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3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: 富陽(中國)控股有限公司 呈交日期: 2026年4月1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) | 00352 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | 本月底法定/註冊 ...

Financial Performance - For the fiscal year ending December 31, 2025, the company reported total revenue of RMB 20,437,000, a significant increase from RMB 1,350,000 in 2024, representing a growth of approximately 1410%[2] - The cost of services provided for 2025 was RMB 3,481,000, compared to RMB 1,829,000 in 2024, resulting in a gross profit of RMB 16,956,000, up from a gross loss of RMB 479,000 in the previous year[2] - The company achieved a profit before tax of RMB 11,837,000 in 2025, a turnaround from a loss of RMB 7,596,000 in 2024[2] - Earnings per share for 2025 were RMB 4.81, compared to a loss per share of RMB 3.09 in 2024, indicating a positive shift in profitability[2] - The company reported a comprehensive income of RMB 11,659,000 for 2025, compared to a comprehensive loss of RMB 7,532,000 in 2024, showcasing a significant recovery[3] Assets and Liabilities - Total assets as of December 31, 2025, were RMB 30,455,000, an increase from RMB 15,598,000 in 2024, reflecting a growth of approximately 95%[4] - The company's net asset value rose to RMB 15,364,000 in 2025, compared to RMB 3,705,000 in 2024, marking an increase of about 314%[5] - Current liabilities increased to RMB 7,403,000 in 2025 from RMB 4,434,000 in 2024, indicating a rise of approximately 67%[4] - The group's net current assets as of December 31, 2025, were approximately RMB 23,052,000, up from RMB 11,164,000 in 2024, with total assets of approximately RMB 41,685,000[40] Revenue Sources - Revenue from real estate-related business reached approximately RMB 20,437,000 for the year ending December 31, 2025, a significant increase from RMB 1,350,000 in 2024, with RMB 20,000,000 coming from the Foshan project[37] - Revenue from customer contracts under HKFRS 15 included RMB 437 thousand recognized at a point in time and RMB 20,000 thousand recognized over time, compared to RMB 623 thousand and RMB 727 thousand respectively in the previous year[16] - Investment income and other income totaled RMB 624 thousand, up from RMB 281 thousand in the previous year, representing a growth of approximately 122%[17] - The total rental income from investment properties was RMB 166 thousand, a decrease from RMB 396 thousand in the previous year, indicating a decline of approximately 58%[17] Market and Strategy - The company is primarily engaged in real estate-related services in the Chinese market, including development, planning, consulting, and sales agency services[7] - The group has transformed its strategy from a red ocean model focused on competition to a blue ocean strategy centered on value innovation, aiming to create new demand in uncontested market spaces[35] - The Chinese real estate market is showing early signs of recovery in 2025, driven by economic growth, urbanization, and rising living standards, despite challenges such as regulatory tightening and purchasing power pressure[39] - The group is cautiously optimistic about the market recovery and is focusing on three key trends: monitoring the recovery of the Chinese real estate market, pursuing value innovation, and adapting sales strategies for developers[43] Employee and Operational Metrics - The employee count has expanded to 30, covering management, business development, research, sales, and logistics, with targeted hiring in sales and consulting roles[36] - The group recorded employee costs of approximately RMB 5,271,000 for the year ending December 31, 2025, an increase from RMB 3,697,000 in 2024[50] - The average credit period granted to customers is 90 days, with accounts receivable amounting to RMB 24,357,000 as of December 31, 2025, compared to RMB 6,460,000 in the previous year[29] Compliance and Governance - The group has implemented measures to ensure compliance with listing rules regarding major transactions, particularly concerning the purchase of financial products[59] - The board of directors confirmed compliance with the standard code for securities trading as of December 31, 2025[61] - The audit committee has reviewed the annual financial statements for the year ending December 31, 2025, ensuring compliance with applicable standards[68] - The independent auditor confirmed that the financial figures for the year ending December 31, 2025, are consistent with the audited consolidated financial statements[69] Future Outlook and Plans - The group anticipates that the new accounting standards will not have a significant impact on its financial performance and position, although it may affect the structure and presentation of the income statement[13] - The group plans to apply the newly issued accounting standards upon their effective date, with no early adoption of standards that have been announced but are not yet effective[10] - The group has no major investment or capital asset plans for the future as of the announcement date[48] Shareholder Information - The company did not declare or recommend any dividends for the year ending December 31, 2025, consistent with the previous year[25] - Trading of the company's shares on the Hong Kong Stock Exchange was suspended as of September 9, 2025, and will remain suspended until compliance with the resumption guidelines[62] - The company has submitted a resumption proposal to the Stock Exchange, detailing its latest business operations and financial performance to demonstrate compliance with listing rules[65] - The company's annual general meeting is scheduled for June 26, 2026[71]

