| 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) | 01166 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,500,000,000 | HKD | | 0.2 HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 2,500,000,000 | HKD | | 0.2 HKD | | 500,000,000 | 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: | 2026年3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: | 星凱控股有限公司 | | | | 呈 ...

Financial Performance - For the six months ending December 31, 2025, the company reported revenue of HKD 237,977,000, a decrease of 20.6% compared to HKD 299,714,000 in the same period of 2024[4] - Gross profit for the same period was HKD 16,776,000, down 34.5% from HKD 25,568,000 year-over-year[4] - The company incurred a pre-tax loss of HKD 14,636,000, an improvement from a loss of HKD 30,068,000 in the previous year, indicating a reduction in losses by 51.2%[5] - The net loss for the period was HKD 15,489,000, compared to a net loss of HKD 26,572,000 in the prior year, reflecting a 41.7% decrease in losses[5] - Total comprehensive income for the period was HKD (13,553,000), improving from HKD (33,279,000) in the previous year, marking a 59.3% reduction in comprehensive losses[6] - The company reported a basic and diluted loss per share of HKD 0.13, an improvement from HKD 0.21 in the previous year[6] - The company reported a net loss of HKD 26,226,000 for the six months ended December 31, 2024, compared to a loss of HKD 15,121,000 for the same period in 2025[9] - Total comprehensive income for the six months ended December 31, 2024, was HKD (32,960,000), while for the same period in 2025, it was HKD (4,624,000)[9] Assets and Liabilities - The company's total assets as of December 31, 2025, were HKD 644,024,000, slightly down from HKD 649,898,000 as of June 30, 2025[8] - Current liabilities increased to HKD 263,782,000 from HKD 260,910,000, indicating a rise of 0.7%[7] - Non-current assets totaled HKD 623,534,000, up from HKD 617,366,000, reflecting a growth of 1.7%[7] - The company's total liabilities decreased from HKD 1,763,000,000 as of December 31, 2024, to HKD 2,572,000,000 as of December 31, 2025[9] - Total assets as of December 31, 2025, were HKD 907,806,000, slightly down from HKD 910,808,000 as of June 30, 2025[21] - Total liabilities as of December 31, 2025, were HKD 296,357,000, compared to HKD 294,307,000 as of June 30, 2025, showing a slight increase[21] Cash Flow and Financing - The company generated a net cash outflow of HKD 9,498,000 from operating activities for the six months ended December 31, 2025, compared to a net inflow of HKD 15,450,000 in 2024[10] - The company raised HKD 8,501,000 from the issuance of new shares during the financing activities in the six months ended December 31, 2025[10] - The company’s financing activities resulted in a net cash outflow of HKD 3,224,000 for the six months ended December 31, 2025, compared to HKD 38,520,000 in 2024[10] - The group raised new borrowings of HKD 6,994,000 for the six months ended December 31, 2025, compared to HKD 43,412,000 for the same period in 2024[45] - The group faced significant cash outflows from operating activities, amounting to approximately HKD 78 million for the fiscal year ending June 30, 2025, necessitating the maintenance of sufficient reserves for operational stability[72] Revenue Breakdown - The wire and cable segment generated revenue of approximately HKD 66,925,000, down 27.9% from HKD 92,846,000 year-on-year, accounting for 28.1% of total revenue[53] - The copper rod segment reported revenue of approximately HKD 167,631,000, a decrease of 14.6% from HKD 196,284,000, representing 70.5% of total revenue[53] - Revenue from the Americas decreased by 33.1% to approximately HKD 8,851,000, accounting for 3.7% of total revenue[54] - Revenue from mainland China and Hong Kong fell by 21.1% to approximately HKD 198,394,000, making up 83.4% of total revenue[54] Shareholder Information - The company issued 23,740,000 new shares at a placement price of HKD 0.37, raising approximately HKD 8,501,000 after expenses[46] - As of December 31, 2025, the total number of issued shares is 142,466,617, with major shareholders Chen Zhuxiang and Li Pei holding 6.80% and 5.31% of the shares, respectively[98] - The company has received approval for a new general mandate to issue up to 23,745,323 new shares, representing 20% of the issued shares as of the date of the 2025 annual general meeting[85] Corporate Governance - The company has adopted the corporate governance code and complied with all relevant provisions, except for certain deviations noted in the report[100] - Independent non-executive director Zhong Jingguang has served for over nine years and was re-elected at the 2025 annual general meeting[101] - Independent non-executive director Luo Weiming has also served for over nine years and was re-elected at the 2025 annual general meeting[102] - The Audit Committee, consisting of independent non-executive directors, has reviewed the group's unaudited interim results for the review period[106] Strategic Outlook - The group aims to strengthen its core business in power and appliance cables while actively expanding into electric vehicle, robotics, and new energy cable sectors, focusing on product upgrades and technological breakthroughs[60] - The overall economic recovery remains lackluster, with multiple pressures on national economic fundamentals, leading to a need for the group to optimize customer and product structures to capture opportunities in new energy and smart development[61]

