Financial Performance - The company's revenue for the year ended December 31, 2025, decreased by approximately HKD 61.7 million or about 13.2% to approximately HKD 406.7 million compared to the previous year[2]. - Gross profit for the year ended December 31, 2025, was HKD 7.7 million, representing a decline of 55.4% from HKD 17.3 million in the previous year[2]. - The company recorded a loss before tax of approximately HKD 22.4 million for the year ended December 31, 2025, compared to a profit of HKD 9.9 million for the year ended December 31, 2024[2]. - The company reported a net loss of HKD 22.4 million for the year ended December 31, 2025, compared to a profit of HKD 9.9 million in the previous year[5]. - The group reported a revenue decrease of approximately HKD 61.7 million or 13.2%, totaling around HKD 406.7 million for the year, compared to HKD 468.4 million in the previous year[44]. - The group recorded a gross profit of approximately HKD 7.7 million, down from HKD 17.3 million in the previous year[44]. - The net loss attributable to the company was approximately HKD 22.4 million, compared to a net profit of HKD 9.9 million in the previous year[44]. - Other income decreased by approximately 57.9% to HKD 1.6 million, down from HKD 3.8 million in the previous year[45]. - The group confirmed an impairment loss of approximately HKD 13.3 million, compared to a reversal of impairment of HKD 2.3 million in the previous year[47]. - The company reported a pre-tax loss of HKD 22,406,000 for the year ending December 31, 2025, compared to a profit of HKD 9,868,000 in 2024, indicating a significant decline in performance[33]. Assets and Liabilities - Non-current assets decreased from HKD 5.0 million in 2024 to HKD 2.7 million in 2025[6]. - Current assets decreased from HKD 234.3 million in 2024 to HKD 166.7 million in 2025[6]. - Current liabilities increased from HKD 261.5 million in 2024 to HKD 161.8 million in 2025[6]. - The company's total assets less current liabilities showed a decline from HKD 7.6 million in 2024 to a negative HKD 22.1 million in 2025[6]. - The company's equity position deteriorated, with total equity showing a net loss of HKD 22.9 million in 2025 compared to a loss of HKD 0.5 million in 2024[7]. - The group reported a net loss of approximately HKD 22,411,000 for the year ending December 31, 2025, with current liabilities and net liabilities of approximately HKD 27,170,000 and HKD 22,948,000 respectively[18]. - As of December 31, 2025, the group's cash and cash equivalents decreased by approximately HKD 21.5 million to about HKD 11.1 million, resulting in a net cash position of approximately negative HKD 0.8 million[56]. - The current ratio as of December 31, 2025, was 0.90, down from 1.03 in the previous year, indicating a decline in liquidity[58]. Shareholder Information - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2025[2]. - The company did not declare any dividends for the year ending December 31, 2025, consistent with the previous year[31]. - The annual general meeting is scheduled for May 29, 2026, with a suspension of share transfer registration from May 26 to May 29, 2026[73]. - The company completed a placement of 266,400,000 shares at a price of HKD 0.153 per share, representing approximately 16.67% of the company's issued share capital post-placement[77]. - The total proceeds from the placement amounted to approximately HKD 40.8 million, with a net amount of approximately HKD 39.9 million after deducting placement commissions and related expenses, equating to a net price of approximately HKD 0.150 per share[78]. - The placement agreement was amended to extend the final deadline from January 28, 2026, to February 11, 2026[77]. - The placement was successfully completed on February 11, 2026, with all conditions met[77]. Operational and Strategic Outlook - The group is actively monitoring its operational situation and implementing cost control measures to achieve sustainable cash flow[20]. - The group plans to conduct a detailed review of its existing business operations and financial condition to formulate sustainable business strategies for future development[43]. - The group aims to explore business and investment opportunities in various sectors and regions, considering potential asset sales, acquisitions, and business rationalization[43]. - The group has received government grants of approximately HKD 60,000 related to a training program for graduates in the construction industry[29]. - The group has implemented measures to minimize credit risk, including the establishment of credit limits and monitoring procedures for overdue debts[50]. Governance and Compliance - The board of directors has adopted and complied with all applicable corporate governance codes, ensuring transparency and accountability[68]. - The audit committee, composed of three independent non-executive directors, has reviewed the audited annual results for the year ended December 31, 2025[74]. - There were no significant developments in litigation affecting the group's business operations during the reporting period[67]. - The company has not engaged in any purchases, sales, or redemptions of its securities during the year ended December 31, 2025[71]. - The chairman and CEO roles are held by the same individual, which the board believes enhances the efficiency of strategy formulation and implementation[69]. Employee and Cost Management - Total employee costs decreased to HKD 15,275,000 in 2025 from HKD 20,722,000 in 2024, reflecting a reduction of approximately 26.5%[30]. - The group employed a total of 57 employees as of December 31, 2025, down from 75 employees in 2024, with employee costs for the year amounting to approximately HKD 15.3 million, a decrease from HKD 20.7 million in 2024[66]. - Administrative expenses increased by approximately HKD 3.3 million or 23.1% to about HKD 17.6 million, primarily due to legal and professional fees related to arbitration[52]. - Financing costs rose by approximately 60.0% to about HKD 0.8 million, attributed to increased interest on bank borrowings[53]. Impairment and Receivables - The group recognized impairment losses of HKD 13,328,000 in 2025, compared to a reversal of HKD 2,262,000 in 2024, indicating a significant shift in financial health[28]. - Trade receivables increased significantly to HKD 114,929,000 in 2025 from HKD 22,615,000 in 2024, representing a growth of approximately 408.5%[36]. - The company reported overdue trade receivables of HKD 30,837,000 as of December 31, 2025, compared to HKD 17,854,000 in 2024, indicating an increase of about 72.7%[37]. - The group recognized impairment losses of approximately HKD 10.7 million on trade receivables and HKD 2.6 million on contract assets, compared to a reversal of impairment of HKD 3.0 million and a loss of HKD 0.6 million in the previous year[51]. - The group reported trade receivables and receivables from customers amounting to approximately HKD 89.9 million, representing 81% of total receivables, a significant increase from 36% in the previous year[51].

