PALADIN LIMITED （於百慕達註冊成立之有限公司） 寓 乃PALADIN LIMITED（「本 公 司」）普 通 股（「股 份」） 股2 之登記持有人，茲委任3 ， 寓 或大會主席為本人╱吾等之代表，代表本人╱吾等出席本公司謹訂於二零二五年十二月四日上午十一時正 假 座 香 港 屯 門 青 山 公 路（青 山 灣 段）1號 香 港 黃 金 海 岸 酒 店 大 堂 樓 層 碧 濤 廳（E室）舉 行 之 二 零 二 五 年 度 股 東 週 年 大 會（或 其 任 何 續 會），以 考 慮 及 酌 情 通 過 召 開 上 述 大 會 之 通 告 所 載 列 之 決 議 案，並 在 該 大 會（或 其 任 何 續 會）上 以 本 人╱吾 等 名 義 按 以 下 指 示4代表本人╱吾等投票，倘並無作出該等指示，則本人╱吾等之委任代表 可酌情投票。 簽 署5 （股份代號：495） 二零二五年度股東週年大會適用之代表委任表格 本人╱吾等1 ， | | | 贊 成4 | 反 對4 | | --- | --- | --- | --- | | 1. | 省覽及考慮截至二零二五年六月三十日止年度之財務報表及董事會 與核 ...

此乃要件 請即處理 閣下如 對本通函之任何部分或應採取之行動 有任何疑問，應諮詢股票經紀或其他註冊證券 交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已悉數售出或轉讓名下PALADIN LIMITED股份，應立即將本通函交予買家或承讓人， 或經手買賣之銀行、股票經紀或其他代理商，以便轉交買家或承讓人。 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通函的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本通函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。 PALADIN LIMITED （股份代號：495） （於百慕達註冊成立之有限公司） 購回及發行證券之一般授權、 重選退任董事 及 股東週年大會通告 召 開 股 東 週 年 大 會（定 義 見 本 通 函）之 通 告 載 於 本 通 函 之 第12頁至第16頁。本公司股份持有 人（定 義 見 本 通 函）不 論 能 否 出 席 股 東 週 年 大 會，務 請 按 照 隨 附 之 代 表 委 任 表 格 所 印 指 示 將其填妥，並盡快惟無論如何於股東週年大會指定舉行時間前不少於48小時交回Pa ...

Financial Performance - The group recorded a loss of approximately HKD 145 million for the year ending June 30, 2025, compared to a loss of approximately HKD 133 million in the same period of 2024, primarily due to a decrease in the fair value of investment properties by approximately HKD 111 million and impairment charges of HKD 16 million on leased land and buildings[6]. - The group's revenue for the year ending June 30, 2025, including rental income from investment properties, was approximately HKD 9 million, unchanged from 2024[7]. - Total sales for the year ending June 30, 2025, amounted to approximately HKD 32 million[11]. - Revenue for the year ended June 30, 2025, was HKD 43,805,000, an increase of 92.7% compared to HKD 22,733,000 in 2024[180]. - Gross profit for the same period was HKD 23,371,000, up 72.1% from HKD 13,591,000 in 2024[180]. - Operating loss increased to HKD 139,068,000 in 2025 from HKD 127,453,000 in 2024, reflecting a 9.3% increase in losses[180]. - Total comprehensive loss for the year was HKD 148,372,000, compared to HKD 135,867,000 in 2024, representing an increase of 9.5%[183]. - The company reported a basic loss per share of HKD 9.38 for 2025, compared to HKD 9.29 in 2024[180]. - The group reported a loss of approximately HKD 145,279,000 for the year ending June 30, 2025, with a net current liability of about HKD 108,746,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[188]. Investment and Technology Development - The company is actively developing next-generation technology applications, including imaging, monitoring, navigation, and advanced semiconductor processing, with significant investments reflecting a focus on sustainable development[9]. - The company anticipates further investment in technology products and systems, aiming for these to become a significant source of revenue by the end of the decade[9]. - Dynim Oy is collaborating with sister companies to develop the RTK VINS series, accelerating the commercialization of advanced platforms that provide positioning, sensing, and connectivity functions[15]. - Pexray Oy has launched various enhancements to its portable digital X-ray inspection equipment, focusing on industrial and security applications, with sales of new battery-powered portable X-ray sources contributing to growth[10]. - Navigs Oy is at the forefront of developing advanced GNSS and imaging positioning solutions, with applications extending beyond agriculture to construction and maritime sectors[13]. Corporate Governance - The board of directors consists of one executive director, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of expertise in management, property market, electronics, accounting, finance, and corporate development[41]. - The company has adopted a board diversity policy to ensure an appropriate balance of skills, experience, and diversity among board members, with ongoing efforts to appoint suitable female directors[42]. - The chairman and CEO roles are separated, with Dr. Wong serving as both chairman and acting CEO, a structure deemed effective for leadership and business execution[44]. - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange regulations, with some deviations disclosed[38]. - The company is committed to continuous improvement of its corporate governance practices through regular reviews[39]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the period from July 1, 2024, to June 30, 2025, assessing related risks and ensuring effective management and internal control systems[72]. - The report includes a quantitative approach to disclose key performance indicators to evaluate the effectiveness of ESG policies and actions[74]. - The total greenhouse gas emissions for the reporting period were 132 tons, a decrease from 149 tons in the previous year, with emissions per employee at 3.07 tons[85]. - The company has implemented energy-saving measures to reduce emissions, focusing on minimizing energy usage[88]. - The company has established an environmental policy addressing significant environmental issues, complying with relevant environmental laws and regulations[80]. Employee and Labor Practices - The total number of employees is 43, with a gender breakdown of 35 males and 8 females, and an employee turnover rate of 16% for males and 0% for females[99]. - During the reporting period, the average training hours per employee were 1.53 hours for males and 0.20 hours for females, with 20% of senior management and 16% of general staff receiving training[104]. - The group promotes a diverse and inclusive work environment, prohibiting discrimination based on age, religion, gender, pregnancy, marital status, disability, family status, and ethnicity[96]. - The group has established emergency measures for extreme weather events, including typhoons and heavy rain, to protect employee safety[95]. - The group adheres to local labor laws, strictly prohibiting child labor and forced labor in its operations[105]. Financial Position and Liabilities - The group reported a net current liability of approximately HKD 109 million and a current ratio of 0.22 as of June 30, 2025[26]. - The group's capital debt ratio is approximately 28% as of June 30, 2025[27]. - The company has no distributable reserves available for shareholders as of June 30, 2025[130]. - The group has unutilized bank financing of approximately HKD 65,000,000 as of June 30, 2025[191]. - The group incurred net cash outflows from financing activities of HKD 10,841,000 for the year, compared to inflows of HKD 14,071,000 in the previous year[185]. Audit and Compliance - The audit committee consists of one non-executive director and three independent non-executive directors, who regularly meet with senior management to review the effectiveness of internal control systems[156]. - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[174]. - The audit process involves identifying and assessing risks of material misstatement and designing audit procedures to address those risks[175]. - The auditors communicate with the audit committee regarding the planned audit scope, timing, and significant audit findings[177]. - The company is responsible for preparing true and fair consolidated financial statements in accordance with the Hong Kong Financial Reporting Standards and the Companies Ordinance[172].

