WEALTH GLORY HOLDINGS LIMITED 富譽控股有限公司 If you for any reason have difficulty in receiving email notification or gaining access to the Website Version of the Corporate Communications and would like to receive the Current Corporate Communication and all future Corporate Communications in printed form, please complete, sign the enclosed Reply Form and return it to the Company's Branch share registrar in Hong Kong, Tricor Investor Services Limited ("Branch Share Registrar") at 17/F, Far East Finance Centre, 16 ...

WEALTH GLORY HOLDINGS LIMITED 富譽控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） （於開曼群島註冊成立的有限公司） （股份代號：8269） （Stock Code 股份代號：8269） NOTIFICATION LETTER 通知信函 31 July 2025 Dear Non-registered Shareholder(s) (Note 1) , Wealth Glory Holdings Limited (the "Company") – Notification of publication of 2025 Annual Report and Circular dated 31 July 2025 together with Notice of Annual General Meeting (the "Current Corporate Communication") The English and Chinese versions of the Com ...

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通告之內容概不負責， 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通告全部或任何 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。 WEALTH GLORY HOLDINGS LIMITED 富譽控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8269） 股東週年大會通告 茲通告富譽控股有限公司（「本公司」）謹訂於二零二五年九月二十六日（星期五） 上午十一時正假座香港皇后大道中99號中環中心12樓2室舉行股東週年大會，以處 理以下事項：－ 1 1. 省覽、考慮及採納截至二零二五年三月三十一日止年度之經審核綜合財務報表、 本公司董事（「董事」）會報告及本公司外聘核數師報告。 2. (a) 重選藺夙女士為執行董事； (b) 重選陳嘉洪先生為獨立非執行董事；及 (c) 授權董事會（「董事會」）釐定董事薪酬。 3. 重新委聘致寶信勤會計師事務所有限公司為本公司外聘核數師並授權董事會 釐定其酬金。 4. 作為特別事項，考慮並酌情通過下列決議案（「決議案」）作為普通決議案（無 論有否修訂）： A. 「動議： (I) 在下文(III) ...

WEALTH GLORY HOLDINGS LIMITED 富譽控股有限公司 （於開曼群島註冊成立的有限公司） 請於適當空格內填上「✓」號，以表明 閣下的投票意願。4 | | 普通決議案 | 贊成4 | 反對4 | | --- | --- | --- | --- | | 1. | 省覽並採納截至二零二五年三月三十一日止年度的經審核綜合財務報表、 | | | | | 本公司董事（「董事」）會報告及本公司外聘核數師報告。 | | | | 2. | (a) 重選藺夙女士為執行董事。 | | | | | (b) 重選陳嘉洪先生為獨立非執行董事。 | | | | | (c) 授權董事會（「董事會」）釐定董事的薪酬。 | | | | 3. | 重新委聘致寶信勤會計師事務所有限公司為本公司外聘核數師並授權董事 | | | | | 會釐定其酬金。 | | | | 4. | A 授予董事發行、配發及以其他方式處理本公司股份的一般授權。 | | | | | B 授予董事購回本公司股份的一般授權。 | | | | | C 將本公司根據第4B項決議案購回的股份數目加入根據第4A項決議案授 | | | | | 予董事之授權內。 | | ...

此乃要件 請即處理 閣下如對本通函之任何方面或採取之行動有任何疑問，應諮詢 閣下之持牌證券交易 商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有富譽控股有限公司（「本公司」）之股份，應立即將本通 函及隨附之代表委任表格送交買主或承讓人，或經手買賣或轉讓之銀行、持牌證券交 易商或其他代理商以便轉交買主或承讓人。 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通函之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通函全部或任何部分 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。 WEALTH GLORY HOLDINGS LIMITED 富譽控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8269） (1)建議授出發行及購回股份的一般授權； (2)建議重選董事； (3)建議重新委聘核數師； 及 (4)股東週年大會通告 本公司謹訂於二零二五年九月二十六日（星期五）上午十一時正假座香港皇后大道中 99號中環中心12樓2室舉行股東週年大會，大會通告載於本通函第14至19頁。隨本通函 附奉適用於股東週年大會之代表委任表格。 無論 閣下能否出席 ...

