Core Viewpoint - China Smart Technology (01796) reported a revenue of approximately HKD 110 million for the six months ending September 30, 2025, representing a year-on-year decrease of 20.49% [1] - The company recorded a loss attributable to equity holders of approximately HKD 3.746 million, which is a 64.2% reduction compared to the previous year [1] - The decrease in revenue is primarily due to the completion of large projects and a reduction in the number of large projects available in the market [1] Financial Performance - Revenue for the period was approximately HKD 110 million, down 20.49% year-on-year [1] - Loss attributable to equity holders was approximately HKD 3.746 million, a decrease of 64.2% year-on-year [1] - Basic loss per share was HKD 0.78 cents [1] Project and Market Analysis - The decline in revenue is attributed to the completion of large projects undertaken by the company [1] - There has been a noticeable decrease in the number of large projects available for the company to undertake in the market [1]

Core Viewpoint - China Digital Technology (01796.HK) reported a significant decline in revenue for the six months ending September 30, 2025, primarily due to the completion of large projects and a decrease in available large projects in the market [1] Financial Performance - The company's revenue decreased by approximately HKD 28.4 million or 20.5% to about HKD 110 million, compared to approximately HKD 139 million for the same period in 2024 [1] - The net loss for the company was approximately HKD 3.7 million, which is a reduction of about HKD 6.8 million compared to a net loss of approximately HKD 10.5 million in the same period of 2024 [1] - The reduction in net loss was mainly attributed to a decrease in administrative and other operating expenses [1]

Financial Performance - For the six months ending September 30, 2025, the group's revenue decreased by approximately HKD 28.4 million or 20.5% to about HKD 110.1 million, compared to HKD 138.5 million for the same period in 2024[12][13] - The group's gross profit slightly decreased by approximately HKD 0.1 million or 3.0% to about HKD 5.1 million, with a gross profit margin of approximately 4.6%, up from 3.8% in the previous period[14] - For the six months ended September 30, 2025, the group recorded a net loss of approximately HKD 3.7 million, a decrease of about HKD 6.8 million or 64.8% compared to the net loss of approximately HKD 10.5 million for the same period in 2024[18] - The company's financing activities generated a net cash inflow of HKD 2,513,000, compared to a cash outflow of HKD 500,000 in the previous year[36] - The company reported a loss attributable to equity holders of HKD 3,746,000 for the six months ended September 30, 2025, compared to a loss of HKD 10,465,000 in the same period of 2024, indicating an improvement of approximately 64.1%[55] - Basic loss per share for the six months ended September 30, 2025, was HKD 0.78, compared to HKD 2.18 for the same period in 2024, reflecting a significant reduction in losses[55] Revenue and Expenses - The decrease in revenue was primarily due to the completion of large projects and a reduction in the number of large projects available in the market[13] - Administrative and other operating expenses, along with expected credit loss provisions, amounted to approximately HKD 9.4 million, a reduction of HKD 3.5 million or 27.0% from approximately HKD 12.9 million in the same period of 2024[16] - Financial costs decreased to approximately HKD 2.1 million, down by HKD 0.7 million or 23.4% from approximately HKD 2.8 million for the same period in 2024, primarily due to a reduction in the average interest rate on borrowings[17] - The total employee costs for the six months ended September 30, 2025, were approximately HKD 8.9 million, a decrease from approximately HKD 12.2 million for the same period in 2024[28] - Employee costs, including directors' emoluments, totaled HKD 8,935,000 for the six months ended September 30, 2025, down from HKD 12,161,000 in the same period of 2024, a decrease of approximately 26.5%[51] Cash Flow and Liquidity - The total cash and cash equivalents as of September 30, 2025, were approximately HKD 44.3 million, an increase from approximately HKD 43.1 million as of March 31, 2025, due to a net cash inflow of approximately HKD 1.2 million from operating and financing activities[19] - The company reported a net cash outflow from operating activities of HKD 1,332,000 for the six months ended September 30, 2025, an improvement from HKD 10,362,000 in the same period last year[36] - Cash and bank balances reached HKD 44,270,000 as of September 30, 2025, compared to HKD 43,089,000 as of March 31, 2025[65] Assets and Liabilities - The group's debt-to-equity ratio increased from approximately 82.8% as of March 31, 2025, to approximately 93.5% as of September 30, 2025, mainly due to an increase in borrowings[19] - The total liabilities increased from HKD 63,313,000 to HKD 67,903,000, marking an increase of approximately 7.5%[34] - The total assets minus current liabilities amounted to HKD 140,717,000, compared to HKD 139,873,000 as of March 31, 2025, reflecting a slight increase of 0.6%[33] - The company's non-current assets decreased from HKD 1,625,000 to HKD 1,160,000, representing a decline of approximately 28.5%[33] - Trade and other receivables decreased from HKD 25,541,000 to HKD 17,691,000, a reduction of about 30.8%[33] Business Outlook and Strategy - The economic outlook for Hong Kong in the second half of 2025 is expected to remain stable with a GDP growth rate projected between 2% and 3%[12] - The company is actively exploring new business opportunities, particularly in the Web3.0 and new energy sectors, which are strongly supported by government policies[12] - The group aims to maintain flexibility and enhance resilience to thrive in the changing economic environment in mainland China and Hong Kong[12] Shareholder Information - Major shareholders include China Sports Asset Management Co., Ltd., holding 360,000,000 shares, representing 75% of the total issued share capital[77] - The company has adopted a share option scheme allowing for a maximum of 48,000,000 shares to be granted, which is 10% of the issued shares as of the report date[80] - The company has not purchased, sold, or redeemed any of its securities during the six months ending September 30, 2025[88] - The company has maintained sufficient public float as required by listing rules as of September 30, 2025[91] Corporate Governance - The company has adopted and complied with the Corporate Governance Code during the reporting period[93] - The Audit Committee, consisting of three independent non-executive directors, reviewed and approved the interim financial statements for the six months ending September 30, 2025[96]

