Stock Options - The number of stock options granted under the 2022 stock option plan was 51,463,528 shares as of March 31, 2024[5] - The stock option plan is detailed on pages 31 to 33 of the 2024 annual report[5] Financial Reporting - The announcement serves as supplementary information to the 2024 annual report, which should be read in conjunction with it[5] - The announcement was made on May 27, 2025, regarding the financial year ending March 31, 2024[4] - The company emphasizes that all other information in the 2024 annual report remains unchanged[5] Corporate Governance - The board of directors includes executive directors Lin Guangru, Pan Guozheng, Huang Weiguo, and Zhong Zhitang, along with non-executive and independent non-executive directors[5] - The company reiterates its commitment to shareholder engagement and corporate governance[4] - The company is committed to transparency in its financial disclosures and governance practices[4] Responsibility and Accuracy - The company does not assume any responsibility for the accuracy or completeness of the announcement's content[1] - The announcement is part of the company's ongoing communication with stakeholders regarding its financial performance[4]

Financial Performance - The company's revenue decreased by 27.6% from RMB 645.1 million in 2023 to RMB 467.0 million in 2024[6]. - Gross profit fell by 28.5% from RMB 105.7 million in 2023 to RMB 147.8 million in 2024[6]. - The net loss increased dramatically from RMB 4.5 million in 2023 to RMB 361.1 million in 2024, representing a 7,924.4% change[6]. - Cash and cash equivalents decreased by 34.6% from RMB 70.3 million in 2023 to RMB 46.0 million in 2024[7]. - Total assets declined by 18.3% from RMB 1,725.5 million in 2023 to RMB 1,409.4 million in 2024[7]. - The total cost of sales decreased by approximately 27.3% from RMB 497.3 million in 2023 to RMB 361.3 million in 2024[44]. - The gross profit for the group decreased by 28.5% from RMB 147.8 million in 2023 to RMB 105.7 million in 2024[47]. - The group recorded a total loss of RMB 361.1 million in 2024, a significant increase in loss of 7,924.4% compared to a profit of RMB 4.5 million in 2023[49]. - The administrative and other operating expenses increased by 75.4% from RMB 89.5 million in 2023 to RMB 157.0 million in 2024[57]. - Financing costs decreased by approximately 31.8% to about RMB 24.5 million from RMB 35.9 million in the previous year, primarily due to the conversion of two convertible bonds issued by the company[59]. - Income tax expenses increased by approximately RMB 24.7 million from RMB 19.4 million to RMB 44.7 million, mainly due to the reversal of deferred tax assets related to expected credit losses on trade receivables in the men's clothing division[60]. Revenue Breakdown - Revenue from industrial products decreased by 29.4% to RMB 365.1 million, primarily due to the impact of the Red Sea crisis starting at the end of 2023[41]. - Revenue from men's apparel decreased by 24.0% to RMB 93.1 million, attributed to price reductions and a shift in consumer purchasing habits towards online platforms[41]. - The energy storage battery segment saw a revenue increase of 60.0% to RMB 8.8 million, although the total amount remains modest[42]. - The revenue from the energy storage battery segment increased by 215.4% to RMB 12.3 million in 2024[53]. - The men's apparel segment accounted for 19.9% of total revenue, while the energy storage battery segment represented 1.9%[39]. Market and Industry Trends - The company is optimistic about the growth of automotive parts demand in Saudi Arabia despite challenges in the industrial product sales business[12]. - The demand for automotive and motorcycle industrial products remains strong, supported by Saudi Arabia's Vision 2030 initiative aimed at economic diversification[18]. - The industrial products division experienced a revenue decrease of approximately 29% compared to the previous year due to the Red Sea crisis affecting delivery schedules[16]. - The demand for home improvement products has increased due to strong non-oil income in Saudi Arabia, leading to higher consumer spending on renovations[20]. - Saudi Arabia's GDP is projected to grow by 1.3% in 2024, with non-oil sector activities driving overall growth at 4.3%[19]. - The industrial products division faces increasing competition from Southeast Asian suppliers, putting pressure on pricing and overall profit margins[17][25]. - The automotive market in Saudi Arabia has shown a continuous increase in vehicle sales over the past few years, indicating robust demand for related industrial products[18]. Strategic Initiatives - The company plans to strengthen its energy storage battery segment and has signed contracts with several state-owned enterprises in China[11]. - The company is actively pursuing new marketing strategies and affordable products to maintain market share amid changing consumer preferences[11]. - The company has transitioned from labor-intensive manufacturing to outsourcing production, enhancing flexibility in meeting customer demands[27]. - The company is in the process of selling equity in Jiangsu Hengan, with investors agreeing to contribute a total of RMB 28 million, of which approximately RMB 6.65 million will be used for registered capital, representing about 2.34% of Jiangsu Hengan's expanded