| 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: | 皇冠環球集團有限公司 | | | 呈交日期: | 2025年10月8日 | | | I. 法定/註冊股本變動 不適用 | | | II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00727 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 317,961,000 | | 0 | | 317,961,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 317,961,000 | | 0 | | 317,961,000 | 第 2 頁 共 10 頁 v ...

第 2 頁 共 10 頁 v 1.1.1 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8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 皇冠環球集團有限公司 | | | 呈交日期: | 2025年9月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00727 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 317,961,000 | | 0 | | 317,96 ...

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 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。 Crown International Corporation Limited （在香港註冊成立之有限公司） （股份代號：727） 有 關 須 予 披 露 交 易－收 購 目 標 公 司100%股 權 之補充公告 茲 提 述 於 二 零 二 五 年 三 月 二 十 七 日 有 關 須 予 披 露 交 易－收 購 目 標 公 司100%股 權 之 公 告（「該公告」）。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 董事會謹此提供有關優質白酒業務以及目標公司及生產廠房及設備之估值及 財 務 資 料 之 以 下 額 外 資 料： 優質白酒業務背景 本 公 司 自 二 零 二 二 年 起 進 軍 優 質 白 酒 市 場，並 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 皇冠環球集團有限公司 | | | 呈交日期: | 2025年8月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00727 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 317,961,000 | | 0 | | 317,961,000 | | 增加 / ...

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，並明確表示概不就因本公佈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 CROWN INTERNATIONAL CORPORATION LIMITED 皇冠環球集團有限公司 （於香港註冊成立之有限公司） （股份代號：727） 於二零二五年七月三十一日舉行之股東週年大會 按股數投票表決的結果 1 載於通告中所有提呈的決議案均於股東週年大會上獲股東以投票方式表決。股東 週年大會的投票表決結果如下： 由於超過 50%的票數投票贊成上述第 1、2、5 至 9 項普通決議案，故所有該等普 通決議案均已獲正式通過。 由於超過 50%的票數投票反對上述第 3 及 4 項決議案決議案，故所有該等普通決 議案均未獲通過。 於股東週年大會日期，已發行的股份為 317,961,000 股，即為賦予股東權利出席股 東週年大會並於會上投票贊成或反對決議案之股份總數。概無股份賦予股東權利 出席股東週年大會但須根據香港聯合交易所有限公司證券上市規則（「上市規則」） 第 13.40 條於會上放棄投票贊成任何決 ...

Group 1 - The article provides a list of companies listed on the Hong Kong stock market along with their dividend distribution dates and shareholder meeting dates [1][4][5] - Notable companies mentioned include China Railway, Green Town China, and Budweiser APAC, which are scheduled for dividend payments [4][5] - The document outlines various companies' actions regarding capital increases and dividend distributions, indicating ongoing corporate activities in the market [4][5]

[Corporate Information](index=2&type=section&id=Corporate%20Information) This section details the company's fundamental information, including board and committee member changes, key personnel, and professional advisors [Corporate Information](index=2&type=section&id=Corporate%20Information) This chapter provides basic company information, including lists of board and committee members, company secretary, registered office, share registrar, independent auditor, and principal bankers Changes in Board Members | Name | Position | Change | Date | | :--- | :--- | :--- | :--- | | Mr. DENG Jianguo | Executive Director | Appointed | August 15, 2024 | | Mr. CHAN Yuk Charm | Executive Director | Removed | January 10, 2025 | | Ms. LO Lai Lai Samantha | Independent Non-executive Director | Appointed | July 9, 2024 | | Ms. HU Ruixuan | Independent Non-executive Director | Appointed | August 15, 2024 | | Mr. WONG Wai Kit | Independent Non-executive Director | Appointed | August 15, 2024 | | Ms. LIU Ting | Independent Non-executive Director | Resigned | July 9, 2024 | | Mr. XIAO Ganghua | Independent Non-executive Director | Resigned | August 22, 2024 | | Mr. NG Ki Man | Independent Non-executive Director | Resigned | August 13, 2024 | - The company's independent auditor is CCTH CPA Limited[8](index=8&type=chunk) [Chairman's Report](index=5&type=section&id=Chairman's%20Report) The Chairman's Report highlights the Group's successful turnaround to a profit of **HKD 16.1 million**, driven by diversified operations despite property project delays [Chairman's Report](index=5&type=section&id=Chairman's%20Report) The Chairman's Report reviews the financial year ended March 31, 2025, highlighting the Group's successful turnaround to a profit attributable to shareholders of approximately **HKD 16.1 million** Annual Performance Highlights | Indicator | FY2025 | FY2024 | | :--- | :--- | :--- | | Profit/(Loss) Attributable to Shareholders | Approx. **HKD 16.1 million** | Approx. (**HKD 126.8 million**) | | Total Assets | Approx. **HKD 1,510.8 million** | N/A | - The Group primarily engages in property investment, property development, hotel operations, big health planning and management services, and premium baijiu trading and development businesses in China[14](index=14&type=chunk)[16](index=16&type=chunk) - Due to the COVID-19 pandemic, the Golden Beach No. 1 property development project in Weihai, Shandong, experienced significant construction delays, with completion now expected in **2026/2027**. The project has a total gross floor area of approximately **195,000 square meters** and a current total market valuation of approximately **RMB 808 