Hephaestus Holdings Limited 客思控股有限公司 (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：8173) NOTIFICATION LETTER 通 知 信 函 Dear Non-registered Shareholder (Note 1) , 30 July 2025 The following document(s) of Hephaestus Holdings Limited (the "Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.hephaestus.com.hk and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- ...

Hephaestus Holdings Limited 客思控股有限公司 (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：8173) NOTIFICATION LETTER 通知信函 Dear Shareholder(s), 30 July 2025 If you have not provided us with an email address but now would like to receive an email notification of the publication of the Corporate Communications on the Websites instead of receiving printed notification letter in future or the email address is invalid, please complete the Reply Form overleaf, and then sign ...

Financial Performance - The Group recorded revenue of approximately HK$16.3 million for the year ended 31 March 2025, representing a year-on-year decline of approximately 41.7% from HK$28.0 million for the year ended 31 March 2024[18]. - Revenue decreased from approximately HK$28.0 million for the year ended 31 March 2024 to approximately HK$16.3 million for the year ended 31 March 2025, representing a decrease of approximately HK$11.7 million or approximately 41.7%[29]. - Gross profit for the year ended 31 March 2025 was approximately HK$7.8 million, a decrease of approximately HK$2.9 million from approximately HK$10.7 million for the year ended 31 March 2024, with the gross profit margin increasing from approximately 38.4% to approximately 47.9%[31]. - Other income increased significantly from approximately HK$42,000 to approximately HK$549,000, representing an increase of approximately HK$507,000[32]. - Loss before tax decreased from approximately HK$8.7 million to approximately HK$7.5 million, a decrease of approximately HK$1.1 million[46]. - Total comprehensive expenses decreased by approximately HK$1.1 million, from approximately HK$8.6 million for the year ended 31 March 2024 to approximately HK$7.5 million for the year ended 31 March 2025[52]. - Administrative expenses decreased from approximately HK$15.8 million to approximately HK$14.8 million, representing a decrease of approximately HK$0.9 million or approximately 6.0%[39]. - The share of loss of an associate decreased from approximately HK$1.3 million to approximately HK$1.1 million, a decrease of approximately HK$0.2 million[40]. - Other gains and losses changed from a loss of approximately HK$2,321,000 to a gain of approximately HK$34,000[38]. - Income tax credit decreased from approximately HK$104,000 for the year ended 31 March 2024 to approximately HK$75,000 for the year ended 31 March 2025, a decrease of approximately HK$29,000[51]. Market Conditions - The decline in revenue was primarily due to the postponement or reduction of projects by major property developers, attributed to a challenging property market and macroeconomic uncertainties[19]. - The Hong Kong property market has experienced a downturn since 2019, influenced by social unrest, the COVID-19 pandemic, and a high interest rate environment[19]. - The competitive and fragmented nature of the Hong Kong interior design and fit-out market has intensified pricing and margin pressures on the Company[19]. - Management is actively engaging with clients to capture postponed opportunities as market conditions stabilize[19]. Operational Efficiency - The company has taken proactive measures to optimize operational efficiency and strengthen core competencies in the interior design industry[22]. - The Group aims to maintain and strengthen its market position in Hong Kong while prudently exploring opportunities in Mainland China[55]. - The Group will continue to enhance brand recognition and strengthen marketing efforts to support future growth[55]. Assets and Liabilities - As of 31 March 2025, total assets were approximately HK$39.8 million, down from approximately HK$46.2 million as of 31 March 2024[56]. - Cash and cash equivalents decreased from approximately HK$15.6 million as of 31 March 2024 to approximately HK$3.2 million as of 31 March 2025[56]. - The current ratio as of 31 March 2025 was approximately 1.8 times, down from approximately 3.5 times as of 31 March 2024[57]. - As of 31 March 2025, the loan receivable was HK$7.7 million, compared to nil as of 31 March 2024[64]. - The loan receivable of HK$7.7 million bears an interest rate of 6.875% per annum and is secured by comprehensive security arrangements[65]. - The total gross carrying amount of loan receivables was HK$7,700,000, representing 100% secured loans[72]. - The corporate borrower category accounted for HK$7,700,000 in loan receivables as of March 31, 2025, with no prior year balance reported[73]. - There were no impairment allowances for loan receivables as of March 31, 2025, indicating a 0% impairment rate[74]. - The capital structure of the company remained unchanged as of March 31, 2025, with no material capital commitments or contingent liabilities reported[75][76][77]. Human Resources - The total staff costs for the year ended March 31, 2025, amounted to approximately HK$13.9 million, a decrease from approximately HK$18.8 million in the previous year[95]. - The group had 37 employees as of March 31, 2025, down from 41 employees in the previous year[95]. - Approximately 40% of Directors and 51% of the total workforce, including senior management, were female as of the date of this annual report[191]. - The Company promotes employee diversity measures at all levels, including gender diversity in mid to senior level recruitment[199]. - The Company plans to provide more suitable on-job training for female staff to develop a pipeline of female senior management[199]. Corporate Governance - The board believes that maintaining high corporate governance standards is crucial for the group's continuous growth and has complied with all applicable code provisions throughout the year[101]. - The Company has established a Nomination Committee to oversee the appointment and re-election of Directors, ensuring compliance with governance standards[123]. - The Board comprises five Directors, including Mr. Huang Liang as Chairman & Chief Executive Officer, with an average service length of 2.4 years[118]. - The Company emphasizes continuous professional development for Directors and senior management[114]. - The Company has adopted a code of conduct for securities transactions by directors and relevant employees, ensuring compliance with GEM Listing Rules[104]. - The Board has established policies for compliance with legal and regulatory requirements, which are regularly reviewed[114]. - The Company Secretary maintains detailed minutes of Board meetings, ensuring transparency and record-keeping[132]. - The Board will continue to review the separation of the roles of chairman and chief executive officer as circumstances evolve[154]. - The Company has established three Board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, each with defined written terms of reference[172]. - The Remuneration Committee consists of three independent non-executive directors, ensuring oversight of compensation matters[174]. - The Board has mechanisms in place to ensure independent views and input are available, including the appointment of at least three independent non-executive directors[158]. - All independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules, ensuring compliance with governance standards[165]. - The company has received annual written confirmations from independent non-executive directors regarding their independence, maintaining transparency and accountability[165]. ESG and Sustainability - The group focuses on achieving sustainable growth in both financial and ESG performance, emphasizing disciplined management of revenue, profitability, and investment returns[109]. - The group is increasingly aware of ESG issues and is focusing on supporting the transition to a low-carbon and sustainable future[109].