equity[70]. - The investment proceeds will be strategically allocated to enhance production capacity and upgrade the Nanjing production facility from semi-automated to fully automated systems[72]. Governance and Compliance - The company has a board of directors consisting of five executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[96]. - The board is responsible for setting the overall goals and strategies of the group, as well as monitoring and evaluating operational and financial performance[99]. - The company has adhered to the corporate governance code and principles as outlined in the listing rules, ensuring compliance with governance standards[95]. - The audit committee consists of three independent non-executive directors, with the chairman possessing appropriate professional qualifications and accounting experience[109]. - The board has established three committees: audit, nomination, and remuneration, each with a clear written terms of reference approved by the board[107]. - The company has engaged an external auditor to ensure compliance with financial reporting standards[132]. Risk Management - The company has established a risk management framework to identify, assess, and manage significant risks, with senior management required to identify adverse risks at least annually[134]. - The board believes the risk management and internal control systems are effective and sufficient based on the annual review results[134]. - A dedicated committee will be formed to review the current financial reporting and internal control systems, aiming to enhance oversight and management of accounting functions[139]. - The company will implement policies requiring subsidiaries to submit monthly financial data, including management accounts and bank reconciliation statements, to improve oversight[141]. Employee and Operational Insights - The total employee cost for the year was approximately RMB 38.8 million, up from RMB 30.9 million in 2023, with a total of 180 employees as of December 31, 2024[82]. - The company emphasizes employee development and offers competitive compensation, recognizing employees as one of its greatest assets[181]. - The company has made appropriate insurance arrangements for its directors and executives against potential legal actions[102]. - The company has strengthened guidelines for proper handover procedures before employee resignations[143]. Shareholder Engagement - The company encourages shareholders to participate in annual general meetings and communicate directly with the board[146]. - The company has a policy in place for shareholders to propose candidates for director positions, requiring a notice period of at least seven days[151]. - The company has a structured process for shareholders to request special meetings, requiring a minimum of 10% of the paid-up capital[148].

Financial Performance - Revenue for the six months ended March 31, 2025, was HKD 3,455,679,000, representing a 427.1% increase compared to HKD 655,608,000 for the same period in 2024[2] - Gross profit decreased to HKD 10,990,000, down 65.8% from HKD 32,141,000, resulting in a gross margin of only 0.3% compared to 4.9% in the previous year[2] - The company reported a loss before tax of HKD 12,300,000, a decline of 112.4% from a profit of HKD 99,266,000 in the prior year[2] - Basic and diluted loss per share was HKD (2.64), a significant drop from earnings of HKD 21.42 per share in the same period last year[5] - The company experienced a net loss of HKD 12,300,000 for the period, compared to a profit of HKD 101,167,000 in the same period last year[6] - The company reported a net loss attributable to shareholders of HKD 12,300,000 for the six months ended March 31, 2025, compared to a profit of HKD 99,813,000 in the same period of 2024[35] - The group reported a loss before tax of approximately HKD 12.3 million for the period 2025, compared to a profit of approximately HKD 99.3 million in 2024, primarily due to a decrease in other business income by approximately HKD 16.7 million, mainly from the suspension of cryptocurrency mining services[72] Cash and Equity - Cash and cash equivalents as of March 31, 2025, were HKD 61,856,000, a slight decrease of 0.7% from HKD 62,282,000 as of September 30, 2024[2] - Total equity decreased to HKD 275,485,000, down 2.3% from HKD 281,909,000 at the end of the previous reporting period[8] - The company’s total non-current assets are located entirely in China, including Hong Kong[26] - As of March 31, 2025, the company reported trade receivables of HKD 1,705,000, a decrease of 61% from HKD 4,384,000 as of September 30, 2024[41] - The company’s trade receivables from related parties amounted to HKD 1,007,000 as of March 31, 2025, down from HKD 2,759,000 as of September 30, 2024[40] - The company’s total assets related to trade and other receivables were HKD 190,958,000 as of March 31, 2025, compared to HKD 240,685,000 as of September 30, 2024[41] - As of March 31, 2025, the group had no outstanding borrowings, maintaining a debt-to-asset ratio of 0%[82] Acquisitions and Investments - The company has entered into agreements to acquire 100% of Avenir Asset Holding Limited for $30,462,086.38 and approximately 7.69% of BitTrade Inc. for $2,769,435.22, totaling approximately $33,231,521.60[10] - Avenir Asset Holding Limited will become a wholly-owned