million**[18](index=18&type=chunk)[19](index=19&type=chunk)[22](index=22&type=chunk) - The Group's recently launched premium baijiu trading and development business provides sustainable development opportunities and stable operating cash flow[20](index=20&type=chunk)[22](index=22&type=chunk) [Management Discussion and Analysis](index=7&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the Group's operational and financial performance, liquidity, risk factors, and future strategic outlook [Business Review](index=8&type=section&id=Business%20Review) The Group's business review highlights its core property development, hotel operations, big health, and new premium baijiu trading segments in China - The Group's core property development project is the 'Weihai Property' (Golden Beach No. 1) in Weihai, Shandong, with a total gross floor area of approximately **195,000 square meters**, of which about **130,000 square meters** will be sold as serviced apartments[35](index=35&type=chunk)[38](index=38&type=chunk) Weihai Property Pre-sale Status | Indicator | Value | | :--- | :--- | | Total Accumulated Pre-sale Amount | Approx. **RMB 207 million** | | Total Pre-sold Area | Approx. **17,000 square meters** | | Expected Revenue Recognition Time | **FY2026/2027** | - The hotel portion of the Weihai Property is expected to offer approximately **200 luxury suites** and will be managed by an internationally renowned hotel group, with completion anticipated in **2026/2027**[48](index=48&type=chunk)[51](index=51&type=chunk) - The Group commenced its premium baijiu trading and development business in **2023**, aiming to provide sustainable business development opportunities[29](index=29&type=chunk)[34](index=34&type=chunk)[50](index=50&type=chunk) [Financial Review](index=12&type=section&id=Financial%20Review) The Group achieved a significant turnaround to a profit of **HKD 16.14 million** this fiscal year, despite revenue decline, primarily due to a **99.9% reduction in finance costs** Key Financial Indicators | Indicator | FY2025 (Thousand HKD) | FY2024 (Thousand HKD) | | :--- | :--- | :--- | | Revenue | 111,407 | 183,461 | | Profit/(Loss) Attributable to Owners of the Company | 16,136 | (126,785) | | Earnings/(Loss) Per Share | **7.37 HK cents** | (**70.25 HK cents**) | | Total Assets | 1,510,839 | 1,438,155 | | Net Assets Attributable to Owners of the Company | 374,701 | 121,198 | - Revenue for the current year was approximately **HKD 111.4 million**, a decrease from **HKD 183.5 million** in the prior year, primarily due to unfavorable market conditions in China[58](index=58&type=chunk)[60](index=60&type=chunk) - Finance costs significantly decreased by **99.9%** from approximately **HKD 47.4 million** in the prior year to approximately **HKD 0.06 million** in the current year, mainly due to an agreement to terminate interest payments on borrowings[63](index=63&type=chunk)[69](index=69&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=13&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) The Group's financial position significantly improved, with net current assets turning positive to **HKD 1 billion** and the current ratio increasing to **4.27 times**, alongside a reduced net gearing ratio Changes in Liquidity Indicators | Indicator | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Net Current Assets/(Liabilities) | Approx. **HKD 1 billion** | Approx. (**HKD 31 million**) | | Current Ratio | Approx. **4.27 times** | Approx. **0.98 times** | | Cash and Bank Balances | Approx. **HKD 112 million** | Approx. **HKD 179 million** | - The Group's debt-to-equity structure improved, with the net gearing ratio attributable to owners decreasing from **519.4%** to **182.9%**[57](index=57&type=chunk) - During the year, the Group acquired **100%** equity interest in Sichuan Tianfu Jinpenzi Liquor Group Co., Ltd. for **RMB 30 million** (approximately **HKD 32.1 million**) to support its premium baijiu business[80](index=80&type=chunk)[84](index=84&type=chunk) [Principal Risks and Uncertainties](index=17&type=section&id=Principal%20Risks%20and%20Uncertainties) The Group faces key risks primarily linked to its China operations, including macroeconomic uncertainties, real estate policy changes, potential pandemic resurgence, and currency fluctuation - The Group's operations are primarily located in China, thus its principal risks are closely related to China's demand, economic performance, and political environment[97](index=97&type=chunk)[101](index=101&type=chunk) - China's macroeconomic control policies on the real estate sector, such as purchase restrictions, price controls, and lending restrictions, are among the Group's primary sources of risk[99](index=99&type=chunk)[102](index=102&type=chunk) - A potential resurgence of the COVID-19 pandemic could continue to impact the economic environment, thereby affecting the Group's operations[98](index=98&type=chunk)[101](index=101&type=chunk) - As the Group's assets are primarily located in China and denominated in RMB, fluctuations in the RMB to HKD exchange