Financial Performance - For the year ended December 31, 2025, the company reported revenue of RMB 551.1 million, an increase of 114.2% compared to RMB 257.2 million in 2024[5] - Gross profit for the same period was RMB 266.6 million, representing a 209.2% increase from RMB 86.2 million in 2024[5] - The company reduced its pre-tax loss to RMB 254.1 million, a 60.7% improvement from a loss of RMB 647.1 million in the previous year[7] - Adjusted net loss for the year was RMB 165.0 million, down 65.8% from RMB 482.6 million in 2024[5] - The company reported a basic and diluted loss per share of RMB 0.24, a reduction of 63.6% from RMB 0.66 in 2024[5] - The group reported a pre-tax loss of RMB 19,809,000 for 2025, a decrease from RMB 21,639,000 in 2024[27] - The adjusted net loss for the year ended December 31, 2025, was RMB 164.99 million, a significant improvement from the adjusted net loss of RMB 482.61 million in 2024[113] Revenue Growth - The group's revenue for 2025 reached RMB 551,069,000, a significant increase of 114.3% compared to RMB 257,249,000 in 2024[20] - Revenue from the sale of surgical robot systems, instruments, and accessories amounted to RMB 539,267,000, up from RMB 252,410,000 in the previous year, reflecting a growth of 113.5%[20] - The company achieved significant growth in overseas markets, with new overseas orders exceeding 100 units and sales revenue in these markets increasing fivefold compared to the previous year[5] - The group’s revenue from overseas customers was RMB 400,230,000 in 2025, a substantial increase from RMB 103,524,000 in 2024, representing a growth of 286.5%[25] - The company reported revenue of RMB 551.1 million, a significant increase of 114% from RMB 257.2 million in the previous year, with overseas market revenue accounting for 73% of total revenue[56] Operational Efficiency - The company focused on core product development, leading to a decrease in operating expenses and improved operational efficiency[7] - Free cash flow for the year was a net outflow of RMB 63 million, an improvement from a net outflow of RMB 388 million in 2024[7] - Sales and marketing expenses decreased to RMB 203.6 million for the year ending December 31, 2025, from RMB 207.9 million in the previous year, with the expense ratio dropping from 80.8% to 36.9% of revenue[104] - Research and development costs decreased by 30.0% to RMB 216.0 million for the year ending December 31, 2025, down from RMB 308.7 million in the previous year, reflecting a focus on high-value projects[106] Assets and Liabilities - Total assets as of December 31, 2025, were RMB 1,035.6 million, compared to RMB 856.5 million in 2024[12] - The company's equity attributable to shareholders increased to RMB 410.7 million from RMB 278.2 million in the previous year[13] - The company's interest-bearing borrowings decreased to RMB 389.05 million in 2025 from RMB 634.54 million in 2024, with a significant portion due within one year[39] - The asset-liability ratio improved to 70.0% as of December 31, 2025, compared to 80.0% in 2024[123] - The company's cash and cash equivalents increased to RMB 636.3 million as of December 31, 2025, up from RMB 612.2 million in 2024, primarily due to the completion of an H-share placement[120] Market Opportunities - The global surgical robot market is projected to grow from $7.7 billion in 2019 to $21.2 billion by 2024, with a compound annual growth rate (CAGR) of 22.4%[49] - By 2033, the global market size is expected to reach $84.2 billion, with a CAGR of 16.6%[49] - In China, the penetration rate of robotic-assisted surgeries is relatively low, indicating significant growth potential driven by population size and increasing health awareness[49] - The Chinese surgical robot market is experiencing rapid growth, with overseas sales becoming a core incremental space for the industry[49] Innovation and Development - The company has launched its independently developed UniPath™ electronic bronchoscope surgical navigation system, increasing the number of approved surgical robot products to seven, making it the first and only company to commercialize products across all five major surgical robot tracks[64] - The company has established a strong presence in top-tier hospitals, with over 90% of installations in Class A hospitals in China[69] - The company has developed the world's first and only commercial remote surgery system that covers all departments and surgical procedures, achieving a 100% success rate in nearly 800 remote clinical surgeries globally[73] - The company has established a comprehensive supply chain system in China, with two production bases located in Shanghai and Suzhou, enabling large-scale production capabilities for multiple surgical robot products[95] Corporate Governance - The audit committee consists of two independent non-executive directors and one non-executive director, focusing on financial reporting and risk management effectiveness[145] - The company aims to enhance its corporate governance practices to ensure compliance with the corporate governance code[144] - The company has complied with all applicable laws and regulations in all material respects during the reporting period[148] Future Plans - The company plans to continue global resource integration and expansion, focusing on multi-disciplinary clinical applications and remote technology innovations[70] - The company plans to allocate 40% of the net proceeds from the June 2024 placement for core business development and ecosystem layout, including overseas product registration and necessary R&D improvements[127] - The company intends to use 70% of the net proceeds from the December 2024 placement for core business development and 30% for operational funding and general corporate purposes[130]