subsidiary, and BitTrade will be an indirect subsidiary, with their financial performance consolidated into the company's financial statements[11] - The acquisition of Avenir Asset Holding Limited and BitTrade is part of the company's strategy to expand its presence in the cryptocurrency trading business[10] - The company is committed to integrating the financial results of the acquired entities into its overall financial performance[11] - The group has completed the acquisition of over 50% of the shares in the compliant exchange BitTrade, which will result in an indirect ownership of 92.31% upon completion of the acquisition[100] Revenue Sources - Cryptocurrency trading business revenue was HKD 3,437,756,000, a substantial increase from HKD 620,989,000 in the previous year[4] - Cryptocurrency trading accounted for HKD 3,437,756,000 of the total revenue, compared to HKD 620,989,000 in the previous year, indicating a growth of around 453%[27] - Revenue from the asset management services was approximately HKD 12.8 million for the 2025 period, a decrease of approximately 25.7% from HKD 17.3 million in the 2024 period[62] - Revenue from the custody services increased to approximately HKD 0.6 million in the 2025 period, up approximately 64.3% from HKD 0.4 million in the 2024 period[64] - The technology solutions business generated revenue of approximately HKD 3.7 million in the 2025 period, compared to approximately HKD 2.9 million in the 2024 period[59] Operational Changes and Strategies - The company continues to focus on expanding its services in the virtual asset ecosystem, including asset management and cryptocurrency trading[9] - The group aims to enhance its one-stop virtual asset service ecosystem, focusing on compliance exchange operations and integrating custody, asset management, and quantitative product services[99] - The group plans to expand its asset management business in Hong Kong, offering a more diversified virtual asset investment fund structure to professional investors[101] - The group has implemented a series of network controls to mitigate digital asset custody risks, including two-factor authentication and daily wallet management[93] - The group is committed to adhering to anti-money laundering regulations, with ongoing monitoring and reporting procedures in place to reduce compliance risks[95] - The group is developing a comprehensive upgrade of its one-stop virtual asset service platform to optimize user experience and facilitate seamless asset management[99] - The group has introduced various quantitative trading strategies, including Delta neutral strategies and high-frequency trading strategies, to provide clients with stable returns and risk-neutral services[101] Governance and Compliance - The company has adopted new and revised Hong Kong Financial Reporting Standards that do not have a significant impact on its financial performance and position[16] - The new Hong Kong Financial Reporting Standard No. 18 will affect the presentation of the consolidated income statement and future disclosures in the consolidated financial statements[20] - The group has adopted all applicable corporate governance code provisions as of March 31, 2025[103] - The board of directors includes non-executive director Mr. Li Lin (Chairman), executive directors Mr. Du Jun (CEO) and Ms. Zhang Li, and independent non-executive directors Mr. Yu Junjie, Mr. Ye Weiming, and Dr. Lin Jiali[107] Market Risks - The group is facing unique risks related to the rapid development of the digital asset market, including regulatory changes and market volatility, and is implementing operational infrastructure to support business growth[92] Other Financial Information - The company did not recommend the payment of an interim dividend for the six months ended March 31, 2025[33] - The company’s financing costs for the six months ended March 31, 2025, were HKD 122,000, down from HKD 4,679,000 in the previous year[28] - The company incurred a loss of HKD 4,326,000 from foreign exchange differences during the reporting period[27] - The company recognized a loss provision of HKD 10,250,000 during the six months ended March 31, 2025, compared to no loss provision in the same period last year[40] - The company completed a claim submission for FTX deposits amounting to approximately USD 18,089,000 (equivalent to about HKD 141,748,000) which has been accepted by the liquidator[37] - The company entered into a sale agreement for the claim amount at a price of approximately USD 19,500,000 (equivalent to about HKD 152,125,000) on May 24, 2024[38] - The company increased its authorized share capital from 500,000,000 shares to 700,000,000 shares with a par value of HKD 0.001 per share[42] - The company issued 157,000,000 new ordinary shares at a subscription price of HKD 2.08 per share, raising approximately HKD 324,605,000 after expenses[43] - The group recorded total revenue of approximately HKD 3,455.7 million for the six months ended March 31, 2025, an increase of approximately 427.1% or HKD 2,800.1 million compared to HKD 655.6 million for the six months ended March 31, 2024[58] - The group reported a gross profit of approximately HKD 11.0 million for the 2025 period, down from approximately HKD 32.1 million in the 2024 period[58] - Other income and gains for the 2025 period amounted to approximately HKD 6.0 