Financial Performance - Revenue for the year ending December 31, 2025, was RMB 271.7 million, a decrease of 1.2% compared to RMB 275.1 million in 2024[2] - Gross profit for the year ending December 31, 2025, was RMB 74.1 million, an increase of 1.4% from RMB 73.1 million in 2024[2] - Loss attributable to ordinary equity holders for the year ending December 31, 2025, was RMB 513.9 million, a decrease of 0.5% from RMB 516.6 million in 2024[2] - Total comprehensive loss for the year was RMB 512.7 million, compared to RMB 518.0 million in 2024[4] - The basic and diluted loss per share for the year was RMB 0.89, unchanged from the previous year[4] - The company's net loss attributable to ordinary shareholders for the year ended December 31, 2025, was RMB 513,939,000, compared to RMB 516,564,000 for the year ended December 31, 2024[35] - The net loss margin increased by 0.7% from 187.8% in 2024 to 189.2% in 2025[78] Expenses and Costs - Selling and distribution expenses were RMB 82.19 million, down from RMB 86.95 million in 2024[4] - Administrative expenses decreased to RMB 28.39 million from RMB 40.97 million in 2024[4] - The total employee benefits expenses, excluding directors' remuneration, were RMB 44,100,000 in 2025, down from RMB 49,502,000 in 2024, indicating a decrease of about 11%[28] - The total interest expense for financing was RMB 199,767,000 in 2025, slightly down from RMB 199,851,000 in 2024[29] - Financing costs remained stable at RMB 199.8 million in 2025 compared to RMB 199.9 million in 2024[73] Assets and Liabilities - Total assets decreased from RMB 4,365,103 thousand in 2024 to RMB 4,365,103 thousand in 2025, reflecting a decline of approximately 1.5%[5] - Current liabilities increased from RMB 3,894,099 thousand in 2024 to RMB 4,365,103 thousand in 2025, representing an increase of about 12.1%[6] - The total liabilities increased from RMB 3,894,099 thousand in 2024 to RMB 4,365,103 thousand in 2025, marking an increase of approximately 12.1%[6] - The company's total liabilities increased to RMB 3,793,140,000 in 2025 from RMB 3,311,340,000 in 2024, marking an increase of approximately 14.5%[48] - The balance of overdue tax liabilities and provisions was approximately RMB 277,080,000 in 2025, up from RMB 247,472,000 in 2024, representing an increase of about 11.9%[47] Cash Flow and Financial Position - The company's cash and cash equivalents decreased from RMB 586,086 thousand in 2024 to RMB 568,643 thousand in 2025, a decline of about 3%[5] - As of December 31, 2025, the group's cash net amount is approximately RMB 26,712,000, compared to RMB 830,000 in 2024, indicating a significant increase[11] - The group anticipates sufficient cash resources to meet operational funding and financial obligations for the next twelve months[14] - The company reported zero income tax expenses for 2024 and 2025 due to business losses[75] Revenue Sources and Market Position - The company's main revenue source, the rice wine series, accounted for approximately 69.3% of total revenue in 2025[61] - Online sales revenue for the year reached approximately RMB 30.8 million, accounting for about 11.3% of total company revenue, reflecting a year-on-year increase of approximately 34.1%[59] - Revenue from liquor products increased by 0.6% from RMB 187.0 million in 2024 to RMB 188.2 million in 2025, driven by the launch of new products and enhanced online marketing efforts[66] - Revenue from soy sauce and rice vinegar products declined by 5.3% from RMB 88.2 million in 2024 to RMB 83.5 million in 2025 due to adjustments in product structure[67] Strategic Initiatives and Future Outlook - The company plans to enhance market competitiveness through quality improvement, efficiency upgrades, product innovation, and channel innovation in response to intense competition in the condiment industry[54] - The company aims to achieve a 5% economic growth target in 2026, aligning with China's 14th Five-Year Plan, emphasizing stable employment and market expectations[101] - The company is committed to strengthening its market position in the flavoring industry through a combination of product sales and diversified sales channels[103] - The company plans to further develop customized products and expand its flavoring product chain, aiming to establish itself as a diversified flavoring manufacturer centered around rice wine[62] Governance and Compliance - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2025[2] - The public float of the company was approximately 23.27% as of December 31, 2025, which is below the required 25% as per listing rules[111] - The independent auditor has agreed that the financial statements for the year ending December 31, 2025, are based on the group's consolidated financial statements[117] - The audit committee has reviewed the consolidated financial statements and discussed internal controls and financial reporting matters[120]

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 佈 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佈全部或 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。 Honworld Group Limited 老 恒 和 釀 造 有 限 公 司* （於開曼群島註冊成立的有限公司） （股份代號：2226） 董事會會議通告 老恒和釀造有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於二零二 六年三月三十日舉行董事會會議，藉以考慮及批准（ 其中包括 ）本公司及其附屬公 司截至二零二五年十二月三十一日止年度的年度業績、其發佈、宣派及派付末期 股息（ 如有 ）以及處理任何其他事宜。 主席 黃大春 香港，二零二六年三月十八日 於 本 公 佈 日 期 ， 本 公 司 執 行 董 事 為 黃 大 春 及 李 清 華 ； 本 公 司 非 執 行 董 事 為 王 艷 萍；以及本公司獨立非執行董事為沈振昌、吳榮輝及孫熲。 * 僅供識別 承董事會命 老恒和釀造有限公司 ...

