Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 2,056.0 million, a decrease of 9.4% or RMB 213.8 million compared to RMB 2,269.8 million for the year ended December 31, 2024[4]. - Net profit for the year ended December 31, 2025, was RMB 31.6 million, an increase of 2.3% or RMB 0.7 million from RMB 30.9 million for the year ended December 31, 2024, primarily due to reduced financial costs and administrative expenses[4]. - Total comprehensive income for the year ended December 31, 2025, was RMB 33.7 million, compared to RMB 24.5 million for the year ended December 31, 2024[6]. - The group’s profit before tax for 2025 was RMB 41,816,000, a decrease of 14.5% compared to RMB 49,078,000 in 2024[30]. - The pre-tax profit for the period was RMB 41.8 million, a decrease of RMB 7.3 million or 14.9% compared to RMB 49.1 million in 2024, mainly due to reduced gross profit[57]. Revenue Breakdown - Revenue from offline channels was RMB 1,338,874, while online channels generated RMB 709,108, indicating a shift in sales dynamics[13][15]. - The main brand GXG's sales revenue decreased by 7.3% or RMB 151.7 million to RMB 1,926.8 million, primarily due to strategic adjustments in offline channel structure and adverse weather conditions[39]. - Online channel sales revenue decreased by 13.5% or RMB 110.5 million to RMB 709.1 million[42]. - Sales revenue from gxg.kids decreased by 58.1% or RMB 7.9 million, primarily due to strategic adjustments in brand positioning[40]. Cost Management - Financial costs decreased to RMB 25.9 million for the year ended December 31, 2025, down from RMB 53.2 million in the previous year[4]. - Administrative expenses were reduced to RMB 168.6 million for the year ended December 31, 2025, compared to RMB 210.5 million for the year ended December 31, 2024[4]. - The total administrative expenses decreased by RMB 41.9 million or 19.9% to RMB 168.6 million compared to RMB 210.5 million in 2024, with the percentage of total revenue decreasing from 9.3% to 8.2%[53]. - The financial costs for the period decreased by RMB 27.3 million or 51.3% to RMB 25.9 million compared to RMB 53.2 million in 2024, attributed to reduced bank loans and effective cost control[56]. Asset and Liability Management - Non-current assets totaled RMB 861.3 million as of December 31, 2025, a decrease from RMB 892.8 million as of December 31, 2024[7]. - Current assets decreased to RMB 1,090.6 million as of December 31, 2025, from RMB 1,717.7 million as of December 31, 2024[7]. - The total liabilities decreased significantly, with current liabilities totaling RMB 1,117.1 million as of December 31, 2025, down from RMB 1,746.0 million in the previous year[7]. - The company's equity increased to RMB 769.1 million as of December 31, 2025, compared to RMB 735.5 million as of December 31, 2024[8]. - The debt-to-asset ratio decreased to 21.1% as of December 31, 2025, from 34.6% in 2024, primarily due to a reduction in pledged deposits[63]. Operational Efficiency - The gross margin for self-operated stores increased by 2.7 percentage points from 70.3% in 2024 to 73.0% in 2025, reflecting improved operational efficiency and cost control measures[4]. - The cost of sold inventory decreased to RMB 1,012,407,000 in 2025 from RMB 1,080,489,000 in 2024, reflecting a reduction of approximately 6.3%[24]. - The gross profit for the total segments was RMB 1,048,409, compared to RMB 1,198,950 in 2024, reflecting a decrease of about 12.6%[13][15]. - Total gross profit for the period was RMB 1,048.4 million, a decrease of RMB 150.5 million or approximately 12.5% compared to RMB 1,198.9 million in 2024, with a gross margin of 51.0%[49]. Strategic Focus - The company continues to focus on both offline and online sales channels, with a strategic emphasis on managing its retail network effectively[12]. - The company plans to enhance product design positioning and improve brand promotion accuracy to increase brand awareness and influence[38]. - The company aims to develop new brands and expand their market share as part of its future strategy[38]. - The company will continue to implement cost control measures to mitigate the adverse impact of external market conditions on its performance[37]. Employee and Governance - As of December 31, 2025, the total employee cost was RMB 90.2 million, an increase from RMB 84.9 million in 2024, representing 4.4% of the group's revenue compared to 3.7% in 2024[71]. - The total number of employees decreased to 404 as of December 31, 2025, from 467 as of December 31, 2024[71]. - The company has adopted the Corporate Governance Code and complied with all applicable provisions for the year ended December 31, 2025[73]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial performance for the year ended December 31, 2025, ensuring compliance with applicable accounting principles[76]. Dividend and Shareholder Information - The group did not recommend any final dividend for the year, consistent with 2024[31]. - The board did not recommend any final dividend for the year ended December 31, 2025[72]. - The company will send the annual report for the year ended December 31, 2025, to shareholders in due course[78]. - The financial information provided does not constitute audited accounts but is extracted from the consolidated financial statements reviewed by the auditor[77].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Sinco Pharmaceuticals Holdings Limited 興科蓉醫藥控股有限公司 （根 據 開 曼 群 島 法 例 註 冊 成 立 的 有 限 公 司） （股 份 代 號：6833） 截 至2025年12月31日止年度的 年度業績公告 財務摘要 – 1 – • 報 告 期 內，本 集 團 收 益 減 少26.1%或人民幣736.7百萬元至人民幣2,084.6 百萬元（2024年：人 民 幣2,821.3百 萬 元），其 中 人 血 白 蛋 白 注 射 液 銷 售 收 益減少約人民幣720.0百 萬 元，主 要 由 於 銷 售 量 減 少。 • 報 告 期 內，本 集 團 毛 利 減 少 人 民 幣77.8百萬元至人民幣222.1百萬元（2024 年：人 民 幣299.9百 萬 元）。報 告 期 內，毛 利 率 為10.7%（20 ...

