Financial Performance - For the year ending December 31, 2025, customer contract revenue decreased by 12.8% to RMB 320,272,000 from RMB 367,385,000 in 2024[4] - Gross profit for the same period was RMB 166,272,000, a slight decline of 1.8% compared to RMB 169,368,000 in 2024[4] - Profit before tax surged by 140.8% to RMB 313,004,000, up from RMB 130,003,000 in the previous year[4] - Net profit increased significantly by 191.8% to RMB 284,629,000, compared to RMB 97,539,000 in 2024[4] - The gross profit margin improved to 51.9%, up 12.6 percentage points from 46.1% in 2024[4] - The net profit margin rose to 88.9%, a substantial increase of 235.5% from 26.5% in the prior year[4] - Basic and diluted earnings per share increased to RMB 0.280, representing a growth of 191.7% from RMB 0.096 in 2024[4] - Total revenue for the year 2025 was RMB 367,385,000, a decrease from RMB 372,870,000 in 2024, representing a decline of approximately 1.3%[23] - The company reported a net profit of RMB 97,539,000 for 2025, compared to RMB 120,817,000 in 2024, indicating a decrease of about 19.2%[23] - Profit attributable to the company's owners increased to approximately RMB 284.6 million, a year-on-year increase of about RMB 187.1 million or 191.8%[44] - Annual net profit for the year ended December 31, 2025, was RMB 284.6 million, with a net profit margin of 88.9%[84] Revenue Breakdown - Total segment revenue reached RMB 325.427 million, with retail services contributing RMB 125.666 million, accounting for approximately 38.6% of total revenue[22] - Revenue from property management services increased significantly to RMB 96,754,000 in 2025, up from RMB 62,934,000 in 2024, marking a growth of approximately 53.8%[26] - Revenue from retail services decreased by approximately RMB 14.5 million or about 10.4% to RMB 125.0 million, primarily due to intensified competition in the retail market[73] - Revenue from external training services decreased by approximately RMB 8.1 million or about 22.2% to RMB 28.4 million, mainly due to reduced demand for various interest classes[74] - Revenue from information technology services decreased by approximately RMB 0.3 million or about 1.5% to RMB 17.9 million, with engineering services increasing by approximately RMB 0.1 million or about 1.1%[76] - Revenue from supporting lifestyle services decreased by approximately RMB 52.0 million or about 60.1% to RMB 34.5 million, with restaurant services declining by approximately RMB 48.7 million or about 75.4%[77] Assets and Liabilities - Total assets increased to RMB 616,039,000, up from RMB 489,183,000 in 2024, reflecting a strong financial position[6] - Net assets rose to RMB 590,620,000, compared to RMB 453,110,000 in the previous year, indicating robust growth in equity[7] - The total assets of the company rose to RMB 718,021,000 in 2025, compared to RMB 605,520,000 in 2024, reflecting an increase of about 18.6%[24] - The company’s total liabilities decreased to RMB 127,401,000 in 2025 from RMB 152,410,000 in 2024, a reduction of approximately 16.4%[24] - Cash and cash equivalents decreased to RMB 204,772,000 in 2025 from RMB 282,912,000 in 2024, a decline of about 27.6%[24] Dividends - The proposed final dividend per share is HKD 0.095, an increase of 111.1% from HKD 0.045 in the previous year[4] - The company plans to distribute a final dividend of HKD 0.045 per share for the year ending December 31, 2024, amounting to approximately HKD 45.709 million[42] - The board proposed a final dividend of HKD 0.095 per share for the year ended December 31, 2025, totaling approximately HKD 96.5 million, subject to shareholder approval on June 26, 2026[113] Financial Standards and Compliance - The group has begun evaluating the impact of new and revised Hong Kong Financial Reporting Standards, with no significant effect anticipated on financial performance[15] - The group has not early adopted any new or revised accounting standards that will take effect after January 1, 2025[13] - The group’s financial statements will be affected by the new Hong Kong Financial Reporting Standard No. 18, which will be effective from January 1, 2027[17] - The group’s evaluation of the new standards is ongoing, with no major impacts expected on the financial position upon implementation[15] - The group's auditor, Deloitte, confirmed that the financial figures for the year ending December 31, 2025, are consistent with the audited consolidated financial statements[125] Strategic Plans and Market Outlook - The group plans to expand its property management services by increasing the total contracted gross floor area and number of properties managed, which is expected to drive revenue growth[60] - The group aims to acquire suitable property management companies to enhance operational standardization and intensification[60] - The group will continue to develop online marketing and distribution channels through websites and mobile applications to promote various services[60] - The overall outlook for 2026 indicates that the company will face different operational environments and challenges, with a focus on operational optimization and resource integration[69] - The company aims to create long-term value for shareholders by seeking growth opportunities amid a challenging global economic environment[69] Employee and Operational Metrics - The group employed 770 employees as of December 31, 2025, an increase from 618 employees as of December 31, 2024[104] - The group managed a total contracted gross floor area of approximately 10,189,000 square meters as of December 31, 2025, up from 9,875,000 square meters in 2024[50] Governance and Compliance - The board confirmed compliance with the corporate governance code, with the exception of the separation of the roles of chairman and CEO[122] - The company has adopted the standard code for securities trading by directors, confirming compliance by all directors for the year ended December 31, 2025[123] - The company has established an Audit Committee to ensure the integrity, accuracy, and fairness of financial information as of December 31, 2025[124]

