香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致 之任何損失承擔任何責任。 Qingdao Port International Co., Ltd. 青島港國際股份有限公司 ( 於中華人民共和國成立的股份有限公司 ) (股份代號：06198) 截至2025年12月31日止之年度業績公告 財務摘要 截至2025年12月31日止年度，本公司： 董事會欣然宣佈本公司及其附屬公司截至2025年12月31日止合併全年業績。該年度業績 已經由審計委員會審閱。 1 實現利潤總額人民幣71.29億元，較上年同期增加0.9%； 歸屬於母公司股東的淨利潤為人民幣52.72億元，較上年同期增加0.7%；及 綜合毛利率為36.7%，較上年同期增加1.2個百分點。 合併資產負債表 2025 年 12 月 31 日 (除特別註明外，金額單位為人民幣元) | 資產 | 附註 | 2025 年 12 月 | 31 日 | 2024 | 年 12 月 31 日 | | --- | --- | --- | --- ...

Financial Performance - Revenue for the year ended December 31, 2025, reached RMB 7,725,363, representing a 69.8% increase compared to RMB 4,549,406 for the year ended December 31, 2024[2]. - Gross profit for the same period was RMB 375,256, reflecting a 91.1% increase from RMB 196,319 in the previous year[4]. - Net profit for the year was RMB 139,429, which is a 111.3% increase compared to RMB 65,979 in the prior year[5]. - Basic earnings per share for the year was RMB 6.65, up 111.1% from RMB 3.15 in the previous year[4]. - Total comprehensive income for the year amounted to RMB 146,947, compared to RMB 59,632 in the previous year[5]. - Revenue for the fiscal year ending December 31, 2025, reached RMB 7,725,363,000, a significant increase from RMB 4,549,406,000 in 2024, representing a growth of approximately 70%[30]. - The pre-tax profit from continuing operations for the year 2025 was RMB 7,350,107,000, compared to RMB 4,353,087,000 in 2024, representing a significant increase[34]. - Other income for 2025 totaled RMB 103,864,000, compared to RMB 83,075,000 in 2024, reflecting an increase of about 25%[33]. - The total tax expense for the year 2025 was RMB 7,082,000, compared to RMB 1,523,000 in 2024, showing a significant increase in tax obligations[37]. - The company reported a net loss from foreign exchange of RMB 14,221,000 in 2025, compared to RMB 863,000 in 2024, indicating increased exposure to currency fluctuations[34]. - The company’s service revenue for 2025 was RMB 62,896,000, while industrial product sales were RMB 7,662,467,000, indicating a strong focus on product sales[30]. - The company reported a substantial increase in sales to related parties, with revenue from such sales amounting to RMB 4,952,675,000 in 2025, up from RMB 2,003,959,000 in 2024, indicating a growth of approximately 147%[29]. Assets and Liabilities - Non-current assets totaled RMB 1,078,911, an increase from RMB 1,021,849 in the previous year[6]. - Current assets increased to RMB 3,087,011 from RMB 2,507,979 in the previous year[6]. - Current liabilities rose to RMB 2,935,988, compared to RMB 2,445,762 in the previous year[6]. - Net assets increased to RMB 1,223,892 from RMB 1,070,629 in the previous year[7]. - The total amount of accounts payable rose to RMB 2,529,606,000 in 2025 from RMB 1,836,106,000 in 2024, representing a 37.8% increase[45]. - The company’s inventory increased to RMB 387,170,000 in 2025 from RMB 325,988,000 in 2024, reflecting a 18.7% increase[41]. - The company recognized contract liabilities of RMB 245,623,000 at the beginning of the reporting period for 2025, compared to RMB 39,056,000 in 2024, showing a significant rise in deferred revenue[31]. - Trade receivables increased to RMB 1,617,748,000 in 2025 from RMB 1,051,329,000 in 2024, marking a 53.8% rise[41]. - The expected credit loss rate for trade receivables was 0.07% in 2025, slightly down from 0.08% in 2024, indicating improved credit risk management[44]. Market and Sales Performance - Sales in mainland China accounted for RMB 6,194,561,000, which is 80.2% of total revenue for 2025, compared to RMB 4,285,556,000 in 2024[26]. - Total sales volume reached 89.1 million units, representing a year-on-year growth of 80.6%[49]. - Smartphone module sales grew by 72.3% to 63.1 million units, generating revenue of RMB 2,998.8 million[50]. - Tablet module sales surged by 167.2% to 13.8 million units, with revenue reaching RMB 2,353.6 million[50]. - Commercial display product sales increased over fourfold to 6.0 million units, contributing RMB 1,769.5 million in revenue[50]. - Revenue from mainland China was RMB 6,194.6 million, accounting for 80.2% of total revenue, with a year-on-year increase of 44.5%[54]. - Revenue from Hong Kong skyrocketed by 480.7% to RMB 1,530.8 million, representing 19.8% of total revenue[54]. - The average selling price of products declined by 7.0% to RMB 90.5 