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依賴該等內容而引致的任何損失承擔任何責任。 SY HOLDINGS GROUP LIMITED 盛業控股集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：6069） 自願性公告 控股股東及董事會主席增持本公司股份，建議進一步增持計劃 及禁售承諾 本 公 告 乃 由 盛 業 控 股 集 團 有 限 公 司（「本公司」）自 願 作 出。 本 公 司 董 事（「董 事」）會（「董事會」）獲 本 公 司 董 事 會 主 席、執 行 董 事 及 控 股 股 東（具 有 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）賦 予 該 詞 的 涵 義）Tung Chi Fung先 生（「Tung先 生」）告 知，Tung先生於2026年3月18日、19日 及23日 透過其控制 的實體Wisdom Cosmos Limited（「Wisdom Cosmos」）於 ...

Investment Rating - The report maintains a "Recommended" rating for all key companies in the non-bank financial sector [2][4]. Core Insights - The non-bank financial sector is expected to benefit from a stable capital market, with significant improvements in trading activity leading to a recovery in brokerage performance [8]. - The report forecasts a year-on-year increase in brokerage business revenue of 45% for Q1 2026, driven by a substantial rise in average daily trading volume [8]. - The insurance sector is projected to see strong growth in new premium income, although the structure of products may lead to a decline in the margin of new business value (NBV) for life insurance [8]. - The leasing sector is expected to show stable performance, with traditional leasing companies benefiting from lower interest rates, while demand in automotive finance remains strong [8]. Summary by Sections Brokerage Sector - The average daily trading volume for the market is expected to reach 3.3 trillion yuan, representing a year-on-year increase of 88% [8]. - Investment business revenue for the brokerage sector is anticipated to grow by 20% year-on-year in Q1 2026 [8]. - The investment banking business revenue is projected to increase by 70% year-on-year [8]. Insurance Sector - New premium income is expected to grow rapidly due to the shift in deposit behavior and the insurance companies' focus on bancassurance channels [8]. - The year-on-year growth rates for life insurance companies' NBV are forecasted as follows: China Ping An > China Life > New China Life > China Pacific Insurance [8]. - The combined ratio (COR) for property insurance is expected to improve year-on-year due to reduced disaster losses and cost-cutting measures [8]. Leasing Sector - Traditional leasing companies are expected to maintain stable performance, while aircraft leasing faces supply-demand pressures [8]. - The automotive finance sector is projected to continue growing due to strong demand [8]. - The expected year-on-year growth rates for net profit of leasing companies are as follows: Shengye > Yixin Group > Jiangsu Jinzu > Bohai Leasing > Bank of China Aviation Leasing > China Shipbuilding Leasing > Far East Horizon [8]. Investment Recommendations - The report suggests that the non-bank financial sector will benefit from favorable economic conditions and supportive policies, leading to improved market sentiment and valuation recovery [8].

Macro Strategy - The March FOMC meeting maintained the policy interest rate unchanged, with only one dissenting vote, and the dot plot indicates one rate cut for the year, which initially led to a dovish market reaction. However, Powell's hawkish signals regarding inflation and geopolitical tensions have led to a withdrawal of rate cut expectations for the year [1][11][12] - The decision on rate cuts by the Federal Reserve will depend on oil prices, with a potential second peak in oil prices if the Strait is blocked for two months or more, which could eliminate the possibility of rate cuts this year [1][11][12] - The current tight monetary conditions have resulted in declines in gold, US stocks, and copper, while the US dollar index and treasury yields have risen [1][11][12] Fixed Income - The report highlights the contrasting operational focuses of the Chinese and US bond markets, with China adopting a "tactical defense" approach while the US is undergoing "strategic restructuring" amid differing interest rate cycles [2][13] - The issuance of long-term special government bonds in China is expected to continue in 2026, raising concerns about the ability of institutions to absorb the supply [2][13] - The report notes a structural change in China's bond supply, which will have significant impacts on monetary policy mechanisms, institutional capacity, and the establishment of RMB asset pricing benchmarks [2][13] Industry Insights - In the computer industry, investment suggestions include companies involved in computing power, data, algorithms, and applications, with specific recommendations for firms like Goldwind, Yuhang Energy, and Hikvision among others [6] - The gas industry is seeing price stability in sales contracts, with investment opportunities arising from geopolitical tensions affecting gas prices. Companies like Shouhua Gas and Xin Natural Gas are highlighted for their resource capabilities [7] - The report emphasizes the importance of energy independence and the ongoing adjustment of city gas pricing, recommending companies such as Xin'ao Energy and China Gas for their strong dividend yields and market positions [7]

