Financial Performance - Revenue from continuing operations decreased by 8% from HKD 734.3 million in 2024 to HKD 673.3 million in 2025, primarily due to the closure of cinemas in Hong Kong, leading to a reduction in attendance [3]. - Gross profit from continuing operations fell by 8% from HKD 484.2 million in 2024 to HKD 447.5 million in 2025, maintaining a stable gross profit margin of 66% [3]. - Net profit attributable to shareholders turned from a loss of HKD 243 million in 2024 to a profit of HKD 56 million in 2025, driven by various non-recurring income sources totaling approximately HKD 191 million [3]. - The company reported a net profit of HKD 56,377 thousand for the fiscal year ending December 31, 2025, compared to a loss of HKD 242,642 thousand in the previous year [6]. - Basic earnings per share from continuing operations was HKD 2.01, a significant improvement from a loss of HKD 6.00 per share in the prior year [6]. - Total comprehensive income for the year was HKD 118,349 thousand, compared to a loss of HKD 278,206 thousand in the previous year [7]. - The total revenue for the year ending December 31, 2025, from continuing operations is HKD 705,565,000, a decrease of 9.6% compared to HKD 780,101,000 in 2024 [26]. - The total segment profit before tax for the year is HKD 60,638,000, compared to a loss of HKD 39,391,000 in the previous year [26]. - The group achieved a net profit of HKD 56.4 million for the year, recovering from a loss of HKD 242.6 million in the previous year [56]. Asset and Liability Management - The asset-to-liability ratio improved to 0% in 2025 from 8.0% in 2024, indicating a stronger financial position [3]. - Non-current assets decreased to HKD 1,423,103 thousand from HKD 1,905,656 thousand year-over-year [8]. - Current assets increased to HKD 323,066 thousand, up from HKD 211,792 thousand in the previous year [8]. - The company’s total liabilities decreased to HKD 234,586 thousand from HKD 358,857 thousand year-over-year [8]. - The net current asset position improved to HKD 88,480 thousand, compared to a negative position of HKD 147,065 thousand in the previous year [8]. - The company's total assets increased to HKD 1,288,139,000, up from HKD 1,169,790,000, reflecting a growth of approximately 10.1% [9]. - The total liabilities amounted to HKD 588,801,000, indicating a significant increase compared to the previous year's HKD 223,444,000, representing a rise of about 163.5% [9]. - The company reported a lease liability of HKD 109,200,000, which is a key component of its financial obligations [9]. Operational Changes and Strategic Focus - The company is focusing on expanding its market presence and enhancing its product offerings in the upcoming fiscal year [6]. - The company aims to transform its cinema operations into a comprehensive entertainment hub, offering various lifestyle products and events [40]. - The company believes that the global film industry is showing resilience post-pandemic, despite mixed performance across different regional markets [40]. - The group continues to diversify revenue streams by promoting independent films and establishing partnerships for e-commerce [50]. - The group plans to expand its market leadership position in Singapore through continued growth initiatives [50]. - The group is actively seeking production and investment opportunities with local and overseas film companies [52]. Revenue Sources and Segment Performance - The film exhibition business remains the primary revenue source, accounting for 92% of the group's total revenue for the year ending December 31, 2025, with a 10% decrease in revenue to HKD 649.4 million due to the cessation of operations in Hong Kong [43]. - The revenue from film exhibition in Hong Kong is HKD 50,665 thousand for 2025, down from HKD 148,215 thousand in 2024, reflecting a significant decline of about 65.9% [25]. - The revenue from the production and distribution segment in Mainland China is projected to be HKD 27,482 thousand for 2025, compared to HKD 24,824 thousand in 2024, showing an increase of approximately 10.7% [25]. - The group's film distribution and production business recorded revenue of HKD 55.6 million, a slight increase of 0.5% compared to HKD 55.3 million in the previous year [51]. Employee and Operational Costs - Employee costs for the year ending December 31, 2025, amount to HKD 91,971,000, down from HKD 107,760,000 in 2024, indicating a reduction of 14.7% [27]. - Financial costs related to bank loans are HKD 4,420,000, a decrease from HKD 22,550,000 in the previous year, reflecting a reduction of 80.4% [27]. - The total financial costs for the year amount to HKD 16,621,000, down from HKD 44,034,000 in the previous year, a decrease of 62.3% [27]. Market and Economic Conditions - The film industry faces significant challenges due to competition from streaming platforms and disruptions in the supply chain caused by strikes and wildfires [39]. - The group acknowledges significant uncertainties in the Asian economic landscape, including U.S. tariff policies and geopolitical tensions, which may increase recession risks [59]. Corporate Governance and Compliance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with local regulations [10]. - The group has established an audit committee to oversee financial reporting and internal controls, ensuring compliance with corporate governance standards [67]. - The group emphasizes the importance of good corporate governance for maintaining competitiveness and sustainable growth [65]. Miscellaneous - The group will not recommend any final dividend for the year ending December 31, 2025, similar to 2024 [62]. - The annual report for the year ending December 31, 2025, will be sent to shareholders and published on the company's website at the appropriate time [70]. - The board expresses gratitude to the management team and all employees for their efforts and contributions, as well as to shareholders, customers, and business partners for their trust and support in the company's development [71].

