Financial Performance - The total revenue for the year ended December 31, 2025, was RMB 674.7 million, a decrease of 1.3% compared to RMB 683.5 million in 2024[3] - Gross profit for the same period was RMB 173.7 million, with a gross margin of 25.7%, compared to RMB 172.3 million and a gross margin of 25.2% in 2024[3] - Net profit for the year increased by 4.2% to RMB 74.5 million, up from RMB 71.5 million in 2024[3] - Operating profit for the year was RMB 95.9 million, an increase from RMB 90.6 million in 2024[5] - Basic and diluted earnings per share were RMB 0.46, down from RMB 0.50 in 2024[6] - The group's revenue for 2025 was RMB 674,664,000, a decrease of 1.2% from RMB 683,511,000 in 2024[18] - The total gross profit for the group in 2025 was RMB 173,676,000, compared to RMB 172,324,000 in 2024, reflecting a slight increase[23] - The pre-tax profit for 2025 was RMB 99,187,000, an increase from RMB 95,114,000 in 2024, representing a growth of approximately 3.1%[30] - Total profit and comprehensive income increased by 4.2% from RMB 74.5 million in the previous year[69] Revenue Breakdown - Revenue from property management services was RMB 312,912,000 in 2025, up 12.3% from RMB 278,526,000 in 2024[17] - Revenue from municipal environmental services decreased to RMB 52,786,000 in 2025, down 16.2% from RMB 62,971,000 in 2024[17] - Revenue from commercial operation services increased to RMB 67,593,000 in 2025, up 10.5% from RMB 61,338,000 in 2024[17] - The company's city services revenue was RMB 280.9 million, a decrease of 15.2% compared to RMB 331.1 million in 2024, primarily due to a reduction in the number of managed projects[51] - Revenue from commercial operation services increased by 10.2% to RMB 67.6 million, compared to RMB 61.3 million for the same period in 2024, attributed to rising rents and management fees, as well as full-year revenue recognition from several projects that started in 2024[53] - Property management service revenue increased by 12.1% to RMB 326.2 million, driven by an increase in managed building area from 11.4 million square meters to 15.9 million square meters and an increase in the number of managed projects from 81 to 135[60] Assets and Liabilities - The cash and cash equivalents as of December 31, 2025, were RMB 353.3 million, remaining relatively stable compared to RMB 354.7 million in 2024[3] - Total assets less current liabilities amounted to RMB 415.5 million, compared to RMB 378.5 million in 2024[8] - The total equity attributable to equity shareholders of the company was RMB 412.1 million, an increase from RMB 374.5 million in 2024[8] - Trade receivables amounted to RMB 191,998,000 in 2025, slightly down from RMB 198,452,000 in 2024, indicating a decrease of about 3.1%[37] - The total liabilities for trade and other payables increased to RMB 491,878,000 in 2025 from RMB 480,002,000 in 2024, reflecting an increase of approximately 2.9%[39] - The company's contract liabilities at the end of 2025 were RMB 23,086,000, a slight decrease from RMB 23,578,000 in 2024, indicating a reduction of about 2.1%[36] Dividends - The board proposed a final dividend of RMB 0.24 per share for the year ended December 31, 2025, compared to RMB 0.23 per share in 2024[3] - The company declared a special dividend of RMB 0.22 per share for 2025 and a proposed final dividend of RMB 0.24 per share, compared to RMB 0.23 per share in 2024, totaling RMB 38,400 thousand for 2025[42] - The company proposes a final cash dividend of RMB 0.24 per share, representing a payout ratio of approximately 51.6%[88] Operational Highlights - The total managed construction area increased by 36.9% to 16.7 million square meters compared to the previous year[3] - The company managed 135 property management service projects as of December 31, 2025, an increase of 54 projects year-on-year, with a managed building area of approximately 15.9 million square meters, representing a 39.5% increase[49] - The total number of projects managed across all service divisions reached 414, with a total managed building area of 16.7 million square meters as of December 31, 2025[47] - The total number of city service projects is expected to decrease to 225 by December 31, 2025, down by 40 projects compared to December 31, 2024, primarily due to changes in client operations and a decline in new projects initiated due to the macroeconomic environment and real estate industry downturn[52] Strategic Initiatives - The company aims to expand its market presence by leveraging business resources from Changsha Urban Development Group and actively pursuing independent third-party clients[49] - The company aims to strengthen its market position in Hunan Province and explore growth opportunities through strategic acquisitions and partnerships with independent third-party developers and government agencies[55] - The company plans to enhance service quality and customer satisfaction while optimizing its business layout, focusing on property management services in parks, government properties, and scenic areas[56] Compliance and Governance - The group did not apply any new standards or interpretations that were not effective during the reporting period[15] - The group’s accounting policies are in compliance with International Financial Reporting Standards and relevant local regulations[14] - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions during the reporting period[95] - The company has established an audit committee responsible for reviewing and supervising the financial reports and internal control systems[99] - The financial statements for the year ending December 31, 2025, have been reviewed by KPMG, confirming consistency with the reported amounts[100] Employee and Cost Management - The total employee cost for the reporting period was RMB 101.1 million, a decrease from RMB 107.1 million for the year ending December 31, 2024[87] - The company has a total of 545 employees as of December 31, 2025[87] - The company plans to expand its full-time team, allocating 13.7% of total net proceeds for talent training and retention by the end of 2027[85] - The company has not faced significant difficulties in recruitment or experienced major employee turnover during the reporting period[87] Taxation - The company's tax expense for 2025 was RMB 24,699,000, compared to RMB 23,632,000 in 2024, representing an increase of approximately 4.5%[29] - The company will withhold 10% corporate income tax on dividends distributed to non-resident corporate