Company Information [Company Basic Information](index=4&type=section&id=Company%20Basic%20Information) Fuyu Holdings Limited is a Cayman Islands-incorporated company listed on GEM, with key information on its board, legal representatives, and auditors disclosed - The Company is incorporated in the Cayman Islands and listed on GEM of the Stock Exchange of Hong Kong Limited, stock code 8269[8](index=8&type=chunk)[9](index=9&type=chunk) - The Board of Directors includes Executive Director Ms. Lin Su and three Independent Non-Executive Directors: Mr. Lau Wing Sing, Mr. Tam Chak Chi, and Mr. Chan Ka Hung[8](index=8&type=chunk) - Ms. Tam Tsz Yan is the Company Secretary, and Treasure Trust CPA Limited is the auditor[8](index=8&type=chunk) Directors' Report [Annual Results and Business Overview](index=5&type=section&id=Annual%20Results%20and%20Business%20Overview) The Group's FY2025 business focused on natural resources, fashion product sales, and money lending, with investments in listed securities and diversification efforts - For the financial year ended March 31, 2025, the Group's business primarily focused on natural resources and commodity trading, fashion product sales, and money lending business[11](index=11&type=chunk) - The Group utilized short-term idle funds for investments in listed securities and actively sought other suitable investment opportunities for business diversification[11](index=11&type=chunk)[12](index=12&type=chunk) - The Group continued to focus on fashion product sales and distribution in Hong Kong and Asia, including electronic accessories, storage boxes, and fashion apparel, actively participating in marketing activities and enhancing R&D capabilities[11](index=11&type=chunk) Management Discussion and Analysis [Financial Review](index=6&type=section&id=Financial%20Review) FY2025 revenue grew 9.6% to HK$35.4 million, gross profit increased to HK$7.3 million, and loss attributable to owners significantly reduced to HK$3.6 million due to cost control and higher gross profit Key Financial Indicators for FY2025 (HK$ thousand) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 35,400 | 32,300 | +9.6% | | Operating Gross Profit | 7,300 | 2,600 | +180.8% | | Other Income and Losses | 2,900 (Net Gain) | (60) (Net Loss) | - | | Operating Expenses | 10,400 | 15,500 | -32.9% | | Finance Costs | 400 | 400 | 0% | | Loss Attributable to Owners | (3,600) | (30,700) | -88.3% | - Revenue growth was primarily driven by increased sales and distribution of consumer goods, while money lending business revenue decreased[14](index=14&type=chunk) - Operating expenses decreased by **32.9%**, mainly due to effective cost control measures and reduced marketing expenses[15](index=15&type=chunk) [Business Review](index=6&type=section&id=Business%20Review) The Group's business segments include natural resources, fashion and consumer goods, money lending, and securities investment, with a shift towards consumer goods and increased investment portfolio fair value - The Group's business is divided into four operating segments: natural resources and commodities, branded fashion products and other consumer goods, money lending, and securities investment[17](index=17&type=chunk) [Natural Resources and Commodities](index=6&type=section&id=Natural%20Resources%20and%20Commodities) Due to an unfavorable macro environment, the Group suspended natural resource trading in 2024, reallocating resources to consumer and fashion product sales, while monitoring for future re-engagement - In 2024, due to an unfavorable macro environment, the Group did not engage in crude palm oil trading business[18](index=18&type=chunk) - The Group reallocated more resources to the consumer and fashion product sales segment and will continue to monitor the business environment[18](index=18&type=chunk) [Branded Fashion Products and Other Consumer Goods](index=7&type=section&id=Branded%20Fashion%20Products%20and%20Other%20Consumer%20Goods) The Group is optimistic about its consumer and fashion business, which generated HK$34.2 million in FY2025, expanding through R&D, brand collaborations, marketing, and planned use of motion-sensing game technology Revenue from Consumer and Fashion Products (HK$ thousand) | Year | Revenue (HK$ thousand) | | :--- | :--- | | 2025 | 34,200 | | 2024 | 30,400 | - The Group continued to sell popular branded fashion products and its own brand products, enhancing product features through technology and R&D[21](index=21&type=chunk) - To enhance brand image, the Group will develop new intellectual property, participate in marketing activities, place internet