Financial Performance - Total revenue for the year ended December 31, 2025, was approximately RMB 595.2 million, a decrease of about 8.3% year-on-year[4] - Gross profit for the same period was approximately RMB 68.7 million, representing a year-on-year decline of approximately 38.5%[4] - Loss attributable to owners of the company was approximately RMB 602.8 million, compared to a loss of RMB 737.3 million in the previous period[4] - Basic and diluted loss per share was RMB 6.98, compared to RMB 9.03 in the previous year[5] - The group reported a pre-tax loss of RMB 627,837,000 for 2025, an improvement from a loss of RMB 779,606,000 in 2024, reflecting a reduction of approximately 19.4%[32] - The basic and diluted loss per share for 2025 was RMB 6.98, compared to RMB 9.03 in 2024, indicating a decrease in loss per share of approximately 22.8%[34] - The company reported a loss attributable to owners of approximately RMB 602.8 million in 2025, an improvement from a loss of RMB 737.3 million in 2024[69] Cash Flow and Assets - Net cash outflow from operating activities was approximately RMB 165.8 million, a decrease of about 57.8% compared to RMB 393.2 million in the prior period[4] - Current assets decreased to RMB 2,837.8 million from RMB 3,560.6 million in the previous year[8] - Non-current assets increased to RMB 1,433.9 million from RMB 1,131.6 million in the previous year[7] - Net assets decreased to RMB 1,702.8 million from RMB 1,939.1 million in the previous year[8] - Cash and cash equivalents decreased to approximately RMB 498.0 million as of December 31, 2025, down approximately 43.6% from RMB 883.4 million in the previous period[73] Revenue Breakdown - Total customer contract revenue for 2025 was RMB 595,186 thousand, a decrease of 8.3% from RMB 648,775 thousand in 2024[22] - Revenue from hydrogen fuel cell systems was RMB 304,466 thousand in 2025, down from RMB 330,521 thousand in 2024, representing a decline of 7.9%[23] - Revenue from hydrogen fuel cell engineering development services dropped significantly to RMB 16,330 thousand in 2025 from RMB 63,217 thousand in 2024, a decrease of 74.1%[23] - Revenue from hydrogen equipment and related components increased significantly to RMB 28.2 million in 2025 from RMB 1.9 million in 2024, driven by active business expansion in hydrogen production[59] Government Support and Grants - The company generated RMB 37,393 thousand in government grants and subsidies in 2025, an increase of 20.5% from RMB 31,088 thousand in 2024[24] - The group has received government subsidies totaling RMB 56.056 million for 2024 and RMB 239.316 million for 2025, with additional amounts still being collected[76] Research and Development - Research and development costs remained stable at RMB 33,466,000 in 2025, slightly up from RMB 33,429,000 in 2024[5] - Research and development expenses decreased to approximately RMB 127.8 million in 2025 from RMB 219.4 million in 2024, reflecting a focus on streamlining product lines[65] - The company is focused on research and development (R&D) to enhance its product offerings[117] Market Position and Strategy - The company maintained a leading position in the fuel cell business, with hydrogen heavy truck installation volume and market share remaining among the top in the industry[49] - The hydrogen energy industry is positioned strategically within national energy management, with significant policy support and market expansion opportunities identified in 2025[49] - International cooperation and global expansion efforts are steadily increasing, contributing to the company's growth strategy[49] - The company aims to enhance the localization rate of key materials, improving the performance and power density of the next generation of fuel cell products by 13%[50] - The company plans to accelerate the commercial application of green hydrogen in industrial scenarios, focusing on decarbonization needs in sectors such as ammonia, methanol, and power generation[56] Corporate Governance and Shareholder Matters - The company did not declare any dividends for the year ended December 31, 2025[4] - The company has not adopted a dividend policy as it plans to retain all future profits for business development and growth[89] - The annual general meeting is scheduled for May 18, 2026, with H-share transfer registration suspended from May 13 to May 18, 2026[87] - The company has received shareholder approval for various governance amendments and related party transactions at the 2024 annual general meeting[99] Financial Management and Investments - Total financial expenses increased to RMB 59,920,000 in 2025 from RMB 57,593,000 in 2024, marking a rise of about 4.0%[26] - The group has not made any significant investments or acquisitions during the reporting period[75] - The company completed a subscription agreement in December 2025, raising approximately RMB 272,170,000 from the issuance of new shares[45] Employee and Operational Insights - The group has 400 full-time employees as of December 31, 2025, with a focus on training and skill development[80] - The company has undergone changes in its supervisory board, with new representatives being appointed effective from January 27, 2025[97] Compliance and Audit - The audit committee has reviewed the financial statements for the year ending December 31, 2025, ensuring compliance with relevant accounting standards[93] - Ernst & Young has confirmed that the financial figures in the announcement align with the consolidated financial statements for the year ending December 31, 2025[94]

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。 Ever Reach Group (Holdings) Company Limited 恒 達 集 團（ 控 股 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3616） 截至2025年12月31日止年度全年業績 業績 | | 2025年 | 2024年 | | --- | --- | --- | | | 人民幣千元 | 人民幣千元 | | 年內虧損及全面開支總額 | (231,139) | (263,971) | | 下列各方應佔年內全面（開支）╱收益總額： | | | | 本公司擁有人 | (221,408) | (270,424) | | 非控股權益 | (9,731) | 6,453 | | | (231,139) | (263,971) | 茲提述恒達集團（控股）有限公司（「本公司」）日期為2026年3月17日之盈利警告 公告。 本公司董事（「董事」）會（「董事會」）欣然宣佈 ...