1. Report Industry Investment Rating - Copper: Cautiously bullish [7] - Arbitrage: On hold [7] - Options: Sell put options [7] 2. Core View of the Report - Overall, domestic copper inventories have increased since last week due to high copper prices and spreads, leading to cautious downstream purchasing. Meanwhile, the TC of the mining end has continued to decline to -$60/ton, intensifying the raw material shortage. The refined copper import window has opened, leading to a reduction in bonded area inventories; the narrowing price difference between scrap copper and refined copper has suppressed its economic viability, but the demand for taxed raw materials has increased; the operating rates of copper processing sectors have generally rebounded, with a significant increase in orders for refined copper rods, and improvements in the prosperity of enameled wires and brass rods; terminal orders in the power and new energy sectors are strongly supportive, while the construction sector remains weak. As downstream enterprises resume work and copper prices fluctuate and decline, purchasing enthusiasm may recover. Therefore, it is still recommended to conduct buy-hedging on dips between RMB 99,200/ton and RMB 101,000/ton. If the price falls below RMB 99,200/ton, the hedging intensity can be increased [7] 3. Summary by Relevant Catalogs 3.1 Market News and Important Data 3.1.1 Futures Quotes - On March 17, 2026, the opening price of the main SHFE copper contract was RMB 100,020/ton, and the closing price was RMB 99,340/ton, a -0.38% decrease from the previous trading day's closing. The opening price of the main SHFE copper contract in the night session was RMB 99,120/ton, and the closing price was RMB 99,140/ton, a 0.20% decrease from the afternoon closing [1] 3.1.2 Spot Situation - According to SMM, the SHFE copper 2604 contract rose and then fell in the early trading yesterday, closing at RMB 100,130/ton. Spot market trading was light, downstream purchasing was cautious, and the transaction volume remained poor even after holders slightly lowered their quotes. The premium/discount was weaker than yesterday. The narrowing of the inter-month spread suppressed the willingness to deliver to the warehouse, and high inventories exerted pressure. The import window was slightly opened, increasing the expectation of subsequent inflows of overseas supplies. It is expected that the premium/discount will continue to be under pressure in the short term [2] 3.2 Important Information Summary - Geopolitically, Iran's new Supreme Leader, Mojtaba Khamenei, rejected the mediation proposal, and Iranian Foreign Minister Hossein Amir-Abdollahian denied any new contact with US Presidential Envoy Witkoff. Israeli Defense Forces spokesman Efi Devlin said that the Israeli army would "hunt down" Iran's new Supreme Leader, Mojtaba Khamenei. In addition, Iranian President Pezeshkian issued an official statement mourning the death of the Secretary of the National Supreme Security Council and former Speaker Ali Larijani in a recent terrorist attack. The Islamic Revolutionary Guard Corps of Iran confirmed the death of Basij militia leader Qolamreza Soleimani. Reports said that Iran had designated multiple replacement candidates for key national positions. Overall, the geopolitical situation has not improved, and the market is still in a narrative of tightening liquidity [3] 3.3 Mining End - Botswana Minerals, a mineral exploration and project development company, announced its exploration progress for the six months ending December 31, 2025. During this period, it obtained eight copper-focused exploration licenses in northwestern Botswana, covering an area of approximately 7,000 square kilometers. These licenses were obtained through the company's use of artificial intelligence (AI) to analyze one of Botswana's largest private exploration databases, which