Group 1: Coal and Aluminum Industry - Shenhua Co., Ltd. (000933.SZ) - The aluminum segment has seen a rise in both volume and price, which offsets the decline in coal prices, highlighting the company's high dividend value [7][8] - In 2025, the company achieved a revenue of 41.241 billion yuan, a year-on-year increase of 7.47%, while the net profit attributable to shareholders was 4.005 billion yuan, a decrease of 7.00% [7] - The company plans to distribute a cash dividend of 8.00 yuan per 10 shares, totaling 1.787 billion yuan, which represents 51.0% of the net profit attributable to shareholders [9] Group 2: Food and Beverage Industry - New Dairy Industry (002946.SZ) - In 2025, the company reported a revenue of 11.23 billion yuan, a year-on-year increase of 5.3%, and a net profit of 731 million yuan, up 36.0% [11][12] - The company has adjusted its net profit forecasts for 2026 and 2027 to 865 million and 975 million yuan, respectively, with an EPS of 1.00 and 1.13 yuan [12][13] - The company plans to distribute a cash dividend of 3.8 yuan per 10 shares, resulting in a cumulative dividend rate of 53% for 2025 [12] Group 3: Pharmaceutical Industry - WuXi AppTec (603259.SH) - In 2025, the company achieved a revenue of 45.456 billion yuan, a year-on-year increase of 15.8%, and a net profit of 19.151 billion yuan, up 102.7% [16][19] - The adjusted net profit margin reached 32.9%, an increase of 5.9 percentage points year-on-year [16] - The company expects to achieve a revenue of 51.3 to 53.0 billion yuan in 2026, with a focus on accelerating its CRDMO core strategy [19] Group 4: Technology Industry - Mingyuan Cloud (00909.HK) - The company reported a revenue of 1.284 billion yuan in 2025, a year-on-year decline of 10.5%, but the adjusted net profit turned positive at 101 million yuan [22] - The company has adjusted its revenue forecast for 2026 and 2027 to 1.22 billion and 1.21 billion yuan, respectively [21][22] - The AI and overseas business segments are expected to provide significant growth opportunities despite current pressures in the real estate market [21] Group 5: Textile and Light Industry - Leshu (02698.HK) - The company achieved a revenue of 567 million USD in 2025, a year-on-year increase of 24.9%, and a net profit of approximately 121 million USD, up 27.4% [26][27] - The company has raised its net profit forecasts for 2026 and 2027 to 142 million and 165 million USD, respectively [27] - The company continues to optimize its product structure and expand its market presence, particularly in high-margin categories [28] Group 6: Pharmaceutical Industry - China Resources Jiangzhong (600750.SH) - The company reported a revenue of 4.220 billion yuan in 2025, a year-on-year decrease of 4.87%, while the net profit increased by 15.03% to 907 million yuan [31] - The gross margin improved to 65.37%, an increase of 1.85 percentage points year-on-year [31][32] - The company expects to achieve net profits of 1.008 billion, 1.131 billion, and 1.242 billion yuan for 2026, 2027, and 2028, respectively [31][33] Group 7: Banking Industry - CITIC Bank (601998.SH) - The bank achieved a revenue of 212.5 billion yuan in 2025, a year-on-year decline of 0.55%, with a net interest margin of 1.63% [36][37] - The bank's net profit for Q4 2025 was 17.227 billion yuan, a year-on-year increase of 2.85% [36] - The bank plans to increase its cash dividend to 21.2 billion yuan, representing 31.75% of the net profit attributable to ordinary shareholders, marking a historical high [38] Group 8: Retail and Service Industry - Laopu Gold (06181.HK) - The company reported a revenue of 27.303 billion yuan in 2025, a year-on-year increase of 221.0%, and a net profit of 4.868 billion yuan, up 230.5% [40][41] - The company expects to achieve a revenue of 16.5 to 17.5 billion yuan in Q1 2026, with a net profit of 3.6 to 3.8 billion yuan [40] - The company is focusing on product innovation and channel optimization to enhance brand positioning and market presence [41]