Company Overview - Kesi Holdings Limited primarily engages in interior design and execution services, focusing on private residences, corporate offices, serviced apartments, hotels, residential clubs, show flats, and sales offices [2] - The company operates in markets including Hong Kong, Japan, Macau, and the Philippines [2] Financial Performance - As of March 31, 2025, Kesi Holdings reported total revenue of 15.0467 million HKD, a year-on-year decrease of 41.7% [2] - The company recorded a net profit attributable to shareholders of -6.8926 million HKD, reflecting a year-on-year increase of 12.69% [2] - The gross profit margin stood at 47.92%, while the debt-to-asset ratio was 27.77% [2] Stock Performance - Kesi Holdings' stock price closed at 0.149 HKD per share, marking an increase of 29.57% with a trading volume of 2.3449 million shares and a turnover of 330,000 HKD [1] - Over the past month, the stock has seen a cumulative increase of 3.6%, but it has declined by 30.3% year-to-date, underperforming the Hang Seng Index, which has risen by 25.27% [2] Valuation Metrics - The company's price-to-earnings (P/E) ratio is -3.32, ranking 170th in the industry, compared to the average P/E ratio of 10.64 for the construction industry [2] - Other companies in the industry have P/E ratios such as HPC Holdings at 0.93, Pujiang International at 1.01, and others ranging from 1.09 to 2.37 [2] Market Sentiment - Currently, there are no institutional investment ratings or recommendations for Kesi Holdings [2]

Hephaestus Holdings Limited 客思控股有限公司 （「本公司」） （於開曼群島註冊成立之有限責任公司） （股份代號：8173） 提名委員會（「委員會」） 職權範圍 （由本公司於二零一二年三月三十日採納 及於二零一八年十二月三十一日及二零二五年六月三十日修訂） （如中英文版本有任何歧義，概以英文版本為準。） 1. 成立 3. 議事程序 4. 決議案 決議案可由委員會成員在會議上經舉手或經書面決議通過。 5. 替補委員會成員 委員會成員不得委任任何替補成員。 (a) 委員會的成員須由董事會委任，委員會的成員須為本公司董事及由不 少於三名成員組成並必須以獨立非執行董事佔大多數，成員中將至少 有一名不同性別的成員。 (b) 委員會主席（「主席」）須由董事會委任，並須為董事會主席或獨立 非執行董事。 (c) 委員會秘書（「秘書」）須為公司秘書或由董事會委任之任何人仕。 (d) 董事會及委員會可通過獨立決議案，撤回委員會成員之委任，或委任 新增成員加入委員會。 (a) 除非經委員會大部份成員同意，否則召開會議之通知最少須於七天前 發出。委員會各成員或秘書可於任何時候召開委員會會議。秘書須根 據公司 ...

