公司名稱: 米蘭站控股有限公司 呈交日期: 2025年11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) | 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 | 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10月31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 80, ...

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: 米蘭站控股有限公司 呈交日期: 2025年10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 ...

MILAN STATION HOLDINGS LIMITED 米蘭站控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock code 股份代號: 1150) N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear Non-registered holders, Milan Station Holdings Limited (the "Company") – Notice of Publication of Interim Report 2025 (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the website of The Stock Exchange of ...

米蘭站控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock code 股份代號: 1150) MILAN STATION HOLDINGS LIMITED N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear Registered Shareholders, 19 September 2025 Milan Station Holdings Limited (the "Company") – Notice of Publication of Interim Report 2025 (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the website of The ...

Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 50,057,000, a decrease of 20.7% compared to HKD 63,159,000 in the same period of 2024[9] - Gross profit increased to HKD 5,743,000, up 41.7% from HKD 4,054,000 year-on-year[9] - Operating loss narrowed to HKD 10,199,000, compared to a loss of HKD 20,780,000 in the previous year, reflecting a 50.9% improvement[9] - Loss before tax was HKD 10,894,000, down 49.3% from HKD 21,521,000 in the same period last year[9] - Total comprehensive loss for the period was HKD 11,024,000, compared to HKD 21,205,000 in 2024, indicating a 48.0% reduction[11] - Basic and diluted loss per share improved to HKD 1.04 from HKD 2.44 year-on-year, a 57.3% reduction in loss per share[9] - The net loss for the period was approximately HKD 11.0 million, a reduction of 48.8% compared to the previous year, primarily due to a decrease in fair value losses on financial assets[58] - The group reported a pre-tax loss of HKD 11,023,000 for the six months ended June 30, 2025, compared to a loss of HKD 21,521,000 in the same period of 2024[36] Assets and Liabilities - Non-current assets increased to HKD 10,973,000 as of June 30, 2025, compared to HKD 7,580,000 at the end of 2024[13] - Current assets decreased to HKD 81,980,000 from HKD 96,117,000 at the end of 2024, a decline of 14.7%[13] - Total liabilities decreased to HKD 31,741,000 from HKD 31,461,000, showing a slight increase of 0.9%[13] - Net assets decreased to HKD 61,212,000 from HKD 72,236,000, reflecting a decline of 15.3%[13] - The total equity attributable to the owners of the company decreased to HKD 61,212,000 as of June 30, 2025, from HKD 72,236,000 at the beginning of the year, a decline of approximately 15%[16] Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2025, was HKD 5,277,000, an increase from HKD 3,402,000 in the same period of 2024, representing a growth of approximately 55%[21] - The net cash flow used in investing activities for the same period was HKD (1,196,000), compared to HKD (233,000) in 2024, indicating an increase in investment expenditures[21] - The net cash flow used in financing activities was HKD (5,888,000) for the six months ended June 30, 2025, up from HKD (4,640,000) in 2024, reflecting increased financing costs[21] - The cash and cash equivalents at the end of the period were HKD 9,447,000, an increase from HKD 9,098,000 at the end of June 2024, indicating a positive cash position[21] Revenue Breakdown - Sales of handbags contributed HKD 49,657,000 to revenue, down 20.6% from HKD 62,558,000 in the previous year[28] - Sales from the handbag category accounted for over 99.2% of total revenue, with self-generated sales from unsold products decreasing from approximately HKD 47.6 million (75.3% of total revenue) to about HKD 37.1 million (74.1% of total revenue)[61] Expenses - The group incurred employee benefits expenses of HKD 3,793,000, down 21% from HKD 4,807,000 in the previous year[31] - Selling expenses for the period were approximately HKD 8.0 million, accounting for 15.9% of revenue, compared to 15.8% in the previous year[73] - Administrative and other operating expenses were approximately HKD 6.8 million, representing 13.6% of revenue, a slight decrease from the previous year[74] Inventory and Trade Receivables - Trade receivables at the end of the reporting period were HKD 2,731,000, a decrease from HKD 3,129,000 as of December 31, 2024[44] - Total inventory as of June 30, 2025, was approximately HKD 30.3 million, down from HKD 37.8 million as of December 31, 2024[67] - The group’s trade payables at the end of the reporting period were HKD 602,000, a significant decrease from HKD 1,989,000 as of December 31, 2024[47] Corporate Governance - The company has established an Audit Committee consisting of three independent non-executive directors, which reviewed the financial statements for the six months ending June 30, 2025[100] - The Remuneration Committee, also comprising three members, is responsible for setting and reviewing the remuneration policies for directors and senior management[101] - The Nomination Committee is formed by three members, primarily independent non-executive directors, overseeing the nomination process[102] - The Board confirmed the effectiveness of the risk management and internal control systems, ensuring they are designed to reduce operational risks to acceptable levels[104] - No complaints or concerns regarding financial misconduct were reported by employees during the review period[105] - The company has a formal whistleblowing policy to encourage employees to raise concerns responsibly without fear of retaliation[105] Future Outlook - The outlook indicates that local consumer sentiment may improve due to government initiatives, but uncertainties such as rising unemployment and geopolitical tensions could impact future consumption[86] - The group plans to adopt a more prudent business policy to navigate unprecedented challenges while maintaining its leading position in the luxury goods sector[86]