香港交易及結算所有限公司以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。 ORANGE SKY GOLDEN HARVEST ENTERTAINMENT (HOLDINGS) LIMITED 橙 天 嘉 禾 娛 樂（ 集 團 ）有 限 公 司* （於百慕達註冊成立之有限公司） （股份代號：1132） 正面盈利預告 * 僅供識別 – 1 – 董事會認為，截至二零二五年十二月三十一日止年度股東應佔收益淨額主要由於 以下各項的淨影響所致：(i)因終止本集團若干電影院租約，產生分別來自撥回恢 復成本撥備及租賃修改的非經常性淨收益約1,900萬港元及8,600萬港元；(ii)因出 售新加坡物業而撥回遞延稅項負債所產生的所得稅抵免3,300萬港元；(iii)非金融 資產減值虧損由截至二零二四年十二月三十一日止年度的4.42億港元，減少至截 至二零二五年十二月三十一日止年度不多於1.30億港元；(iv)於截至二零二四年十 二 月 三 十 一 日 止 年 度 出 售 本 集 團 於 合 營 ...

ORANGE SKY GOLDEN HARVEST ENTERTAINMENT (HOLDINGS) LIMITED 橙 天 嘉 禾 娛 樂（ 集 團 ）有 限 公 司* （於百慕達註冊成立之有限公司） （股份代號：1132） 董事會會議通知 橙天嘉禾娛樂（ 集團 ）有限公司（「本公司」）董事會（「董事會」）謹此宣佈，將於二零 二六年三月三十日（ 星期一 ）召開董事會會議，以商討、考慮及審批（ 其中包括 ）本 公司及其附屬公司截至二零二五年十二月三十一日止財政年度之年度業績及考慮 是否建議支付末期股息（ 如有 ）。 承董事會命 香港交易及結算所有限公司以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。 公司秘書 張希銘 香港，二零二六年三月十八日 於本公佈刊發時，本公司全體董事如下： 主席兼執行董事： 伍克波先生 執行董事： 鄒秀芳女士 伍智裕先生 彭博倫先生 獨立非執行董事： 梁民傑先生 黃斯穎女士 馮志文先生 孔敏茹女士 * 僅供識別 橙天嘉禾娛樂（集團）有限公司 ...

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 公司名稱: 橙天嘉禾娛樂（集團）有限公司 呈交日期: 2026年3月5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) | 01132 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 6,000,000,000 | HKD | | 0.1 HKD | | 600,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 6,000,000,000 | HKD | | 0.1 HKD | | 600,000,000 | 本月底法定/註冊股本總額： HKD 600,00 ...

Core Viewpoint - In January 2026, China's commercial vehicle industry experienced a 23% year-on-year growth in overall sales, with the truck market growing by 28%, indicating a strong start to the year [1][3]. Group 1: Truck Market Performance - The truck market sold a total of 323,500 units in January 2026, showing a 10% decrease from December 2025 but a 28% increase year-on-year [3]. - The light truck market, which includes light trucks, small trucks, and pickups, sold 159,500 units in January 2026, reflecting a 20% month-on-month decline and an 8% year-on-year growth [3][5]. - The light truck market's 8% year-on-year growth is significantly lower than the overall truck market's growth, making it the only segment to underperform compared to the market average [5]. Group 2: Historical Context and Market Dynamics - The January 2026 light truck sales of 159,500 units rank as the fourth highest in the past decade, with the average sales for January typically around this figure [5]. - The performance in January 2026 is considered moderate, attributed to the absence of the Spring Festival impact that affected January 2025 sales [5][16]. Group 3: Company Performance and Market Share - Five companies sold over 10,000 light trucks in January 2026, with Foton leading at 36,300 units, followed by JAC, Dongfeng, Great Wall, and Jiangling [8][9]. - The top ten companies in the light truck market accounted for 88.4% of total sales, with the top five companies alone holding 62.7% of the market share [8]. - Among the top ten companies, eight experienced sales growth compared to the previous year, with Dongfeng and Farizon showing significant increases of 61% and 91%, respectively [12][14]. Group 4: Market Outlook - The light truck market in 2026 is expected to be competitive, with various companies vying for market share and performance improvements [16].