due to market competition and product mix changes[49]. Accounting Standards and Compliance - The group has adopted the revised Hong Kong Accounting Standard No. 21 for the first time this year, which clarifies how to assess the exchangeability of currencies[13]. - The revisions to the Hong Kong Financial Reporting Standards are expected to have no significant impact on the group's financial statements due to the exchangeability of currencies involved in business transactions[13][20]. - The group is currently analyzing and assessing the impact of the new regulations introduced by Hong Kong Financial Reporting Standard No. 18 on the preparation and disclosure of its financial statements[17]. - The revisions to the Hong Kong Financial Reporting Standards No. 9 and No. 7 clarify the derecognition date of financial assets or liabilities and introduce accounting policy choices for certain financial liabilities settled through electronic payment systems[20]. - The group has not adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[14]. - The group is considering the application of the revised Hong Kong Financial Reporting Standard No. 19 by certain subsidiaries for their specific financial statements[18]. - The revisions to the Hong Kong Financial Reporting Standards No. 9 and No. 7 are expected to have no significant impact on the group's financial statements[21]. - The new regulations require entities to classify all income and expenses in the income statement into five categories, enhancing the disclosure requirements[17]. - The group has not experienced any impact from the revisions to the accounting standards regarding the exchangeability of currencies, as all currencies involved are exchangeable[13][20]. - The group is preparing for the implementation of the new accounting standards that will take effect in 2027, allowing for early application[17]. Corporate Governance and Future Outlook - The company has complied with the corporate governance code, with some deviations noted regarding the company secretary's employment status[77]. - The audit committee has reviewed the group's annual performance for the year ending December 31, 2025, ensuring alignment with accounting principles[79]. - The company has adopted a code of conduct for directors' securities transactions, confirming compliance for the year ending December 31, 2025[78]. - The company will hold its annual general meeting on May 28, 2026, with a record date for shareholders set for May 28, 2026[76]. - The company aims to enhance product competitiveness through technological innovation and process upgrades to meet growth demands in various market segments[56]. - The group anticipates a challenging environment for the panel industry due to a contraction in downstream procurement plans and weak overall demand for smart device panels[55]. - The education tablet market is expected to continue strong growth driven by digital education transformation and smart trends[55]. - The company is focused on horizontal business expansion and diversifying its product offerings to attract new customers in different markets[70]. - The company benefits from a stable supply of materials from TCL Huaxing since the launch of its display panel production line "t9" in September 2022[72]. - The company has implemented a multi-source procurement policy and strategic inventory management to ensure sufficient supply of production materials[72]. - The largest customer accounted for approximately 23% of the group's revenue, while the top five customers represented about 77%[69]. - The largest supplier contributed approximately 24% to the group's procurement, with the top five suppliers accounting for about 55%[69]. - The board does not recommend any final dividend for the year ending December 31, 2025, consistent with the previous year[38].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，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告全部或任何部分內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：03328） 截至2025年12月31日止年度業績公告 交通銀行股份有限公司（「本行」）董事會（「董事會」）欣然宣佈本行及其附屬公司 （「本集團」）截至2025年12月31日止年度（「報告期」），根據國際會計準則委員會 頒佈的《國際財務報告準則》編製的年度經審計合併財務信息（「年度業績」）。董事 會及其轄下的審計委員會已審閱並確認此年度業績。 一、公司基本情況 | | 股份簡稱 | 股份代號 | 上市交易所 | | --- | --- | --- | --- | | A股 | 交通銀行 | 601328 | 上海證券交易所 | | H股 | 交通銀行 | 03328 | 香港聯合交易所有限公司 | | 境內優先股 | 交行優1 | 360021 | 上海證券交易所 | 董事會秘書、公司秘書 | 姓名 | 何兆斌 | | --- | --- | | 聯 ...