Group 1 - The company METASPACEX (01796.HK) announced that it will hold a board meeting on November 27, 2025, to approve the interim results announcement for the six months ending September 30, 2025 [1] - The board meeting will also consider the distribution of an interim dividend, if applicable [1]

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 份 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。 Metaspacex Limited 中國數智科技集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號︰1796） 更改本公司網站 中 國 數 智 科 技 集 團 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，本 公 司 網 站 已 由「www.metaspacex.hk 」變 更 為「www.01796.com.cn 」，自 本 公 告 日 期 起 生 效。 本 公 司 日 後 遞 交 以 刊 登 於 香 港 聯 合 交 易 所 有 限 公 司 網 站 的 所 有 公 告、通 告 或 其 他 文 件，亦 將 刊 登 於 本 公 司 的 新 網 站。 承董事會命 中國數智科技集團有限公司 行政總裁兼執行董事 康睿鵬 香 港，二 零 二 五 年 十 一 月 三 ...

承董事會命 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 份 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。 Metaspacex Limited 中國數智科技集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號︰1796） 董事會會議日期 中 國 數 智 科 技 集 團 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，本 公 司 將 於 二 零 二 五 年 十 一 月 二 十 七 日（星 期 四）舉 行 董 事 會 會 議，藉 以（其 中 包 括）批 准 本公司及其附屬公司截至二零二五年九月三十日止六個月之中期業績公告及 其 發 佈，並 考 慮 派 發 中 期 股 息（如 有）。 中國數智科技集團有限公司 行政總裁兼執行董事 康睿鵬 香 港，二 零 二 五 年 十 一 月 三 日 於 本 公 告 日 期，董 事 會 成 員 包 括 執 行 董 事 康 睿 ...

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: 中國數智科技集團有限公司 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) | 01796 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | 本月底法定/註冊股本總額： HKD 10 ...

Core Insights - The article discusses the compliance practices of SanNiuHuiXuan, highlighting its innovative model of "consumption as accumulation of compliance rights" and the establishment of a supervisory group to enhance operational transparency and institutional safeguards [1][3][17] Group 1: Business Model and Innovation - SanNiuHuiXuan's core innovation involves reconstructing the consumer value chain by converting daily purchasing behaviors into accumulable contribution values linked to a compliance rights auction system [3][5] - The platform utilizes blockchain technology to ensure that contribution values generated from purchases are immutable and traceable, allowing users to bid for compliance rights through engaging auction mechanisms [3][5] - The business logic is supported by deep integration with the real industry chain, implementing a "C2F order + compliance capital support" dual-drive strategy to provide stable orders to partner factories [5][9] Group 2: Compliance and Supervision - The establishment of a special supervisory group marks a significant step in ensuring user rights and fund security, with comprehensive monitoring of the platform's operations, including fund custody and data security [7][15] - A multi-layered protection system for fund security has been set up, with all user funds independently managed by a third-party institution holding a central bank payment license, ensuring complete isolation from operational funds [7][9] - The supervisory group emphasizes the importance of balancing innovation with regulatory compliance, aiming to create a transparent operational system that can serve as a model for similar platforms [15][16] Group 3: Future Plans and Industry Impact - SanNiuHuiXuan aims to integrate 1,500 factories and promote 100 industry brands for capitalized development between 2025 and 2030, targeting an annual circulation scale exceeding 1 trillion yuan [13][19] - The platform's compliance practices are seen as a potential benchmark for the industry, addressing the challenge of balancing incentive design with risk prevention in the context of shared consumer and industrial value [15][17] - The initiative is positioned to redefine the connection between consumption and industrial value, fostering a new ecosystem in the digital economy where every consumer contribution is recognized and rewarded [17][19]

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 FF301 致：香港交易及結算所有限公司 公司名稱: 中國數智科技集團有限公司 呈交日期: 2025年10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) | 01796 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | 1,000,000,000 | | HKD | | 0.01 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 ...

Core Viewpoint - METASPACEX (01796.HK) has adopted "China Digital Technology Group Co., Ltd." as its Chinese dual foreign name, effective immediately [1] Company Name Change - The Chinese stock abbreviation "中国数智科技" will take effect from 9:00 AM on October 3, 2025 [1] - The English stock abbreviation "METASPACEX" and the stock code "1796" will remain unchanged, along with other trading arrangements related to the shares [1]