Kin Shing Holdings Limited 建成控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） (Stock code 股份代號：1630) NOTIFICATION LETTER 通知信函 19 December 2025 Dear Registered Shareholder, Kin Shing Holdings Limited (the "Company") – Notice of publication of 2026 Interim Report ("Current Corporate Communication") on the Company's website The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.kinshingholdings.com. ...

Financial Performance - Total revenue decreased by approximately HKD 65.5 million or 15.2% to about HKD 366.6 million for the six months ended September 30, 2025, compared to HKD 432.1 million for the same period in 2024[6]. - Profit attributable to the company's owners dropped by approximately HKD 8.7 million or 91.6% to about HKD 0.8 million for the six months ended September 30, 2025, from HKD 9.5 million in the previous year[6]. - Revenue for the six months ended September 30, 2025, was HKD 366,561,000, a decrease of 15.2% compared to HKD 432,088,000 for the same period in 2024[53]. - Gross profit for the same period was HKD 5,478,000, significantly up from HKD 1,496,000, indicating a gross margin improvement[53]. - The company reported a net profit of HKD 782,000 for the six months ended September 30, 2025, down from HKD 9,453,000 in the previous year, reflecting a decline of 91.7%[53]. - The company incurred a net cash outflow from operating activities of HKD 16,976,000 for the six months ended September 30, 2025, compared to HKD 79,074,000 in the previous year[59]. - The company reported a loss of HKD 10,265,000 in the template engineering segment for the six months ended September 30, 2025[66]. - The company reported a pre-tax profit of HKD 9,453,000 for the six months ended September 30, 2025, compared to a profit of HKD 14,826,000 in the same period last year, indicating a decline of about 36.5%[68]. Revenue Breakdown - Private sector project revenue was approximately HKD 211.1 million, accounting for about 57.6% of total revenue, down from 75.1% in the previous year[6]. - Public sector project revenue increased to approximately HKD 155.5 million, representing about 42.4% of total revenue, up from 24.9% in the previous year[6]. Cash and Liquidity - As of September 30, 2025, the group had cash and cash equivalents of approximately HKD 92.4 million, a decrease of about 14.8% from HKD 108.4 million as of March 31, 2025, primarily due to an increase in receivables caused by major contractors delaying settlement processes by over 30 days[22]. - Cash and cash equivalents decreased to HKD 92,390,000 from HKD 108,415,000, a reduction of 14.8%[59]. - The group maintains a prudent funding and treasury policy, closely monitoring liquidity to meet its funding needs[23]. Expenses and Costs - Administrative expenses rose by approximately HKD 0.5 million or 5.4% to about HKD 9.8 million due to increased headquarters operational costs[18]. - Total salary costs recognized in the profit and loss statement for the six months ended September 30, 2025, amounted to approximately HKD 248.9 million, compared to approximately HKD 263.3 million for the same period in 2024, reflecting a decrease of about 5.9%[38]. - The company reported a significant increase in impairment losses on trade receivables, amounting to HKD 15,695,000 for the current period compared to HKD 3,519,000 in the previous year[74]. Shareholder Information - Major shareholders, including Mr. Leung and Ms. Chao, hold 1,125,000,000 shares, representing 75% of the issued share capital of the company[45]. - The company did not purchase, sell, or redeem any of its securities during the six months ended September 30, 2025[49]. - The company did not declare any interim dividend for the six months ended September 30, 2025[8]. Assets and Liabilities - Total assets as of September 30, 2025, were HKD 413,303,000, slightly down from HKD 417,597,000 as of March 31, 2025[55]. - Total liabilities decreased slightly to HKD 299,680,000 as of September 30, 2025, from HKD 304,756,000 as of March 31, 2025[72]. - The company's contract assets amounted to HKD 137,501,000, a decrease from HKD 152,941,000 as of March 31, 2025, reflecting a reduction of approximately 10%[88]. - Trade receivables increased to HKD 79,316,000 as of September 30, 2025, from HKD 53,881,000 as of March 31, 2025, representing a growth of approximately 47.2%[86]. - Trade payables increased to HKD 21,307,000 as of September 30, 2025, compared to HKD 16,345,000 as of March 31, 2025, representing a growth of about 30%[89]. - The company's contract liabilities stood at HKD 47,290,000 as of September 30, 2025, slightly up from HKD 46,351,000 as of March 31, 2025[90]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and confirmed compliance for the six months ended September 30, 2025[40]. - The audit committee, consisting of three independent non-executive directors, has approved and reviewed the accounting principles and policies adopted by the group for the interim results announcement for the six months ended September 30, 2025[43]. Employment and Workforce - As of September 30, 2025, the company employed 1,512 staff, a decrease from 1,578 staff as of September 30, 2024, primarily due to a reduction in the scale of existing template engineering projects[38]. Other Information - The group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures as of September 30, 2025[25]. - The group has no significant contingent liabilities as of September 30, 2025[27]. - The group has no significant off-balance sheet capital commitments as of September 30, 2025[26]. - The group has not reported any significant legal claims or disputes as of the report date, although there is an ongoing claim related to delayed material delivery amounting to approximately HKD 21.2 million[28]. - There were no significant subsequent events after September 30, 2025, up to the report date[51].