Financial Performance - For the fiscal year ending December 31, 2025, the company's revenue was approximately HKD 5,180.2 million, representing a year-on-year increase of 1.6% compared to the adjusted revenue of HKD 5,089.7 million for 2024[2]. - The company reported a profit attributable to shareholders of approximately HKD 120.4 million, reversing a loss of HKD 3,942.2 million in the same period last year[3]. - Basic earnings per share for the fiscal year ending December 31, 2025, was HKD 0.62, compared to a basic loss per share of HKD 20.25 for the fiscal year ending December 31, 2024[3]. - The gross profit for the fiscal year was HKD 793.8 million, compared to a gross loss of HKD 327.9 million in the previous year[3]. - The total comprehensive income for the year was HKD 274.5 million, a significant recovery from a loss of HKD 4,052.1 million in the previous year[4]. - The company reported a profit before tax of HKD 156,867 for 2025, compared to a loss of HKD 3,871,395 in 2024[17]. - The group recorded total revenue of approximately HKD 5,180.2 million, a decrease of 7.3% from HKD 5,589.7 million in the previous year, primarily due to the strategic sale of the precision components business[68]. - The group achieved a gross profit of approximately HKD 793.8 million, with a gross profit margin of 15.3%, reversing from a gross loss of HKD 328.0 million and a gross loss margin of 5.9% in the previous year[69]. Assets and Liabilities - Non-current assets totaled HKD 2,689.6 million, slightly down from HKD 2,716.4 million in the previous year[5]. - Current assets amounted to HKD 4,374.7 million, with a net current asset value of HKD 1,105.9 million, up from HKD 777.3 million in the previous year[5]. - The total assets for the year 2025 amount to HKD 7,064,367, a slight decrease from HKD 7,154,236 in 2024[19]. - The total liabilities for 2025 are HKD 3,912,932, down from HKD 4,249,393 in 2024, indicating a reduction of 7.9%[19]. - Non-current liabilities increased to HKD 644,070,000 in 2025 from HKD 588,875,000 in 2024, representing a growth of 9.4%[6]. - Net asset value rose to HKD 3,151,435,000 in 2025, up from HKD 2,904,843,000 in 2024, indicating an increase of 8.5%[6]. - Total equity attributable to owners increased to HKD 2,827,594,000 in 2025 from HKD 2,605,518,000 in 2024, reflecting a growth of 8.5%[6]. Cost Management - The company experienced a decrease in sales costs to HKD 4,386.5 million from HKD 5,917.7 million in the previous year, indicating improved cost management[3]. - The company reported a significant reduction in administrative expenses to HKD 652.6 million from HKD 1,115.2 million in the previous year, reflecting operational efficiency improvements[3]. - Financial expenses decreased from HKD 96,618,000 in 2024 to HKD 49,796,000 in 2025, representing a reduction of approximately 48.7%[30]. - Employee benefits expenses, excluding directors' remuneration, decreased from HKD 1,266,411,000 in 2024 to HKD 1,082,964,000 in 2025, a reduction of approximately 14.5%[31]. - Selling and distribution expenses decreased by approximately 24.5% to about HKD 49.7 million, accounting for about 1.0% of total revenue, down from 1.2% in the previous year[71]. - General and administrative expenses decreased by approximately 41.5% to about HKD 652.6 million, representing 12.6% of total revenue, down from 20.0% in the previous year[72]. Revenue Segmentation - The revenue from consumer electronics components is HKD 4,042,760 for 2025, down from HKD 4,536,043 in 2024, representing a decline of 10.9%[17]. - The revenue from home and sports goods is HKD 1,137,475 for 2025, an increase of 7.9% compared to HKD 1,053,696 in 2024[17]. - The consumer electronics components segment recorded sales of approximately HKD 4,042.7 million, accounting for about 78.0% of total revenue, a decrease of approximately 10.9% compared to HKD 4,536.0 million in the same period last year[61]. - The home and sports goods segment achieved sales of approximately HKD 1,137.5 million, representing an annual growth of about 8.0% from HKD 1,053.7 million, and accounted for approximately 22.0% of total revenue, serving as a major growth engine for the group[62]. Strategic Initiatives - The company maintains its primary business in manufacturing and selling mobile phone cases and precision components, with no significant changes in business nature during the year[7]. - The company plans to focus R&D resources on high-growth areas, particularly in mid-to-high-end mobile component solutions and the home and sports products business[57]. - The group plans to focus on strategic breakthroughs in the mobile business by developing fiberglass casing solutions for mid-to-high-end smartphones, enhancing product pricing power and profit levels[63]. - The group aims to deepen strategic cooperation with multinational brands in the home and sports business, leveraging material innovation and intelligent manufacturing to ensure stable operational quality during scale expansion[64]. - The company has strengthened its global production system to better meet international customer demands, enhancing resilience against geopolitical and tariff risks[56]. Shareholder and Governance Matters - The company did not recommend a final dividend for the fiscal year ending December 31, 2025[2]. - The company did not recommend a final dividend for the year ending December 31, 2025, consistent with the previous year[46]. - The company has complied with all corporate governance codes, although there are deviations regarding the separation of roles between the chairman and the CEO[108]. - The board believes that the current structure allows for effective decision-making and execution of long-term business strategies[110]. - The audit committee consists of three independent non-executive directors and one non-executive director, ensuring compliance with accounting standards and effective risk management[111]. Future Outlook - The cash flow forecast indicates a compound annual growth rate (CAGR) for revenue growth between 2.0% and 5.0% for the five years ending December 31, 2025, compared to 2.2% to 9.2% for the previous year[76]. - The company has no immediate plans for significant investments or acquisitions of major capital assets as of December 31, 2025[88]. - The company has no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[85]. - There are no significant events after the financial year ending December 31, 2025, up to the announcement date[117].