比亞迪股份有限公司 BYD COMPANY LIMITED （在中華人民共和國註冊成立的股份有限公司） 股份代號：01211（港幣櫃台）及81211（人民幣櫃台） 網站： http://www.bydglobal.com 二零二五年年度業績公佈 本公司董事會（「董事會」）欣然公佈本公司及其附屬公司截至二零二五年十二月 三十一日止十二個月期間的經審核業績。本公佈載有本公司二零二五年年度報 告全文，乃按香港聯合交易所有限公司證券上市規則中有關初步年度業績公佈 的相關規定而編製。本公司審核委員會已審閱本公司及其附屬公司截至二零二五 年十二月三十一日止十二個月的經審核年度業績。本公司二零二五年年度報告可 於香港聯合交易所披露易網站 https://www.hkexnews.hk 及本公司網站 http://www. bydglobal.com 閱覽，如本公司股東欲收取印刷版本，可依照本公司於二零二四年 七月二十九日在上述網站發佈之通知信函內指引及填妥回條獲取。 承董事會命 比亞迪股份有限公司 主席 王傳福 中國•深圳，二零二六年三月二十七日 於本公告刊發日期，本公司董事會包括執行董事王傳福先生，非執行董事呂向陽 先生 ...

Financial Performance - The company's revenue for the year ended December 31, 2025, decreased by approximately HKD 61.7 million or about 13.2% to approximately HKD 406.7 million compared to the previous year[2]. - Gross profit for the year ended December 31, 2025, was HKD 7.7 million, representing a decline of 55.4% from HKD 17.3 million in the previous year[2]. - The company recorded a loss before tax of approximately HKD 22.4 million for the year ended December 31, 2025, compared to a profit of HKD 9.9 million for the year ended December 31, 2024[2]. - The company's net loss attributable to owners for the year ended December 31, 2025, was HKD 22.4 million, compared to a profit of HKD 9.9 million in the previous year[5]. - The company reported a basic loss per share of HKD 1.7 for the year ended December 31, 2025, compared to earnings of HKD 0.7 per share in the previous year[4]. - The group reported a net loss of approximately HKD 22,411,000 for the year ending December 31, 2025, with current liabilities and net liabilities of approximately HKD 27,170,000 and HKD 22,948,000 respectively[18]. - The company reported a pre-tax loss of HKD 22,406,000 for the year ending December 31, 2025, compared to a profit of HKD 9,868,000 in 2024, indicating a significant decline in performance[33]. - The group reported a revenue decrease of approximately HKD 61.7 million or 13.2%, totaling around HKD 406.7 million for the year, compared to HKD 468.4 million in the previous year[44]. - The group recorded a gross profit of approximately HKD 7.7 million, down from HKD 17.3 million in the previous year[44]. - Other income decreased by approximately 57.9% to about HKD 1.6 million, down from HKD 3.8 million in the previous year[45]. Assets and Liabilities - Non-current assets decreased from HKD 5.0 million in 2024 to HKD 2.7 million in 2025[6]. - Current assets decreased from HKD 234.3 million in 2024 to HKD 166.7 million in 2025[6]. - Current liabilities increased from HKD 261.5 million in 2024 to HKD 161.8 million in 2025[6]. - The company's total assets less current liabilities showed a decline from HKD 7.6 million in 2024 to a negative HKD 22.1 million in 2025[6]. - As of December 31, 2025, the group's cash and cash equivalents decreased by approximately HKD 21.5 million to about HKD 11.1 million, resulting in a net cash position of approximately negative HKD 0.8 million[56]. - The current ratio as of December 31, 2025, was 0.90, down from 1.03 in the previous year, indicating a decline in liquidity[58]. - Trade receivables increased significantly to HKD 114,929,000 in 2025 from HKD 22,615,000 in 2024, representing a growth of approximately 408.5%[36]. - The company reported overdue trade receivables of HKD 30,837,000 as of December 31, 2025, compared to HKD 17,854,000 in 2024, indicating an increase of about 72.7%[37]. - Trade payables rose to HKD 108,987,000 in 2025 from HKD 49,362,000 in 2024, marking an increase of approximately 120.5%[38]. - The aging analysis of trade payables showed an increase in amounts due within 1 to 30 days to HKD 75.4 million from HKD 42.4 million in the previous year[40]. Dividends and Shareholder Information - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2025[2]. - The company did not declare or propose any dividends for the year ending December 31, 2025, consistent with the previous year[31]. - The annual general meeting is scheduled for May 29, 2026, with a share transfer registration suspension from May 26 to May 29, 2026[73]. - The independent auditor's report for the consolidated financial statements for the year ended December 31, 2025, has been prepared but does not include any adjustments related to the uncertainties affecting the company's ability to continue as a going concern[81]. - The company's annual report for the year ended December 31, 2025, will be sent to shareholders and published on its website[79]. Capital Structure and Financing - The group is actively reviewing its capital structure and implementing cost control measures to ensure sustainable operational cash flow[20]. - The group successfully placed 266,400,000 new shares at a price of HKD 0.153 per share on February 11, 2026, raising approximately HKD 40,800,000, with net proceeds of about HKD 39,900,000 after deducting commissions