閣 下 如 對 本 通 函 任 何 內 容 或 擬 採 取 的 行 動 有 任 何 疑 問，應 諮 詢 閣 下 的 股 票 經 紀 或 其 他 註 冊 證 券 商、銀 行 經 理、律 師、專 業 會 計 師 或 其 他 專 業 顧 問。 閣 下 如 已 售 出 或 轉 讓 名 下 所 有 飛 揚 國 際 控 股（集 團）有 限 公 司 的 股 份，應 立 即 將 本 通 函 及 隨 附 的 代 表 委 任 表 格 送 交 買 主 或 承 讓 人 或 經 手 買 賣 或 轉 讓 的 銀 行、股 票 經 紀 或 其 他 代 理 商，以 便 轉 交 買 主 或 承 讓 人。 此 乃 要 件 請 即 處 理 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 通 函 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 對 因 本 通 函 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。 Feiyang Int ...

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock Code: 1901) （股份代號：1901） NOTIFICATION LETTER 通知信函 Dear Registered Shareholders. Feiyang International Holdings Group Limited (the "Company") – Notice of publication of 2024 Annual Report (the "Current Corporate Communication") on website The English and Chinese versions of the Current Corporate Communication are now available on the Company's website at www.iflying.com and the website of The Stock Exchange of Hong Kong Limite ...

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock Code: 1901) （股份代號：1901） NOTIFICATION LETTER 通知信函 Dear Non-registered Holder(s) (Note 1) Feiyang International Holdings Group Limited (the "Company") – Notice of publication of 2024 Annual Report (the "Current Corporate Communication") on website The English and Chinese versions of the Current Corporate Communication are available on the Company's website at www.iflying.com and the website of The Stock Exchange of Hong Kong L ...