Financial Performance - For the year ending December 31, 2025, revenue was approximately RMB 7,604,649,000, an increase of 34.7% compared to RMB 5,647,335,000 for 2024[3]. - Gross profit for the year ending December 31, 2025, was approximately RMB 607,187,000, up 36.4% from RMB 445,216,000 in 2024[3]. - Net profit for the year ending December 31, 2025, was approximately RMB 145,401,000, an increase of 8.0% compared to RMB 134,673,000 in 2024[3]. - The company's total revenue increased by 34.7% from RMB 5,647.3 million in the previous year to RMB 7,604.6 million this year[46]. - Gross profit for the same period was RMB 607.2 million, representing a gross margin of approximately 8%[84]. - The group reported a net profit of RMB 145.4 million for 2025, compared to RMB 134.7 million in 2024, reflecting a growth of 7.9%[84]. - The group’s profit before tax for 2025 was RMB 181,750,000, an increase from RMB 146,016,000 in 2024, representing a growth of approximately 24.5%[116]. Contract and Project Updates - The total value of new contracts for 2025 was approximately RMB 5,040,972,000, a decrease from RMB 10,865,107,000 in 2024[7]. - The total value of unfinished contracts as of December 31, 2025, was approximately RMB 16,391,203,000, down from RMB 25,719,315,000 in 2024[7]. - The UAE sulfur granulation project is 9% complete, with design at 53%, procurement at 9%, and construction at 4%[12]. - The Qatar EPC4 sulfur processing project is 82% complete, with design at 99%, procurement at 95%, and construction at 65%, aiming for mechanical completion by December 2026[12]. - The Saudi Aramco DPCU project has 100% design completion, 99% procurement progress, and 95% construction progress, scheduled for completion in April 2026[12]. - The Saudi FARABI Lab4 project is set to receive acceptance certificate on July 23, 2025, with successful first feed on September 1, 2025, marking a significant milestone in international expansion[13]. - The Guangxi Huayi MTO project is on track for intermediate handover by December 28, 2025, as the world's first million-ton MTO facility[13]. - The Wanhu Phase II 1.2 million tons ethylene project successfully started up on April 1, 2025, utilizing proprietary ethylene technology[14]. - The Yangmei coal-to-syngas project achieved successful intermediate handover on November 18, 2025, with first feed on December 24, 2025[15]. Market and Strategic Focus - The company is focusing on international transformation and increasing investment in green low-carbon technology to enhance digitalization and modular capabilities[6]. - The company is actively exploring new markets and fields while improving operational efficiency to create value for customers[6]. - The global energy market is undergoing significant changes, with a shift towards high-end and green energy solutions, presenting unprecedented development opportunities in clean energy[9]. - The company has made breakthroughs in new energy technologies, including biodegradable plastics and carbon reduction, to support its long-term development strategy[11]. - The company aims to enhance its capabilities in green low-carbon technology and expand into new markets as part of its strategic transformation[44]. Research and Development - The company has achieved 22.82 million safe man-hours across all projects, with no lost time incidents or environmental pollution events reported[19]. - The company is enhancing its project management capabilities through digitalization and risk management integration, aiming to improve customer satisfaction and core competitiveness[16][17]. - The company is committed to green energy transformation and has set high standards for quality, health, safety, and environmental management in its projects[18]. - The company has developed a clear strategic framework focusing on four core products and three core technology routes, supported by a digital renewable energy platform[29]. - The company achieved significant results in the development of biodegradable plastic technology, with a successful pilot run of a thousand-ton polylactic acid production process[31]. - The company successfully applied its self-developed ethylene technology in a million-ton ethylene plant, increasing capacity from 1 million tons to 1.2 million tons by using pure ethane as raw material[32]. - The new carbon four separation technology reduces energy consumption by over 40% and wastewater by 90%, with successful operation expected in November 2025[34]. - The new generation of butadiene extraction technology achieves over 10% reduction in energy consumption, maintaining the company's leading position in the domestic market[35]. - The company has added 15 new patents and 1 software copyright, focusing on new energy fields to strengthen its intellectual property and technology reserves[35]. Financial Position and Liabilities - As of December 31, 2025, the group's non-pledged cash and bank balances were approximately RMB 2,256.9 million, accounting for about 38.1% of current assets[64]. - The net cash flow from operating activities was RMB -1,252.3 million, compared to RMB 3,084.9 million in the previous year[65]. - The group completed the acquisition of a 35% stake in Lianhong Huisheng (Jiangsu) New Materials Co., Ltd. for RMB 255 million, approved by shareholders on November 12, 2024[75]. - Total liabilities decreased to RMB 7,270,030 thousand in 2025 from RMB 9,640,863 thousand in 2024, a reduction of 24.55%[87]. - Non-current liabilities decreased significantly to RMB 1,406,257 thousand in 2025 from RMB 2,096,226 thousand in 2024, a decrease of 32.87%[87]. - The company’s total liabilities to equity ratio improved to 2.54 in 2025 from 3.63 in 2024, indicating a stronger equity position[87]. Human Resources and Talent Management - The company aims to enhance its human resources strategy by focusing on attracting, retaining, and developing talent, with a goal of building a global talent resource pool[40]. - The company has accumulated nearly 2,000 international talent profiles, strengthening its employer brand and expanding recruitment channels in prestigious Asian universities[41]. - Employee costs for the year amounted to RMB 1,022.6 million, up from RMB 958.9 million in the previous year, indicating a rise of 6.6%[82]. - The group employed 1,523 staff as of December 31, 2025, down from 1,867 employees a year earlier, representing a reduction of 18.4%[81]. Corporate Governance and Compliance - The board of directors has decided not to recommend the payment of a final dividend for the year ending December 31, 2025[143]. - The audit committee, consisting of five independent non-executive directors, has reviewed the annual performance and financial statements, confirming compliance with applicable accounting standards and regulations[141]. - There have been no significant events affecting the group from the end of the financial year to the date of this announcement[146]. - The company has adopted the standard code for directors' securities transactions as per the listing rules[138]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year[140].