is a direct implementation of the AI plan proposed in its 2025 annual report. The relevant details were further explained in the company's report in January this year. Botswana said that the granting of these eight copper exploration licenses was the first concrete result of its broader strategic adjustment, with a license validity period until December 31, 2028, giving it a considerable scale in this increasingly active copper-producing area. Currently, the company has begun planning close-range geophysical and geochemical surveys to optimize AI-generated targets into drillable exploration points. At the same time, the company is in talks with potential joint venture (JV) partners, reflecting the growing interest in copper and energy transition metals in stable African jurisdictions [4] - Anglo-Australian mining giant Rio Tinto announced on Monday that it had obtained the control rights for the Resolution copper mine in Arizona. The project is expected to become one of the largest key mineral (copper) supply sources in the United States but has been opposed by Native Americans for more than 20 years. The acquisition of the control rights marks the likely end of a long and complex legal battle. As a core condition for obtaining the control rights of the mining area, Rio Tinto transferred 5,400 acres (approximately 8.4 square miles) of land in Arizona to the US Forest Service in exchange for the use rights of a 2,400-acre mining area. The mining area contains more than 40 billion pounds (approximately 18.1 million tons) of copper. The Resolution copper mine is one of the largest undeveloped copper mine projects in the world, with an estimated copper resource of 1.97 billion tons and an average grade of 1.54%. As of now, the San Carlos Apache Tribe and its lawyers have not responded to this matter [4] 3.4 Smelting and Import - On March 13, the Australian Workers' Union (AWU) said that workers at Glencore's Townsville copper refinery in North Queensland went on strike after nearly a year of negotiations failed to resolve the dispute over wage increases and working conditions. Union members stopped work at the refinery for four hours and then resumed operations. AWU Northern Secretary Jim Wilson said, "If Glencore has no intention of improving its offer, the strike action will continue." He added that the union currently does not plan to take further actions. In response to the strike, Glencore reiterated in an email reply to Reuters that the company remains committed to reaching an agreement with its employees. At the same time, Glencore said that the AWU's political showmanship may damage the constructive cooperative relationship previously established with the negotiators. The refinery has an annual production capacity of up to 300,000 tons of 99.995% pure copper cathodes [5] 3.5 Consumption - On March 16, the General Office of the Anhui Provincial People's Government issued a notice and printed the "List of Key Projects in Anhui Province in 2026," totaling 1,806 projects, including 488 Class A projects and 1,318 Class B projects. Among them, there are four copper-related projects, specifically: the New Tai 500,000-ton copper-based new materials project in Dangtu County; the Guangde Hengtong 60,000-ton new energy copper-based new materials project; the Tongling Nonferrous Green and Intelligent Copper-based New Materials project; and the Ningguo JINGANGUOJI 4 million-square-meter high-grade copper-clad laminate project [5] 3.6 Inventory and Warehouse Receipts - The LME warehouse receipts decreased by 225 tons to 330,375 tons compared with the previous trading day. The SHFE warehouse receipts increased by 1,291 tons to 324,289 tons compared with the previous trading day. On March 16, the domestic electrolytic copper spot inventory was 547,300 tons, a decrease of 26,600 tons compared with the previous week [6]