Financial Performance - The total revenue for the fiscal year ending December 31, 2024, increased significantly to RMB 715.9 million from RMB 534.3 million in the previous year, marking a growth of approximately 33.9%[7] - The company reported a loss of RMB 54.8 million for the current year, compared to a loss of RMB 11.6 million in the previous year, primarily due to a financial asset impairment loss of RMB 50.4 million[7] - The company's total revenue increased significantly from RMB 534.3 million to RMB 715.9 million, representing a growth of 34.0% year-over-year[19] - The company recorded a net loss of RMB 54.8 million for the year, compared to a net loss of RMB 11.6 million in the previous year[15] - The loss attributable to the owners of the company for the year was RMB 42.0 million, compared to RMB 9.6 million last year[50] Tourism Industry Outlook - The domestic tourism consumption in China is expected to reach new highs, surpassing pre-pandemic levels, with an estimated 6 billion domestic tourist trips in 2024[7] - The outbound tourism sector in China is projected to recover strongly, with expected tourist numbers reaching approximately 130 million by the end of 2024, which is 90% of the pre-pandemic levels[8] - The number of domestic tourists in China is projected to exceed 6 billion in 2024, indicating a strong recovery in consumer confidence[14] - The total domestic tourism expenditure in China is expected to reach RMB 5.75 trillion in 2024, a year-on-year increase of 17.1%[16] - Domestic tourism during the Golden Week saw over 278.76 million travelers, a 5.2% increase from 2023 and 24.8% higher than pre-pandemic levels[14] Business Strategy and Development - The company plans to establish a joint venture, Anhui Feiyang Aviation Operation Development Co., Ltd., to provide airport operation-related services, aiming to expand the aviation market[10] - The company is focusing on developing and marketing health products through online platforms in collaboration with external manufacturers to diversify its revenue sources[8] - The company aims to implement targeted strategic measures to maintain steady operational growth and accelerate development while overcoming challenges[10] - The company aims to enhance its competitive position through strategic benchmarking and optimizing its strategies to adapt to market changes[17] Revenue Sources and Product Sales - Sales of travel-related products and services rose from RMB 512.2 million to RMB 698.8 million, reflecting positive market developments[14] - The company’s revenue from free travel products amounted to RMB 397.5 million, up from RMB 314.3 million, due to the expansion of its business network nationwide[21] - Traditional group tours revenue increased from RMB 161.9 million in 2023 to RMB 266.3 million in 2024, representing a growth of 64.4% due to the recovery of the tourism industry[24] - Total group tour sales rose significantly by RMB 105.1 million or 57.2% from RMB 183.9 million in 2023 to RMB 289.1 million in 2024[23] - The sales of health products surged from RMB 5.3 million to RMB 16.3 million, capitalizing on the increased consumer interest in health and nutrition[14] Financial Metrics and Costs - Sales costs increased by RMB 187.4 million or 39.0% from RMB 480.0 million in 2023 to RMB 667.4 million in 2024, attributed to the recovery of the tourism industry[35] - Overall gross profit decreased from RMB 54.3 million in 2023 to RMB 48.5 million in 2024, with a gross margin decline from 10.2% to 6.8%[37][38] - The overall gross margin for the travel group increased slightly from 12.4% last year to 13.8% this year[39] - The overall gross margin for health products decreased from 21.4% last year to 15.0% this year, mainly due to aggressive promotional pricing strategies and rising raw material and logistics costs[39] Corporate Governance - The company has adhered to corporate governance standards, with a commitment to maintaining high governance practices[83] - The chairman and CEO roles are held by the same individual, which the board believes is in the best interest of the company for effective management[84] - The board includes independent non-executive directors to ensure checks and balances in decision-making[84] - The company has adopted the principles of the Corporate Governance Code as a benchmark for its corporate governance practices[102] - The board consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors[107] Risk Management and Internal Controls - The company has established a risk management and internal control system to identify, assess, and manage significant risks, ensuring compliance with relevant laws and regulations[145] - The board is responsible for reviewing the effectiveness of the risk management and internal control systems, aiming to achieve strategic objectives[145] - The company has implemented a mechanism for independent directors to express their views openly and confidentially when necessary[114] - The company has established an internal audit function to review the adequacy and effectiveness of its risk management and internal control systems annually[150] ESG and Sustainability - The company emphasizes sustainable development through four dimensions: quality service, employee care, green office practices, and community contributions[175] - The company has identified 27 key ESG issues relevant to its operations, which will guide its strategic planning and risk management assessments[184] - The company engages stakeholders through various communication channels, including annual meetings, reports, and social media, to gather feedback on its sustainability performance[179] - The company is committed to improving its ESG governance framework regularly, integrating sustainability principles into its overall planning and daily operations[177] Customer Satisfaction and Complaints - The company received a total of 47 complaints regarding travel products and services in the current year, an increase from 35 complaints in 2023[200] - A complaint handling system has been implemented to enhance customer satisfaction and resolve disputes amicably[200] - Continuous assessment and feedback collection from various channels are being conducted to monitor and improve product and service quality[200]

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。 Feiyang International Holdings Group Limited 飛 揚 國 際 控 股（ 集 團 ）有 限 公 司 （股份代號：1901） 澄清公告 授出購股權 茲提述飛揚國際控股（ 集團 ）有限公司（「本公司」）日期為2024年10月8日及2024年 11月21日的公告（「該等公告」），內容有關授出購股權。除文義另有界定者外，本 公告所用詞彙與該等公告所界定者具有相同涵義。 本公司謹此澄清，授予承授人的50,000,000份購股權中，6,400,000份購股權授予一 名董事，43,600,000份購股權授予本集團六名僱員，詳情如下： 姓名 身份 已授出購股權數目 黃宇 執行董事兼本公司首席技術官 6,400,000 本集團六名僱員 43,600,000 50,000,000 （於開曼群島註冊成立之有限公司） 董事 ...

Core Viewpoint - The company, Feiyang Group, reported a significant recovery in its core tourism business, achieving a 34% year-on-year revenue growth to 716 million RMB for the fiscal year 2024, outperforming the industry average [1][2]. Financial Performance - The core tourism segment experienced a remarkable revenue increase of 57.2%, turning a loss of 15.3 million RMB from the previous year into a profit of 9.35 million RMB [1][2]. - The group's total consolidated loss was approximately 91.6% attributed to prudent impairment provisions, but the actual operating loss, excluding these provisions, was only 4.6 million RMB, a 71.6% reduction compared to the previous year [2]. Strategic Initiatives - The company has implemented a strategy combining deep self-operation with video new retail and high-quality services to expand its national market presence, significantly boosting both revenue and profitability in its tourism business [2][3]. - Management indicated that the asset quality optimization process is nearing completion, with the 50.4 million RMB impairment provision clearing obstacles for future development [3]. Future Outlook - With over 70 million RMB in cash reserves and a strong self-sustaining capability from its core tourism business, the company is poised to capitalize on the recovery in the tourism sector, expecting to reach a milestone of comprehensive profitability post-pandemic [3]. - Analysts noted that the strategic adjustments have established a positive development pathway focused on core business, growth, asset optimization, and efficiency enhancement, positioning the company to accelerate towards a high-value industry segment [3].