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 截至月份: 2025年11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: 建成控股有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2025年12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) | 01630 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,120,000,000 | HKD | | 0.01 HKD | | 31,200,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 3,120,000,000 | HKD | | 0.01 HKD | | 31,200,000 | 本 ...

Core Viewpoint - The company reported a significant decline in both revenue and profit for the six months ending September 30, 2025, indicating challenges in the template market and project completion phases [1] Financial Performance - The company achieved revenue of 367 million HKD, representing a year-on-year decrease of 15.17% [1] - Profit for the period was 782,000 HKD, down 91.73% compared to the previous year [1] - Earnings per share were reported at 0.05 HKD [1] Market Conditions - The decrease in revenue is attributed to a reduction in the total number of projects in the template market and the scale of awarded projects [1] - Several projects that were at their peak construction phase in the previous reporting period have reached the completion stage during this period [1]

Core Viewpoint - The company reported a significant decline in both revenue and profit for the interim period ending September 30, 2025, primarily due to a reduction in the number and scale of projects in the template market [1] Financial Performance - The company achieved revenue of HKD 367 million, representing a year-on-year decrease of 15.17% [1] - Profit for the period was HKD 782,000, down 91.73% compared to the previous year [1] - Earnings per share were reported at HKD 0.05 [1] Project and Market Conditions - The decrease in revenue is attributed to a reduction in the total number of projects and the scale of awarded projects in the template market [1] - Several projects that were at their peak construction phase in the previous reporting period have reached the completion stage during this period [1]

Summary of Key Points Core Viewpoint - The company reported a significant decline in profit for the six months ending September 30, 2025, primarily due to increased impairment losses and a reduction in project scale and number in the template market [1]. Financial Performance - Revenue from 37 projects for the six months ending September 30, 2025, was approximately HKD 367 million [1]. - Profit attributable to owners for the same period was about HKD 800,000, a decrease of approximately 91.6% compared to HKD 9.5 million for the six months ending September 30, 2024 [1]. - The decrease in profit was mainly attributed to an increase in expected credit loss impairment of approximately HKD 13.2 million during the reporting period [1]. Dividend Policy - The board of directors decided not to recommend any interim dividend for the six months ending September 30, 2025, consistent with the previous period where no dividend was declared [1]. Project Development - The decrease in revenue was largely due to a reduction in the total number of projects and the scale of awarded projects in the template market [1]. - Several projects that were at their peak construction phase in the previous reporting period have reached the completion stage in the current period [1].