董事會 會議通告 富陽（中國）控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈將於二零 二六年三月三十一日（星期二）召開董事會會議，藉以（其中包括）考慮及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經審核綜合財務報表，批准相關業績公告刊發於香港聯 合交易所有限公司及本公司網站，以及考慮建議派付末期股息（如有）。 承董事會命 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。 Fortune Sun (China) Holdings Limited 富陽(中國)控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：00352） 富陽（中國）控股有限公司 主席 江陳鋒 香港，二零二六年三月十六日 於本公告日期，執行董事為江陳鋒先生、張秀華女士及王佳女士；非執行董事為林倩如女士；而獨 立非執行董事為崔士威先生、林俊才先生及鄒耀明先生。 ...

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。 Fortune Sun (China) Holdings Limited 富 陽 (中 國 )控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：00352） 有關復牌進度的季度最新消息及 繼續暫停買賣 誠如復牌指引公告所披露，於二零二五年九月十二日，本公司接獲聯交所發出的以下對本公司 施加之復牌指引： 本公告乃由富陽（中國）控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香 港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第 13.09 條以及香港法例第 571 章《證券及期貨條例》第 XIVA 部項下的內幕消息條文（定義見上市規則）而作出。 茲提述本公司(i)日期為二零二五年九月九日之公告，內容有關（其中包括）上市委員會決定維 持上市科所作出之聯交所決定，暫停本公司股份（「股份」）在聯交所買賣；(ii)日期為二零二 五年九月十七日之公告，內容有關聯交所函件 ...

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: 富陽(中國)控股有限公司 呈交日期: 2026年3月3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) | 00352 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 | HKD | | 200,000,000 | 本月底法定/註冊 ...

Core Insights - The Fuyang District is implementing a comprehensive plan to enhance its economic performance and governance through the "First-Class State" and "First-Class Performance" initiatives, focusing on 232 key tasks to ensure the successful execution of provincial and municipal directives [1] Group 1: First-Class State Initiative - The "First-Class State" initiative includes six special actions aimed at improving the capabilities of officials, such as fostering a correct view of performance, enhancing strategic vision, and promoting innovation and problem-solving skills [1] - The initiative emphasizes the importance of teamwork and cultural empowerment to support high-quality completion of annual objectives [1] Group 2: First-Class Performance Initiative - The "First-Class Performance" initiative focuses on eight special actions related to economic indicators, innovation, industrial clusters, investment attraction, urban-rural quality, project advancement, resource assurance, and service improvement [1] - The goal is to achieve breakthroughs in these areas to elevate the overall performance of the district [1] Group 3: Innovation and R&D Goals - Fuyang aims to achieve an R&D expenditure ratio of over 3.6% this year, maintaining its position among the top tier of technological innovation in the province [2] - The district plans to establish over 50 new enterprise R&D centers and incubate at least 20 technology enterprise incubators within two years [2] Group 4: Industrial Cluster Development - The "296X" industrial cluster is expected to grow by over 10% this year, while the "25X" industry scale is projected to increase by 15%, reaching 70 billion [2] - The service sector will focus on building two major platforms: a national specialty product sales center and a copper industry trade service center [2] Group 5: Urban and Rural Quality Enhancement - Key projects include accelerating major transportation infrastructure developments and urban renewal initiatives, with specific projects set to be completed by significant deadlines [2] - The district aims to cultivate local specialty industries, targeting a total output value exceeding 4 billion for specialty products [2]

Group 1 - The company reported a net profit of $10 billion for the year, which is below the estimated $10.7 billion [1]

Group 1 - The company reported a net profit of $10 billion for the year, which is below the forecast of $10.7 billion [1] - The company's underlying earnings reached $10.87 billion, slightly above the expected $10.81 billion [1] - Production and sales guidance for 2026, along with capital investment guidance, aligns with the information released at the capital markets day [1]

Core Viewpoint - The cultural event "Our Village Evening" held in Anding Village serves as a vibrant example of cultural empowerment for rural revitalization, aligning with the cultural goals of the Fuyang "15th Five-Year Plan" [1] Group 1: Cultural Activities - The event featured various artistic performances including technology shows, Sichuan opera face-changing, magic, Shaoxing opera segments, and traditional music, showcasing high-quality cultural resources to local residents [1] - The event was structured into three main chapters: "Spring Returns to the Clouds," "Vibrant Mountain Village," and "Ancient Charm and New Dreams," with villagers as the main performers [3] Group 2: Community Engagement - The event included interactive activities such as handmade snacks, games, and traditional crafts, enhancing community participation and festive atmosphere [3] - Cultural workers like Cai Xiaying are actively involved in integrating cultural initiatives with local industries, exemplified by the upcoming short drama "Cloudy Tea Village," which aims to promote local tourism through cultural storytelling [2]