瑩嵐集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1162） 2025年股東週年大會代表委任表格 | 本人╱吾等 | （附註1） | | | | | --- | --- | --- | --- | --- | | 地址為 | | | 為瑩嵐集團 | | | | 有 限 公 司（「本公司」）股 本 中 每 股 面 值0.01港元股份 | | （附註2） 股 | 的持有人， | | （附註3） 茲委任 | | 地址為 | 或 | （附註4） | 2025年股東週年大會（「大會」）主席為本人╱吾等的受委代表，代表本人╱吾等出席本公司謹訂於2025年9月12日（星期五）下午二時半假座香港皇后大道中15 號置地廣場告羅士打大廈9樓901-903、907-910室舉行大會（及其任何續會），以考慮並酌情通過大會通告所載的普通及特別決議案，並於大會（及其任何續 會）上代表本人╱吾等以本人╱吾等的名義按下列指示就決議案投票。 除另有界定外，本公司日期為2025年7月31日的通函所界定詞彙應與本代表委任表格所用者具有相同涵義。 | | 普通決議案 | （附註5） 贊 成 | （附註5） 反 對 | | --- | ...

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 閣下的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。 閣下如已出售或轉讓 名 下 所 有 瑩 嵐 集 團 有 限 公 司（「本公司」）的 股 份，應 立 即 將 本 通 函 及 隨 附 的 代表委任表格送交買主或承讓人或經手買賣或轉讓的銀行、股票經紀或其他代理商，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。 LUMINA GROUP LIMITED （股份代號：1162） 建 議 (1)採納經審核綜合財務報表 以及董事會及核數師報告、 (2)重選退任董事、 (3)續聘核數師、 (4)發行股份及購回股份的 一般授權以及擴大授權、 (5)採納第四次經修訂及重訂之 組織章程大綱及章程細則 及 2025年股東週年大會通告 本公司謹訂於2025年9月12日（星期五）下午二時半假座香港皇后大道中15號置地廣場告羅士打大 廈9樓90 ...

目錄 | 公司資料 | 2 | | --- | --- | | 主席報告 | 3 | | 管理層討論及分析 | 4 | | 企業管治報告 | 11 | | 環境 、社會 及管治報告 | 26 | | 董事及高級管理層履歷詳情 | 57 | | 董事會報告 | 60 | | 獨立核數師報告 | 69 | | 綜合損益及其他全面收益表 | 76 | | 綜合財務狀況表 | 77 | | 綜合權益變動表 | 78 | | 綜合現金流量表 | 79 | | 綜合財務報表附註 | 80 | | 財務概要 | 140 | 公司資料 董事會 執行董事 霍厚輝先生 （主席兼行政總裁） 宋聖恩先生 韋菊女士（於2024年8月2日獲委任） 獨立非執行董事 熊健生先生 李彥昇先生 温隽軍先生 公司秘書 胡嘉兒女士（於2024年12月13日辭任） 陳思雅女士（於2024年12月13日獲委任） 合規主任 霍厚輝先生 授權代表 霍厚輝先生 胡嘉兒女士（於2024年12月13日辭任） 陳思雅女士（於2024年12月13日獲委任） 審核委員會 李彥昇先生 （主席） 熊健生先生 温隽軍先生 薪酬委員會 熊健生先生 （主席） 宋聖恩先生 温隽軍 ...

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，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 LUMINA GROUP LIMITED 承董事會命 瑩嵐集團有限公司 主席兼行政總裁 建議修訂第三次經修訂及重訂組織章程大綱及章程細則及 採納第四次經修訂及重訂組織章程大綱及章程細則 本公告乃瑩嵐集團有限公司（「本公司」）根據香港聯合交易所有限公司證券上市規則 （「上市規則」）第13.51(1)條而作出。 本公司董事（「董事」）會（「董事會」）建議修訂本公司第三次經修訂及重訂組織章程大綱 及章程細則（「現有組織章程大綱及細則」）以及採納第四份經修訂及重訂組織章程大綱及 章程細則（「新組織章程大綱及細則」），以取代及摒除現有組織章程大綱及細則。 作出建議修訂之目的為(i)令本公司能遵守有關混合會議、電子投票及上市發行人以電子 方式發放公司通訊的最新監管規定，以及上市規則的相關修訂；(ii)令本公司能以庫存股 份形式持有回購股份；及(iii)作出若干內務修訂（「建議修訂」）。 –1– 建議修訂及建議採納新組 ...

