Financial Performance - For the fiscal year ending December 31, 2025, the revenue was approximately HKD 125.3 million, an increase of 12.0% compared to approximately HKD 111.9 million for the fiscal year ending December 31, 2024[2] - The gross profit for the fiscal year ending December 31, 2025, was approximately HKD 11.9 million, representing a significant increase of about 43.4% from approximately HKD 8.3 million in the previous year[2] - The profit attributable to the owners of the company improved from a loss of approximately HKD 26.4 million for the fiscal year ending December 31, 2024, to a profit of approximately HKD 1.5 million for the fiscal year ending December 31, 2025[2] - The total comprehensive income for the year was approximately HKD 970,000, a recovery from a loss of approximately HKD 26.3 million in the previous year[4] - Basic and diluted earnings per share for the fiscal year ending December 31, 2025, was HKD 0.14, compared to a loss per share of HKD 2.74 in the previous year[4] - The net loss for the reporting year decreased by approximately HKD 27.9 million to a net profit of about HKD 1.5 million, primarily due to fair value gains on financial assets and reduced impairment losses[38] Expenses and Costs - The sales expenses decreased to approximately HKD 15.6 million, down 27.8% from approximately HKD 21.6 million for the fiscal year ending December 31, 2024[2] - The cost of goods sold for the year was HKD 113,335,000, up from HKD 103,549,000 in 2024, reflecting an increase of approximately 9%[22] - The group’s total employee costs, including directors' remuneration, amounted to HKD 8,003,000 in 2025, down from HKD 9,557,000 in 2024, indicating a reduction of approximately 16%[22] - Selling expenses were approximately HKD 15.6 million, accounting for 12.5% of total revenue, down from 19.3% in the previous year[59] - Administrative and other operating expenses decreased to approximately HKD 11.7 million, representing about 9% of total revenue[60] Assets and Liabilities - Non-current assets increased to approximately HKD 10.3 million from HKD 7.6 million in the previous year[5] - Current assets rose to approximately HKD 102.0 million, compared to HKD 96.1 million in the previous year[5] - The total liabilities increased to approximately HKD 25.8 million from HKD 19.5 million in the previous year[6] - The company's equity attributable to owners was approximately HKD 73.2 million, slightly up from HKD 72.2 million in the previous year[6] - Trade receivables increased to HKD 8,962 thousand in 2025 from HKD 3,129 thousand in 2024, with expected credit loss provisions rising from HKD 947 thousand to HKD 1,620 thousand[28] - Trade payables decreased to HKD 599 thousand in 2025 from HKD 1,989 thousand in 2024[33] Investments and Financial Assets - The group reported a fair value gain on financial assets of HKD 15,732,000 for 2025, compared to HKD 7,785,000 in 2024, indicating a significant increase of about 102%[21] - The company held financial assets at fair value through profit or loss amounting to HKD 57.4 million as of December 31, 2025, with fair value gains recognized at approximately HKD 15.7 million[39] - The group has a total loan receivable amount of HKD 2.9 million, with an annual interest rate of 8%, and the top five receivables account for 94.2% of the total[45] - The expected credit loss provision for receivables is approximately HKD 10.3 million, a decrease from HKD 11.0 million in 2024, primarily due to debt repayments received from several borrowers[49] - The group adopts a passive investment strategy and maintains a diversified investment portfolio to reduce risk[43] Business Operations - The group’s operational focus remains on retailing handbags and fashion accessories, with no further segments reported due to the singular nature of its business[17] - Handbags accounted for over 98.7% of total revenue, with sales from unused products generating approximately HKD 96.6 million, representing about 77.1% of total revenue[51] - The luxury goods sector in Hong Kong showed a stable growth of 1.9% to 3.6%, outperforming the overall market growth of about 1%[36] Corporate Governance and Compliance - The audit committee consists of three independent non-executive directors and has reviewed the financial statements for the reporting year[71] - The company has adhered to all applicable corporate governance code provisions during the reporting year, except for a minor deviation regarding the notice period for board meetings[74] - The company has maintained a policy of conducting transactions primarily in HKD and RMB without any foreign exchange hedging arrangements[66] Future Outlook - The group is currently assessing the impact of the new Hong Kong Financial Reporting Standard 18 on its financial statements, particularly regarding the structure of the income statement and cash flow statement[15] - The group expects that the application of new accounting standards will not have a significant impact on the consolidated financial statements for the foreseeable future[15] - The anticipated economic recovery is supported by government promotional activities aimed at stimulating local consumption and improving business sentiment[50] - The group expects local consumption to rebound further due to anticipated interest rate cuts and the narrowing price gap between Hong Kong and Europe for luxury goods[50] - The management will adopt a more prudent business policy to navigate unprecedented challenges in the market[50] Shareholder Information - The group did not declare or recommend any dividends for the year ended December 31, 2025, consistent with 2024[25] - The board has decided not to declare a final dividend for the reporting year[77] - The company completed a placement of 176,150,000 new shares at a price of HKD 0.08 per share, raising approximately HKD 13.7 million for general working capital[73] Miscellaneous - There have been no significant events after the reporting year up to the date of this announcement[78] - The annual report will be published on the company's website and the Hong Kong Stock Exchange website by the end of April 2026[79]