Financial Performance - The company's revenue for the year ended December 31, 2025, was HKD 6,087.6 million, a decrease of 5.6% compared to HKD 6,450.1 million in 2024[3] - The gross profit for 2025 was HKD 997.8 million, slightly down from HKD 1,002.3 million in 2024, reflecting a gross margin of approximately 16.4%[5] - The profit attributable to the company's owners increased to HKD 167.0 million in 2025, up from HKD 135.3 million in 2024, representing a growth of 23.4%[3] - Basic earnings per share rose to HKD 0.12, compared to HKD 0.10 in the previous year, marking a 20% increase[6] - The total comprehensive income for the year was HKD 188.4 million, compared to HKD 110.2 million in 2024, indicating a substantial increase of 70.8%[5] - The company reported a pre-tax profit of HKD 211,121 for 2025, compared to HKD 171,393 for 2024, marking an increase of approximately 23.1%[23][24] - The company reported a net profit of HKD 167,041,000 for 2025, an increase of 23.5% compared to HKD 135,265,000 in 2024[37] Revenue Breakdown - Revenue from contracting works was HKD 4,753,294,000 in 2025, down from HKD 5,080,980,000 in 2024, representing a decline of 6.43%[18] - Maintenance works revenue remained stable at HKD 1,228,537,000 in 2025, slightly down from HKD 1,230,123,000 in 2024[18] - Sales of goods decreased to HKD 105,810,000 in 2025 from HKD 139,041,000 in 2024, a decline of 24.00%[18] - The revenue breakdown for 2025 includes HKD 4,753,294 from contracting services, HKD 1,228,537 from maintenance services, and HKD 105,810 from sales of goods[23] - For the fiscal year 2025, total revenue was HKD 6,087.6 million, a decrease from HKD 6,450.1 million in 2024, with contracting engineering contributing 78.1% of total revenue[78] Assets and Liabilities - Non-current assets decreased to HKD 1,445.2 million from HKD 1,500.6 million in 2024, primarily due to changes in investment properties[7] - Current assets totaled HKD 3,719.5 million, slightly up from HKD 3,699.4 million in 2024, with trade receivables increasing to HKD 1,022.5 million[7] - The company's total equity attributable to owners increased to HKD 2,322.1 million from HKD 2,193.7 million in 2024, reflecting a growth of 5.9%[8] - The total value of trade payables increased to HKD 429,147,000 in 2025 from HKD 392,838,000 in 2024[50] - The company's current assets increased to HKD 3,719.5 million in 2025 from HKD 3,699.4 million in 2024, while current liabilities decreased to HKD 2,571.7 million from HKD 2,632.6 million[95] Dividends - The company declared a second interim dividend of HKD 0.029 per share, totaling approximately HKD 40.6 million, contributing to a total dividend of HKD 0.055 per share for the year[3] - The company declared an interim dividend of HKD 0.029 per share for 2025, totaling approximately HKD 40,566,000, compared to HKD 27,977,000 for the previous year[36] - The board has approved a second interim dividend of HKD 0.029 per share for the year ending December 31, 2025, to be paid on April 29, 2026[106] Market Expansion and Opportunities - The company plans to continue expanding its services in the HVAC, fire protection, and environmental engineering sectors, focusing on innovative solutions and technology integration[22] - The company has identified opportunities for market expansion in regions including the UK and the US, aiming to enhance its global footprint[28] - The company aims to expand its operations in mainland China and the Middle East while exploring opportunities in the European market[62] - The company plans to expand advanced solutions to meet emerging environmental and climate-related demands, leveraging rapid technological advancements[104] Operational Developments - The company has fully operationalized its smart headquarters, enhancing collaboration and innovation through advanced digital infrastructure and technology integration[56] - The company is actively developing solutions in collaboration with top universities and technology partners, focusing on digital technology, AI, IoT, and renewable energy[57] - The company is restructuring its mechanical handling and lifting solutions department to cover a broader range of mechanical systems and lifting applications[72] - The company plans to fully implement a new enterprise resource planning and performance management platform by 2026 to enhance operational efficiency and data transparency[73] Employee and Community Engagement - The company has established a comprehensive goal-setting and performance evaluation framework, supported by a competitive compensation and reward system to attract and retain top talent[99] - Over 1,300 young engineers and technicians have been nurtured through systematic training and mentorship programs, with more than 130 youths currently participating in training programs that cover seven disciplines[100] - The company completed over 1,100 hours of community service in 2025, demonstrating its long-term commitment to social contribution[102] Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as its corporate governance standard, complying with all applicable code provisions for the year ending December 31, 2025[108] - The audit committee, consisting of two independent non-executive directors and one non-executive director, has reviewed the audited consolidated financial statements for the year ending December 31, 2025[109] - No purchases, sales, or redemptions of the company's listed securities were made by the company or any of its subsidiaries for the year ending December 31, 2025[110] Future Outlook - The Hong Kong construction industry is expected to maintain strong public sector activity, with government capital works budget projected between HKD 90 billion to HKD 120 billion[103] - The company achieved a record high in the number of contracts on hand, which will contribute to revenue in the coming years[103] - The group plans to cautiously seek new business and investment opportunities, aiming to fully utilize the net proceeds from its 2019 global offering of approximately HKD 335.7 million by December 31, 2027[87]