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，概不對因本公告全部 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。 Hephaestus Holdings Limited 客思控股有限公司 （於開曼群島註冊成立之有限責任公司） （股份代號：8173） 截至二零二五年三月三十一日止年度之 年度業績公告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的特色 本公告將自刊登日期起最少連續七日載於聯交所網站www.hkexnews.hk內 之「最 新 上 市 公 司 公 告」網 頁。本 公 告 亦 將 於 本 公 司 網 站www.hephaestus.com.hk內刊登。 – 1 – 本公司董事會（「董事會」）欣然宣佈本集團截至二零二五年三月三十一日止年度（「本 年 度」）之 綜 合 年 度 業 績 連 同 上 一 個 財 政 年 度 之 比 較 數 字 如 下： 綜合損益及其他全面收益表 截至二零二五年三月三十一日止年度 | | 附 註 | 二零二五年 | 二零二四年 | | --- | --- | ...

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，概不對因本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。 Hephaestus Holdings Limited 客 思 控 股 有 限 公 司 客思控股有限公司（「本公司」，連同其附屬公司「本集團」）董事（「董事」）會 （「董事會」）茲通告本公司將於二零二五年六月二十四日（星期二）舉行董事會會 議，以（其中包括）考慮及批准本集團截至二零二五年三月三十一日止年度之經審核 之年度業績，及考慮建議派發末期股息（如有）。 承董事會命 客思控股有限公司 主席、行政總裁兼執行董事 黃亮 本公告之資料乃遵照香港聯合交易所有限公司GEM證券上市規則而刊載，旨在提供有 關本公司之資料；各董事願就本公告的資料共同及個別地承擔全部責任。各董事在作 出一切合理查詢後，確認就其所知及所信，本公告所載資料於各重要方面均屬準確完 備，沒有誤導或欺詐成份，且亦無遺漏任何其他事項，足以令致本公告或其所載任何 陳述產生誤導。 （於開曼群島註冊成立之有限責任公司） （股份代號：8173） 董事會 ...

Hephaestus Holdings Limited 客思控股有限公司 （於開曼群島註冊成立之有限責任公司） （股份代號：8173） 審核委員會 鄧展庭先生 （主席） 湯玉瑩女士 劉俊達先生 提名委員會 董 事 執行董事 黃亮先生 （主席，行政總裁） 葉曉瑩女士 獨立非執行董事 鄧展庭先生 湯玉瑩女士 劉俊達先生 董事會設有三個委員會，有關委員會的組成載列如下： 董事名單及其角色和職能 客 思 控 股 有 限 公 司 董 事 會（「董事會」）成 員 載 列 如 下： 劉俊達先生 （主席） 鄧展庭先生 湯玉瑩女士 薪酬委員會 湯玉瑩女士 （主席） 鄧展庭先生 劉俊達先生 香港，二零二五年一月二十七日 ...

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倚賴該等內容而引致的任何損失承擔任何責任。 Hephaestus Holdings Limited 客思控股有限公司 （於開曼群島註冊成立之有限責任公司） （股份代號：8173） 獨立非執行董事變動 及 董事會委員會組成變動 獨立非執行董事辭任 客 思 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事（「董 事」，各 為 一 名「董 事」）會（「董事會」）謹 此 宣 佈，李 文 俊 先 生（「李先生」）因 處 理 其 他 業 務， 已 辭 任 獨 立 非 執 行 董 事，並 不 再 擔 任 本 公 司 提 名 委 員 會（「提名委員會」）主 席 以 及 本 公 司 審 核 委 員 會（「審核委員會」）及 本 公 司 薪 酬 委 員 會（「薪酬委員會」）各 自 的 成員，自二零二五年一月二十七日起生效。 李 先 生 已 確 認，彼 與 董 事 會 並 無 ...

（於開曼群島註冊成立之有限公司） (Stock code 股份代號：8173) Hephaestus Holdings Limited 客思控股有限公司 (Incorporated in the Cayman Islands with limited liability) NOTIFICATION LETTER 通 知 信 函 • Interim Report 2024/25 Please provide your email address to the Company via Hong Kong Securities Clearing Company Limited ("HKSCC") if you would like to receive an email notification of the publication of the Corporate Communication(s) (Note 2) on the Websites instead of receiving printed notification letter in future. If the Company does not ...