shareholders[90] - The company will withhold personal income tax at a rate of 10% for individual shareholders from Hong Kong, Macau, and other countries with a tax treaty with China[92] - For individual shareholders from countries with a tax rate lower than 10% as per tax treaties, the company will still withhold at a rate of 10%[93] - If the tax rate according to the tax treaty is between 10% and 20%, the company will withhold at the applicable tax rate specified in the treaty[93] - For shareholders from countries with a tax rate of 20% or those without any tax treaty, the company will withhold at a rate of 20%[94] Recent Developments - The company reached a settlement agreement regarding a claim of $615,200 on January 19, 2026, and submitted a consent order to the court[104] - No significant events have occurred since the end of the reporting period up to the date of this announcement[104] - The annual performance announcement has been published on the company's website and the Hong Kong Stock Exchange website[105]

Financial Performance - Revenue increased by 3.4% to RMB 1,205,000,000[3] - Gross profit rose by 3.2% to RMB 209,300,000[3] - Profit attributable to owners of the company was RMB 44,300,000[3] - Basic earnings per share decreased to RMB 5.20 from RMB 6.52[5] - Total comprehensive income for the year was RMB 41,841,000, down from RMB 69,277,000[5] - The company's pre-tax profit for 2025 was RMB 43,786,000, down from RMB 58,959,000 in 2024, indicating a decrease of 25.7%[23] - Basic earnings per share for 2025 were approximately RMB 44,342,000, compared to RMB 55,552,000 in 2024, a decline of 20.2%[25] - The gross profit for the year was approximately RMB 209.3 million, with a gross margin of 17.4%, unchanged from the previous year[46] Assets and Liabilities - Non-current assets increased to RMB 1,219,530,000 from RMB 1,159,555,000[6] - Current assets decreased to RMB 762,573,000 from RMB 780,919,000[6] - Total liabilities decreased to RMB 1,109,829,000 from RMB 1,113,041,000[7] - Net assets increased to RMB 872,274,000 from RMB 827,433,000[7] - Total non-current assets as of December 31, 2025, were RMB 1,212,500,000, an increase from RMB 1,152,793,000 in 2024, representing a growth of 5.2%[12] - Total current assets were approximately RMB 762,600,000 as of December 31, 2025, down from RMB 780,900,000 in 2024, while total current liabilities decreased to approximately RMB 475,100,000 from RMB 559,000,000[57] - Interest-bearing bank borrowings amounted to approximately RMB 721,500,000 as of December 31, 2025, up from RMB 677,300,000 in 2024[59] - The net debt ratio as of December 31, 2025, was 36.5%, compared to 35.1% in 2024[57] Revenue Breakdown - Revenue from the Chinese market was RMB 807,751,000, up from RMB 783,720,000 in 2024, representing a growth of 3.9%[15] - Revenue from material products reached approximately RMB 1,106.3 million, accounting for 91.8% of total revenue, with a growth rate of 4.4% compared to RMB 1,060.1 million in 2024[43] - Revenue from building materials was approximately RMB 98.7 million, representing 8.2% of total revenue, a decrease of 6.2% from RMB 105.2 million in 2024[44] - The domestic market accounted for approximately 67.0% of total revenue, while export sales represented about 33.0%[41] Costs and Expenses - The cost of goods sold for 2025 was RMB 995,715,000, compared to RMB 962,512,000 in 2024, reflecting an increase of 3.4%[20] - Research and development costs amounted to approximately RMB 53.5 million, an increase from RMB 47.7 million in 2024, highlighting the company's commitment to maintaining long-term competitiveness[51] - Sales and distribution costs decreased to approximately RMB 46.4 million from RMB 47.5 million in 2024, primarily due to reduced marketing expenditures[49] - Financing costs increased to approximately RMB 19,100,000 in 2025 from RMB 9,600,000 in 2024, mainly due to an increase in bank loans[54] Inventory and Receivables - The total inventory decreased to RMB 190,968,000 in 2025 from RMB 241,403,000 in 2024, representing a decline of 20.9%[29] - Trade receivables increased slightly to RMB 363,636,000 in 2025 from RMB 359,741,000 in 2024, with a provision for losses of RMB 4,805,000[30] - The aging analysis of trade receivables shows that amounts overdue by more than one year increased to RMB 15,983,000 in 2025 from RMB 2,344,000 in 2024[30] - The company recorded a net impairment of trade receivables of RMB 2,374,000 in 2025, compared to RMB 4,100,000 in 2024, showing an improvement in credit quality[30] - The weighted average expected loss rate for trade receivables was 8% for amounts overdue by more than 120 days in 2025, compared to 49% in 2024[31] - Inventory impairment recognized at approximately RMB 3,800,000 for the year ended December 31, 2025, compared to RMB 2,100,000 in 2024, primarily due to write-downs of slow-moving and obsolete inventory[53] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with the guidelines until December 31, 2025, with some deviations noted[74] - All directors confirmed compliance with the standards for securities trading as outlined in the listing rules for the fiscal year ending December 31, 2025[75] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and financial reporting, ensuring adherence to applicable accounting standards and full disclosure[77] Future Plans and Strategies - The company plans to continue investing in high-performance green products and digital technology to enhance competitiveness amid global market challenges[42] - The company plans to develop ecological building materials and expand into overseas markets while promoting the "Sijia Super Energy Core" brand[67] - The company aims to enhance new materials business development and actively research new products and applications[68] - The company will implement a comprehensive talent strategy and establish a safety management center to improve operational efficiency and safety management[68] Miscellaneous - The company did not recommend any dividends for the year ending December 31, 2025, consistent with the previous year[24] - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2025, with no significant impact on its financial statements[10] - The company's shares have been suspended from trading since February 14, 2013, and will continue to be suspended until further notice[78] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website, with the annual report for the year ending December 31, 2025, to be sent to shareholders at an appropriate time[79]

