截至二零二五年十二月三十一日止年度業績公告 摘要 在本公告內，除非另有說明，貨幣單位均為人民幣（「人民幣」），中華人民共和國（「中國」）法 定貨幣。 除非另有說明，本公告內所有財務資料均按照中國企業會計準則（「中國會計準則」） 編製。 1 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份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。 華新建材集團股份有限公司 HUAXIN BUILDING MATERIALS GROUP CO., LTD.* （於中華人民共和國註冊成立的股份有限公司） （股份代號：6655） 二零二五年度本公司營業收入約為人民幣 353.48 億元，較二零二四年度上升 3.31%。 二零二五年度本公司净利润約為人民幣 35.4 億元，較二零二四年度上升 20.0%。 二零二五年度本公司股東權益持有人應佔本年度淨利潤約為人民幣 28.53 億元，較二零二 四年度上升 18.09%。 二零二五年度每股盈利人民幣 1.37 元，較二零二四年度上升 18.10%。 一、本公司基本情況簡介 ...

Financial Performance - China Bohai Bank reported a stable overall performance with net profit growth, achieving a year-on-year increase of 5%[13] - The bank's total assets reached RMB 1.5 trillion, reflecting a growth of 8% compared to the previous year[13] - Operating revenue for 2025 reached RMB 25,969,603 thousand, a 1.92% increase from RMB 25,481,589 thousand in 2024[41] - Pre-tax profit increased by 4.49% to RMB 5,572,604 thousand compared to RMB 5,333,030 thousand in 2024[41] - Net profit rose by 4.61% to RMB 5,498,206 thousand from RMB 5,255,815 thousand in 2024[41] - The bank aims to achieve high-quality development by focusing on precise management and enhancing service efficiency in 2026[18] Asset Quality - The non-performing loan (NPL) ratio improved to 1.5%, down from 1.7% in the previous year, indicating enhanced asset quality[13] - The non-performing loan ratio improved to 1.66%, a decrease of 0.1 percentage points from the previous year[17] - The non-performing loan balance decreased to RMB 15.92 billion, with a non-performing loan ratio of 1.66%, down 0.1 percentage points from the previous year[54] - The provision coverage ratio stands at 162.16%, with a loan provision rate of 2.68%, achieving stable asset quality and resilience against expected credit risks[193] Capital and Liquidity - The bank's capital adequacy ratio stood at 12.5%, above the regulatory requirement, ensuring financial stability[13] - The capital adequacy ratio increased to 12.48%, up by 0.85 percentage points from 11.63% in 2024[43] - The liquidity ratio of the group is 84.62%, liquidity coverage ratio is 156.73%, net stable funding ratio is 115.08%, and liquidity matching ratio is 126.90% as of the end of the reporting period[199] - The bank employs a centralized management model for liquidity risk, with strategies and policies defined by the board of directors[196] Customer Growth and Engagement - User data showed an increase in active accounts by 10% year-on-year, reaching 20 million active users[13] - The total number of customers reached 135,100, an increase of 13.53% compared to the end of the previous year[152] - Retail customer base grew by 6.93%, with high-end customers increasing by 10.64%[166] Strategic Initiatives - The bank plans to expand its market presence by opening 50 new branches in key cities across China in 2026[13] - Future guidance indicates a targeted net profit growth of 6-8% for 2026, driven by strategic initiatives and market expansion[13] - The bank's strategic focus includes deepening the implementation of the "9531" strategy to achieve balanced optimization of multiple goals[17] Technology and Innovation - Investment in technology and digital banking solutions increased by 15%, aimed at enhancing customer experience and operational efficiency[13] - The company launched a new generation of comprehensive fund management systems, enhancing operational efficiency and risk management capabilities[170] - The company has successfully launched several AI applications in key areas such as risk control and customer service, contributing to its operational efficiency[185] Awards and Recognition - The bank received multiple awards in 2025, including the Best Supply Chain Financial Product Innovation Award and the Best Trade Finance Product Innovation Bank Award[23] - The bank has been recognized as an "Innovative Leading Pioneer Institution" by the China Bond Financial Valuation Center for 2025[26] - The bank's mobile banking channel was awarded the 2025 Mobile Banking Channel Collaboration Pioneer Award by the China International Financial Certification Center[30] Risk Management - The bank is committed to strengthening risk management frameworks to support its transformation and development goals[13] - The bank has established a comprehensive risk management system with three lines of defense, ensuring effective risk management responsibilities across all levels[191] - The bank has launched a collateral management system covering 13 modules and 49 functions, enhancing risk control throughout the collateral lifecycle[194] Financial Investments - Financial investments totaled RMB 743.76 billion, up 6.18% from the previous year, with a notable increase in investments measured at fair value through other comprehensive income[98] - The bank's treasury management services achieved a settlement volume of CNY 171.6 billion, covering 204 enterprises across 16 provinces[160] Deposits and Loans - Total deposits rose by 6.54% to RMB 1,114,458,209 thousand from RMB 1,046,088,795 thousand in 2024[41] - The total amount of loans and advances (including discounts) was RMB 961.73 billion, reflecting a growth of 2.70% year-on-year[95] - The total amount of corporate loans and advances was RMB 712.41 billion, with an NPL ratio of 1.15%[131] International Operations - International settlement volume exceeded USD 100 billion, representing a 48% year-on-year growth[159] - The bank's cross-border financial services were enhanced, establishing a direct participation qualification in the CIPS system[159]

Financial Performance - For the fiscal year ending December 31, 2025, the company's revenue was RMB 1,380.4 million, a decrease of 3.4% compared to RMB 1,428.4 million for the fiscal year ending December 31, 2024[2][8]. - The net profit for the fiscal year ending December 31, 2025, was RMB 91.2 million, an increase of 3.1% from RMB 88.5 million in the previous year[2][5]. - Basic earnings per share for the fiscal year ending December 31, 2025, were RMB 0.66, up from RMB 0.63 for the fiscal year ending December 31, 2024[2]. - The gross profit decreased by 4.6% from RMB 663.4 million for the year ending December 31, 2024, to RMB 633.2 million for the year ending December 31, 2025, with the gross margin declining from 46.4% to 45.9%[32]. - The group recorded a foreign exchange gain of RMB 82.0 million for the year ended December 31, 2025, compared to a loss of RMB 36.6 million for the previous year[55]. - The total tax expense for the year was RMB 23,493,000, significantly lower than RMB 66,764,000 in 2024, reflecting a reduction of 64.8%[111]. - The net profit attributable to shareholders for the year was RMB 96,189, compared to RMB 92,394 in 2024, representing an increase of 4.3%[73]. Research and Development - Research and development expenses for the fiscal year ending December 31, 2025, were RMB 92.6 million, an increase of 18.1% from RMB 78.4 million in the previous year, representing 6.7% of revenue[2][5]. - The company has expanded its R&D capabilities with platforms in Shenzhen, Wuxi, Suzhou, and Wenzhou in China, as well as in the Netherlands and Germany[6]. - The company’s R&D investments focus on artificial crystals, surgical consumables, and diagnostic equipment, with significant progress in product registration expected in 2026[19]. - The company’s Shenzhen base has made advancements in developing various ophthalmic products, with several products entering clinical trials and registration processes[17]. - The company has a global R&D layout with 257 personnel, accounting for approximately 28.8% of total employees, and R&D expenses of RMB 92.6 million, representing 21.6% of proprietary product revenue, an 18.1% increase from RMB 78.4 million in 2024[16]. Product and Market Development - The company has a total of 153 product offerings, including 74 proprietary products, and has established exclusive distribution agreements with 15 overseas brand partners[6][7]. - Sales of intraocular lenses reached a record high of RMB 358.6 million, representing a year-on-year growth of 13.2%[7][13]. - Revenue from proprietary products contributed RMB 429.4 million, accounting for 38.1% of total product sales, up from 31.4% in the previous year[12]. - Revenue from distributed products was RMB 697.6 