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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: PALADIN LIMITED 呈交日期: 2025年10月2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) | 00495 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | ...

Core Insights - PALADIN (00495) reported revenue of HKD 43.805 million for the year ending June 30, 2025, representing a year-on-year increase of 92.69% [1] - The company recorded a loss attributable to shareholders of HKD 145 million, which is an increase of 11.54% compared to the previous year [1] - The basic loss per share was HKD 0.0938 [1]

[Performance Summary](index=1&type=section&id=Performance%20Summary) This section provides an overview of the Group's financial performance and position, highlighting key figures from the consolidated statements of profit or loss and financial position [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group recorded a loss of **145,279 thousand HKD** for the year ended June 30, 2025, an increase from **133,409 thousand HKD** in 2024, driven by a **92.7%** revenue growth but exacerbated by fair value losses on investment properties and increased operating expenses | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 43,805 | 22,733 | 92.7% | | Cost of sales and services | (20,434) | (9,142) | 123.5% | | Gross profit | 23,371 | 13,591 | 72.0% | | Other gains and losses | (122,506) | (96,558) | 26.9% | | Operating loss | (139,068) | (127,453) | 9.1% | | Loss for the year | (145,279) | (133,409) | 8.9% | | Basic loss per share (HK cents) | (9.38) | (9.29) | 1.0% | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets less current liabilities were **417,945 thousand HKD**, a **25.9%** decrease from 2024, reflecting a significant reduction in investment properties within non-current assets and an expanded net current liabilities, indicating financial pressure | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Total non-current assets | 526,691 | 658,992 | -20.1% | | Total current assets | 29,805 | 46,476 | -35.9% | | Total current liabilities | 138,551 | 141,354 | -2.0% | | Net current liabilities | (108,746) | (94,878) | 14.6% | | Net assets | 398,861 | 543,409 | -26.6% | | Total equity | 398,861 | 543,409 | -26.6% | [Notes to the Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes to the consolidated financial statements, covering accounting policies, significant judgments, and breakdowns of key financial figures [Basis of Preparation and Going Concern](index=5&type=section&id=1.%20编制基準及持续经营) The consolidated financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, despite the Group facing significant going concern uncertainties due to a **145,279 thousand HKD** loss and **108,746 thousand HKD** net current liabilities in FY2025, which the Board believes are mitigated by various measures [Basis of Preparation](index=5&type=section&id=1.%20編製基準) The consolidated financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards issued by the HKICPA and comply with the disclosure requirements of the Listing Rules and the Companies Ordinance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards (including HKFRSs, HKASs, and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants[7](index=7&type=chunk) - The statements also comply with the disclosure requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Companies Ordinance (Cap. 622)[7](index=7&type=chunk) [Material Uncertainty Related to Going Concern and Mitigating Factors](index=5&type=section&id=Material%20Uncertainty%20Related%20to%20Going%20Concern%20and%20Mitigating%20Factors) The Group faces significant going concern uncertainties due to a **145,279 thousand HKD** loss and **108,746 thousand HKD** net current liabilities in FY2025, which the Board has assessed and addressed with mitigating measures including shareholder support, undrawn bank facilities, and cost control strategies - As of June 30, 2025, the Group incurred a loss of approximately **145,279 thousand HKD** and had net current liabilities of approximately **108,746 thousand HKD**, constituting a material uncertainty related to going concern[8](index=8&type=chunk) - The Board has prepared cash flow forecasts for the 18 months ending December 31, 2026, and believes the Group has sufficient working capital to meet current requirements[8](index=8&type=chunk) - Mitigating factors include scheduled repayment of secured bank loans, Gold Seal Holdings Limited's agreement not to demand repayment of approximately **11,687 thousand HKD** owed by the Group, **65,000 thousand HKD** in undrawn bank facilities, and strategies to enhance revenue and control costs[10](index=10&type=chunk) [Adoption of New and Revised Hong Kong Financial Reporting Standards](index=6&type=section&id=2.%20采纳新订及经修訂香港財務報告準則會計準則) The Group has adopted several HKFRS amendments effective July 1, 2024, with no material impact on prior or current periods, while the Board is evaluating the potential significant effects of HKFRS 18 on financial statement presentation and disclosure, which is issued but not yet effective - The Group has initially applied amendments to HKAS 1, HK(IFRIC)-Int 5, and HKAS 7 & HKFRS 7, which had no material impact on prior or current periods[11](index=11&type=chunk) - HKFRS 18 (Presentation and Disclosure in Financial Statements), effective January 1, 2027, is expected to introduce significant changes to financial statement presentation, including profit or loss structure, disclosure of management-defined performance measures, and aggregation and disaggregation requirements[12](index=12&type=chunk)[13](index=13&type=chunk) [Standards Applied](index=6&type=section&id=2.