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: 萬順集團(控股)有限公司 呈交日期: 2025年12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) | 01746 | 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 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | 本月 ...

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10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: 萬順集團(控股)有限公司 呈交日期: 2025年11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) | 01746 | 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 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | 本月 ...

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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 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) | 01746 | 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 | | | | 1,000,000,000 | | 0 | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 1,000,000,000 | | 0 | | 1,000,000,000 | 公司名稱: 萬順集團(控股)有限公司 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. ...

MAN SHUN GROUP (HOLDINGS) LIMITED 萬順集團（控股）有限公司 (Incorporated in the Cayman Isalnds with limited liability) （於開曼群島註冊成立之有限公司） （Stock Code 股份代號：1746） NOTIFICATION LETTER 通知信函 Should you have any queries relating to this notification, please call the Branch Share Registrar's telephone hotline at (852) 2980 1333 from 9:00 a.m. to 6:00 p.m., Monday to Friday (excluding public holidays). By Order of the Board MAN SHUN GROUP (HOLDINGS) LIMITED Cheung Yuen Tung Chairman and Executive Director Note: Corporate Communi ...

（於開曼群島註冊成立之有限公司） （Stock Code 股份代號：1746） MAN SHUN GROUP (HOLDINGS) LIMITED 萬順集團（控股）有限公司 (Incorporated in the Cayman Islands with limited liability) 各位非登記證券持有人： NOTIFICATION LETTER 通知信函 Dear Non-Registered Holder, 24 September 2025 Man Shun Group (Holdings) Limited (the "Company") Notification of publication of the Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communications (Note ) are available on the Company's website at www. ...

Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 44,017,000, a decrease of 36.5% compared to HKD 69,388,000 for the same period in 2024[6] - Gross profit increased to HKD 9,370,000, representing a 48.5% increase from HKD 6,302,000 in the previous year[6] - The company reported a pre-tax loss of HKD 1,446,000, an improvement from a loss of HKD 1,900,000 in the same period last year, indicating a 23.8% reduction in losses[6] - Revenue from services transferred over time was HKD 28,884,000, down 35.7% from HKD 44,861,000 in the previous year[19] - Net installation services revenue increased to HKD 10,734,000, up 8.1% from HKD 9,928,000 in 2024[19] - Other income for the six months ended June 30, 2025, totaled HKD 1,529,000, a decline of 59.6% from HKD 3,782,000 in 2024[22] - Pre-tax loss for the six months ended June 30, 2025, was HKD 1,446,000, compared to a loss of HKD 1,840,000 in the same period of 2024[31] - Revenue decreased by approximately HKD 25,371,000 or 36.6% to HKD 44,017,000 for the first half of 2025, down from HKD 69,388,000 in the same period of 2024, primarily due to multiple projects nearing completion and fewer new projects[51] - Gross profit increased by approximately HKD 3,068,000 or 48.7% to HKD 9,370,000, with the gross profit margin rising from 9.1% to 21.3% due to a higher proportion of revenue from more profitable projects[53] Cash Flow and Assets - Cash and cash equivalents increased to HKD 79,537,000 from HKD 65,023,000, reflecting a growth of 22.4%[11] - The company’s operating cash flow for the period was HKD 14,637,000, a significant turnaround from an outflow of HKD 6,293,000 in the previous year[11] - Total assets decreased slightly to HKD 131,424,000 from HKD 134,840,000, a decline of 2.4%[8] - The net asset value as of June 30, 2025, was HKD 119,521,000, down from HKD 120,967,000 at the end of 2024, a decrease of 1.2%[8] - Trade and other receivables decreased to HKD 38,142,000 from HKD 50,828,000, a reduction of 25.2%[8] - Trade receivables, net of impairment losses, decreased to HKD 15,890,000 as of June 30, 2025, down from HKD 27,226,000 as of December 31, 2024, reflecting a decline of approximately 41.5%[40] - The total trade and other payables as of June 30, 2025, amount to HKD 12,162,000, down from HKD 14,274,000 as of December 31, 2024, representing a decrease of approximately 14.8%[42] - The total inventory as of June 30, 2025, is HKD 1,065,000, an increase from HKD 796,000 as of December 31, 2024, representing a growth of approximately 33.7%[38] Operational Focus - The company continues to focus on HVAC installation services in Hong Kong, with no new product launches or market expansions reported during the period[13] - The company operates solely in Hong Kong, with no additional geographical revenue sources reported[20] Employee and Administrative Costs - Employee costs, including director remuneration, decreased to HKD 11,587,000, down 7.5% from HKD 12,534,000 in 2024[24] - Administrative expenses increased to approximately HKD 12,307,000 from HKD 11,938,000, mainly due to higher legal and professional fees[56] Shareholder Information - As of June 30, 2025, Mr. Zhang Yuantong and Mr. Zhang Yuanqiu each hold 750,000,000 shares, representing 75% ownership in the company through Prime Pinnacle Limited[84] - Prime Pinnacle Limited is directly owned by Mr. Zhang Yuantong (51%) and Mr. Zhang Yuanqiu (49%)[85] - Major shareholders, including Prime Pinnacle and spouses of the directors, collectively hold 750,000,000 shares, equating to 75% of the company's equity[87] - The company has adopted a share option scheme to incentivize and reward eligible participants, allowing for the issuance of up to 10% of the total issued shares post-global offering, which amounts to 1,000,000,000 shares[90] - The share option plan restricts the number of shares granted to any eligible participant within a 12-month period to no more than 1% of the issued shares[91] - No share options have been granted under the share option plan since its adoption and until the date of this interim report[92] Corporate Governance - The board is committed to maintaining high corporate governance standards to enhance operational efficiency and shareholder returns[94] - The company has adopted the standard code of conduct for directors' securities transactions as per the listing rules[95] - The audit committee is responsible for safeguarding the group's assets and reviewing the effectiveness of financial reporting and internal controls[97] - The interim financial results for the reporting period were unaudited but reviewed by the audit committee[97] Future Outlook and Strategy - The group continues to enhance budget management and execution capabilities to ensure sustainable development[65] - The group plans to adopt prudent financial management strategies to pursue long-term stable business growth and provide consistent returns to shareholders[65] - The group maintains a debt-to-equity ratio of approximately 0.7% as of June 30, 2025, consistent with the previous year[70] - The company has no significant capital commitments as of June 30, 2025[72] - The company had no obligation to make any provisions for a legal case currently pending against one of its subsidiaries, with a potential claim amounting to HKD 872,000[49] - The group secured three new projects during the reporting period, with a total contract value of approximately HKD 103,000,000[65] - The group has no major foreign currency risk exposure as its monetary assets and liabilities are primarily denominated in HKD[79]

