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 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 歐化國際有限公司 | | | | 呈交日期: | 2026年2月3日 | | | | I. 法定/註冊股本變動 | 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.2.0 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) 01711 說明 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 800,000,000 0 800,000,000 增加 / 減少 (-) 0 0 本月底結存 800,000,000 0 800,000,000 足夠公眾持股量的確認(註4) | 根據《主板上市規則》第13.32D(1)條或第19A.28D(1)條 / 《GEM上市規則》第17.37D(1)條或第 ...

第 1 頁 共 10 頁 v 1.1.1 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: | 歐化國際有限公司 | | | 呈交日期: | 2026年1月2日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01711 | 說明 | | | | | | | | | 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 | | | 800,000,000 | | 0 | | 800,000,000 | | 增加 / 減少 (-) | | | 0 | | 0 ...

Core Viewpoint - The company Zhonglun New Materials (301565) highlights the low domestic localization rate of electrical-grade polypropylene resin, which is crucial for BOPP (Biaxially Oriented Polypropylene) film production, and emphasizes the reliance on overseas suppliers for raw materials [1] Group 1: Industry Insights - The core raw material for BOPP new energy film is electrical-grade polypropylene, with the current domestic localization rate remaining low [1] - Major domestic chemical enterprises are working on technological advancements for the production of electrical-grade polypropylene resin [1] - The BOPP capacitor film industry has high entry barriers, primarily due to the quality differences in raw materials and the maturity of production technology [1] Group 2: Company Strategy - The company primarily sources electrical-grade polypropylene from overseas suppliers such as Nordic Chemicals, Korean Oil, and Singapore TPC [1] - The quality of polypropylene resin directly impacts the performance of the final product, creating a foundational barrier to entry [1] - The maturity of stretching technology and the uniqueness of masterbatch formulations are critical competitive barriers in achieving special product performance [1]

• 2025/2026 Interim Report 歐化國際有限公司 ULFERTS INTERNATIONAL LIMITED (Incorporated in Hong Kong with limited liability) (於香港註冊成立之有限公司) (Stock Code 股份代號 : 1711) NOTIFICATION LETTER 通知信函 Dear Non-registered Shareholder (Note 1) , 11 December 2025 The following document(s) of Ulferts International Limited ("Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at https://www.UlfertsIntl.com and The Stock Exchange of Hong Kong Limited at https://www.hkexnews.hk ...

Dear Registered Shareholder(s), 11 December 2025 The following document(s) of Ulferts International Limited ("Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at https://www.UlfertsIntl.com and The Stock Exchange of Hong Kong Limited at https://www.hkexnews.hk (collectively "Websites"):- • 2025/2026 Interim Report If you have not provided us with an email address but now would like to receive an email notification of the publication of the Corporate ...