Financial Performance - Revenue for the year ended December 31, 2025, increased by approximately 1.3% to approximately RMB 236.5 million compared to RMB 233.6 million in the fiscal year 2024[3] - Gross profit for the year ended December 31, 2025, increased by approximately 0.3% to approximately RMB 123.8 million compared to RMB 123.4 million in the fiscal year 2024[3] - Net profit for the year ended December 31, 2025, decreased by approximately 7.9% to approximately RMB 76.3 million compared to RMB 82.9 million in the fiscal year 2024[3] - Adjusted net profit (excluding listing expenses) for the year ended December 31, 2025, decreased by approximately 6.7% to approximately RMB 77.3 million compared to RMB 82.9 million in the fiscal year 2024[3] - Earnings per share attributable to ordinary equity holders of the parent for the year ended December 31, 2025, was RMB 1.02 compared to RMB 1.11 in the fiscal year 2024[3] - Total revenue for 2025 was RMB 236,507,000, a slight increase from RMB 233,576,000 in 2024, representing a growth of 1.0%[4] - Customer contract revenue decreased to RMB 188,944,000 in 2025 from RMB 191,197,000 in 2024, a decline of 1.2%[4] - Rental income from leasing services increased to RMB 47,563,000 in 2025, up from RMB 42,379,000 in 2024, marking an increase of 12.9%[4] - Other income decreased to RMB 6,276,000 in 2025 from RMB 9,641,000 in 2024, a decline of 34.5%[19] - Pre-tax profit for the group was RMB 76,317,000 in 2025, down from RMB 82,880,000 in 2024, a decrease of 7.9%[27] - Total tax expense for the year was RMB 26,950,000 in 2025, compared to RMB 28,351,000 in 2024, a reduction of 4.9%[22] Assets and Liabilities - Total non-current assets as of December 31, 2025, were approximately RMB 1,048.2 million, a decrease from RMB 1,134.7 million as of December 31, 2024[5] - Total current assets as of December 31, 2025, were approximately RMB 175.7 million, an increase from RMB 77.2 million as of December 31, 2024[5] - Total liabilities as of December 31, 2025, were approximately RMB 363.2 million, compared to RMB 387.5 million as of December 31, 2024[6] - Net assets as of December 31, 2025, were approximately RMB 860.7 million, an increase from RMB 824.4 million as of December 31, 2024[6] - Cash and cash equivalents as of December 31, 2025, were approximately RMB 938 million, an increase of 160.5% from RMB 360 million as of December 31, 2024[60] - Bank borrowings as of December 31, 2025, were approximately RMB 2.043 billion, a decrease of 2.0% from RMB 2.085 billion as of December 31, 2024[61] - The debt-to-equity ratio as of December 31, 2025, was 42.2%, down from 47.0% as of December 31, 2024[62] Dividends - The board proposed a final cash dividend of RMB 0.3053 per share (tax included), amounting to RMB 30 million[3] - The company declared dividends totaling RMB 40,000,000 for 2025, consistent with the previous year[24] - The company declared a final cash dividend of approximately RMB 40 million for the year ended December 31, 2025, compared to RMB 140 million for the year ended December 31, 2024[70] - The proposed final cash dividend per share for the year ended December 31, 2025, is RMB 0.3053, subject to approval at the upcoming annual general meeting[71] Operational Developments - The company operates an automated temperature-controlled warehouse, enhancing its cold storage services for frozen food wholesalers and retailers[30] - The company has implemented automated features in its cold storage facilities, enhancing storage management efficiency and ensuring seamless handling from receipt to delivery[32] - The integration of warehouse management and transportation management systems has enabled unmanned operations, streamlining customer operations and promoting business growth[33] - The company offers auxiliary services such as loading and unloading, and temperature-controlled transportation services, expanding customer operational reach while ensuring product quality[34] - The company has over 18 years of experience in the cold chain service industry in China and has become a preferred choice for frozen food transactions in Changsha, Hunan Province[35] - The company focuses on dynamic space management to maximize the utilization of existing rental spaces and conducts annual reviews of its customer portfolio to optimize store allocation[36] - The company completed the construction of an automated cold storage warehouse in August 2024, significantly improving storage efficiency with advanced automated storage infrastructure[37] - The company has developed a warehouse management system that utilizes data analysis to enhance operational efficiency and reduce costs, while also tracking financial data related to its services[38] Future Plans - The company plans to continue implementing strategies for further growth following its successful listing on the Hong Kong Stock Exchange in 2026[39] - The company plans to expand its service offerings by building a new processing plant, increasing total available storage capacity by approximately 8.7% by the end of 2028[40] - Strategic acquisitions and partnerships are planned to enhance vertical integration and supply chain control, targeting two to three acquisition targets with enterprise values between RMB 100 million and RMB 200 million over the next four years[43] Compliance and Governance - The audit committee, composed of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending December 31, 2025, and found them compliant with applicable accounting standards[76] - The company has confirmed compliance with the standard code for securities transactions by directors since the listing date[73] - The company has received a new exemption from the Stock Exchange regarding the appointment of Ms. Zhan as co-company secretary, valid until January 12, 2029[86] - The new exemption is conditional upon Ms. Zhan receiving assistance from Mr. You during the exemption period[86] - Mr. You has over 7 years of experience in compliance and company secretary roles for listed companies in Hong Kong[89] Shareholder Information - The annual general meeting is scheduled for June 26, 2026, with a notice to be published in due course[79] - The company will suspend the transfer of shares from June 23, 2026, to June 26, 2026, to determine eligible shareholders for the annual general meeting[80] - The company will withhold corporate income tax at a rate of 10% on dividends distributed to overseas non-resident corporate H shareholders[82] - The company has not engaged in any purchase, sale, or redemption of its listed securities as of December 31, 2025[74] - There have been no significant events affecting the group from December 31, 2025, to the date of this announcement, aside from the successful listing[78] - The annual performance announcement will be published on the Stock Exchange and the company's website, with the annual report for the year ending December 31, 2025, to be released in due course[90]

