致：香港交易及結算所有限公司 公司名稱: 小黃鴨德盈控股國際有限公司 呈交日期: 2026年4月1日 I. 法定/註冊股本變動 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3月31日 狀態: 新提交 | 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) | 02250 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.000025 USD | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.000025 USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 ...

Financial Performance - Revenue for the fiscal year 2025 reached HKD 172,535,000, an increase of 34.3% compared to HKD 128,526,000 in 2024[3] - The net loss for the fiscal year 2025 was HKD 89,691,000, compared to a net loss of HKD 49,340,000 in 2024, representing an increase of 81.8%[5] - Adjusted net loss margin for 2025 was (48.4%), up from (31.5%) in 2024, indicating a worsening profitability situation[3] - The gross profit margin for the fiscal year 2025 improved to 57.3%, compared to 46.7% in 2024, reflecting better cost management[4] - The company reported a basic and diluted loss per share of HKD 9.2 for 2025, compared to HKD 4.9 in 2024, indicating increased losses per share[6] - The company reported a net loss attributable to equity holders of HKD 87,700,000 for the year ended December 31, 2025, compared to a loss of HKD 46,404,000 in 2024, representing an increase of 88.9%[27] - Basic loss per share for the year ended December 31, 2025, was HKD 9.2, compared to HKD 4.9 in 2024, indicating a significant increase in losses per share[27] - Operating loss increased by approximately 64.7% from HKD 52.2 million in fiscal year 2024 to HKD 86.1 million in fiscal year 2025[55] Assets and Liabilities - The total assets decreased to HKD 245,422,000 in 2025 from HKD 293,050,000 in 2024, a decline of 16.2%[7] - The total liabilities as of December 31, 2025, amounted to HKD 135,701,000, compared to HKD 100,135,000 in 2024, reflecting a 35.4% increase[8] - Non-current liabilities decreased from HKD 24,401,000 in 2024 to HKD 10,370,000 in 2025, a reduction of 57.5%[8] - The total equity attributable to the company's owners decreased to HKD 93,303,000 in 2025 from HKD 191,570,000 in 2024, a drop of 51.3%[7] - The company's current assets decreased from approximately HKD 85.8 million as of December 31, 2024, to approximately HKD 59.9 million as of December 31, 2025[65] - The company's inventory increased from approximately HKD 13.9 million as of December 31, 2024, to approximately HKD 26.0 million as of December 31, 2025, primarily due to procurement to support e-commerce growth[68] Revenue Breakdown - Revenue from licensing services was HKD 46,118,000, up 5.5% from HKD 43,602,000 in the previous year[17] - Revenue from design consulting services increased by 33.8% to HKD 22,019,000 from HKD 16,468,000[17] - Sales of licensed brand products generated HKD 91,913,000, a significant rise from HKD 68,456,000, marking a 34.3% increase[17] - Revenue from mainland China was HKD 158,522,000, up 30.6% from HKD 121,460,000 in 2024[20] - The revenue from the B.Duck character, the company's main product line, increased by approximately 38.9% from about HKD 52.0 million in FY2024 to about HKD 72.3 million in FY2025, accounting for 89.6% of total licensing revenue[44] - The revenue from the live entertainment licensing segment increased significantly, with total revenue of approximately HKD 13.0 million in FY2025 compared to HKD 3.7 million in FY2024[42] - Revenue from e-commerce and other businesses rose from approximately HKD 68.5 million in FY2024 to approximately HKD 91.9 million in FY2025, marking an increase of about 34.3%[40] Operational Costs - The company incurred employee benefit expenses of HKD 78,450,000 in 2025, up from HKD 64,604,000 in 2024, reflecting increased operational costs[5] - Employee costs for the fiscal year 2025 amounted to approximately HKD 78.5 million, an increase from HKD 64.6 million in the fiscal year 2024[79] - Promotion costs increased from approximately HKD 18.4 million in fiscal year 2024 to HKD 27.7 million in fiscal year 2025, attributed to multiple large-scale physical events enhancing brand influence[52] - The company recorded a net impairment loss on financial assets and contract assets of approximately HKD 3.0 million and HKD 53.8 million for the fiscal years 2024 and 2025, with a significant increase in 2025 due to expected credit losses from trademark receivables[48] Cash Flow and Liquidity - Cash and cash equivalents increased significantly to HKD 58,848,000 in 2025 from HKD 22,985,000 in 2024, showing improved liquidity[7] - As of December 31, 2025, the company's cash and cash equivalents amounted to HKD 58.8 million, up from HKD 23.0 million as of December 31, 2024[62] - The total borrowings of the company as of December 31, 2025, were HKD 50.9 million, an increase from HKD 45.9 million as of December 31, 2024[62] Corporate Governance - The company is committed to high corporate governance standards, with the chairman also serving as CEO, which the board believes is in the best interest of the company[95] - The company has established an Audit Committee composed of independent non-executive directors to oversee financial reporting and risk management[99] - The Audit Committee reviewed the consolidated performance for the fiscal year 2025 and confirmed compliance with applicable accounting standards and regulations[99] Future Plans and Strategies - The company plans to continue expanding its e-commerce sales platforms in overseas markets, including Thailand, Indonesia, Vietnam, the Philippines, Malaysia, and Singapore, to leverage growth opportunities[40] - The company is developing a multi-dimensional model of "small city parks + medium amusement parks + large cultural tourism attractions" to enhance brand presence and consumer engagement[90] - The company aims to integrate Chinese IP into global markets, establishing a presence in international retail channels like Lazada and Amazon, and replicating successful models in more overseas cities[91] - The company plans to enhance creativity through an AI technology design team and incentivize key employees with reward shares[46] Shareholder Information - The company did not recommend the payment of a final dividend for the year ended December 31, 2025[29] - No final dividend was recommended for the fiscal year 2025, consistent with the previous fiscal year[97]