Investment Rating - The report assigns a "Buy" rating to the company, with a current price of HKD 10.47 and a fair value of HKD 13.46 [6]. Core Insights - The company has demonstrated steady profit growth and structural optimization, with a net profit of RMB 480 million in 2025, reflecting a year-on-year increase of 23.6%. Adjusted net profit growth reached 41.5%, and earnings per share (EPS) increased by 23.1% to RMB 0.48 [6]. - Revenue slightly decreased by 1.7% due to business structure adjustments, but technology service revenue rose to 52.4%, becoming a core revenue pillar [6]. - The company is focusing on platformization and technological advancements, with significant growth in platform operation metrics, including over 23,000 cumulative clients (up 27% year-on-year) and a smart matching scale of RMB 332.4 billion (up 33.6% year-on-year) [6]. - The company is diversifying its business layout, maintaining a stable foundation in traditional sectors like infrastructure, pharmaceuticals, and commodities, while also expanding into e-commerce and international markets [6]. - Financial health remains robust, with a 32.4% reduction in financing costs and a 21.5% increase in contributions from joint ventures [6]. Financial Projections - The company expects a net profit of RMB 573.5 million in 2026, representing a 20% growth. The report suggests a reasonable valuation of 22x PE for 2026, corresponding to a fair value of HKD 13.46 per share [6].

Investment Rating - The report maintains a "Buy" rating for the company [3] Core Insights - The company's overall performance for 2025 is in line with expectations, achieving total revenue of 1.06 billion RMB, a year-on-year increase of 1.05%, with a significant rebound compared to the first half of 2025 [9] - The net profit attributable to shareholders reached 479 million RMB, reflecting a year-on-year growth of 25.97% [9] - The annualized ROE stands at 11.34%, an increase of 0.83 percentage points from the first half of 2025 [9] - The company continues to advance its asset-light transformation, with platform technology service revenue growing by 36.63% year-on-year, reaching 474 million RMB [9] - The company has established a strong presence in the e-commerce sector, with cumulative platform service revenue exceeding 6 billion RMB, growing over 4.4 times compared to 2024 [9] Financial Forecasts - Total revenue projections for 2026, 2027, and 2028 are 1.2 billion RMB, 1.395 billion RMB, and 1.674 billion RMB, respectively, with growth rates of 13%, 16%, and 20% [3][10] - Net profit forecasts for the same years are 624 million RMB, 768 million RMB, and 958 million RMB, with year-on-year growth rates of 30%, 23%, and 25% [3][10] - The projected PE ratios for 2026, 2027, and 2028 are 15, 12, and 10 times, respectively [3][10] - The company plans to distribute a final dividend and a special dividend, with an expected payout of 0.6366 RMB per share, resulting in a dividend ratio exceeding 90% and a dividend yield of nearly 7% based on the closing price on March 18, 2026 [9]

EF002 | 香港 | | | --- | --- | | 代扣所得稅信息 | | | 股息所涉及的代扣所得稅 | 不適用 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公告日期，董事會包括兩名執行董事：Tung Chi Fung 先生及王瑩女士；一名非執行董事：盧偉雄先生；及三名獨立非執行董 | | | 事：鄧景山先生、 陳玉英女士及孫偉勇先生。 | | 第 2 頁 共 2 頁 v 1.1.1 免責聲明 | 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，概不對因 | 公告全部或任何部份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。 | | --- | --- | | | 股票發行人現金股息（可選擇貨幣）公告 | | 發行人名稱 | 盛業控股集團有限公司 | | 股份代號 | 06069 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | ...

免責聲明 EF002 | 代扣所得稅信息 | | | --- | --- | | 股息所涉及的代扣所得稅 | 不適用 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公告日期，董事會包括兩名執行董事：Tung Chi Fung 先生及王瑩女士；一名非執行董事：盧偉雄先生；及三名獨立非執行董 | | | 事：鄧景山先生、 陳玉英女士及孫偉勇先生。 | | 第 2 頁 共 2 頁 v 1.1.1 EF002 | 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，概不對因 | | | --- | --- | | 公告全部或任何部份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。 | | | | 股票發行人現金股息（可選擇貨幣）公告 | | 發行人名稱 | 盛業控股集團有限公司 | | 股份代號 | 06069 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 ...

