Financial Performance - The company's revenue for the year ended March 31, 2025, was approximately HKD 194.8 million, an increase of 67.2% compared to HKD 116.5 million in the previous year[6]. - The loss attributable to shareholders for the same period was approximately HKD 9.1 million, which represents a 43.1% increase from HKD 6.4 million in the previous year[6]. - Revenue for the year ended March 31, 2025, increased due to project W61, with a gross profit margin of 1.9%, down from 3.6% in 2024[16]. - Other income increased by 8.8% to approximately HKD 14,500,000, attributed to higher insurance compensation[16]. - Administrative and operating expenses decreased by 3.6% to approximately HKD 24,900,000, mainly due to reduced director salaries and general administrative costs[16]. - The company reported a net cash outflow from operating activities of HKD 5,069,000, an improvement from HKD 13,109,000 in the previous year[190]. - The company’s equity decreased to HKD 293,933,000 from HKD 303,028,000, a decline of 3.4%[186]. - The basic and diluted loss per share increased to HKD 0.91 from HKD 0.64, reflecting a 42.2% increase in loss per share[183]. Contracts and Projects - The company secured two government civil engineering projects in March and May 2025, with a total contract value of HKD 1.11 billion, including project W62 valued at HKD 668 million and project W63 valued at HKD 442 million[8]. - The company plans to actively participate in government tender projects, particularly from the Civil Engineering and Development Department and the Drainage Services Department, to increase project revenue[9]. - The company secured two new contracts in March and May 2025, with a total contract value of HKD 1,110,000,000 for projects W62 and W63[20]. Financial Position and Liquidity - Cash and cash equivalents decreased by approximately HKD 13,600,000 to about HKD 28,700,000 as of March 31, 2025, primarily used for property, machinery, and equipment acquisitions[22]. - The capital-to-debt ratio as of March 31, 2025, was approximately 0.2%, down from 0.4% in 2024, indicating sufficient liquidity to meet funding needs[23]. - As of March 31, 2025, the company had unutilized bank financing of approximately HKD 75,000,000, unchanged from 2024[22]. Employee and Management - As of March 31, 2025, the group had a total of 147 employees, an increase from 98 employees in 2024[31]. - Employee costs for the year ended March 31, 2025, were approximately HKD 49.4 million, compared to HKD 43.7 million in 2024[31]. - The group has implemented a performance review system to assess employee performance, which influences salary and bonus decisions[48]. - The company has adopted a board diversity policy to enhance the board's composition by considering various factors such as age, gender, skills, and professional experience[118]. Governance and Compliance - The board of directors consists of five members, with Mr. Lai Wei serving as the chairman[61]. - The company has adopted measures to ensure high standards of corporate governance, complying with the relevant codes[100]. - The company has complied with the listing rules regarding the appointment of at least three independent non-executive directors, with one possessing appropriate professional qualifications or accounting expertise[105]. - The company has established a risk management and internal control system to address various potential risks, including liquidity and financial reporting risks[132]. Sustainability and Corporate Responsibility - The group is committed to environmental sustainability and has established a sustainability committee to address significant environmental, social, and governance issues[47]. - The company is focused on sustainable development and has appointed a committee to oversee these initiatives[154]. Audit and Financial Reporting - The audit opinion confirms that the financial statements were prepared in accordance with Hong Kong Financial Reporting Standards[165]. - Key audit matters were identified based on professional judgment, emphasizing their importance in the overall audit of the financial statements[166]. - The audit procedures included sampling checks of contract values and discussions with management regarding the status of engineering service contracts[169]. Shareholder Communication - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders and the investment community[141]. - Shareholders can request a special general meeting if they hold at least 10% of the paid-up capital with voting rights[137]. - The company encourages shareholder participation in annual general meetings and regularly reviews the format to meet shareholder needs[145].

Sang Hing Holdings (International) Limited 生興控 股（國際 ）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1472） 職權範圍－提名委員會 1. 組成 生興控股（國際）有限公司（「本公司」）董事會（「董事會」）成立提名委員會 （「委員會」），並採納下列條款為委員會的職權範圍。 2. 成員 4.1 委員會須於適當時候召開會議，惟每年須至少召開一次。 4.2 委員會主席須按委員會任何成員的要求召開會議。 5.1 除本職權範圍所規定者外，委員會會議及程序須受到本公司組織章 程細則中對董事會會議及程序的規定規管。 5.2 除委員會全體成員另有豁免外，確認會議地點、時間及日期的通知 將連同擬討論的議程於會議日期前最少七個工作日前遞交予委員會 各成員。支持文件亦須同時送交予委員會成員及其他出席人士（如屬 適用）。 5.3 委員會會議的法定人數為任何兩名成員。會議可以委員會成員親自 到場、電話或視像會議方式召開。經適當召集及有法定人數出席的 委員會會議，可行使一切或任何歸屬予委員會或可由委員會行使的 權限、權力及酌情權。 6. 股東週年大會 委員會主席或（當委員會主席 ...