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之任何損失承擔任何責任。 B.Duck Semk Holdings International Limited 小黃鴨德盈控股國際有限公司 （於開曼群島註冊成立的有限公司） （股份代號︰2250） 建議採納新公司章程大綱細則 1. 電子通訊：引入相關條款，以推行以電子方式傳送通知、文件及進行會議和 電子支付，包括電子簽署、電子傳送文件、以混合方式參與會議及電子投票。 本公司股東（「股東」）可以透過電子郵件或本公司網站接收通知，惟須符合 監管規定。 2. 內務修訂：建議相應的修訂，以確保符合開曼群島法律、上市規則和市場最 佳實踐，包括優化措辭和結構清晰度。 採納經修訂和重述的章程大綱細則，須待股東於 2026 年 5 月 29 日（星期五）舉 行之本公司股東週年大會（「股東週年大會」）上以特別決議案方式批准，並將於 該批准後即時生效。 一份載有（其中包括）有關建議修訂及經修訂和重述的章程大綱細則詳情的通函， 連同股東週年大會通告，將 ...

董事會會議通告 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之任何損失承擔任何責任。 B.Duck Semk Holdings International Limited 小黃鴨德盈控股國際有限公司 （於開曼群島註冊成立的有限公司） （股份代號︰2250） 許夏林 香港，2026 年 3 月 18 日 於本公告日期，董事會成員包括董事會主席兼執行董事許夏林先生；執行董事郭 振傑先生、宋治強先生及呂行遠先生；非執行董事徐文雅女士；及獨立非執行董 事梁丙焄女士、陳嘉賢教授（太平紳士）及吳迪先生。 小黃鴨德盈控股國際有限公司（「本公司」，連同其附屬公司，「本集團」）之 董事（「董事」）會（「董事會」）謹此宣佈，董事會會議將於 2026 年 3 月 30 日（星期一）舉行，以考慮及批准（其中包括）本集團截至 2025 年 12 月 31 日 止年度之年度業績及建議派發末期股息（如有）。 代表董事會 小黃鴨德盈控股國際有限公司 董事會主席兼執行董事 ...

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之任何損失承擔任何責任。 B.Duck Semk Holdings International Limited 小黃鴨德盈控股國際有限公司 （於開曼群島註冊成立的有限公司） （股份代號︰2250） 盈利警告 代表董事會 小黃鴨德盈控股國際有限公司 董事會主席兼執行董事 本公告乃小黃鴨德盈控股國際有限公司（「本公司」，連同其附屬公司，「本集 團」）根據香港聯合交易所有限公司證券上市規則第 13.09(2)(a)條及香港法例第 571 章證券及期貨條例第 XIVA 部項下之內幕消息條文作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及 潛在投資者，基於對董事會目前可得資料及董事會就本集團截至 2025 年 12 月 31 日止年度（「2025 財年」）的未經審核綜合管理賬目所作的初步評估，預期本集 團於 2025 財年將錄得本公司權益持有人應佔虧損不少於 7,800 萬港元，而截至 2024 年 12 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: 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: 小黃鴨德盈控股國際有限公司 呈交日期: 2026年3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) | 02250 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.000025 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.000025 | USD | | 50,000 | 本月底法定/註 ...