million, an increase of approximately HKD 7.0 million from a net loss of approximately HKD 0.9 million in the 2024 period[69] - Administrative expenses for the 2025 period were approximately HKD 39.3 million, a significant decrease of approximately 27.4% from approximately HKD 54.1 million in the 2024 period[70] - The net cash used in operating activities for the period 2025 was approximately HKD 46.2 million, a decrease from approximately HKD 52.3 million in 2024, attributed to reduced cash used in administrative expenses and the acquisition of cryptocurrency for operational purposes[76] - The net cash from investing activities for the period 2025 was approximately HKD 41.8 million, significantly up from approximately HKD 0.7 million in 2024[77] - The net cash used in financing activities for the period 2025 was approximately HKD 0.4 million, a substantial decrease from approximately HKD 223.0 million in 2024, mainly due to lease liability repayments[79] - Major customers accounted for 37.9% of total revenue, while the top five customers represented 90.2% of total revenue for the period 2025[86] - The group has no significant contingent liabilities as of March 31, 2025, apart from those disclosed in the previous annual report[85] - The group had cash and cash equivalents of approximately HKD 61.9 million as of March 31, 2025, compared to HKD 62.3 million as of September 30, 2024[89] - The average number of ordinary shares outstanding increased slightly from 465,960,665 shares in 2024 to 466,173,190 shares in 2025[34]

Financial Performance - Total revenue for the year ended February 28, 2025, was RMB 294.1 million, a decrease of 26.7% from RMB 401.4 million in the previous year[4]. - Gross profit for the same period was RMB 143.2 million, down 42.9% from RMB 250.8 million year-on-year[4]. - The company reported a loss attributable to equity holders of RMB 100.8 million, compared to a loss of RMB 23.5 million in the previous year[4]. - Basic and diluted loss per share was RMB 14.28, significantly higher than RMB 3.34 in the prior year[4]. - The company recorded a net loss for the year of RMB 103.3 million, compared to a loss of RMB 24.3 million in the previous year[6]. - Revenue from external customers in mainland China decreased to RMB 294,096 thousand in 2025 from RMB 394,164 thousand in 2024, representing a decline of approximately 25.4%[18]. - The total loss for the year ended February 28, 2025, was RMB 103,292 thousand, compared to a loss of RMB 24,326 thousand for the year ended February 29, 2024[15]. - Total revenue from government subsidies decreased to RMB 732,000 in 2025 from RMB 1,358,000 in 2024, a decline of 46.0%[19]. - The company reported a significant fair value loss on investment properties of RMB (9,244,000) in 2025, with no such loss reported in 2024[19]. - The company's total revenue for the fiscal year 2024/2025 decreased by 26.7% to RMB 294.1 million, compared to RMB 401.4 million in the previous fiscal year 2023/2024[28]. Assets and Liabilities - Total assets decreased to RMB 574.2 million from RMB 744.1 million year-on-year[7]. - Total liabilities reduced to RMB 90.8 million from RMB 126.0 million in the previous year[8]. - Total assets as of February 28, 2025, amounted to RMB 529,994 thousand, a decrease from RMB 693,135 thousand as of February 29, 2024[16]. - The total liabilities as of February 28, 2025, were RMB 76,475 thousand, compared to RMB 106,224 thousand as of February 29, 2024, indicating a reduction of approximately 28.0%[16]. - Cash and bank balances were RMB 327.9 million, down from RMB 364.7 million year-on-year[7]. - Trade receivables were reported at RMB 20.9 million for 2025, down from RMB 31.0 million in 2024, with a provision for impairment of RMB 946,000[26]. - Trade payables decreased to RMB 9.1 million in 2025 from RMB 18.6 million in 2024, indicating improved cash flow management[27]. - The company's total non-current assets (excluding deferred tax assets) decreased to RMB 92,936 thousand in 2025 from RMB 116,035 thousand in 2024[18]. - Non-current assets in mainland China decreased to RMB 25,922 thousand in 2025 from RMB 41,591 thousand in 2024, a decline of approximately 37.7%[18]. Operational Efficiency - The company implemented discount promotions to accelerate inventory turnover, which led to a significant decline in average selling prices and gross profit margins[40]. - The inventory turnover period for finished goods decreased from 432 days to 291 days[35]. - The company has optimized its logistics system to streamline operations, reduce inventory costs, and improve product turnover rates[40]. - A centralization of functions is being pursued to enhance operational efficiency and responsiveness to market changes, while reducing redundant positions[40]. - The group is implementing a series of optimization measures to enhance resilience against external market changes and improve operational efficiency, including streamlining company structure and integrating supply chains[36]. Market and Strategic Focus - The overall decline in revenue and gross profit reflects challenges in the market, necessitating strategic adjustments moving forward[28]. - The company plans to focus on enhancing product offerings and market expansion to recover from the current financial downturn[28]. - The retail environment remains weak, with consumer