Summary of the Conference Call for Mingyuan Cloud Company Overview - **Company**: Mingyuan Cloud - **Year**: 2025 Key Points Financial Performance - Achieved a turnaround to profitability in 2025 with a reported profit of 30 million and an adjusted net profit of 100 million, representing a net profit margin of approximately 8% [2][3] - Overall revenue decreased by 10.5%, but the decline rate has significantly narrowed compared to previous years [3] - Management, R&D, and marketing expenses were reduced by 31%, 22%, and 21% respectively, contributing to improved cost control [3] - Operating cash flow turned positive at 80 million, with cash reserves reaching 3.66 billion, supporting share buybacks and special dividends [2][3] AI Business Growth - AI business opened new marketing budget avenues, achieving 54 million in contracts in 2025, a 100% increase year-over-year [2][4] - The average contract value for AI products increased from 28,000 to 36,000 [4] - The target for total AI-related contracts in 2026 is set at 125 million [4] International Market Focus - The company is focusing on ESG energy management and asset management in overseas markets, with a 2025 contract target of 30 million and a 2026 target of 70 million [2][4] - Significant breakthroughs in markets such as Japan and Southeast Asia have been achieved, with a total overseas contract target of nearly 200 million for 2026 [4][5] Cost Efficiency and Internal Improvements - AI customer service has replaced 35% of consultations, leading to a 20%+ reduction in R&D expenses [2][10] - The company has improved asset quality, with nearly 50% of bad debt provisions for accounts receivable [2][3] Strategic Shifts - The company is strategically reducing its focus on the Tianji PaaS platform, shifting towards AI-native products [2][14] - Plans for mergers and acquisitions in 2026 will focus on overseas ESG and real estate technology targets [2][15] Shareholder Returns - The company plans to continue special dividends and stock buybacks to enhance shareholder value [2][16] Market Position and Competition - In overseas markets, the company faces limited direct competition and aims to leverage differentiated advantages rather than compete head-on with local firms [7] - The potential for growth in developed markets is significant, with a focus on integrating into local real estate technology ecosystems [7] Future Outlook - The company aims to maintain a balance between cost optimization and personnel recruitment, particularly in AI talent [10][11] - The expected signing amount for AI-related projects in 2026 is projected to be around 25 million [11] Conclusion - The company has successfully achieved its profitability goals and is optimistic about future growth, particularly in AI and international markets, despite current market undervaluation [2][17]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Ming Yuan Cloud Group Holdings Limited 明源雲集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：909） 變更聯席公司秘書 及 豁免嚴格遵守上市規則第3.28條及第8.17條 變更聯席公司秘書及授權代表 明源雲集團控股有限公司（「本公司」，連同其附屬公司及併表聯屬實體統稱「本集 團」）董事（統稱「董事」及各「董事」）會（「董事會」）宣佈，肖志淼女士（「肖女士」） 由於其工作安排原因，已提呈辭任本公司聯席公司秘書（「聯席公司秘書」）及就香 港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第3.05條而言的本 公司授權代表（「授權代表」），均自二零二六年三月十八日起生效。 董事會進一步宣佈，梁瑞冰女士（「梁女士」）已提呈辭任聯席公司秘書，自二零二 六年三月十八日起生效。 肖女士及梁女士已確認彼等與董事會之間並無意見分歧及並無任何有關彼等上述 ...

第 1 頁 共 2 頁 v 1.1.1 EF001 免責聲明 | 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 明源雲集團控股有限公司 | | 股份代號 | 00909 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 宣派特別股息 | | 公告日期 | 2026年3月18日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 其他 | | 特別股息 | | | 股息性質 | 特別股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 0.1 HKD | | 股東批准日期 | 2026年5月20日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.1 HKD | | 匯 ...