Revenue Performance - Revenue for the year was approximately RMB 92.5 million, a decrease of about 24.3% compared to RMB 122.3 million in 2024[3] - Revenue from the Automatic Meter Reading segment decreased by approximately 41.5% to about RMB 39.2 million, down from RMB 67.1 million in 2024[3] - Revenue from the Smart Manufacturing and Industrial Automation segment decreased by approximately 46.5% to about RMB 16.0 million, down from RMB 29.8 million in 2024[3] - Revenue from Wind Farm Maintenance increased by approximately 47.2% to about RMB 37.4 million, up from RMB 25.4 million in 2024[3] - The total revenue for the group in 2025 is projected to be RMB 92,544,000, while in 2024 it was RMB 122,298,000, indicating a decrease of approximately 24.4% year-over-year[25] - The revenue from the automatic meter reading and other services segment in 2025 is RMB 39,227,000, down from RMB 67,075,000 in 2024, representing a decline of about 41.6%[25] - The revenue from the smart manufacturing and industrial automation segment in 2025 is RMB 15,623,000, compared to RMB 23,749,000 in 2024, reflecting a decrease of approximately 34.2%[25] - The wind farm maintenance services segment generated revenue of RMB 37,357,000 in 2025, up from RMB 25,384,000 in 2024, showing an increase of about 47.2%[25] Financial Losses and Earnings - The net loss attributable to equity shareholders for the year was approximately RMB 23.6 million, compared to a net loss of RMB 73.5 million in 2024[3] - Basic loss per share for the year was approximately RMB 13.32, compared to RMB 67.51 in 2024 (restated)[3] - The company reported a net loss of RMB 73,543,000 for the year ending December 31, 2025, compared to a net loss of RMB 23,654,000 in 2024, indicating a significant increase in losses[6] - Total comprehensive income for the year was RMB (76,813,000) in 2025, compared to RMB (17,825,000) in 2024, reflecting a worsening financial position[6] - The company reported a basic loss per share of RMB 67.51 for 2025, compared to RMB 13.32 for 2024, indicating a substantial increase in losses per share[6] - The group reported a net loss of approximately RMB 23,654,000 for the year ending December 31, 2025[13] - The total loss before tax for 2025 was RMB 72,235,000, reflecting a significant increase in operational challenges compared to previous years[33] - The annual loss for the group was RMB 23,654,000 in 2025, compared to RMB 73,543,000 in 2024, indicating a significant reduction in losses[41] Assets and Liabilities - The company's total assets decreased from RMB 236,573,000 in 2024 to RMB 213,627,000 in 2025, representing a decline of approximately 9.7%[7] - Total liabilities increased from RMB 236,573,000 in 2024 to RMB 213,627,000 in 2025, indicating a shift in the company's financial structure[8] - The company's total current liabilities decreased from RMB 289,134,000 in 2024 to RMB 117,932,000 in 2025, indicating a significant reduction in short-term obligations[8] - The company’s long-term borrowings increased from RMB 56,940,000 in 2024 to RMB 140,029,000 in 2025, suggesting a reliance on debt financing[8] - The company’s total equity decreased from RMB 236,573,000 in 2024 to RMB 213,627,000 in 2025, reflecting a decline in shareholder value[8] - As of December 31, 2025, the total liabilities amounted to approximately RMB 54,187,000, with current liabilities at approximately RMB 18,842,000[13] - The total borrowings of the group were approximately RMB 179,049,000, of which RMB 39,020,000 was classified as current liabilities[13] - The group had a cash and bank balance of approximately RMB 17,009,000 as of December 31, 2025[13] Operational Strategies and Future Outlook - The management is implementing cost control measures to generate sufficient operating cash flow to meet current and future obligations[16] - The group plans to consider raising additional funds through equity financing and bank loans to support its operational cash needs[16] - The directors believe that, considering the planned measures, the group will have sufficient working capital for at least the next 15 months[14] - The group is focused on improving operational performance and cash flow through successful implementation of its business plans[17] - The group is actively exploring opportunities in the smart manufacturing industry, supported by national policies aimed at digitalization and automation[57] - The company aims to enhance its core competitiveness by focusing on technological innovation and business development in the context of ongoing reforms in the electricity sector[89] - The company plans to enhance its broadband dual-mode communication products, including chips and communication modules, to expand its competitiveness in domestic markets[94] - The company aims to maintain technological leadership in the broadband dual-mode communication market, actively participating in the development and market promotion of related products for the State Grid and Southern Grid[95] Corporate Governance and Compliance - The company is committed to maintaining a robust corporate governance framework and has adhered to all applicable corporate governance codes during the review period[102][103] - The independent auditor was unable to express an opinion on the consolidated financial statements due to significant uncertainties regarding the group's ability to continue as a going concern[115] - The group is actively working on an action plan to address the issues raised by the independent auditor[120] - The group has not yet obtained written agreements from counterparties regarding the extension of the going concern assessment[118] Research and Development - The group recorded research and development expenses of RMB 8,197,000 in 2025, down from RMB 22,613,000 in 2024, representing a decrease of approximately 63.7%[41] - The group confirmed conditional government subsidies amounting to RMB 147,000 for the year ending December 31, 2025, and RMB 123,000 for 2024 to encourage R&D projects[34] - The group confirmed that eligible R&D expenditures can enjoy a 100% additional tax deduction for the year 2025[37] Employee and Shareholder Information - The company completed a share consolidation on August 18, 2025, reducing the number of shares from 1,000,000,000 to 200,000,000, with a new par value of HKD 0.005 per share[80] - The company raised approximately HKD 82.33 million before expenses through a rights issue, issuing 164,668,068 shares at a subscription price of HKD 0.5 per share[81] - As of December 31, 2025, the group had a total of 58 employees, a decrease from 67 employees as of December 31, 2024[110] - Employee costs, including directors' remuneration, amounted to approximately RMB 6.9 million for the year, compared to RMB 41.9 million in 2024[110]