rate will impact the Group[104](index=104&type=chunk)[108](index=108&type=chunk) [Future Prospects](index=15&type=section&id=Future%20Prospects) The Group plans to focus on property development, hotel operations, big health services, and premium baijiu trading in China, with key projects expected to drive future revenue and cash flow - Property Development: Phase one apartments of the key 'Golden Beach No. 1' project, affected by the pandemic, are now expected to be completed in the **second half of 2026**, with sales revenue recognized in **FY2026/2027**[88](index=88&type=chunk)[94](index=94&type=chunk) - Hotel Operations: Phase one hotel of 'Golden Beach No. 1' is expected to be completed and open in **2027**, becoming Weihai City's first international five-star hotel[89](index=89&type=chunk)[94](index=94&type=chunk) - Baijiu Business: The premium baijiu trading and development business, launched in **2023**, is expected to significantly increase the Group's cash flow and revenue[92](index=92&type=chunk)[96](index=96&type=chunk) - Big Health Business: Steadily developing since its establishment in **2020**, future plans include collaborating with property owners to transform properties into high-end health and wellness projects[91](index=91&type=chunk)[95](index=95&type=chunk) [Directors' Biographies](index=18&type=section&id=Directors'%20Biographies) This section provides detailed biographies of the company's executive and independent non-executive directors, highlighting their diverse professional backgrounds and extensive industry experience [Directors' Biographies](index=18&type=section&id=Directors'%20Biographies) This section provides detailed biographies of the company's executive and independent non-executive directors, highlighting their diverse professional backgrounds and extensive industry experience - Mr. WEI Zhenming, Chairman of the Board, **61**, possesses over **40 years** of business experience in mainland China and has operated integrated health and wellness businesses since **2020**[112](index=112&type=chunk)[115](index=115&type=chunk) - Mr. DENG Jianguo, Executive Director, **56**, has over **30 years** of experience in technology and corporate management, primarily in real estate development[113](index=113&type=chunk)[116](index=116&type=chunk) - The independent non-executive directors possess diverse professional backgrounds, including corporate management, marketing, procurement, financial management, and accounting[114](index=114&type=chunk)[117](index=117&type=chunk)[120](index=120&type=chunk) [Corporate Governance Report](index=20&type=section&id=Corporate%20Governance%20Report) This report details the company's corporate governance framework, including board structure, committee functions, risk management, and shareholder engagement practices [The Board and Committees](index=22&type=section&id=The%20Board%20and%20Committees) This section outlines the company's board structure, composition, and operational practices, detailing the roles and attendance of its five directors and three key committees - As of the reporting date, the Board comprises **five directors**, including **two executive directors** and **three independent non-executive directors**, meeting the Listing Rules' requirements for the number and proportion of independent non-executive directors[129](index=129&type=chunk) Board Meeting Attendance Record for the Year | Director Name | Meetings Attended / Eligible to Attend | | :--- | :--- | | Mr. WEI Zhenming | 16/16 | | Mr. DENG Jianguo | 8/9 | | Ms. HU Ruixuan | 9/9 | | Mr. WONG Wai Kit | 9/9 | | Ms. LO Lai Lai Samantha | 13/13 | - The Audit Committee, chaired by Ms. LO Lai Lai Samantha, comprises all independent non-executive directors and is responsible for overseeing financial reporting, risk management, and internal control systems[177](index=177&type=chunk)[179](index=179&type=chunk) - The Remuneration, Quality and Nomination Committee (RQNC), also composed of three independent non-executive directors and chaired by Ms. HU Ruixuan, is responsible for remuneration policies, director nominations, and board structure evaluation[186](index=186&type=chunk)[189](index=189&type=chunk) [Risk Management and Internal Controls](index=36&type=section&id=Risk%20Management%20and%20Internal%20Controls) The Board oversees the Group's risk management and internal control systems, confirmed as effective and adequate by management, with established procedures for handling inside information - The Board confirms its responsibility for the effectiveness of risk management and internal control systems, which were annually reviewed by the Audit and Risk Management Committee for the year ended **March 31, 2025**[213](index=213&type=chunk)[215](index=215&type=chunk)[218](index=218&type=chunk) - Management has confirmed to the Board that the risk management and internal control systems for the current year are effective and adequate[215](index=215&type=chunk)[220](index=220&type=chunk) - The Group has adopted procedures for handling and disseminating inside