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 | | | 致：香港交易及結算所有限公司 公司名稱: 星凱控股有限公司 呈交日期: 2026年3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) | 01166 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,500,000,000 | HKD | | 0.2 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,500,000,000 | HKD | | 0.2 | HKD | | 500,000,000 | 本月底法定/註冊股本總額： HKD 500,000,000 F ...

Core Viewpoint - Xingkai Holdings (01166) reported a decline in revenue and a narrowed loss for the six months ending December 31, 2025, indicating challenges in its core business segments [1] Financial Performance - The company's revenue was approximately HKD 238 million, representing a year-on-year decrease of 20.6% [1] - The loss attributable to shareholders was HKD 15.121 million, which is a 42.34% reduction compared to the previous year [1] - Basic loss per share was HKD 0.13 [1] Business Segment Analysis - Revenue from the wire and cable segment was approximately HKD 66.925 million, down 27.9% year-on-year, accounting for 28.1% of total revenue [1] - Revenue from the copper rod segment was about HKD 168 million, a decrease of 14.6% year-on-year, making up 70.5% of total revenue [1] - Rental income was approximately HKD 3.421 million, reflecting a significant decline of 67.7% year-on-year, contributing 1.4% to total revenue [1]

Core Viewpoint - Xingkai Holdings (01166) reported a mid-term performance for the six months ending December 31, 2025, showing a significant decline in revenue and a reduced loss compared to the previous year [1] Financial Performance - Revenue for the period was approximately HKD 238 million, representing a year-on-year decrease of 20.6% [1] - The loss attributable to shareholders was HKD 15.121 million, which is a reduction of 42.34% year-on-year [1] - Basic loss per share was HKD 0.13 [1] Business Segment Performance - The revenue from the wire and cable segment was approximately HKD 66.925 million, down 27.9% year-on-year, accounting for 28.1% of total revenue [1] - The copper rod business generated revenue of approximately HKD 168 million, a decrease of 14.6% year-on-year, making up 70.5% of total revenue [1] - Rental income was approximately HKD 3.421 million, reflecting a significant decline of 67.7% year-on-year, contributing 1.4% to total revenue [1]

Core Viewpoint - The company reported a significant decline in total revenue and continued to face losses, prompting a strategic focus on core business areas and technological innovation to adapt to market changes [1][2] Financial Performance - For the six months ending December 31, 2025, the company recorded total revenue of approximately HKD 238 million, a year-on-year decrease of 20.6% [1] - The loss attributable to shareholders was approximately HKD 15.12 million, compared to a loss of HKD 26.23 million in the same period last year [1] - The loss per share for the period was approximately HKD 0.13, compared to HKD 0.21 for the mid-year of 2024/2025 (restated) [1] - The board of directors recommended not to declare any interim dividend for the six months ending December 31, 2025, consistent with the previous year [1] Strategic Focus - The company aims to consolidate its traditional advantages in power and appliance cables while actively expanding into electric vehicles, robotics, and new energy application cables [1] - A strategy to deepen cooperation with key customers and explore industry transformation paths is being implemented to achieve win-win collaborations [1] Industry Challenges - The basic manufacturing sectors, including wire and cable and copper rod processing, are facing significant challenges due to reduced demand from home appliances and power equipment, leading to a substantial decrease in order volume [1] - Fluctuations in copper prices have further exacerbated operational difficulties, severely restricting procurement, production, and pricing strategies [1] Innovation and Efficiency - To enhance core competitiveness, the company plans to strengthen its technical team and increase investment in independent research and development to improve new product development capabilities [1] - Through technological innovation, the company aims to meet diverse customer needs and further expand market share [1] - The management system will be optimized to improve operational efficiency and reduce resource waste, laying a solid foundation for sustainable development [2]