Financial Performance - For the year ending December 31, 2025, the revenue was approximately RMB 218.5 million, a decrease of 21.5% compared to RMB 278.2 million for the year ending December 31, 2024[3]. - The profit attributable to equity holders for the year ending December 31, 2025, was approximately RMB 15.3 million, down from RMB 20.1 million for the previous year, representing a decline of 23.9%[3]. - Basic earnings per share for the year ending December 31, 2025, were approximately RMB 0.015, compared to RMB 0.020 for the year ending December 31, 2024, reflecting a decrease of 25%[3]. - Total comprehensive income attributable to equity holders for the year was RMB 14.34 million, down from RMB 20.09 million in the prior year, indicating a decline of 28.5%[5]. - Operating profit decreased by approximately RMB 4.2 million or about 20.1% to RMB 16.7 million for the year ending December 31, 2025[78]. - Net profit decreased by approximately RMB 4.9 million or about 24.4% to approximately RMB 15.2 million for the year ending December 31, 2025[80]. Assets and Liabilities - Non-current assets increased to RMB 97.28 million as of December 31, 2025, compared to RMB 37.29 million in the previous year, showing a significant growth of 160.5%[6]. - Current assets decreased to RMB 233.55 million as of December 31, 2025, down from RMB 288.03 million, a reduction of 19%[6]. - The total liabilities decreased to RMB 115.14 million as of December 31, 2025, compared to RMB 123.92 million in the previous year, reflecting a decrease of 7%[6]. - The company's equity attributable to equity holders increased to RMB 214.80 million as of December 31, 2025, up from RMB 200.37 million, representing a growth of 7.2%[7]. Revenue Breakdown - Revenue from wireless telecom network optimization services decreased by approximately RMB 12.4 million or 16.2% to RMB 64.1 million for the year ended December 31, 2025, primarily due to increased market competition leading to price declines[63]. - Revenue from telecom network infrastructure maintenance and engineering services increased by approximately RMB 27.5 million or 93.9% to RMB 56.8 million for the year ended December 31, 2025, driven by ongoing maintenance needs from the large-scale deployment of new infrastructure such as 5G[64]. - Revenue from ICT integration services decreased by approximately RMB 61.4 million or 42.5% to RMB 83.1 million for the year ended December 31, 2025, due to reduced IT budgets from government and corporate clients leading to delays or cancellations of large integration projects[65]. - Revenue from software and hardware-related businesses decreased by approximately RMB 13.4 million or 48.0% to RMB 14.5 million for the year ended December 31, 2025, mainly due to a decline in the number of customized development projects and a slowdown in demand for digital transformation[66]. Dividends and Share Capital - The company did not recommend the payment of a final dividend for the year ending December 31, 2025, consistent with the previous year[3]. - The company’s issued and paid-up share capital increased to 1,000,000,000 shares with a par value of HKD 0.005 per share as of December 31, 2025, from 500,000,000 shares with a par value of HKD 0.01 per share in 2024[39]. - The company plans to split its shares into four for each existing share, pending shareholder approval[47]. Strategic Initiatives - The company has commenced operations in the fintech sector during the reporting year, indicating a strategic expansion into new business areas[8]. - The company launched its fintech business segment with the introduction of the Fopay payment platform on July 21, 2025, which offers stablecoin custody and virtual VISA prepaid cards[56]. - The company aims to explore new investment and business opportunities to achieve sustainable growth and long-term returns for shareholders, including expanding Fopay services to local users in other jurisdictions[59]. - The company will increase R&D efforts focusing on high-value areas, including the integration of artificial intelligence (AI) elements into its core business[58]. Costs and Expenses - Employee benefits expenses decreased by approximately RMB 0.9 million or about 4.6% to approximately RMB 18.5 million for the year ending December 31, 2025[70]. - Subcontracting costs decreased by approximately RMB 21.5 million or about 11.5% to RMB 165.4 million for the year ending December 31, 2025[71]. - Costs of materials, supplies, and other items decreased by approximately RMB 17.9 million or 51.7% to approximately RMB 16.7 million for the year ending December 31, 2025[72]. - Depreciation and amortization expenses increased by approximately RMB 4.5 million or about 145.2% to RMB 7.6 million for the year ending December 31, 2025[73]. Governance and Compliance - The board of directors has implemented a governance structure to ensure compliance with corporate governance codes, with recent changes separating the roles of Chairman and CEO[102]. - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the year ending December 31, 2025, confirming compliance with accounting standards and sufficient disclosure[105]. - The company has adopted a standard code for securities trading by directors, ensuring compliance throughout the year ending December 31, 2025[110]. Future Outlook - The company expects continued pressure on profit margins and cash flow due to market saturation and competition in the telecom industry, and will adopt a prudent strategy to enhance cost control and operational efficiency[58]. - The company plans to strengthen its project management team to support anticipated business growth, allocating 19.8% of the net proceeds (approximately RMB 11.1 million) for this purpose by the end of 2026[100].