（於開曼群島註冊成立的有限公司） （股份代號：1162） LUMINA GROUP LIMITED 瑩嵐集團有限公司 除 非 本 文 件 另 有 規 定，否 則 本 公 司 章 程（經 不 時 修 訂）中 關 於 規 範 會 議 及 議 事 程序的規定應適用於委員會的會議和議事程序。 – 2 – （「本公司」） 提名委員會－職權範圍 於2025年7月18日 經 本 公 司 董 事 會（「董事會」）批 准。 1 成 員 – 1 – 1.1 提 名 委 員 會（「委員會」）須 由 董 事 會 不 時 委 任 的 最 少 三 名 董 事 組 成。委 員 會大部分成員須為本公司獨立非執行董事。董事會應委任至少一名不同 性別的董事至委員會。 1.2 委 員 會 主 席 須 由 董 事 會 委 任，並 為 董 事 會 主 席 或 本 公 司 獨 立 非 執 行 董 事。 1.3 委員會成員之任期應由董事會釐定。經董事會通過，委員會成員之委任 可予撤銷、或額外成員可獲委任加入委員會。倘該委員會成員不再為董 事會的成員，該成員的委任將自動撤銷。 1.4 除獲委員會另行委任者外，公司秘書為委員會秘書，倘公司秘書缺席會 議，則由 ...

（股份代號：1162） 董事名單與其角色及職能 自2025年7月18日生效，瑩嵐集團有限公司董事會（「董事會」）成員載列如下。 LUMINA GROUP LIMITED 瑩嵐集團有限公司 （於開曼群島註冊成立的有限公司） 執行董事 霍厚輝先生 （主席及行政總裁） 宋聖恩先生 韋菊女士 獨立非執行董事 | | | 董事委員會 | | | | --- | --- | --- | --- | --- | | 董事 | 審核委員會 薪酬委員會 | 提名委員會 | 風險及 技術委員會 | 環境、社會及 管治委員會 | | | | | （附註） | （附註） | | 霍厚輝先生 | – – | 主席 | – | 成員 | | 宋聖恩先生 | – 成員 | – | 成員 | – | | 韋菊女士 | – – | 成員 | – | – | | 熊健生先生 | 成員 主席 | 成員 | – | 主席 | | 李彥昇先生 | 主席 – | 成員 | – | – | | 温隽軍先生 | 成員 成員 | 成員 | 主席 | – | 附註： 加上一位高級管理層，彼並非董事會成員。 香港，2025年7月18日 熊健生先生 李彥昇先生 温 ...

[Consolidated Performance Overview](index=1&type=section&id=%E7%B6%9C%E5%90%88%E6%A5%AD%E7%B8%BE%E6%A6%82%E8%A6%BD) The group's revenue decreased by 30.3% to 32,417 thousand HKD, while gross profit significantly increased by 66.7% to 6,685 thousand HKD, leading to a narrowed loss for the year [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the year ended March 31, 2025, the Group's revenue decreased by 30.3% to 32,417 thousand HKD, but gross profit significantly increased by 66.7% to 6,685 thousand HKD, with the loss for the year narrowing by 31.6% to 20,360 thousand HKD Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 32,417 | 46,489 | -30.3% | | Direct Costs | (25,732) | (42,477) | -39.4% | | Gross Profit | 6,685 | 4,012 | +66.7% | | Other Income | 858 | 1,161 | -26.1% | | Other Gains and Losses | (6,809) | (1,698) | +300.9% | | Net Reversal (Provision) for Expected Credit Losses | 1,658 | (2,413) | N/A | | Administrative Expenses | (22,706) | (30,005) | -24.3% | | Finance Costs | (151) | (231) | -34.6% | | Loss Before Tax | (20,360) | (29,232) | -30.3% | | Loss for the Year | (20,360) | (29,790) | -31.6% | | Loss for the Year Attributable to Owners of the Company | (13,628) | (29,790) | -54.3% | | Basic Loss Per Share (HK cents) | (2.27) | (4.97) | -54.3% | [Consolidated Statement of Financial Position](index=3&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of March 31, 2025, the Group's non-current assets significantly decreased by 76.7% to 3,306 thousand HKD, primarily due to the derecognition of film rights, advances to non-controlling shareholders, and prepaid film production costs, while net assets decreased by 24.4% to 63,259 thousand HKD Key Data from Consolidated Statement of Financial Position | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | | **ASSETS** | | | | | Non-current assets | 3,306 | 14,182 | -76.7% | | Current assets | 67,757 | 81,188 | -16.6% | | **LIABILITIES** | | | | | Current liabilities | 6,814 | 9,028 | -24.5% | | Non-current liabilities | 990 | 2,709 | -63.4% | | **EQUITY** | | | | | Net Assets | 63,259 | 83,633 | -24.4% | | Equity Attributable to Owners of the Company | 70,069 | 83,633 | -16.2% | | Non-controlling interests | (6,810) | – | N/A | [Notes to the Consolidated Financial Statements](index=5&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) This section provides detailed explanations and disclosures regarding the Group's accounting policies, financial performance, and position, including segment information and financial instrument details [General Information](index=5&type=section&id=%E4%B8%80%E8%88%AC%E8%B3%87%E6%96%99) The company was incorporated in the Cayman Islands and its shares were transferred from GEM to the Main Board of the Stock Exchange on April 20, 2020, with principal businesses in Hong Kong fire safety services and China short video and animation production - The Company was incorporated in the Cayman Islands on July 7, 2016, and its shares were transferred from GEM to the Main Board of the Stock Exchange on April 20, 2020[7](index=7&type=chunk) - The Group's principal businesses include providing fire safety services in Hong Kong and engaging in short video and animation production in China[7](index=7&type=chunk) [Application of New and Revised Hong Kong Financial Reporting Standards](index=5&type=section&id=%E6%87%89%E7%94%A8%E6%96%B0%E8%A8%82%E5%8F%8A%E7%B6%93%E4%BF%AE%E8%A8%82%E9%A6%99%E6%B8%AF%E8%B2%A1%E5%8B%99%E5%A0%B1%E5%91%8A%E6%BA%96%E5%89%87%E6%9C%83%E8%A8%88%E6%BA%96%E5%89%87) Several new and revised Hong Kong Financial Reporting Standards were first applied this year, but they had no material impact on the Group's financial position, performance, or disclosures - This year, new and revised accounting standards such as HKFRS 16 (Revised), HKAS 