Financial Performance - Net interest income for 2025 was RMB 635.126 billion, a slight decrease of 0.4% from RMB 637.405 billion in 2024[7] - Total operating income for 2025 reached RMB 801.395 billion, up by 1.6% compared to RMB 786.126 billion in 2024[7] - Net profit attributable to shareholders for 2025 was RMB 368.562 billion, reflecting an increase of 0.5% from RMB 365.863 billion in 2024[7] - Total operating income for 2025 was CNY 801.40 billion, reflecting a growth of 1.9% from CNY 786.13 billion in 2024[23] - Non-interest income rose to CNY 166.27 billion, marking an increase of 11.8% year-over-year[23] - The average return on total assets was 0.72%, while the weighted average return on equity was 9.45%[22] - Pre-tax profit was CNY 424,435 million, slightly increasing from CNY 421,827 million in the previous year[125] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 53.478 trillion, representing a growth of 9.4% from RMB 48.822 trillion in 2024[7] - Total assets reached RMB 53.48 trillion, an increase of 9.5% year-on-year[14] - Total liabilities as of December 31, 2025, were CNY 49,205.749 billion, an increase of CNY 43,712.69 billion, reflecting a growth of 9.7%[102] - Customer deposits accounted for 75.8% of total liabilities, amounting to CNY 37,311.778 billion[107] - The cash and deposits with the central bank reached RMB 3,674.56 billion, an increase of RMB 351.65 billion, or 10.6%[55] Loans and Advances - Customer loans and advances totaled RMB 30.506 trillion, an increase of 7.5% from RMB 28.372 trillion in 2024[7] - The average balance of customer loans and advances was CNY 29.87 trillion, with an average yield of 2.81%[31] - Loans to the manufacturing sector grew by 19.4%, while loans for technology innovation increased by 19.9%[15] - Personal loans increased by RMB 449.16 billion, a growth of 0.5%, with personal consumption loans rising by RMB 778.19 billion, or 18.5%[67] - Corporate loans increased by RMB 13,594.48 billion, a growth of 7.8%, with short-term loans up by RMB 4,606.29 billion[66] Non-Performing Loans and Credit Quality - The non-performing loan ratio improved to 1.31% in 2025, down from 1.34% in 2024[8] - Non-performing loan ratio improved to 1.31%, down by 3 basis points, with a provision coverage ratio of 213.60%[18] - The total amount of overdue loans was CNY 462.73 billion, an increase of CNY 55.99 billion compared to the previous year[81] - The provision coverage ratio stood at 213.60%, down by 1.31 percentage points from the previous year[79] - Credit impairment losses increased to CNY 132.97 billion, up CNY 7.23 billion or 5.8%, with loan impairment losses rising by 22.2% to CNY 149.62 billion[48] Investment and Financial Strategy - The company aims to enhance its global operations and comprehensive services to drive growth amid low interest margins[16] - The bank's strategy focuses on optimizing asset-liability management and supporting high-quality economic development through diversified funding sources[53] - The company plans to anchor its goals towards sustainable financial development by 2026, focusing on high-quality service delivery[21] - The company is focusing on expanding its investment in high-end manufacturing, technology innovation, and green development to support the modern economic system[146] Customer Engagement and Services - The company aims to improve the coverage, accessibility, and satisfaction of inclusive financial services for small and micro enterprises[129] - The company launched a comprehensive financial solution (CFS) system to enhance service capabilities in a systematic, digital, and professional manner[128] - The bank's digital economy core industry loan balance exceeded CNY 1 trillion by the end of 2025, with a leading number of active mobile banking users[122] - The company has established over 1,200 customer labels and quantitative models to enhance customer insights and data integration[147] Digital Transformation and Technology - The company aims for digital business to account for 99% by 2025, maintaining its position as the "Best Consumer Digital Bank" and "Best Corporate Digital Bank" in China according to Global Finance[174] - The AI digital workforce is expected to handle a workload equivalent to 55,000 full-time employees, with over 500 application scenarios across 30 business areas[169] - The company has upgraded its digital RMB framework, transitioning to a digital deposit currency era, and has implemented local payment capabilities in 44 countries through "ICBC Global Payment"[170] - The company has launched the "Smart Banking 1.0" version of its mobile banking app, improving user experience and expanding financial product offerings[174] Awards and Recognition - The bank has received multiple awards, including "Best Retail Bank in China" and "Best Digital Wealth Management Platform in Asia-Pacific," reflecting its commitment to high-quality service and innovation[141] - The company has been recognized as the "Most Influential Financial Leasing Company" by the Global Leasing Competitiveness Forum in 2025[199] - The company ranked first among banking institutions in the "Best G3 Bond Investment Institution" award by "Treasury" for the year 2025, solidifying its market influence[158]