Summary of Key Points Core Viewpoint - As of September 4, 60 stocks reached their 52-week highs, indicating a positive market trend with notable performances from specific companies such as Gaoshan Enterprises, Milan Station, and Yongyi International [1]. Group 1: 52-Week Highs - Gaoshan Enterprises (00616) achieved a closing price of 0.350 with a peak of 0.370, marking a high rate of 60.87% [1]. - Milan Station (01150) closed at 0.340, reaching a high of 0.360, with a high rate of 44.00% [1]. - Yongyi International (01218) had a closing price of 3.830 and a peak of 4.100, resulting in a high rate of 17.14% [1]. - Other notable stocks include: - Cheng Tian Jia He (01132) with a high rate of 16.49% [1]. - San Ye Cao Biotechnology - B (02197) with a high rate of 16.46% [1]. - Capital Financial Holdings (08239) with a high rate of 16.28% [1]. Group 2: 52-Week Lows - Wanma Holdings (02935) reached a low of 0.034, reflecting a decline of 25.00% [2]. - Rongyang Industrial (02078) had a closing price of 0.160, with a low of 0.069, indicating a drop of 15.85% [2]. - Energy International Investment (00353) closed at 0.295, reaching a low of 0.275, down by 12.70% [2]. - Other significant declines include: - Qianli Holdings (08367) with a drop of 12.00% [2]. - Yunkang Group (02325) with a decline of 10.71% [2]. - Wanwei International (00167) down by 7.41% [2].

Group 1 - Milan Station (01150) saw a significant stock increase of over 40%, with a current rise of 43.48% to HKD 0.33 and a trading volume of HKD 12.3385 million [1] - The company reported its mid-year results for 2025, showing revenue of HKD 50.057 million, a year-on-year decline of 20.7%; gross profit of HKD 5.743 million, an increase of 41.7% year-on-year; and a net loss of HKD 11.023 million, which narrowed by 48.8% year-on-year [1] - The reduction in net loss was primarily attributed to a decrease in losses from the fair value changes of financial assets measured at fair value through profit or loss [1] Group 2 - According to the Ministry of Commerce, retail service revenue grew by 5.2% year-on-year from January to July this year, with an increasing share of service consumption [1] - The Ministry of Commerce plans to introduce several policy measures in September to expand service consumption, utilizing fiscal and financial tools to optimize and enhance service supply capacity, thereby stimulating new growth in service consumption [1]

Group 1 - Milan Station (01150) saw a significant increase in stock price, rising over 40% to 0.33 HKD, with a trading volume of 12.34 million HKD [1] - The company reported a mid-year performance for 2025, with revenue of 50.06 million HKD, a year-on-year decrease of 20.7% [1] - Gross profit was reported at 5.74 million HKD, reflecting a year-on-year increase of 41.7% [1] - The net loss narrowed to 11.02 million HKD, a reduction of 48.8% compared to the previous year, primarily due to a decrease in losses from fair value changes of financial assets [1] Group 2 - According to the Ministry of Commerce, retail service revenue grew by 5.2% year-on-year from January to July this year, with an increasing share of service consumption [1] - The Ministry of Commerce plans to introduce several policy measures in September to expand service consumption, utilizing fiscal and financial tools to enhance service supply capacity and stimulate new growth in service consumption [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: 米蘭站控股有限公司 呈交日期: 2025年9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) | 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 80,00 ...

Group 1 - The company reported a revenue of HKD 50.057 million for the first half of 2025, representing a year-on-year decline of 20.7% [1] - The net loss for the period was HKD 11.023 million, which narrowed by 48.8% compared to the previous year [1] - The basic loss per share was HKD 0.0104 [1] Group 2 - The reduction in net loss was primarily due to a decrease in losses from the fair value changes of financial assets measured at fair value through profit or loss [1]