information, including compliance with disclosure requirements, regulating third-party communications, implementing fair disclosure policies, and strictly prohibiting unauthorized use of confidential information[220](index=220&type=chunk)[226](index=226&type=chunk) [Shareholders' Rights and Investor Relations](index=38&type=section&id=Shareholders'%20Rights%20and%20Investor%20Relations) The company upholds shareholder rights, enabling general meeting requests from **5%** voting shareholders and ensuring transparent communication through various channels, including AGMs and its website - Shareholders holding not less than **5%** of the total voting rights are entitled to request the Board to convene a general meeting[228](index=228&type=chunk)[232](index=232&type=chunk) - The company enhances communication by promptly responding to investor inquiries through general meetings, its website (http://www.crown727.com), and announcements[231](index=231&type=chunk)[234](index=234&type=chunk)[235](index=235&type=chunk) - All resolutions at general meetings are voted on by poll, with results published on the Stock Exchange and the company's website[233](index=233&type=chunk)[238](index=238&type=chunk) [Report of the Directors](index=39&type=section&id=Report%20of%20the%20Directors) This report outlines the company's principal activities, financial results, major customer and supplier concentration, and details on share capital and shareholder interests [Principal Activities and Results](index=40&type=section&id=Principal%20Activities%20and%20Results) The company primarily engages in investment holding and subsidiary management, with core businesses in property, hotel, big health, and premium baijiu, and no final dividend proposed for the year - The Group primarily engages in property investment, property development, hotel operations, big health business, and premium baijiu trading[242](index=242&type=chunk)[248](index=248&type=chunk) - The Board does not recommend the payment of a final dividend for the year ended **March 31, 2025**[243](index=243&type=chunk)[250](index=250&type=chunk) [Major Customers and Suppliers](index=41&type=section&id=Major%20Customers%20and%20Suppliers) The Group exhibits high customer and supplier concentration, with the largest customer accounting for **84.5%** of total turnover and the largest supplier for **100%** of total purchases Customer and Supplier Concentration | Item | Percentage | | :--- | :--- | | Largest Customer's Share of Total Turnover | **84.5%** | | Top Five Customers' Share of Total Turnover | **100%** | | Largest Supplier's Share of Total Purchases | **100%** | [Share Capital and Shareholders' Interests](index=41&type=section&id=Share%20Capital%20and%20Shareholders'%20Interests) This section details the company's share capital, shareholder interests, and share option scheme, noting no listed securities were bought, sold, or redeemed during the period - During the current year, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities[266](index=266&type=chunk)[268](index=268&type=chunk) Major Shareholders' Shareholding (as of March 31, 2025) | Shareholder Name | Number of Shares (shares) | Shareholding Percentage | | :--- | :--- | :--- | | CLC | 60,949,100 | **19.1%** | | China Huarong Asset Management Co., Ltd. | 100,949,100 | **31.70%** | | Redstone Association Limited | 68,698,239 | **21.61%** | | Crown International Corp. Limited | 40,000,000 | **12.50%** | - The company adopted a share option scheme on **September 25, 2015**, valid for **10 years**, to incentivize eligible participants contributing to the Group; no outstanding share options existed at the end of the reporting period[300](index=300&type=chunk)[301](index=301&type=chunk) [Environmental, Social and Governance Report](index=51&type=section&id=Environmental%2C%20Social%20and%20Governance%20Report) This report details the Group's commitment to environmental protection, social responsibility, and robust governance practices, including performance metrics and risk management [Environmental](index=60&type=section&id=Environmental) The Group prioritizes environmental protection, setting targets to reduce greenhouse gas emissions and waste intensity by **5%** by **FY2028**, while addressing climate change risks Greenhouse Gas Emissions Performance | Indicator | Unit | 2025 | 2024 | | :--- | :--- | :--- | :--- | | Scope 1 (Direct Emissions) | tonnes of CO2 equivalent | 14.49 | 9.58 | | Scope 2 (Indirect Emissions) | tonnes of CO2 equivalent | 25.32 | 18.24 | | Total GHG Emissions | tonnes of CO2 equivalent | 45.84 | 34.06 | | Emissions Intensity | tonnes of CO2 equivalent/per employee | 1.76 | 1.55 | Resource Consumption Performance | Indicator | Unit | 2025 | 2024 | | :--- | :--- | :--- | :--- | | Total Energy Consumption | MWh | 93.36 | 63.77 | | Energy Consumption Intensity | MWh/per employee | 3.59 | 2.90 | | Total Water Consumption | cubic meters | 250.00 | 241.00 | | Water Consumption Intensity | cubic meters/per employee | 9.62 | 10.95 | - The Group has set environmental targets