1 (Revised), HKAS 7, and HKFRS 7 (Revised) were applied for the first time[9](index=9&type=chunk) - The application of these new standards had **no material impact** on the Group's financial position and performance for the current and prior years[9](index=9&type=chunk) [New and Revised Hong Kong Financial Reporting Standards Issued But Not Yet Effective](index=6&type=section&id=%E5%B7%B2%E9%A0%92%E4%BD%88%E4%BD%86%E5%B0%9A%E6%9C%AA%E7%94%9F%E6%95%88%E7%9A%84%E6%96%B0%E8%A8%82%E5%8F%8A%E7%B6%93%E4%BF%AE%E8%A8%82%E9%A6%99%E6%B8%AF%E8%B2%A1%E5%8B%99%E5%A0%B1%E5%91%8A%E6%BA%96%E5%89%87%E6%9C%83%E8%A8%88%E6%BA%96%E5%89%87) The Group has not early adopted several new and revised Hong Kong Financial Reporting Standards issued but not yet effective, with HKFRS 18 expected to impact the presentation and disclosure of future financial statements - The Group has not early adopted several new and revised Hong Kong Financial Reporting Standards issued but not yet effective, including those related to financial instruments, asset sales, and financial statement presentation[10](index=10&type=chunk) - HKFRS 18 'Presentation and Disclosure in Financial Statements' will be effective for annual periods beginning on or after January 1, 2027, and is expected to impact the presentation and disclosure of the statement of profit or loss in future financial statements[11](index=11&type=chunk) [Revenue](index=7&type=section&id=%E6%94%B6%E7%9B%8A) Total revenue for the year was 32,417 thousand HKD, a 30.3% year-on-year decrease, with fire safety system installation services remaining the primary source of income despite a 34.0% decline, and short video and animation production contributing 511 thousand HKD in licensing revenue for the first time Revenue Breakdown | Service Type | 2025 (thousand HKD) | 2024 (thousand HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Fire safety system installation | 23,970 | 36,349 | -34.0% | | Maintenance and repair | 7,936 | 10,140 | -21.7% | | Licensing income from short video and animation production | 511 | – | N/A | | **Total** | **32,417** | **46,489** | **-30.3%** | Transaction Price Allocated to Remaining Performance Obligations from Customer Contracts (Fire Safety System Installation Services) | Expected Timing of Revenue Recognition | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Within one year | 59,454 | 39,693 | | After one year but within two years | 22,297 | 18,120 | | More than two years | 6,833 | 13,230 | | **Total** | **88,584** | **71,043** | [Segment Information](index=8&type=section&id=%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group's operating segments include fire safety system installation services, maintenance and repair services, and the new short video and animation production segment, with fire safety services being profitable while the new segment recorded a loss, and Hong Kong remaining the primary revenue source - The Group's operating and reportable segments are: (i) fire safety system installation services; (ii) maintenance and repair services; and (iii) short video and animation production[14](index=14&type=chunk) - For the year ended March 31, 2025, the short video and animation production segment recorded a **loss of 13,757 thousand HKD**, while the fire safety system installation services and maintenance and repair services segments recorded profits[15](index=15&type=chunk) Geographical Information: Revenue from External Customers | Region | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Hong Kong | 31,906 | 46,489 | | China | 511 | – | | **Total** | **32,417** | **46,489** | Geographical Information: Non-current Assets | Region | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Hong Kong | 1,498 | 7,495 | | China | 1,420 | 6,299 | | **Total** | **2,918** | **13,794** | - In 2025, Customer A contributed **3,895 thousand HKD** in revenue, accounting for **over 10%** of total revenue; in 2024, Customer B and Customer C contributed **10,812 thousand HKD** and **4,979 thousand HKD** in revenue respectively, both accounting for **over 10%** of total revenue[20](index=20&type=chunk) [Other Income](index=11&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E5%85%A5) Total other income for the year was 858 thousand HKD, a 26.1% year-on-year decrease, primarily due to reduced bank interest income and government grants Other Income Details | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Bank interest income | 735 | 963 | | Dividend income from financial assets at fair value through profit or loss | 58 | 64 | | Government grants | 3 | 134 | | Others | 62 | – | | **Total** | **858** | **1,161** | - Government grants in 2025 primarily originated from in-service training subsidies for employees provided by local governments in China, while in 2024, they were from the Hong Kong Government's