and related expenses[20]. - The total proceeds from the placement amounted to approximately HKD 40.8 million, with a net amount of approximately HKD 39.9 million after deducting placement commissions and related expenses, equating to a net price of approximately HKD 0.150 per share[78]. - The company has extended the deadline for the placement agreement from January 28, 2026, to February 11, 2026, to facilitate the completion of the placement[77]. - The placement agreement was finalized on February 11, 2026, with all conditions met[77]. - The company plans to use the proceeds from the placement for further details as disclosed in previous announcements dated January 12, January 13, January 23, and February 11, 2026[78]. Impairment and Financial Health - The group recognized impairment losses of HKD 13,328,000 in 2025, compared to a reversal of HKD 2,262,000 in 2024, indicating a significant shift in financial health[28]. - The group confirmed an impairment loss of approximately HKD 13.3 million under the expected credit loss model, compared to a reversal of HKD 2.3 million in the previous year[47]. - The group recognized impairment losses of approximately HKD 10.7 million on trade receivables and HKD 2.6 million on contract assets, compared to a reversal of impairment of HKD 3.0 million and a loss of HKD 0.6 million in the previous year[51]. - The group has assessed various plans to improve its liquidity situation, ensuring sufficient operational funds to meet financial obligations for at least the next twelve months[19]. - As of December 31, 2025, the group's pledged bank deposits and cash equivalents were approximately HKD 7,165,000 and HKD 3,923,000 respectively, indicating significant uncertainty regarding the group's ability to continue as a going concern[18]. Operational and Strategic Initiatives - The group aims to explore business and investment opportunities in various sectors and regions to enhance long-term growth potential[43]. - The group plans to continue consolidating its business in the construction industry while seeking investment opportunities to enhance long-term growth potential[62]. - The group plans to utilize its expertise in real estate development and financial services to expand revenue sources[43]. - The group received government grants of approximately HKD 60,000 related to a training program for graduates in the construction industry[29]. - The group has no significant foreign exchange risk as most transactions are denominated in HKD[61]. Employee and Administrative Costs - Total employee costs decreased to HKD 15,275,000 in 2025 from HKD 20,722,000 in 2024, reflecting a reduction of approximately 26.5%[30]. - The group employed a total of 57 employees as of December 31, 2025, down from 75 employees in 2024, with employee costs approximately HKD 15.3 million, a decrease from HKD 20.7 million in 2024[66]. - Administrative expenses increased by approximately HKD 3.3 million or 23.1% to about HKD 17.6 million, primarily due to legal and professional fees related to arbitration[52]. - Financing costs rose by approximately 60.0% to about HKD 0.8 million, attributed to increased interest on bank borrowings[53]. Financial Reporting Standards - The consolidated financial statements are presented in Hong Kong dollars (HKD) to meet the needs of shareholders and investors[9]. - The group has applied the new Hong Kong Financial Reporting Standards (HKFRS) for the first time, which became mandatory this year, but it will not have a significant impact on the financial position and performance for the current and prior years[10]. - The group has not early adopted the newly issued HKFRS that are not yet effective, including HKFRS 9 and HKFRS 7, which relate to financial instruments and contracts relying on natural energy[11]. - The directors expect that the application of other new HKFRS will not have any significant impact on the consolidated financial statements in the foreseeable future, except for HKFRS 18, which is expected to affect the structure and presentation of the consolidated income statement[12]. - The consolidated financial statements are prepared on a historical cost basis, except for certain financial instruments measured at fair value at the end of each reporting period[13]. - Fair value measurements consider the characteristics of the asset or liability being valued, and the group uses observable inputs to determine fair value[15]. - The consolidated financial statements are prepared on a going concern basis, assuming the group will continue its normal business activities and meet its financial obligations within the next twelve months[17]. - Management continues to closely monitor the group's liquidity position, including conducting sensitivity analyses on various factors to ensure sufficient liquidity[17].