(a)%20應用新訂及經修訂香港財務報告準則會計準則) The Group has adopted several HKFRS amendments effective July 1, 2024, including those on liability classification, non-current liabilities with covenants, classification of term loans with demand clauses, and supplier finance arrangements, none of which had a material impact on amounts recognized in prior periods - The Group has initially applied amendments to HKAS 1 regarding the classification of liabilities and non-current liabilities with covenants[11](index=11&type=chunk) - Amendments to HK(IFRIC)-Int 5 concerning the classification by a borrower of a term loan with a repayment on demand clause, and HKAS 7 & HKFRS 7 regarding supplier finance arrangements, have also been applied[11](index=11&type=chunk) - These amendments and interpretations had no material impact on amounts recognized in prior periods and are not expected to have a significant impact on the current or future periods[11](index=11&type=chunk) [Standards Issued But Not Yet Effective](index=6&type=section&id=2.(b)%20已頒佈但尚未生效之經修訂香港財務報告準則會計準則) The HKICPA has issued several new standards and amendments not yet effective, notably HKFRS 18 (Presentation and Disclosure in Financial Statements), which is expected to significantly alter financial statement presentation, including profit or loss structure, disclosure of management-defined performance measures, and aggregation and disaggregation requirements, with the Board currently assessing its impact - HKFRS 18 (Presentation and Disclosure in Financial Statements), effective January 1, 2027, will replace HKAS 1[12](index=12&type=chunk)[13](index=13&type=chunk) - This standard will introduce significant changes, focusing on financial performance information presented in the statement of profit or loss, thereby impacting the presentation and disclosure of financial statements[13](index=13&type=chunk) - Key changes involve the structure of the statement of profit or loss, required disclosures for management-defined performance measures, and enhanced requirements for aggregation and disaggregation of information[13](index=13&type=chunk) [Revenue](index=7&type=section&id=3.%20收%20益) Total revenue for FY2025 was **43,805 thousand HKD**, a **92.7%** increase from **22,733 thousand HKD** in 2024, primarily driven by a significant rise in goods sales, while rental income remained stable | Revenue Source | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Sale of goods | 34,794 | 13,525 | 157.2% | | Autonomous mobile robot solutions and related services | 330 | 527 | -37.4% | | Rental income | 8,681 | 8,681 | 0.0% | | **Total Revenue** | **43,805** | **22,733** | **92.7%** | - Revenue recognized at a point in time from the transfer of products was **34,794 thousand HKD** (2024: **13,525 thousand HKD**), while revenue from services transferred over time was **330 thousand HKD** (2024: **527 thousand HKD**)[15](index=15&type=chunk) [Segment Information](index=7&type=section&id=4.%20分部資料) The Group primarily operates in property investment and R&D segments, with R&D revenue significantly growing by **150%** in FY2025 while property investment revenue remained flat, and Finland's revenue contribution notably increased, with major customer revenue concentrated in these two segments - The Group has two operating segments: property investment (leasing of investment properties) and research and development (R&D, production, and sales of high-tech products and solutions)[16](index=16&type=chunk)[18](index=18&type=chunk) | Segment | 2025 Revenue (thousand HKD) | 2024 Revenue (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Property Investment | 8,681 | 8,681 | 0.0% | | R&D | 35,124 | 14,052 | 150.0% | | **Total** | **43,805** | **22,733** | **92.7%** | [Operating Segments](index=7&type=section&id=Operating%20Segments) The Group operates property investment and R&D segments; in FY2025, property investment generated **8,681 thousand HKD** revenue with a **105,320 thousand HKD** segment loss, while R&D generated **35,124 thousand HKD** revenue with a **6,739 thousand HKD** segment loss, showing significant R&D revenue growth but expanded property investment loss due to fair value losses on investment properties - The Group has two reportable operating segments: property investment (leasing of investment properties) and research and development (R&D, production, and sales of high-tech products and solutions)[16](index=16&type=chunk)[18](index=18&type=chunk) | Segment | 2025 Revenue (thousand HKD) | 2025 Segment Loss (thousand HKD) | 2024 Revenue (thousand HKD) | 2024 Segment Loss (thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | Property Investment | 8,681 | (105,320) | 8,681 | (95,458) | | R&D | 35,124 | (6,739) | 14,052 | (13,800) | | **Total** | **43,805** | **(112,059)** | **22,733** | **(109,258)** | - The primary non-cash item for the property investment segment was fair value loss on investment properties, amounting to **111,439 thousand HKD** in 2025 and **100,300 thousand HKD** in 2024[19](index=19&type=chunk) [Geographical Information](index=9&type=section&id=地區資料) In FY2025, revenue contribution from Finland significantly increased by **145.1%** from **13,147 thousand HKD** in 2024 to **32,220 thousand HKD**, while Hong Kong's revenue remained stable, and other regions also saw growth | Region | 2025 Revenue (thousand HKD) | 2024 Revenue (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Hong Kong | 8,681 | 8,681 | 0.0% | | Finland | 32,220 | 13,147 | 145.1% | | Others | 2,904 | 905 | 220.9% | | **Consolidated Total** | **43,805** | **22,733** | **92.7%** | - The Group's non-current assets (excluding certain property, plant, and equipment) are primarily located in Hong Kong[21](index=21&type=chunk) [Revenue from Major Customers](index=9&type=section&id=來自主要客戶之收益) In FY2025, customer A's revenue in the property investment segment remained stable at **8,681 thousand HKD**, while R&D segment customers B, C, and D experienced significant growth, with customer B's revenue increasing by **481.3%** from **1,329 thousand HKD** to **7,726 thousand HKD** | Customer | Segment | 2025 Revenue (thousand HKD) | 2024 Revenue (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | :--- | | Customer A | Property Investment | 8,681 | 8,681 | 0.0% | | Customer B | R&D | 7,726 | 1,329 | 481.3% | | Customer C | R&D | 5,181 | 2,046 | 153.2% | | Customer D | R&D | 3,865 | 1,768 | 118.6% | [Other Income](index=9&type=section&id=5.