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。 Sang Hing Holdings (International) Limited 生興控 股（國際 ）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1472） 截至二零二五年三月三十一日止年度之 全年業績公告 | 財務摘要 | | | | | --- | --- | --- | --- | | | 二零二五年 | 二零二四年 | 增加╱ （減少） | | | 千港元 | 千港元 | % | | 收益 | 194,780 | 116,469 | 67.2 | | 未計利息、稅項、折舊及攤銷前溢利 | (58) | (825) | (93.0) | | 除稅前虧損 | (6,845) | (8,376) | (18.3) | | 本公司擁有人應佔年內虧損 | (9,095) | (6,356) | 43.1 | | 本公司擁有人應佔每股虧損 | | | | | （港仙） 基本及攤薄 | (0.9 ...

（於開曼群島註冊成立的有限公司） （股份代號：1472） 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。 Sang Hing Holdings (International) Limited 生興控 股（國際 ）有限公司 主席兼執行董事 賴偉 香港，二零二五年六月十三日 於本公告日期，執行董事為賴偉先生及賴英華先生；及獨立非執行董事為梁以德 教授、何大東先生、曾詠翹女士及蔡浩仁先生。 董事會會議通告 生興控股（國際）有限公司（「本公司」）之董事（「董事」）會（「董事會」）謹此宣佈，本公 司將於二零二五年六月二十七日（星期五）舉行董事會會議，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三月三十一日止年度之全年業績及其發 佈，以及考慮建議宣派末期股息（如有）。 承董事會命 生興控股（國際）有限公司 ...

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。 Sang Hing Holdings (International) Limited 生興控 股（國際 ）有限公司 本公司董事會（「董事會」）欣然宣佈，本公司之全資附屬公司生興土木有限公 司與豐利建築工程有限公司成立之合營企業於二零二五年四月三十日獲授一 份有關位於香港東區阿公岩村公營房屋發展之工地平整及基礎設施工程的土 木工程項目標書（「標書」）。標書概要載列如下： 1 標書所載暫定 | | | | | 總合約金額 | 預期合約 | | --- | --- | --- | --- | --- | --- | | 客戶 | 工程類型 | 地點 | 暫定開工日期 | （約百萬港元） | 期間 | | 土木工程拓展署 | 公營房屋發展之 | 香港東區 | 二零二五年 | 442.2 | 自二零二五年 | | | 工地平整及 | 阿公岩村 | 五月八日 | | 五月至二零 | | | 基礎設施工程 | | | ...

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。 Sang Hing Holdings (International) Limited 生興控 股（國際 ）有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1472） 自願性公告成功中標 | | | | | 標書所載暫定 | | | --- | --- | --- | --- | --- | --- | | 客戶 | 工程類型 | 地點 | 開工日期 | 總合約金額 （約百萬港元） | 預期合約期間 | | | | | | 668 | | | 土木工程拓展署 | 公營房屋發展之 | 九龍東三個市區 | 二零二五年 | | 自二零二五年 | | | 工地平整及 | 寮屋區（即茶果嶺 | 三月二十八日 | | 三月二十八日至 | | | 基礎設施工程 | 村、竹園聯合村及 | | | 二零二九年 | | | | 牛池灣村） | | | 十月三十日 | 董事會謹此聲明，概無就標書作出本集團的溢利預測或估 ...

NOTIFICATION LETTER 通知信函 Dear Non-registered Holder(s)(Note 1) , 12 December 2024 Sang Hing Holdings (International) Limited (the "Company") - Notice of publication of Interim Report 2024 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communication is available on the Company's website at www.sang-hing.com.hk and the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk respectively (the "Website Version"). T ...

Sang Hing Holdings (International) Limited 生興控股(國際)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） NOTIFICATION LETTER 通知信函 Dear Registered Shareholders, Sang Hing Holdings (International) Limited (the "Company") – Notice of publication of Interim Report 2024 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communication is now available on the Company's website at www.sang-hing.com.hk and the website of The Stock E ...

