yuan) | As at March 31, 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | Non-current assets - Investment properties | 7,250,030 | 8,001,439 | | Total non-current assets | 7,294,718 | 8,050,055 | | Net current assets | 558,754 | 547,224 | | Total assets less current liabilities | 7,853,472 | 8,597,279 | | Total non-current liabilities | 332,367 | 324,180 | | Net assets | 7,521,105 | 8,273,099 | | Total equity | 7,521,105 | 8,273,099 | - The value of investment properties decreased from **8,001,439 thousand Yuan in 2024 to 7,250,030 thousand Yuan in 2025**, being the main driver for the decline in non-current and total assets[5](index=5&type=chunk) - Net current assets slightly increased from **547,224 thousand Yuan in 2024 to 558,754 thousand Yuan in 2025**[5](index=5&type=chunk) Notes to the Financial Statements [Basis of Preparation](index=3&type=section&id=%E7%BC%96%E5%88%B6%E5%9F%BA%E6%BA%96) The financial statements are prepared in accordance with HKFRSs, the Hong Kong Companies Ordinance, and the Listing Rules, with an unmodified auditor's opinion - The financial statements are prepared in compliance with Hong Kong Financial Reporting Standards (HKFRSs) and the Hong Kong Companies Ordinance[7](index=7&type=chunk) - The auditor, KPMG, issued an **unmodified opinion** on the Group's financial statements for both years[9](index=9&type=chunk) [Changes in Accounting Policies](index=3&type=section&id=%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E7%9A%84%E5%8F%98%E5%8A%A8) New and amended HKFRSs effective this year had no material impact on the Group's financial performance, and no new standards were early adopted - Changes in Hong Kong Financial Reporting Standards effective this year did not have a material impact on the Group's performance and financial position[10](index=10&type=chunk) - The Group has not adopted any new standards or interpretations that are not yet effective for the current accounting period[11](index=11&type=chunk) [Revenue](index=3&type=section&id=%E6%94%B6%E5%85%A5) The Group's principal activity is property investment, with revenue mainly from rental income, and one customer accounted for over 10% of revenue - The Group's principal activity is property investment, with revenue representing gross rental income received and receivable from investment properties[12](index=12&type=chunk)[13](index=13&type=chunk) Revenue Breakdown | Metric | 2025 (in thousands of Yuan) | 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | Total Revenue | 308,131 | 304,557 | | Single Customer Revenue | 33,600 | 37,939 | - Revenue from a single customer accounted for **over 10% of the Group's total revenue**, though the contribution decreased from 37,939 thousand Yuan in 2024 to 33,600 thousand Yuan in 2025[13](index=13&type=chunk) [Segment Information](index=4&type=section&id=%E5%88%86%E9%83%A8%E8%B5%84%E6%96%99) The Group operates under a single reportable segment, 'Property leasing', so segment information aligns with the consolidated figures - The Group has only one reportable segment, 'Property leasing', and its business segment information is the same as the consolidated figures[15](index=15&type=chunk) - Geographical information is not presented separately as revenue and results are derived from Hong Kong and Mainland China[16](index=16&type=chunk) [Other Income and Net Loss](index=4&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5%E5%8F%8A%E4%BA%8F%E6%8D%9F%E5%87%80%E9%A2%9D) The Group's other income, mainly from interest, decreased, while other net losses, primarily from foreign exchange, were significantly reduced Other Income and Net Loss Breakdown | Metric | 2025 (in thousands of Yuan) | 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | **Other income** | | | | Interest income | 20,934 | 24,063 | | Others | 1,402 | 1,561 | | **Total other income** | 22,336 | 25,625 | | **Other net loss** | | | | Net foreign exchange loss | (163) | (1,946) | | Net loss on disposal of fixed assets | (1) | (2) | | **Total other net loss** | (164) | (1,948) | - Interest income decreased from **24,063 thousand Yuan in 2024 to 20,934 thousand Yuan in 2025**[17](index=17&type=chunk) - Net foreign exchange loss significantly