Financial Performance - For the fiscal year ending December 31, 2025, the company reported revenue of HKD 422.7 million, a 15% increase from HKD 367.7 million in 2024[3]. - The profit attributable to equity holders of the company was HKD 11.2 million, significantly up from HKD 1.8 million in the previous year, representing a growth of over 522%[3]. - Basic earnings per share increased to HKD 0.98 from HKD 0.16, marking a substantial rise of 512.5%[9]. - The company's gross profit for the year was HKD 161.3 million, compared to HKD 146.8 million in 2024, indicating a growth of 9.8%[8]. - The total comprehensive income for the year was HKD 15.2 million, a significant improvement from a loss of HKD 2.0 million in the previous year[9]. - The group reported a pre-tax profit of HKD 21.208 million for the fiscal year ending December 31, 2025, compared to HKD 10.281 million in 2024, indicating an increase of approximately 106.5%[33]. - The company recorded total revenue of approximately HKD 422.7 million for the year, an increase of about 15.0% compared to the previous year's revenue of HKD 367.7 million[77]. - The net profit for the year rose significantly from approximately HKD 1.2 million to about HKD 10.1 million, primarily due to increased revenue from interior decoration products and reduced financing costs[78]. - The group recorded a profit of approximately HKD 10.1 million this year, compared to approximately HKD 1.2 million in the previous year[103]. Revenue Breakdown - Service revenue accounted for HKD 283.764 million in 2025, up from HKD 269.225 million in 2024, reflecting a growth of 5.4%[24]. - Trade revenue significantly increased to HKD 137.282 million in 2025 from HKD 96.892 million in 2024, marking a growth of 41.7%[24]. - Revenue from the mainland China market reached HKD 367.059 million in 2025, compared to HKD 318.486 million in 2024, indicating a growth of 15.2%[26]. - The revenue from the SLD segment for the fiscal year ending December 31, 2025, is HKD 255.292 million, compared to HKD 220.548 million in 2024, reflecting an increase of about 15.7%[33]. - The SLL segment reported revenue of HKD 162.177 million for the fiscal year ending December 31, 2025, up from HKD 112.666 million in 2024, indicating a growth of approximately 44%[33]. - The JHD segment experienced a decline in revenue, reporting HKD 41.557 million for the fiscal year ending December 31, 2025, down from HKD 48.245 million in 2024, a decrease of about 13.9%[33]. - Revenue from residential projects accounted for 78.2% of total revenue for the year ending December 31, 2025, compared to 68.9% in the previous year[78]. Cash and Assets - As of December 31, 2025, the company's net cash position was approximately HKD 153.3 million, up from HKD 120.9 million in 2024, reflecting a growth of 27%[6]. - The group's cash and cash equivalents amounted to HKD 130,768,000 as of December 31, 2025, up from HKD 121,742,000 in 2024[62]. - The total assets of the company were valued at approximately HKD 517.8 million as of December 31, 2025, compared to approximately HKD 497.4 million as of December 31, 2024, showing an increase of about 4.8%[87]. - Trade receivables increased to HKD 197,791,000 in 2025 from HKD 168,559,000 in 2024, with a net value of HKD 128,901,000 after deducting credit loss provisions[55]. - As of December 31, 2025, trade receivables totaled approximately HKD 258.5 million, an increase of about HKD 32.2 million from HKD 226.3 million on December 31, 2024[118]. Financing and Costs - The company incurred a financing cost of HKD 1.957 million for the fiscal year ending December 31, 2025, compared to HKD 3.574 million in 2024, showing a reduction of approximately 45%[33]. - Financing costs decreased from HKD 3,574,000 in 2024 to HKD 1,957,000 in 2025, primarily due to a reduction in bank loan interest[43]. - The company's income tax expense increased from HKD 9,075,000 in 2024 to HKD 11,128,000 in 2025, reflecting a higher taxable profit[45]. - The cumulative provision for trade receivables increased to approximately HKD 101.7 million, with an average loss rate rising to about 39.3% compared to 38.7% in the previous year[118]. Dividends and Shareholder Returns - The company did not recommend any final dividend for the fiscal year ending December 31, 2025[7]. - The company does not recommend the distribution of final dividends for 2024 and 2025[87]. - The board of directors does not recommend the distribution of any final dividend for the year[128]. Strategic Initiatives and Market Position - The company is focusing on expanding its product portfolio in the interior decoration segment, enhancing brand influence and introducing new revenue sources through deep collaboration with real estate developers[75]. - The company is actively deepening its presence in overseas markets, particularly in the Middle East, where there is strong demand for high-end residential and commercial design services driven by economic transformation plans and sovereign wealth fund investments[75]. - The company aims to strengthen its collection of receivables and enhance operational efficiency to achieve stable growth in a challenging market environment[76]. - The company is expanding its customer base and business coverage to adapt to market changes and seize new opportunities[75]. - The company is leveraging international opportunities while facing increased competition in the domestic market, necessitating enhanced cross-cultural communication and global resource integration capabilities[73]. Risk Management and Future Outlook - Credit risk remains high due to the ongoing recovery in the Chinese real estate market, with new housing sales area and sales value declining by 9.2% and 13.0% year-on-year, respectively[116]. - The company will continue to pursue cost reduction and efficiency improvements while maintaining cash flow management and risk control[109]. - The global economic environment and industry trends will continue to influence the company's strategic direction, with emerging economies in the Middle East and Central Asia expected to grow at around 3.8% due to infrastructure projects and tourism recovery[106]. - The Chinese real estate sector is still in an adjustment phase, with new housing starts declining significantly, indicating weak market confidence[106]. Employee and Operational Insights - The company has 413 full-time employees as of December 31, 2025, an increase from 401 employees in the previous year, with total employee compensation rising to approximately HKD 188.5 million[124]. - The company has implemented a prudent credit policy to manage credit risk, including ongoing credit assessments and monitoring procedures[117].