（於開曼群島註冊成立的有限公司） （股份代號：2226） 恢復公眾持股量 茲提述老恒和釀造有限公司（「本公司」，連同其附屬公司統稱「本集團」）日期為二 零二六年一月二十三日、二零二六年二月十日及二零二六年二月二十七日的公佈 （「該等公佈」），內容有關本公司的公眾持股量不足。除另有指明外，本公佈所用 詞彙與該等公佈所界定者具有相同涵義。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東，根據茅先生於二零二六 年三月三日提交的權益披露表格，茅先生已出售600,000股股份，相當於本公司已 發行股份總數約0.1 %。 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司 對本公佈的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示 概不就因本公佈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。 Honworld Group Limited 老 恒 和 釀 造 有 限 公 司* 在茅先生出售後及於本公佈日期，茅先生被視為於合共57,821,500股股份中擁有權 益 ， 相 當 於 已 發 行 股 份 總 數 約 9.99 % ， 其 中 (i) 5,821, ...

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 呈交日期: 2026年3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) | 02226 | 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 | USD | | 0.0005 | USD | | 500,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.0005 | USD | | 500,000 | 本月底法定/註冊股本總額： USD 500,000 第 1 頁 共 10 頁 v 1 ...

Core Viewpoint - Lao Heng He Brewing (02226.HK) announced that its public float is approximately 23.27%, which is below the minimum requirement of 25% as per Listing Rule 13.32B(1) [1] Group 1 - The company is currently in discussions with its core connected persons to ascertain their intentions regarding the sale of relevant shares and the expected quantity [1] - The company plans to implement a public float restoration plan according to the indicative timeline provided in the announcement [1] - The company aims to restore its public float by July 23, 2026, or earlier [1]

香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司 對本公佈的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示 概不就因本公佈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。 Honworld Group Limited 老 恒 和 釀 造 有 限 公 司* 月度更新 董事會謹此知會本公司股東及潛在投資者，於本公佈日期，本公司公眾持股量約 為23.27 %，仍低於上市規則第13.32B (1)條規定的最低百分比25 %。 本公司現正與其核心關連人士進行討論，以確認彼等出售相關股份的意向及預期 數量。目前預期公眾持股量恢復計劃將按照該等公佈所載的預期指示性時間表實 施。本公司將盡最大努力於二零二六年七月二十三日或之前恢復其公眾持股量。 為遵守上市規則第13.32E (2) (a)條，本公司將刊發載列本公司公眾持股量恢復計劃 之進展情況的月度更新公佈，直至公眾持股量恢復為止。本公司將於適當時候或 根據上市規則的規定另行刊發公佈。 – 1 – （於開曼群島註冊成立的有限公司） （股份代號：2226） 關於公眾持股量的 月度更新公佈 本公佈乃由老恒和釀造有限公司 ...

Core Viewpoint - The article highlights a significant transfer of shares for Lao Heng He Brewing, indicating a shift in shareholder structure and a potential compliance issue with the Hong Kong Stock Exchange's public float requirements [1] Group 1: Shareholder Activity - On February 13, Lao Heng He Brewing's shares were transferred from Huafu Jianye Securities to Zhaoyin International Securities, with a market value of HKD 86.4144 million, representing 39.82% of the total shares [1] - This transfer suggests a strategic repositioning among shareholders, which may impact the company's market perception and investor confidence [1] Group 2: Public Float Compliance - Lao Heng He Brewing announced that its public float is approximately 23.27%, which is below the required minimum of 25% as stipulated by the Hong Kong Stock Exchange Listing Rules [1] - The company's failure to meet the public float requirement could lead to regulatory scrutiny and potential consequences for its listing status [1]

Core Viewpoint - The article highlights a significant transfer of shares for Lao Heng He Brewing, indicating a shift in shareholder structure and a potential compliance issue with the Hong Kong Stock Exchange's public float requirements [1] Group 1: Shareholder Activity - On February 13, Lao Heng He Brewing's shares were transferred from Huafu Jianye Securities to Zhaoyin International Securities, with a market value of HKD 86.4144 million, representing 39.82% of the total shares [1] - This transfer suggests a strategic repositioning among shareholders, which may impact the company's market perception and investor confidence [1] Group 2: Public Float Compliance - Lao Heng He Brewing announced that its public float is approximately 23.27%, which is below the Hong Kong Stock Exchange's requirement of at least 25% for publicly held shares [1] - The company's current public holding level raises concerns regarding compliance with listing rules, potentially affecting its trading status and investor interest [1]

Honworld Group Limited 老 恒 和 釀 造 有 限 公 司* （於開曼群島註冊成立的有限公司） （股份代號：2226） 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司 對本公佈的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示 概不就因本公佈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。 公眾持股量狀況的最新情況 兹提述本公司日期為二零二六年一月二十三日有關未能符合上市規則第13.32B條 所規定公眾持股量的公佈（「該公佈」）。除另有訂明外，本公佈所用詞彙與該公佈 所界定者具相同涵義。 恢復公眾持股量的建議 為恢復本公司公眾持股量，本公司正探討由核心關連人士出售一定比例的現有股 份（「相關股份」）的可能性（「建議出售事項」）： (i) 核 心 關 連 人 士（ 不 包 括 吳 興 城 投（ 香 港 ）有 限 公 司（「 吳 興 香 港」））建 議 出 售 事 項： 董事會正探討本公司核心關連人士（ 不包括吳興香港 ）進行建議出售事項的可 能性。公司將不時與核心關連人士（ 不包括吳興香港 ）持續溝通，以確保有關 建議出售事項的以 ...

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: 老恒和釀造有限公司 呈交日期: 2026年2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) | 02226 | 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 | USD | | 0.0005 | USD | | 500,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.0005 | USD | | 5 ...