Financial Performance - The total revenue for the year ended December 31, 2025, was HKD 47,236,000, a decrease of 18.7% compared to HKD 58,109,000 in 2024[3] - Gross profit for the same period was HKD 6,408,000, down 44.5% from HKD 11,557,000 in 2024[3] - The company reported a loss before tax of HKD 89,167,000, compared to a loss of HKD 13,081,000 in 2024, reflecting a substantial increase in losses[3] - The total comprehensive loss for the year was HKD 90,305,000, compared to HKD 13,049,000 in 2024, indicating a significant deterioration in financial performance[4] - The basic and diluted loss per share for the year was HKD 13.6, compared to HKD 2.38 in 2024, highlighting a worsening loss per share situation[4] - The group reported a total revenue of HKD 47,236,000 for 2025, down from HKD 58,109,000 in 2024, indicating a decrease of about 18.7%[19] - The group experienced a pre-tax loss of HKD 89,167,000 for the year ending December 31, 2025, compared to a pre-tax loss of HKD 13,081,000 for the previous year[19] - The group reported an operating loss of approximately HKD 89,200,000, an increase of HKD 76,100,000 or 580.9% compared to a loss of HKD 13,100,000 in the previous year[91] Expenses - Administrative expenses surged to HKD 67,292,000, an increase of 196.5% from HKD 22,618,000 in the previous year[3] - Research and development expenses rose significantly to HKD 30,663,000, compared to HKD 8,602,000 in 2024, marking an increase of 256.5%[3] - R&D expenses for the year included HKD 30,663,000, which comprised various costs such as employee costs and cloud service fees[21] - Administrative and R&D expenses related to stock options granted on April 8, 2025, increased by approximately HKD 44 million[93] - R&D expenses (excluding stock-based payment expenses) increased by approximately HKD 5.5 million, primarily due to Web3.0 business development projects[93] - Marketing expenses increased by approximately HKD 7.4 million, mainly for promoting the group, analysis platform, and trading services[93] Assets and Liabilities - The company's total assets less current liabilities increased to HKD 180,775,000 from HKD 40,585,000 in 2024, showing growth in asset management[5] - Cash and cash equivalents rose dramatically to HKD 81,427,000 from HKD 2,091,000 in the previous year, indicating improved liquidity[5] - The company's equity increased to HKD 177,399,000 from HKD 36,829,000 in 2024, reflecting a strong capital position[6] - Trade receivables from customer contracts decreased to HKD 6,725,000 in 2025 from HKD 10,298,000 in 2024, indicating a reduction in outstanding receivables[34] - The company recorded a net credit loss reversal of HKD 2,442,000 for receivables in 2025, compared to a reversal of HKD 6,212,000 in 2024[33] - The overdue trade receivables balance included HKD 662,000 that was overdue for 90 days or more, compared to HKD 2,147,000 in 2024, indicating a significant improvement in collection[36] - Prepayments, deposits, and other receivables increased to HKD 53,897,000 in 2025 from HKD 10,247,000 in 2024, representing a growth of 426.5%[37] - Total liabilities, including accrued expenses and other payables, increased slightly to HKD 14,345,000 in 2025 from HKD 13,100,000 in 2024[41] Revenue Streams - Revenue from customer contracts for big data center services decreased to HKD 45,178,000 in 2025 from HKD 56,009,000 in 2024, representing a decline of approximately 19.8%[15] - The company reported revenue of approximately HKD 45.2 million from data center services, a decrease of about HKD 10.8 million compared to the previous year due to reduced contributions from the Hong Kong data center[58] - The analysis platform generated revenue of approximately HKD 88,000 this year[62] - The exchange and OTC services generated revenue of approximately HKD 300,000 this year[65] - The lending business generated revenue of approximately HKD 1,700,000 this year[67] - The data center services segment contributed approximately HKD 45,200,000, down HKD 10,800,000 from HKD 56,000,000 in the previous year, reflecting a decrease of 19.3%[87] - The lending business generated revenue of approximately HKD 1,700,000, a decrease of HKD 400,000 from HKD 2,100,000 in the previous year, representing a decline of 19%[90] Business Development and Strategy - The newly established Web3.0 business segment includes blockchain applications and infrastructure, with ongoing R&D activities and talent recruitment in this area[16] - The group launched its on-chain data analysis platform "Chainstream" and acquired 100% equity of Rhino, leading to a restructuring of its operational segments[16] - The company is transitioning from mining infrastructure to a Web 3.0 digital infrastructure ecosystem, enhancing its data capabilities and operational efficiency in North America[49] - The integration of Rhino Trading Pty Ltd, a regulated digital asset exchange in Australia, aims to strengthen global compliance and trading capabilities[51] - The company is focused on building an open and collaborative financial ecosystem, connecting traditional finance with digital assets through partnerships[52] - The company is investing in product development and user expansion for ChainStream to adapt to market changes and customer needs[61] - The company plans to invest in Web3.0 and artificial intelligence products to create synergies with existing businesses[105] Capital and Funding - The company completed a placement agreement on February 21, 2025, raising approximately HKD 33.2 million by issuing 109,681,764 shares at HKD 0.305 per share[47] - A second placement on July 14, 2025, raised