Reimbursement of Maternity Leave Pay Scheme and Youth Employment and Training Programme[22](index=22&type=chunk) [Other Gains and Losses](index=11&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A%E5%8F%8A%E虧%E6%90%8D) Other gains and losses for the year recorded a 6,809 thousand HKD loss, a significant increase from the prior year, mainly due to impairment losses on prepayments and film rights Other Gains and Losses Details | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Loss on lease modification | (110) | – | | Net (loss) gain on disposal of property and equipment | (270) | 110 | | Impairment loss on prepayments | (4,941) | – | | Impairment loss on film rights | (1,488) | – | | Impairment loss on property and equipment | – | (910) | | Impairment loss on right-of-use assets | – | (898) | | **Total** | **(6,809)** | **(1,698)** | [Loss Before Tax and Income Tax Expense](index=12&type=section&id=%E9%99%A4%E7%A8%85%E5%89%8D%E虧%E6%90%8D%E5%8F%8A%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) The loss before tax for the year was 20,360 thousand HKD, with total staff costs of 12,610 thousand HKD, and no income tax expense was provided as neither Hong Kong nor China entities had taxable profits Key Components of Loss Before Tax | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Total staff costs | 12,610 | 21,047 | | Auditor's remuneration | 760 | 760 | | Depreciation of property and equipment | 274 | 279 | | Depreciation of right-of-use assets | 2,774 | 3,296 | | Amortisation of film rights | 2,895 | – | | Legal and professional fees | 2,932 | 3,262 | - No income tax expense was provided for the years ended March 31, 2025 and 2024, as none of the Group's entities in Hong Kong and China had taxable profits[25](index=25&type=chunk) [Dividends](index=13&type=section&id=%E8%82%A1%E6%81%AF) The Company neither paid nor declared any dividends, nor proposed any dividends for both reporting periods - The Company neither paid nor declared any dividends for both the 2025 and 2024 financial years[26](index=26&type=chunk) [Loss Per Share](index=13&type=section&id=%E6%AF%8F%E8%82%A1%E虧%E6%90%8D) For the year ended March 31, 2025, the basic loss per share attributable to owners of the Company narrowed to 2.27 HK cents, compared to 4.97 HK cents in the prior year Loss Per Share | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Loss for the year attributable to owners of the Company (thousand HKD) | (13,628) | (29,790) | | Weighted average number of ordinary shares (thousand shares) | 600,000 | 600,000 | | Basic loss per share (HK cents) | (2.27) | (4.97) | - No diluted loss per share is presented for either year as there were no potential ordinary shares in issue[27](index=27&type=chunk) [Financial Assets at Fair Value Through Profit or Loss](index=13&type=section&id=%E6%8C%89%E5%85%AC%E5%B9%B3%E5%80%BC%E8%A8%88%E5%85%A5%E6%90%8D%E7%9B%8A%E4%B9%8B%E9%87%91%E8%9E%8D%E8%B3%87%E7%94%A2) As of March 31, 2025, the Group held 2,676 thousand HKD in financial assets at fair value through profit or loss, primarily equity securities listed in Hong Kong, with no pledges Financial Assets at Fair Value Through Profit or Loss | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Equity securities listed in Hong Kong, held for trading | 2,676 | 2,571 | - Fair values are based on quoted market prices for the respective securities in active markets for identical assets[27](index=27&type=chunk) - As at March 31, 2025, **no financial assets** at fair value through profit or loss were pledged as collateral[28](index=28&type=chunk) [Trade Receivables](index=14&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E6%AC%BE%E9%A0%85) As of March 31, 2025, total trade receivables amounted to 3,760 thousand HKD, a significant 56.6% decrease year-on-year, with a corresponding reduction in credit loss provisions Total Trade Receivables and Credit Loss Provisions | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Trade receivables arising from fire safety system installation services and maintenance and repair services | 8,203 | 15,026 | | Less: Provision for credit losses | (4,443) | (6,365) | | **Total trade receivables** | **3,760** | **8,661** | Ageing Analysis of Trade Receivables | Ageing | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | 0 to 30 days | 489 | 1,159 | | 31 to 60 days | 305 | 913 | | 61 to 90 days | 632 | 2,386 | | 91 to 180 days | 650 | 564 | | 181 to 365 days | 170 | 1,092 | | Over 365 days | 1,514 | 2,547 | | **Total** | **3,760** | **8,661** | [Contract Assets](index=14&type=section&id=%E5%90%88%E7%B4%84%E8%B3%87%E7%94%A2) As of March 31, 2025, total contract assets amounted to 32,210 thousand HKD, a 15.2% year-on-year decrease, primarily comprising unbilled revenue and retention receivables from fire safety system installation services Contract