承董事會命 Steve Leung Design Group Limited 梁志天設計集團有限公司 主席 許興利 STEVE LEUNG DESIGN GROUP LIMITED 梁志天設計集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2262） 董事會會議通告 STEVE LEUNG DESIGN GROUP LIMITED 梁志天設計集團有限公司（「本公司」 連同其附屬公司「本集團」）董事（「董事」）會（「董事會」）謹此宣佈，本公司將 於2026年3月19日（星 期 四）下 午12時30分，假座香港九龍九龍灣宏泰道23號 Manhattan Place 30樓舉行董事會會議，藉以商討下列事項： 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。 香港，2026年3月5日 於本公告日期，本公司執行董事為梁志天先生（銅紫荊星章）、蕭文熙先生（首席 執行官）及葉玨鴻先生（首席財務官）；非執行董事為許興利先生（主席）、丁敬勇 先生及黃文熙先生； ...

致：香港交易及結算所有限公司 公司名稱: 梁志天設計集團有限公司 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) | 02262 | 說明 | 梁志天設計集團 | | | | | | | | | | 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 | 本月底法定/註冊股本總額： HKD 40,000,000 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 ...

致：香港交易及結算所有限公司 公司名稱: 梁志天設計集團有限公司 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) | 02262 | 說明 | 梁志天設計集團 | | | | | | | | | | 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 | 本月底法定/註冊股本總額： HKD 40,000,000 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 ...

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12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: 梁志天設計集團有限公司 呈交日期: 2026年1月2日 I. 法定/註冊股本變動 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02262 | 說明 | | 梁志天設計集團 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 1,141,401,000 | | 0 | | 1,141,401,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 1,141,401,000 | ...

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 梁志天設計集團有限公司 呈交日期: 2025年12月9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) | 02262 | 說明 | 梁志天設計集團 | | | | | | | | | | 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 | ...

Core Viewpoint - The rising prices of hot pot-style dishes like "Yang Guofu Spicy Hot Pot" have sparked consumer outrage, highlighting the disconnect between consumer expectations and the actual pricing structure of these dining experiences [4][20]. Group 1: Business Model and Cost Structure - The pricing model of hot pot restaurants has shifted to a weight-based system, which has led to higher consumer prices and a perception of "premium" dining [20][21]. - Labor costs are significant, with a typical hot pot restaurant requiring at least 2.5 employees, leading to monthly labor expenses of around 20,000 yuan in first-tier cities [6][7]. - The average operating cost for a hot pot restaurant in a first-tier city is approximately 50,000 yuan per month, including rent, utilities, and labor [7][8]. - The food cost for a bowl of hot pot is estimated to be between 8 to 10 yuan, with a gross margin of 50% to 60%, resulting in a net profit margin of about 18% under ideal conditions [8][10]. Group 2: Consumer Perception and Market Dynamics - Consumers are increasingly frustrated with the lack of transparency in pricing, particularly when they only discover the high costs at checkout [4][10]. - The shift from affordable street food to more expensive dining options has alienated some consumers, who still associate hot pot with low-cost meals [20][25]. - The market has seen a segmentation of consumer groups, with higher prices attracting wealthier customers while alienating budget-conscious diners [20][21]. Group 3: Franchise and Supply Chain Challenges - Franchisees face high initial costs, including significant expenses for equipment and supplies mandated by the brand, which can lead to financial strain [12][13]. - The requirement to purchase supplies exclusively from the brand often results in higher costs for franchisees, limiting their ability to manage expenses effectively [13][14]. - The operational support provided by brands is minimal, with most training focused on basic processes rather than in-depth business management [23][24].