Financial Performance - The company's revenue for the year ended December 31, 2025, was RMB 1,283.99 million, a decrease of 10.5% compared to RMB 1,434.82 million in 2024[5] - Gross profit for the same period was RMB 1,006.22 million, down 8.8% from RMB 1,102.72 million in 2024[5] - The company achieved a net profit of RMB 30.34 million in 2025, marking a turnaround from a loss of RMB 189.55 million in 2024[5] - Adjusted net profit for 2025 was RMB 100.67 million, compared to a loss of RMB 43.96 million in 2024, representing a significant improvement of 329.0%[5] - Operating loss decreased by 71.3% to RMB 107.99 million in 2025 from RMB 376.28 million in 2024[5] - The overall expenses for 2025 were RMB 1,133.20 million, a decrease of 23.6% year-on-year[7] - Total revenue for the reporting period was RMB 1,284.0 million, a decrease of 10.5% year-on-year (RMB 1,434.8 million in the same period last year) [37] - Overall gross profit was RMB 1,006.2 million, a decrease of 8.8% year-on-year, with a gross margin of 78.4%, up 1.5 percentage points [41] - Operating loss for the period was RMB 108.0 million, a reduction of 71.3% compared to the previous year [46] - The company's profit before tax for the year ending December 31, 2025, was RMB 24.4 million, a turnaround from a loss of RMB 197.4 million in the same period of 2024[49] - The net profit for the year was approximately RMB 30.3 million, an increase of RMB 219.8 million from a loss of RMB 189.5 million in 2024[51] - The adjusted net profit for the year was RMB 100.7 million, compared to an adjusted loss of RMB 44.0 million in 2024, representing a 329.0% increase[54] Cash Flow and Assets - The company generated net cash inflow from operating activities of approximately RMB 80.6 million, reversing from negative cash flow in the previous year[8] - As of December 31, 2025, the total cash and cash equivalents and time deposits amounted to approximately RMB 3,533.9 million, down from RMB 4,042.4 million in 2024[56] - The current ratio as of December 31, 2025, was approximately 4.88, a decrease from 6.01 on December 31, 2024[57] - The company maintained a net cash position as of December 31, 2025, with no significant contingent liabilities reported[58][60] - Total assets as of December 31, 2025, amounted to RMB 5,109,795, a decrease from RMB 5,448,492 in 2024[71] - The company's cash and cash equivalents stood at RMB 1,664,616, down from RMB 1,945,220 in the previous year[71] - The total equity decreased to RMB 4,351,663 from RMB 4,702,886 in 2024, primarily due to accumulated losses[72] Revenue Breakdown - In 2025, cloud services revenue reached RMB 1,082.3 million, a year-on-year decline of 9.4%, accounting for 84.3% of total revenue[18] - The customer relationship management product line generated revenue of RMB 767.7 million in 2025, down 10.6% year-on-year, with the cloud customer product contributing RMB 750.5 million, a decrease of 7.5%[20] - The project construction product line recorded revenue of RMB 110.5 million in 2025, a decline of 11.0% year-on-year, with 4,635 construction sites equipped, down 11.8%[22] - The asset management and operation product line achieved revenue of RMB 104.9 million, reflecting a year-on-year growth of 5.1%[24] - The revenue from localized deployment software and services was RMB 201.6 million in 2025, down 15.9% from RMB 239.7 million in 2024[26] - The revenue from the Tianji PaaS platform was RMB 99.3 million, a year-on-year decrease of 11.6% compared to RMB 112.3 million in 2024[25] Expenses and Cost Management - Sales and marketing expenses were approximately RMB 591.4 million in 2025, a decrease of 21.9% from RMB 757.7 million in 2024[28] - General and administrative expenses were about RMB 166.9 million in 2025, down 31.6% from RMB 244.0 million in 2024[28] - Research and development expenses were approximately RMB 374.9 million in 2025, a decrease of 22.2% from RMB 482.1 million in 2024[28] - The company did not capitalize any research and development expenses for the years ended December 31, 2025, and 2024[93] Market and Strategic Initiatives - The real estate market in China showed signs of stabilization, with a cumulative sales area of 880 million square meters, down 8.7% year-on-year, and a sales value of RMB 8.4 trillion, down 12.6%[9] - The global real estate technology market reached USD 40.19 billion in 2025, with a projected compound annual growth rate of 11.9% to USD 104.57 billion by 2034[13] - The company plans to leverage its expertise in domestic real estate digitalization to accelerate overseas business development in response to the growing demand for digital solutions in developed markets[14] - The company plans to accelerate the development of asset management products in Hong Kong as a base for entering other developed markets[33] - The company aims to enter a 3 to 5-year accelerated growth phase for its overseas business, having established local teams in multiple countries[33] - The company aims to enhance its presence in developed markets, particularly Japan, by strengthening the ecosystem for the "A Smart" product and expanding into markets like Hong Kong, Singapore, and Australia[32] Corporate Governance and Social Responsibility - The company has adopted the corporate governance code as a basis for its governance practices, ensuring compliance with all relevant principles and provisions for the year ending December 31, 2025[118] - The company has established a public welfare brand, "Yuan Public Welfare," focusing on education and rural revitalization, and has donated RMB 100,000 to support approximately 8,000 students in rural education initiatives[120] - The company has been recognized with the 21st Century Vitality ESG Social Responsibility Case Award for its commitment to social responsibility and sustainable public welfare practices[119] - The audit committee has reviewed the company's accounting principles and policies, ensuring compliance with applicable accounting standards and regulations[116] Shareholder Information - A special dividend of HKD 0.1 per share (approximately RMB 0.088) has been proposed, pending shareholder approval[100] - The company plans to pay a special dividend of HKD 0.1 per share, subject to shareholder approval, amounting to approximately RMB 167.98 million[111] - The company will suspend share transfer registration from May 15, 2026, to May 20, 2026, to determine eligibility for attending the annual general meeting[113] - The company will also suspend share transfer registration from May 27, 2026, to June 1, 2026, for shareholders eligible to receive the proposed special dividend[114]