to progressively reduce greenhouse gas emission intensity, waste disposal intensity, and energy consumption intensity by **5%** by **FY2028**, using **FY2023** as the baseline[367](index=367&type=chunk)[380](index=380&type=chunk)[390](index=390&type=chunk) - The Group has identified physical risks (e.g., extreme weather damage to properties) and transition risks (e.g., increased operating costs from stricter environmental regulations) posed by climate change and has developed response plans[409](index=409&type=chunk)[410](index=410&type=chunk) [Social](index=71&type=section&id=Social) The Group prioritizes social responsibility by fostering fair employment, ensuring a healthy work environment, prohibiting child and forced labor, managing supply chain risks, and upholding business ethics through anti-corruption policies Employee Profile (as of March 31, 2025) | Category | 2025 | 2024 | | :--- | :--- | :--- | | Total Employees | 26 | 22 | | Male | 14 | 12 | | Female | 12 | 10 | | Employee Turnover Rate | **0%** | **27.91%** | - The Group strictly adheres to labor laws, prohibiting child and forced labor, and rigorously verifies candidates' identities and ages during recruitment[443](index=443&type=chunk)[444](index=444&type=chunk) - The Group has established a supplier selection mechanism and formulated a 'Green Procurement Specification' to manage environmental and social risks within its supply chain[448](index=448&type=chunk)[450](index=450&type=chunk) - To maintain business ethics, the Group strictly prohibits all forms of corruption, fraud, and money laundering, and has established an anonymous whistleblower hotline and an independent audit team[465](index=465&type=chunk)[470](index=470&type=chunk) [Independent Auditor's Report](index=97&type=section&id=Independent%20Auditor's%20Report) This report presents the independent auditor's unmodified opinion on the Group's consolidated financial statements, highlighting key audit matters and the procedures undertaken [Independent Auditor's Report](index=97&type=section&id=Independent%20Auditor's%20Report) The independent auditor issued an unmodified opinion on the Group's financial statements, highlighting the net realizable value of properties under development for sale as a key audit matter due to its materiality and management judgment - The auditor's opinion is unmodified, stating that the consolidated financial statements fairly present the Group's financial position and performance and are properly prepared in accordance with Hong Kong Financial Reporting Standards[492](index=492&type=chunk)[494](index=494&type=chunk) - The report identifies 'net realizable value of properties under development for sale' as a key audit matter. As of **March 31, 2025**, the carrying value of these properties was approximately **HKD 717 million**[497](index=497&type=chunk)[498](index=498&type=chunk) - In response to this key audit matter, the auditor's procedures included assessing the appropriateness of management's methods, evaluating the reasonableness of key assumptions, and engaging audit experts for assistance[502](index=502&type=chunk) [Consolidated Financial Statements](index=103&type=section&id=Consolidated%20Financial%20Statements) This section presents the Group's comprehensive financial statements, including the statement of profit or loss, financial position, cash flows, and detailed explanatory notes [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=103&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This statement shows the Group's operating results, highlighting a turnaround to a **HKD 16.14 million** profit from a **HKD 127 million** loss, despite revenue decline, primarily due to reduced finance costs Consolidated Statement of Profit or Loss Summary | Item (Thousand HKD) | FY2025 | FY2024 (Restated) | | :--- | :--- | :--- | | Revenue | 111,407 | 183,461 | | Gross Profit | 31,109 | 47,323 | | Operating Profit/(Loss) | 23,459 | (68,500) | | Profit/(Loss) Before Income Tax | 23,459 | (115,762) | | Profit/(Loss) for the Year | 16,136 | (127,200) | | Profit/(Loss) Attributable to Owners of the Company | 16,136 | (126,785) | | Basic Earnings/(Loss) Per Share | **7.37 HK cents** | (**70.25 HK cents**) | [Consolidated Statement of Financial Position](index=104&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) This statement reflects the Group's improved financial position, with total assets increasing to **HKD 1.51 billion** and a significant shift from net current liabilities to **HKD 1.007 billion** in net current assets Consolidated Statement of Financial Position Summary | Item (Thousand HKD) | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Non-current Assets | 195,416 | 152,606 | | Current Assets | 1,315,423 | 1,285,549 | | **Total Assets** | **1,510,839** | **1,438,155** | | **Liabilities and Equity** | | | | Current Liabilities | 308,351 | 1,316,506 | | Non-current Liabilities | 827,787 | 451 | | **Total Liabilities** | **1,136,138** | **1,316,957** | | **Net Assets** | **374,701** | **121,198** | | **Total