Core Insights - The recent controversy over the high prices of ingredients at Yang Guofu Spicy Hotpot has sparked consumer outrage, highlighting the disconnect between consumer expectations and the actual pricing structure of the business [1][2] - The rising costs of labor, rent, and operational expenses have led to increased prices in the spicy hotpot industry, challenging the perception that chain restaurants should inherently lower costs [2][4] - The shift to a weight-based pricing model has transformed spicy hotpot from a budget-friendly option to a more premium dining experience, which may not align with consumer expectations [18][22] Group 1: Pricing and Consumer Reactions - Consumers are shocked by the high prices of ingredients, with reports of prices like 31.8 yuan per pound for bean sprouts, leading to a backlash against the perceived lack of transparency in pricing [1][2] - The pricing model, which allows customers to choose from a wide variety of ingredients, has resulted in higher average spending per visit, but has also led to complaints about the perceived value [1][18] - The outrage reflects a broader dissatisfaction with the rising costs of dining out, particularly for what was traditionally considered a low-cost meal option [1][22] Group 2: Operational Challenges - The operational complexity of running a spicy hotpot restaurant requires a significant workforce, with an average of 2.5 employees needed just to manage the workload effectively [2][3] - Labor costs are substantial, with monthly wages for staff in first-tier cities reaching at least 20,000 yuan, contributing to the overall high operational costs [4][5] - The preparation of ingredients is labor-intensive, requiring extensive pre-processing and constant monitoring of inventory, which adds to the operational burden [2][3] Group 3: Cost Structure and Profitability - The average cost of ingredients for a bowl of spicy hotpot is estimated to be between 8-10 yuan, with a gross margin of 50-60%, but net profits are significantly lower after accounting for operational costs [5][19] - In ideal conditions, a restaurant could achieve a net profit of around 27,000 yuan per month, but this is contingent on maintaining high sales volumes [5][19] - Variability in operational costs across different regions leads to inconsistent pricing, with some locations able to offer lower prices due to reduced rent and labor costs [7][19] Group 4: Franchise Dynamics - Franchisees face significant financial pressures, with high initial investments and ongoing costs that can lead to substantial losses if sales do not meet expectations [9][10] - The requirement to purchase supplies exclusively from the franchisor often results in higher costs for franchisees, limiting their ability to manage expenses effectively [10][19] - The franchise model has created a situation where many operators feel they are working primarily to benefit the brand rather than achieving their own financial success [9][20]

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: 梁志天設計集團有限公司 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) | 02262 | 說明 | 梁志天設計集團 | | | | | | | | | | 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 | ...

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。 茲提述梁志天設計集團有限公司（「本公司」）於2025年10月9日有關續租要約書的 公告（「該公告」）。除非另有定義，本公告中使用的詞彙與該公告中定義的詞彙具 有相同意義。 本公告旨在就業主及代理人的最終實益擁有人身份提供補充資料。 誠如該公告所披露，業主及代理人由 Manhattan Realty Limited 實益擁有。據董事 經作出一切合理查詢後所深知、盡悉及確信，Manhattan Realty Limited 的最終實 益擁有人為獨立第三方田北俊先生。 承董事會命 Steve Leung Design Group Limited 梁志天設計集團有限公司 主席 許興利 香港，2025年10月14日 於本公告日期，本公司執行董事為梁志天先生（銅紫荊星章）、蕭文熙先生（首席 執行官）及葉玨鴻先生（首席財務官）；非執行董事為許興利先生（主席）、丁敬勇 先生及黃文熙先生；及獨立非執行董事為曾浩嘉先生、劉珝 ...