此乃要件 請即處理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下之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。 閣下如已將名下之皇冠環球集團有限公司證券全部售出或轉讓，應立即將本通函連同隨附之代表委任表格送交買主或承 讓人，或送交經手買賣或轉讓之銀行、股票經紀或其他代理人，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。本通函 僅供參考，並不構成收購、購買或認購本公司證券之邀請或要約。 Crown International Corporation Limited （在香港註冊成立之有限公司） （股份代號：727） (I)建議按於記錄日期 每持有一(1)股股份獲發三(3)股 供股股份的基準以非包銷基準進行供股； 及 (II)股東特別大會通告 獨立財務顧問 本封面頁所用詞彙與本通函所界定者具有相同涵義。 董事會函件載於本通函第8至25頁。獨立董事委員會函件（當中載有其致獨立股東之推薦建議） ...

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11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12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 | 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 (-) | | | | | | | | ...

Core Viewpoint - Crown Global Group (00727) reported a significant decline in its interim performance for the period ending September 30, 2025, with a revenue of HKD 8.342 million, representing a year-on-year decrease of 52.22% [1] Financial Performance - The company recorded a loss attributable to shareholders of HKD 33.751 million, which is an increase of 1582.5% compared to the previous year [1] - Basic loss per share was reported at HKD 0.1061 [1]

Group 1 - The company reported a revenue of HKD 8.342 million for the interim period ending September 30, 2025, representing a year-on-year decrease of 52.22% [1] - The loss attributable to the company's owners widened to HKD 33.751 million, an increase of 1582.5% compared to the previous year [1] - The basic loss per share was HKD 0.1061 [1]

Crown International Corporation Limited 皇冠環球集團有限公司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） (Stock Code 股份代號: 727) N OT IF IC ATI ON LET TE R 通 知 信 函 Dear Non-registered Shareholder(Note 1) , Crown International Corporation Limited (the "Company") 本公司的本次公司通訊文件的中、英文版本已上載於本公司網站 http://www.crown727.com 及香港交易及結算所有限公司網站（「香港交易所網站」） www.hkexnews.hk（「網站版本」），本公司建議 閣下閱覽本公司本次及日後公司通訊( 附 註 2)的網站版本。 如 閣下欲收取本次公司通訊文件之印刷本，請填妥在本函背面的申請表格，並使用隨附之郵寄標籤經寶德隆證券登記有限公司（「香港股份過戶 登記處」）寄回本公司 (如在香港投寄，毋須貼上郵票；否則，請貼上適 ...

Group 1 - The company reported a revenue of HKD 8.342 million for the six months ending September 30, 2025, representing a year-on-year decrease of 52.22% [1] - The loss attributable to shareholders for the period was HKD 33.751 million, compared to a loss of HKD 2.006 million in the same period last year [1] - The basic loss per share was HKD 0.1061 [1] Group 2 - The company's main business segments include property investment, property development, hotel operations, health management planning, premium liquor trade, and management services [2] - The key property development project, the Jinhai Beach No. 1 Phase I residential apartments in Weihai, Shandong Province, is still in pre-sale, with completion now estimated for the second half of 2026 due to COVID-19 impacts [2] - The company plans to develop two residential buildings in Qianhai, Shenzhen, with a total construction area of approximately 71,000 square meters [2] - The hotel segment, part of the Jinhai Beach No. 1 Phase I project, is also under construction and is expected to open in the second half of 2027, becoming a landmark and the first international five-star hotel in Weihai [2] - The financial advisory services business remains dormant due to the global economic downturn, with management closely monitoring market conditions to adjust business direction [2] - The health management planning service has been steadily developing since its launch in 2020, focusing on providing planning, research, establishment, training, and operational management services for health care operators [2] - The company is working on transforming property projects into high-end health care projects in collaboration with owners, leveraging partnerships with insurance companies and financial institutions for capital operations [2]