Financial Performance - Revenue for the year ended December 31, 2025, was HKD 1,081.4 million, a 2.3% increase from HKD 1,056.0 million in 2024[3] - Profit attributable to shareholders for 2025 was HKD 1.7 million, compared to a loss of HKD 32.1 million in 2024[3] - Basic and diluted earnings per share for 2025 were HKD 0.21, recovering from a loss of HKD 4.01 per share in 2024[5] - The total segment profit for the year 2025 was HKD 73,915,000, compared to HKD 29,708,000 in 2024, indicating a substantial increase of 148.5%[20] - The group reported a pre-tax profit of HKD 2,680,000 for the year ended December 31, 2025, compared to a pre-tax loss of HKD 38,450,000 in 2024[20] - Pre-tax profit for 2025 was HKD 1,698,000, a significant recovery from a loss of HKD 32,062,000 in 2024[30] - The group recorded a profit of approximately HKD 1.7 million for the year ending December 31, 2025, compared to a loss of approximately HKD 32.1 million for the year ending December 31, 2024[50] Assets and Liabilities - Total assets decreased to HKD 696,642 million in 2025 from HKD 786,006 million in 2024, reflecting a decline of approximately 11.4%[6] - Current liabilities exceeded current assets by approximately HKD 48.36 million in 2025, compared to HKD 93.11 million in 2024[10] - Non-current liabilities decreased to HKD 196.60 million in 2025 from HKD 233.93 million in 2024, a reduction of about 16%[7] - The total liabilities of the group as of December 31, 2025, were HKD 462,085,000, a decrease from HKD 553,141,000 in 2024[22] - Trade receivables as of December 31, 2025, totaled HKD 6,937,000, an increase from HKD 6,344,000 in 2024[33] - Trade payables amounted to HKD 50,964,000 in 2025, down from HKD 54,826,000 in 2024[35] - Total liabilities and accrued expenses were HKD 137,526,000 in 2025, down from HKD 164,203,000 in 2024[37] Revenue Segmentation - The restaurant operations segment generated revenue of HKD 1,080,646,000, up from HKD 1,049,503,000 in the previous year, reflecting a growth of 3.0%[15] - The sales of ingredients and other segment reported revenue of HKD 732,000, a significant decrease from HKD 6,489,000 in 2024[15] - The revenue from self-owned brands increased by approximately 11.2% or about HKD 30.2 million to approximately HKD 301.5 million, compared to approximately HKD 271.3 million for the previous year[44] - The revenue from franchised brands slightly increased by approximately 0.1% or about HKD 0.8 million to approximately HKD 779.1 million, despite a decrease in the number of franchised restaurants from 46 to 40[44] Cost Management - The company reported a decrease in food and beverage costs to HKD 314.97 million in 2025 from HKD 319.70 million in 2024[5] - The cost of food and beverages decreased by approximately 1.5% or about HKD 4.7 million to approximately HKD 315.0 million, with the cost as a percentage of revenue decreasing to approximately 29.1% from 30.3%[47] - Employee costs increased slightly by approximately 0.4% or about HKD 1.5 million to approximately HKD 379.4 million, with the percentage of employee costs to revenue decreasing to approximately 35.1% from 35.8%[48] Operational Overview - The company operates full-service restaurants primarily serving Asian cuisine, particularly Japanese and Cantonese dishes[8] - The group operates primarily in Hong Kong, with all revenue generated from this market[18] - The group operated 21 self-owned restaurants and 40 franchised restaurants as of December 31, 2025, compared to 17 self-owned and 46 franchised restaurants in the previous year[43] - The company has no external borrowings and expects to have sufficient working capital to meet its financial obligations over the next twelve months[10] - The group maintained a healthy cash flow with zero bank borrowings, supporting future strategic investments and transformations[40] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and believes it has complied with most of the best practices, except for the separation of the roles of Chairman and CEO[69] - The Chairman and CEO, Mr. Huang, currently holds both positions, which the board believes is beneficial for the company's continuity and overall interests[70] - The company has confirmed compliance with the standard code for securities trading by all directors for the year ending December 31, 2025[71] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated annual results for the year ending December 31, 2025, ensuring compliance with applicable accounting standards[73] Future Outlook - The group plans to focus on the mid-priced market and enhance its product strategy while exploring expansion opportunities both locally and internationally[63] - The management team aims to streamline internal processes and develop effective operational and promotional strategies to improve operational efficiency and market responsiveness[64] - The introduction of the Japanese food brand "Yamamoto Hamburger" in February 2026 aims to enhance the group's brand portfolio focused on "affordable luxury" dining experiences[41] Dividend Policy - The company did not recommend a final dividend for the year ending December 31, 2025, while the final dividend for 2024 was HKD 0.0406 per share[31] - The board has decided not to recommend the payment of a final dividend for the year ending December 31, 2025, considering the company's dividend policy and profit situation[66]

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，並明確表示概不會就本公告全部或任何部份內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 DEVGREAT GROUP LIMITED 大方廣瑞德集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：755） 年度業績公告 截至二零二五年十二月三十一日止年度 綜合收益表 | | | 截至十二月三十一日止年度 | | | --- | --- | --- | --- | | | 附註 | 二零二五年 | 二零二四年 | | | | 千港元 | 千港元 | | 持續經營業務 | | | | | 收入 | 5 | 183,040 | 204,651 | | 收入成本 | 7 | (135,331) | (128,097) | | 毛利 | | 47,709 | 76,554 | | 其他收入、收益及虧損 | 6 | 53,094 | 14,456 | | 出售附屬公司之收益 | | – | 133,528 | | 金融資產減值虧損淨額 | | (76,194) | (673) | | 財務擔保撥備 ...