advertisements, and plans to use motion-sensing game technology to increase brand awareness[21](index=21&type=chunk) [Money Lending Business](index=8&type=section&id=Money%20Lending%20Business) Money lending revenue decreased to HK$1.2 million in FY2025, but management sees continued demand, providing unsecured loans at 6-12% annual interest, repayable within 12 months Revenue from Money Lending Business (HK$ thousand) | Year | Revenue (HK$ thousand) | | :--- | :--- | | 2025 | 1,200 | | 2024 | 1,900 | - The Group's money lending business primarily provides secured or unsecured loans to individuals and corporations in Hong Kong and China, funded by internal resources[25](index=25&type=chunk) - Loans receivable bear annual interest rates ranging from **6% to 12%**, are all unsecured, and are repayable within 12 months after the reporting period end[26](index=26&type=chunk) [Securities Investment](index=9&type=section&id=Securities%20Investment) The securities investment segment reported a net loss of HK$1 million in FY2025, but the portfolio's fair value significantly increased to HK$11.3 million, with a diversified strategy focused on Hong Kong-listed securities Net Loss from Securities Investment and Investment Portfolio Fair Value (HK$ thousand) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net Loss from Securities Investment | (1,000) | (60) | | Investment Portfolio Fair Value | 11,300 | 300 | - The increase in investment portfolio fair value was mainly due to borrowers repaying securities assets[31](index=31&type=chunk) - The Group will maintain a diversified investment portfolio across different market segments to minimize associated risks[32](index=32&type=chunk) [Financial Position](index=9&type=section&id=Financial%20Position) As of March 31, 2025, the Group's net assets decreased to HK$7.3 million, primarily due to increased trade payables, with non-current assets at zero Group Net Assets and Net Current Assets (HK$ thousand) | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net Assets | 7,300 | 10,800 | | Non-Current Assets | 0 | 13 | | Net Current Assets | 7,300 | 17,100 | - The decrease in net assets and net current assets was primarily due to an increase in trade payables of approximately **HK$8 million**[33](index=33&type=chunk)[35](index=35&type=chunk) [Liquidity and Financial Resources](index=10&type=section&id=Liquidity%20and%20Financial%20Resources) As of March 31, 2025, the Group's gearing ratio rose to 46.5%, current ratio fell to 1.2, mainly due to increased trade payables and reclassified bonds, with no available bank facilities Group Liquidity Indicators | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Gearing Ratio | 46.5% | 36.7% | | Current Ratio | 1.2 | 1.4 | - The decrease in the current ratio was mainly due to an increase in trade payables and the reclassification of bonds payable from non-current to current liabilities[36](index=36&type=chunk) - As of March 31, 2025, the Group had no available bank facilities[37](index=37&type=chunk) [Significant Acquisitions and Disposals of Subsidiaries and Associates](index=10&type=section&id=Significant%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%20and%20Associates) The Group undertook no other significant acquisitions or disposals of subsidiaries and associates during the year ended March 31, 2025 - The Group had no significant acquisitions or disposals of subsidiaries and associates during the current year[38](index=38&type=chunk) [Significant Investments](index=10&type=section&id=Significant%20Investments) As of March 31, 2025, the Group's financial assets at fair value through profit or loss totaled HK$11.3 million, primarily Hong Kong-listed equity investments, managed with a passive, diversified strategy Details of Significant Investments (as of March 31, 2025) | Company Name | Fair Value (HK$ thousand) | Approximate Percentage of Financial Assets (%) | Approximate Percentage of Total Assets (%) | | :--- | :--- | :--- | :--- | | New Concepts Holdings Limited | 3,914 | 34.6 | 6.7% | | China Investment and Finance Group Limited | 3,570 | 31.5 | 6.1% | | Other Securities | 3,836 | 33.9 | 6.5% | | **Total** | **11,320** | **100.0** | **19.3%** | - The Group adopts a passive investment strategy and maintains a diversified investment portfolio to mitigate risks[41](index=41&type=chunk)

