Core Viewpoint - China Starch (03838) experienced a decline of over 5%, with a current price of HKD 0.175 and a trading volume of HKD 2.4476 million [1] Financial Performance - For the fiscal year ending December 31, 2025, the company expects total revenue of approximately RMB 10.058 billion, while the revenue for 2024 is projected to be RMB 11.415 billion [1] - The company anticipates a significant decrease of about 64% in pre-tax profit for the current year, compared to a pre-tax profit of RMB 838 million for the fiscal year ending December 31, 2024 [1] Factors Affecting Performance - The primary reasons for the expected decline in revenue and pre-tax profit include rising costs of corn kernels negatively impacting profit margins, a significant drop in lysine market prices in the second half of the previous year affecting profitability, and the anticipated traditional peak season for starch sugar not materializing as expected [1]

Core Viewpoint - The company expects a significant decline in revenue and profit for the fiscal year ending December 31, 2025, primarily due to rising corn prices and market oversupply in the starch and lysine sectors [1] Group 1: Financial Projections - The company anticipates total revenue of approximately RMB 10.058 billion for the fiscal year ending December 31, 2025, compared to RMB 11.415 billion for 2024 [1] - The expected pre-tax profit for the current year is projected to decrease by about 64% from RMB 0.838 billion in 2024 [1] Group 2: Contributing Factors to Financial Decline - The strong performance in 2024 was driven by a decrease in corn grain costs, while the current year has seen a continuous rise in corn prices over three consecutive quarters, negatively impacting profit margins [1] - The ongoing oversupply in the Chinese corn starch and lysine industry has exerted downward pressure on market prices, particularly with a significant drop in lysine prices in the second half of the current year [1] - Anti-dumping investigations initiated by several countries against Chinese lysine products have led to reduced orders from overseas buyers, causing some products initially intended for export to flood the domestic market, further exacerbating the oversupply situation and putting additional downward pressure on domestic lysine prices [1] - The starch expansion project at the company's Linqing production base has affected production capacity due to the dismantling of one starch production line to facilitate construction [1] - The expected traditional peak season for starch sugar during national holidays and summer months did not materialize as anticipated this year [2]

Company News - Tongguan Gold (00340.HK) expects a net profit of approximately HKD 820 million to HKD 840 million in 2025, representing a year-on-year increase of about 289% to 298%, mainly due to increased production and sales of gold and higher average selling prices [1] - China State Construction Industry (00830.HK) anticipates a net profit of approximately HKD 237 million for the fiscal year 2025, down from HKD 650 million in the previous year, primarily due to a decrease in new project volume and revenue [1] - Kintor Group (00148.HK) projects a net profit growth of over 165% in 2025, exceeding HKD 4.32 billion, driven by growth in investment business and profits from copper-clad laminates [1] - Kintor Laminates (01888.HK) expects a net profit increase of over 80% in 2025, exceeding HKD 2.39 billion, attributed to strong demand for copper-clad laminates and upstream materials including fiberglass yarn, fiberglass cloth, and copper foil [1] - China Starch (03838.HK) forecasts total revenue of RMB 10.058 billion in 2025, with a pre-tax profit of RMB 838 million, a significant decrease of approximately 64% year-on-year [2] Other Developments - Wuyi Vision (06651.HK) has successfully completed systematic adaptation and deep optimization of SimOne 4.0 on the Moore Thread MTT S5000 GPU [3] - China Resources Land (03377.HK) issued a total of 1,996,400 new shares due to the conversion of mandatory convertible bonds [3] - Cornerstone Pharmaceuticals-B (02616.HK) received approval from the UK MHRA for a new indication of Sugliucan in the treatment of small cell lung cancer [4] - MIRXES-B (02629.HK) completed the enrollment process for the CADENCE CRC study [5] - Jingrui Holdings (01862.HK) received additional resumption guidance from the Stock Exchange and continues to be suspended [6] Buyback Activities - Xuanwu Cloud (02392.HK) repurchased 4,000 shares at a cost of HKD 6.22778 million, with buyback prices ranging from HKD 1.52 to HKD 1.57 [7] - Geely Automobile (00175.HK) spent HKD 11.263 million to repurchase 659,000 shares, with buyback prices between HKD 16.99 and HKD 17.18 [8] - NetEase Cloud Music (09899.HK) repurchased approximately HKD 14.9977 million worth of 94,500 shares, with buyback prices ranging from HKD 157.2 to HKD 160.9 [9]