Equity** | **374,701** | **121,198** | [Consolidated Statement of Cash Flows](index=107&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) This statement shows a net cash decrease of **HKD 67.86 million** for the year, driven by **HKD 317 million** net cash outflow from operating activities, partially offset by financing activities Consolidated Statement of Cash Flows Summary | Item (Thousand HKD) | FY2025 | FY2024 | | :--- | :--- | :--- | | Net Cash Flows from Operating Activities | (316,757) | 270,659 | | Net Cash Flows from Investing Activities | 7,646 | (32,205) | | Net Cash Flows from Financing Activities | 241,249 | (58,980) | | **Net (Decrease)/Increase in Cash and Cash Equivalents** | (**67,862**) | **179,474** | | Cash and Cash Equivalents at Beginning of Year | 177,587 | 2,481 | | **Cash and Cash Equivalents at End of Year** | **110,731** | **177,587** | [Notes to the Consolidated Financial Statements](index=109&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes to the financial statements, highlighting premium baijiu trade as the sole revenue source, reclassification of a **HKD 800 million** loan to non-current, significant equity fundraising, and a baijiu producer acquisition - Segment reporting indicates that for the year ended **March 31, 2025**, all of the Group's **HKD 111.4 million** in external customer revenue was derived from the 'Premium Baijiu Trading and Development' segment[774](index=774&type=chunk) - A entrusted loan of approximately **HKD 807 million**, originally classified as a current liability in **2024**, was reclassified as a non-current liability in the **March 31, 2025** financial statements after an agreement with the bank on **March 28, 2025**, for repayment on **March 27, 2028**, without interest[861](index=861&type=chunk)[862](index=862&type=chunk)[863](index=863&type=chunk) - During the year, the company undertook significant equity financing activities, including a rights issue raising approximately **HKD 89.29 million** at **HKD 0.088 per share**, and a subscription for new shares raising approximately **HKD 155 million** at **HKD 0.88 per share**, followed by a **20-for-1** share consolidation[872](index=872&type=chunk)[873](index=873&type=chunk) - The Group completed the acquisition of Sichuan Tianfu Jinpenzi Liquor Group Co., Ltd. on **March 27, 2025**, for a consideration of **HKD 32.11 million**, paid through the issuance of a **three-year interest-free promissory note**[865](index=865&type=chunk)[911](index=911&type=chunk) [Financial Summary](index=196&type=section&id=Financial%20Summary) This section provides a concise overview of the Group's key financial performance and position over the past five fiscal years [Five-Year Financial Summary](index=196&type=section&id=Financial%20Summary) This section summarizes the Group's five-year financial performance, showing a turnaround to profit in **FY2025** after three years of significant losses, with total assets slightly recovering and net assets growing substantially Five-Year Performance Summary (Thousand HKD) | Fiscal Year | 2021 | 2022 | 2023 | 2024 | 2025 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | 13,866 | 17,499 | – | 183,461 | 111,407 | | Profit/(Loss) for the Year | (105,882) | (726,978) | (1,070,002) | (127,200) | 16,136 | Five-Year Assets and Liabilities Summary (Thousand HKD) | Fiscal Year | 2021 | 2022 | 2023 | 2024 | 2025 | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Assets | 3,632,759 | 2,972,705 | 1,656,507 | 1,438,155 | 1,510,839 | | Total Liabilities | (1,679,760) | (1,660,265) | (1,492,989) | (1,316,957) | (1,136,138) | | Net Assets | 1,952,999 | 1,312,440 | 163,518 | 121,198 | 374,701 |

皇 冠 環 球 集 團 有 限 公 司（「本公司」）之 董 事（「董 事」）會（「董事會」）宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至 二 零 二 五 年 三 月 三 十 一 日 止 財 年 之 經 審 核 綜 合 業 績 連 同 截 至 二 零 二 四 年 三 月 三 十 一 日 止 年 度 之 比 較 數 字。 承董事會命 皇冠環球集團有限公司 Crown International Corporation Limited （在香港註冊成立之有限公司） （股份代號：727） 截至二零二五年三月三十一日止年度之 年度業績公告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 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。 執行董事 魏振銘 香 港，二 零 二 五 年 六 月 二 十 七 日 於 本 公 告 日 期，董 事 會 由 兩 名 執 行 董 事 ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HK$17,459,000, compared to HK$0 for the same period in 2023, indicating a significant increase[13]. - Gross profit for the current interim period was HK$4,311,000, while the previous period reported no gross profit[13]. - Operating loss decreased to HK$2,057,000 from HK$7,000,000 in the last interim period, showing an improvement of approximately 70.7%[13]. - Loss before income tax was HK$2,006,000, a substantial reduction from HK$55,732,000 in the previous year[13]. - Total comprehensive income for the period was HK$4,293,000, compared to a loss of HK$79,539,000 in the last interim period[15]. - Basic and diluted loss per share improved to HK$0.06 from HK$1.54 in the last interim period[15]. - The loss attributable to owners of the Company for the period was HK$2,006,000, a substantial decrease compared to a loss of HK$55,732,000 in the