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。 有關租賃及使用權之 關連交易 一 於 2025 年 7 月 30 日，本集團與業主（其為本公司之控股股東楊志誠之全資附屬公司） 訂立兩份有關香港景福大廈物業租賃與使用於該處的電話機，及景福大廈 3 樓的配件、 傢俬及用具使用權之租賃協議。該等協議構成本公司根據上市規則第 14A.76(2)(a)條毋 須股東批准的關連交易。 兩份日期均為 2025 年 7 月 30 日之租賃協議 訂約方 業主： 丹威置業有限公司 租客： 本公司及景福珠寶（本公司之全資附屬公司） 交易 訂約雙方就有關香港德輔道中 30-32 號景福大廈地庫、地下、閣樓及 3 樓（包括平台）、 5 樓、7 樓、8 樓、9 樓及 10 樓之租賃與使用於該處合共 84 套電話機／插座，及在其 3 樓的配件、傢俬及用具的使用權訂立該等協議。每份協議為期 1 年，由 2025 年 8 月 16 日起至 2026 年 8 月 15 日止（包括首尾兩天） ...

目 錄 2 公司資料 3 董事及高級管理人員簡歷 6 主席報告書 7 管理層討論及分析 10 董事會報告書 15 企業管治報告 22 風險管理及內部監控報告 25 獨立核數師報告書 29 綜合損益及其他全面收益表 30 綜合財務狀況表 32 綜合權益變動表 33 綜合現金流量表 34 綜合財務報表附註 84 投資物業概況 85 五年財務概況 公司資料 | 董事會 | 執行董事 | | --- | --- | | （於本年報日期） | （主席） 鄧日燊先生B.Sc., M.B.A., G.B.S., J.P. | | | 馮鈺斌博士 | | | 非執行董事 | | | 何厚浠先生 | | | 孔令成先生 | | | 何維珊女士 | | | 獨立非執行董事 | | | 鄭家成先生 | | | 鄭國成先生 | | | 侯旦丹女士 | | | 冼雅恩先生 | | 授權代表 | 鄧日燊先生B.Sc., M.B.A., G.B.S., J.P. | | | 梁佩玲女士 | | 公司秘書 | 梁佩玲女士 | | 核數師 | 香港立信德豪會計師事務所有限公司 | | | 執業會計師 | | 主要往來銀行 | 恒生銀行有限公司 ...

Core Viewpoint - *ST Zitian (300280) is facing potential delisting due to failure to rectify issues identified in its annual reports, which contained significant false records of revenue totaling 2.499 billion yuan, accounting for 63.53% of the reported revenue for 2022 and 2023 [6][3]. Group 1: Company Announcements - On July 20, *ST Zitian announced that its stock may be delisted and will be suspended from trading starting July 21 [3]. - The company has not completed the required rectification within the mandated timeframe, leading to a suspension of its stock from March 17, 2025 [6]. - The company received an administrative penalty notice from the Fujian Securities Regulatory Bureau on June 27, indicating serious violations in its financial reporting [6]. Group 2: Stock Performance - From July 11 to July 18, *ST Zitian's stock price fell by a cumulative 50%, indicating severe abnormal trading activity [7]. - On July 18, the stock price dropped over 13%, closing at 2.74 yuan per share, with a total market capitalization of 444 million yuan [7]. - Since the beginning of the year, the stock has experienced a total decline of 87.01% [7]. Group 3: Investor Activity - During the period of significant stock price fluctuation (July 11-18), retail investors dominated trading, accounting for 99.62% of total buy transactions and 97.06% of total sell transactions [8]. - Retail investors made a net purchase of 39.53 million yuan during this period, with total buy and sell amounts reaching 989 million yuan and 963 million yuan, respectively [8].