Financial Performance - For the six months ending December 31, 2025, the company reported a revenue of HKD 237,977,000, a decrease of 20.6% compared to HKD 299,714,000 in the same period of 2024[2] - The gross profit for the same period was HKD 16,776,000, down 34.5% from HKD 25,568,000 year-over-year[2] - The company incurred a loss before tax of HKD 14,636,000, an improvement from a loss of HKD 30,068,000 in the previous year, indicating a 51.2% reduction in losses[3] - The net loss for the period was HKD 15,489,000, compared to a net loss of HKD 26,572,000 in the prior year, reflecting a 41.7% decrease in losses[3] - The total comprehensive income for the period was HKD (13,553,000), significantly improved from HKD (33,279,000) in the previous year[3] - The company reported a total comprehensive income of HKD (32,960) thousand for the six months ended December 31, 2024, reflecting a loss of HKD 26,226 thousand during the period[6] - The pre-tax loss for the cable and wire segment was HKD 12.289 million, while the copper rod segment reported a pre-tax profit of HKD 2.029 million[14] - The total external customer revenue for the copper rod segment was HKD 167.631 million, while the cable and wire segment generated HKD 66.925 million[14] - The total pre-tax loss for the six months ended December 31, 2024, was HKD 18.641 million, reflecting the challenges faced in the operational segments[15] - The company incurred a loss of HKD 15,121 thousand for the six months ended December 31, 2025[6] Assets and Liabilities - The company's total assets as of December 31, 2025, were HKD 644,024,000, slightly down from HKD 649,898,000 as of June 30, 2025[4] - Current liabilities totaled HKD 263,782,000, a slight increase from HKD 260,910,000 in the previous period[5] - The company's equity attributable to owners was HKD 614,449,000, a decrease from HKD 619,073,000 in the previous period[5] - As of December 31, 2025, the company's total equity decreased to HKD 614,449 thousand, down from HKD 768,758 thousand as of December 31, 2024[6] - The reportable liabilities as of December 31, 2025, were HKD 260,732,000, compared to HKD 262,705,000 as of June 30, 2025, indicating a reduction in liabilities[19] - The company's debt-to-equity ratio as of June 30, 2025, is 0.29, down from 0.33 on June 30, 2024, indicating a focus on maintaining a healthy financial structure[79] Cash Flow and Financing - The net cash used in operating activities for the six months ended December 31, 2025, was HKD 15,450 thousand, compared to a net cash used of HKD 9,498 thousand in the same period of 2024[7] - The company raised HKD 8,784 thousand from the placement of new shares during the reporting period[6] - The company had a net cash outflow from financing activities of HKD 38,520 thousand during the reporting period[7] - The company incurred financing costs of HKD 4,550,000 for the six months ended December 31, 2025, down from HKD 8,640,000 in the previous year, indicating a reduction of approximately 47.3%[23] - The group faced significant cash outflows from operating activities amounting to approximately HKD 78 million for the fiscal year ending June 30, 2025[76] Market and Revenue Breakdown - Revenue from the China market for the six months ended December 31, 2025, was HKD 193,642,000, down from HKD 244,429,000 in the previous year, reflecting a decline of approximately 20.7%[21] - The wire and cable business generated revenue of approximately HKD 66,925,000, down 27.9% from HKD 92,846,000 in the previous year, accounting for 28.1% of total revenue[55] - The copper rod business revenue was approximately HKD 167,631,000, a decrease of 14.6% from HKD 196,284,000 last year, representing 70.5% of total revenue[55] - Revenue from the Americas market decreased by 33.1% to approximately HKD 8,851,000, accounting for 3.7% of total revenue[56] - Revenue from the China and Hong Kong market fell by 21.1% to approximately HKD 198,394,000, representing 83.4% of total revenue[56] Corporate Governance and Compliance - The company has adopted the corporate governance code and complied with all applicable provisions, except for specific deviations outlined in the document[109] - Independent non-executive directors have served over nine years, requiring shareholder approval for their re-election[110] - The company’s independent non-executive director, Mr. Chung, has been re-elected at the 2025 annual general meeting, demonstrating continued confidence in his independent judgment[111] - The chairman and CEO roles are currently held by the same individual, Mr. Chow, who is the founder of the group and has significant industry experience[114] - The board will continue to review the effectiveness of the corporate governance structure, including the separation of the chairman and CEO roles[115] - The company emphasizes adherence to regulations as part of its operational strategy[118] Future Plans and Strategies - The company plans to focus on its core business, enhancing traditional advantages in power and household wiring, while actively expanding into electric vehicles, robotics, and new energy applications[61] - The company aims to strengthen its technical team and increase investment in independent research and development to enhance new product development capabilities[62] - The group has not recorded any operational revenue from its mining projects located in Mongolia, as no production activities have commenced during the review period[60] - The mining business is expected to contribute little to the group's performance in the short term due to cautious operational strategies and lack of large-scale capital investment[60] Shareholder and Capital Management - The company issued 23,740,000 new shares at a placement price of HKD 0.37, raising approximately HKD 8,501,000 after expenses[47] - The total gross proceeds from the placement amount to HKD 8,783,800, with net proceeds estimated at approximately HKD 8,501,000, translating to a net price of about HKD 0.358 per share[85] - The company has been actively seeking new investors to optimize its shareholder base and enhance liquidity, but has faced challenges due to low trading volume[80] - The board believes that the placement will enhance the group's capital base and financial position to support ongoing operations and business growth[76]