Core Viewpoint - The company expects a significant decline in revenue and profit for the fiscal year ending December 31, 2025, compared to the previous year, primarily due to rising corn prices and market oversupply in the lysine sector [1] Group 1: Financial Projections - The company anticipates total revenue of approximately RMB 10.058 billion for the fiscal year ending December 31, 2025, down from RMB 11.415 billion in 2024 [1] - The expected profit before tax for the current year is projected to decrease by approximately 64% compared to the RMB 838 million reported for the fiscal year ending December 31, 2024 [1] Group 2: Contributing Factors to Decline - The strong performance in 2024 was driven by a decrease in corn kernel costs, while the current year has seen a continuous rise in corn prices over three consecutive quarters, negatively impacting profit margins [1] - The ongoing oversupply in the Chinese corn starch and lysine industries has exerted downward pressure on market prices, particularly affecting lysine prices significantly in the second half of the current year [1] - Anti-dumping investigations initiated by several countries against Chinese lysine products have led to reduced orders from overseas buyers, causing some products initially intended for export to flood the domestic market, further exacerbating the oversupply situation and putting additional downward pressure on domestic lysine prices [1] - The starch expansion project at the company's Linqing production base has impacted production capacity due to the dismantling of one starch production line to facilitate construction [1][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，並明確表示概不就因本公告 全部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 本公司董事會（「董事會」）謹此知會其股東（「股東」）及有意投資者，根據對本 集團截至二零二五年十二月三十一日止年度（「本年度」）之未經審核綜合管理 賬目的初步審閱，本集團預計錄得總收入約人民幣10,058百萬元，而二零二四 年的總收入為人民幣11,415百萬元。相較於截至二零二四年十二月三十一日止 年度的除稅前利潤人民幣838百萬元，本集團預計本年度錄得除稅前利潤大幅 減少約64%。 1 本年度預計收入及除稅前利潤減少主要由於以下因素。 CHINA STARCH HOLDINGS LIMITED 中國澱 粉 控股有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：3838） 盈利預警 本公告由中國澱粉控股有限公司（「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(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 ...

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: 中國澱粉控股有限公司 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) | 03838 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | 本月底法 ...

Summary of Key Points Core Viewpoint - *ST Sitong (603838.SH) is expected to report significant losses for the year 2025, with projected total profits ranging from -83 million to -65 million yuan and net profits attributable to shareholders between -84 million and -66 million yuan, indicating a challenging financial outlook for the company [1][2]. Financial Projections - The company anticipates a total profit for 2025 of between -83 million and -65 million yuan [1] - The expected net profit attributable to the parent company is projected to be between -84 million and -66 million yuan [1] - The net profit after deducting non-recurring gains and losses is estimated to be between -92 million and -73 million yuan [1] - The expected operating revenue for 2025 is forecasted to be between 360 million and 410 million yuan [1] - The net assets at the end of 2025 are projected to be between 850 million and 940 million yuan [1] Reasons for Performance Decline - The primary reasons for the expected performance decline include: 1. Decreased market demand for products due to ongoing international geopolitical conflicts and changing market conditions, leading to a decline in export revenue from the ceramic business and increased costs due to lower export tax rebates, resulting in reduced gross profit and gross margin [2] 2. The inclusion of Dalian Yiwei New Materials Co., Ltd.'s full-year operating results in the consolidated financial statements is expected to increase operating revenue by approximately 140 million yuan, but high raw material procurement costs and declining sales prices have led to significant losses [2] 3. The company's export business is primarily settled in US dollars, and increased exchange rate fluctuations have resulted in higher foreign exchange losses [2] 4. There are indications of asset impairment based on cautious analysis of the current market competition and future development trends, leading to increased provisions for asset impairment losses, particularly concerning fixed assets and inventory [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，並明確表示概不就因本公告 全部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 CHINA STARCH HOLDINGS LIMITED 中國澱 粉 控股有限公 司 | | 普通決議案 | 票數(%) | | | --- | --- | --- | --- | | | | 贊成 | 反對 | | 1(a). | 批准、確認及追認熱電廠建築合同（定義 | 175,144,501 | 0 | | | 及詳情見本公司日期為二零二六年一月 | (100.00%) | (0.00%) | | | 九日之通函（「通函」））、其條款及條件以 | | | | | 及其項下擬進行之交易，及在所有方面 | | | | | 批准、確認、追認及採納在本決議案日期 | | | | | 前本公司任何董事（「董事」）就熱電廠建 | | | | | 築合同及其項下擬進行之交易或據此而 | | | | | 採取的任何行動。 | | | | 1(b). | 授權任何一名或多名董事代表本公司簽 | 175,144,5 ...

CHINA STARCH HOLDINGS LIMITED 中國澱粉控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立之有限公司） （Stock Code 股份代號：3838） 9 January 2026 Dear Non-registered Shareholder Notification of publication of (1) the Circular dated 9 January 2026 and (2) Notice of Extraordinary General Meeting on the website of China Starch Holdings Limited (the "Company") We hereby notify you that the above corporate communications (the "Current Corporate Communications") of the Company is now available on the Co ...

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （Stock Code：3838） （股份代號：3838） NOTIFICATION LETTER 通知信函 Dear Registered Shareholder(s), – Notice of publication of Circular dated 9 January 2026 together with Notice of Extraordinary General Meeting and Proxy Form (the "Current Corporate Communication") The English and Chinese versions of the Current Corporate Communication are now available on the Company's website at www.chinastarch.com.hk and the website of The Stock Exchange of ...