Financial Performance - The group recorded revenue of approximately SGD 8.0 million for the fiscal year ending December 31, 2025, a decrease of 8.1% compared to SGD 8.7 million in the previous fiscal year[12]. - The net loss for the fiscal year 2025 was approximately SGD 3.0 million, compared to a net loss of SGD 0.20 million in fiscal year 2024[13]. - The company's total revenue for the fiscal year 2025 was approximately SGD 8.0 million, a decrease of about SGD 0.7 million or 8% compared to SGD 8.7 million in fiscal year 2024[26]. - The total comprehensive loss for the year ended December 31, 2025, was approximately SGD 3,002,000, compared to a comprehensive loss of SGD 201,000 for the fiscal year 2024, indicating a significant increase in losses[38]. - The net cash used in operating activities was approximately SGD 2.0 million for the year ended December 31, 2025, compared to a net cash generated of SGD 0.1 million in fiscal year 2024[42]. - The total equity as of December 31, 2025, was approximately SGD 9.5 million, down from SGD 12.6 million in fiscal year 2024[41]. - The company had a cash balance of approximately SGD 6.4 million as of December 31, 2025, down from SGD 11.4 million in fiscal year 2024[41]. - Other operating expenses increased by approximately 46.9% to about SGD 2.85 million in the current year, primarily due to higher-than-expected marketing expenses[34]. - Employee benefits expenses slightly increased to approximately SGD 4.8 million, mainly due to additional personnel costs from the expansion of the company's operations in China[30]. Business Strategy and Expansion - The group is diversifying its revenue sources by expanding into the Chinese healthcare market and the education sector, although these initiatives are still in the early development stages[13]. - Initial progress has been made in establishing a presence in the Chinese market, representing a significant long-term growth opportunity[14]. - The education segment has registered a Philippine entity in 2024, marking an important step in regional expansion, but is facing delays in obtaining necessary certifications, expected to be completed by 2027[15]. - The group plans to refocus its strategy and enhance its Singapore operations, including improving operational efficiency and optimizing cost structures[16]. - The diversification plan, particularly in China and the education segment, is expected to support future growth[17]. - The company is focusing on enhancing core treatment center operations by improving patient conversion rates, optimizing pricing strategies, and increasing overall operational efficiency[24]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and regularly reviews its practices[121]. - The board of directors is responsible for overseeing the business management and overall performance of the group, ensuring necessary financial and human resources support to achieve goals[138]. - The board consists of more than 50% independent non-executive directors, ensuring a balanced composition for independent judgment[140]. - The company has implemented appropriate insurance for directors against liabilities arising from their duties[143]. - Continuous professional development training has been provided to all directors to enhance their understanding of the company's operations and governance policies[144]. - The company has established a board committee to delegate various responsibilities, enhancing operational efficiency[138]. - The company has a plan for orderly succession of directors, particularly for the roles of chairman and CEO[159]. ESG Commitment - The ESG report outlines the company's commitment to sustainable development and highlights its efforts in corporate governance, environmental protection, and community investment[195]. - The company has set quantifiable environmental goals for the fiscal year 2025 to enhance its ESG performance[195]. - The group has established an ESG governance framework to integrate ESG management into its business operations and decision-making processes[198]. - The board of directors is responsible for overseeing ESG issues and has set ESG management policies, strategies, priorities, and goals[198]. - Stakeholder engagement is prioritized, with regular communication to understand and address their core concerns regarding the group's business and ESG issues[200]. Shareholder Information - The company did not declare a final dividend for the current year, consistent with fiscal year 2024[40]. - The dividend policy is determined at the discretion of the board, considering factors such as operational performance, financial condition, and future development needs[185]. - The company confirms it maintains a sufficient public float of at least 25% of its issued shares as required by GEM listing rules[123]. - The company has no plans for any significant acquisitions or expansions disclosed in the current report[99]. Operational Challenges - The company anticipates continued challenges in the operating environment, with ongoing competitive pressure in the healthcare sector and persistent cost pressures from inflation trends[23]. - The company faced a foreign exchange loss of approximately SGD 232,000 due to the depreciation of the Hong Kong dollar against the Singapore dollar, compared to a gain of SGD 113,000 in fiscal year 2024[44]. Management and Staffing - The company’s total employee count increased to 46 in fiscal year 2025 from 34 in fiscal year 2024[31]. - A total of SGD 4.376 million has been allocated to ensure sufficient staffing for the operation of the treatment centers[59].