Core Viewpoint - The strategic partnership between 小黄鸭德盈 (B.Duck) and 浙江哈尔斯真空器皿股份有限公司 (Hars) aims to leverage both companies' strengths in IP operation and manufacturing capabilities to create a new line of trendy cup products, enhancing their market presence and driving growth in the beverage container industry [1][2]. Group 1: Strategic Partnership - The agreement establishes a comprehensive strategic partnership, combining B.Duck's IP strengths with Hars' leading manufacturing capabilities and distribution network [1]. - A joint venture will be established in mainland China, focusing on co-branded trendy cup products featuring the B.Duck brand and other international IPs [1]. Group 2: Market Potential - The insulated cup industry is entering a golden development period, with both market size and trend attributes experiencing significant growth, making it a core trendy consumer product category [2]. - The partnership aims to shift the industry focus from price competition to value creation, enhancing the overall consumer experience [2]. Group 3: Collaborative Framework - The collaboration will build a "trendy design + flexible manufacturing + comprehensive marketing" system, starting with cup products and expanding into related items [2]. - The partnership is expected to facilitate the expansion of B.Duck's product categories and deepen IP user penetration, creating a replicable cross-category collaboration model [2].

Core Viewpoint - The strategic partnership between 小黄鸭德盈 (B.Duck) and 浙江哈尔斯真空器皿股份有限公司 (Hars) aims to leverage their respective strengths in IP operation and manufacturing capabilities to create a new line of trendy cup products, enhancing their market presence and driving growth in the cup industry [1][2]. Group 1: Strategic Partnership Details - The agreement establishes a comprehensive strategic partnership, combining B.Duck's expertise in IP operation with Hars' leading manufacturing capabilities and established distribution network [1]. - A joint venture will be formed in mainland China, focusing on designing, selling, and operating co-branded trendy cup products featuring the "B.Duck" brand and other international IPs [1]. Group 2: Market Potential and Collaboration Benefits - The cup industry is experiencing unprecedented growth, with a dual explosion in market size and trend attributes, making it a core trendy consumer product category [2]. - The collaboration aims to create a "trendy design + flexible manufacturing + all-domain marketing" synergy, facilitating the expansion of B.Duck's product categories and Hars' transition towards becoming a "trendy brand" [2]. - The partnership is expected to shift the industry focus from price competition to value creation, enhancing the long-term growth and leadership position of B.Duck in the IP-driven consumer market [2].

Core Viewpoint - The strategic partnership between 小黄鸭德盈 (B.Duck) and 浙江哈尔斯真空器皿股份有限公司 (Hars) aims to leverage both companies' strengths in IP operation and manufacturing capabilities to create a new line of trendy cup products, enhancing their market presence and driving growth in the beverage container industry [1][2]. Group 1: Partnership Details - The agreement was signed on February 8, 2026, establishing a comprehensive strategic partnership between B.Duck and Hars [1]. - Hars holds approximately 2.68% of B.Duck's issued share capital, with 27.027 million shares [1]. - A joint venture will be established in mainland China, focusing on co-branded trendy cup products featuring the B.Duck brand and other international IPs [1]. Group 2: Market and Industry Insights - The beverage container industry is experiencing unprecedented growth, with a dual explosion in market size and trend attributes, making it a core category of trendy consumer goods [2]. - The partnership aims to create a collaborative system that integrates "trendy design + flexible manufacturing + comprehensive marketing" to enhance both companies' product offerings and market reach [2]. - The collaboration is expected to shift the industry focus from price competition to value creation, contributing to long-term growth and leadership in the IP-driven consumer goods market [2].

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，幷明確表示概不就因本公告全部或 任何部分內容而産生或因倚賴該等內容而引致之任何損失承擔任何責任。 B.Duck Semk Holdings International Limited 小黃鴨德盈控股國際有限公司 （於開曼群島註冊成立的有限公司） （股份代號︰2250） 自願性公告 ─ 戰略合作協議 本公告乃小黃鴨德盈控股國際有限公司（「本公司」，連同其附屬公司，「本集 團」）自願作出，以使其股東及潛在投資者了解本集團的最新業務發展。 本公司董事（「董事」）會（「董事會」）欣然宣佈，本公司已於 2026 年 2 月 8 日與全球杯壺行業深圳證券交易所上市的 A 股公司浙江哈爾斯真空器皿股份有 限公司（「哈爾斯」，股票代碼：002615）訂立戰略合作協議（「該協議」）。 截至本公告日期，哈爾斯間接持有本公司 27,027,000 股股份，約佔本公司已發行 股本的 2.68%。哈爾斯及其最終實益擁有人（如有）為獨立於本公司及其關連人 士（定義見香港聯合交易所有限公司證券上市規則）的第三方。 根據該協議，本集 ...