Assets Details | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Contract assets from fire safety system installation services: | | | | －Unbilled revenue | 32,057 | 38,467 | | －Retention receivables | 11,319 | 13,257 | | Contract assets from maintenance and repair services: | | | | －Unbilled revenue | – | 348 | | Less: Provision for credit losses | (11,166) | (14,053) | | **Total** | **32,210** | **38,019** | - Contract assets arise when the Group has satisfied its performance obligations and the works are pending final settlement by customers[32](index=32&type=chunk) Unbilled Retention Receivables Settled Upon Expiry of Warranty Period | Expected Settlement Timing | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Within one year | 5,791 | 6,577 | | After one year | 5,528 | 6,680 | | **Total** | **11,319** | **13,257** | [Trade Payables](index=16&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E4%BB%98%E6%AC%BE%E9%A0%85) As of March 31, 2025, total trade payables amounted to 3,027 thousand HKD, a 14.9% year-on-year decrease, with an average credit period of 30 to 60 days - The average credit period granted by subcontractors and suppliers for trade payables generally ranges from **30 to 60 days** after the issuance of invoices or application for interim payments[35](index=35&type=chunk) Ageing Analysis of Trade Payables | Ageing | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | 0 to 30 days | 2,126 | 2,441 | | 31 to 60 days | 562 | 150 | | Over 60 days | 339 | 964 | | **Total** | **3,027** | **3,555** | [Share Capital](index=16&type=section&id=%E6%9C%AC%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9C%AC) As of March 31, 2025, the Company's authorized share capital was 100,000 thousand HKD, with issued and fully paid share capital of 6,000 thousand HKD, comprising 600,000,000 ordinary shares of 0.01 HKD each Share Capital of the Company | Item | Number of Shares | Amount (thousand HKD) | | :--- | :--- | :--- | | Authorized share capital (ordinary shares of HKD0.01 each) | 10,000,000,000 | 100,000 | | Issued and fully paid share capital (ordinary shares of HKD0.01 each) | 600,000,000 | 6,000 | [Management Discussion and Analysis](index=17&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E5%8F%8A%E5%88%86%E6%9E%90) This section provides an overview of the Group's business performance, financial position, liquidity, and future outlook, along with discussions on corporate governance and compliance [Business Review and Outlook](index=17&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7%E5%8F%8A%E5%B1%95%E6%9C%9B) The Group, a Hong Kong fire safety service provider, is also exploring short video and animation production in China, and despite geopolitical uncertainties, improved gross margin and reduced net loss, with revised fire safety regulations in Hong Kong offering optimistic prospects for market consolidation and efficiency optimization - The Group primarily provides fire safety system installation and maintenance services in Hong Kong and has expanded into short video and animation production in China[39](index=39&type=chunk) - Despite the Hong Kong market being affected by geopolitical uncertainties, the Group's **gross margin increased**, and **net loss decreased**, primarily due to improved gross margin for fire safety system installation services, reversal of impairment losses, and administrative expense savings[40](index=40&type=chunk) - The Hong Kong SAR Government's revision of the Fire Safety (Buildings) Ordinance, requiring older buildings to improve fire safety, brings long-term positive impacts for the Group, with an expected increase in tender opportunities[41](index=41&type=chunk) - The Group successfully transferred its listing to the Main Board of the Stock Exchange in 2020, laying the foundation for securing more projects from large institutions[42](index=42&type=chunk) [Financial Review](index=18&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) This year saw a decrease in revenue but a significant improvement in gross profit and gross margin, coupled with reduced administrative and finance costs, leading to a substantial narrowing of the loss attributable to owners of the Company, and a reversal of impairment losses on trade receivables and contract assets - Revenue decreased by **30.3%** from approximately **46.5 million HKD** in 2024 to approximately **32.4 million HKD** in 2025, primarily due to most projects entering their final stages and new projects being in early stages[43](index=43&type=chunk)[44](index=44&type=chunk) - Direct costs decreased by **39.4%** year-on-year to approximately **25.7 million HKD**, consistent with the decrease in revenue[45](index=45&type=chunk) - Gross profit increased by **66.7%** year-on-year to approximately **6.7 million HKD**, with the overall gross margin