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 534.3 million, a decrease of 25.3% compared to RMB 715.9 million in 2023[2] - Gross profit for the year was RMB 48.5 million, down 10.8% from RMB 54.3 million in the previous year[2] - The company recorded a net loss of RMB 54.8 million for the year, compared to a net loss of RMB 11.6 million in 2023[2] - The total comprehensive loss for the year was RMB 43,716,000, compared to RMB 32,394,000 in the previous year, indicating an increase in losses[5] - The loss attributable to the company's shareholders per share was RMB 5.05, a significant increase from RMB 1.17 in the previous year[5] - The company reported a total comprehensive income of RMB 22,436,000 for the year, a decrease from RMB 32,151,000 in the previous year[5] - The total loss attributable to the company’s shareholders was RMB 42,426,000, compared to RMB 19,551,000 in the previous year[5] - The company expects to continue facing challenges in the upcoming year, with a projected comprehensive loss of RMB 32,394,000[5] - The company will not reclassify any items in the future periods that would affect the comprehensive income statement[5] - The foreign exchange loss for the year was RMB 32,151,000, compared to RMB 22,436,000 in the previous year[5] Revenue Breakdown - Revenue from travel-related services increased by RMB 1.816 million, representing a growth of 34.0% year-on-year[2] - Revenue from external customers in mainland China was RMB 698,113,000 for the year ended December 31, 2024, compared to RMB 514,034,000 for the year ended December 31, 2023, representing a growth of 35.8%[21] - Revenue from external customers in Hong Kong was RMB 17,755,000 for the year ended December 31, 2024, compared to RMB 20,269,000 for the year ended December 31, 2023, indicating a decline of 7.4%[21] - Total revenue from external customers was RMB 715,868,000 for the year ended December 31, 2024, compared to RMB 534,303,000 for the year ended December 31, 2023, reflecting an overall increase of 33.9%[21] - Revenue from travel group sales increased from RMB 183,936 thousand in 2023 to RMB 289,075 thousand in 2024, a growth of about 57%[25] - Revenue from self-operated product sales rose from RMB 314,251 thousand in 2023 to RMB 397,529 thousand in 2024, marking an increase of approximately 27%[25] - Revenue from health products sales surged from RMB 5,273 thousand in 2023 to RMB 16,300 thousand in 2024, reflecting a growth of about 208%[25] - Revenue from liquor sales fell to zero in 2024 from RMB 2,791 thousand in 2023[25] Expenses and Costs - The cost of sales for the year was RMB 479.97 million, compared to RMB 667.38 million in 2023[4] - Selling and distribution expenses increased to RMB 21.5 million from RMB 28.3 million in 2023[4] - Administrative expenses decreased to RMB 42.2 million from RMB 39.8 million in the previous year[4] - The company recognized impairment losses of RMB 19.0 million, compared to RMB 50.4 million in 2023[4] - The cost of services provided increased to RMB 649,434,000 in 2024 from RMB 463,857,000 in 2023, marking a rise of 40%[28] - The group reported a total employee benefit expense of RMB 33,384,000 in 2024, up from RMB 28,542,000 in 2023, which is an increase of 16.4%[28] - Financial costs for 2024 amounted to RMB 9,949,000, compared to RMB 10,832,000 in 2023, representing a decrease of approximately 8.1%[26] Assets and Liabilities - Total assets decreased from RMB 432,853,000 to RMB 337,437,000, a decline of approximately 22% year-over-year[6] - Current liabilities decreased from RMB 478,751,000 to RMB 350,525,000, a reduction of about 27% year-over-year[6] - Cash and cash equivalents decreased from RMB 56,500,000 to RMB 36,688,000, a decline of approximately 35% year-over-year[6] - Trade receivables decreased from RMB 201,071,000 to RMB 88,648,000, a drop of about 56% year-over-year[6] - Non-current liabilities decreased from RMB 7,956,000 to RMB 4,701,000, a reduction of approximately 41% year-over-year[6] - Total equity decreased from RMB 80,176,000 to RMB 51,052,000, a decline of about 36% year-over-year[6] - The company reported a net current liability of RMB (13,088,000) compared to RMB (45,898,000) in the previous year, improving by approximately 71%[6] Market Outlook and Strategy - The company plans to focus on expanding its travel-related services in response to market recovery[3] - The company expects to continue facing challenges in the upcoming year, with a projected comprehensive loss of RMB 32,394,000[5] - The company has indicated that it will focus on improving operational efficiency to mitigate losses in the future[5] - The company plans to explore new market opportunities and product development to enhance revenue streams moving forward[5] - The group aims to maintain its industry-leading position by actively seeking market opportunities and optimizing strategies to enhance competitiveness[47] - The management team expresses confidence in sustainable growth, supported by extensive industry experience and a flexible operational team[47] Corporate Governance and Compliance - The company has maintained compliance with corporate governance standards as of December 31, 2024, except for a deviation regarding the roles of the Chairman and CEO[113] - The Audit Committee consists of three independent non-executive directors, ensuring oversight of financial reporting and compliance with corporate governance[116] - The independent auditor confirmed that the consolidated financial statements accurately reflect the group's financial position as of December 31, 2024[121] Shareholder Information - The company does not recommend paying dividends for the year ending December 31, 2024, consistent with the previous year[34] - The group does not recommend any final dividend for the current year, consistent with the previous year[98]

