NOTIFICATION LETTER 通知信函 Dear Non-Registered Holder(Note 1) , 1 August 2025 AV CONCEPT HOLDINGS LIMITED (the "Company") Should you have any queries relating to any of the above matters, please call the Branch Share Registrar's telephone hotline at (852) 2980 1333 during business hours from 9:00 a.m. to 6:00 p.m. Monday to Friday (excluding public holidays). By order of the Board AV CONCEPT HOLDINGS LIMITED So Yuk Kwan Chairman Notes: 各位非登記持有人 （附註 1 ） ： AV CONCEPT HOLDINGS LIMITED（「本公司」） — 於本公司網站刊發 2025 年年報、 ...

NOTIFICATION LETTER 通知信函 Dear Registered Shareholder, 1 August 2025 AV CONCEPT HOLDINGS LIMITED (the "Company") - Notification of publication of 2025 annual report, circular regarding general mandates to issue and repurchase shares, re-election of retiring directors, notice of 2025 annual general meeting and proxy form ("Current Corporate Communication") on the Company's website The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at w ...

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通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。 股東週年大會通告 茲通告AV Concept Holdings Limited（「本公司」）謹訂於二零二五年九月五日（星期五）上午十一時正 於香港九龍灣宏照道39號企業廣場三期6樓會議室舉行股東週年大會，以考慮並酌情處理下列普通事 項： 普通決議案 1 1. 省覽並考慮本集團截至二零二五年三月三十一日止年度之經審核綜合財務報表、董事會報告及 核數師報告； 2. 宣派截至二零二五年三月三十一日止年度之末期股息每股1.00港仙； 3. 各自作為一項獨立決議案，重選退任董事並授權董事會釐定董事之薪酬；及 4. 續聘安永會計師事務所為本公司核數師並授權董事會釐定其酬金； 及，作為特別事項，考慮並酌情以普通決議案方式通過下列決議案： 5. 「動議： (a) 在下文(c)段規限下，謹此一般及無條件批准本公司董事（「董事」）於有關期間（定義見下文(e) 段）內行使本公司一切權力，根據香港聯合交易所有限公司證券上市規則及 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之證券經紀或其他註 冊證券商、銀行經理、律師、專業會計師或其他專業顧問以尋求獨立意見。 閣下如已售出或轉讓名下所有AV Concept Holdings Limited（「本公司」）股份，應立即將本 通函及隨附之代表委任表格送交買主、承讓人或經手買賣或轉讓之銀行、證券經紀或其他 代理商，以便轉交買主或承讓人。 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之任何損失承擔任何責任。 建議 (1)發行及購回股份之一般授權； (2)重選退任董事及 股東週年大會通告 本公司謹訂於二零二五年九月五日（星期五）上午十一時正於香港九龍灣宏照道39號企業廣 場三期6樓會議室舉行股東週年大會，召開大會之通告載於本通函第AGM-1頁至第AGM-5 頁。 無論 閣下能否出席大會，務請盡快按照隨附之代表委任表格上印備之指示填妥表格，並 無論如何最遲須於股東週年大會或其任何續會指定舉行時間四十八小時前交回本公司之香 港股份 ...

年 報 Contents 目錄 | FINANCIAL HIGHLIGHTS | 財務重點 | 2 | | --- | --- | --- | | CORPORATE INFORMATION | 公司資料 | 4 | | CHAIRMAN'S STATEMENT | 主席致辭 | 6 | | MANAGEMENT DISCUSSION AND ANALYSIS | 管理層討論及分析 | 11 | | PROFILE OF DIRECTORS AND SENIOR MANAGEMENT | 董事及高級管理層履歷 | 19 | | DIRECTORS' REPORT | 董事會報告 | 23 | | CORPORATE GOVERNANCE REPORT | 企業管治報告 | 36 | | ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT | 環境、社會及管治報告 | 47 | | INDEPENDENT AUDITOR'S REPORT | 獨立核數師報告 | 88 | | AUDITED CONSOLIDATED FINANCIAL STATEMENTS | 經審核綜合財 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部份內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 截至二零二五年三月三十一日止年度之全年業績公佈 | 損益表重點 | | | | --- | --- | --- | | | 二零二五年 | 二零二四年 | | | 百萬港元 | 百萬港元 | | 收益 | | | | －半導體分銷 | 1,146.2 | 937.3 | | －消費類產品及產品採購業務 | 43.3 | 46.7 | | －創投 | – | – | | －其他 | 0.4 | 0.3 | | | 1,189.9 | 984.3 | | 除利息、稅項、折舊、攤銷及非現金項目前溢利╱（虧損） | | | | －公司費用 | (34.5) | (29.6) | | －創投 | (1.4) | (11.2) | | －半導體分銷 | 139.8 | 200.5 | | －消費類產品及產品採購業務： | | | | 銷售及分銷費用 | (20.9) | (19.7) | | 經營虧損 | (4.1) ...