Group 1 - The core viewpoint of the news highlights the significant stock performance of Fuyue Holdings, which has seen a cumulative increase of 213.79% over the past month and 468.75% year-to-date, outperforming the Hang Seng Index by 22.22% [1] - As of March 31, 2025, Fuyue Holdings reported total revenue of 32.68 million yuan, a year-on-year increase of 9.74%, and a net profit attributable to shareholders of -3.29 million yuan, reflecting a year-on-year growth of 88.41% [1] - The company has a gross profit margin of 20.61% and a debt-to-asset ratio of 86.81% [1] Group 2 - Fuyue Holdings operates primarily in the fashion apparel sector, engaging in design, manufacturing, and sales through four divisions: consumer goods trading, natural resources and commodities, lending, and securities investment [2] - The average price-to-earnings (P/E) ratio for the textile and apparel industry is -16.56 times, with a median of 3.57 times, while Fuyue Holdings has a P/E ratio of -113.84 times, ranking 66th in the industry [1]

Summary of Key Points Core Viewpoint - As of July 3, a total of 120 stocks reached their 52-week highs, indicating a strong market performance with notable leaders in the list [1]. Group 1: Top Performers - The top three stocks with the highest increase rates are: - 富誉控股 (Fuyou Holdings) at 90.76%, closing at 0.435 with a peak of 0.475 [1] - 信义能源 (Xinyi Energy) at 65.00%, closing at 1.200 with a peak of 1.980 [1] - 中国三三传媒 (China San San Media) at 42.86%, closing at 1.710 with a peak of 1.900 [1] Group 2: Additional Notable Stocks - Other notable stocks include: - ITE HOLDINGS at 34.21% increase, closing at 0.047 with a peak of 0.051 [1] - 星凯控股 (Xingkai Holdings) at 30.00%, closing at 0.480 with a peak of 0.650 [1] - 北京北辰实业股份 (Beijing Beichen Industrial) at 26.47%, closing at 0.940 with a peak of 1.290 [1] Group 3: Overall Market Trends - The overall trend shows a significant number of stocks achieving new highs, reflecting positive investor sentiment and market conditions [1].

[Financial Highlights](index=2&type=section&id=Financial%20Highlights) [Key Financial Performance](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The company achieved a **9.6%** turnover growth and a significant **181.7%** gross profit increase in FY2025, with effective cost control and a substantial reduction in impairment losses on financial assets narrowing the annual loss from **HK$30.70 million** to **HK$3.56 million**, and a corresponding decrease in loss per share Consolidated Statement of Profit or Loss Key Data (For the year ended March 31) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Turnover | 35,409 | 32,265 | +9.7% | | Gross Profit | 7,299 | 2,591 | +181.7% | | Operating Loss | (3,085) | (30,320) | Loss narrowed by 89.8% | | Loss for the Year Attributable to Owners of the Company | (3,560) | (30,704) | Loss narrowed by 88.4% | | Basic Loss Per Share (HK cents) | (0.40) | (3.45) | Loss narrowed by 88.4% | - Provision for impairment losses on financial assets significantly decreased from **HK$15.83 million** in the previous year to **HK$2.04 million** this year, a key factor in the narrowed loss[4](index=4&type=chunk)[30](index=30&type=chunk) [Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the company's total assets slightly decreased while total liabilities increased, leading to a decline in net assets from **HK$10.82 million** to **HK$7.26 million**, with a significant drop in net current assets Consolidated Statement of Financial Position Key Data (As of March 31) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 55,032 | 57,771 | -4.7% | | Total Liabilities | 47,772 | 46,951 | +1.7% | | Net Assets | 7,260 | 10,820 | -32.9% | | Net Current Assets | 7,260 | 17,081 | -57.5% | - Accounts payable significantly increased from **HK$3.85 million** to **HK$11.90 million**, a primary reason for the rise in current liabilities and decline in net current assets[5](index=5&type=chunk)[43](index=43&type=chunk) [Management Discussion and Analysis](index=14&type=section&id=Management%20Discussion%20and%20Analysis) [Financial Review](index=14&type=section&id=Financial%20Review) This fiscal year, the Group's turnover grew **9.6%** to **HK$35.40 million** due to increased consumer product sales, while gross profit significantly rose to **HK$7.30 million** from higher-margin product sales, and effective cost control reduced administrative expenses by **32.9%**, collectively narrowing the loss attributable to owners from **HK$30.70 million** to **HK$3.60 million** - Turnover increased by **9.6%** to **HK$35.40 million**, primarily driven by increased sales and distribution of consumer products[45](index=45&type=chunk) - Gross profit increased from **HK$2.60 million** to **HK$7.30 million**, mainly due to higher sales of high-margin products[45](index=45&type=chunk) - Administrative and other operating expenses decreased by **32.9%** year-on-year, primarily due to effective cost control measures and reduced marketing expenses[45](index=45&type=chunk) - Annual loss significantly narrowed to **HK$3.60 million** (2024: HK$30.70 million), mainly attributable to cost control, increased gross profit, and reduced provision for impairment losses on financial assets[46](index=46&type=chunk) [Business Review](index=14&type=section&id=Business%20Review) The Group's business is divided into four segments; this year, resources were concentrated on the strong-performing "Brands, Fashion Apparel and Other Consumer Products" business, which achieved robust revenue growth, while the money lending business saw reduced but still contributing income, securities investment recorded a loss, and natural resources and commodities trading was suspended due to an unfavorable macroeconomic environment Segment Performance by Business (For the year ended March 31) | Business Segment | 2025 Segment Results (HK$ thousand) | 2024 Segment Results (HK$ thousand) | Key Dynamics | | :--- | :--- | :--- | :--- | | Trading of Consumer Products | 9,297 | (7,187) | Shifted from loss to profit, becoming a core growth driver | | Money Lending Business | (3,332) | (2,408) | Loss widened, revenue decreased | | Trading of Resources and Commodities | (5,405) | (6,854) | Business suspended, loss mainly from impairment | | Securities Investment | (1,019) | (59) | Market volatility led to increased loss | [Brands, Fashion Apparel and Other Consumer Products](index=15&type=section&id=%E5%93%81%E7%89%8C%E3%80%81%E6%99%82%E5%B0%9A%E6%9C%8D%E9%A3%BE%E5%95%86%E5%93%81%E5%8F%8A%E5%85%B6%E4%BB%96%E6%B6%88%E8%B2%BB%E5%93%81) As the Group's core growth engine, consumer products business turnover increased by **12.5%** year-on-year to **HK$34.20 million**, with the Group optimistic about its prospects and planning continuous expansion through technology integration, own-brand development, and co-branding to enhance product value and profit margins - Turnover from consumer products and fashion apparel business reached **HK$34.20 million**, a **12.5%** year-on-year increase (2024: HK$30.40 million)[49](index=49&type=chunk) - The Group plans to enhance brand image and product profit margins by incorporating technological features into products, developing own brands, and collaborating with popular brands on co-designs[49](index=49&type=chunk)[52](index=52&type=chunk) [Money Lending Business](index=16&type=section&id=%E6%94%BE%E5%82%B5%E6%A5%AD%E5%8B%99) The money lending business recorded **HK$1.20 million** in interest income this year, a decrease from last year, with the Group believing market demand persists but growth is constrained by capital availability, and strict credit risk assessment and monitoring processes are in place - The money lending business recorded turnover (interest income) of **HK$1.20 million**, lower than **HK$1.90 million** last year[53](index=53&type=chunk) - As of March 31, 2025, all loans receivable were unsecured, with annual interest rates ranging from **6%** to **12%**, and the top five loans receivable accounted for **84.3%** of the total[55](index=55&type=chunk) - The Group manages credit risk through pre-lending independent credit risk assessments and post-lending monitoring procedures, including quarterly reports, overdue follow-ups, and legal actions[57](index=57&type=chunk)[58](index=58&type=chunk) [Securities Investment](index=17&type=section&id=%E8%AD%89%E5%88%B8%E6%8A%95%E8%B3%87) Affected by market volatility, the securities investment segment recorded a net loss of **HK$1.00 million**, while the fair value of the investment portfolio significantly increased to **HK$11.30 million**, mainly due to some loans receivable being settled with securities assets, and the Group employs a diversified investment portfolio strategy to mitigate risk - A net loss of **HK$1.00 million** from securities investment was recorded this year (2024: net loss of HK$0.06 million)[59](index=59&type=chunk) Details of Significant Investments (As of March 31, 2025) | Investment Target | Fair Value (HK$ thousand) | Percentage of Financial Assets | Percentage of Total Assets | | :--- | :--- | :--- | :--- | | New Concepts Holdings Limited | 3,914 | 34.6% | 7.1% | | China Investment and Finance Group Limited | 3,570 | 31.5% | 6.5% | | Other Securities | 3,836 | 33.9% | 7.0% | | **Total** | **11,320** | **100.0%** | **20.6%** | [Natural Resources and Commodities Trading](index=15&type=section&id=%E5%A4%A9%E7%84%B6%E8%B3%87%E6%BA%90%E5%8F%8A%E5%95%86%E5%93%81%E8%B2%BF%E6%98%93%E6%A5%AD%E5%8B%99) Due to an unfavorable macroeconomic