Financial Performance - The total revenue for the year ended December 31, 2025, was HKD 291,503,000, a decrease of 30.8% compared to HKD 421,091,000 in 2024[3] - The gross profit for 2025 was HKD 76,055,000, down 35.4% from HKD 117,900,000 in 2024[3] - The operating profit decreased to HKD 31,038,000 in 2025, a decline of 50.0% from HKD 62,136,000 in 2024[3] - The net profit attributable to equity holders for 2025 was HKD 26,506,000, down 46.5% from HKD 49,386,000 in 2024[4] - Earnings per share for equity holders in 2025 was HKD 13.14, a decrease of 46.8% compared to HKD 24.69 in 2024[4] - The total assets as of December 31, 2025, were HKD 273,992,000, a decrease from HKD 288,571,000 in 2024[6] - The total equity attributable to equity holders decreased to HKD 190,346,000 in 2025 from HKD 224,503,000 in 2024[6] - The company reported a significant decline in revenue from OEM business customers, which was HKD 291,004,000 in 2025 compared to HKD 417,306,000 in 2024, representing a decrease of 30.2%[11] - For the fiscal year ending December 31, 2025, the total revenue from external customers was HKD 291,503,000, a decrease from HKD 421,091,000 in 2024, representing a decline of approximately 30.8%[13] - The gross profit for 2025 was HKD 76,055,000, down from HKD 117,900,000 in 2024, indicating a decrease of about 35.4%[13] - The net profit for the year was HKD 26,506,000, compared to HKD 49,386,000 in 2024, reflecting a decline of approximately 46.5%[19] Customer Contributions - The largest customer contributed HKD 239,722,000 in 2025, down from HKD 323,164,000 in 2024, a decrease of about 25.9%[16] - The second-largest customer generated approximately HKD 44.8 million, down about 47.5% from HKD 85.4 million in the previous year[32] Expenses and Income - The total tax expense for 2025 was HKD 6,099,000, significantly lower than HKD 14,543,000 in 2024, a decrease of approximately 58.1%[18] - The company recognized other income of HKD 301,000 in 2025, compared to HKD 828,000 in 2024, a decrease of approximately 63.7%[17] - Sales expenses for the year ended December 31, 2025, were approximately HKD 2.3 million, a decrease of about 72.6% from approximately HKD 8.4 million for the year ended December 31, 2024, primarily due to cost control measures[36] - Administrative expenses for the year ended December 31, 2025, were approximately HKD 42.1 million, a decrease of about 10.8% from approximately HKD 47.2 million for the year ended December 31, 2024, mainly due to a reduction in expected credit losses[37] - The group recorded a net loss of approximately HKD 604,000 in other income and losses for the year ended December 31, 2025, compared to a net loss of approximately HKD 88,000 for the year ended December 31, 2024, primarily due to foreign exchange losses[38] - Net financing income for the year ended December 31, 2025, was approximately HKD 1.6 million, down from approximately HKD 3.0 million for the year ended December 31, 2024[39] Cash Flow and Investments - Cash and cash equivalents as of December 31, 2025, were approximately HKD 180.2 million, an increase of about HKD 65.7 million from approximately HKD 114.5 million as of December 31, 2024[43] - Capital expenditures for the year ended December 31, 2025, were approximately HKD 0.7 million, significantly down from approximately HKD 15.8 million for the year ended December 31, 2024, primarily for the purchase of new machinery and equipment[44] - The group sold its entire investment in a joint venture, BRH2 Plastics, LLC, due to ongoing losses since acquisition, reducing the investment's book value to zero[27] Employment and Workforce - The group employed 441 full-time employees as of December 31, 2025, a decrease from 818 employees as of December 31, 2024, due to reduced production needs[52] Market and Business Outlook - The uncertain market environment, influenced by potential trade tariff changes and local competition, poses significant risks to the group's future performance[29] - The group's business outlook remains uncertain due to ongoing international trade tensions and military conflicts, which could significantly impact performance, especially given the reliance on the U.S. market[54] - The OEM business continues to be the core segment, generating most of the total revenue, primarily from U.S. customers, but faces risks from trade policies and market conditions[55] - The group is focusing on maintaining strong relationships with existing customers and diversifying revenue sources to reduce dependence on the U.S. market[55] - The "Youyou Mami" business is facing challenges from intense price competition and low birth rates in China, but remains a strong brand in the market[56] - The group is exploring potential acquisitions and strategic partnerships to enhance growth and operational synergies, particularly in the stainless steel water bottle segment[56] Corporate Governance and Compliance - The company has not adopted any new accounting standards that would significantly impact its financial performance or position for the year ended December 31, 2025[9] - The company has adopted a standard code of conduct for directors regarding securities trading, confirming compliance for the entire year ending December 31, 2025[62] - The company has adopted the corporate governance code principles and has complied with all applicable code provisions as of December 31, 2025[63] - The financial data for the year ending December 31, 2025, has been reviewed by the audit committee and verified by PwC, although it does not constitute an audit under Hong Kong auditing standards[64] Dividends and Shareholder Information - The company did not declare any interim dividends for 2025, while it paid interim dividends of HKD 60,000,000 in 2024[21] - The company declared a special dividend of HKD 0.15 per share, with no interim dividend declared for the six months ending June 30, 2025[59] - The company will not repurchase any listed securities for the year ending December 31, 2025, and held no treasury shares as of that date[58] - The annual general meeting is scheduled for June 8, 2026, with a suspension of share transfer registration from June 3 to June 8, 2026[60][61]