Financial Performance - The company's revenue for the year ended December 31, 2025, was approximately HKD 280.8 million, a decrease of about HKD 134.5 million or 32.4% compared to the previous year[3]. - Gross profit for the same period increased to HKD 36.4 million, representing a growth of 58.1% from HKD 23.1 million in 2024[3]. - Profit attributable to the owners of the company surged to approximately HKD 15.7 million, an increase of 657.0% from HKD 2.1 million in the prior year[3]. - The group reported a profit before tax of HKD 17,175,000 for 2025, compared to HKD 2,538,000 in 2024, representing a significant increase[19]. - Profit for the current year increased significantly by approximately 657.0% to about HKD 15.7 million, with a net profit margin of approximately 5.6%[42]. Dividends - The board proposed a final dividend of HKD 0.02 per share, totaling HKD 28.9 million, compared to HKD 14.5 million in 2024[3]. - The group has proposed a final dividend of HKD 0.02 per share, totaling HKD 28,905,000, pending shareholder approval[22]. - The proposed final dividend is subject to approval at the 2026 Annual General Meeting, with a record date of May 28, 2026[66]. Assets and Liabilities - Total assets decreased to HKD 259.1 million from HKD 346.5 million in 2024, while total liabilities also decreased to HKD 119.9 million from HKD 207.9 million[5]. - The company's net asset value stood at HKD 149.9 million, slightly down from HKD 150.2 million in the previous year[6]. - Total trade payables and other payables decreased to HKD 118,326,000 in 2025 from HKD 204,769,000 in 2024, representing a reduction of approximately 42.3%[30]. - Contract liabilities at year-end 2025 were HKD 1,539,000, down from HKD 2,538,000 in 2024, indicating a decrease of approximately 39.4%[32]. - The company has secured bank financing of HKD 73,700,000 against pledged assets, down from HKD 83,700,000 in 2024[33]. Revenue Segments - Revenue from the building services engineering segment was HKD 267,842,000 for 2025, down 33.4% from HKD 402,315,000 in 2024[16]. - Major customers contributing over 10% of revenue included Customer A with HKD 55,724,000 and Customer B with HKD 44,072,000 in 2025[18]. - The expected revenue recognition for uncompleted customer contracts as of December 31, 2025, is HKD 142,162,000, down from HKD 285,227,000 in 2024[13]. Expenses - Administrative expenses decreased to HKD 21.6 million from HKD 22.4 million in the previous year[4]. - Total employee costs for 2025 were HKD 65,818,000, an increase from HKD 63,365,000 in 2024[19]. - The group incurred administrative expenses of HKD 21,570,000 in 2025, slightly lower than HKD 22,361,000 in 2024[16]. - Other income and gains increased by approximately 39.1% from about HKD 2.3 million for the year ended December 31, 2024, to approximately HKD 3.2 million for the current year[40]. Share Capital and Governance - The issued share capital as of December 31, 2025, was HKD 14,452,300, with a total of 1,445,230,000 shares outstanding[48]. - The company repurchased a total of 19,370,000 ordinary shares at a total cost of approximately HKD 1,426,000, reducing the total issued shares to 1,445,230,000[62]. - The group maintains good corporate governance practices to enhance accountability and transparency[56][57]. - The external auditor, Li Xin De Hao, will be proposed for reappointment at the 2026 annual general meeting[64]. Operational Focus - The company continues to focus on its core business operations while exploring potential market expansion opportunities[7]. - The company’s main business involves providing engineering services for building services systems, including mechanical ventilation and air conditioning systems, electrical systems, plumbing and drainage systems, and fire protection systems[34]. - The group’s operations are solely based in Hong Kong, with no revenue generated from other regions[17]. Future Outlook - The company anticipates that contract assets will be realized within its normal operating cycle, indicating a focus on maintaining liquidity and operational efficiency[29]. - As of December 31, 2025, the group has no significant capital commitments or future plans for major investments[49][51]. - The group has no significant contingent liabilities as of December 31, 2025[53]. - The company has not made any significant investments outside of its subsidiaries during the year[55]. Audit and Reporting - The audit committee has reviewed the audited consolidated financial statements for the year, confirming compliance with applicable accounting standards and listing rules[67]. - The financial figures in the preliminary announcement are consistent with the audited consolidated financial statements[68]. - The annual results announcement will be published on the company's website and the Hong Kong Stock Exchange website, with the annual report to be released in April 2026[69].