environment, the natural resources trading business had no actual operations in both the current and previous fiscal years, with the Group having reallocated resources to the more promising consumer products business segment - The Group did not engage in natural resources trading business in both FY2024 and FY2025 due to an unfavorable macroeconomic environment caused by potential global issues and war crises[48](index=48&type=chunk) [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Financial%20Resources) The Group's liquidity tightened, with the current ratio decreasing from **1.4** to **1.2**, primarily due to increased accounts payable and reclassification of bonds payable, while the gearing ratio rose from **36.7%** to **46.5%** Key Ratio Changes | Metric | As of March 31, 2025 | As of March 31, 2024 | | :--- | :--- | :--- | | Gearing Ratio | 46.5% | 36.7% | | Current Ratio | 1.2 | 1.4 | [Outlook](index=20&type=section&id=Outlook) Looking ahead, the Group will continue to focus resources on developing its consumer products and fashion trend merchandise business, while leveraging its business network to identify other investment opportunities to diversify its business portfolio and maximize shareholder returns - The Group will continue to focus on the sales of consumer products and fashion trend merchandise, developing existing businesses through organic growth or acquisitions[70](index=70&type=chunk) - The Board will leverage business connections to identify other investment opportunities to enrich existing businesses and enhance shareholder returns[70](index=70&type=chunk) [Other Important Matters](index=11&type=section&id=Other%20Information) [Dividend Policy](index=11&type=section&id=Dividend) The Board did not recommend the payment of any dividend for the year ended March 31, 2025 - No dividends were paid or proposed by the company for the fiscal year 2025 (2024: nil)[33](index=33&type=chunk)[79](index=79&type=chunk) [Employees and Remuneration](index=20&type=section&id=Employees%20and%20Remuneration%20Policy) As of March 31, 2025, the Group's employee count decreased to **23** from **38** last year, with total annual staff costs approximately **HK$1.20 million**, a year-on-year decrease, and remuneration policy determined by market levels and individual performance Employee Data | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Number of Employees (including Directors) | 23 | 38 | | Total Staff Costs (approx.) | HK$1.20 million | HK$2.10 million | [Corporate Governance](index=21&type=section&id=Compliance%20with%20the%20Corporate%20Governance%20Code) During the reporting period, the company complied with all applicable provisions of the Corporate Governance Code, with one deviation: the notice period for certain regular board meetings was less than the fourteen days recommended by the Code to facilitate timely decision-making - The company deviated from Corporate Governance Code Provision C.5.3, where the notice period for some regular board meetings was less than fourteen days to allow for timely responses to investment opportunities and internal matters[75](index=75&type=chunk)

Group 1 - The Hang Seng Index rose by 1.74% to close at 22,504.68 points on May 2 [1] - Fuyou Holdings (08269.HK) closed at HKD 0.058 per share, up 81.25%, with a trading volume of 1.3183 million shares and a turnover of HKD 70,200, showing a volatility of 103.13% [1] - Over the past month, Fuyou Holdings has seen a cumulative decline of 28.89%, and a year-to-date decline of 60%, underperforming the Hang Seng Index's increase of 10.27% [1] Group 2 - As of September 30, 2024, Fuyou Holdings reported total revenue of HKD 14.5639 million, a year-on-year increase of 13.23%, and a net profit attributable to shareholders of -HKD 895,500, a year-on-year increase of 73.09% [1] - The company's gross margin stands at 13.64%, with a debt-to-asset ratio of 84.98% [1] - Currently, there are no institutional investment ratings for Fuyou Holdings [2] Group 3 - The textile and apparel industry has an average price-to-earnings (P/E) ratio (TTM) of -5.95 times, with a median of -0.42 times [2] - Fuyou Holdings has a P/E ratio of -1.02 times, ranking 113th in the industry [2] - Other companies in the industry include FAST RETAIL-DRS (06288.HK) with a P/E of 0.36 times, Zhejiang Yong'an (08211.HK) at 1.34 times, and others with higher P/E ratios [2] Group 4 - Fuyou Holdings is primarily engaged in the design, manufacturing, and sales of fashion apparel through four business segments: consumer goods trading, natural resources and commodities, lending, and securities investment [2]