improving from **8.6% to 20.6%**, mainly due to higher gross margins for fire safety system installation service projects[46](index=46&type=chunk) - Other income decreased year-on-year to approximately **0.9 million HKD**, primarily due to the combined effect of reduced bank interest income and government grants[47](index=47&type=chunk) - The impairment loss provision for trade receivables and contract assets changed from a **2.4 million HKD provision** in 2024 to an approximately **1.7 million HKD reversal** in 2025[48](index=48&type=chunk) - Administrative expenses decreased by **24.3%** year-on-year to approximately **22.7 million HKD**, mainly due to rental cost reductions for the China office and staff quarters[49](index=49&type=chunk) - Finance costs decreased year-on-year to approximately **151,000 HKD**, primarily consisting of interest expenses on lease liabilities[50](index=50&type=chunk) - No income tax expense provision was made for the year as the Group's entities had no taxable profits[51](index=51&type=chunk) - Loss attributable to owners of the Company decreased by **54.3%** year-on-year to approximately **13.6 million HKD**, primarily due to the allocation of losses to non-controlling interests (attributable to the China short video and animation production business)[52](index=52&type=chunk) - The Board does not recommend the payment of a final dividend for the year ended March 31, 2025[53](index=53&type=chunk) [Liquidity and Financial Resources](index=20&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90) The Group maintains a robust liquidity position with a current ratio of 9.9 times and no interest-bearing bank borrowings, employing prudent treasury policies and pledging bank deposits as security for bank facilities, with no significant foreign exchange risk Liquidity Position | Metric | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Cash and cash equivalents | 19,000 | 22,900 | | Pledged bank deposits | 5,200 | 4,900 | | Current ratio | 9.9 times | 9.0 times | - As at March 31, 2025, the Group had **no interest-bearing bank borrowings** or other borrowings[56](index=56&type=chunk) - The Group adopts a prudent financial management approach, continuously assessing customer credit and closely monitoring its liquidity position[57](index=57&type=chunk) - The Group has pledged bank deposits of approximately **5.2 million HKD** to a bank as security for banking facilities[58](index=58&type=chunk) - The majority of the Group's business transactions are denominated in HKD, and it is not exposed to significant foreign exchange rate fluctuation risks, nor does it have a hedging policy[59](index=59&type=chunk) - The Group's capital structure has remained unchanged since its transfer to the Main Board listing in 2020, with equity comprising solely ordinary shares[60](index=60&type=chunk) [Future Plans for Material Investments and Capital Assets](index=22&type=section&id=%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E7%94%A2%E7%9A%84%E6%9C%AA%E4%BE%86%E8%A8%88%E5%8A%83) Capital commitments for the year have been reduced to zero, and the Group currently holds no material equity investments nor has any definite future plans for acquiring material investments and capital assets Capital Commitments | Item | 2025 (thousand HKD) | 2024 (thousand HKD) | | :--- | :--- | :--- | | Capital expenditure contracted for but not provided in the consolidated financial statements – intangible assets | – | 80 | | Share of capital commitments jointly made with joint venture partners but not recognised at the end of the reporting period – capital contribution commitments | – | 4,296 | | **Total** | **–** | **4,376** | - The Group does not hold any material equity interests in any other companies, and as of the date of this annual report, has **no definite future plans** for acquiring material investments and capital assets[62](index=62&type=chunk) - For the year ended March 31, 2025, the Group had **no material acquisitions and disposals** of subsidiaries[63](index=63&type=chunk) - No significant events occurred after the reporting period[64](index=64&type=chunk) [Contingent Liabilities](index=23&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5) As of March 31, 2025, the Group provided performance guarantees of approximately 5.2 million HKD to customers, which the directors believe are unlikely to result in claims - The Group provided bank performance guarantees of approximately **5.2 million HKD** (2024: 4.9 million HKD) to customers as security for fulfilling contractual obligations[65](index=65&type=chunk) - The Directors believe that it is **unlikely** that claims will be made against the Group[65](index=65&type=chunk) [Employees and Remuneration Policies](index=23&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) As of March 31, 2025, the