Financial Performance - The company's revenue for the fiscal year ending December 31, 2025, was approximately RMB 54.4 billion, representing an increase of about 8.1% compared to RMB 50.34 billion in the previous year[4]. - Gross profit for the fiscal year was approximately RMB 3.66 billion, up about 4.8% from RMB 3.49 billion in the prior year[4]. - The profit attributable to equity holders was approximately RMB 361 million, reflecting a growth of about 24.7% from RMB 290 million in the previous year[4]. - Basic earnings per share for the year were RMB 0.33, compared to RMB 0.26 in the previous year[4]. - The board proposed a final dividend of HKD 0.056 per share, an increase from HKD 0.043 in the previous year, with a total distribution of approximately HKD 61.8 million[4]. - The company reported a net income of 1,200,000 thousand, which is a 10% increase compared to the previous year[6]. - The group recorded a revenue of approximately RMB 54.4 billion for the year, with a profit attributable to shareholders of about RMB 361 million[42]. - The group's total revenue increased by approximately 8.1% to about RMB 54.4 billion, compared to RMB 50.34 billion in the previous year[47]. - Gross profit rose by approximately 4.8% to about RMB 3.657 billion, with a gross margin of approximately 6.7%[47]. - The group's pre-tax profit was approximately RMB 619.17 million, an increase of about 16.6% from RMB 531.07 million in 2024[76]. Assets and Liabilities - Total non-current assets increased to 6,512,314 thousand from 6,358,480 thousand, reflecting a growth of approximately 2.4% year-over-year[6]. - Current assets rose to 17,332,180 thousand, compared to 18,529,738 thousand, indicating a decrease of about 6.5% year-over-year[6]. - Total assets amounted to 23,844,494 thousand, a slight decrease from 24,888,218 thousand, reflecting a decline of approximately 4.2% year-over-year[6]. - Total liabilities were reported at 10,000,000 thousand, compared to 10,500,000 thousand, indicating a reduction of about 4.8%[6]. - The company’s equity increased to 13,844,494 thousand, up from 14,388,218 thousand, indicating a decrease of about 3.8% year-over-year[6]. - The total liabilities as of December 31, 2025, amounted to RMB 14,328,974,000, an increase from RMB 13,669,344,000 in the previous year, representing a growth of approximately 4.8%[7]. - The total equity attributable to shareholders was RMB 6,370,866,000, down from RMB 6,649,980,000, reflecting a decrease of approximately 4.2%[7]. - The net current assets decreased to RMB 3,662,836,000 from RMB 4,200,764,000, indicating a decline of about 12.8% year-over-year[7]. Revenue Breakdown - Revenue from lead-acid batteries for electric vehicles was RMB 19,957,370,000 in 2025, compared to RMB 18,479,431,000 in 2024, indicating a growth of about 8.0%[17]. - Lithium-ion battery revenue was RMB 263,824,000 in 2025, down from RMB 625,142,000 in 2024, reflecting a decline of approximately 57.8%[17]. - The lead-acid battery sales revenue reached approximately RMB 28.816 billion, accounting for about 53.0% of the total revenue of the group[52]. - Sales revenue from electric bicycle batteries was approximately RMB 19.957 billion, representing about 36.7% of the total revenue[52]. - The sales revenue from electric vehicle batteries and special-purpose electric vehicle batteries was approximately RMB 8.858 billion, making up about 16.3% of the total revenue[52]. Taxation and Expenses - The effective tax rate for the company is 25%, with certain subsidiaries qualifying for a reduced rate of 15% as high-tech enterprises[25]. - The corporate income tax rate for subsidiaries established in China is 25% for the year ending December 31, 2025, consistent with 2024[26]. - The income tax expense for the year is RMB 103,141,000, slightly down from RMB 106,157,000 in the previous year[29]. - The group's income tax expense decreased to approximately RMB 103,141,000 this year, a reduction of about 2.8% compared to RMB 106,157,000 in the previous year, with an effective tax rate of approximately 16.7%[77]. Research and Development - The group has invested approximately RMB 1.408 billion in R&D, accounting for about 2.6% of total revenue[65]. - Research and development expenses were approximately RMB 1.41 billion, an increase of about 2.1% from RMB 1.38 billion in 2024, driven by increased R&D spending on lead-acid batteries and other new technology products[74]. - The group plans to strengthen core technologies in lead-acid batteries while accelerating breakthroughs in lithium and sodium battery technologies as part of its future development strategy[67]. Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting and internal control systems[88]. - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the year[86]. - Ernst & Young has confirmed that the financial statements align with the audited financial results for the year[89]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[86]. Market Trends and Innovations - The demand for sodium batteries has rapidly increased, with significant progress in standardization, creating new business opportunities for the group[44]. - The electric bicycle market in China is expected to reach a social ownership of approximately 380 million units by the end of 2025[48]. - The group is focusing on technological innovation and expanding overseas markets to build a global renewable energy platform[46]. - The lead-acid battery market is expected to maintain stable demand due to its cost-effectiveness and high recycling rate, particularly in the electric bicycle sector[50]. - The company launched the "Super Sodium Battery" product in September 2025, marking a significant milestone in China's sodium battery technology[56]. Customer Relations and Sales Strategy - The company offers a credit period of 45 to 90 days to customers with good credit records, otherwise requiring prepayment before delivery[18]. - The group maintains a credit period of 45 to 90 days for well-performing customers, with cash sales for others[34]. - The company has established a standardized recycling network covering major cities in China, with over 65 transfer stations set up in various provinces[60]. - The sales and distribution network covers both first-tier and second-tier markets across China, ensuring comprehensive service from pre-sales to after-sales[61]. Future Outlook - The company plans to expand its market presence and invest in new technology development to drive future growth[6]. - The implementation of the new national standard is expected to stimulate significant replacement demand in the existing market, injecting new growth momentum into the industry[49]. - The group aims to advance its "Zero Carbon" strategy by developing sodium salt battery technologies and enhancing digitalization across its value chain[68].