Financial Performance - For the six months ended September 30, 2024, the company's revenue was approximately HKD 89,731,000, representing a 33.5% increase from HKD 67,191,000 in the same period of 2023[26]. - The company reported a loss attributable to owners of approximately HKD 8,903,000, which is an increase of 28.7% compared to a loss of HKD 6,918,000 in the previous year[26]. - The gross profit margin for the six months ended September 30, 2024, was 2.9%, up from 2.0% in 2023, indicating slight improvement but still at a low level[34]. - The gross profit for the same period was HKD 2,628,000, compared to HKD 1,350,000 in 2023, indicating a significant improvement in profitability[76]. - The operating loss decreased to HKD 7,805,000 from HKD 8,813,000 year-over-year, showing a reduction of approximately 11.4%[76]. - The company reported a loss before tax of HKD 7,973,000, which is an improvement from HKD 8,885,000 in the previous year[76]. - The total comprehensive loss for the period was HKD 8,903,000, compared to HKD 6,918,000 in 2023, reflecting a year-over-year increase in losses[76]. - The basic and diluted loss per share was HKD 0.89, compared to HKD 0.69 in the same period last year, indicating a worsening in per-share performance[76]. - The net cash used in operating activities for the six months ended September 30, 2024, was HKD (10,866,000), compared to HKD (14,421,000) for the same period in 2023, indicating an improvement of about 24.06%[87]. - The pre-tax loss for the six months ended September 30, 2024, was HKD 8,502,000, compared to HKD 4,539,000 in the same period of 2023, indicating a deterioration in financial performance[111]. Revenue Sources - The company recognized revenue from four projects during the six months ended September 30, 2024, with significant contributions from project W61[32]. - The company's revenue from civil engineering and related management services for the six months ended September 30, 2024, was HKD 89,731,000, representing a 33.6% increase from HKD 67,191,000 in the same period of 2023[102]. - Customer A contributed HKD 80,482,000 to the revenue, up from HKD 65,648,000, while Customer B generated HKD 9,249,000 in revenue, which was not applicable in the previous year[106]. - Other income for the six months ended September 30, 2024, totaled HKD 894,000, compared to HKD 102,000 in the same period of 2023, indicating a significant increase[108]. Expenses and Costs - Administrative and operating expenses for the period were approximately HKD 11,300,000, reflecting a 9.7% increase from HKD 10,300,000 in 2023, primarily due to increased project bidding consultancy fees[34]. - Employee costs for the six months ended September 30, 2024, were approximately HKD 21,400,000, a decrease from HKD 23,100,000 in the same period of 2023[51]. - The financing costs for the six months ended September 30, 2024, amounted to HKD 168,000, compared to HKD 72,000 in the same period of 2023, reflecting an increase in interest expenses[109]. - Total compensation for directors and senior management for the six months ended September 30, 2024, amounted to HKD 2,940,000, a decrease from HKD 4,383,000 in the same period of 2023[142]. Assets and Liabilities - As of September 30, 2024, the group had cash and cash equivalents of approximately HKD 24,900,000, a decrease of about HKD 17,400,000 from HKD 42,300,000 as of March 31, 2024, primarily due to losses and capital expenditures[38]. - The company's total liabilities increased to HKD 24,293,000 from HKD 17,873,000, an increase of about 35.00%[78]. - The total equity attributable to owners decreased to HKD 294,125,000 from HKD 303,028,000, a reduction of approximately 2.95%[80]. - Current assets decreased to HKD 24,923,000 from HKD 42,263,000, a decline of about 41.06%[78]. - Trade receivables rose to HKD 14,212,000 from HKD 12,548,000, an increase of approximately 13.27%[78]. - The company's contract assets increased significantly to HKD 76,275,000 from HKD 62,117,000, representing a growth of approximately 22.77%[78]. Capital Structure and Financing - The group's capital structure remained unchanged, with a total of 1,000,000,000 ordinary shares issued at HKD 0.01 per share as of September 30, 2024[40]. - The capital debt ratio was approximately 0.3% as of September 30, 2024, down from about 0.4% as of March 31, 2024, indicating a stable financial position[41]. - The group has unutilized bank financing of approximately HKD 75,000,000 as of September 30, 2024, unchanged from March 31, 2024[40]. Future Outlook and Strategy - The group plans to actively participate in government tender projects, particularly in civil engineering, to secure more project revenues despite anticipated economic downturns in Hong Kong and mainland China[37]. - The group aims to enhance its bidding capabilities to increase the success rate of project tenders amid rising competition and technical requirements[37]. - The company has no significant investments or future plans for major capital assets as of September 30, 2024[44]. Compliance and Governance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024, and confirmed compliance with applicable accounting standards[74]. - The company applied several amendments to Hong Kong Financial Reporting Standards during the reporting period, which did not have a significant impact on the financial performance or disclosures[99]. - The effective tax rate for the company remains at 16.5%, consistent with the previous year, with a two-tiered system applicable for qualifying group entities[113]. - The company has not recognized any tax provisions for entities registered in the Cayman Islands and British Virgin Islands due to the absence of tax liabilities[113]. Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[63]. - As of September 30, 2024, the company had no share options granted or exercised under the share option scheme established in January 2020[72]. - The company’s major shareholder, Mr. Lai Wei, holds a 60.0% stake in the company through a controlled corporation, with 600,000,000 shares[69].