%20其他收入) Other income for FY2025 was **630 thousand HKD**, a **100.6%** increase from **314 thousand HKD** in 2024, primarily due to higher bank interest income and other miscellaneous income, with government grants no longer recognized | Income Source | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Government grants received | – | 43 | -100.0% | | Bank interest income | 480 | 244 | 96.7% | | Others | 150 | 27 | 455.6% | | **Total** | **630** | **314** | **100.6%** | [Other Gains and Losses](index=10&type=section&id=6.%20其他收益及虧損) Net other gains and losses for FY2025 resulted in a **122,506 thousand HKD** loss, a **26.9%** increase from the **96,558 thousand HKD** loss in 2024, primarily due to increased fair value losses on investment properties and a significant rise in impairment of property, plant, and equipment | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Fair value loss on investment properties | (111,439) | (100,300) | 11.1% | | Fair value gain on financial assets at FVTPL | 138 | 737 | -81.3% | | Fair value gain on convertible bonds | 3,448 | 3,831 | -10.0% | | Gain on dissolution of a subsidiary | – | 4,934 | -100.0% | | Impairment of property, plant and equipment | (15,841) | (6,398) | 147.6% | | Loss on disposal of a subsidiary | (85) | – | N/A | | Net exchange gain | 1,273 | 676 | 88.3% | | **Total** | **(122,506)** | **(96,558)** | **26.9%** | [Finance Costs](index=10&type=section&id=7.%20融資成本) Finance costs for FY2025 were **6,139 thousand HKD**, a **10.1%** increase from **5,577 thousand HKD** in 2024, primarily driven by higher interest on bank borrowings | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Interest on bank borrowings | 5,995 | 5,429 | 10.4% | | Interest on other borrowings | 144 | 148 | -2.7% | | **Total** | **6,139** | **5,577** | **10.1%** | [Income Tax Expense](index=10&type=section&id=8.%20所得稅開支) Income tax expense for FY2025 was **72 thousand HKD**, an **81.0%** decrease from **379 thousand HKD** in 2024, primarily due to reduced Hong Kong profits tax provision for the current year and an adjustment for over-provision in the prior year | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Current tax – Hong Kong profits tax provision for the year | 141 | 319 | -55.8% | | Under/(over) provision in prior year | (69) | 60 | -215.0% | | **Total** | **72** | **379** | **-81.0%** | - Hong Kong profits tax operates under a two-tiered system, with the first **2,000,000 HKD** of assessable profits taxed at **8.25%** and the remainder at **16.5%**[23](index=23&type=chunk) - Enterprise income tax in the People's Republic of China is provided at **25%**[24](index=24&type=chunk) [Loss Per Share](index=11&type=section&id=9.%20每股虧損) Basic loss per share for FY2025 was **9.38 HK cents**, slightly higher than **9.29 HK cents** in 2024, with diluted loss per share being identical due to the anti-dilutive nature of convertible bonds and option exercise prices exceeding the average market price | Metric | 2025 | 2024 | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Loss for the year attributable to owners of the Company (thousand HKD) | 145,144 | 130,130 | 11.5% | | Weighted average number of ordinary shares in issue (shares) | 1,546,826,985 | 1,401,371,757 | 10.4% | | Basic loss per share (HK cents) | (9.38) | (9.29) | 1.0% | | Diluted loss per share (HK cents) | (9.38) | (9.29) | 1.0% | - For the years ended June 30, 2025 and 2024, diluted loss per share was the same as basic loss per share because convertible bonds had an anti-dilutive effect, and the exercise price of share options was higher than the average market price of the shares[26](index=26&type=chunk) [Dividends](index=11&type=section&id=10.%20股%20息) The Company neither paid nor proposed any dividends for the year ended June 30, 2025, and no dividends have been recommended since the end of the reporting period - The Company neither paid nor proposed any dividends for FY2025 and FY2024[27](index=27&type=chunk) [Trade and Other Receivables](index=11&type=section&id=11.%20貿易及其他應收款項) As of June 30, 2025, total trade and other receivables were **5,308 thousand HKD**, a **10.7%** decrease from **5,945 thousand HKD** in 2024, driven by a significant reduction in trade receivables, while other receivables, deposits, and prepayments increased | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Trade receivables | 908 | 2,618 | -65.3% | | Other receivables | 2,110 | 1,582 | 33.4% | | Deposits | 1,307 | 1,108 | 18.0% | | Prepayments | 983 | 637 | 54.3% | | **Total** | **5,308** | **5,945** | **-10.7%** | - The credit period for trade receivables generally ranges from 30 to 90 days from the invoice date, and the Directors regularly review overdue balances[28](index=28&type=chunk) - Trade receivables aged 0 to 90 days were **908 thousand HKD** in 2025, compared to **2,183 thousand HKD** in the same period of 2024, indicating a reduction in overdue amounts[29](index=29&type=chunk) [Trade and Other Payables](index=12&type=section&id=12.