approximately HKD 54.4 million by issuing 27,372,000 shares at HKD 2.0 per share[48] - A third placement on October 31, 2025, raised approximately HKD 99.2 million by issuing 32,000,000 shares at HKD 3.11 per share[49] - The net proceeds from the second placement of 27,372,000 new shares amounted to approximately HKD 54.4 million, with about 35% allocated for further development of Web3.0-related businesses[94] - The net proceeds from the third placement of 32,000,000 new shares amounted to approximately HKD 99.2 million, with about 50% allocated for ChainStream's technology development and platform expansion[94] - The company has no bank borrowings as of December 31, 2025, and funds its operations through internal resources, placements, and loans[102] Compliance and Governance - The group maintains compliance with Australian regulations regarding anti-money laundering and counter-terrorism financing, ensuring systematic screening of all deposited cryptocurrencies[76] - The company emphasizes good corporate governance to protect shareholder interests and has complied with the GEM Listing Rules[122] - The audit committee has reviewed the financial reporting process and the effectiveness of risk management and internal controls for the year ending December 31, 2025[124] Future Outlook - The group anticipates that the adoption of new accounting standards will not have a significant impact on its financial performance, although it may affect the structure and presentation of the consolidated income statement[14] - The company is exploring investment opportunities and may consider acquisitions or disposals to promote growth[106] - The company is focusing on the development of data centers in the United States while ceasing operations in Hong Kong due to high operational costs[104]

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依 賴該等內容而引致的任何損失承擔任何責任。 中國中煤能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：01898） 截至2025年12月31日止年度業績公告 財務摘要： 中國中煤能源股份有限公司董事會欣然宣佈本集團根據國際財務報告會計準則編 製的本集團截至2025年12月31日止年度的經審核年度業績如下： 1 • 2025年本集團的收入為人民幣1,480.57億元，較2024年減少人民幣413.39 億元（即-21.8%）。 • 2025年本公司股東應佔利潤為人民幣144.97億元，較2024年減少人民幣 36.22億元（即-20.0%）。 • 2025年本公司每股基本盈利為人民幣1.09元，較2024年減少人民幣0.28元。 • 2025年息稅折舊攤銷前盈利為人民幣331.67億元，較2024年減少人民幣 73.94億元（即-18.2%）。 • 董事會建議按照每股人民幣0.217元（含稅）派發2025年年度末期股息，此項 ...

Financial Performance - Revenue increased by 10.4% to approximately RMB 558,223,000 (2024: RMB 505,436,000) [2] - Gross profit rose by 13.1% to approximately RMB 345,302,000 (2024: RMB 305,202,000) [2] - Gross profit margin improved by 1.5 percentage points to 61.9% (2024: 60.4%) [2] - Profit for the year decreased by 0.3% to approximately RMB 171,027,000 (2024: RMB 171,479,000) [2] - Earnings per share decreased by 0.2% to approximately RMB 0.6876 (2024: RMB 0.6890) [2] - Total comprehensive income for the year amounted to RMB 175,814,000, compared to RMB 169,916,000 in 2024 [4] Revenue Breakdown - Online sales revenue reached RMB 228,738,000 in 2025, up from RMB 209,636,000 in 2024, indicating a growth of about 9.8% [16] - Offline sales revenue increased to RMB 323,983,000 in 2025 from RMB 290,161,000 in 2024, reflecting a growth of approximately 11.7% [16] Expenses and Costs - The company’s total cost of sales increased to RMB 210,981,000 in 2025 from RMB 197,383,000 in 2024, reflecting an increase of about 6.9% [19] - Employee benefits expenses, including director remuneration, rose to RMB 119,856,000 in 2025 from RMB 107,047,000 in 2024, an increase of about 12% [19] - Income tax expense for 2025 is RMB 45,459,000, an increase from RMB 41,455,000 in 2024, representing a growth of approximately 9.7% [23] Assets and Liabilities - Non-current assets totaled RMB 596,060,000, an increase from RMB 471,312,000 in 2024 [5] - Current liabilities increased to RMB 115,030,000 from RMB 98,061,000 in 2024 [5] - Net assets increased to RMB 970,204,000 from RMB 883,959,000 in 2024 [6] Dividends - Proposed final dividend of HKD 0.3831 per share, up from HKD 0.3663 per share in 2024, subject to shareholder approval [2] - The company plans to declare a final dividend of HKD 0.3831 per share, equivalent to RMB 0.3444, totaling RMB 85,657,000 for the year 2025 [25] Market Expansion and Strategy - The company plans to open a flagship store in Beijing by April 2026, enhancing brand image and market presence [42] - The company has expanded its overseas market presence with new stores in Singapore, Malaysia, and Hong Kong, improving sales performance and brand image [43] - The company aims to achieve overall profitability in the Hong Kong market by 2026, with plans to expand its direct-operated stores [78] Product Development and Innovation - The company completed the design and development of 17 new product projects, launching a total of 89 new products, with 15 out of 20 trial products transitioning to regular products [79] - New product development focuses on structural innovation, cultural heritage applications, and material integration, enhancing product competitiveness and brand influence [79] - The company has launched 4 new high-end products using innovative materials like Hetian jade and sandalwood, addressing market demand for refined aesthetics [82] Marketing and Brand Engagement - The company implemented a comprehensive offline advertising strategy, enhancing brand exposure and market recognition [50] - The "梳情花園" brand pop-up events successfully increased brand awareness and emotional connection in six cities [51] - The company executed 15 marketing activities, resulting in a daily average sales increase of 31.3% during the activity period [64] Corporate Governance - The board is committed