Financial Performance - Total revenue for the six months ending September 30, 2024, was HKD 629.3 million, a 55.2% increase from HKD 405.7 million in the same period last year[14]. - Semiconductor distribution revenue increased to HKD 606.5 million, up from HKD 381.4 million, representing a growth of 58.9%[10]. - The company reported a profit attributable to shareholders of HKD 56.3 million, compared to HKD 31.6 million in the previous year, marking an increase of 78.1%[10]. - Basic earnings per share for the period were HKD 0.062, up from HKD 0.035 in the previous year, reflecting improved profitability[14]. - The company reported a pre-tax profit of HKD 56,428,000 for the period, reflecting a strong performance despite the challenges faced in certain segments[35]. - The venture capital segment reported revenue of HKD 0.2 million, recovering from a loss of HKD 7.6 million in the previous year[97]. - The company's gross profit before interest and tax was HKD 58.6 million, compared to HKD 31.7 million in the previous year[95]. - The company’s operating loss was HKD 2.3 million, a decrease from an operating profit of HKD 0.7 million in the previous year[95]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.01 per share for the six months ending September 30, 2024, compared to no dividend in the same period last year[1]. - The total dividend declared for the six months ended September 30, 2024, was approximately HKD 9,087,000, compared to HKD 0 for the same period in 2023[59]. - The company declared dividends from its joint ventures amounting to HKD 46.62 million for the six months ended September 30, 2024, compared to HKD 16.32 million in the previous year[90]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 1,942.3 million, up from HKD 1,872.1 million as of March 31, 2024[12]. - Total liabilities increased to HKD 177,081, up 19.06% from HKD 148,713 as of March 31, 2024, primarily due to an increase in bank borrowings[20]. - The total liabilities as of September 30, 2024, were HKD 190,960,000, a decrease from HKD 162,608,000 as of March 31, 2024, indicating a reduction of approximately 17.4%[42]. - The net asset value as of September 30, 2024, was HKD 1,751,351, representing a growth of 2.45% from HKD 1,709,507 as of March 31, 2024[22]. - Current assets increased to HKD 250,897, up 11.88% from HKD 224,279 as of March 31, 2024, driven by a rise in inventory to HKD 111,551, which is a 24.5% increase[20]. Cash Flow and Financing - Cash and cash equivalents stood at HKD 95.8 million, compared to HKD 76.3 million in the previous period[12]. - Operating cash flow for the six months ended September 30, 2024, was HKD 6,172, a recovery from a negative cash flow of HKD 67,721 in the same period last year[28]. - Financing activities generated a net cash flow of HKD 11,652, down from HKD 20,414 in the previous year, indicating a shift in financing strategy[28]. - The financing costs for the six months ended September 30, 2024, were HKD 3,112,000, up from HKD 1,328,000 in 2023, indicating a significant increase of 134.1%[54]. Market and Industry Outlook - The global semiconductor revenue is projected to grow by 19% in 2024, reaching USD 630 billion, driven by demand for AI-related semiconductors[98]. - The semiconductor industry is experiencing a rebound due to a surge in demand for AI-related semiconductors, particularly in the memory storage chip sector, which is expected to benefit significantly from the ongoing growth in AI server functionality[102]. - The global economic outlook remains complex, with inflation pressures and geopolitical tensions posing significant risks to stability[111]. - The semiconductor market is expected to continue its strong growth trajectory, driven by the increasing demand for AI technologies and advanced memory solutions[111]. Strategic Focus and Future Plans - The company plans to continue expanding its semiconductor distribution business and exploring new product development opportunities[14]. - Future outlook includes continued investment in product development and market expansion, leveraging the increase in cash reserves for strategic initiatives[30]. - The company is actively exploring new technologies and product developments to strengthen its market position and improve overall profitability[39]. - The company aims to leverage opportunities in the semiconductor distribution core business driven by AI advancements and the growing importance of advanced storage chip solutions[112]. Employee and Governance - The group employed approximately 140 full-time employees as of September 30, 2024, an increase from 134 employees on March 31, 2024[125]. - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Dr. Su[136]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's financial reporting procedures and internal controls[140].