Core Viewpoint - *ST Zitian is facing severe penalties and potential delisting due to significant financial misconduct, including inflated revenues and profits, as well as non-compliance with regulatory requirements [1][19]. Financial Violations - The company has been found to have inflated revenues by a total of 24.99 billion yuan over the years 2022 and 2023, which constitutes 63.53% of the total reported annual revenue for those years [1][19]. - Specific instances of financial misconduct include: - In 2022, the company inflated revenue by 2.28 billion yuan (13.08% of reported revenue) by incorrectly recognizing income from internet advertising services [5]. - The company also reported fictitious SMS sending services, leading to an inflated revenue of 7.78 billion yuan (44.59% of reported revenue) and inflated profit of 0.85 billion yuan (35.99% of reported profit) for 2022 [5]. - For the first half of 2023, the company prematurely recognized revenue of 2.07 billion yuan (14.56% of reported revenue) and profit of 0.79 billion yuan (51.64% of reported profit) from unverified cloud services [5]. - In 2023, the company inflated revenue by 17.2 billion yuan (78.63% of reported revenue) from the same internet advertising services [5]. Regulatory Actions - The regulatory body has issued multiple administrative penalties against *ST Zitian, including a total fine of approximately 40 million yuan for various violations, including obstructing law enforcement [6][8]. - The company has been warned and fined for failing to disclose its annual report within the legal timeframe, with fines totaling 3.5 million yuan for the company and additional fines for its executives [8]. Risk of Delisting - The company is at high risk of delisting due to multiple violations, including failure to rectify issues within the specified timeframe, major legal violations, and failure to disclose annual reports [2][19]. - The company has been placed under a delisting risk warning, and if it does not complete necessary rectifications within two months, it may face termination of its stock listing [17][22]. Management and Compliance Issues - The management team has been uncooperative during regulatory investigations, failing to provide required financial documents and not responding to communications from regulatory authorities [11][12]. - The company has not initiated the necessary audit and reporting processes for its annual report, leading to further compliance issues [14][15].

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，概不對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之任 何損失承擔任何責任。 截至2025年3月31日止財政年度之 日止財政年度之集團業績 景福集團有限公司（「本公司」）董事會（「董事會」）宣佈，本公司及其附屬公司（統稱「本集團」）於截至 2025 年 3 月 31 日止財政年度之經審核綜合財務報表連同去年經審核之比較數字如下： | | | 截至 3 月 31 | 日止年度 | | --- | --- | --- | --- | | | | 2025 年 | 2024 年 | | | 附註 | 千港元 | 千港元 | | 收入 | 6 | 885,991 | 775,573 | | 銷售成本 | | (611,349) | (534,788) | | 毛利 | | 274,642 | 240,785 | | 其他收益及收入 | 7 | 20,291 | 21,900 | | 分銷及銷售成本 | | (124,073) | (109,365) | | 行政開支 | | (56,18 ...

Core Viewpoint - Tian Shun Co., Ltd. (002800) reported a closing price of 12.29 yuan on April 25, 2025, with a 3.02% increase, indicating positive market sentiment despite mixed fund flows [1] Fund Flow Summary - On April 25, 2025, the net inflow of main funds was 14.87 million yuan, accounting for 6.71% of the total transaction amount, while retail investors experienced a net outflow of 8.69 million yuan, representing 3.92% of the total [1][2] - Over the past five days, the stock has seen fluctuating fund flows, with notable net inflows and outflows from different investor categories [2] Financial Performance Summary - For Q1 2025, Tian Shun Co., Ltd. reported a main revenue of 246 million yuan, a year-on-year increase of 43.32%, but a net profit attributable to shareholders of 1.93 million yuan, a decline of 49.48% [3] - The company’s gross profit margin stood at 5.1%, significantly lower than the industry average of 15.1%, indicating potential challenges in profitability [3] - Key financial metrics include a total market value of 1.87 billion yuan, a net asset value of 529 million yuan, and a debt ratio of 55.41% [3] Industry Comparison - Tian Shun Co., Ltd. ranks below industry averages in several key metrics, including net profit, price-to-earnings ratio (241.8 vs. industry average of 40.14), and return on equity (0.37% vs. industry average of 2.82%) [3]

紫天科技(300280)4月22日晚间公告称，公司原定于2025年4月23日披露公司2024年年度报告以及2025年 第一季度报告。截至公告日，因公司仍未聘请年审会计师，预计无法在法定期限（2025年4月30日）前 披露2024年年度报告及2025年第一季度报告。 深夜突发！ 公告称，2024年5月20日，公司召开2023年年度股东大会，审议通过聘请北京亚泰国际会计师事务所 （特殊普通合伙）(简称"亚泰国际")为公司2024年度审计机构。公司于2025年4月14日收到亚泰国际发 来的《通知函》，告知公司截至2025年4月11日仍未与亚泰国际签订2024年度审计业务约定书，并欠付 2023年度审计费用，亚泰国际将不再与公司洽谈2024年年审合作事宜。鉴于上述原因，公司无法在法定 期限（2025年4月30日）内完成审计工作，无法按时披露2024年年度报告及2025年第一季度报告。 值得一提的是，紫天科技早在今年3月17日就已经停牌。 据了解，2024年9月6日，因涉嫌信息披露违法违规，根据相关法律法规，紫天科技被中国证监会立案调 查，相关案件正在调查中。 2024年10月25日，因涉嫌拒绝阻碍执法，中国证监会依法 ...