Financial Performance - The company's revenue for the year ended December 31, 2025, decreased by approximately HKD 61.7 million or about 13.2% to approximately HKD 406.7 million compared to the previous year[2]. - Gross profit for the year ended December 31, 2025, was HKD 7.7 million, representing a decline of 55.4% from HKD 17.3 million in the previous year[2]. - The company recorded a loss before tax of approximately HKD 22.4 million for the year ended December 31, 2025, compared to a profit of HKD 9.9 million for the year ended December 31, 2024[2]. - The company's net loss attributable to owners for the year ended December 31, 2025, was HKD 22.4 million, compared to a profit of HKD 9.9 million in the previous year[5]. - The company reported a basic loss per share of HKD 1.7 for the year ended December 31, 2025, compared to earnings of HKD 0.7 per share in the previous year[4]. - The group reported a net loss of approximately HKD 22,411,000 for the year ending December 31, 2025, with current liabilities and net liabilities of approximately HKD 27,170,000 and HKD 22,948,000 respectively[18]. - The company reported a pre-tax loss of HKD 22,406,000 for the year ending December 31, 2025, compared to a profit of HKD 9,868,000 in 2024, indicating a significant decline in performance[33]. - The group reported a revenue decrease of approximately HKD 61.7 million or 13.2%, totaling around HKD 406.7 million for the year, compared to HKD 468.4 million in the previous year[44]. - The group recorded a gross profit of approximately HKD 7.7 million, down from HKD 17.3 million in the previous year[44]. - Other income decreased by approximately 57.9% to about HKD 1.6 million, down from HKD 3.8 million in the previous year[45]. Assets and Liabilities - Non-current assets decreased from HKD 5.0 million in 2024 to HKD 2.7 million in 2025[6]. - Current assets decreased from HKD 234.3 million in 2024 to HKD 166.7 million in 2025[6]. - Current liabilities increased from HKD 261.5 million in 2024 to HKD 161.8 million in 2025[6]. - The company's total assets less current liabilities showed a decline from HKD 7.6 million in 2024 to a negative HKD 22.1 million in 2025[6]. - As of December 31, 2025, the group's cash and cash equivalents decreased by approximately HKD 21.5 million to about HKD 11.1 million, resulting in a net cash position of approximately negative HKD 0.8 million[56]. - The current ratio as of December 31, 2025, was 0.90, down from 1.03 in the previous year, indicating a decline in liquidity[58]. - Trade receivables increased significantly to HKD 114,929,000 in 2025 from HKD 22,615,000 in 2024, representing a growth of approximately 408.5%[36]. - The company reported overdue trade receivables of HKD 30,837,000 as of December 31, 2025, compared to HKD 17,854,000 in 2024, indicating an increase of about 72.7%[37]. - Trade payables rose to HKD 108,987,000 in 2025 from HKD 49,362,000 in 2024, marking an increase of approximately 120.5%[38]. - The aging analysis of trade payables showed an increase in amounts due within 1 to 30 days to HKD 75.4 million from HKD 42.4 million in the previous year[40]. Dividends and Shareholder Information - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2025[2]. - The company did not declare or propose any dividends for the year ending December 31, 2025, consistent with the previous year[31]. - The annual general meeting is scheduled for May 29, 2026, with a share transfer registration suspension from May 26 to May 29, 2026[73]. - The independent auditor's report for the consolidated financial statements for the year ended December 31, 2025, has been prepared but does not include any adjustments related to the uncertainties affecting the company's ability to continue as a going concern[81]. - The company's annual report for the year ended December 31, 2025, will be sent to shareholders and published on its website[79]. Capital Structure and Financing - The group is actively reviewing its capital structure and implementing cost control measures to ensure sustainable operational cash flow[20]. - The group successfully placed 266,400,000 new shares at a price of HKD 0.153 per share on February 11, 2026, raising approximately HKD 40,800,000, with net proceeds of about HKD 39,900,000 after deducting commissions and related expenses[20]. - The total proceeds from the placement amounted to approximately HKD 40.8 million, with a net amount of approximately HKD 39.9 million after deducting placement commissions and related expenses, equating to a net price of approximately