%20貿易及其他應付款項) As of June 30, 2025, total trade and other payables were **18,866 thousand HKD**, a **34.0%** increase from **14,078 thousand HKD** in 2024, driven by significant increases in trade payables and accrued expenses | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Trade payables | 1,343 | 598 | 124.6% | | Accrued expenses | 5,255 | 3,182 | 65.1% | | Rental deposits received | 3,969 | 3,969 | 0.0% | | Other payables | 8,299 | 6,329 | 31.1% | | **Total** | **18,866** | **14,078** | **34.0%** | - The carrying amounts of trade payables are denominated in Euro[29](index=29&type=chunk) [Extracts from Independent Auditor's Report](index=13&type=section&id=Extracts%20from%20Independent%20Auditor's%20Report) This section presents key findings from the independent auditor's report, specifically addressing material uncertainties related to the Group's going concern ability [Material Uncertainty Related to Going Concern](index=13&type=section&id=與持續經營有關之重大不確定性) The independent auditor's report highlights a material uncertainty regarding the Group's going concern ability, stemming from a **145,279 thousand HKD** loss and **108,746 thousand HKD** net current liabilities for the year ended June 30, 2025, though the auditor's opinion remains unmodified on this matter - The auditor draws attention to the Group's loss of approximately **145,279 thousand HKD** and net current liabilities of approximately **108,746 thousand HKD** in FY2025[31](index=31&type=chunk) - These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern[31](index=31&type=chunk) - The auditor's conclusion is not modified in respect of this matter, indicating an unmodified opinion on the overall truth and fairness of the financial statements[30](index=30&type=chunk)[31](index=31&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's perspective on the Group's business performance, financial position, and future outlook, including operational highlights and strategic initiatives [Business Review and Outlook](index=13&type=section&id=業務回顧及展望) The Group's FY2025 loss expanded to approximately **145,000 thousand HKD**, primarily due to reduced fair value of investment properties and impairment expenses, while property investment revenue remained stable, and high-tech product development is actively pursuing next-generation technologies, expected to be a significant revenue contributor in the future - The Group recorded a loss of approximately **145,000 thousand HKD** for FY2025, an increase from approximately **133,000 thousand HKD** in FY2024[35](index=35&type=chunk) - The loss was primarily attributable to a decrease in the fair value of investment properties by approximately **111 million HKD** and an impairment expense of **16 million HKD** for leasehold land and buildings[35](index=35&type=chunk) - The Group's principal businesses are property investment and the research and development of high-tech systems and application solutions[34](index=34&type=chunk) [Overall Financial Performance](index=13&type=section&id=Overall%20Financial%20Performance) The Group recorded a loss of approximately **145,000 thousand HKD** in FY2025, an increase from **133,000 thousand HKD** in 2024, primarily due to a **111 million HKD** decrease in fair value of investment properties and **16 million HKD** impairment expense for leasehold land and buildings - The Group recorded a loss of approximately **145,000 thousand HKD** for FY2025, compared to a loss of approximately **133,000 thousand HKD** for the corresponding period in 2024[35](index=35&type=chunk) - The loss was primarily attributable to a decrease in the fair value of investment properties by approximately **111 million HKD** and an impairment expense of **16 million HKD** for leasehold land and buildings[35](index=35&type=chunk) [Property Investment](index=14&type=section&id=物業投資) Property investment business turnover (rental income) for FY2025 was approximately **9,000 thousand HKD**, consistent with 2024, and the Group will continue to identify and explore investment opportunities to strengthen its portfolio - Property investment business turnover (including rental income) for FY2025 was approximately **9,000 thousand HKD**, remaining stable compared to 2024[36](index=36&type=chunk) - The Group will continue to identify and explore investment opportunities to strengthen its investment portfolio[37](index=37&type=chunk) [Development of High-Tech Products](index=14&type=section&id=開發高科技產品) The Group is actively developing next-generation technology applications in imaging, monitoring, navigation, and advanced semiconductor processing with substantial investments, aiming for the technology division to become a significant revenue contributor by the end of the decade, primarily through subsidiaries like Pexray Oy, Navigs Oy, and Dynim Oy - The Group is actively developing next-generation technology applications covering imaging, monitoring, navigation, and advanced semiconductor processing, having made substantial investments[38](index=38&type=chunk) - The goal is for the technology division to become a significant revenue contributor to the Group by the end of this decade[38](index=38&type=chunk) - Total sales of high-tech products for FY2025 were approximately **32,000 thousand HKD**[40](index=40&type=chunk) [Pexray Oy (Portable X-ray Detection Equipment)](index=14&type=section&id=Pexray%20Oy) Pexray Oy develops portable digital X-ray detection equipment for industrial and security applications, with total sales of approximately **32,000 thousand HKD** in FY2025, where non-destructive testing sales surpassed security sales and are the primary growth driver, and a new battery-powered portable X-ray source was launched and first shipped in 2022 - Pexray Oy develops