Customer Growth and Business Scale - As of December 31, 2025, the total number of cumulative platform customers exceeded 23,000, representing a year-on-year increase of 27.0% from over 18,100 as of December 31, 2024[4] - The cumulative business scale of intelligent matching reached approximately RMB 332.4 billion, an increase of 33.6% compared to RMB 248.9 billion as of December 31, 2024[4] - The e-commerce business scale grew significantly, with cumulative platform service business size exceeding RMB 6 billion, a growth of over 4.4 times compared to the previous year[9] Revenue and Profitability - Platform technology service revenue was RMB 473.5 million, a year-on-year increase of approximately 36.6% from RMB 346.6 million for the year ended December 31, 2024, accounting for about 52.4% of the total revenue[4] - Net profit increased significantly by 23.6% to approximately RMB 483.2 million for the year ended December 31, 2025, compared to RMB 390.9 million for the previous year[6] - The company recorded a slight decline of approximately 1.7% in main business revenue, totaling about RMB 903.5 million[6] AI and Technology Development - The company achieved a significant increase in AI service revenue, with contract income exceeding RMB 17 million, representing a more than 40-fold increase compared to the six months ended June 30, 2025[4] - The group has invested over RMB 300 million in R&D, holding 100 national invention patents and software copyrights, with AI technology applications improving customer data sorting efficiency by over 95% and contract review accuracy exceeding 98%[13] - The company anticipates that AI value-added services will become a high-margin growth engine, with expected revenue breakthroughs by 2026[19] Dividend Policy - The company plans to distribute a dividend of RMB 0.4047 per ordinary share for the year ended December 31, 2025, up from RMB 0.3470 per share for the previous year[4] - The group has maintained profitability for 12 consecutive years and has implemented a stable dividend policy for 8 years, with total dividends amounting to over RMB 1.4 billion[14] - The group plans to maintain a dividend payout ratio of no less than 90% for the three years ending December 31, 2026, with proposed ordinary share dividends of RMB 0.4047 per share and special dividends of RMB 0.2319 per share for the year ending December 31, 2025[14] Financial Management and Costs - The company has reduced financing costs for small and micro enterprises by over RMB 3.3 billion as of December 31, 2025[6] - Total operating expenses increased by 10.4% year-on-year to RMB 303.9 million, compared to RMB 275.3 million in 2024[31] - Employee costs rose by 3.8% year-on-year to RMB 194.8 million, while depreciation and amortization increased by 19.6% to RMB 38.5 million[31] Risk Management and Compliance - The group has established a dual approval mechanism for credit approval, incorporating core enterprise admission assessments and transaction-level evaluations to manage risk exposure[49] - The group focuses on selected key industries and core enterprises for industry risk assessment, considering financial status, payment capability, and operational records[50] - The group has implemented comprehensive internal control systems and credit risk control policies to assess digital financial solutions[48] Cash Flow and Liquidity - The net cash generated from operating activities for 2025 was RMB 2,204.0 million, a decrease of RMB 555.7 million compared to RMB 2,759.7 million for the year ended December 31, 2024[56] - The company's cash and cash equivalents rose to RMB 712,153,000 in 2025, compared to RMB 515,614,000 in 2024, marking an increase of approximately 38.2%[123] - The net cash used in financing activities was RMB 1,058,985 thousand in 2025, a decrease from RMB 2,585,643 thousand in 2024, indicating improved cash flow management[135] Investments and Acquisitions - The company has capital commitments of approximately RMB 40.0 million for property and equipment purchases and RMB 0.2 million for investments in an associate[79] - The acquisition agreement for Mingfeng Holdings Limited includes a base consideration of RMB 300 million, with potential additional payments of up to RMB 500 million based on performance targets for 2024 and 2025[86] - The company has not reported any significant acquisitions or disposals of subsidiaries, associates, or joint ventures for the fiscal year ending December 31, 2025, up to the date of the announcement[91] Employee and Talent Management - The group has 398 employees as of December 31, 2025, compared to 363 employees as of December 31, 2024[95] - The company is committed to improving and optimizing its compensation and benefits policies to maintain competitiveness in talent recruitment and retention[95] - The group has implemented a share option plan to reward qualified directors and employees contributing to its operations[97] Financial Performance Metrics - Basic earnings per share for the year were RMB 48, up from RMB 39 in 2024, representing a growth of 23.1%[119] - The total assets of the group as of December 31, 2025, were RMB 3,111,741,000, with net assets amounting to RMB 1,332,203,000[113] - The company's total equity increased to RMB 4,416,849,000 in 2025 from RMB 4,114,382,000 in 2024, representing a growth of about 7.4%[125]

FF301 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 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 致：香港交易及結算所有限公司 公司名稱: 盛業控股集團有限公司（於開曼群島註冊成立之有限公司） 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) | 06069 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 HKD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD ...

Core Viewpoint - The company, Shengye (06069.HK), has announced a board meeting scheduled for March 17, 2026, to review and approve the consolidated annual performance for the year ending December 31, 2025, and to consider the proposal for the distribution of a final dividend, if any [1] Group 1 - The board meeting will focus on the comprehensive annual results of the company and its subsidiaries for the fiscal year ending December 31, 2025 [1] - The meeting will also address the potential distribution of a final dividend [1]