Financial Performance - The group's revenue for the year ended December 31, 2025, was HKD 4,031,329,000, representing an increase from HKD 3,841,472,000 in 2024, which is approximately a 4.9% growth[4] - The gross profit for 2025 was HKD 683,173,000, down from HKD 807,854,000 in 2024, indicating a decline of about 15.4%[4] - The total comprehensive loss for the year was HKD 282,704,000, compared to a loss of HKD 83,853,000 in 2024, reflecting a significant increase in losses[5] - The basic loss per share for the year was HKD 5.37 cents, compared to HKD 1.73 cents in 2024, indicating a worsening of per-share losses[5] - The company reported a pre-tax loss of HKD 500,862 thousand, indicating challenges in operational performance[12] - The group reported a pre-tax loss of HKD 165,529,000 for 2025, compared to a loss of HKD 53,307,000 in 2024[21] - The net loss for the year was HKD 282,704,000, an increase from the net loss of HKD 83,853,000 in 2024, primarily due to a decline in the fair value of investment properties[27] - Shareholders' attributable loss increased by 210.52% to HKD 165,529,000 from HKD 53,307,000 in 2024[28] - Basic loss per share was HKD 0.0537, up 210.40% from HKD 0.0173 in 2024[28] Revenue and Segments - Total revenue for the technology segment reached HKD 3,851,485 thousand, with a gross profit of HKD 138,326 thousand, resulting in a net loss of HKD 37,769 thousand[12] - The aerospace services segment reported total revenue of HKD 173,132 thousand, with a gross profit of HKD 4,411 thousand, leading to a significant net loss of HKD 490,584 thousand[12] - The overall revenue for the reporting segments amounted to HKD 4,024,617 thousand, with a gross profit of HKD 142,737 thousand, resulting in a net loss of HKD 452,815 thousand[12] - The technology segment's sales included HKD 1,749,686 thousand from plastic products and HKD 594,349 thousand from liquid crystal displays, contributing significantly to the overall revenue[12] - The revenue from the Intelligent Power Module business saw a significant increase of 369.22%, reaching HKD 81,757,000 in 2025[36] - The revenue from the LCD business decreased by 8.69%, totaling HKD 594,349,000 in 2025[33] - The revenue from the Intelligent Charger business was HKD 281,030,000, a slight decrease of 1.48% compared to the previous year[33] Expenses and Costs - The company reported a decrease in selling and distribution expenses to HKD 60,634,000 from HKD 85,631,000, a reduction of approximately 29.2%[4] - Research and development expenses were slightly reduced to HKD 188,682,000 from HKD 189,661,000, showing a marginal decrease[4] - Financial expenses amounted to HKD 48,409 thousand, impacting the overall profitability of the company[12] - The total employee costs, including directors' remuneration, were HKD 832,797,000, slightly down from HKD 839,757,000 in 2024[17] - The company recognized a provision for litigation of HKD 10,630,000 during the year[16] Assets and Liabilities - Total assets increased to HKD 12,904,131,000 in 2025 from HKD 12,632,132,000 in 2024, representing a growth of 2.15%[7] - The total liabilities of the company increased, impacting the overall financial health, although specific figures were not disclosed in the provided content[4] - Current liabilities grew to HKD 1,639,062,000 in 2025, slightly down from HKD 1,649,182,000 in 2024, a decrease of 0.26%[7] - Total liabilities decreased to HKD 3,699,627,000 in 2025 from HKD 3,515,843,000 in 2024, a reduction of 5.22%[8] - The company's total liabilities as of December 31, 2025, were HKD 5,338,689,000, an increase of 3.36% from HKD 5,165,025,000 in 2024, with non-current liabilities increasing mainly due to long-term bank loans[65] Strategic Focus and Future Outlook - The company is focusing on new product development and market expansion strategies to improve future performance, although specific details were not provided in the content[4] - The company is focusing on advanced manufacturing and modern service industries to enhance core competitiveness and sustainable operational capabilities[32] - The company plans to optimize operational services and expand its tenant base in response to ongoing market challenges in the Shenzhen office leasing market[44] - The company aims to enhance core competitiveness and operational efficiency through continuous market expansion and optimization of production processes in 2026[39] - The company plans to focus on technology innovation and increase R&D investment to accelerate the transformation of core technologies into marketable products[39] Other Financial Information - The company decided not to declare a final dividend for the year ending December 31, 2025, consistent with the previous year[29] - The company has decided not to recommend the payment of a final dividend for the year ending December 31, 2025, with no dividend for 2024 either[76] - The annual general meeting is scheduled for June 18, 2026[78] - The audit committee has reviewed and approved the financial results for the year ending December 31, 2025[75]