Financial Performance - The company reported a revenue of RMB 1,622.4 million for the year ended December 31, 2025, representing a 40.5% increase from RMB 1,154.4 million in 2024[5]. - Net profit attributable to equity shareholders increased by 74.8% to RMB 106.1 million in 2025, up from RMB 60.7 million in 2024[5]. - Adjusted net profit (non-IFRS measure) rose by 111.9% to RMB 135.4 million in 2025, compared to RMB 63.9 million in 2024[5]. - Same-store sales growth was recorded at 1.0% for the year ended December 31, 2025, compared to a decline of 4.2% in 2024[6]. - The total gross merchandise volume reached RMB 1,811.8 million in 2025, up from RMB 1,348.4 million in 2024, marking a significant growth[6]. - Revenue from direct-operated restaurants rose by 44.9% to RMB 1,450.2 million in 2025, accounting for 89.4% of total revenue[22]. - Revenue from franchising management increased by 12.3% to RMB 171.3 million, but its share of total revenue decreased from 13.2% in 2024 to 10.5% in 2025[22]. - Dine-in service revenue increased to RMB 1,073,000,000 in 2025, up 30.8% from RMB 820,301,000 in 2024[86]. - Takeaway business revenue rose significantly to RMB 377,209,000, representing a 108.5% increase from RMB 180,709,000 in 2024[86]. - Basic earnings per share rose to RMB 17.41, compared to RMB 10.11 in 2024, reflecting the company's strong financial performance[77]. Restaurant Expansion - The number of restaurants increased to 503 in 2025 from 360 in 2024, with 156 new openings during the year[11]. - The restaurant network expansion included 411 directly operated restaurants and 92 franchised restaurants as of December 31, 2025[13]. - The number of restaurants increased from 360 in 2024 to 503 in 2025, representing a growth of 39.7%[14]. - The company plans to open 150 to 180 new restaurants in 2026, with 20 already opened and 76 in preparation as of February 28, 2026[19]. Operational Efficiency - The adjusted net profit margin improved to 8.3% in 2025, up from 5.5% in 2024, reflecting enhanced operational efficiency[5]. - Average order value decreased for both direct-operated and franchised restaurants, with direct-operated restaurants dropping from RMB 32.1 in 2024 to RMB 29.9 in 2025[14]. - Same-store sales for direct-operated restaurants increased by 1.0% to RMB 745.6 million in 2025, while franchised restaurants saw a 1.1% increase to RMB 212.1 million[18]. Expenses and Costs - Material and consumables used increased by 32.8% to RMB 525.7 million, but its proportion of revenue decreased from 34.3% to 32.4%[23]. - Employee costs rose by 34.3% to RMB 356.0 million, with the proportion of revenue decreasing from 23.0% to 21.9%[24]. - Rent expenses increased by 30.7% to RMB 275.1 million, while its proportion of revenue decreased from 18.2% to 17.0%[26]. - Utility expenses rose by 47.9% from RMB 44.5 million in 2024 to RMB 65.9 million in 2025, with the proportion of utility expenses to revenue slightly increasing from 3.9% to 4.1%[28]. - Advertising and promotion expenses increased by 43.8% from RMB 13.3 million in 2024 to RMB 19.2 million in 2025, maintaining a consistent proportion of 1.2% of revenue for both years[30]. - Other expenses surged by 53.4% from RMB 88.7 million in 2024 to RMB 136.1 million in 2025, primarily due to growth in the takeaway business[32]. Assets and Liabilities - Total assets increased from RMB 1,161.1 million as of December 31, 2024, to RMB 2,083.1 million as of December 31, 2025, while total liabilities rose from RMB 1,043.4 million to RMB 1,261.3 million[51]. - Cash and cash equivalents surged by 1,503.6% from RMB 42.2 million as of December 31, 2024, to RMB 676.5 million as of December 31, 2025, primarily due to proceeds from a global offering[49]. - Trade and other payables rose by 45.7% from RMB 110.4 million as of December 31, 2024, to RMB 160.8 million as of December 31, 2025, mainly due to increased procurement of raw materials driven by restaurant network expansion[50]. - The capital debt ratio decreased from 42.5% as of December 31, 2024, to 0% as of December 31, 2025, as all bank loans were repaid[52]. - The asset-liability ratio improved from 89.9% as of December 31, 2024, to 60.5% as of December 31, 2025, indicating a stronger financial position[51]. Shareholder Returns - The company plans to distribute a final dividend of RMB 0.03 per H share, subject to shareholder approval[10]. - The proposed final dividend per ordinary share is RMB 0.03 for the year ended December 31, 2025, compared to RMB 0.02 for the previous year[64]. - The company declared an interim dividend of RMB 0.06 per share for 2025, totaling RMB 34,365,000, compared to no interim dividend in 2024[104]. Future Plans and Investments - 60% of the net proceeds from the global offering, approximately HKD 370.2 million, is allocated for expanding the restaurant network and deepening market penetration by the end of 2028[74]. - 10% of the net proceeds, approximately HKD 61.7 million, is designated for upgrading the company's information technology capabilities by the end of 2028[74]. - 6% of the net proceeds, approximately HKD 37.0 million, will be used to adopt AI technology, IoT systems, and big data analytics to support operational growth by the end of 2028[74]. - 2% of the net proceeds, approximately HKD 12.3 million, is allocated for upgrading the technology infrastructure to achieve further operational digitization and automation by the end of 2028[74]. - The company plans to enhance brand building and customer loyalty with 10% of the net proceeds, approximately HKD 61.7 million, by the end of 2028[74]. Corporate Governance - The company has maintained compliance with corporate governance codes, ensuring high standards of ethics and transparency in operations[110]. - All directors confirmed strict compliance with the standard code of conduct for securities trading for the year ending December 31, 2025[112]. - The audit committee, composed of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending December 31, 2025, ensuring they reflect the group's financial position and performance accurately[113]. - The auditor, KPMG, confirmed that the financial data disclosed in the preliminary announcement is consistent with the audited consolidated financial statements for the year ending December 31, 2025[114].