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，概不對因本公告全部或任何部份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。 MS GROUP HOLDINGS LIMITED 萬 成 集 團 股 份 有 限 公 司 （ 於開曼群島註冊成立的有限公司） 萬成集團股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將於二零二六 年三月二十日（ 星期五 ）舉行，藉以（ 其中包括 ）考慮及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年度業績及其發佈，並考慮派發末期股息（ 如有）。 承董事會命 萬成集團股份有限公司 主席兼執行董事 （股份代號：1451） 董事會會議召開日期 周青 香港，二零二六年三月十日 於本公告日期，執行董事為周青先生、鍾國強先生、鍾丞晉先生、周瑋先生及老少芬女士；及獨立非執行董 事為俞漢度先生、司徒振中先生及馬清源先生。 ...

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: 萬成集團股份有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2026年3月4日 FF301 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 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) | 01451 | 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 | | | 3,800,000,000 | HKD | | 0.1 HKD | | 380,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 3,800,000,000 | HKD | | 0.1 HKD | | 380,000,000 ...

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1月31日 狀態: 新提交 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 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) 01451 說明 普通股 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 204,400,000 0 204,400,000 增加 / 減少 (-) 0 0 本月底結存 204,400,000 0 204,400,000 致：香港交易及結算所有限公司 公司名稱: 萬成集團股份有限公司（於開曼群島註冊成立之有限公司） 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) | 01451 | 說明 | 普通股 | | | | | | | | ...

Core Viewpoint - Wan Cheng Group Holdings (01451) anticipates a significant decline in financial performance for the fiscal year ending December 31, 2025, with projected consolidated revenue and profit both decreasing compared to the previous fiscal year [1] Financial Projections - The company expects consolidated revenue for the fiscal year 2025 to be approximately HKD 290 million to HKD 300 million, representing a decrease of about 29% to 31% from the HKD 421 million reported for the fiscal year 2024 [1] - Projected profit attributable to shareholders for fiscal year 2025 is estimated to be between HKD 25 million and HKD 31 million, a decline of approximately 37% to 49% from the HKD 49 million recorded in fiscal year 2024 [1] Business Operations - The anticipated decline in performance is primarily attributed to a reduction in sales orders from OEM business clients in the second half of fiscal year 2025 [1] - The core products of the company's OEM business are produced in its manufacturing base located in China, targeting the U.S. market [1] Market Environment - Ongoing trade tensions between the U.S. and China, including additional tariffs imposed by the U.S. on Chinese products, have significantly impacted the company's OEM business [1] - The company faces a highly volatile business environment influenced by U.S. trade and tariff policies and their unpredictable adjustments [1]