Group employed 46 staff with total staff costs of approximately 12.6 million HKD, offering competitive remuneration, retirement benefits, medical benefits, and training subsidies, while maintaining good employee relations Number of Employees and Costs | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Number of employees | 46 employees | 44 employees | | Total staff costs (million HKD) | 12.6 | 21.0 | - The Group offers competitive remuneration packages (referencing market standards, individual performance, qualifications, and experience), bonuses, retirement benefits, medical benefits, and training course subsidies, and may grant share options[66](index=66&type=chunk) - The Directors confirm that there were **no material issues or labor disputes** between the Group and its employees, and good relationships are maintained[66](index=66&type=chunk) [Environmental Policies and Performance](index=24&type=section&id=%E7%92%B0%E5%A2%83%E6%94%BF%E7%AD%96%E5%8F%8A%E8%A1%A8%E7%8F%BE) The Group's operations comply with relevant environmental regulations in Hong Kong, and no prosecutions or penalties for non-compliance were recorded this year - The Group's operations comply with Hong Kong's environmental regulations concerning air pollution control, noise control, water pollution control, and waste disposal control[67](index=67&type=chunk) - For the year ended March 31, 2025, the Group recorded **no prosecutions or penalties** for non-compliance with applicable environmental regulations[67](index=67&type=chunk) [Compliance with Laws and Regulations](index=24&type=section&id=%E9%81%B5%E5%AE%88%E6%B3%95%E5%BE%8B%E5%8F%8A%E6%B3%95%E8%A6%8F) The Directors confirm that the Group has complied in all material respects with relevant laws and regulations significantly affecting its business and operations during the year - The Directors confirm that the Group has complied in all material respects with relevant laws and regulations for the year ended March 31, 2025[68](index=68&type=chunk) [Relationship with Customers, Suppliers and Subcontractors](index=24&type=section&id=%E8%88%87%E5%AE%A2%E6%88%B6%E3%80%81%E4%BE%9B%E6%87%89%E5%95%86%E5%8F%8A%E6%AC%A1%E6%89%BF%E5%88%A4%E5%95%86%E7%9A%84%E9%97%9C%E4%BF%82) The Group maintains a diversified customer base and long-term business relationships with key clients, implementing management policies for suppliers and subcontractors to avoid over-reliance, and encountered no significant difficulties or disputes this year - The Group has a diversified customer base, including public and private sectors, covering commercial, composite, institutional, and residential buildings[69](index=69&type=chunk) - The Group has established business relationships ranging from **1 to over 7 years** with most of its top five customers, and does not rely on a single customer source[69](index=69&type=chunk) - The Group implements background checks, regular audits, and a multi-vendor engagement policy for suppliers and subcontractors to ensure product quality and avoid over-reliance[70](index=70&type=chunk) - For the year ended March 31, 2025, the Group encountered **no significant difficulties** in procuring materials or engaging subcontractors, nor were there any **material disputes** with its top five suppliers and subcontractors[70](index=70&type=chunk) [Corporate Governance Practices](index=25&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%B8%B8%E8%A6%8F) The Company is committed to maintaining high corporate governance standards and has complied with all applicable provisions of the Listing Rules' Corporate Governance Code, except for the combined roles of Chairman and Chief Executive Officer - The Company's corporate governance practices are based on the Corporate Governance Code and Corporate Governance Report set out in Appendix C1 to the Main Board Listing Rules[71](index=71&type=chunk) - The Company has complied with all applicable provisions of the Corporate Governance Code, except for a deviation from Code Provision C.2.1 (which states that the roles of chairman and chief executive should be separate)[71](index=71&type=chunk) - Mr. Fok Hau Fai serves concurrently as the Chairman of the Board and Chief Executive Officer, an arrangement the Board believes is in the best interests of the Group, with sufficient independent elements within the Board to safeguard shareholders' interests[72](index=72&type=chunk) [Securities Transactions by Directors](index=26&type=section&id=%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E7%9A%84%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93) The Company's directors have confirmed full compliance with the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules, with no non-compliance incidents recorded this year - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Listing Rules as its code of