to high standards of corporate governance and has adopted measures to enhance internal control systems [148] - The company has complied with all applicable provisions of the corporate governance code during the review year [149] - The audit committee confirmed that the financial reporting procedures and internal controls were effective and complied with current accounting standards and listing rules [153] Employee Engagement and Development - The company received 1,061 improvement suggestions from employees in 2025, with an adoption rate of 30.91% [105] - The company is focused on enhancing employee training programs to improve skills and knowledge, which is essential for long-term growth [138] - The company encourages collaboration and skill-sharing among employees, enhancing the quality of service and packaging [101] Community and Cultural Engagement - The company has engaged in community-building activities, such as the "Handcraft Without Boundaries" salon, to promote design and cultural exchange [97] - The company collected a total of 408 brand stories throughout the year, with 47 being recognized as outstanding stories [98] - The company emphasizes the importance of emotional value in design, moving beyond mere functional value [102]

Economic Performance - For the fiscal year ending December 31, 2025, Metropolis Capital Holdings Limited reported a GDP growth of 5% in China, reaching RMB 140.2 trillion[12]. - The group's revenue for the reporting period was approximately RMB 30.4 million, a decrease of about 41.7% compared to RMB 52.2 million for the same period last year[13]. - The company recorded a pre-tax loss of approximately RMB 21.6 million, an increase of about 112.9% compared to the previous year's loss of RMB 10.2 million, primarily due to a revenue decrease of RMB 21.7 million and an increase in other receivables loss provisions[99]. Business Challenges - The company faced challenges due to intense competition in the automotive financing leasing industry, leading to a contraction in business[12]. - The increase in overdue receivables was attributed to the deteriorating financial conditions of clients, prompting the company to take legal action against defaulting clients[12]. - The group has experienced a significant increase in other receivables due to overdue payments from some customers in the automotive financing leasing business[15]. Management Strategies - Management anticipates that the recovery of overdue receivables will improve once ongoing litigation is resolved[12]. - The company is considering expanding into various types of financing leasing, including equipment and art leasing, to diversify its revenue sources[12]. - The management is focused on improving and optimizing corporate governance standards, with at least one internal review conducted annually[12]. Revenue Sources - Revenue primarily came from financing leasing consulting services (RMB 27.2 million, 89.3%), sale-leaseback arrangements (RMB 2.0 million, 6.5%), and factoring arrangements (RMB 1.3 million, 4.2%) during the reporting period[13]. - The company plans to invest resources in other industries to generate additional income and create value for shareholders[12]. - The group plans to continue focusing on the financing needs of small and medium-sized enterprises, despite slowing the expansion of automotive-related financing leasing and consulting services[16]. Risk Management - The group is actively reviewing its credit risk control system and has taken measures such as selling collateral vehicles and suing defaulting customers[13]. - The company has established a strong risk management culture through strict enforcement of policies and employee training[61]. - The credit approval process involves assessing the client's credit risk and ensuring the authenticity and completeness of provided materials[58]. Financial Position - The total amount of receivables and financial guarantees decreased by approximately 52.6% from RMB 397.7 million to RMB 188.6 million[73]. - The company's largest customers accounted for 23.1% of the total receivables and financial guarantees before loss provisions, up from 10.6% in the previous year[64]. - The total amount of leasing receivables (before loss provisions) decreased by approximately 28.2% from RMB 49.8 million to RMB 35.8 million[74]. Corporate Governance - Metropolis Capital Holdings Limited is committed to enhancing corporate governance and compliance, conducting extensive internal reviews to identify operational deficiencies[12]. - The company has a strong governance structure with independent non-executive directors overseeing the board[129]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, providing diverse skills and experience[193]. Environmental and Social Responsibility - The company adheres to environmental protection laws and regulations, actively seeking to identify and manage environmental impacts from its operations[139]. - The company is committed to corporate social responsibility and environmental policies, ensuring compliance with relevant regulations[139]. - The group is committed to the long-term sustainability of its business and operations within the community[142]. Shareholder Information - As of December 31, 2025, the company's distributable reserves, including annual share premium and profit, amount to approximately RMB 150.14 million[147]. - The company's issued share capital remains unchanged at HKD 9,600,000, divided into 960,000,000 shares with a par value of HKD 0.01 each[146]. - The board does not recommend the payment of a final dividend for the year ending December 31, 2025[143].