Financial Performance - The company's revenue for the year ended December 31, 2025, was RMB 1,284,657,000, representing a 103.3% increase from RMB 631,978,000 in 2024[5] - Gross profit for the same period was RMB 792,082,000, up 63.4% from RMB 484,627,000 in 2024[5] - The company reported a net loss of RMB 129,654,000 for the year, compared to a net loss of RMB 97,845,000 in 2024[6] - Adjusted net loss (non-HKFRS measure) was RMB 54,850,000, an improvement from RMB 82,366,000 in the previous year[5] - The company achieved a total revenue of approximately RMB 1,284.66 million, a significant increase of 103.28% compared to RMB 631.98 million in the previous year, marking a milestone of crossing the "billion revenue" threshold[53] - The company reported a consolidated loss of approximately RMB 129.65 million for the year, an increase from a loss of RMB 97.85 million in the previous year, primarily due to high expansion and significant R&D investments[54] Revenue Breakdown - Revenue from transaction-based professional technical products was RMB 1,173,467,000 in 2025, up 130% from RMB 509,652,000 in 2024[25] - Subscription-based professional technical products generated revenue of RMB 111,190,000 in 2025, a decrease of 9% from RMB 122,326,000 in 2024[25] - Revenue from mainland China accounted for RMB 1,278,825,000 in 2025, representing 99.5% of total revenue[23] - Revenue from the asset management sector was approximately RMB 261.66 million, accounting for about 20.37% of total revenue, a 7.04% increase from RMB 244.44 million (38.68% of total revenue) in the previous year[66] - Revenue from diversified industries reached approximately RMB 1,023.00 million, representing 79.63% of total revenue, a substantial increase of 163.97% from RMB 387.54 million (61.32% of total revenue) in the previous year[66] Expenses and Costs - Research and development expenses increased to RMB 616,332,000 from RMB 450,441,000, indicating a focus on innovation[6] - The cost of goods sold and service costs for 2025 reached RMB 464,736 thousand, a dramatic rise from RMB 125,613 thousand in 2024, reflecting a 269% increase[29] - Research and development expenses surged to RMB 500,021 thousand in 2025, up from RMB 304,018 thousand in 2024, marking a 64% increase[29] - The group's financial asset impairment loss for the year was approximately RMB 161.19 million, an increase of about 793.02% compared to the previous year's loss of RMB 18.05 million, primarily due to increased trade receivables and corresponding expected credit loss provisions[74] Assets and Liabilities - Total assets as of December 31, 2025, reached RMB 3,171,824,000, compared to RMB 1,832,362,000 in 2024[10] - Current assets increased significantly to RMB 2,053,309,000 from RMB 907,295,000 in the previous year[10] - The company's cash and cash equivalents rose to RMB 1,083,856,000, up from RMB 343,818,000 in 2024[10] - The group's current liabilities as of December 31, 2025, are approximately RMB 731.23 million, up from RMB 165.04 million in 2024, driven by increased trade payables and contract liabilities[91] - Trade receivables increased to RMB 865,888,000 in 2025 from RMB 284,545,000 in 2024, with a provision for impairment of RMB 194,008,000[46] Corporate Governance - The company has been included in the Hang Seng Composite Index, meeting the criteria for trading through the Stock Connect programs[114] - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[116] - The Audit Committee consists of three members, including independent non-executive directors, and has reviewed the financial performance for the year[119] - The company has adopted a standard code of conduct for securities trading, ensuring compliance from all directors and supervisors[118] - The company will continue to comply with the corporate governance code until December 31, 2025, with no deviations reported[117] Strategic Focus and Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[12] - The company is focusing on expanding AI infrastructure and solutions across various industries, driven by the increasing demand for enterprise-level AI data[52] - The company is focusing on expanding AI infrastructure into emerging fields such as robotics data platforms and commercial aviation, indicating a strategic shift towards high-growth sectors[76] - The company aims to build a robust data moat by providing high-quality, structured, and contextualized data, essential for businesses in high-value verticals such as finance, energy, and healthcare[84] - The group plans to expand into key industries such as power, telecommunications, and high-end manufacturing, leveraging its real-time data processing capabilities[86] Employee and Operational Metrics - The company’s employee count as of December 31, 2025, was 448, down from 517 in 2024, while revenue per employee reached RMB 287 million, a remarkable increase of 135.25% compared to RMB 122 million in the previous year[64] - The group had a total of 448 employees, with total employee compensation amounting to approximately RMB 195.97 million, slightly up from RMB 194.33 million in 2024[108] Risk Management - The group faced transaction currency risk, primarily operating in China with most revenues and expenses denominated in RMB, and did not enter into any forward contracts to hedge foreign exchange risks during the year[105] - The company emphasizes the importance of effective internal controls and risk management in its operations[119]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，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告全部或任何部分內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 | 業績要點： | | | | | --- | --- | --- | --- | | | 2025 年 | 2024 年 | 增加／(減少) | | 天然氣零售銷售量# （百萬立方米） | 26,606 | 26,200 | 1.5% | | 泛能銷售量# （百萬千瓦時） | 40,106 | 41,569 | (3.5%) | | 營業額 （人民幣百萬元） | 111,905 | 109,853 | 1.9% | | 本公司擁有人應佔溢利 （人民幣百萬元） | 5,904 | 5,987 | (1.4%) | | 核心利潤△ （人民幣百萬元） | 6,741 | 6,952 | (3.0%) | | 每股基本盈利 （人民幣元） | 5.31 | 5.35 | (0.7%) | | 已付每股中期股息及建議每股末期股息 （港元） | 3.00 | 3.00 | - | # 本公告披露之本集團營運數據包括附 ...