Crown International Corporation Limited 皇冠環球集團有限公司 (Incorporated in Hong Kong with limited liability) （於香港註冊成立的有限公司） (Stock Code 股份代號: 727) N OT IF IC ATI ON LET TE R 通 知 信 函 28 November 2025 Dear Registered Shareholder, Crown International Corporation Limited (the "Company") – Notice of Publication of Interim Report 2025/2026 (the "Current Corporate Communication(s)") The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at http://www.crow ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HK$8,342,000, a decrease of 52.3% compared to HK$17,459,000 for the same period in 2024[11] - Gross profit for the current interim period was HK$1,631,000, down 62.1% from HK$4,311,000 in the previous year[11] - Operating loss increased significantly to HK$33,727,000 from HK$2,057,000, reflecting a substantial decline in profitability[11] - Loss for the period was HK$33,751,000, compared to a loss of HK$2,006,000 in the prior year, indicating a worsening financial position[12] - Total comprehensive loss for the period amounted to HK$54,150,000, contrasting with a comprehensive income of HK$4,293,000 in the previous year[12] - Basic and diluted loss per share for the current period was HK$10.61, compared to HK$1.11 in the previous year[12] - The Group reported a loss before income tax of HK$33,751,000 for the six months ended 30 September 2025, compared to a loss of HK$2,006,000 for the same period in 2024[49] - The Group recorded a loss attributable to owners of the Company of approximately HK$33.7 million for the Current Interim Period, compared to a loss of approximately HK$2.0 million for the Last Interim Period[129] Asset and Liability Management - Total assets decreased from HK$1,510,839,000 as of March 31, 2025, to HK$1,460,938,000 as of September 30, 2025, representing a decline of approximately 3.3%[13] - Current liabilities decreased from HK$308,351,000 to HK$296,713,000, a reduction of about 3.8%[13] - Net current assets decreased from HK$1,007,072,000 to HK$898,243,000, indicating a decline of approximately 10.8%[13] - Non-current liabilities increased from HK$827,787,000 to HK$843,674,000, reflecting an increase of about 1.9%[14] - Total liabilities as of 30 September 2025 were HK$1,140,387,000, unchanged from HK$1,136,138,000 as of 31 March 2025[39] - The total equity decreased from HK$374,701,000 to HK$320,551,000, a decline of approximately 14.4%[14] Operational Costs - Staff costs rose to HK$3,807,000, an increase of 74.1% from HK$2,187,000 in the last interim period[11] - Other operating expenses increased to HK$7,498,000 from HK$3,486,000, reflecting higher operational costs[11] - Interest expenses for the six months ended 30 September 2025 were HK$5,000, down from HK$8,000 for the same period in 2024[42] - The net debt gearing ratio as of 30 September 2025 was approximately 249.0%, up from approximately 182.9% as of 31 March 2025[135] Segment Performance - For the six months ended September 30, 2025, the Group reported segment revenue of HK$8,342,000 from external customers, a decrease of 52.3% compared to HK$17,459,000 for the same period in 2024[32][33] - The Group's segment results for the six months ended September 30, 2025, showed a loss of HK$33,727,000, compared to a loss of HK$2,057,000 for the same period in 2024, indicating a significant decline in performance[32][33] - 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[27][30] Cash Flow and Investments - Cash and cash equivalents decreased significantly from HK$110,731,000 at March 31, 2025, to HK$13,651,000 at September 30, 2025, a drop of approximately 87.7%[17] - Net cash used in operating activities was HK$1,165,000 for the six months ended September 30, 2025, compared to HK$7,196,000 for the same period in 2024[17] - As of September 30, 2025, the Group had total employee costs of approximately HK$3.81 million, an increase from approximately HK$2.19 million in the last interim period[145] - The Group did not hold any significant investments, consistent with the previous period[144] Corporate Governance - The Company has complied with the Corporate Governance Code throughout the Current Interim Period, except for the separation of the roles of chairman and chief executive officer[167] - The audit committee consists of independent non-executive directors with relevant business, legal, engineering, and financial experience to review financial statements[172] - The interim unaudited results for the period have been reviewed by the audit committee, which did not disagree with the accounting treatment adopted by the company[172] - The report is issued by the executive director Wei Zhenming on November 28, 2025, indicating ongoing corporate governance practices[173] Future Projects and Developments - The Group plans to develop a land in Qianhai, Shenzhen, into two residential towers with a gross floor area of approximately 71,000 sq.m.[148] - The hotel operations project in the Weihai Property includes approximately 200 hotel suites, managed by a world-renowned hotel group, with construction expected to be completed in the second half of 2025[91][117] - The hotel is expected to achieve a 5-star international standard, targeting high-end business and leisure travelers[118] - The estimated initial costs for the development of the Weihai Property are expected to exceed RMB1.0 billion, excluding land costs[106] - The Group's property development includes approximately 1,400 serviced apartment units in Weihai, Shandong province, which is 100% owned by the Group[87]