Financial Performance - Total revenue decreased to HKD 66.8 million for the six months ended September 30, 2025, compared to HKD 79.4 million in 2024, representing a decline of approximately 16.4%[4] - Gross profit for the same period was HKD 37.2 million, down from HKD 46.3 million in 2024, indicating a decrease of about 19.6%[4] - The net loss significantly narrowed to HKD 2.7 million, compared to a net loss of HKD 11.1 million in 2024, reflecting an improvement of approximately 75.7%[5] - Basic loss per share improved to HKD 0.33, down from HKD 1.39 in 2024[5] - Revenue for the six months ended September 30, 2025, was HKD 66,804,000, a decrease of 15.8% compared to HKD 79,375,000 for the same period in 2024[19] - Gross profit for the same period was HKD 37,232,000, down 19.5% from HKD 46,264,000 in 2024[19] - The company reported a loss before tax of HKD 2,658,000, an improvement from a loss of HKD 11,114,000 in the previous year[19] - The total comprehensive loss for the six months ended September 30, 2025, was HKD 2,658,000, compared to a loss of HKD 11,114,000 for the same period in 2024[21] - The company reported a loss attributable to equity holders of HKD 2,658,000 for the six months ended September 30, 2025, compared to a loss of HKD 11,114,000 for the same period in 2024, representing a significant improvement[36] Retail Segment Performance - Retail segment revenue accounted for HKD 62.6 million, which is 93.8% of total revenue, compared to 94.1% in 2024[4] - The retail furniture segment generated revenue of HKD 62,638,000, down 16% from HKD 74,664,000 year-over-year[29] - The wholesale furniture segment saw revenue decline to HKD 2,300,000 from HKD 3,708,000, representing a 38% decrease[29] - The retail income from "Premium Furniture" and "Furniture" stores combined was HKD 26.9 million, accounting for 43.0% of total retail income[4] - "at • home" retail income was HKD 18.7 million, representing 29.8% of total retail income[4] Operational Metrics - The group operates a total of 23 retail points in Hong Kong as of September 30, 2025, including 1 "Premium Furniture" store, 2 "Furniture" stores, and 4 "at • home" stores[10] - Employee count decreased to 108 from 122 in the previous year, with total employee costs at HKD 20,500,000, down from HKD 22,500,000[17] - The company plans to enhance store operations and service quality to increase customer engagement amid a challenging economic environment[15] - The company has established a strong online shopping platform to expand market coverage and revenue[7] Financial Position - As of September 30, 2025, the company's cash and cash equivalents were HKD 22,200,000, down from HKD 27,300,000 as of March 31, 2025[16] - Current assets were approximately HKD 70,700,000, while current liabilities were about HKD 49,200,000, resulting in a current ratio of 1.4[16] - The company had no bank borrowings, maintaining a debt ratio of zero[16] - Inventory as of September 30, 2025, was HKD 29,323,000, slightly down from HKD 30,230,000 as of March 31, 2025[20] - The company recorded a net cash inflow from operating activities of HKD 5,317,000, a significant drop from HKD 15,525,000 in the previous year[22] - The company's cash and cash equivalents decreased by HKD 5,091,000, ending the period at HKD 22,177,000, down from HKD 34,911,000[22] - The cost of goods sold for the six months was HKD 29,572,000, down from HKD 33,111,000, reflecting a 10% reduction[31] Corporate Governance and Compliance - The company has complied with all corporate governance code provisions as per the listing rules during the reporting period[50] - The board of directors has confirmed compliance with the securities trading code during the reporting period[51] - The interim financial statements have not been reviewed or audited by the company's auditor, but have been reviewed by the audit committee[53] Related Party Transactions - Related party transactions included sales of HKD 144,000 and lease payments of HKD 1,112,000 for the six months ended September 30, 2025, compared to HKD 519,000 and HKD 944,000 respectively in 2024[41] - Total remuneration for key management personnel was HKD 2,165,000 for the six months ended September 30, 2025, a decrease from HKD 3,396,000 in the same period of 2024[41] Shareholder Information - The company has adopted a share option scheme since January 8, 2018, with an authorized limit of 80,000,000 shares available for grant[49] - No share options have been granted under the share option scheme since its adoption[49] - No other individuals or entities were reported to have interests in the company's shares or related securities as of September 30, 2025[48] Management and Ownership - Mr. Yang holds significant equity interests in various affiliated companies, including 4,121,416,834 shares (74.71%) in Emperor International Holdings Limited[45] - Emperor Entertainment Hotel Limited has Mr. Yang holding 636,075,041 shares, representing 53.52% of the issued shares[45] - Mr. Yang also holds 4,298,630,000 shares (59.24%) in Emperor Watch and Jewellery Limited[45] Liabilities and Provisions - Trade receivables as of September 30, 2025, totaled HKD 2,709,000, an increase from HKD 2,258,000 as of March 31, 2025, with receivables aged over one month rising from HKD 1,741,000 to HKD 1,135,000[38] - Trade payables and notes payable increased to HKD 3,403,000 as of September 30, 2025, compared to HKD 1,012,000 as of March 31, 2025, with payables due within one month rising significantly from HKD 955,000 to HKD 2,863,000[39] - The company has not made any provisions for contingent liabilities, with a bank guarantee related to a lease agreement amounting to HKD 387,000 as of September 30, 2025, down from HKD 2,187,000[40]

Core Viewpoint - The company has announced the resignation of Ernst & Young as its auditor due to a failure to reach an agreement on the proposed audit fees for the fiscal year ending March 31, 2026 [1] Group 1 - The resignation of Ernst & Young will take effect from December 8, 2025, at the request of the board [1] - The company has decided to appoint Zheng Zheng CPA Limited as the new auditor to fill the temporary vacancy left by Ernst & Young, effective from December 8, 2025 [4] - The term of the new auditor will last until the conclusion of the next annual general meeting of the company [4]

Core Viewpoint - The company has announced the resignation of its auditor, Ernst & Young, due to a failure to reach an agreement on the proposed audit fees for the fiscal year ending March 31, 2026 [1] Group 1 - The resignation of Ernst & Young will take effect from December 8, 2025, at the request of the board [1] - The company has decided to appoint Zheng Zheng CPA Limited as the new auditor to fill the vacancy left by Ernst & Young, effective from December 8, 2025 [1] - The term of the new auditor will last until the conclusion of the next annual general meeting of the company [1]

Core Viewpoint - The company announced the resignation of Ernst & Young as its auditor due to a failure to reach an agreement on the proposed audit fees for the fiscal year ending March 31, 2026 [1] Group 1 - The resignation of Ernst & Young will take effect from December 8, 2025, as requested by the company's board [1] - The audit committee has recommended the appointment of Zheng Zheng CPA Limited as the new auditor to fill the vacancy left by Ernst & Young [1] - The new auditor's term will last until the conclusion of the next annual general meeting of the company [1]

Group 1 - The company announced the resignation of Ernst & Young as its auditor due to a failure to reach an agreement on the proposed audit fees for the fiscal year ending March 31, 2026 [1] - The board has decided to appoint Zheng Zheng CPA Limited as the new auditor effective from December 8, 2025, to fill the vacancy left by Ernst & Young's resignation [1] - The appointment of the new auditor will last until the conclusion of the next annual general meeting of the company [1]