Financial Performance - The total revenue for the year ended December 31, 2025, was HKD 36,518,000, a decrease of 28% compared to HKD 50,676,000 in 2024[4] - Gross profit for the year was HKD 22,631,000, down from HKD 28,905,000, reflecting a gross margin decline[4] - The net profit for the year increased to HKD 37,998,000, compared to HKD 32,045,000 in the previous year, representing a growth of 18%[4] - Earnings per share rose to HKD 0.93, up from HKD 0.79, indicating a 17.7% increase[4] - The fair value gain from investment properties was HKD 21,727,000, slightly lower than HKD 23,813,000 in 2024[4] - The net profit for 2025 was HKD 25,419,000, down 52% from HKD 53,339,000 in 2024[23] - Other income and net gains for the year ended December 31, 2025, were approximately HKD 25.4 million, a decrease of about 52.3% from HKD 53.3 million in 2024[53] - Profit after tax for the year ended December 31, 2025, was approximately HKD 38.0 million, an increase of about 18.8% from HKD 32.0 million in 2024[56] Assets and Liabilities - Total assets decreased to HKD 1,015,767,000 from HKD 688,295,000, while total liabilities increased to HKD 361,520,000 from HKD 158,342,000[6][7] - The total assets for the reportable segments increased to HKD 1,264,792,000 in 2025 from HKD 1,149,597,000 in 2024, reflecting a growth of approximately 10%[14] - The total liabilities for the reportable segments rose to HKD 459,503,000 in 2025, compared to HKD 366,576,000 in 2024, indicating an increase of about 25%[14] - The total value of non-current assets as of December 31, 2025, was approximately HKD 799.8 million, a decrease from HKD 980.4 million in 2024[62] - Total liabilities as of December 31, 2025, were approximately HKD 567.3 million, an increase from HKD 467.3 million in 2024[62] - The net asset value as of December 31, 2025, was approximately HKD 1,248.2 million, an increase from HKD 1,201.4 million in 2024[62] Revenue Segmentation - Revenue from health and medical-related products increased to HKD 9,418,000 in 2025, up 25% from HKD 7,516,000 in 2024[19] - Rental income rose to HKD 19,202,000 in 2025, compared to HKD 17,239,000 in 2024, reflecting an increase of 11%[19] - Revenue from healthcare-related business for the year ended December 31, 2025, was approximately HKD 16.1 million, a decrease of about 17.9% from HKD 19.6 million in 2024[57] - Revenue from property-related business for the year ended December 31, 2025, was approximately HKD 19.2 million, an increase of about 11.6% from HKD 17.2 million in 2024[60] - Trade business revenue for the year ended December 31, 2025, was approximately HKD 1.2 million, a decrease of about 91.3% from HKD 13.8 million in 2024[59] Investments and Development - The company reported a significant increase in development properties held for sale, rising to HKD 373,072,000 from HKD 255,086,000[6] - Non-current assets, particularly investment properties, increased to HKD 663,388,000 from HKD 610,292,000, indicating ongoing investment in real estate[6] - The company reported a fair value gain of HKD 21,727,000 from investment properties for the fiscal year ending December 31, 2025[15] - The company reported a significant increase in capitalized expenditures for properties under development, rising to HKD 92,596,000 in 2025 from HKD 18,755,000 in 2024[26] Strategic Focus - The company continues to focus on health and medical-related businesses, construction materials, and renewable energy products, indicating a strategic emphasis on these sectors[8] - The company aims to transition from a "provider of health products" to an "exporter of health concepts," leveraging technological innovation and brand value accumulation[36] - The company is focusing on collaborative innovation in cell therapy and health management, responding to the aging population and increasing health consciousness[36] - The company is committed to the "Healthy China 2030" initiative, aligning its strategies with national health goals[108] Corporate Governance and Compliance - The company is committed to good corporate governance practices, having adopted the principles of the Corporate Governance Code as outlined in the listing rules[99] - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2025, including the accounting principles adopted by the group[101] - The company has confirmed compliance with the standard code of conduct for securities transactions by all directors for the year ending December 31, 2025[100] Employee and Shareholder Matters - As of December 31, 2025, the group had approximately 42 employees, a decrease from 46 employees in 2024, with employee costs amounting to approximately HKD 12.5 million, down from HKD 13.7 million in 2024[92] - The company declared an interim dividend of HKD 0.15 per share for 2025, compared to no dividend in 2024[24] - The proposed final dividend for the year ending December 31, 2025, is HKD 0.4 per share, consistent with the previous year, pending shareholder approval at the 2026 annual general meeting[95] Market Trends and Future Outlook - The health industry in China is projected to exceed RMB 8 trillion by 2025 and reach RMB 16 trillion by 2030, driven by policies and demographic changes[35] - The company anticipates a shift towards high-quality innovation in the health sector, supported by government policies and market demand[36] - In 2024, the global cell and gene therapy market is projected to reach $21.28 billion, increasing to $25.03 billion in 2025 and approximately $117.46 billion by 2034, with a compound annual growth rate (CAGR) of 18.7%[38]

Financial Performance - The total revenue for the year ended December 31, 2025, was HKD 72,055,000, a decrease of 20.4% from HKD 90,617,000 in 2024[3] - Gross profit for the same period was HKD 41,916,000, down 27.3% from HKD 57,654,000 in the previous year[3] - Operating profit decreased to HKD 16,392,000 from HKD 18,884,000, reflecting a decline of 13.2%[3] - The net profit attributable to shareholders increased significantly to HKD 27,525,000, compared to HKD 17,752,000 in 2024, marking a growth of 55.5%[3] - Basic and diluted earnings per share rose to HKD 9.05 from HKD 5.83, an increase of 55.5%[3] - The group reported a pre-tax profit of HKD 15,189,000 for the year ending December 31, 2025, down from HKD 17,752,000 in 2024[29] - The company achieved a net profit of approximately HKD 27,530,000 for the year, an increase from HKD 17,750,000 in 2024, mainly due to the absence of a one-time loss from the modification of other receivables[41] Assets and Liabilities - Total assets as of December 31, 2025, amounted to HKD 168,059,000, up from HKD 135,709,000 in 2024, representing a growth of 23.7%[5] - Total liabilities rose to HKD 114,585,000 in 2025, compared to HKD 110,512,000 in 2024, with segment liabilities for aesthetic medical and beauty services at HKD 44,659,000[23] - The company reported a net current asset position of HKD 10,812,000, compared to a net current liability of HKD 557,000 in the previous year[9] - Cash and bank balances stood at approximately HKD 8,170,000 as of December 31, 2025, down from HKD 