Revenue Growth - Revenue for the six months ended September 30, 2024, was HKD 629.3 million, a 55.2% increase from HKD 405.7 million in the same period of 2023[2] - Semiconductor distribution revenue reached HKD 606.5 million, up from HKD 381.4 million, reflecting a significant growth of 59.2%[2] - Total revenue for the six months ended September 30, 2024, reached HKD 629,302,000, compared to HKD 405,739,000 in the previous year, indicating an increase of 55.2%[42] - Semiconductor distribution revenue for the six months ended September 30, 2024, was HKD 606,461,000, up from HKD 381,487,000 in the same period last year, representing a growth of 59.1%[42] Profitability - The company reported a net profit attributable to shareholders of HKD 56.3 million, compared to HKD 31.6 million in the previous year, marking an increase of 78.1%[2] - Basic and diluted earnings per share for the period were HKD 6.20, compared to HKD 3.48 in the previous year, representing an increase of 78.4%[6] - The group reported a total of HKD 50,999,000 in trade payables, including HKD 31,947,000 in trade payables and HKD 16,046,000 in accrued expenses as of September 30, 2024[79] - The group’s profit before tax for the six months ended September 30, 2024, was HKD 56,317,000, compared to HKD 31,639,000 for the same period in 2023, representing an increase of 78.2%[58] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 1,942.3 million, up from HKD 1,872.1 million as of March 31, 2024, indicating a growth of 3.7%[4] - Total liabilities increased to HKD 177,081 thousand, a rise of 19.06% from HKD 148,713 thousand as of March 31, 2024, primarily due to an increase in bank borrowings[13] - The total current liabilities were HKD 177.1 million as of September 30, 2024, compared to HKD 148.7 million on March 31, 2024[133] - The total equity as of September 30, 2024, was HKD 1,751.4 million, compared to HKD 1,709.5 million as of March 31, 2024[124] Cash Flow and Financial Position - Cash and cash equivalents increased to HKD 95.8 million from HKD 76.3 million, showing a growth of 25.5%[4] - The current ratio decreased to 141.7% from 150.8%, indicating a slight decline in liquidity position[4] - The group’s cash and cash equivalents decreased to HKD 31,112,000 as of September 30, 2024, from HKD 31,632,000 as of March 31, 2024[72] - The debt-to-equity ratio increased to 4.1% from 2.1%, reflecting a rise in borrowings and lease liabilities to HKD 71.9 million from HKD 36.2 million[4] Foreign Exchange and Investments - The company recorded a foreign exchange gain of HKD 3.7 million, a significant improvement from a loss of HKD 2.3 million in the prior year[10] - The company recorded a net foreign exchange gain of HKD 5,583,000 for the six months ended September 30, 2024[51] - The total investment in joint ventures was reported at HKD 1,493,395,000, indicating a strategic focus on collaborative growth[40] Future Outlook and Strategy - The company plans to continue expanding its semiconductor distribution and consumer products segments, focusing on innovation and market penetration[29] - The group aims to continue focusing on its core semiconductor distribution business while adapting to major industry trends driven by advancements in artificial intelligence and the growing e-commerce sector[119] - The company aims to enhance its product offerings and market presence through ongoing research and development initiatives[42] Market Trends - Global semiconductor revenue is projected to grow by 19% in 2024, reaching USD 630 billion, driven by demand for AI-related semiconductors[93] - The memory storage chip market is expected to grow by 20.5% in 2025, reaching USD 196.3 billion, supported by demand for high-performance memory solutions[93] - The demand for high-bandwidth memory (HBM) is expected to surge by 284% in 2024, indicating strong growth potential in the AI server market[93] Employee and Operational Metrics - The company employed approximately 140 full-time employees as of September 30, 2024, an increase from 134 employees on March 31, 2024[136] - The company maintained a prudent policy in managing its financial resources to seize business growth opportunities[133]

2024 年 ANNUAL REPORT 報 目錄 Contents Pages 頁次 | FINANCIAL HIGHLIGHTS | 財務重點 | 2 | | --- | --- | --- | | CORPORATE INFORMATION | 公司資料 | 4 | | CHAIRMAN'S STATEMENT | 主席致辭 | 6 | | MANAGEMENT DISCUSSION AND ANALYSIS | 管理層討論及分析 | 9 | | PROFILE OF DIRECTORS AND SENIOR MANAGEMENT | 董事及高級管理層履歷 | 17 | | DIRECTORS' REPORT | 董事會報告 | 21 | | CORPORATE GOVERNANCE REPORT | 企業管治報告 | 34 | | ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT | 環境、社會及管治報告 | 45 | | INDEPENDENT AUDITOR'S REPORT | 獨立核數師報告 | 85 | | AUDITED CONSOLIDATED FI ...

截至二零二四年三月三十一日止年度之全年業績公佈 – 2 – 綜合損益表 截至二零二四年三月三十一日止年度 千港元 千港元 | --- | --- | --- | |-------|---------|---------| | | (3,905) | (3,986) | | | | | | | (3,905) | (3,986) | | | 105,258 | 36,732 | – 4 – – 5 – 千港元 千港元 資產淨值 1,709,507 1,613,336 權益總額 1,709,507 1,613,336 1.1 編製基準 當本公司直接或間接擁有少於被投資企業大多數投票權或類似權利時，本集團於評估其是否擁有對被投資企業之權 力時會考慮一切相關事實及情況，包括： 倘有事實及情況顯示上述三個控制權元素中一項或以上出現變動，則本集團會重新評估其是否控制被投資企業。於 一間附屬公司之擁有權權益變動如並無導致喪失控制權，則入賬列為權益交易。 香港財務報告準則第17號 保險合約 香港會計準則第1號及香港財務報告 準則實務報告第2號（修訂本） 披露會計政策 (a) 香港會計準則第1號（修訂本）要求實體披露其重要會計 ...