confidence not showing significant improvement, leading to cautious spending behavior among consumers[36]. - The group is actively reviewing and optimizing its offline distribution network, particularly focusing on stores that incur fixed rental costs and retaining only those contributing positively to the group[39]. - The group aims to maintain an appropriate distance between stores to improve the effectiveness of reaching target customer groups[39]. Employee and Governance - As of February 28, 2025, the company had a total of 595 full-time employees, a decrease from 927 employees as of February 29, 2024[46]. - Employee benefits expenses totaled RMB 124.7 million for the year, compared to RMB 121.7 million in the previous year, reflecting a 2.5% increase[46]. - The company has established comprehensive training programs for employees, enhancing skill development through external consultants[46]. - The company is committed to maintaining high standards of corporate governance and has adhered to the corporate governance code since October 2019[49]. - The audit committee consists of four independent non-executive directors, ensuring oversight of financial reporting and internal controls[47]. E-commerce and Brand Management - The group's e-commerce revenue declined by 8.8% year-on-year due to intense online brand competition and increased return rates in the industry[41]. - The group emphasizes effective online brand management to maintain brand image, rather than relying solely on price reduction strategies[41]. - The group is leveraging live streaming and product sharing events to engage potential customers and stimulate repurchase intentions[41]. - The group aims to strengthen partnerships with traditional e-commerce platforms and emerging social media platforms to drive online traffic[41]. - The group is focused on creating a synergistic effect between online and offline channels to boost overall sales performance[41]. Future Outlook - The World Bank estimates global economic growth to be 2.7% by 2025, but significant downside risks remain due to trade policy uncertainties and ongoing economic tensions[42]. - The company plans to enhance brand image through a new visual identity and packaging upgrades, including a refined gray gift box and a light purple brand logo, to improve customer experience[42]. - The company will continue to optimize offline sales channels and has opened its first flagship store in Shunde Wanxianghui, featuring a wide range of products and fast restocking capabilities[43].

Financial Performance - Revenue was 28,316 million JPY (or 1,473 million HKD), an increase of 5.0% compared to the fiscal year ending March 31, 2024[4] - Profit before tax from continuing operations was 1,652 million JPY (or 86 million HKD), a decrease of 9.8% compared to the fiscal year ending March 31, 2024[4] - Net profit attributable to the company from continuing operations was 607 million JPY (or 32 million HKD), a decrease of 87 million JPY compared to the fiscal year ending March 31, 2024[4] - Basic earnings per share from continuing operations were 0.51 JPY (or 0.03 HKD), down from 0.58 JPY in the fiscal year 2024[4] - Total revenue for the fiscal year ending March 31, 2025, is reported at 28,316 million yen, an increase from 26,955 million yen for the previous year, representing a growth of approximately 5%[5] - Operating profit from continuing operations is 2,534 million yen, compared to 2,722 million yen in the previous year, indicating a decrease of about 7%[5] - The company reported a net income of 607 million JPY for the year, compared to 118 million JPY in the previous year, indicating a significant increase[6] - Total comprehensive income for the year was 565 million JPY, a decrease from 73 million JPY in the previous year[7] - The company reported a total payout of 120,366 million JPY in dividends, compared to 107,891 million JPY in the previous year, representing an increase of approximately 11%[18] - The company reported a total loss of 547 million JPY for the fiscal year ending March 31, 2024, with a basic loss per share of (0.23) JPY[32] Investment and Capital Expenditures - Total investment amount was 145,091 million JPY (or 7,549 million HKD), an increase of 10.1% compared to the fiscal year ending March 31, 2024[4] - Capital expenditures for the fiscal year ending March 31, 2025, are expected to be ¥4,223 million, up from ¥3,551 million in the previous year, representing an increase of approximately 18.9%[25] - The company has entered into two purchase agreements for hotel properties totaling 1,156.8 million JPY, with 25% of the price to be funded by minority shareholders[14] - The company acquired 100% of the issued shares of two hotel property companies for a cash consideration of 1 JPY each, along with a loan of 100 million JPY to assist with repayment obligations[45][46] - The identifiable net assets acquired from the purchase amounted to 100 million JPY, including cash and cash equivalents of 18 million JPY and property, plant, and equipment valued at 229 million JPY[48] Operational Highlights - The company operated 49 gaming halls in Japan as of the announcement date, unchanged from March 31, 2024[4] - The number of installed gaming machines reached 29,192 units by the end of March 2025, marking a new high for the company[50] - The company has introduced