Revenue Performance - Revenue for the six months ended September 30, 2025, was HKD 366,561,000, a decrease of 15.2% compared to HKD 432,088,000 for the same period in 2024[3] - Total revenue decreased by approximately HKD 65.5 million or 15.2% to about HKD 366.6 million for the six months ended September 30, 2025, compared to HKD 432.1 million for the same period in 2024[44] - Revenue for the six months ended September 30, 2025, was approximately HKD 366.6 million, a decrease from HKD 432.1 million in the same period of 2024, attributed to a reduction in project numbers and sizes in the template market[24] - Revenue from private sector projects was approximately HKD 211.1 million, accounting for about 57.6% of total revenue, down from 75.1% in the previous year[44] - Revenue from public sector projects increased to approximately HKD 155.5 million, representing about 42.4% of total revenue, up from 24.9% in the previous year[44] Profitability - Gross profit for the same period was HKD 5,478,000, significantly up from HKD 1,496,000 in 2024, indicating a gross margin improvement[3] - The company reported a profit before tax of HKD 782,000, down from HKD 9,453,000 in the prior year, reflecting a decline of 91.7%[3] - The company reported a net profit attributable to shareholders of approximately HKD 0.8 million for the six months ended September 30, 2025, down 91.6% from HKD 9.5 million in the same period of 2024, primarily due to an increase in expected credit loss impairment of approximately HKD 13.2 million[30] - Profit attributable to owners of the company dropped by approximately HKD 8.7 million or 91.6% to about HKD 0.8 million for the six months ended September 30, 2025, from HKD 9.5 million for the same period in 2024[44] Impairment and Losses - The expected credit loss under the impairment model was HKD 13,206,000, a substantial increase from HKD 1,100,000 in the previous year[3] - Expected credit loss impairment increased from approximately HKD 1.1 million to about HKD 13.2 million[44] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 413,303,000, slightly down from HKD 417,597,000 as of March 31, 2025[4] - Current liabilities decreased to HKD 298,248,000 from HKD 303,056,000, indicating improved liquidity management[4] - The company’s net asset value increased to HKD 113,623,000 from HKD 112,841,000, showing a positive trend in equity[4] - Cash and cash equivalents decreased to HKD 92,390,000 from HKD 108,415,000, reflecting a tighter cash position[4] - Trade receivables increased to HKD 79.3 million as of September 30, 2025, from HKD 53.9 million as of March 31, 2025, with credit loss provisions rising significantly[22] - Trade payables rose to HKD 21.3 million as of September 30, 2025, compared to HKD 16.3 million as of March 31, 2025[23] Operational Efficiency - Administrative expenses increased by approximately 5.4% to HKD 9.8 million for the six months ended September 30, 2025, due to higher headquarters operating costs[28] - Total salary costs recognized in the income statement for the six months ended September 30, 2025, were approximately HKD 248.9 million, compared to HKD 263.3 million for the same period in 2024[43] - Strict cost control measures are being implemented on existing projects to enhance project management efficiency and workflow[46] Market and Strategy - The overall economic environment has led to a decrease in the total number of projects in the template market, resulting in reduced total revenue for the company[46] - The company is adopting a more competitive pricing strategy to increase its market share in the infrastructure template market[46] - The company continues to diversify its business scope by participating in template engineering for public housing and public facilities[46] - The company has been awarded 6 new tenders during the review period, with a total contract value of approximately HKD 290.6 million[45] Financing and Treasury - The company maintained a financing cost of HKD 1,529,000, slightly higher than HKD 1,424,000 in the previous year[3] - The company's bank borrowings were approximately HKD 9 million as of September 30, 2025, unchanged from March 31, 2025[32] - The capital-to-equity ratio as of September 30, 2025, was approximately 145.0%, slightly down from 146.6% as of March 31, 2025[32] - The company maintains a prudent funding and treasury policy, closely monitoring liquidity to meet funding needs[33] Employment - The total number of employees decreased to 1,512 as of September 30, 2025, from 1,578 a year earlier, primarily due to a reduction in the scale of existing template engineering projects[43]

Group 1 - The company, Jiancheng Holdings (01630), announced that it expects to achieve a net profit of no more than 1 million HKD for the six months ending September 30, 2025, compared to a net profit of approximately 9.5 million HKD for the same period last year [1] - The board attributes the anticipated decline in net profit primarily to an impairment loss of approximately 13.2 million HKD under the expected credit loss model for the current period, whereas the loss for the previous year was about 1.1 million HKD [1]

Core Viewpoint - The company expects a significant decline in net profit for the six months ending September 30, 2025, with an estimated after-tax net profit of no more than 1 million HKD, down from approximately 9.5 million HKD in the same period last year [1] Financial Performance - The anticipated decrease in net profit is primarily attributed to an expected credit loss provision of approximately 13.2 million HKD during the current period, compared to a loss of about 1.1 million HKD in the previous year [1]

格隆汇11月24日丨建成控股(01630.HK)发布公告，截至2025年9月30日止六个月，集团将于本期间录得 除税后综合净溢利不多于100万港元，相比去年同期则录得除税后综合净溢利约950万港元。董事会认为 预期综合净溢利下降主要由于本期间拨备预期信贷亏损模式下的减值亏损约1320万港元，而去年则亏损 约110万港元。 ...