Core Viewpoint - Xingkai Holdings (01166) expects a loss attributable to shareholders of approximately HKD 12 million to HKD 18 million for the six months ending December 31, 2025, compared to a loss of approximately HKD 26.226 million for the six months ending December 31, 2024 [1] Summary by Relevant Categories Financial Performance - The anticipated loss for the upcoming period is significantly lower than the previous year's loss, indicating an improvement in financial performance [1] - The expected reduction in loss is primarily attributed to a decrease in general and administrative expenses [1] - The company recognized a net gain from the fair value of investment properties during the period, contrasting with a loss in the corresponding prior period [1] - Financing costs have also decreased, contributing to the overall reduction in expected losses [1]

Core Viewpoint - Xingkai Holdings (01166) expects a loss attributable to shareholders of approximately HKD 12 million to HKD 18 million for the six months ending December 31, 2025, compared to a loss of approximately HKD 26.226 million for the six months ending December 31, 2024 [1] Summary by Relevant Categories Financial Performance - The anticipated loss for the upcoming period is significantly lower than the previous year's loss, indicating an improvement in financial performance [1] - The expected reduction in loss is primarily attributed to a decrease in general and administrative expenses [1] - The company recognized a net gain from the fair value of investment properties during the period, contrasting with a loss from fair value in the corresponding period [1] - Financing costs have also decreased, contributing to the overall reduction in expected losses [1]

Core Viewpoint - Xingkai Holdings (01166.HK) is expected to report a loss attributable to shareholders of approximately HKD 12 million to HKD 18 million for the six months ending December 31, 2025, compared to a loss of approximately HKD 26.226 million for the six months ending December 31, 2024 [1] Financial Performance - The company anticipates a decrease in revenue and gross profit during the relevant period [1] - Expected credit loss provisions are projected to increase, along with deferred tax expenses being recorded [1] Factors Influencing Loss Reduction - The anticipated reduction in loss is primarily due to: - Decrease in general and administrative expenses [1] - Recognition of fair value gains on investment properties during the relevant period, contrasting with fair value losses recorded in the corresponding period [1] - Reduction in financing costs [1]