self-service kiosks in 46 gaming halls, representing 94% of the total, to enhance customer satisfaction and operational efficiency[51] - The company continues to adapt its gaming hall operations to improve sales capabilities and has successfully transformed unprofitable locations into top-performing venues in their respective areas[52] - The company has reported a significant increase in user data, reflecting a growing customer base[6] Discontinued Operations - The company terminated its restaurant operations in China in August 2023, and this segment is reported as discontinued operations[21] - The bankruptcy plan for the terminated operations in China was approved by the board on September 19, 2023, with the bankruptcy proceedings currently ongoing[30] - The financial performance of discontinued operations will be presented in the consolidated comprehensive income statement as per IFRS 5[31] - The company reported a net loss of 431 million JPY due to the early termination of a restaurant lease, with a total lease liability recognized at 243 million JPY[32] Future Outlook and Strategy - The company aims to enhance its market presence through new product development and strategic partnerships in the upcoming fiscal year[5] - Future guidance indicates a focus on improving operational efficiency and exploring potential mergers and acquisitions to drive growth[5] - The company plans to invest in technology advancements to enhance user experience and expand its service offerings[5] - The company plans to focus on expanding its market presence and developing new technologies in the upcoming fiscal year[6] - The company aims to address local issues to create new business opportunities and reduce future operational risks, emphasizing regional development as a key future task[62] Financial Position - The total assets of the company as of the reporting date were 694 million yen, reflecting a stable asset base[5] - Total assets decreased to 63,653 million JPY from 65,760 million JPY year-over-year[8] - The company’s total liabilities decreased to 50,847 million JPY from 51,888 million JPY[8] - The total equity of the company as of March 31, 2025, is 19,235 million JPY, an increase from 18,981 million JPY in the previous year[9] - The company's total liabilities amount to 44,418 million JPY, down from 46,779 million JPY year-over-year[9] Corporate Governance and Compliance - The company has adopted and complied with all applicable principles and rules of the Corporate Governance Code as of March 31, 2025, except for the separation of roles between the Chairman and CEO[95] - The company’s audit committee, along with management and external auditors, reviewed the accounting principles and policies adopted for the year ended March 31, 2025[100] - The annual general meeting of shareholders will be held on June 30, 2025, at a specified location in Fukushima, Japan[102] Market and Economic Environment - The company anticipates challenges in the economic environment due to inflation and currency depreciation, impacting consumer purchasing power and spending behavior[49] - Management believes that the recent acquisitions present a good opportunity for further expansion in the hotel business following the strong recovery of Japan's tourism industry post-COVID-19[92]

Financial Performance - The Group's revenue for the Relevant Period was $6.8 million, a decrease of $0.2 million or 3.3% compared to $7.1 million in the Previous Period[14]. - The Group's profit for the Relevant Period was $173,000, down from a profit of $506,000 in the Previous Period[14]. - Gross profit for the Relevant Period was $2.3 million, compared to $2.5 million in the Previous Period[16]. - The Group's earnings per share for the Relevant Period were 0.02 cents, down from 0.06 cents in the Previous Period[16]. - The total comprehensive income for the period ended March 31, 2025, was $173,000, an increase from $506,000 for the period ended March 31, 2024[18]. - Consolidated profit before taxation for 2025H1 was $267,000, a decline of 55.3% compared to $596,000 in 2024H1[38]. - Segment profit for 2025H1 was $2,304,000, down 11.4% from $2,494,000 in 2024H1[38]. - Total revenue for 2025H1 was $6,837,000, a decrease of 3.25% from $7,067,000 in 2024H1[35]. Expenses and Liabilities - Selling and distribution expenses increased to $1.046 million from $0.914 million in the Previous Period[16]. - Employee costs, including Directors' remuneration, increased to $1.6 million during the Relevant Period, up from $1.3 million in the previous period[100]. - The Group's current taxation for 2025H1 was $94,000, compared to $90,000 in 2024H1[41]. - The Group's total liabilities were $3.3 million as of March 31, 2025, down from $3.6 million as of September 30, 2024[86]. Assets and Equity - Total assets as of March 31, 2025, were $21.695 million, slightly down from $21.785 million as of September 30, 2024[17]. - Total equity attributable to shareholders increased to $18.364 million from $18.191 million[17]. - The total equity of the company increased to $18,364,000 as of March 31, 2025, compared to $17,334,000 as of March 31, 2024, indicating a growth of 5.9%[18]. - Cash and cash equivalents rose to $3.682 million from $3.453 million[17]. - Cash and bank balances at the end of the first half of 2025 were $3,682,000, up from $2,868,000 at the end of