decreased from **1,946 thousand Yuan in 2024 to 163 thousand Yuan in 2025**[17](index=17&type=chunk) [(Loss)/Profit Before Taxation](index=4&type=section&id=%E9%99%A4%E7%A8%8E%E5%89%8D%EF%BC%88%E4%BA%8F%E6%8D%9F%EF%BC%89%E2%95%B1%E6%BA%A2%E5%88%A9) The pre-tax loss was mainly driven by changes in investment property valuation, with a slight decrease in finance costs and an increase in impairment losses Breakdown of Selected Items | Metric | 2025 (in thousands of Yuan) | 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | **Finance costs** | | | | Interest on bank loans | 10,438 | 11,206 | | Other borrowing costs | 730 | 250 | | Interest on government land premium payable | 71 | 76 | | **Total finance costs** | 11,239 | 11,532 | | **Other items** | | | | Depreciation charge | 4,323 | 4,539 | | Impairment losses on trade receivables | 2,304 | 1,095 | - Total finance costs slightly decreased from **11,532 thousand Yuan in 2024 to 11,239 thousand Yuan in 2025**[17](index=17&type=chunk) - Impairment losses on trade receivables increased from **1,095 thousand Yuan in 2024 to 2,304 thousand Yuan in 2025**[17](index=17&type=chunk) [Income Tax](index=5&type=section&id=%E6%89%80%E5%BE%97%E7%A8%8E) The Group's total income tax remained stable, comprising Hong Kong Profits Tax and Mainland China Enterprise Income Tax Income Tax Breakdown | Metric | 2025 (in thousands of Yuan) | 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | **Current tax** | | | | Hong Kong Profits Tax | 17,775 | 17,811 | | Mainland China Enterprise Income Tax | 35 | 50 | | **Deferred tax** | | | | Change in fair value of investment properties | (131) | (123) | | Origination and reversal of temporary differences | 8,276 | 8,310 | | **Total income tax** | 25,955 | 26,048 | - Hong Kong Profits Tax is calculated at a rate of **16.5%**, with some subsidiaries applying the two-tiered rates of 8.25% and 16.5%[19](index=19&type=chunk) - Total deferred tax decreased slightly from **8,187 thousand Yuan in 2024 to 8,145 thousand Yuan in 2025**[19](index=19&type=chunk) [Dividends](index=5&type=section&id=%E8%82%A1%E6%81%AF) The Board proposed a final dividend of 0.08 Yuan per share, bringing the total dividend for the year to 0.14 Yuan per share, a decrease from the prior year Dividend Summary | Dividend Type | 2025 (in thousands of Yuan) | 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | Interim dividend declared and paid (0.06 Yuan per share) | 28,484 | 28,484 | | Proposed final dividend (0.08 Yuan per share) | 37,979 | 47,473 | | **Total dividends for the year** | 66,463 | 75,957 | - The proposed final dividend decreased from **0.10 Yuan per share in 2024 to 0.08 Yuan per share in 2025**[20](index=20&type=chunk) - The total dividend for the year is **0.14 Yuan per share**, lower than the 0.16 Yuan per share in 2024[30](index=30&type=chunk) [(Loss)/Earnings Per Share](index=6&type=section&id=%E6%AF%8F%E8%82%A1%EF%BC%88%E4%BA%8F%E6%8D%9F%EF%BC%89%E2%95%B1%E7%9B%88%E5%88%A9) Basic loss per share was 0.68 Yuan, based on the loss attributable to equity shareholders and the number of issued shares, with no potential dilutive shares (Loss)/Earnings Per Share Calculation | Metric | 2025 | 2024 | | :--- | :--- | :--- | | (Loss)/profit attributable to equity shareholders of the Company | (321,982,000) Yuan | 193,732,000 Yuan | | Number of shares in issue | 474,731,824 shares | 474,731,824 shares | | Basic and diluted (loss)/earnings per share | (0.68) Yuan | 0.41 Yuan | - Basic earnings per share shifted from a **profit of 0.41 Yuan in 2024 to a loss of 0.68 Yuan in 2025**[22](index=22&type=chunk) - There were **no potential dilutive shares** in either 2025 or 2024[22](index=22&type=chunk) [Trade Receivables, Deposits and Prepayments](index=6&type=section&id=%E5%BA%94%E6%94%B6%E8%B4%A6%E6%AC%BE%E3%80%81%E8%AE%A2%E9%87%91%E5%8F%8A%E9%A2%84%E4%BB%98%E6%AC%BE) Total trade receivables, net of credit loss allowance, increased at the end of the reporting period, with a decrease in amounts overdue by more than 3 months Aging Analysis of Trade Receivables | Aging | As at March 31, 2025 (in thousands of Yuan) | As at March 31, 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | Not yet