Financial Performance - For the fiscal year ending December 31, 2025, the total revenue increased to HKD 1,701,046, representing a growth of 15.4% compared to HKD 1,474,488 in 2024[3] - The gross profit for the same period rose to HKD 526,241, reflecting a gross margin of approximately 30.9%, up from HKD 455,482 in 2024[3] - The operating profit increased significantly to HKD 174,064, a 54.0% increase from HKD 113,004 in the previous year[3] - Net profit for the year reached HKD 126,202, which is a 103.5% increase compared to HKD 61,832 in 2024[5] - Basic earnings per share for the year was HKD 27.6043, up from HKD 13.2989 in 2024, indicating a substantial increase of 108.0%[5] - Total reported segment revenue is forecasted to reach HKD 1,748,583 thousand in 2025, an increase from HKD 1,520,260 thousand in 2024, indicating a growth of approximately 15%[20] - The group reported an operating profit of HKD 160,127 thousand for 2025, compared to HKD 95,133 thousand in 2024, marking a significant increase of around 68%[20] - Shareholders' profit attributable increased by 107.6% to HKD 118,468,000, up from HKD 57,074,000 in the previous year[44] Assets and Liabilities - Total assets as of December 31, 2025, amounted to HKD 1,977,767, a slight increase from HKD 1,944,866 in 2024[7] - The company's total equity increased to HKD 1,284,044, compared to HKD 1,179,289 in the previous year, marking a growth of 8.9%[8] - The total liabilities decreased to HKD 713,723,000 in 2025 from HKD 765,577,000 in 2024[24] - Non-current assets increased by HKD 46,691,000 in 2025, compared to an increase of HKD 33,432,000 in 2024[22] Cash Flow and Financial Management - The company reported cash and undrawn bank financing of approximately HKD 174,208,000 and HKD 645,300,000, respectively, as of December 31, 2025[44] - The net financial cost for 2025 was HKD 9,874,000, a decrease from HKD 11,723,000 in 2024[26] - The company recognized a fair value gain of HKD 6,444,000 on financial assets, compared to a loss of HKD 526,000 in 2024[26] - The company reported a decrease in financial expenses to HKD 9,874, down from HKD 11,723 in 2024, reflecting improved financial management[3] Revenue Segmentation - Revenue from external customers for the manufacturing segment is projected to be HKD 1,066,858 thousand in 2025, up from HKD 931,812 thousand in 2024, representing an increase of approximately 14.5%[20] - The trading segment is expected to generate revenue of HKD 634,188 thousand in 2025, compared to HKD 542,676 thousand in 2024, reflecting a growth of about 17%[20] - The manufacturing segment's revenue for the year was HKD 1,066,858,000, a year-on-year increase of 14.5% from HKD 931,812,000[46] - The trade segment's revenue increased by 16.9% to HKD 634,188,000, up from HKD 542,676,000 in the previous year, accounting for 37.4% of total group revenue[49] Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.06 per share, totaling HKD 25,750,000, compared to HKD 21,458,000 in 2024[32] - The company declared a final dividend of HKD 0.06 per share, up from HKD 0.05 per share last year, totaling HKD 0.09 for the year[44] - The company will suspend share transfer registration from June 1, 2026, to June 4, 2026, to determine eligibility for the final dividend[58] - The company will also suspend share transfer registration from May 19, 2026, to May 22, 2026, for shareholders to attend the annual general meeting[59] Operational Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new product development to sustain growth in the upcoming years[2] - The group plans to construct a new factory in Cambodia, expected to be completed by mid-2027, to enhance production capacity and diversify products[50] - Capital expenditures for the year amounted to approximately HKD 46.7 million for enhancing manufacturing capabilities, with a budget of HKD 201.3 million for 2026[53] - The company is focused on optimizing its trade platform and expanding market reach amid geopolitical changes and trade policy adjustments[43] Compliance and Governance - The board confirmed compliance with the corporate governance code for the year ending December 31, 2025[61] - All directors confirmed adherence to the standard code of conduct for securities transactions for the year ending December 31, 2025[62] - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2025[63] - The auditor, PwC, confirmed that the preliminary announcement aligns with the amounts presented in the draft consolidated financial statements for the year[64]

Financial Performance - The company's revenue for the year ended December 31, 2025, was HKD 4,044.2 million, a slight increase of 0.2% compared to HKD 4,034.4 million in 2024[2]. - Operating profit rose by 16.5% to HKD 1,983.2 million, up from HKD 1,702.3 million in 2024[2]. - Net profit for the year was HKD 1,980.7 million, down 8.1% year-on-year, primarily due to an increase in tax expenses of HKD 186.4 million related to new OECD tax rules[2]. - Total revenue increased by 0.2% to HKD 4,044.2 million, driven by steady growth in operating lease service income[35]. - The group reported total revenue of HKD 4,044,191,000 for the year ending December 31, 2025, a slight increase from HKD 4,034,369,000 in 2024[84]. - The group’s net profit for the year was HKD 1,980,683,000, compared to HKD 2,155,143,000 in 2024, indicating a decrease of about 8.1%[86]. Expenses and Costs - Total expenses decreased by 23.3% to HKD 2,100.2 million from HKD 2,738.7 million in the previous year[2]. - The company maintained a comprehensive financing cost of 2.91% in 2025, a reduction of 62 basis points compared to the previous year[28]. - The group’s financing costs and bank fees for the year ended December 31, 2025, were HKD 795.9 million, a decrease of 24.0% or HKD 251.7 million compared to the previous year[43]. - Depreciation expenses increased by 15.1% to HKD 666.1 million, primarily due to the shortening of the useful life of three operating lease container ships and the addition of eight new container ships[44]. - Operating costs for vessels decreased by 3.3% to HKD 385.2 million, attributed to effective cost control measures implemented during the year[45]. Assets and Liabilities - Total assets decreased by 1.7% to HKD 43,192.8 million from HKD 43,921.0 million in 2024[3]. - Total liabilities decreased by 5.3% to HKD 28,059.0 million compared to HKD 29,623.0 million in the previous year[3]. - Total equity increased by 5.8% to HKD 15,133.8 million from HKD 14,298.0 million in 2024[3]. - The equity total increased by HKD 835.8 million to HKD 15,133.8 million, with the debt-to-equity ratio decreasing from 67.5% to 65.0%[52]. - Accounts receivable and lease receivables decreased by 10.5% from HKD 20,714.8 million in 2024 to HKD 18,542.3 million in 2025[54]. Market Trends and Industry Insights - The global shipping market showed resilience, with the ClarkSea Index averaging USD 26,777 per day, a 7% increase year-on-year, despite various geopolitical and economic challenges[7]. - China continues to lead the global shipbuilding industry with a 63% share of new orders (measured in deadweight tonnage), maintaining its position as the world's largest shipbuilder[9]. - The global shipbuilding capacity is increasingly concentrated in countries with green shipbuilding capabilities, with China Shipbuilding Group expected to rank first in operational indicators by 2025[9]. - The oil tanker market is experiencing a significant surge, with VLCC spot rates exceeding $350,000 per day due to geopolitical tensions and structural supply shortages[12][13]. - The container shipping market faces new ship delivery pressures, but environmental regulations and operational management are expected to enhance market resilience[14]. Strategic Initiatives and Future Plans - The group plans to continue focusing on green and intelligent shipbuilding, enhancing its competitive edge in high-value sectors like LNG carriers and luxury cruise ships[20]. - The company aims to optimize its asset structure and increase the proportion of clean energy and high-end equipment[32]. - The company is committed to enhancing operational efficiency through the integration of digital technology and refined management practices[32]. - The company plans to enhance its core competitiveness through innovation and investment in green intelligent ships and offshore equipment[32]. Dividends and Shareholder Returns - A final dividend of HKD 0.05 per share is proposed, resulting in a total annual dividend of HKD 0.16 per share, with a payout ratio of 5.37%[31]. - The approved interim dividend for 2025 was HKD 0.05 per share, up from HKD 0.03 per share in 2024, totaling HKD 309,961,000[108]. - The group’s total dividend payout for 2025 is projected at HKD 954,591,000, compared to HKD 738,622,000 in 2024[108]. Compliance and Governance - The company has maintained compliance with the corporate governance code and has adopted most of the recommended best practices[119]. - The company’s auditor has issued an unqualified opinion on the consolidated financial statements for both years[116]. - The board has established an audit committee consisting of three independent non-executive directors and one non-executive director to review the group's financial information and oversee financial reporting systems, risk management, and internal control systems[126].