the first half of 2024, representing a 28.4% increase[19]. Dividends - The Board has resolved not to declare any dividend for the Relevant Period[14]. - The company has resolved not to declare any dividend for 2025H1, consistent with 2024H1[81]. Business Operations - The Group's principal activity remains the supply of tissue products to corporate customers in Singapore, with a focus on tissue and hygiene-related products[22][28]. - The company remains optimistic about industry growth in Singapore, emphasizing the necessity of tissue products[63][64]. - Major customer Company A contributed $1,142,000 to revenue in 2025H1, down from $1,295,000 in 2024H1[38]. - Sales of hygiene-related products decreased by 14.3%, amounting to a reduction of $64,000[80]. Corporate Governance - The company has adopted and complied with the Corporate Governance Code, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual[135]. - The Audit Committee consists of three independent non-executive Directors, ensuring proper oversight of financial statements[136]. - All Directors confirmed compliance with the Required Standard of Dealings during the Relevant Period[125]. Future Outlook - Future outlook indicates a revenue growth target of 15% for FY2025, driven by new product launches and market expansion strategies[147]. - The company is investing in research and development for innovative technologies, with a budget allocation of HK$50 million for FY2024[148]. - Market expansion plans include entering two new international markets by the end of FY2025, aiming for a 10% market share in each[145]. - A new product line is set to launch in Q1 FY2025, expected to contribute an additional HK$20 million in revenue[147]. - The company aims to improve operational efficiency by 5% through process optimization initiatives in FY2024[148]. Shareholder Information - Mr. Chua Liang Sie holds 552,000,000 shares, representing 69% of the total issued shares of YJH Group Limited[112]. - Mr. Chua Liang Chui holds 552,000,000 shares, also representing 69% of the total issued shares of YJH Group Limited[112]. - YJH Group Limited is approximately 82.76% owned by Mr. Chua Liang Sie and 17.24% by Mr. Chua Liang Chui[113]. Compliance and Regulations - The company has confirmed compliance with the trading standards by all Directors during the relevant period[131]. - The company is committed to ensuring that its business activities and decision-making processes are regulated in a prudent manner[134]. - Forward-looking statements in the report involve known and unknown risks that could cause actual results to differ materially[139].

Financial Performance - For the three months ended March 31, 2025, the company reported revenue of RMB 2,586,953 thousand, an increase of 8.8% compared to RMB 2,377,626 thousand for the same period in 2024[4] - Gross profit for the same period was RMB 409,680 thousand, reflecting a year-on-year growth of 7.1% from RMB 382,485 thousand[4] - The company achieved a net profit of RMB 227,515 thousand, which is a 15.8% increase from RMB 196,431 thousand in the previous year[4] - The adjusted profit before tax rose to RMB 328,124 thousand, marking a 17.3% increase compared to RMB 279,744 thousand in 2024[4] - Operating profit rose from RMB 284.0 million for the three months ended March 31, 2024, to RMB 316.0 million for the same period in 2025, with an operating margin increase from 11.9% to 12.2%[17] - Net profit for the three months ended March 31, 2025, was RMB 227.5 million, resulting in a net profit margin of 8.8%, up from RMB 196.4 million and 8.3% in the prior year[21] - Adjusted net profit for the three months ended March 31, 2025, was RMB 242.2 million, compared to RMB 208.9 million in the same period of 2024[24] - Adjusted pre-tax profit margin increased from 11.8% in 2024 to 12.7% in 2025[25] Operational Metrics - Total freight volume reached 3,045 thousand tons, up 5.9% from 2,875 thousand tons in the same period last year[7] - The total number of tickets processed increased by 28.2% to 40,465 thousand tickets from 31,568 thousand tickets in 2024[7] - The average transportation service price decreased by 2.3% to RMB 432 per ton, while the average value-added service price increased by 12.6% to RMB 188 per ton[8] - The average delivery time was optimized to approximately 65 hours as of March 2025, reflecting improvements in service quality[7] Cost Management - Operating costs increased by 9.1% from RMB 1,995.1 million for the three months ended March 31, 2024, to RMB 2,177.3 million for the three months ended March 31, 2025[13] - Financial costs decreased by 55.3% from RMB 17.0 million for the three months ended March 31, 2024, to RMB 7.6 million for the same period in 2025, primarily due to loan repayments[18] - General and administrative expenses decreased by 15.8% from RMB 128.5 million for the three months ended March 31, 2024, to RMB 108.2 million for the same period in 2025[15] - Other income and gains decreased from RMB 30.1 million for the three months ended March 31, 2024, to RMB 14.5 million for the same period in 2025[16] Liquidity and Financial Position - Cash and cash equivalents as of March 31, 2025, were RMB 2,006 million, indicating strong liquidity[26] Strategic Initiatives - The company expanded its network, increasing the number of freight partners and agents to over 36,000, up from approximately 29,400 in the previous year[7] - The company continues to focus on enhancing product competitiveness and operational efficiency through digital infrastructure improvements[6] Governance - The board of directors consists of executive directors Qin Xinghua and Jin Yun, non-executive directors Chen Weihao, Zhang Yinghao, and Wei Bin, and independent non-executive directors Li Wei, Ge Xiaochu, Sha Sha, and Hong Changfu[28]