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依賴該等內容而引致之任何損失承擔任何責任。 MILAN STATION HOLDINGS LIMITED 米蘭站控股有限公 司 胡博 本公司正落實本集團截至二零二五年十二月三十一日止年度之業績。本公佈所載 資料僅基於董事會對本集團截至二零二五年十二月三十一日止年度之未經審核管 理賬目所作出之初步評估，惟未經本公司核數師或審核委員會審核或審閱。 有關本集團財務業績及表現之進一步詳情將在預期於二零二六年三月底前作出公 佈之本公司截至二零二五年十二月三十一日止年度之業績公佈中披露。 1 股東及有意投資者在買賣本公司股份時務請審慎行事。 承董事會命 米蘭站控股有限公司 董事 （於開曼群島註冊成立的有限公司） （股份代號：1150） 正面盈利預告 本公佈乃由米蘭站控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根 據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2) 條及香港法例 第571章證券及期貨條例（「證券及期貨條例」）第XI ...

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 部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 MILAN STATION HOLDINGS LIMITED 3.推遲董事會會議 本公佈由米蘭站控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2) 條及香港法例第 571章證券及期貨條例（「證券及期貨條例」）第XIVA部之內幕消息條文而作出。 茲提述本公司日期為二零二六年三月十三日的公佈，內容有關訂於二零二六年三 月二十五日（星期三）舉行董事會會議，以（其中包括）批准本公司及其附屬公司截 至二零二五年十二月三十一日止年度（「二零二五財年」）之全年業績（「二零二五 年全年業績」）公佈，及考慮宣派末期股息（如有）。 延遲刊發二零二五年全年業績 董事會謹此知會本公司股東（「股東」），根據本公司目前可得資料，本公司之獨立 估值師尚未能完成其就二零二五財年的估值工作。本公司正與其核數師及獨立估 值師緊密合作，並將在切實可行的情況下儘快完 ...

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 部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 MILAN STATION HOLDINGS LIMITED 執行董事 胡博 香港，二零二六年三月十七日 於本公佈刊發日期，董事會成員包括執行董事胡博先生及季桂苹女士；及獨立非 執行董事陳志鴻先生、杜健存先生及蔡錦因先生。 變更香港主要營業地點 米蘭站控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司於香港之 主要營業地點已變更至香港荔枝角青山道489-491號香港工業中心A 座3樓A9室， 自二零二六年三月十七日起生效。 承董事會命 米蘭站控股有限公司 米蘭站控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：1150） ...

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 部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 米蘭站控股有限公司 執行董事 胡博 香港，二零二六年三月十三日 （於開曼群島註冊成立的有限公司） （股份代號：1150） 董事會召開日期 米蘭站控股有限公司（「本公司」）董事會（「董事會」）謹此公佈，本公司訂於二零 二六年三月二十五日（星期三）舉行董事會會議，以（其中包括）批准本公司及其 附屬公司截至二零二五年十二月三十一日止年度之全年業績公佈，及考慮宣派末 期股息（如有）。 承董事會命 MILAN STATION HOLDINGS LIMITED 米蘭站控股有限公 司 於本公佈刊發日期，董事會成員包括執行董事胡博先生及季桂苹女士；及獨立非 執行董事陳志鴻先生、杜健存先生及蔡錦因先生。 ...

致：香港交易及結算所有限公司 公司名稱: 米蘭站控股有限公司 呈交日期: 2026年3月4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) | 01150 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.04 HKD | | | 80,000,000 | | 增加 / 減少 (-) | | | | 0 | | HKD | | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.04 HKD | | | 80,000,000 | 本月底法定/註冊股本總額： HKD 80,000,000 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 ...

公司名稱: 米蘭站控股有限公司 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1月31日 狀態: 新提交 致：香港交易及結算所有限公司 呈交日期: 2026年2月4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) | 01150 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.04 | HKD | | 80,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.04 | HKD | | 80,000,000 | 本月底法定 ...

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12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: 米蘭站控股有限公司 呈交日期: 2026年1月6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) | 01150 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.04 HKD | | 80,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.04 HKD | | 80,000,000 | 本月底法定/註冊股本總額： HKD 80,0 ...

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 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 公司名稱: 米蘭站控股有限公司 呈交日期: 2025年12月4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) | 01150 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.04 | HKD | | 80,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.04 | HKD | | 80,000,000 | 本月底 ...

Group 1 - The International Skating Union Speed Skating Youth World Cup will be held in Milan, Italy, from November 29 to 30, 2025-2026 season, where athletes from Inner Mongolia performed excellently, winning 1 gold and 1 silver for the national team [1][3] - Athlete Pan Baoshuo achieved remarkable results, winning gold in the men's mass start event with a time of 5 minutes 25.39 seconds, showcasing the explosive power and mental strength of youth competitors [3] - In the men's team pursuit event, Pan Baoshuo, along with teammates Lu Jincheng and Zhou Xuanyu, secured a silver medal with a time of 3 minutes 56.14 seconds, while Pan also placed eighth in the 1500 meters event [3] Group 2 - The Chinese youth speed skating team achieved a total of 2 gold, 4 silver, and 5 bronze medals at this competition [3]