22,700,000 in 2024[43] - The current ratio was 1.14 as of December 31, 2025, compared to a net current liability situation with a ratio of 0.99 in 2024[44] - The group’s current assets net value was approximately HKD 10,812,000 as of December 31, 2025, with cash and cash equivalents of about HKD 8,169,000[61] Revenue Streams - Revenue from aesthetic medical and beauty services was HKD 56,099,000, down from HKD 82,004,000, representing a decline of 31.7%[18] - The group reported a significant increase in revenue from medical services, rising to HKD 8,015,000 from HKD 5,263,000, an increase of 52.5%[18] - Health product trading generated revenue of HKD 6,255,000, marking a new revenue stream for the group[18] - Total revenue for the year ending December 31, 2025, is projected to be HKD 72,055,000, with aesthetic medical and beauty services contributing HKD 64,040,000 and medical services contributing HKD 8,015,000[22] Shareholder Information - Major shareholder Mr. Wang Chuang has confirmed financial support for the group until June 30, 2027, to meet its obligations without significantly reducing operations[12] - The group did not declare or propose any dividends for the reporting periods, maintaining a focus on reinvestment[30] - The board does not recommend any dividend for the year ending December 31, 2025, consistent with the previous year[57] Corporate Governance - The company has complied with all provisions of the corporate governance code, except for the separation of roles between the Chairman and CEO, which are held by the same individual[54] - The audit committee, composed entirely of independent non-executive directors, reviewed the group's performance for the year ending December 31, 2025[56] Future Outlook and Strategy - The company plans to continue expanding its business in the healthcare sector and will reallocate resources as necessary to maintain its leading position in health products and services[40] - The group plans to accelerate the collection of trade receivables to generate operational cash inflow while implementing cost control measures to reduce cash outflow[12] Compliance and Reporting - The independent auditor's report confirms that the consolidated financial statements reflect the group's financial position accurately as of December 31, 2025[60] - The annual report for the year ending December 31, 2025, will be made available to shareholders in accordance with GEM listing rules[62] Risks and Uncertainties - The group faces significant uncertainty regarding its ability to continue as a going concern due to reliance on the timely collection of other receivables[61]

Financial Performance - For the fiscal year ending December 31, 2025, total revenue decreased by 9% to RMB 6,057,340,000 compared to RMB 6,693,118,000 in 2024[3] - Net profit dropped significantly by 73% to RMB 55,002,000 from RMB 204,209,000 in the previous year[3] - The gross profit margin decreased to 12.5%, down from 14.5% in 2024, reflecting a 2.0 percentage point decline[3] - The total revenue for 2025 decreased by approximately 9% year-on-year to RMB 6,057.3 million, with semiconductor solutions business declining by 16% and automotive electronics business increasing by 13%[11] - The gross profit for the year was RMB 755.4 million, with a gross margin of 12.5%, down 2.0 percentage points from the previous year due to intense market competition and structural adjustments in the semiconductor solutions business[11] - The net profit attributable to shareholders for 2025 was RMB 57.9 million, resulting in a net profit margin of 0.9%[12] - The net profit for the year dropped 73% to RMB 55.0 million, down from RMB 204.2 million in 2024, due to decreased revenue and lower gross margins[47] - Total comprehensive income for 2025 was RMB 66,267, a decrease of 66.9% from RMB 200,584 in 2024[72] Revenue Segmentation - The automotive segment revenue fell by 21% to RMB 3,895,604,000, while cloud server revenue surged by 120% to RMB 467,818,000[3] - The automotive electronics segment showed growth, with revenue increasing by 13% to RMB 1,602,058,000, indicating a stable customer base and delivery capability[3] - The automotive-related solutions segment reported revenue of RMB 3,895.6 million, representing 64.3% of total revenue, with a year-on-year decline of 21% due to industry cycles and profitability pressures on downstream automakers[16] - The cloud server segment within the semiconductor solutions business saw a significant revenue increase of 120% year-on-year to RMB 467.8 million, accounting for 7.7% of total revenue[17] - The new energy power system segment generated revenue of RMB 832.6 million, representing 13.7% of total revenue, with a year-on-year increase of 25%[21] - The thermal management segment achieved revenue of RMB 549.4 million, accounting for 9.1% of total revenue, with a year-on-year growth of 5%[24] - The intelligent driving and networking segment reported revenue of RMB 137.1 million, which is 2.3% of total revenue, with a year-on-year increase of 3%[25] Research and Development - Research and development costs accounted for 8.4% of total revenue, up from 7.4% in 2024, highlighting the company's commitment to innovation[3] - The company maintained R&D expenses at 8.4% of total revenue, amounting to RMB 508.6 million, to support product innovation and market leadership[11] - Research and development expenses for 2025 totaled RMB 508,633 thousand, compared to RMB 493,124 thousand in 2024, indicating an increase of approximately 3.1%[84] - The company has 1,062 full-time R&D personnel, accounting for 71.7% of total employees, and holds 426 patents and 369 software copyrights[28] Market Outlook - The Chinese automotive market is projected to grow, with total vehicle sales expected to reach 34.4 million units, a 9.4% year-on-year increase[6] - The company aims for long-term, stable growth through a clear strategic focus on semiconductor solutions and product capabilities[8] - The group expects challenges in the domestic new energy vehicle market in 2026 due to the reduction of purchase tax exemptions, but anticipates revenue growth from automotive electronics products[34] Corporate Governance and Compliance - The company proposed a final dividend of HKD 1.82 per share for the year ended December 31, 2025, down from HKD 6.3 per share in 2024, pending approval at the 2026 Annual General Meeting[66] - The company has maintained a public float of at least 25% of its issued share capital, in compliance with listing rules[69] - The audit committee, composed of three independent non-executive directors, reviewed the group's accounting principles and policies for the year ended December 31, 2025[63] - The company has adopted the corporate governance code as per the listing rules and believes it has complied with all applicable provisions during the year[58] Employee and Operational Metrics - The group delivered 10.49 million automotive electronic products in 2025, representing a 36% year-on-year growth, with a low zero-kilometer failure rate of 11 PPM[32] - The company has added over 162 new production points in 2025, with 25 being overseas projects, covering various fields and technology directions[36] - As of December 31, 2025, the group employed 1,481 employees, an increase from 1,308 employees as of December 31, 2024[56] - The total employee cost amounted to RMB 582.4 million, representing 9.6% of the group's revenue for the year, compared to RMB 584.9 million in 2024[56] Financial Position and Cash Flow - Cash and cash equivalents as of December 31, 2025, totaled RMB 489.6 million, down from RMB 916.2 million in 2024, with net current assets at RMB 1,624.2 million[48] - The company's cash and cash equivalents decreased to RMB 489,569 from RMB 916,208 in 2024, a decline of 46.6%[73] - The company's total liabilities decreased to RMB 3,222,122 in 2025 from RMB 3,629,007 in 2024, a reduction of 11.2%[74] - Trade receivables decreased to RMB 2,097,104,000 in 2025 from RMB 2,352,870,000 in 2024, reflecting a reduction of 10.8%[94] - Trade payables increased to RMB 740,203,000 in 2025 from RMB 574,947,000 in 2024, an increase of 28.8%[96]