portable digital X-ray detection equipment for industrial and security applications, including weld inspection, corrosion detection, explosive ordnance disposal (EOD), and baggage screening[39](index=39&type=chunk) - Total sales for FY2025 were approximately **32,000 thousand HKD**[40](index=40&type=chunk) - Non-destructive testing sales exceeded security sales, with growth for FY2024-2025 and FY2025-2026 primarily driven by non-destructive testing sales[42](index=42&type=chunk) - Pexray launched a new battery-powered portable X-ray source in 2022, with first shipments in April 2022, marketed as a standalone product in the non-destructive testing market[42](index=42&type=chunk) [Navigs Oy (GNSS and Imaging Positioning)](index=15&type=section&id=Navigs%20Oy) Navigs Oy specializes in advanced GNSS and imaging positioning solutions for precision agriculture, off-highway industrial vehicles, marine navigation systems, and drones, with a product portfolio including IPESSA Tiny, Base Station (first delivered December 2023), Nano (shipped FY2023-24), and Yaw Bar (sales commenced) - Navigs Oy develops state-of-the-art GNSS and imaging positioning solutions for precision agriculture, off-highway industrial vehicles, marine navigation systems, and drones[43](index=43&type=chunk) - The product portfolio includes IPESSA Tiny (prototype completed early 2021, customer trials finished), IPESSA Base Station (first base station delivered December 2023), IPESSA Nano (first units shipped in FY2023-24), and IPESSA Yaw Bar (sales commenced)[43](index=43&type=chunk) [Dynim Oy and RTK VINS Project Portfolio (Advanced Navigation Platform)](index=16&type=section&id=Dynim%20Oy及RTK%20VINS项目组合) Dynim Oy collaborates with sister companies to develop the RTK VINS series, providing high-precision, scalable positioning, sensing, and connectivity solutions for next-generation autonomous systems, with the portfolio including RTK VINS AI (NVIDIA-based, Q4 2025 release expected), RTK VINS Lite (Qualcomm-based, Android version entering new manufacturing cycle), and RTK VINS Dual Core (STM-based, first batch for testing in Q3 2025) - Dynim Oy collaborates with sister companies to develop the RTK VINS series, offering positioning, sensing, and connectivity features, aiming to provide high-precision, scalable solutions for next-generation autonomous systems[44](index=44&type=chunk)[51](index=51&type=chunk) - The RTK VINS AI (NVIDIA-based) prototype faces stereo synchronization and driver issues, with the first version expected to be released in Q4 2025[45](index=45&type=chunk) - The Android version of RTK VINS Lite (Qualcomm-based) is entering a new three-month manufacturing cycle[46](index=46&type=chunk) - The RTK VINS Dual Core (STM-based) mainboard has completed manufacturing and testing, with the first batch to be sent for further testing and development in Q3 2025[49](index=49&type=chunk) - Dynim will market its products under the Dynim brand in the EU market and is actively expanding its engineering team in Vietnam[50](index=50&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=18&type=section&id=流動資金、財政資源及資本架構) As of June 30, 2025, the Group had net current liabilities of approximately **109,000 thousand HKD**, a current ratio of **0.22**, and bank balances and cash of approximately **19,000 thousand HKD**, with total liabilities around **158,000 thousand HKD** and a debt-to-capital ratio of approximately **28%**, with most assets and borrowings denominated in HKD, posing no significant exchange rate risk - As of June 30, 2025, the Group had net current liabilities of approximately **109,000 thousand HKD** and a current ratio of **0.22**[54](index=54&type=chunk) - Bank balances and cash amounted to approximately **19,000 thousand HKD**[54](index=54&type=chunk) Composition of Outstanding Liabilities (June 30, 2025) | Item | Amount (thousand HKD) | | :--- | :--- | | Trade and other payables | 19,000 | | Amounts due to related parties | 13,000 | | Secured bank borrowings | 101,000 | | Other borrowings and liabilities | 25,000 | | **Total** | **158,000** | - The Group's debt-to-capital ratio (total liabilities divided by total assets) was approximately **28%**[55](index=55&type=chunk) - Bank borrowings are secured by investment properties and leasehold land and buildings valued at approximately **162,000 thousand HKD** and **164,000 thousand HKD**, respectively[54](index=54&type=chunk) [Material Investments, Acquisitions and Disposals](index=18&type=section&id=重大投資、收購及出售事項) For the year ended June 30, 2025, the Group had no material acquisitions or disposals of subsidiaries, nor any significant investments - In FY2025, the Group had no material acquisitions or disposals of subsidiaries[56](index=56&type=chunk) - As of June 30, 2025, the Group had no material investments[57](index=57&type=chunk) [Employees and Remuneration Policy](index=18&type=section&id=僱員及薪酬政策) As of June 30, 2025, the Group had a total of **43** employees, with remuneration determined based on market conditions - As of June 30, 2025, the Group had a total of **43** employees[58](index=58&type=chunk) - Employee remuneration is determined based on market conditions[58](index=58&type=chunk) [Contingent Liabilities](index=18&type=section&id=或然負債) As of June 30, 2025, the Group had no material contingent liabilities - As of June 30, 2025, the Group had no material contingent liabilities[59](index=59&type=chunk) [Share Purchases and Redemptions](index=18&type=section&id=買賣及贖回股份) For the year ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed shares - In FY2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed shares[60](index=60&type=chunk) [Issue of New Shares upon Redemption of Convertible