Revenue Performance - Revenue for the six months ended September 30, 2024, was HKD 89,731,000, representing a 33.5% increase from HKD 67,191,000 in the same period last year[2] - The group's revenue from civil engineering and related management services for the six months ended September 30, 2024, was HKD 89,731,000, an increase of 33.6% compared to HKD 67,191,000 for the same period in 2023[21] - For the six months ended September 30, 2024, the company's revenue was approximately HKD 89,700,000, an increase of 33.5% compared to HKD 67,200,000 for the same period in 2023, primarily due to increased revenue from project W61[44] Profit and Loss - The operating loss for the period was HKD (7,805,000), an improvement of 11.4% compared to HKD (8,813,000) in the previous year[4] - The loss attributable to owners of the company for the period was HKD (8,903,000), which is a 28.7% increase from HKD (6,918,000) in the prior year[4] - Basic and diluted loss per share was HKD (0.89), up 29.0% from HKD (0.69) in the previous year[4] - The group incurred a pre-tax loss of HKD 8,502,000 for the six months ended September 30, 2024, compared to a loss of HKD 4,539,000 for the same period in 2023[28] Gross Profit and Margins - The company reported a gross profit of HKD 2,628,000, compared to HKD 1,350,000 in the previous year, indicating a significant improvement[4] - The gross profit margin for the six months ended September 30, 2024, was 2.9%, compared to 2.0% in 2023, indicating a slight improvement but still at a low level[48] Assets and Liabilities - Non-current assets increased to HKD 14,436,000 from HKD 11,122,000, reflecting a growth of 29.0%[6] - Current assets decreased slightly to HKD 302,779,000 from HKD 305,718,000, a decline of 1.0%[6] - Total assets less current liabilities stood at HKD 296,071,000, down from HKD 304,063,000, a decrease of 2.6%[8] - The net asset value attributable to owners of the company was HKD 294,125,000, down from HKD 303,028,000, a decline of 2.9%[8] - As of September 30, 2024, trade payables were HKD 9,388,000, a slight decrease from HKD 9,566,000 as of March 31, 2024[42] - As of September 30, 2024, the group's undrawn bank financing amounts to approximately HKD 75,000,000, unchanged from March 31, 2024[56] - The capital debt ratio as of September 30, 2024, is approximately 0.3%, down from 0.4% as of March 31, 2024[57] Income and Other Gains - The group reported other income of HKD 894,000 for the six months ended September 30, 2024, compared to HKD 102,000 in the same period of 2023, indicating a significant increase[26] - Other income and net other gains or losses for the six months ended September 30, 2024, amounted to approximately HKD 900,000, a significant increase of 776.5% from HKD 100,000 in 2023, attributed to increased insurance claims[48] Financing and Costs - The company’s financing costs increased to HKD (168,000) from HKD (72,000), reflecting a rise of 133.3%[4] - Employee costs for the six months ended September 30, 2024, are approximately HKD 21,400,000, compared to HKD 23,100,000 for the same period in 2023[67] Future Outlook and Strategy - The company won a civil engineering project (Project W61) in May 2024, with a contract value of approximately HKD 560,000,000, scheduled to run from June 2024 to December 2028[44] - The company plans to actively participate in government tender projects, particularly in civil engineering, to secure more project revenue amid expected economic downturns in Hong Kong and mainland China[53] - The company anticipates continued high operating costs and price increases due to geopolitical uncertainties and supply chain disruptions, despite its business being less affected than other industries[53] - The company aims to enhance its bidding capabilities to secure more successful tenders and explore various business opportunities within the construction industry to create greater shareholder value[53] Cash and Cash Equivalents - As of September 30, 2024, the company had cash and cash equivalents of approximately HKD 24,900,000, a decrease of about HKD 17,400,000 from HKD 42,300,000 as of March 31, 2024, primarily due to losses incurred and purchases of property, machinery, and equipment[54] Dividends - The group did not declare any interim dividends for the six months ended September 30, 2024, consistent with the previous year[34] - The board has not declared an interim dividend for the six months ended September 30, 2024[77] Other Information - The group has no major investments or future plans for significant capital assets as of September 30, 2024[60] - There are no significant contingent liabilities as of September 30, 2024[64] - The actual application of the net proceeds has been slower than expected due to delays caused by the COVID-19 pandemic and adverse weather conditions[70] - The net proceeds from the public offering in March 2020, after deducting listing expenses of approximately HKD 45,200,000, amount to approximately HKD 79,800,000, which has been fully utilized[69] - As of September 30, 2024, the group has pledged bank deposits of approximately HKD 4,400,000 as collateral for bank financing[63]