prior year[4]. - Loss per share for the period was HK$0.06, a significant improvement from HK$1.54 in the previous year[199]. Assets and Liabilities - Total assets increased to HK$1,484,544,000 as of September 30, 2024, up from HK$1,438,155,000 as of March 31, 2024, representing a growth of 3.1%[17]. - Net current liabilities stood at HK$(31,956,000) as of September 30, 2024, compared to HK$(30,957,000) as of March 31, 2024, indicating a slight increase in liabilities[17]. - The company reported a comprehensive loss of HK$2,006,000 for the period, resulting in total equity attributable to owners of the Company of HK$125,491,000, up from HK$121,198,000[19]. - Cash and cash equivalents decreased to HK$166,468,000 as of September 30, 2024, from HK$177,587,000 as of March 31, 2024, reflecting a decrease of 6.3%[25]. - The company’s borrowings increased to HK$818,545,000 as of September 30, 2024, from HK$808,726,000 as of March 31, 2024, marking a rise of 1%[17]. - Total liabilities as of 30 September 2024 were HK$1,359,053,000, with segment liabilities in property development at HK$1,088,883,000[105]. - Borrowings stood at HK$818,545,000, with a net borrowings to net assets ratio of 518.6%[199]. Costs and Expenses - Staff costs decreased to HK$2,187,000 from HK$2,960,000, reflecting a reduction of approximately 26.1%[13]. - Finance costs significantly decreased to HK$8,000 from HK$48,734,000, indicating a reduction of over 99.9%[13]. - The segment loss for the six months ended 30 September 2024 was HK$2,057,000, a significant increase from a loss of HK$796,000 in the same period of 2023[93]. - For the six months ended September 30, 2024, the net finance costs were HK$51,000, a significant improvement from a net cost of HK$48,732,000 in the same period of 2023[4]. Business Segments - The principal activities of the company include property investment, property development, hotel operations, trading and developing of premium white spirit, and provision of comprehensive healthcare planning and management services[27]. - The Group's operating segments include property investment, property development, hotel operations, trading and developing of premium white spirit, and comprehensive healthcare planning and management services[39]. - The property development segment is specifically engaged in property development and sales in Weihai city[43]. - The hotel operations segment focuses on hotel rental and food and beverage services in Weihai[43]. - The trading and developing of premium white spirit segment is involved in the trading and development of premium white spirit[43]. - The comprehensive healthcare planning and management services segment provides planning and management services to healthcare operators and sells healthcare products[43]. Capital and Financing - The successful fundraising from the Rights Issue completed on November 28, 2024, is expected to provide adequate resources for the Group's operational existence in the foreseeable future[35]. - The Group has communicated with the bank to restructure loan repayment terms, allowing repayment from proceeds of pre-sales of the Weihai Project within three years starting March 28, 2024[36]. - The Group has not paid certain instalments of principal totaling HK$549,890,000 and interest payments of HK$268,655,000, which were overdue as of September 30, 2024[137]. - The outstanding loan amount owed to Harbin Bank is approximately HK$818,545,000, equivalent to RMB744,281,000, as of September 30, 2024[137]. - The Group has capital expenditure contracted for but not provided in the amount of HK$112,277,000 as of September 30, 2024[140]. Share Capital and Options - The Group's share capital as of September 30, 2024, is HK$1,998,309, with 3,532,900,000 ordinary shares issued and fully paid[138]. - The Share Option Scheme, effective from September 20, 2021, allows for the grant of share options to motivate and retain employees, with a maximum issuance of 1% of the company's shares in any 12-month period[148][149]. - A total of 102,900,000 share options were granted to employees on September 20, 2021, with an exercise price of HK$0.187 and a contractual life of 10 years[154][155]. - The fair value of the share options at the measurement date was HK$0.05839, with an expected volatility of 88.026% and a risk-free rate of 1.017%[160]. Future Developments - The Group's investment in property development includes approximately 1,400 serviced apartment units in the Weihai Property, which is 100% owned by the Group[169]. - The hotel operations project in the Weihai Property will comprise approximately 200 hotel suites, managed by a world-renowned hotel group[173]. - The construction and renovation works of the serviced apartment units are expected to be completed in the second half of 2025[184]. - The hotel complex in Weihai is expected to be completed in the second half of 2025, delayed due to COVID-19 impacts[192]. - The expected preliminary initial costs for the development of the Weihai Property will exceed RMB 1.0 billion, excluding land costs[184].