Financial Performance - For the fiscal year ending December 31, 2025, TCL Electronics reported a revenue of HKD 114.58 billion, representing a year-on-year increase of 15.4% compared to HKD 99.32 billion in 2024[4]. - The gross profit for the same period was HKD 17.90 billion, up 15.1% from HKD 15.55 billion in 2024[4]. - The net profit attributable to shareholders increased by 41.8% to HKD 2.50 billion, compared to HKD 1.76 billion in the previous year[4]. - Adjusted net profit attributable to shareholders rose by 56.5% to HKD 2.51 billion from HKD 1.61 billion in 2024[4]. - The company proposed a final dividend of HKD 0.498 per share, a 56.6% increase from HKD 0.318 per share in 2024[4]. - The overall gross margin for TCL improved by 1.9 percentage points to 21.7%, despite a revenue decline of 9.7% to HKD 17.204 billion[28]. - The total comprehensive income for the year was HKD 3,200,774 thousand, significantly higher than HKD 964,255 thousand in 2024[88]. - The group's profit before tax for 2025 was HKD 2,495,131,000, an increase from HKD 1,759,366,000 in 2024, representing a growth of approximately 41.8%[120]. Business Segments - TCL's display business revenue grew by 9.2% to HKD 75.80 billion, with a gross profit increase of 16.4% to HKD 12.48 billion[13]. - The large-size display business achieved revenue of HKD 64.708 billion in 2025, reflecting a year-on-year growth of 7.7% and a gross profit increase of 17.2% to HKD 10.896 billion[20]. - Internet business revenue is expected to grow by 18.3% year-on-year to HKD 3.109 billion in 2025, with a gross margin increase of 0.2 percentage points to 56.4%[14]. - The photovoltaic business revenue is projected to increase by 63.6% year-on-year to HKD 21.063 billion in 2025, with gross profit rising by 47.5% to HKD 1.815 billion[16]. - The smart commercial display business is projected to achieve a revenue growth of 28.4% to HKD 1.121 billion in 2025, with a gross profit increase of 24.0% to HKD 143 million[34]. - The internet business generated revenue of HKD 3.109 billion in 2025, reflecting an 18.3% year-on-year growth, with a gross profit of HKD 1.753 billion and a gross margin of 56.4%[36]. Market Position and Strategy - The company aims to enhance its global market presence and product competitiveness through a dual strategy of globalization and premiumization[10]. - TCL's global TV shipment market share reached 14.7% in 2025, an increase of 0.8 percentage points year-on-year, maintaining the second position globally[20]. - The company has established strategic partnerships with international giants like Google and Netflix, enhancing its global market presence[14]. - The company aims to enhance its global brand influence, ranking 10th in the "Google x Kantar BrandZ Top 50 Globalization Brands" list, with a brand strength increase of 20%[19]. Innovation and R&D - The introduction of the AI-powered home companion robot, TCL AiMe, showcases the company's innovation in the AI and IoT integration space[18]. - R&D expenses are anticipated to grow by 8.5% year-on-year to HKD 2.532 billion in 2025, focusing on AI technology and display technology[17]. - The company launched flagship products featuring NXTPAPER technology, enhancing user experience with innovative features and receiving positive market feedback since their release[31]. - The company plans to continue developing AIGC content production capabilities focused on children's companionship and comic scenarios in 2026[39]. Cash and Financial Health - TCL's cash and cash equivalents increased by 54.2% to HKD 13.52 billion, ensuring sufficient funding for business development and strategic investments[11]. - The company's capital debt ratio was 0% as of December 31, 2025, indicating no net debt after accounting for cash and cash equivalents[79]. - Cash and cash equivalents as of December 31, 2025, totaled approximately HKD 13,522,134,000, representing a year-on-year increase of 54.2%[78]. - The company reported a significant increase in cash and cash equivalents, with 53.1% in USD, 28.1% in RMB, and 7.5% in EUR as of December 31, 2025[78]. Shareholder Value and Dividends - The company will continue to focus on shareholder value, with performance-linked incentives for executives and core employees[50]. - The proposed final dividend for 2025 is HKD 49.80 per share, totaling HKD 1,255,426,000, up from HKD 31.80 per share and HKD 801,657,000 in 2024, indicating a significant increase of approximately 56.5%[117]. Compliance and Governance - The audit committee reviewed the annual performance for the year ending December 31, 2025, including the accounting principles adopted by the group[136]. - All directors confirmed compliance with the standards set forth in the code of conduct for securities trading for the year ending December 31, 2025[137]. - The company has established and will continue to optimize risk management and internal control systems, ensuring compliance with corporate governance codes[134].