due | 101,147 | 89,328 | | Overdue by less than 1 month | 3,881 | 5,636 | | Overdue by 1 to 3 months | 3,736 | 4,554 | | Overdue by more than 3 months but less than 12 months | 388 | 1,159 | | Overdue by more than 12 months | 1,327 | 3,519 | | **Total overdue amount** | 9,332 | 14,868 | | **Total trade receivables** | 110,479 | 104,196 | | Deposits and prepayments | 9,984 | 10,250 | | **Total** | 120,463 | 114,446 | - Total trade receivables (net of credit loss allowance) increased from **104,196 thousand Yuan in 2024 to 110,479 thousand Yuan in 2025**[23](index=23&type=chunk) - Receivables overdue for more than 3 months decreased from **4,678 thousand Yuan (1,159+3,519) in 2024 to 1,715 thousand Yuan (388+1,327) in 2025**[23](index=23&type=chunk) [Other Payables and Accrued Charges](index=6&type=section&id=%E5%85%B6%E4%BB%96%E5%BA%94%E4%BB%98%E6%AC%BE%E5%8F%8A%E5%BA%94%E8%AE%A1%E8%B4%B9%E7%94%A8) All other payables and accrued charges are expected to be settled within one year - All other payables and accrued charges are expected to be settled within one year[25](index=25&type=chunk) Business Review and Outlook [Business Review](index=7&type=section&id=%E4%B8%9A%E5%8A%A1%E5%9B%9E%E9%A1%BE) For fiscal year 2025, operating profit before valuation changes was stable, but a significant valuation loss on investment properties was recorded - Operating profit before changes in the valuation of investment properties was **188,700,000 Yuan**, similar to the previous financial year[29](index=29&type=chunk) - The valuation of investment properties shifted from a **gain of 230,900,000 Yuan last year to a loss of 753,800,000 Yuan this year**, with no impact on cash flow[29](index=29&type=chunk) Key Performance Indicators | Metric | 2025 (in thousands of Yuan) | 2024 (in thousands of Yuan) | | :--- | :--- | :--- | | (Loss)/profit attributable to equity shareholders | (322,000) | 193,700 | | iSQUARE rental income | 296,500 | 290,000 (estimated) | | iSQUARE occupancy rate | 77.1% | 73.1% | | Group's total equity | 7,521,100 | 8,273,100 | | Gearing ratio | 2.7% | 2.4% | | Number of employees | 38 persons | 37 persons | | Staff-related expenses | 32,400 | 30,400 | - Rental income from iSQUARE increased by approximately **2.3%**, and the occupancy rate rose from **73.1% to 77.1%**[29](index=29&type=chunk) - The Group's total equity decreased from **8,273,100 thousand Yuan to 7,521,100 thousand Yuan**, and the gearing ratio increased from **2.4% to 2.7%**[29](index=29&type=chunk) [Outlook](index=7&type=section&id=%E5%B1%95%E6%9C%9B) Management anticipates a negative impact on rental income and operating results next year due to the slow recovery of Hong Kong's retail and F&B sectors - The recovery of Hong Kong's retail and food and beverage sectors is hindered by changes in the spending patterns of residents and tourists[28](index=28&type=chunk) - Management expects a **negative impact** on the rental income of iSQUARE and the Group's operating results in the next financial year[28](index=28&type=chunk) - Management will continue to take appropriate measures to cope with the changing environment[28](index=28&type=chunk) Corporate Governance and Compliance [Dividends](index=8&type=section&id=%E8%82%A1%E6%81%AF) The Board proposed a final dividend of 0.08 Yuan per share, bringing the total annual dividend to 0.14 Yuan per share, payable on October 17, 2025 - The Board of Directors recommends a final dividend of **0.08 Yuan per share** for the year ended March 31, 2025 (2024: 0.10 Yuan per share)[30](index=30&type=chunk) - The Company has paid an interim dividend of **0.06 Yuan per share** (2024: 0.06 Yuan per share)[30](index=30&type=chunk) - The total dividend for the year is **0.14 Yuan per share** (2024: 0.16 Yuan per share)[30](index=30&type=chunk) - The proposed final dividend will be paid on **October 17, 2025**, to members on the register as of September 22, 2025[30](index=30&type=chunk) [Annual General Meeting and Record Dates](index=8&type=section&id=%E8%82%A1%E6%9D%B1%E5%91%A8%E5%B9%B4%E5%A4%A7%E6%9C%83%E5%8F%8A%E8%A8%98%E9%8C%84%E6%97%A5%E6%9C%9F) The Annual General Meeting will be held on September 5, 2025, with specific record dates set for determining