Financial Performance - The group recorded revenue of approximately HKD 435.2 million for the year ending December 31, 2025, a decrease of 7.5% compared to HKD 470.4 million in 2024[5] - Adjusted EBITDA before tax was approximately HKD 5.1 million, up from HKD 4.9 million in 2024, indicating a slight improvement in operational efficiency[5] - The group reported a net loss of approximately HKD 1.5 million for the year, compared to a net profit of HKD 2.4 million in 2024, reflecting a significant downturn in profitability[5] - The total comprehensive loss for the year was HKD 1.4 million, a significant decline from a comprehensive income of HKD 2.3 million in 2024[7] - The group reported a basic and diluted loss per share of HKD 0.26, compared to a profit of HKD 0.30 per share in the previous year[6] - The group’s operational loss before tax was HKD 1.5 million, a stark contrast to the operational profit of HKD 2.8 million in 2024, highlighting challenges in maintaining profitability[6] Dividend and Shareholder Information - The board of directors did not recommend the payment of a final dividend for the year ending December 31, 2025, consistent with the previous year[5] - The company emphasizes the importance of effective communication with shareholders to enhance understanding of its business and strategies[104] - The company has adopted a shareholder communication policy to ensure timely and accessible information for shareholders and potential investors[105] - The board has reviewed the effectiveness of the shareholder communication policy and considers it to be effective[106] - The annual general meeting notice will be distributed to all shareholders at least 21 days prior to the meeting[105] Assets and Liabilities - Total assets decreased from HKD 305,038 million in 2024 to HKD 249,857 million in 2025, a decline of approximately 18.1%[8] - Non-current assets decreased from HKD 218,121 million in 2024 to HKD 166,976 million in 2025, a reduction of about 23.4%[8] - Current assets decreased from HKD 86,917 million in 2024 to HKD 82,881 million in 2025, a decline of approximately 4.6%[8] - Total liabilities decreased from HKD 234,194 million in 2024 to HKD 184,527 million in 2025, a reduction of about 21.2%[9] - Total equity decreased from HKD 70,844 million in 2024 to HKD 65,330 million in 2025, a decline of approximately 7.1%[9] - Current liabilities decreased from HKD 144,058 million in 2024 to HKD 123,792 million in 2025, a reduction of about 13.9%[9] - Total debt decreased from HKD 184,527 million in 2024 to HKD 123,792 million in 2025, a decline of approximately 32.9%[9] Revenue Segmentation - Total revenue for the restaurant operations segment reached HKD 428,812,000, while the food management and consulting services segment generated HKD 26,182,000, leading to a combined total of HKD 454,994,000[22] - The revenue from restaurant operations for the year 2025 was HKD 420,641,000, a decrease from HKD 462,395,000 in 2024, representing a decline of approximately 9%[28] - Revenue from food and beverage management and consulting services increased to HKD 6,339,000 in 2025 from HKD 3,324,000 in 2024, marking a growth of about 90.7%[28] - There were no single external customers contributing more than 10% to the group's revenue for the fiscal year ending December 31, 2025, consistent with the previous year[24] Cost Management - The group experienced a decrease in cost of goods sold, which was HKD 110.4 million in 2025 compared to HKD 119.7 million in 2024, indicating improved cost management[6] - Employee benefits expenses decreased to HKD 157.9 million from HKD 171.5 million, suggesting a reduction in workforce or salary adjustments[6] - The total employee benefits expenses, including director remuneration, amounted to approximately HKD 157.9 million for the fiscal year ending December 31, 2025, down from HKD 171.5 million in 2024[86] - The group incurred a total employee cost of HKD 137,794,000, which is a significant expense impacting overall profitability[22] Operational Challenges - The group incurred impairment losses on trade receivables amounting to HKD 1.9 million, which was a new expense not recorded in the previous year[6] - The group reported a trade receivables impairment loss of approximately HKD 1.9 million for the fiscal year ending December 31, 2025, with no impairment loss recorded for 2024[58] - The group recorded a loss of approximately HKD 3.2 million in property, plant, and equipment, as well as right-of-use assets impairment for the fiscal year ending December 31, 2025, compared to HKD 2.1 million in 2024[59] Future Outlook and Strategy - The group anticipates continued growth in revenue and profitability driven by strategic initiatives in market expansion and new product offerings[23] - The group aims to enhance business resilience and diversify revenue sources through three core strategic pillars: restaurant operations, food management and consulting services, and retail and online sales of food products[90] - The group is actively developing a range of food products under its existing and proprietary restaurant brands, aiming to expand market reach and enhance market share through retail and online distribution channels[93] - The group plans to accelerate technology integration and efficiency improvements to solidify its position in the local market and seek growth opportunities in mainland China and overseas markets[94] Corporate Governance - The group has adopted corporate governance principles to ensure shareholder rights and enhance corporate value and accountability[95] - The group has maintained compliance with corporate governance rules, holding only two regular board meetings in the fiscal year ending December 31, 2025, instead of the required four[96] - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2025, and believes they are prepared in accordance with applicable accounting standards and GEM listing rules[101] - The consolidated financial statements have been confirmed by the group's auditor, PwC, to be consistent with the amounts in the audited financial statements[102] Miscellaneous - The company operates a total of 12 restaurants, including 5 self-owned brands and 3 franchised brands, as of December 31, 2025[44] - The company has extended the lease for its existing Italian restaurant in Harbour City, Tsim Sha Tsui, from June 15, 2025, to June 14, 2027[45] - The company has also extended the lease for its existing Shanghai-style restaurant in Sha Tin Wai from April 13, 2026, to April 12, 2029[45] - The company entered into a business transfer agreement for the sale of a restaurant business for HKD 5.6 million, but the transaction was not completed due to the buyer's refusal[73] - The company has no significant litigation or arbitration pending as of December 31, 2025[88] - The company made no significant investments during the fiscal year ending December 31, 2025[78] - There are no plans for significant investments or acquisitions as of December 31, 2025, and the company will continue to monitor industry trends[79]