Director Retirements - The company clarified that the retiring directors listed on page 37 of the 2024 annual report should be Mr. Wang Yu, Mr. Qiu Bo, and Mr. Zhao Yuwen[4] Report Status - All other information contained in the 2024 annual report remains unchanged[5]

Financial Performance - For the three months ended March 31, 2025, Mobvista Inc. reported revenue of $439.6 million, a year-over-year increase of 45.8% and a quarter-over-quarter decrease of 3.0%[2] - Net income for the same period was $120.8 million, reflecting a 47.0% increase year-over-year and a slight decrease of 1.8% from the previous quarter[2] - The gross profit for the quarter was $96.0 million, up 55.4% year-over-year, with a marginal decrease of 1.3% from the previous quarter[2] - Adjusted net profit for the quarter was $21.9 million, a significant increase of 146.8% year-over-year, although it decreased by 18.4% from the previous quarter[2] - Revenue for the three months ended March 31, 2025, was $439,642 thousand, a 45.9% increase from $301,482 thousand in 2024[29] - Gross profit for the same period was $96,046 thousand, representing a gross margin of 21.8%, up from $61,819 thousand and a margin of 20.5% in 2024[29] - Basic earnings per share for Q1 2025 was $1.40, compared to $0.50 in Q1 2024, reflecting a significant increase[29] - Operating profit for the three months ended March 31, 2025, was $23,737 thousand, up from $10,262 thousand in the same period last year[29] - Total comprehensive income for Q1 2025 was $20,198 thousand, compared to $7,320 thousand in Q1 2024, indicating strong overall performance[30] Revenue Breakdown - The programmatic advertising platform Mintegral generated revenue of $420.8 million, representing a year-over-year growth of 48.4% but a quarter-over-quarter decline of 3.7%[4] - Revenue from the gaming category within Mintegral reached $305.7 million, accounting for 72.6% of total revenue, with a year-over-year increase of 50.7%[13] - Non-gaming revenue for Mintegral was $115.1 million, which is 27.4% of total revenue, showing a year-over-year growth of 42.5%[13] - The revenue from the advertising technology business was $435.3 million, which is 99.0% of total revenue, with a year-over-year increase of 46.4%[7] - Mintegral's total revenue for the three months ended March 31, 2025, reached $420.76 million, a 48.4% increase compared to $283.58 million in the same period of 2024[14] - The total revenue from the gaming segment was $305.68 million, accounting for 72.6% of the programmatic advertising business, with a year-over-year growth of 50.7%[14] Cost and Expenses - The cost of sales increased by 43.4% to $343.6 million, up from $239.7 million in the same period of 2024, primarily driven by rising traffic and server costs in the advertising technology business[15] - Research and development expenses increased by 43.0% to $42.2 million, up from $29.5 million in the same period of 2024, mainly due to the development of an intelligent bidding system[21] - Sales and marketing expenses rose by 31.2% to $17.3 million, compared to $13.2 million in the same period of 2024, primarily due to increased bidding costs[19] Profitability Metrics - Adjusted EBITDA for the period was $41.7 million, a 35.9% increase from $30.7 million in the same period of 2024[23] - Operating profit for the period was $23.7 million, representing a 131.3% increase from $10.3 million in the same period of 2024[26] - The advertising technology business gross profit rose 59.1% to $93.0 million, with a gross margin of 21.4%, compared to 19.7% in the same period of 2024[18] - The marketing technology business gross profit was $3.0 million, with a gross margin of 69.9%, down from 79.3% in the same period of 2024[17] Balance Sheet and Liquidity - Current liabilities decreased to $519,278 thousand from $581,326 thousand, improving the company's liquidity position[31] - Total assets less current liabilities increased to $253,497 thousand from $233,330 thousand, reflecting a stronger balance sheet[32] - Non-controlling interests decreased to $5,641 thousand from $7,074 thousand, indicating a shift in ownership structure[32] Company Acknowledgments - The company expressed gratitude to management, employees, regulatory bodies, shareholders, and customers for their support during the reporting period[33]

Financial Reporting - Da Ming International Holdings Limited will publish its annual report for the year ending December 31, 2024, on April 24, 2025[2] Employee Incentive Plans - The company has a share incentive plan that allows selected employees to receive up to 30% of their awarded shares on the third anniversary of the grant date[3] - On the fourth anniversary, selected employees may receive up to 60% of their awarded shares under the same plan[4] - The remaining awarded shares will fully vest on the fifth anniversary, subject to performance criteria and continued employment[4]