Financial Performance - Revenue decreased by approximately 1.7% to about RMB 3,152.8 million compared to RMB 3,207.7 million in the fiscal year 2024[3] - Gross profit decreased by approximately 9.3% to about RMB 1,055.1 million compared to RMB 1,163.1 million in the fiscal year 2024[3] - Profit attributable to owners of the company decreased by approximately 6.1% to about RMB 529.3 million compared to RMB 563.5 million in the fiscal year 2024[3] - Basic earnings per share decreased by 5.4% to approximately RMB 0.53 compared to RMB 0.56 in the fiscal year 2024[3] - Total comprehensive income for the year amounted to RMB 659.1 million, compared to RMB 423.1 million in the previous year[5] - The pre-tax profit for 2025 was RMB 529,340,000, down 6.0% from RMB 563,454,000 in 2024[25] - Gross profit margin for fiscal year 2025 was 33.5%, down from 36.3% in fiscal year 2024, with gross profit decreasing by approximately 9.3% to RMB 1,055.1 million[45] Dividends - Proposed final dividend is HKD 0.30 per share[3] - The proposed final dividend for 2025 is RMB 265,899,000, compared to RMB 280,803,000 in 2024, indicating a decrease of 5.3%[22] - The proposed final dividend for the fiscal year 2025 is HKD 0.30 per share, with a total payout ratio of 84.9% based on the net profit of RMB 527.2 million[61] - The board proposed a final dividend of HKD 0.30 per share for the fiscal year 2025, subject to shareholder approval at the annual general meeting on June 4, 2026[74] Capital Expenditure - Capital expenditure increased by approximately 23.6% to about RMB 317.3 million compared to RMB 256.8 million in the fiscal year 2024[3] - Capital expenditures for fiscal year 2025 totaled approximately RMB 317.3 million, compared to RMB 256.8 million in 2024, focused on expanding production facilities in China and Mexico[59] - The company has committed capital expenditures of RMB 166.178 million for the acquisition of properties, plants, and equipment as of December 31, 2025[55] Revenue Breakdown - Revenue from China decreased to RMB 1,063,329,000 in 2025 from RMB 1,147,391,000 in 2024, representing a decline of 7.3%[13] - Revenue from North America increased to RMB 1,595,017,000 in 2025, up 4.0% from RMB 1,533,273,000 in 2024[13] - In the fiscal year 2025, total revenue from North America increased to RMB 1,595,017 thousand, representing 50.6% of total revenue, up from 47.8% in fiscal year 2024[43] - Revenue from China decreased by approximately RMB 84.1 million, a decline of 7.3%, with total revenue at RMB 1,063,329 thousand, accounting for 33.8% of total revenue[43] - European revenue fell by 10.2% year-on-year to RMB 313,640 thousand, primarily due to a 14.5% decrease in sales volume, partially offset by a 5.1% increase in average selling price[43] Employee Costs - Employee costs increased by 10.8% in fiscal year 2025, attributed to minimum wage increases and additional staffing in Mexico[44] - The company had 5,118 employees as of December 31, 2025, with total employee compensation and costs amounting to approximately RMB 774.5 million, up from RMB 724.9 million in 2024[62] Cash Flow and Assets - The company reported a significant increase in cash and bank balances to RMB 1,074.6 million from RMB 780.9 million in the previous year[6] - Net cash inflow from operating activities for fiscal year 2025 was approximately RMB 1,058.1 million, up from RMB 826.9 million in 2024, driven by reduced withholding tax on dividends from Chinese subsidiaries and increased VAT refunds from Mexico[54] - The total non-current assets amounted to RMB 2,044,300,000 in 2025, a slight increase from RMB 2,004,587,000 in 2024[14] - As of December 31, 2025, the company had no bank borrowings, a decrease from RMB 52.9 million in borrowings as of December 31, 2024[56] Market Outlook - The global light vehicle market is expected to see a slight growth of about 1.7% in 2025, with projected sales of 89.6 million units[28] - The penetration rate of new energy vehicles in China is expected to approach 50% of total new car sales by 2025, driven by policy support and enhanced competitiveness of domestic brands[30] - The electric vehicle market is expected to see global sales of pure electric vehicles reach approximately 17.4 million units in 2026, accounting for about 19% of total light vehicle sales[38] - Global light vehicle sales are projected to reach approximately 91.8 million units in 2026, showing growth compared to 2025, but overall demand growth is expected to remain limited[37] Operational Efficiency - The company continues to focus on operational efficiency, product portfolio optimization, and strengthening global delivery capabilities amid ongoing industry transformation[32] - The company is adapting its product strategy to balance the development of pure electric, hybrid, and plug-in hybrid vehicles in response to changing market demands[29] - The overall yield rate for the group in the fiscal year 2025 was approximately 93.8%, a slight decrease from 94.1% in fiscal year 2024, primarily due to new projects at the Changzhou factory still in the initial yield optimization phase[36] - The group continues to focus on enhancing production efficiency and quality control management to mitigate the impact of new project launches on overall yield rates[36] Research and Development - Research and development costs for 2025 were RMB 69,564,000, down from RMB 73,031,000 in 2024, a decrease of 4.0%[18] Share Options and Securities - The company adopted a new share option plan in June 2025, allowing the board to grant options to eligible participants[67] - As of December 31, 2025, there were 11,937,000 unexercised options under the 2025 share option plan[68] - No share options were exercised under the 2025 share option plan during the reporting period, with a total of 11,937,000 share options held as of December 31, 