Financial Performance - For the fiscal year ending December 31, 2025, the total revenue was HKD 231,043,000, a significant increase from HKD 77,544,000 in the previous year, representing a growth of 197%[6] - The cost of sales for the same period was HKD 221,523,000, compared to HKD 60,557,000 in the prior year, resulting in a gross profit of HKD 9,520,000, down from HKD 16,987,000, indicating a decline of 44%[6] - The total comprehensive loss for the year was HKD 63,922,000, a reduction from HKD 441,345,000 in the previous year, showing an improvement of 85%[7] - The company reported an operating loss before tax of HKD 60,877,000, compared to a loss of HKD 589,204,000 in the previous year, reflecting a significant decrease of 90%[6] - The company’s net loss attributable to owners of the company from continuing operations was HKD 46,625,000, compared to HKD 400,874,000 in the previous year, marking an improvement of 88%[7] - The company reported a profit attributable to owners of HKD 411,809 thousand for 2025, compared to a loss of HKD 1,449,914 thousand in 2024[8] - The basic loss per share from continuing and discontinued operations was HKD 0.10 for 2025, an improvement from HKD 3.07 in 2024[8] Assets and Liabilities - Non-current assets increased to HKD 6,151,789 thousand in 2025 from HKD 5,465,255 thousand in 2024, reflecting a growth of approximately 12.5%[9] - Current assets rose significantly to HKD 622,599 thousand in 2025, up from HKD 222,166 thousand in 2024, marking an increase of about 180%[9] - Total liabilities increased to HKD 2,177,713 thousand in 2025 from HKD 2,018,843 thousand in 2024, representing a growth of approximately 7.9%[10] - The company's equity attributable to owners increased to HKD 4,348,302 thousand in 2025, up from HKD 3,559,289 thousand in 2024, indicating a growth of around 22.2%[10] - Cash and cash equivalents surged to HKD 386,730 thousand in 2025, compared to HKD 65,784 thousand in 2024, reflecting a significant increase of approximately 485%[9] - The company reported a decrease in inventory to HKD 29,855 thousand in 2025 from HKD 10,335 thousand in 2024, which is a reduction of about 189%[9] Operational Focus and Strategy - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed in the earnings call[6] - The company is focused on the research and development of lithium-ion batteries for new energy vehicles, indicating a strategic shift towards sustainable technology[11] - The company plans to expand its market presence and explore potential mergers and acquisitions to enhance growth opportunities in the resource sector[11] - The company aims to enhance management techniques and advocate for effective material usage to control and improve the overall cost structure of lithium-ion battery products[57] - The company is committed to becoming a trusted green mineral resource supplier, contributing to sustainable development[134] - The company plans to strengthen ore selection and actively expand its customer base to effectively increase business scale and revenue[134] Segment Performance - The company has identified its operating segments, including mineral resource trading in China and lithium battery production, with a focus on strategic business units in Brazil and China[27][29] - The reported segment loss for lithium battery production is HKD 29,708,000, while the mineral resource trading segment shows a profit of HKD 11,072,000[30] - The lithium-ion battery segment recorded revenue of approximately HKD 25.7 million for the year ending December 31, 2025, a decrease of about 67% compared to the previous year's revenue of HKD 77.5 million[55] - The mining trading segment recorded revenue of approximately HKD 205 million for the fiscal year ending 2025, with 400,000 tons of bauxite delivered[70] Regulatory and Compliance - The group has adopted revised Hong Kong Financial Reporting Standards, effective from January 1, 2025, with no significant impact on accounting policies[17] - The amendments to Hong Kong Financial Reporting Standards No. 9 and No. 7 will first apply in the financial year starting January 1, 2026, and will be applied retrospectively[21] - The new Hong Kong Financial Reporting Standard No. 18 will replace Hong Kong Accounting Standard No. 1 and will first apply in the financial year starting January 1, 2027[22] - The group has assessed the impact of the new standards, particularly on the structure of the consolidated income statement and cash flow statement, with no significant impact on measurement but changes in presentation and disclosure[23] - The company emphasizes high standards of corporate governance, focusing on accountability and transparency for the benefit of shareholders[137] - The company has complied with the GEM Listing Rules on corporate governance, except for specific provisions regarding the separation of roles between the Chairman and CEO[138] Investment and Future Projects - The company has invested approximately USD 85.89 million in the SAM iron ore project, with a total investment of about USD 164.31 million including acquisition costs[71] - The SAM project aims to achieve an annual production capacity of 27.5 million tons of high-quality iron ore pellets, with iron content around 66.2%[72] - The project construction is estimated to take about three years, with commercial operations expected to begin in early 2033[84] - The company aims to explore new sustainable businesses related to its core operations to improve competitiveness and long-term profitability[136] Employee and Operational Efficiency - The total number of employees decreased to 114 from 164 in 2024, resulting in employee benefit costs of approximately HKD 31 million, down from HKD 58.1 million in 2024[125] - The company aims to enhance its internal management and improve operational efficiency and risk management capabilities[133] Agreements and Partnerships - The company has established a sales framework agreement with Zhejiang Geely to supply lithium-ion battery packs and related products, effective from September 11, 2023[100] - A purchasing framework agreement was established with Zhejiang Yaoning to buy lithium-ion batteries and modules, constituting a continuing connected transaction[105] - The company has also established a bauxite procurement framework agreement with Geely Technology Group, which will supply bauxite-related products starting from January 27, 2025[110]