证券时报网讯，据国家统计局，2024年，全国房地产开发投资100280亿元，比上年下降10.6%（按可比 口径计算）；其中，住宅投资76040亿元，下降10.5%。 2024年，房地产开发企业房屋施工面积733247万平方米，比上年下降12.7%。 其中，住宅施工面积513330万平方米，下降13.1%。 房屋新开工面积73893万平方米，下降23.0%。 其中，住宅新开工面积53660万平方米，下降23.0%。 房屋竣工面积73743万平方米，下降27.7%。 其中，住宅竣工面积53741万平方米，下降27.4%。 校对：吕久彪 ...

Financial Performance - Total revenue for the period reached HKD 387.3 million, an increase of 6.4% from HKD 363.9 million in the same period last year[9]. - Net profit attributable to shareholders decreased to HKD 37.0 million, down 15.3% from HKD 43.7 million in the previous year[9][14]. - Retail business revenue increased by 7.0% to HKD 387.2 million, driven by a mid-single-digit growth in jewelry sales despite challenging economic conditions[10]. - Gross profit margin improved from 30.4% to 31.9%, resulting in a gross profit increase of HKD 12.8 million[13]. - Same-store sales growth reached 8.6% during the period, supported by a loyal customer base and strong supplier relationships[10]. - Operating profit decreased to HKD 36,926 thousand from HKD 45,383 thousand, indicating a decline of 18.5% year-over-year[55]. - Profit before tax was HKD 34,644 thousand, down from HKD 43,737 thousand, representing a decrease of 20.8%[55]. - Net profit for the period was HKD 37,044 thousand, compared to HKD 43,737 thousand in the previous year, a decline of 15.4%[55]. - Total comprehensive income for the period was HKD 39,761 thousand, slightly lower than HKD 43,689 thousand from the same period last year[55]. Market Outlook - The geopolitical tensions and high gold prices are expected to continue affecting consumer sentiment in the short term[16]. - The company anticipates a gradual recovery in the luxury goods market in the medium to long term due to recent government measures aimed at stabilizing the economy[16]. Investment and Development - The company plans to continue investing in the design and production of daily wear gold products and unique jewelry to meet customer preferences[16][17]. - Continued investment in employee development, brand building, digital marketing, and creative product design is planned to better serve existing and potential customers[20]. - The introduction of the "Gold for Diamonds" product line has been successful and will be expanded across all stores[17]. Financial Position - As of September 30, 2024, the group's current assets and current liabilities were approximately HKD 861.1 million and HKD 170.1 million, respectively[21]. - The total borrowings of the group were approximately HKD 68.5 million, resulting in a healthy debt-to-equity ratio of 8.9%[21]. - Total assets as of September 30, 2024, amounted to HKD 957,956 thousand, a slight increase from HKD 917,316 thousand as of March 31, 2024[58]. - Current liabilities increased to HKD 170,117 thousand from HKD 147,758 thousand, indicating a rise of 15.1%[58]. - Equity attributable to owners of the company was HKD 771,339 thousand, up from HKD 755,220 thousand, reflecting a growth of 2.1%[58]. Cash Flow and Investments - The company's cash and cash equivalents at the end of the period were HKD 192,925,000, a decrease from HKD 353,914,000 at the end of the previous period, reflecting a reduction of approximately 45.5%[64]. - Operating cash flow before changes in working capital was HKD 60,577,000, compared to HKD 62,407,000 in the prior year, showing a slight decrease of about 2.9%[64]. - The company experienced a net cash outflow from investing activities of HKD 63,832,000, compared to HKD 58,020,000 in the previous year, indicating an increase in cash outflow of approximately 10.5%[64]. - The company reported a foreign exchange gain of HKD 143,000 from the translation of overseas operations for the period[61]. - The company’s investment income recognized at fair value through other comprehensive income amounted to HKD 1,570,000 for the period[61]. Employee and Management - The group employed approximately 139 employees as of September 30, 2024, with a performance-based bonus reward program in place[27]. - Employee benefits expenses for the six months ended September 30, 2024, amounted to HKD 37,588,000, a slight decrease from HKD 38,013,000 in the same period of 2023, reflecting a 1.1% decline[106]. - The total salary, allowances, and benefits for key management personnel reached HKD 8,350,000 for the six months ended September 30, 2024, an increase from HKD 8,033,000 in the same period last year[162]. Dividends and Share Capital - The company has not established a dividend policy or predetermined dividend rate, with future dividends to be considered based on various factors[41]. - The company declared an interim dividend of 0.4 HKD per share for the 2024/25 fiscal year, consistent with the previous year's interim dividend[98]. - The total issued share capital remained unchanged at HKD 393,354,000 with 909,308,465 shares as of both September 30, 2024, and March 31, 2024[142]. Accounting and Compliance - The company anticipates that the adoption of new accounting standards will not have a significant impact on its financial performance or position[73]. - The group expects to adopt all relevant accounting standards upon their effective dates, ensuring compliance with regulatory requirements[75]. - The company's auditor provided an unqualified opinion on the financial statements for the year ending March 31, 2024[44].