Market Overview - The Hong Kong stock market showed initial gains but narrowed its increase, with the Hang Seng Index closing up 0.58% above 27,000 points, while the Hang Seng China Enterprises Index and Hang Seng Tech Index rose by 0.81% and 0.62% respectively [1][2]. Sector Performance - Technology stocks rebounded, driven by AI application stocks, with the stock of Reading Group surging over 15%. The film and entertainment sector remained active, and the biopharmaceutical sector saw widespread gains, led by Fuhong Hanlin [3][4]. - New consumption concept stocks, paper industry stocks, home appliance stocks, shipping stocks, and automotive stocks mostly increased. Conversely, education stocks faced declines, with gaming stocks collectively sluggish, and real estate, gas, electric, and telecom stocks also underperformed [3][4]. Notable Stocks - AI application stocks saw significant gains, with Reading Group rising 15.41%, and Zhiyun up 14.81%, reaching a new historical high during the session. Other stocks like Fubo Group and Yidu Technology also experienced increases [6][8]. - In the film sector, Orange Sky Entertainment rose over 7%, with other companies like Damai Entertainment and Ningmeng Film also following suit [10]. - The biopharmaceutical sector was buoyed by Fuhong Hanlin's increase of over 7%, with other companies like WuXi Biologics and WuXi AppTec also seeing gains [12]. Industry Insights - The real estate sector faced pressure, with Shimao Group dropping over 6% amid ongoing sales challenges in the industry. Major real estate companies are reportedly initiating organizational restructuring [13][14]. - Education stocks struggled, with Guangzheng Education falling over 5%, alongside declines in New Oriental and other educational institutions [15]. Investment Outlook - According to Everbright Securities, the current liquidity environment in the Hong Kong stock market is entering an observation period, with limited space for further tightening. Positive catalysts could lead to a recovery in market sentiment and capital inflow [22].

Core Viewpoint - In 2025, the "Light Truck First Influence Index" for nine major domestic light truck brands showed a total score of 17,701, a decrease of 7.3% compared to 2024, primarily due to the reduction in the number of companies from ten to nine, while the average score still indicated growth [1][4]. Group 1: Brand Rankings and Scores - Jianghuai 1 Card ranked first with a score of 3,861, holding a significant lead with a score share of 21.81% [2][6]. - Dongfeng Light Truck ranked second with a score of 2,727, improving its position by one rank and increasing its score share by 2.82 percentage points to 15.41% [14][15]. - Jiefang Light Truck ranked third with a score of 2,660, achieving a score share of 15.03%, an increase of 2.18 percentage points from the previous year [17]. - China National Heavy Duty Truck HOWO ranked fourth with a score of 2,291, also moving up one position with a score share of 12.94%, an increase of 1.24 percentage points [19]. - Remote Light Commercial Vehicle entered the top five for the first time with a score of 1,720, achieving a score share of 9.72% [22][25]. - Qingling Light Truck ranked sixth with a score of 1,421, improving its rank by two positions with a score share of 8.03% [27]. - Foton Aoling ranked seventh with a score of 1,334, showing a slight increase in score share to 7.54% [31]. - Jiangling Light Truck ranked eighth with a score of 1,104, achieving a score share of 6.24% [31]. - Yutong Light Truck ranked ninth with a score of 583, with a score share of 3.29% [33]. Group 2: Key Events and Innovations - Jianghuai 1 Card launched several new products in 2025, including the Kunkun ET9, showcasing its strong R&D capabilities [10][12]. - Dongfeng Light Truck held a global new product and technology promotion conference, launching new strategic vehicles and enhancing its service brand [16][17]. - Jiefang Light Truck focused on customer rewards and launched several promotional activities, including a significant order of 500 electric light trucks [17][20]. - China National Heavy Duty Truck HOWO introduced new products and held a "Energy-saving King" challenge to promote its light trucks [19][20]. - Remote Light Commercial Vehicle emphasized its "alcohol-hydrogen + electric" technology and launched multiple new products, securing significant orders [22][25]. - Qingling Light Truck hosted an innovation development conference and launched several new products, focusing on multi-technology paths [27][29].

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1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: 橙天嘉禾娛樂（集團）有限公司 呈交日期: 2026年2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) | 01132 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 6,000,000,000 | HKD | | 0.1 | HKD | | 600,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 6,000,000,000 | HKD | | 0.1 | HKD | | 600,000,000 | 本月底法定/ ...

Core Viewpoint - The company, Orange Sky Golden Harvest Entertainment (01132), announced the resignation of co-CEO Mao Yimin, effective from February 1, 2026, due to his desire to focus more on personal matters [1]. Group 1 - Mao Yimin has submitted his resignation as co-CEO of the company [1]. - The resignation will take effect on February 1, 2026 [1]. - The reason for the resignation is Mao's wish to dedicate more time to personal affairs [1].

Core Viewpoint - Orange Sky Golden Harvest (01132) announced the resignation of Mr. Mao Yimin as Co-CEO, effective from February 1, 2026, due to his desire to devote more time to personal matters [1]. Group 1 - Mr. Mao Yimin has submitted his resignation as Co-CEO of the company [1]. - The resignation will take effect on February 1, 2026 [1]. - The reason for the resignation is Mr. Mao's wish to focus more on his personal affairs [1].