Financial Performance - Revenue for the year ended December 31, 2025, was RMB 1,379,986,000, representing a 6.5% increase from RMB 1,295,563,000 in 2024[3] - Net profit for the year increased by 48.4% to RMB 177,944,000 from RMB 119,901,000 in the previous year[3] - Basic and diluted earnings per share rose by 65.1% to RMB 10.17 from RMB 6.16[6] - Gross profit for the year was RMB 520,132,000, compared to RMB 465,580,000 in 2024, reflecting a strong operational performance[5] - The company reported a total comprehensive income of RMB 182,134,000 for the year, up from RMB 103,675,000 in 2024[5] - The company's operating profit before tax for 2025 was RMB 231,692,000, compared to RMB 164,058,000 in 2024, indicating a year-over-year increase of about 41.1%[22] - The profit attributable to equity holders increased by approximately 65.0% to RMB 188,308,000, compared to RMB 114,136,000 in 2024[78] - The company's gross profit margin increased to 12.9% for the fiscal year ending December 31, 2025, compared to 9.3% in the previous year[104] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 10,758,847,000, a 4.2% increase from RMB 10,323,470,000 in 2024[3] - Total liabilities increased to RMB 8,865,498,000 in 2025 from RMB 8,612,255,000 in 2024, marking an increase of about 2.9%[22] - Current liabilities totaled RMB 3,349,755,000, slightly up from RMB 3,345,013,000 in the previous year[10] - The total current assets decreased from RMB 805,220,000 in 2024 to RMB 774,801,000 in 2025, a decline of approximately 3.8%[45] - The group's leverage ratio as of December 31, 2025, was 4.12, a decrease from 4.31 in the previous year[114] - The asset-liability ratio improved to 0.82 as of December 31, 2025, down from 0.83 in 2024, indicating a reduction of 1.2%[115] Revenue Segments - The revenue from the power generation segment was RMB 982,064,000 in 2025, up from RMB 756,231,000 in 2024, representing a growth of about 29.8%[23] - The EPC and consulting segment's revenue decreased by approximately 26.0% year-on-year to RMB 382,969,000, down from RMB 517,228,000 in 2024[79] - The financing business recorded revenue of RMB 14,953,000, a decrease of approximately 32.4% compared to RMB 22,104,000 in 2024, primarily due to reduced loan interest and fee income[87] Cash Flow and Expenditures - The company's total capital expenditure for the year 2025 was RMB 884,077,000, compared to RMB 1,247,940,000 in 2024, indicating a decrease of approximately 29.2%[22] - The group's capital expenditure for the year ended December 31, 2025, was RMB 903,075,000, down from RMB 1,589,657,000 in 2024[118] Credit and Receivables - Trade receivables and contract assets decreased to RMB 1,363,104,000 and RMB 200,009,000 respectively, compared to RMB 1,435,704,000 and RMB 218,457,000 in 2024[8] - The total amount of receivable loans decreased to RMB 7,551,000 in 2025 from RMB 10,558,000 in 2024, a decline of 28.4%[44] - The aging analysis of trade receivables shows that amounts overdue for more than 365 days decreased from RMB 780,298,000 in 2024 to RMB 387,217,000 in 2025, a decline of about 50.4%[48] - The company maintains strict control over overdue receivables and has a dedicated credit monitoring department to minimize credit risk[47] Market and Industry Trends - The renewable energy sector achieved a historic breakthrough in 2025, with renewable energy installations exceeding 60% of total capacity, marking a shift towards high-quality development[61] - In 2025, China's photovoltaic industry added 317 million kW of new installed capacity, a year-on-year increase of 14%[68] - The total installed capacity of photovoltaic power generation in China exceeded 1.2 billion kW by December 2025, representing a 35% year-on-year growth[68] - The new installed capacity of wind power in China reached 120 million kW in 2025, a significant year-on-year increase of 51%[70] Corporate Governance and Compliance - The audit committee has been formed in accordance with listing rules to oversee financial reporting and risk management[124] - The group reported a capital commitment for power plant construction of RMB 1,045,915,000 as of December 31, 2025, up from RMB 964,591,000 in 2024[118] - The company has established a strict code of conduct for directors trading its securities, ensuring compliance until December 31, 2025[123] Future Outlook - The company aims to enhance its operational capabilities and optimize revenue structures through market-oriented strategies in the evolving electricity market[93] - The domestic new energy storage market is projected to add approximately 80 GW/260 GWh in 2026, representing a year-on-year growth of over 60%, with direct investment exceeding RMB 250 billion[97] - The company plans to prioritize independent energy storage projects, offshore wind projects, and the construction of integrated wind-solar storage bases to strengthen its competitive advantage[93]

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佈的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 世 界（ 集 團 ）有限公 司 WORLD HOUSEWARE (HOLDINGS) LIMITED （於開曼群島註冊成立之有限公司） （股份代號：713） 截至二零二五年十二月三十一日止年度業績公佈 世界（集團）有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附屬 公司（「本集團」）截至二零二五年十二月三十一日止年度之經審計綜合財務業 績連同去年同期之比較數字如下： 綜合損益及其他全面收益表 截至二零二五年十二月三十一日止年度 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 營業額 | 2 | 242,901 | 318,280 | | 銷售成本 | | (221,638) | (285,074) | | 毛利 | | 21,263 | 33,206 | | 其他收入 | | 13,183 | 2 ...