Core Viewpoint - Wan Cheng Group Holdings (01451) anticipates a significant decline in financial performance for the fiscal year ending December 31, 2025, primarily due to reduced sales orders from OEM business clients amid ongoing trade tensions between the U.S. and China [1] Financial Performance - The company expects consolidated revenue for the fiscal year 2025 to be approximately HKD 290 million to HKD 300 million, representing a decrease of about 29% to 31% compared to the fiscal year 2024, which recorded approximately HKD 421 million [1] - The anticipated profit attributable to shareholders for fiscal year 2025 is projected to be between HKD 25 million and HKD 31 million, a decline of approximately 37% to 49% from the HKD 49 million reported in fiscal year 2024 [1] Business Operations - The board attributes the expected decrease in performance to a reduction in sales orders from OEM business clients in the second half of fiscal year 2025 [1] - The core products of the company's OEM business are produced at its manufacturing base in China, primarily targeting the U.S. market [1] Market Environment - The ongoing trade tensions between the U.S. and China, including the imposition of additional tariffs on Chinese products by the U.S. government, have significantly impacted the company's OEM business [1] - The company faces a highly volatile business environment driven by factors such as U.S. trade and tariff policies and their unpredictable adjustments [1]

Core Viewpoint - The company, Wan Cheng Group Holdings (01451.HK), anticipates a significant decline in both revenue and profit for the fiscal year ending December 31, 2025, primarily due to reduced sales orders from OEM business clients amid ongoing trade tensions between the U.S. and China [1] Financial Projections - The company projects consolidated revenue for the fiscal year 2025 to be approximately HKD 290 million to HKD 300 million, representing a decrease of about 29% to 31% compared to the fiscal year 2024, which recorded approximately HKD 421 million [1] - The expected profit attributable to shareholders for fiscal year 2025 is estimated to be around HKD 25 million to HKD 31 million, reflecting a decline of approximately 37% to 49% from the HKD 49 million reported in fiscal year 2024 [1] Business Operations - The board attributes the anticipated decline in performance to a reduction in sales orders from OEM business clients in the second half of fiscal year 2025 [1] - The core products of the company's OEM business are produced at its manufacturing base in China, primarily targeting the U.S. market [1] Market Environment - The company is facing significant volatility in the current business environment, driven by factors including the U.S. government's trade and tariff policies and their unpredictable adjustments [1]

MS GROUP HOLDINGS LIMITED 萬 成 集 團 股 份 有 限 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：1451） 盈利警告 本公 告乃根 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) (a) 條及香 港 法例第571章證券及期貨條例第XIVA部的內幕消息條文（ 定義見上市規則）作出。 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。 (i) 二零二五財年合併收益 約港幣290百萬元至港幣 300 百萬元，較截至二 零二四年十二月 三十一日止年度（「二零二四財年」）約港幣421百萬元減少約29%至31%；及 (ii) 二零二五財年股東應佔合併利潤約港幣25百萬元至港幣31百萬元，較二零二四財年的 港幣49百萬元減少約37%至49%。 本公司現正審閱二零二五財年本集團的年度業績。本公告所載資料僅基於本公司管理層參 照本集團二零二五財年未經審核的合併管理賬目及現有可得資料的初步 ...

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: 萬成集團股份有限公司（於開曼群島註冊成立之有限公司） 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 FF301 (A). 股份期權（根據發行人的股份期權計劃） | 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) | 01451 | 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 | | | 3,800,000,000 | HKD | | 0.1 HKD | | 380,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 3,800,000,000 | HKD | | ...

Core Viewpoint - Wan Cheng Group Holdings Limited (01451) announced the issuance of a total of 2.2 million shares due to the exercise of stock options granted under the stock option plan adopted on May 15, 2018 [1] Group 1 - The company will issue a total of 2.2 million shares on December 9, 2025 [1]