Financial Performance - The Group reported unaudited consolidated interim financial statements for the six months ended September 30, 2024, compared to the same period in 2023[14]. - Revenue for the six months ended September 30, 2024, was HK$17,459,000, compared to no revenue in the same period of 2023[16]. - Gross profit for the period was HK$4,311,000, with an operating loss of HK$2,057,000, significantly improved from an operating loss of HK$7,000,000 in 2023[16]. - Total comprehensive income for the period was HK$4,293,000, a recovery from a total comprehensive loss of HK$79,539,000 in the previous year[18]. - Loss attributable to owners of the company was HK$2,006,000, compared to a loss of HK$55,732,000 in the same period last year[18]. - Basic and diluted loss per share improved to HK$0.06 from HK$1.54 in the same period last year[18]. - The group reported segment revenue of HK$17,459,000 for the six months ended September 30, 2024, compared to a loss of HK$2,057,000 in segment results[56]. - The group incurred a loss before income tax of HK$2,006,000 for the six months ended September 30, 2024[56]. Governance and Compliance - The Board of Directors confirmed the accuracy of the information presented in the announcement, ensuring no material facts were omitted[3]. - The Group's financial data has been reviewed by the Audit Committee, ensuring compliance and accuracy[2]. - The report indicates that the Group is committed to transparency and accountability in its financial disclosures[3]. - The Group's financial statements have been prepared in accordance with Hong Kong Accounting Standards, ensuring compliance with applicable disclosure requirements[36]. Strategic Initiatives - The Company is actively engaging in strategic initiatives to enhance its market position and operational efficiency[2]. - The Group aims to expand its market presence and explore new business opportunities in the upcoming periods[2]. - The Group continues to explore market expansion opportunities and new strategies for growth[46]. Assets and Liabilities - The company's total assets increased to HK$1,484,544,000 as of September 30, 2024, up from HK$1,438,155,000 as of March 31, 2024[20]. - Current liabilities rose to HK$1,359,053,000, compared to HK$1,316,506,000 in the previous period[20]. - Net assets as of September 30, 2024, were HK$125,491,000, an increase from HK$121,198,000 as of March 31, 2024[21]. - Total liabilities as of September 30, 2024, were HK$1,359,053,000, with segment liabilities in property development at HK$1,088,883,000[108]. Cash Flow and Financing - For the six months ended September 30, 2024, the net cash used in operating activities was HK$ (7,196,000), a significant decrease compared to HK$ 177,331,000 in the same period of 2023[28]. - The net cash used in financing activities was HK$ (7,859,000), an improvement from HK$ (24,066,000) in the previous year[28]. - The total cash and cash equivalents at September 30, 2024, amounted to HK$ 166,468,000, compared to HK$ 155,694,000 at the same date in 2023, indicating a year-over-year increase of approximately 6.1%[28]. - The Group has successfully raised funds through a Rights Issue completed on November 28, 2024, which is expected to support its operational existence[38]. - The Group has communicated with the bank to restructure payment terms for outstanding loans, allowing repayment from proceeds of pre-sales of the Weihai Project within three years[38]. Segment Information - The Group's principal activities include property investment, property development, hotel operations, trading and developing of premium white spirit, and provision of comprehensive healthcare planning and management services[30]. - The Group's operating segments are managed separately, focusing on property investment, development, hotel operations, and other services, each representing a strategic business unit[42]. - The property investment segment is focused on property investment, while the property development segment is engaged in property development and sales in Weihai city[46]. - The hotel operations segment is involved in hotel rental and food and beverage services in Weihai[46]. - The trading and developing of premium white spirit segment is actively trading and developing premium white spirit products[46]. - The comprehensive healthcare planning and management services segment provides planning and management services to healthcare operators and sells healthcare products[46]. Share Capital and Options - The share capital of the Group as of September 30, 2024, is HK$1,998,309, with a total of 3,532,900,000 shares issued and fully paid[141]. - The Group has a share option scheme in place, which allows for the issuance of options not exceeding 1% of the total shares in any 12-month period[151]. - All share options granted have been exercised, with the fair value of services received measured based on the fair value of the share options granted[159][161]. Development Projects - The Group's current investment in property development includes approximately 1,400 serviced apartment units in the Weihai Property project, which is 100% owned by the Group[172][175]. - The hotel operations project within the Weihai Property consists of approximately 200 hotel suites, which are still under construction and will be managed by a world-renowned hotel group[176][178]. - The Group began trading and developing premium white spirit in 2023 under the brand Yi Pin Jiang Shan[177][179]. - The comprehensive healthcare planning and management services segment was established in the financial year 2019/20, focusing on providing services to healthcare business operators[177][180]. - The expected preliminary initial costs for the development of the Weihai Property will exceed RMB1.0 billion, excluding land costs[189]. - The main building of the Weihai Property is expected to stand approximately 149.8 metres in height, making it a landmark along the Golden Beach in Weihai[194]. - Upon completion, the hotel is expected to provide about 200 luxury suites and rooms[197].