Financial Performance - The company recorded revenue of RMB 4.33 billion for the fiscal year ending December 31, 2025, representing a year-on-year growth of 12.0%[3] - Shareholder profit was RMB 533 million, a decrease of 18.9%, but adjusted profit excluding a one-time impairment was RMB 712 million, reflecting an 8.4% increase year-on-year[3] - Revenue for the year ended December 31, 2025, was RMB 4,331,357,000, an increase of 12% from RMB 3,867,119,000 in 2024[12] - Operating profit decreased to RMB 1,391,377,000, down 15% from RMB 1,641,738,000 in the previous year[12] - Net profit attributable to shareholders was RMB 532,947,000, a decline of 19% compared to RMB 656,781,000 in 2024[12] - Basic and diluted earnings per share were both RMB 0.3185, down from RMB 0.3925 in 2024[12] - The company reported a total comprehensive income of RMB 882,214,000, down from RMB 964,625,000 in 2024[13] - The company reported a net profit of RMB 882,466,000 for the year ending December 31, 2025, down from RMB 964,360,000 in the previous year[24][25] - The company reported a net loss of RMB (240,666,000) in other income, primarily due to impairment losses and reduced government subsidies[30] - The company’s attributable profit for the reporting year was RMB 533 million, a decrease of 18.9% compared to RMB 657 million in the previous year, primarily due to impairment losses on intangible assets related to Hubei Daguan South Expressway amounting to RMB 179 million[129] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.13 per share, totaling a dividend payout of HKD 0.25 per share for the year, equivalent to RMB 0.2236, with a payout ratio of 70.2%[3] - The proposed final dividend for the year 2025 is HKD 0.13 per share, totaling approximately RMB 0.2236, with a payout ratio of 70.2%[135] - The group’s total dividend payout for 2025 was RMB 374,199,000, slightly lower than RMB 384,271,000 in 2024, reflecting a decrease of about 2.8%[42] Assets and Liabilities - Total assets as of December 31, 2025, were RMB 37,401,380,000, slightly down from RMB 37,506,791,000 in 2024[14] - Total liabilities decreased to RMB 21,575,344,000 from RMB 22,100,654,000 in the previous year[15] - Cash and cash equivalents increased significantly to RMB 2,966,568,000 from RMB 1,978,432,000 in 2024[14] - Total assets as of December 31, 2025, are RMB 374.0 billion, a decrease of 0.3% from RMB 375.1 billion in 2024[136] - Total liabilities decreased by 2.4% to RMB 215.8 billion, with bank loans at RMB 95.1 billion, down 14.8% from RMB 111.5 billion in 2024[137] - Cash and cash equivalents increased by 49.9% to RMB 29.7 billion, compared to RMB 19.8 billion in 2024[138] Operational Highlights - The transportation industry showed stable growth, with a total freight transport volume of 597 billion tons, an increase of 3.2% year-on-year[5] - During the 2026 Spring Festival travel period, cross-regional passenger flow reached 9.4 billion, a 4.3% increase from the previous year, indicating strong demand for travel[9] - The company plans to focus on high-quality development and capture investment opportunities in the expressway sector while expanding into smart transportation and green energy[10] - The company acquired 85% of Shandong Qinbin Expressway Construction Co., Ltd. for RMB 1,153.5 million, enhancing its sustainable development capabilities and regional expansion strategy[7] - The company is actively promoting differentiated toll pricing to enhance network efficiency and reduce logistics costs[56] - The company is implementing lean management and technological innovations to improve operational efficiency and reduce costs[50] Financial Health and Ratings - Moody's and Fitch assigned investment-grade ratings of Baa2 and BBB, respectively, reflecting the company's solid financial health[7] - The company remains confident in its ability to meet liabilities as they come due over the next twelve months[17] - The company expects no significant impact from the adoption of the new and revised Hong Kong Financial Reporting Standards upon their effective date[22] - The company is currently analyzing the impact of the new Hong Kong Financial Reporting Standards on its financial statement presentation and disclosures[21] Future Outlook and Strategic Initiatives - The government set a GDP growth target of 4.5% to 5.0% for 2026, aiming to stabilize employment and market expectations amid a complex economic environment[8] - The company formulated the "14th Five-Year" development plan, focusing on expanding traditional infrastructure and new sectors like AI and green energy[49] - The company plans to enhance resource integration and expand into logistics and warehousing to ensure stable cash flow[62] - The company aims to improve service areas and innovate business models to create national flagship projects[62] - The company will leverage dual-platform financing to support major projects like the Guangzhou North Second Ring Expressway expansion[63] Risk Management - The company is actively addressing risks related to investment feasibility due to external factors such as macroeconomic changes and toll policy adjustments[65] - The company anticipates potential investment risks due to changes in interest rates, construction costs, and material prices[75] - The company has implemented risk mitigation measures including accelerating pipeline relocation and optimizing engineering plans to reduce costs[76] - The company is closely monitoring site management and budget control to manage financial risks effectively[76] Employee and Governance - The group employed 2,267 employees as of December 31, 2025, with 2,076 directly involved in the operation and management of toll roads, bridges, and port projects[157] - The company’s governance structure ensures balanced power and authority, with regular board meetings to discuss operational matters[163] - The company’s auditor, Ernst & Young, confirmed that the preliminary performance announcement aligns with the audited financial statements for the year ending December 31, 2025[164]