attendance and dividend eligibility - The Annual General Meeting will be held on **Friday, September 5, 2025**[31](index=31&type=chunk) Record Date for AGM Eligibility | Event | Date/Time | | :--- | :--- | | Last time to lodge transfer documents for registration | 4:30 p.m. on Thursday, August 28, 2025 | | Closure of register of members | Friday, August 29, 2025 to Friday, September 5, 2025 | | Record date | Friday, September 5, 2025 | Record Date for Final Dividend Eligibility | Event | Date/Time | | :--- | :--- | | Last time to lodge transfer documents for registration | 4:30 p.m. on Wednesday, September 17, 2025 | | Closure of register of members | Thursday, September 18, 2025 to Monday, September 22, 2025 | | Record date | Monday, September 22, 2025 | [Purchase, Sale or Redemption of the Company's Listed Securities](index=9&type=section&id=%E6%9C%AC%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E9%99%84%E5%B1%9E%E5%85%AC%E5%8F%B8%E8%B4%AD%E5%9B%9E%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B5%8E%E5%9B%9E%E5%85%B6%E4%B8%8A%E5%B8%82%E8%AF%81%E5%88%B8) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year - During the year, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed securities[35](index=35&type=chunk) [Compliance with the Corporate Governance Code](index=9&type=section&id=%E9%81%B5%E5%AE%88%E3%80%8A%E4%BC%81%E4%B8%9A%E7%AE%A1%E6%B2%BB%E5%AE%88%E5%88%99%E3%80%8B) The Company complied with the Corporate Governance Code in FY2025 with a few deviations, including insurance, role overlap, and internal audit function - The Company has **not arranged appropriate insurance cover** for legal actions against its directors, as the Board considers the risk low and the cost not justifiable[36](index=36&type=chunk) - The roles of **Chairman and Chief Executive Officer are held by the same individual**, but the Board believes the current structure maintains a balance of power[37](index=37&type=chunk) - The Company currently **does not have an internal audit function**, as the Board deems existing risk management sufficient and establishing one not cost-effective[39](index=39&type=chunk)[40](index=40&type=chunk) - Details of senior management's remuneration by band are **not disclosed** in the annual report to avoid undue comparison and protect sensitive information[41](index=41&type=chunk) [Model Code for Securities Transactions](index=10&type=section&id=%E8%AF%81%E5%88%B8%E4%BA%A4%E6%98%93%E7%9A%84%E6%A8%99%E6%BA%96%E5%AE%88%E5%89%87) The Company has adopted the Model Code for Securities Transactions by Directors, and all directors confirmed compliance for the 2025 fiscal year - The Company has adopted the **Model Code for Securities Transactions by Directors of Listed Issuers**[42](index=42&type=chunk) - All directors have confirmed their compliance with the Model Code for the financial year ended March 31, 2025[42](index=42&type=chunk) [Amendments to the Articles of Association](index=11&type=section&id=%E7%BB%84%E7%BB%87%E7%AB%A0%E7%A8%8B%E7%BB%86%E5%88%99%E7%9A%84%E4%BF%AE%E8%AE%A2) The Board proposes amending the Articles of Association to align with regulations on virtual meetings and treasury shares, subject to shareholder approval - The Board proposes to amend the Articles of Association to comply with the Listing Rules and Companies Ordinance regarding **virtual or hybrid general meetings, electronic voting, and treasury shares**[44](index=44&type=chunk) - The proposed amendments are subject to the passing of a **special resolution** by shareholders at the upcoming Annual General Meeting[44](index=44&type=chunk) [Publication of Annual Results and Annual Report](index=11&type=section&id=%E5%B9%B4%E5%BA%A6%E4%B8%9A%E7%BB%A9%E5%8F%8A%E5%B9%B4%E6%8A%A5%E4%B9%8B%E5%88%8A%E5%8F%91) This announcement is available on the HKEX and company websites, and the full annual report for the year ended March 31, 2025, will be dispatched later - This announcement is published on the websites of Hong Kong Exchanges and Clearing Limited and the Company[45](index=45&type=chunk) - The annual report for the year ended March 31, 2025, will be dispatched to members and published on the websites in due course[45](index=45&type=chunk)