Bonds](index=19&type=section&id=就贖回可換股票據而發行新股份) Convertible bonds due November 23, 2024, were converted into **243,661,670** new conversion shares, credited as fully paid, on November 25, 2024, instead of being repaid in cash - Convertible bonds due November 23, 2024, were settled by issuing conversion shares rather than cash repayment[61](index=61&type=chunk) - On November 25, 2024, outstanding convertible bonds were converted into **243,661,670** new conversion shares, credited as fully paid[61](index=61&type=chunk) [Board Diversity and Compliance with Listing Rules](index=19&type=section&id=董事會成員多元化及遵守上市規則) In accordance with Listing Rule 13.92, the Company must appoint at least one director of a different gender by December 31, 2024, to meet diversity requirements, and is actively seeking suitable candidates to fill the necessary board positions - Under Listing Rule 13.92, a single-gender board does not meet diversity requirements, and issuers must appoint at least one director of a different gender by December 31, 2024[62](index=62&type=chunk) - The Company is committed to identifying and appointing suitable candidates to fill the required board positions as soon as possible[62](index=62&type=chunk) [Update on HKEX's Decision Regarding Listing Rule 13.24](index=19&type=section&id=有關聯交所就上市規則第13.24條所作決定的最新資料) The HKEX Listing Department has determined that the Company failed to maintain sufficient operations and assets of sufficient value under Listing Rule 13.24, leading to the suspension of its shares from trading since November 27, 2024, and requiring compliance within 18 months to avoid delisting - The HKEX Listing Department has determined that the Company failed to maintain a sufficient level of operations and assets of sufficient value as required by Listing Rule 13.24[63](index=63&type=chunk) - The Company's shares have been suspended from trading on the HKEX since November 27, 2024, and will remain suspended until further notice[63](index=63&type=chunk) - The Company must take necessary actions to demonstrate compliance with Listing Rule 13.24 within 18 months from November 27, 2024, otherwise the HKEX may cancel the listing of its shares[63](index=63&type=chunk) [Other Information](index=19&type=section&id=Other%20Information) This section includes additional disclosures on corporate governance, regulatory compliance, and other pertinent information regarding the Company's operations [Review of Annual Results](index=19&type=section&id=審閱末期業績) The Audit Committee has reviewed the Group's annual results for the year ended June 30, 2025 - The Audit Committee has reviewed the Group's annual results for the year ended June 30, 2025[65](index=65&type=chunk) [Corporate Governance](index=20&type=section&id=企業管治) The Company complied with all code provisions of the Corporate Governance Code in FY2025, with exceptions including insufficient board gender diversity, non-attendance of some independent non-executive directors at general meetings, and the roles of Chairman and Chief Executive Officer being held by the same individual - The Company complied with all code provisions of the Corporate Governance Code as set out in Appendix C1 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited for FY2025, with certain exceptions[66](index=66&type=chunk) - A board diversity policy has been adopted, but a suitable female director has not yet been identified[69](index=69&type=chunk) - Certain independent non-executive directors were unable to attend the annual general meeting due to other commitments[69](index=69&type=chunk) - Dr. Weng Shihu, the Chairman, temporarily holds the position of Chief Executive Officer, a structure the Board believes provides strong leadership and efficient business planning[69](index=69&type=chunk) [Continued Suspension of Trading](index=20&type=section&id=繼續暫停買賣) The Company's shares have been suspended from trading on the HKEX since 9:00 a.m. on November 27, 2024, and will remain suspended until further notice, with the Company advising shareholders and potential investors to exercise caution when dealing in its securities - The Company's shares have been suspended from trading on the HKEX since 9:00 a.m. on November 27, 2024[67](index=67&type=chunk) - Trading in the shares will remain suspended until further notice[67](index=67&type=chunk) - The Company advises shareholders and potential investors to exercise caution when dealing in the Company's securities[68](index=68&type=chunk)

本 公 司 股 份 已 自 二 零 二 四 年 十 一 月 二 十 七 日 上 午 九 時 正 起 於 聯 交 所 暫 停 買 賣，並 繼續暫停買賣直至另行通知為止。 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。 PALADIN LIMITED （於百慕達註冊成立之有限公司） （股份代號：495） 董事會召開日期 及 繼 續暫停買賣 Paladin Limited（「本公司」）之 董 事 會（「董事會」）宣 布 將 於 二 零 二 五 年 九 月二十 九 日 舉 行 董 事 會 會 議，以（其 中 包 括）批 准本公司及其附屬公司截至二零二 五 年 六 月 三 十 日 止 年 度 之 末 期 業 績 及 其 發 佈，以 及 考 慮 派 發 末 期 股 息（如 有）。 繼續暫停買賣 本公司股東及潛在投資者於買賣本公司證券時務請審慎行事。 承董事會命 Paladin Limited 主 席 翁 ...

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 致：香港交易及結算所有限公司 截至月份: 2025年8月31日 狀態: 新提交 公司名稱: PALADIN LIMITED 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) | 00495 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 HKD | | 500,000,000 | | 2. 股份分類 | 優先股 | 股份類別 | 不適用 | | 於香 ...

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 佈 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。 PALADIN LIMITED （於百慕達註冊成立之有限公司） （股份代號：495） 暫停買賣季度更新 茲提述Paladin Limited（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）日 期 為 二 零 二 四 年十一月十八日、二十五日及二十六日、二零二四年十二月二日、二零二五年二月 二 十 六 日 及 二 零 二 五 年 五 月 二 十 六 日 的 公 佈（統 稱「過往公佈」）。本 公 佈 乃 根 據 上 市規則第13.09條及香港證券及期貨條例第XIVA部內幕消息條文作出。 聯交所上市科為本公司列出復牌指引，大意如下： 於 本 公 佈 日 期，本 公 司 正 考 慮 可 能 採 取 的 措 施，以 令 上 市 科 信 納 本 公 司 遵 守 上 市 規則第13.24條，並 正 物 色 合 適 的 女 性 候 選 人 擔 任 ...