conduct for directors' securities transactions[73](index=73&type=chunk) - All Directors confirmed full compliance with the required standards of dealing and code of conduct, with **no non-compliance incidents** occurring during the year[73](index=73&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=26&type=section&id=%E8%B3%BC%E8%B2%B7%E3%80%81%E5%87%BA%E5%94%AE%E6%88%96%E8%B4%96%E5%9B%9E%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) For the year ended March 31, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - For the year ended March 31, 2025, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[74](index=74&type=chunk) [Review by Audit Committee](index=26&type=section&id=%E7%94%B1%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83%E5%AF%A9%E9%96%B1) The Company's Audit Committee has reviewed the Group's adopted accounting principles and practices, and discussed audit, internal control, and financial reporting matters, including the audited consolidated financial statements for 2025 - The Company's Audit Committee has reviewed the Group's adopted accounting principles and practices, and discussed audit, internal control, and financial reporting matters, including the audited consolidated financial statements for 2025[75](index=75&type=chunk) [Scope of Work of UHY CPA Limited](index=27&type=section&id=%E5%A4%A7%E8%8F%AF%E9%A6%AC%E6%96%BD%E9%9B%B2%E6%9C%83%E8%A8%88%E5%B8%AB%E4%BA%8B%E5%8B%99%E6%89%80%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8%E4%B9%8B%E5%B7%A5%E4%BD%9C%E7%AF%84%E7%95%8C) The Group's auditor, UHY CPA Limited, has reconciled the financial figures in the preliminary announcement with the audited consolidated financial statements, but their audit work does not constitute an assurance engagement, thus no assurance conclusion was expressed on the preliminary announcement - The Group's auditor, UHY CPA Limited, has reconciled the financial figures in the preliminary announcement with the audited consolidated financial statements[76](index=76&type=chunk) - The audit work performed by the auditor does not constitute an assurance engagement, and therefore no assurance conclusion was expressed on the preliminary announcement[76](index=76&type=chunk) [Publication of Annual Report](index=27&type=section&id=%E5%88%8A%E7%99%BC%E5%B9%B4%E5%A0%B1) The Company's annual report will be published on the Stock Exchange and the Company's website in accordance with the Listing Rules - The Company's annual report will be published on the Stock Exchange and the Company's website in accordance with the Listing Rules[77](index=77&type=chunk) [Board of Directors](index=27&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83) As of the announcement date, the Board of Directors comprises three executive directors (Mr. Fok Hau Fai, Mr. Song Sheng En, and Ms. Wei Ju) and three independent non-executive directors (Mr. Xiong Jian Sheng, Mr. Li Yan Sheng, and Mr. Wen Jun Jun) - The Board of Directors comprises three executive directors (Mr. Fok Hau Fai, Mr. Song Sheng En, and Ms. Wei Ju) and three independent non-executive directors (Mr. Xiong Jian Sheng, Mr. Li Yan Sheng, and Mr. Wen Jun Jun)[78](index=78&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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，並明確表示概不就因本公告全部或任何 部分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。 LUMINA GROUP LIMITED （股份代號：1162） 盈利預告－ 淨虧損及本公司擁有人應佔虧損減少 本公告乃由瑩嵐集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據聯交所 證券上市規則（「上市規則」）第13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA 部項下的內幕消息條文（定義見上市規則）作出。 瑩嵐集團有限公司 （於開曼群島註冊成立之有限公司） 本公司董事會（「董事」）謹此知會本公司股東（「股東」）及潛在投資者，根據對本集團截 至2025年3月31日止年度（「本年度」）的未經審核綜合管理賬目之初步審閱及董事會現時 可得資料，預期本集團於本年度將錄得淨虧損及本公司擁有人應佔虧損分別約20.4百萬 港元及約13.6百萬港元，而截至2024年3月31日止年度則為淨虧損及本公司擁有人應佔虧 損分別約29.8百萬港元及約29.8百萬港元。 預期淨虧損減少乃主 ...

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告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。 LUMINA GROUP LIMITED 瑩嵐集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1162） 董事會會議通告 瑩嵐集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會（「董事 會」）謹此宣佈，將於二零二五年六月三十日（星期一）舉行董事會會議，藉以處理（其中 包括）考慮及批准本集團截至二零二五年三月三十一日止年度之經審核年度業績及其刊 發，並考慮派付末期股息（如有）。 承董事會命 瑩嵐集團有限公司 主席及執行董事 霍厚輝 香港，二零二五年六月十八日 於本公告日期，董事會由 (i) 三名執行董事，即霍厚輝先生、宋聖恩先生及韋菊女士；及 (ii) 三名獨立非執行董事，即熊健生先生、李彥昇先生及温隽軍先生組成。 ...

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，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 董事會欣然宣佈於二零二四年十二月十三日起，陳思雅女士（「陳女士」）已獲委任為本集 團公司秘書及本公司授權代表。 陳女士於二零一六年十一月畢業於香港科技大學，持有工商管理學士（專業會計及資訊系 統學）學位。陳女士自二零二三年六月起成為澳洲會計師公會會員。陳女士在審計、財 務、會計和企業管治實務的領域擁有豐富經驗。 –1– 董事會認為，陳女士合資格擔任上市規則第3.28條規定的本公司之公司秘書。董事會謹 藉此機會衷心感謝胡女士於其任內對本公司作出之寶貴貢獻，並熱烈歡迎陳女士履新。 LUMINA GROUP LIMITED 瑩嵐集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1162） 財務總監、公司秘書及授權代表變更 瑩嵐集團有限公司（「本公司」，連同其附屬公司，「本集團」）董事會（「董事會」）謹此宣 佈，自二零二四年十二月十三日起，胡嘉兒女士（「胡女士」）基於個人原因辭任本集團財 務總監及公司秘 ...