董事會召開日期 明源雲集團控股有限公司（「本公司」，連同其附屬公司及併表聯屬實體，統稱「本 集團」）董事（「董事」）會（「董事會」）謹此宣佈，本公司將於二零二六年三月十八 日（星期三）舉行董事會會議，藉以（其中包括）批准本集團截至二零二五年十二月 三十一日止經審核年度業績以供發佈，及考慮派發末期股息（如有）。 承董事會命 明源雲集團控股有限公司 董事長 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。 Ming Yuan Cloud Group Holdings Limited 明源雲集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：909） 高宇 中國深圳市，二零二六年三月六日 於本公告日期，董事會包括執行董事高宇先生、姜海洋先生及陳曉暉先生；非執 行董事梁國智先生；以及獨立非執行董事李漢輝先生、趙亮先生及溫紅梅女士。 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 本月底法定/註冊股本總額： HKD 380,000 第 1 頁 共 10 頁 v 1.2.0 公司名稱: 明源雲集團控股有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2026年3月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00909 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,800,000,000 | HKD | | 0.0001 | HKD | | 380,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | ...

Core Viewpoint - Mingyuan Cloud (00909.HK) announced the cancellation of 10.037 million repurchased shares on February 12, 2026 [1] Group 1 - The company has completed the cancellation of shares as part of its share repurchase program [1]

Group 1 - The company Mingyuan Cloud (00909) announced the cancellation of 10.037 million shares that have been repurchased, effective on February 12, 2026 [1]

Group 1 - The company Mingyuan Cloud (00909) announced the cancellation of 10.037 million shares that were repurchased, effective on February 12, 2026 [1]