Financial Performance - The group's revenue for the six months ending December 31, 2024, increased by approximately 105% to about HKD 21,000,000, while the loss recorded was approximately HKD 31,000,000, compared to a loss of HKD 16,000,000 in the same period last year[6]. - The company reported revenue of HKD 21,135,000 for the six months ended December 31, 2024, representing a 105.5% increase compared to HKD 10,324,000 in the same period of 2023[54]. - Gross profit for the same period was HKD 10,088,000, up from HKD 5,698,000, indicating an increase of 77.5%[54]. - The total comprehensive loss for the period was HKD 29,696,000, compared to a loss of HKD 17,087,000 in the prior year, marking an increase of 73.5%[55]. - The net loss for the six months ended December 31, 2024, was approximately HKD 31,196,000, indicating ongoing financial challenges[61]. - The group reported a total segment loss of HKD 23,972,000 for the six months ended December 31, 2024, compared to a loss of HKD 8,597,000 for the same period in 2023, indicating a deterioration in performance[87]. - The group’s total comprehensive loss before tax for the six months ended December 31, 2024, was HKD 31,029,000, compared to a loss of HKD 15,638,000 in the same period of 2023, indicating a worsening financial position[87]. - The company incurred an operating loss of HKD 27,752,000, compared to a loss of HKD 12,860,000 in the previous year, reflecting a deterioration in operational performance[54]. - The basic loss per share was HKD 2.16, compared to HKD 0.96 in the same period last year, indicating a significant increase in losses per share[55]. - The group reported a loss of HKD 31,288,000 for the six months ended December 31, 2024, compared to a loss of HKD 13,480,000 in the same period of 2023, indicating a significant increase in losses[94]. Revenue Sources - The total sales for the six months ending December 31, 2024, were approximately HKD 18,000,000[12]. - Rental income from investment properties for the six months ending December 31, 2024, was approximately HKD 3,000,000, down from HKD 4,000,000 in the previous year[7]. - Revenue from the property investment segment was HKD 2,894,000 for the six months ended December 31, 2024, down from HKD 4,341,000 in the same period of 2023, a decline of 33.4%[88]. - Research and development segment revenue was HKD 18,241,000 for the six months ended December 31, 2024, compared to HKD 5,983,000 in the same period of 2023, showing an increase of 203.5%[85]. Investments and Future Plans - The group has invested approximately HKD 160,000,000 in collaboration with the Finnish National Technology Innovation Agency and plans to make significant further investments in the coming years[9]. - The technology department expects to generate revenue of USD 29,000,000 by 2029 from the developed technology products and systems[9]. - The group plans to continue its research and development efforts in producing and selling portable X-ray systems and advanced software solutions, indicating a focus on innovation and market expansion[83]. Financial Position - The net current liabilities of the group as of December 31, 2024, are approximately HKD 98,000,000, with a current ratio of 0.28[24]. - The total outstanding liabilities of the group amount to approximately HKD 155,000,000, including trade and other payables of about HKD 15,000,000 and secured bank borrowings of approximately HKD 103,000,000[24]. - The capital debt ratio of the group is approximately 23%, calculated as total liabilities divided by total assets[26]. - The company has significant uncertainty regarding its ability to continue as a going concern due to the net current liabilities of HKD 98,059,000[61]. - As of December 31, 2024, total non-current assets amounted to HKD 634,942,000, a decrease of 3.6% from HKD 658,992,000 as of June 30, 2024[56]. - Current assets totaled HKD 37,646,000, down 19% from HKD 46,476,000 in June 2024, primarily due to a decrease in cash and cash equivalents[56]. - The company's equity attributable to owners decreased to HKD 548,951,000 from HKD 576,503,000, a decline of 4.8%[57]. - The company’s total assets less current liabilities stood at HKD 536,883,000, down from HKD 564,114,000[57]. Share Options and Capital Structure - The company has granted a total of 397,721,900 share options under the share option plan, representing approximately 24.18% of the issued share capital as of the reporting date[37]. - The exercise price for the share options ranges from HKD 0.179 to HKD 0.321, with grant dates spanning from May 30, 2016, to November 9, 2018[39]. - The share options are a strategic tool for employee retention and motivation, aligning their interests with the company's performance[37]. - The weighted average number of ordinary shares used for calculating basic loss per share increased to 1,450,294,733 for the six months ended December 31, 2024, from 1,401,437,549 in 2023[95]. - The company has a balanced ownership structure with key shareholders each holding 50% in Gold Seal Holdings Limited[38]. Cash Flow and Liquidity - The company reported a net cash outflow from operating activities of HKD 7,401,000 for the six months ended December 31, 2024, an improvement from HKD 11,991,000 in the same period of 2023[59]. - Cash and cash equivalents at the end of the period were HKD 24,350,000, down from HKD 36,250,000 at the beginning of the period[59]. - The group has bank and cash balances of approximately HKD 24,000,000 as of December 31, 2024[24]. - The group has approximately HKD 102,730,000 in secured bank loans with repayment terms that will be repaid according to the scheduled repayment dates, and the bank will not exercise its discretion to demand immediate repayment[62]. - As of December 31, 2024, the group has undrawn available bank credit of approximately HKD 84,770,000[65]. Employee and Management Compensation - The total number of employees in the group as of December 31, 2024, is 45, with compensation determined based on market conditions[29]. - The remuneration for key management personnel was HKD 1,461,000 for the six months ended December 31, 2024, down from HKD 1,991,000 in 2023[128]. Compliance and Governance - The company is required to take necessary actions within 18 months from November 27, 2024, to comply with listing rules, or risk delisting[49]. - The company has committed to appoint at least one director of a different gender by December 31, 2024, to comply with diversity requirements[46]. - The board approved and authorized the publication of the consolidated interim financial statements on February 27, 2025[129].