HKD 0.150 per share[78]. - The company has extended the deadline for the placement agreement from January 28, 2026, to February 11, 2026, to facilitate the completion of the placement[77]. - The placement agreement was finalized on February 11, 2026, with all conditions met[77]. - The company plans to use the proceeds from the placement for further details as disclosed in previous announcements dated January 12, January 13, January 23, and February 11, 2026[78]. Impairment and Financial Health - The group recognized impairment losses of HKD 13,328,000 in 2025, compared to a reversal of HKD 2,262,000 in 2024, indicating a significant shift in financial health[28]. - The group confirmed an impairment loss of approximately HKD 13.3 million under the expected credit loss model, compared to a reversal of HKD 2.3 million in the previous year[47]. - The group recognized impairment losses of approximately HKD 10.7 million on trade receivables and HKD 2.6 million on contract assets, compared to a reversal of impairment of HKD 3.0 million and a loss of HKD 0.6 million in the previous year[51]. - The group has assessed various plans to improve its liquidity situation, ensuring sufficient operational funds to meet financial obligations for at least the next twelve months[19]. - As of December 31, 2025, the group's pledged bank deposits and cash equivalents were approximately HKD 7,165,000 and HKD 3,923,000 respectively, indicating significant uncertainty regarding the group's ability to continue as a going concern[18]. Operational and Strategic Initiatives - The group aims to explore business and investment opportunities in various sectors and regions to enhance long-term growth potential[43]. - The group plans to continue consolidating its business in the construction industry while seeking investment opportunities to enhance long-term growth potential[62]. - The group plans to utilize its expertise in real estate development and financial services to expand revenue sources[43]. - The group received government grants of approximately HKD 60,000 related to a training program for graduates in the construction industry[29]. - The group has no significant foreign exchange risk as most transactions are denominated in HKD[61]. Employee and Administrative Costs - Total employee costs decreased to HKD 15,275,000 in 2025 from HKD 20,722,000 in 2024, reflecting a reduction of approximately 26.5%[30]. - The group employed a total of 57 employees as of December 31, 2025, down from 75 employees in 2024, with employee costs approximately HKD 15.3 million, a decrease from HKD 20.7 million in 2024[66]. - Administrative expenses increased by approximately HKD 3.3 million or 23.1% to about HKD 17.6 million, primarily due to legal and professional fees related to arbitration[52]. - Financing costs rose by approximately 60.0% to about HKD 0.8 million, attributed to increased interest on bank borrowings[53]. Financial Reporting Standards - The consolidated financial statements are presented in Hong Kong dollars (HKD) to meet the needs of shareholders and investors[9]. - The group has applied the new Hong Kong Financial Reporting Standards (HKFRS) for the first time, which became mandatory this year, but it will not have a significant impact on the financial position and performance for the current and prior years[10]. - The group has not early adopted the newly issued HKFRS that are not yet effective, including HKFRS 9 and HKFRS 7, which relate to financial instruments and contracts relying on natural energy[11]. - The directors expect that the application of other new HKFRS will not have any significant impact on the consolidated financial statements in the foreseeable future, except for HKFRS 18, which is expected to affect the structure and presentation of the consolidated income statement[12]. - The consolidated financial statements are prepared on a historical cost basis, except for certain financial instruments measured at fair value at the end of each reporting period[13]. - Fair value measurements consider the characteristics of the asset or liability being valued, and the group uses observable inputs to determine fair value[15]. - The consolidated financial statements are prepared on a going concern basis, assuming the group will continue its normal business activities and meet its financial obligations within the next twelve months[17]. - Management continues to closely monitor the group's liquidity position, including conducting sensitivity analyses on various factors to ensure sufficient liquidity[17].