Financial Performance - The group's revenue for the year ended December 31, 2025, was approximately RMB 779 million, a decrease of about 1.3% compared to RMB 789 million in the same period last year[2]. - Revenue from property management services was approximately RMB 687 million, accounting for about 88.2% of total revenue, an increase of approximately 2.4% from RMB 671 million in the same period last year[2]. - Gross profit was approximately RMB 142 million, an increase of approximately 108.8% compared to RMB 68 million in the same period last year, with a gross profit margin of 18.2%, up approximately 9.6 percentage points from 8.6%[3]. - The company achieved a turnaround with a net profit of approximately RMB 22 million for the year, compared to a loss of approximately RMB 319 million in the same period last year, showing significant improvement[5]. - Total revenue for the year 2025 reached RMB 21,720 million, compared to a loss of RMB 319,353 million in the previous year[6]. - Basic earnings per share for the year were RMB 0.060, a significant improvement from a loss of RMB 0.831 per share in the previous year[6]. Assets and Liabilities - The total assets of the company increased to RMB 903,324 million in 2025, up from RMB 842,042 million in 2024, reflecting a growth of approximately 7.3%[7]. - Trade receivables rose to RMB 197,017 million, an increase of 11.0% from RMB 176,495 million in the previous year[7]. - Cash and cash equivalents increased to RMB 335,256 million, compared to RMB 293,739 million in 2024, indicating a growth of approximately 14.1%[7]. - The company's total liabilities as of December 31, 2025, amounted to approximately RMB 903.324 million, with a net current liability of about RMB 307.91 million[15]. - The company's equity attributable to owners showed a deficit of approximately RMB 31.84 million as of the same date[15]. - The company reported a total debt of RMB 897.238 million, indicating a significant financial obligation[15]. Financial Management and Reporting - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and relevant regulations[12]. - The group must adjust its consolidated financial statements if it cannot continue as a going concern, reflecting asset values to their recoverable amounts and making provisions for any potential liabilities[16]. - The group anticipates that newly issued accounting standards will not have a significant impact on the consolidated financial statements for the current or future reporting periods[18]. - The new Hong Kong Financial Reporting Standard No. 18 will replace the previous standard and introduce new presentation requirements in the income statement and disclosures in the financial statement notes[19]. - The group is currently assessing the detailed impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements[20]. Revenue Breakdown - Revenue from community value-added services revenue increased to RMB 24,591,000 in 2025 from RMB 18,382,000 in 2024, representing a growth of approximately 34.5%[28]. - The overall revenue from apartment operation and management services decreased to RMB 14,800,000 in 2025 from RMB 26,226,000 in 2024, showing a decline of approximately 43.5%[28]. - Revenue from non-owner value-added services decreased by approximately 50.0% from about RMB 24 million in 2024 to about RMB 12 million in 2025[79]. - Revenue from community value-added services decreased by approximately 4.4% from about RMB 68 million in 2024 to about RMB 65 million in 2025[80]. - The revenue from the sale of properties, plants, and equipment was RMB 876,000 in 2025, while it recorded a loss of RMB (164,000) in 2024[30]. Operational Highlights - The company managed a total property management area of approximately 33.45 million square meters as of December 31, 2025, with 2.87 million square meters consolidated under management[48]. - The company provided property management services across 33 cities, including 24 cities in the Yangtze River Delta region[48]. - The company continues to expand its non-residential property portfolio while enhancing value-added services for non-owners[49]. - The company aims to improve customer satisfaction and loyalty through community value-added services[49]. - The company has not declared or proposed any dividends for the fiscal year ending December 31, 2025[46]. Employee and Community Engagement - The group organized 16 employee training sessions with 2,306 participants to enhance professional capabilities and service levels, ensuring stable and high-quality community cultural work[70]. - The group has launched the "Qing He Growth Scholarship" program, supporting 20 students and donating 14 boxes of clothing to the local school[75]. - The community participated in a green initiative where residents walked a total of 32 million steps, resulting in the donation of 22,323 eggs to the local school[75]. - The group continues to integrate green concepts and community development into its operations, promoting sustainable practices through various initiatives[76]. - The group aims to enhance its ESG performance by implementing various social responsibility initiatives and promoting a green lifestyle within the community[76]. Future Outlook - The group plans to deepen its digital strategy and embrace AI technologies to enhance customer service systems and solidify its market leadership position[73]. - The group is currently assessing the detailed impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements[20]. - The company continues to enhance its online platform capabilities, expanding product categories and improving supply chain management[66].

（於開曼群島註冊成立之有限公司） （股份代號：08123） 截至二零二五年十二月三十一日止年度之 全年業績公佈 華億金控集團有限公司 SINOFORTUNE FINANCIAL HOLDINGS LIMITED 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公佈之內容概不負責、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公佈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。 本公佈的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關華億 金控集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）的資料；本公司之董事（「董事」） 願就本公佈的資料共同及個別地承擔全部 ...