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8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: 萬順集團(控股)有限公司 呈交日期: 2025年9月1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) | 01746 | 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 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | 本月底法 ...

Core Viewpoint - The company reported a significant decline in revenue and a net loss for the first half of 2025, primarily due to a sluggish real estate market and slow growth in the construction industry in Hong Kong [1] Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 44.017 million, representing a year-on-year decrease of 36.56% [1] - The net loss for the period was HKD 1.446 million, which is a reduction of 21.41% compared to the previous year [1] - Basic loss per share was HKD 0.14 [1] Industry Context - The decline in performance is attributed to the downturn in the real estate sector and the slow growth in the construction industry in Hong Kong, which has affected developers' ability to build and reduced the number of new projects available for tender [1] - Several projects faced delays or suspensions in their commencement or construction progress during the reporting period [1]

Core Viewpoint - Wan Shun Group Holdings (01746) reported a significant decline in revenue and an increase in net loss for the six months ending June 30, 2025, primarily due to a sluggish real estate market and slow growth in the construction industry in Hong Kong [1] Financial Performance - The company achieved revenue of HKD 44.017 million, representing a year-on-year decrease of 36.56% [1] - The net loss for the period was HKD 1.446 million, which is a year-on-year decrease of 21.41% [1] - Basic loss per share was HKD 0.14 cents [1] Industry Context - The decline in revenue and increase in losses are attributed to the poor performance of the real estate sector in 2025 and the slow growth in the construction industry in Hong Kong [1] - The slowdown in the construction sector has affected developers' ability to build and has reduced the number of new projects available for tender [1] - Several projects faced delays or suspensions in their commencement and/or construction progress during the reporting period [1]

Group 1 - The company reported a revenue of HKD 44.017 million for the six months ending June 30, 2025, representing a year-on-year decrease of 36.6% [1] - Gross profit was HKD 9.37 million, showing a year-on-year increase of 48.7% [1] - The loss attributable to equity shareholders was HKD 1.446 million, an improvement from a loss of HKD 1.84 million in the same period last year [1] - Basic loss per share was HKD 0.14 [1]