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 387,301 thousand, an increase of 6.4% compared to HKD 363,913 thousand for the same period in 2023[2] - Gross profit for the same period was HKD 123,546 thousand, representing a gross margin of 31.9%, up from HKD 110,721 thousand in 2023[2] - Operating profit decreased to HKD 36,926 thousand, down 18.5% from HKD 45,383 thousand in the previous year[2] - Profit before tax was HKD 34,644 thousand, a decline of 20.8% compared to HKD 43,737 thousand in the prior period[2] - The net profit for the period was HKD 37,044 thousand, down from HKD 43,737 thousand, reflecting a decrease of 15.4%[2] - Total comprehensive income for the period was HKD 39,761 thousand, slightly lower than HKD 43,689 thousand in the previous year[4] - Basic and diluted earnings per share were HKD 4.07, down from HKD 4.81 in the same period last year[4] - The company reported total revenue of HKD 387.3 million for the six months ended September 30, 2024, an increase of HKD 23.4 million or 6.4% compared to HKD 363.9 million for the same period last year[43] - The unaudited consolidated profit attributable to the company's owners for the period was HKD 37.0 million, down from HKD 43.7 million in the same period last year[43] Revenue Breakdown - Revenue from gold jewelry, jewelry, watches, and gift retail was HKD 341,151,000, while bullion trading and diamond wholesale generated HKD 46,039,000 and HKD 111,000 respectively for the six months ended September 30, 2024[20] - Retail business revenue increased by HKD 25.2 million or 7.0% to HKD 387.2 million, despite a challenging economic environment in Hong Kong and mainland China[44] - Same-store sales growth reached 8.6% during the period, supported by loyal customer base and partnerships with high-end watch suppliers[44] Costs and Expenses - The cost of sales for the six months ended September 30, 2024, was HKD 263,183,000, compared to HKD 252,436,000 for the same period in 2023, indicating an increase of about 4.0%[26] - Net profit decreased by HKD 6.7 million or 15.3%, primarily due to unrealized non-cash losses on gold lending of HKD 10.4 million[46] Assets and Equity - The company's total assets as of September 30, 2024, were HKD 957,956 thousand, compared to HKD 917,316 thousand as of March 31, 2024[6] - Current assets amounted to HKD 861,108 thousand, a slight decrease from HKD 863,965 thousand in the previous period[6] - The company's equity attributable to owners was HKD 771,339 thousand, an increase from HKD 755,220 thousand as of March 31, 2024[7] Dividends - The company declared a final dividend of HKD 2.6 per ordinary share for the fiscal year 2023/24, compared to HKD 2.0 per share for the previous year, representing a 30% increase[28] - The interim dividend declared for the six months ended September 30, 2024, is HKD 0.004 per ordinary share, unchanged from the previous year[40] - The company will suspend the registration of share transfers on December 9, 2024, for shareholders to receive the interim dividend[42] Accounting and Reporting - The company has identified a single reporting segment, which is retail, bullion trading, and diamond wholesale, with over 90% of revenue generated from operations in Hong Kong[17] - The company expects that the application of new accounting standards will not have a significant impact on its financial performance and position[14] - The company is currently assessing the impact of the new accounting standards and amendments that will come into effect starting January 1, 2026[14] - No single customer accounted for 10% or more of the total revenue for the six months ended September 30, 2024[18] Investments and Future Outlook - The company plans to continue investing in product design and production of gold jewelry to meet customer demand and preferences[48] - The introduction of the "Gold for Diamonds" product line is aimed at expanding the customer base following the relocation of the store in Harbour City[48] - The company anticipates that geopolitical tensions and high gold prices will continue to affect consumer sentiment in the short term[47] - The company expects a gradual recovery in the luxury goods market in the medium to long term due to recent government policies aimed at stabilizing the real estate and capital markets in mainland China[47] - The company will continue to invest in employee development, brand building, digital marketing, and creative product design[48] Share Transactions - The company did not repurchase or cancel any ordinary shares during the six months ended September 30, 2024[30] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the six months ending September 30, 2024[49] Lease and Assets - The right-of-use assets recognized for the period amounted to HKD 10,407,000 and HKD 16,624,000 for additions and lease adjustments, respectively[33] - The impairment loss provision for right-of-use assets was HKD 2,124,000 for the period, compared to HKD 3,271,000 for the same period last year[33] - The lease liabilities at the end of the reporting period were HKD 49,252,000, with future interest expenses totaling HKD 3,213,000[36] - Trade receivables as of September 30, 2024, totaled HKD 5,346,000, compared to HKD 8,047,000 as of March 31, 2024[40]