2025[69] - The 2025 employee share award plan was adopted on June 18, 2025, but no shares were granted, cancelled, or forfeited during the reporting period[70][71] - The company did not purchase, sell, or redeem any of its listed securities during the fiscal year 2025[73] Audit and Compliance - The audit committee reviewed the consolidated financial statements for the fiscal year 2025, including accounting principles and internal controls[80] - The company's auditor, Ernst & Young, confirmed that the financial figures in the announcement are consistent with the draft consolidated financial statements[81] - The company maintained the required public float as per listing rules as of the announcement date[77] Miscellaneous - The company will suspend share transfer registration from June 1 to June 4, 2026, for determining eligibility to attend the annual general meeting[75] - The company will also suspend share transfer registration from June 23 to June 26, 2026, for determining eligibility to receive the proposed final dividend[76]

Financial Performance - Total revenue for the year ended December 31, 2025, was HKD 17,326,524, a decrease from HKD 29,184,915 in 2024, representing a decline of approximately 40.8%[2] - The company reported a net loss of HKD 782,386 for the year 2025, compared to a profit of HKD 55,578 in 2024, indicating a significant downturn in profitability[3] - The company’s gross profit margin was negative, with cost of revenue at HKD 17,088,082 against total revenue of HKD 17,326,524[2] - The company recorded a loss before tax of HKD 782,204,000 in 2025 compared to a profit of HKD 55,155,000 in 2024[39] - The group reported a net loss of approximately HKD 782,386,000 for the year ending December 31, 2025[8] - The group reported a loss attributable to shareholders of HKD 758,613,000 for 2025, compared to a profit of HKD 54,128,000 in 2024[45] - The company reported a loss of HKD 782,386,000 for the year, compared to a profit of HKD 55,578,000 in the previous year, primarily due to a decline in global oil prices and weak demand for refined oil in China[94] Assets and Liabilities - Total assets as of December 31, 2025, were HKD 2,763,929, slightly down from HKD 2,799,999 in 2024[4] - Current liabilities increased to HKD 1,506,937 in 2025 from HKD 816,878 in 2024, reflecting a rise of approximately 84.5%[5] - Non-current liabilities totaled HKD 675,774 in 2025, compared to HKD 682,942 in 2024, showing a slight decrease[5] - Total liabilities increased to HKD 2,182,711,000 in 2025 from HKD 1,499,820,000 in 2024[31] - The company’s total liabilities rose to HKD 2,182,711,000, up from HKD 1,499,820,000, indicating increased financial leverage[111] Cash and Liquidity - The company's cash and bank balances decreased to HKD 63,724 in 2025 from HKD 278,675 in 2024, a decline of about 77%[4] - The group's cash and bank balances were only HKD 63,724,000, indicating potential liquidity issues[8] - The group has secured bank credit facilities amounting to HKD 750,938,000 for operational funding[111] Impairment and Provisions - Impairment losses on non-current assets were HKD 566,099,000 in 2025, compared to a reversal of HKD 137,606,000 in 2024[32] - The company recorded a significant increase in expected credit loss provisions, rising 820% from HKD 5,676,000 in 2024 to HKD 52,201,000 in 2025[90] - The company recorded an impairment loss of HKD 58,149,000 on goodwill and intangible assets related to its acquisition of Henan Yanchang[100] Revenue Breakdown - Revenue from oil and gas sales was HKD 186,175,000 in 2025, down 43.7% from HKD 331,333,000 in 2024[39] - Revenue from trading and distribution of petroleum-related products was HKD 17,140,349,000 in 2025, a decline of 40.5% from HKD 28,853,582,000 in 2024[39] - The average sales price and sales volume in the Chinese market decreased, leading to a drop in revenue from HKD 28,853,582,000 in 2024 to HKD 17,140,349,000 in 2025[79] Operational Efficiency and Cost Management - The company implemented cost control measures that resulted in a reduction of operating expenses by CAD 1.16 million, a decrease of 7% year-on-year[65] - The company reduced administrative expenses from HKD 86,830,000 in 2024 to HKD 73,234,000 in 2025, saving HKD 13,596,000[86] - The company aims to enhance operational efficiency and control costs through technology application and process optimization in its upstream segment[76] Governance and Compliance - The board is committed to high standards of corporate governance, focusing on transparency, accountability, and fairness[132] - The company has implemented a health, safety, and environmental policy prioritizing continuous improvement and legal compliance[129] - The audit committee consists of three independent non-executive directors, responsible for reviewing financial data and overseeing risk management[135] Future Outlook and Strategic Plans - The company plans to conduct a five-year development plan study, focusing on different international oil price scenarios and setting production targets between 120,000 tons and 400,000 tons[66] - The company is actively developing LNG business, having completed feasibility studies and signed framework contracts, laying the groundwork for new profit growth points[72] - The outlook for 2026 indicates that geopolitical tensions in the Middle East may lead to increased volatility in oil prices, with WTI oil prices exceeding $100 per barrel in early March[75]