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的內容概不 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 會 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的任何損失承擔任何責 任。 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股份代號：1826） 盈利警告 本 公 告 由 豐 展 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09條及香港法例第571 章證券及期貨條例第XIVA部 內 幕 消 息 條 文（定 義 見 上 市 規 則）作 出。 豐展控股有限公司 主 席、行 政 總 裁 兼 執 行 董 事 吳建韶 香 港，二 零 二 六 年 三 月 十 九 日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 吳 建 韶 先 生（主 席 兼 行 政 總 裁）及 余 宏 翔 先 生；獨 立 非 執 行 董 事 伍 頌 慈 女 士、黃 鎮 華 先 生 及 任 瑜 女 士 ...

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的內容概不 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 會 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的任何損失承擔任何責 任。 董事會會議通告 豐 展 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」）會 （「董事會」）謹 此 宣 佈，董 事 會 會 議 將 於 二 零 二 六 年 三 月 二 十 七 日（星 期 五）舉 行， 藉 以（其 中 包 括）考 慮 及 酌 情 批 准 本 集 團 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 的 經 審 核 年 度 業 績 以 及 就 派 付 末 期 股 息（如 有）作 出 的 推 薦 建 議。 承董事會命 豐展控股有限公司 主席、行政總裁兼執行董事 吳建韶 香 港，二 零 二 六 年 三 月 十 六 日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 吳 建 韶 先 生（主 席 兼 行 政 總 裁）及 余 宏 翔 先 生；獨 立 非 執 行 ...

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 | | | 第 1 頁 共 10 頁 v 1.2.0 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 致：香港交易及結算所有限公司 公司名稱: 豐展控股有限公司 呈交日期: 2026年3月5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) | 01826 | 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 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.01 ...

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2月28日 | | 狀態: 新提交 | 致：香港交易及結算所有限公司 公司名稱: 豐展控股有限公司 呈交日期: 2026年3月2日 | 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) | 01826 | 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 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.01 | HKD | | 40,000,000 | 本 ...

Group 1 - The core point of the article is that Fengzhan Holdings (01826) has completed a share placement agreement, with shareholders depositing stocks valued at HKD 47.42 million, accounting for 20% of the total [1][1][1] - The share placement agreement was revised by a supplementary agreement dated January 23, 2026, and all conditions of the agreement have been met [1][1][1] - The completion of the placement took place on February 11, 2026 [1][1][1]

Core Viewpoint - The company Fengzhan Holdings (01826.HK) has successfully completed a placement of 266,400,000 shares, representing approximately 16.67% of the enlarged issued share capital, at a price of HKD 0.153 per share [1] Group 1 - The total amount raised from the placement is approximately HKD 40.8 million, with a net amount of about HKD 39.9 million after deducting placement commissions and other related expenses, equating to a net price of approximately HKD 0.150 per share [2] - The net proceeds from the placement will be allocated as follows: approximately 30% (around HKD 12 million) for headquarters expansion and upgrades, including renovations, furniture, fixtures, office equipment, rental deposits, three years of rent, and related expenses [2] - Approximately 25% (around HKD 10 million) will be used for the payment of directors and employee salaries to support business expansion and operations [2] - About 20% (around HKD 8 million) will be allocated to offset existing shareholder losses [2] - Approximately 15% (around HKD 6 million) will be used to pay professional fees [2] - The remaining 10% (around HKD 3.9 million) will be utilized for other daily operating expenses [2]

Group 1 - The company, Fengzhan Holdings (01826), announced that all conditions of the placement agreement have been met, and the placement was completed on February 11, 2026 [1] - A total of 266.4 million shares were placed, representing approximately 16.67% of the company's issued share capital after the placement [1] - The placement shares were sold at a price of HKD 0.153 per share to no fewer than six subscribers [1] Group 2 - Following the completion of the placement, the public float of shares increased from approximately 22.17% to about 35.14%, restoring the public holding to the minimum percentage required by listing rules [1]

Group 1 - The core point of the article is that Fengzhan Holdings (01826) has completed a placement of 266.4 million shares, which represents approximately 16.67% of the company's issued share capital after the placement [1] - The placement was conducted at a price of HKD 0.153 per share and was allocated to no less than six subscribers [1] - Following the completion of the placement, the public shareholding increased from approximately 22.17% to about 35.14%, restoring the public holding to the minimum percentage required by listing rules [1]