Financial Performance - Revenue for the six months ended September 30, 2025, was HK$8,342,000, a decrease of 52.3% compared to HK$17,459,000 for the same period in 2024[15] - Gross profit for the current interim period was HK$1,631,000, down 62.1% from HK$4,311,000 in the previous year[15] - Operating loss increased significantly to HK$33,727,000, compared to an operating loss of HK$2,057,000 in the same period last year, reflecting a deterioration in operational performance[15] - Loss for the period was HK$33,751,000, compared to a loss of HK$2,006,000 for the same period in 2024, indicating a substantial increase in net losses[15] - For the six months ended September 30, 2025, the total comprehensive loss was HK$54,150,000, compared to a comprehensive income of HK$4,293,000 for the same period in 2024, indicating a significant decline[16] - The loss attributable to owners of the Company for the period was HK$33,751,000, compared to a loss of HK$2,006,000 in the previous year, reflecting a worsening financial performance[16] - The company reported finance income of HK$3,000 for the six months ended 30 September 2025, down from HK$59,000 in the previous year, reflecting a decrease of 94.6%[46] - The finance (costs)/income, net for the six months ended 30 September 2025 was reported at HK$(2,000), a significant decline from HK$51,000 in 2024[46] - The basic loss per ordinary share for the six months ended September 30, 2025, was HK$10.61, compared to HK$1.11 for the same period in 2024, reflecting a substantial decline in earnings per share[53] Operating Expenses - Staff costs rose to HK$3,807,000, up 74.0% from HK$2,187,000 in the previous year, contributing to the overall increase in operating expenses[15] - Other operating expenses increased to HK$7,498,000, compared to HK$3,486,000 in the prior year, reflecting higher operational costs[15] - The Group's total employee remuneration and staff costs for the current interim period were approximately HK$3.81 million, an increase from approximately HK$2.19 million in the last interim period[149][151] - Other operating expenses increased by approximately 115% to HK$7.5 million for the Current Interim Period, attributed to higher expenses in premium white spirit trading[131] Assets and Liabilities - Total assets decreased to HK$1,460,938,000 as of September 30, 2025, down from HK$1,510,839,000 as of March 31, 2025, showing a reduction of approximately 3.3%[17] - Current liabilities decreased slightly to HK$296,713,000 from HK$308,351,000, resulting in a net current asset value of HK$898,243,000[17] - Cash and cash equivalents at September 30, 2025, were HK$13,651,000, a significant decrease from HK$110,731,000 at March 31, 2025, indicating a cash reduction of approximately 87.7%[21] - The total liabilities as of 30 September 2025 were HK$1,140,387,000, which is a slight increase from HK$1,136,138,000 as of 31 March 2025[43] - The Group's net current assets were approximately HK$898.2 million as of September 30, 2025, down from approximately HK$1,007.1 million as of March 31, 2025, with a current ratio of approximately 4.03 compared to 4.27[137][139] - The net debt gearing ratio increased to approximately 249.0% as of September 30, 2025, from approximately 182.9% as of March 31, 2025[139][141] Segment Information - For the six months ended September 30, 2025, the Group reported segment revenue from external customers of HK$8,342,000[36] - The Group incurred a segment loss before income tax of HK$33,729,000 for the same period[36] - 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[31] - The property development segment is engaged in property development and sales in Weihai and Shenzhen Qianhai[34] - The hotel operations segment focuses on hotel rental and food and beverage business in Weihai[34] - The trading and developing of premium white spirit segment is involved in trading and developing premium white spirit[34] - The comprehensive healthcare planning and management services segment provides services to healthcare operators and sells healthcare products[34] Future Outlook and Strategic Initiatives - The company has not provided specific guidance for future performance or strategic initiatives in the current report[15] - The company plans to develop a land in Qianhai, Shenzhen into two residential towers with a gross floor area of approximately 71,000 square meters, starting late 2025[92] - The Group anticipates sufficient financing for the Weihai Property through cash flow from pre-sales, loan facilities, contractor financing, and other capital arrangements[113] - The Group's key project, the Jin Haidan No. 1 residential apartments in Weihai, Shandong, is currently in pre-sale and is expected to complete in the second half of 2026 due to delays caused by the COVID-19 pandemic[153] Corporate Governance - The Group is committed to high standards of corporate governance and has complied with the Corporate Governance Code throughout the Current Interim Period, except for the separation of the roles of chairman and chief executive officer[171] - The Audit Committee, comprising independent non-executive Directors, reviewed the unaudited interim results for the Current Interim Period and had no disagreement with the accounting treatment adopted by the Company[175] Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year where no dividend was declared[55] - The Share Option Scheme allows for the issuance of up to 12,005,000 shares, representing 3.7% of the issued shares as of the interim report date[162] - The maximum number of shares that can be issued upon the exercise of share options in any 12-month period is limited to 1% of the issued share capital[162] - The Company did not redeem any of its shares listed on the Stock Exchange during the Current Interim Period, nor did it or any of its subsidiaries purchase or sell any shares[169]

Core Viewpoint - Crown Global Group (00727) anticipates a significant increase in shareholder attributable comprehensive losses for the period ending September 30, 2025, projected to be between HKD 32 million and HKD 36 million, compared to a loss of approximately HKD 2 million for the period ending September 30, 2024 [1] Financial Performance - The expected comprehensive loss for the upcoming period is primarily attributed to operational and marketing expenses related to premium liquor trading, which increased from HKD 0 in the previous reporting period to HKD 8 million in the current reporting period [1] - Additionally, the comprehensive loss for the current reporting period includes recognized impairment losses [1]