Financial Performance - The company reported a total revenue of RMB 90.6 million for the year ending December 31, 2025, with other income and gains amounting to RMB 16.6 million, totaling RMB 107.2 million[3]. - The adjusted loss for the year, excluding share-based payment expenses and foreign exchange fluctuations, was RMB 162.4 million, a decrease of 11.3% compared to RMB 183.0 million in the previous year[4]. - The net cash flow used in operating activities was RMB 75.0 million, a significant decline of 65.5% from RMB 217.6 million in the previous year[4]. - The net loss for the year was RMB 272,704 thousand, compared to a loss of RMB 185,829 thousand in the previous year[18]. - The company reported a net loss attributable to equity holders of the parent of RMB 271,229,000 for the year ended December 31, 2025, compared to a loss of RMB 177,510,000 in 2024, representing an increase in loss of approximately 53%[19]. - The basic and diluted loss per share for the year was RMB 0.64, compared to RMB 0.43 in the previous year, indicating a worsening of the loss per share by approximately 49%[19]. - The group reported a pre-tax loss of RMB 78,762,000 for 2025, compared to RMB 70,318,000 in 2024[34]. - Research and development expenses increased to RMB 183,609,000 in 2025, up from RMB 142,637,000 in 2024[34]. - The financing cost increased from RMB 289,000 as of December 31, 2024, to RMB 867,000 during the reporting period, primarily due to rising interest rates on bank and other loans[93]. - The adjusted net loss under non-IFRS measures for 2025 is RMB 162.4 million, compared to RMB 183.0 million for 2024[96]. Product Development and Commercialization - The company is focusing on the commercialization of structural heart disease intervention products, with a strong emphasis on international expansion and the transformation of core technological achievements into market value[5]. - The LuX-Valve Plus product has accelerated its global clinical registration process, with successful FDA IDE approval for pivotal trials in the U.S. and ongoing CE certification in Europe[6]. - Ken-Valve has established a comprehensive sales network across hundreds of hospitals in China, achieving rapid sales and implantation growth in its first year of commercialization[9]. - The company aims to maintain its leading advantage in the tricuspid valve intervention field and advance the commercialization of core products in various regions[8]. - Ken-Valve successfully entered the overseas mature market after receiving approval from New Zealand's Medsafe in February 2026, marking a key breakthrough in its globalization strategy[10]. - The company is focused on continuous innovation and R&D to optimize its core product matrix, enhancing operational efficiency for global development[16]. - The company is focused on developing products for structural heart disease interventions, with a commitment to international expansion and a diverse product pipeline[44]. - The company has multiple products at various stages of commercialization and development, including those approved in China and New Zealand[45]. - The company has submitted applications for regulatory approvals, including CE certification and registration with the National Medical Products Administration in China[45]. - The company has established a comprehensive regional distribution network for the Ken-Valve product line, covering procurement platforms in 30 provinces in China[76]. Clinical Studies and Results - The TRINITY clinical study results, demonstrating the safety and efficacy of LuX-Valve Plus, will be presented at major international conferences, further supporting the company's position in the tricuspid valve replacement therapy field[7]. - Clinical data from JensClip demonstrated significant improvements in safety and efficacy, gaining widespread attention from global clinical experts[14]. - The TRINITY study included 161 patients across 20 global centers, demonstrating positive safety and clinical performance for LuX-Valve Plus in high-risk patients[53]. - The TRINITY study's 6-month follow-up results indicate a composite adverse event rate of 19.9% and 94.4% of patients showing no moderate or severe regurgitation[55]. - In the TRINITY study, over 75% of patients used valve sizes of 55mm to 70mm, with a significant improvement in heart function and quality of life observed[56]. - Ken-Valve has achieved a 97.18% device success rate with an average operation time of 8.70 minutes, and a one-year all-cause mortality rate of only 5.63%[61]. - JensClip's clinical study showed a device operation success rate of approximately 95% and an all-cause mortality rate of only 1.8% after one year of follow-up[66]. Financial Position and Assets - Total non-current assets decreased to RMB 275,623,000 in 2025 from RMB 341,710,000 in 2024, reflecting a decline of about 19%[20]. - Current assets also decreased to RMB 620,609,000 in 2025 from RMB 685,855,000 in 2024, a reduction of approximately 9.5%[20]. - The company's total liabilities increased, with current liabilities rising to RMB 105,871,000 in 2025 from RMB 64,201,000 in 2024, an increase of about 65%[20]. - The company's total equity decreased to RMB 773,126,000 in 2025 from RMB 916,953,000 in 2024, a decline of approximately 16%[21]. - The company reported an increase in trade payables to RMB 25,150,000 in 2025 from RMB 12,097,000 in 2024, which is an increase of about 108%[20]. - Cash and cash equivalents decreased by 16.3% from RMB 606.0 million as of December 31, 2024, to RMB 507.4 million as of December 31, 2025[98]. - The current ratio decreased from 10.7 in 2024 to 5.9 in 2025, while the debt-to-asset ratio increased from 10.8% to 13.7%[101]. - The total amount of bank and other borrowings decreased from RMB 60.3 million as of December 31, 2024, to RMB 43.8 million as of December 31, 2025[101]. Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions, except for a specific deviation regarding the roles of the chairman and CEO[118][119]. - The chairman and CEO roles were separated on January 15, 2025, to enhance corporate governance compliance[120]. - The audit committee, consisting of three independent non-executive directors, has reviewed the annual performance and confirmed compliance with applicable accounting standards[124][125]. - The company has received confirmation from all directors regarding compliance with the standard code of conduct for securities trading during the reporting period[122]. Employee and Shareholder Matters - The company has established a performance evaluation mechanism to assess employee performance, which influences salary adjustments and career development planning[109]. - The company adopted an employee incentive plan on October 30, 2020, and an H-share plan on December 15, 2023[110]. - The board of directors does not recommend the payment of a final dividend for the reporting period[114]. - The annual general meeting is scheduled for May 28, 2026, with a suspension of share transfer registration from May 22 to May 28, 2026[116][117].