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。 Feiyang International Holdings Group Limited 飛 揚 國 際 控 股（ 集 團 ）有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1901） 盈利警告公告 本公告乃由飛揚國際控股（ 集團 ）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 (2) (a)條以 及 香 港 法 例 第 571 章 證 券 及 期 貨 條 例 第 XIVA 部 項 下 內 幕 消 息 條 文（ 定 義 見 上 市 規 則 ）而作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東及潛在投資者，根據對本 集團未經審核綜合管理賬目的初步審閱，預期本集團截至2024年12月31日止年度 （「 2024 財 年 」）將 錄 得 虧 ...

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。 Feiyang International Holdings Group Limited 飛 揚 國 際 控 股（ 集 團 ）有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1901） 於2025年3月20日舉行的 股東特別大會的投票結果 茲提述飛揚國際控股（ 集團 ）有限公司（「本公司」）日期均為2025年2月21日的通函 （「通函」）及股東特別大會通告（「股東特別大會通告」），內容有關本公司主要及關 連交易。除文義另有所指外，本公告所用詞彙與該通函所界定者具有相同涵義。 董事會欣然宣佈，於2025年3月20日（ 星期四 ）舉行的本公司股東特別大會（「股東 特別大會」）上，股東特別大會通告所載的所有建議決議案已獲股東以投票表決方 式正式通過。投票結果如下： | | | | | | | | | | | 普通決議案 | | | ...

（股份代號：1901） 飛 揚 國 際 控 股（ 集 團 ）有 限 公 司 （於開曼群島註冊成立之有限公司） 董事會會議日期 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。 飛 揚 國 際 控 股（ 集 團 ）有 限 公 司（「 本 公 司 」， 連 同 其 附 屬 公 司 為「 本 集 團」）董 事 會 （「董事會」）謹此宣佈，董事會會議將於2025年3月28日（ 星期五 ）舉行，以審議及 批准本集團截至2024年12月31日止年度之經審核年度業績及處理任何其他事項。 Feiyang International Holdings Group Limited 董事長、執行董事兼行政總裁 何斌鋒 中國寧波，2025年3月18日 於本公告日期，董事會包括本公司執行董事何斌鋒先生、黃宇先生、吳濱先生、 熊笛先生及陳惠玲女士；本公司非執行董事沈陽先生；及本公司獨立非執行董事 李華敏先生、趙彩紅女 ...