Financial Performance - For the year ending December 31, 2025, the company reported a net loss of approximately RMB 68.4 million, a decrease of 26.7% compared to a net loss of RMB 93.3 million in 2024[4] - The basic and diluted loss per share for 2025 was RMB 0.29, compared to RMB 0.36 in 2024[4] - The net loss before tax for the group was RMB 96,003,000 in 2025, compared to RMB 93,324,000 in 2024, indicating a slight increase in losses[28] - The net loss for 2025 was RMB 68.4 million, a decrease from RMB 93.3 million in 2024, indicating an improvement in financial performance[65] Revenue and Sales - The company recorded revenue of RMB 44.9 million for the year, attributed to the launch of the Iberis® RDN system, which was approved for use in treating resistant hypertension[4] - Total revenue for 2025 reached RMB 44,932 thousand, with customer contract revenue from medical product sales contributing RMB 44,076 thousand[19] - Major customer A contributed RMB 42,472 thousand to the revenue in 2025, representing over 10% of total revenue[17] - The company reported revenue of RMB 44.9 million for 2025, a significant increase from RMB 0 in 2024, primarily driven by the commercialization of RDN products[54] Research and Development - Research and development expenses for the year were approximately RMB 61.9 million, an increase of 49.9% from RMB 41.3 million in 2024[4] - R&D expenses increased to RMB 61.9 million in 2025 from RMB 41.3 million in 2024, driven by higher third-party contract costs related to DCB and RDN product development[59] - The company is focused on research and development of its core product, Bioheart®, and related technologies[104] Assets and Liabilities - Total assets less current liabilities amounted to RMB 807.4 million as of December 31, 2025, compared to RMB 714.1 million in 2024[6] - The company’s total liabilities increased to RMB 25.0 million in 2025 from RMB 19.6 million in 2024[6] - The company’s non-current assets totaled RMB 450.6 million as of December 31, 2025, compared to RMB 434.7 million in 2024[6] - The company reported a significant increase in non-current liabilities, totaling RMB 195,348 thousand in 2025 compared to RMB 33,594 thousand in 2024[7] Cash Flow and Expenditures - Cash and cash equivalents as of December 31, 2025, were approximately RMB 92.3 million, a decrease of 54.4% from RMB 202.4 million as of December 31, 2024[4] - The net cash used in operating activities for the year ended December 31, 2025, was RMB 67.7 million, primarily due to R&D and administrative expenses[66] - The net cash used in investment activities was RMB 196.0 million, mainly due to the purchase of RMB 230.0 million in time deposits[67] - The company's capital expenditures significantly dropped from RMB 47.1 million in 2024 to RMB 7.6 million in 2025, primarily due to the completion of previous production facility purchases[68] Corporate Governance - The board recognizes the importance of good corporate governance and has adopted the corporate governance code as its own[95] - The audit committee, composed of three independent non-executive directors, is responsible for reviewing and supervising the company's financial reporting procedures and internal controls[99] - The annual performance of the group has been reviewed and deemed compliant with applicable accounting standards and regulations[100] Market and Product Development - The Iberis® RDN system completed its first commercial procedure in Europe in February 2025[4] - The company has successfully obtained market access for the Iberis® second-generation RDN system in multiple countries, including China, France, Germany, and Italy[51] - The Bioheart® BRS system is in the registration phase in China, with expected approval from the National Medical Products Administration in Q3 2026[45] - The company is focused on addressing unmet medical needs in coronary artery disease and resistant hypertension through innovative interventional cardiovascular devices[42] Employee and Operational Costs - Employee costs, excluding directors and key management personnel, increased to RMB 12,910,000 in 2025 from RMB 11,136,000 in 2024, reflecting a rise of 15.9%[23] - The company's total employee benefits expenses for the reporting period amounted to approximately RMB 129.1 million[76] - The company employed 65 full-time employees as of December 31, 2025, all based in China[76] Strategic Plans and Future Outlook - The company aims to become a globally recognized chronic disease management medical device platform, with a focus on advancing its core products and expanding its market presence[52] - The company plans to establish a new production facility in Jiaxing, Zhejiang Province, expected to be operational by 2026[50] - The company is actively seeking external collaborations, strategic investments, and acquisition opportunities to facilitate future expansion[58] Other Financial Information - The group reported a total of RMB 18,707,000 in other expenses for 2025, down from RMB 33,913,000 in 2024, reflecting a decrease of 44.7%[24] - Financial costs rose to RMB 8,742,000 in 2025 from RMB 64,000 in 2024, marking a substantial increase due to interest on redeemable liabilities[25] - The group has unrecognized deferred tax assets amounting to RMB 785,223,000 as of December 31, 2025, down from RMB 826,103,000 in 2024[29] - The company recorded a tax credit of RMB 27.6 million for the year 2025, compared to none in 2024[64]