million, a decrease of approximately 14.9% from RMB 819.3 million in the previous year, primarily due to macroeconomic challenges and increased competition[14]. - The company is actively expanding its product registration in new countries and regions, aiming for broader market coverage[22]. - The company plans to continue expanding its product offerings and market presence, focusing on innovation in ophthalmic medical devices and consumables[92]. Operational Efficiency - Sales and distribution expenses rose by 5.1% from RMB 232.9 million for the year ending December 31, 2024, to RMB 244.8 million for the year ending December 31, 2025, with the percentage of sales and distribution expenses to revenue increasing from 16.3% to 17.7%[35]. - Administrative expenses increased by 19.7% from RMB 145.5 million for the year ending December 31, 2024, to RMB 174.2 million for the year ending December 31, 2025, due to personnel expansion in R&D teams[36]. - The company reported a gross margin of 60%, reflecting improved operational efficiency and cost management[127]. Cash Flow and Financial Position - As of December 31, 2025, the group's cash and cash equivalents amounted to RMB 421.0 million, remaining stable compared to RMB 421.4 million as of December 31, 2024[49]. - The group generated a net cash inflow from operating activities of approximately RMB 144.2 million during the reporting period[49]. - The group's total interest-bearing bank and other borrowings were RMB 450.3 million, including short-term borrowings of RMB 135.2 million and long-term borrowings of RMB 315.1 million as of December 31, 2025[50]. - The group's debt-to-asset ratio was 29.9% as of December 31, 2025, down from 34.8% as of December 31, 2024[52]. - The company's total non-current assets increased to RMB 1,456,387 in 2025 from RMB 1,365,984 in 2024, representing an increase of approximately 6.6%[95]. Strategic Initiatives - The group plans to continue increasing R&D investment, particularly in major innovations for high-end ophthalmic medical devices, to optimize product revenue structure and enhance the contribution of self-owned products[27]. - The group aims to strengthen its market presence in both domestic and international markets, focusing on expansion in China and Europe while enhancing its global sales network[29]. - The company completed the acquisition of Teleon Holding B.V., which is anticipated to enhance its product portfolio and increase market competitiveness[128]. - A strategic partnership was formed with key opinion leaders (KOLs) in the medical field to promote new products, aiming for a 15% increase in brand awareness[126]. Regulatory and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and are presented in RMB[79]. - The audit committee confirmed that the financial statements for the year ended December 31, 2025, comply with applicable accounting standards and regulations[70]. - The company plans to adopt new and revised International Financial Reporting Standards as they become effective, which may impact future financial reporting[85].

Financial Performance - For the year ended December 31, 2025, total revenue was RMB 1,866,035, a decrease of 49.8% compared to RMB 3,713,887 in 2024[2] - Gross profit increased to RMB 938,229, up 14.7% from RMB 818,055 in the previous year[2] - The company reported a net loss of RMB 9,660,482, which is a 77.5% increase from the net loss of RMB 5,433,654 in 2024[3] - The basic and diluted loss per share for the year was RMB 145.75, compared to RMB 100.69 in 2024[2] - The company reported other comprehensive income of RMB 217,949, an increase from RMB 25,833 in the previous year[3] - The company reported a comprehensive loss of RMB 10,404,148,000 for the year ending December 31, 2025, compared to a loss of RMB 5,697,961,000 in the previous year[29] - The company incurred a loss of approximately RMB 9,660.5 million, which is a 77.8% increase from RMB 5,433.7 million in 2024, with shareholders' loss amounting to RMB 8,795.1 million, up 70.1% from RMB 5,171.4 million[62][64] Assets and Liabilities - Non-current assets decreased to RMB 35,720,706 from RMB 40,962,258 in 2024, reflecting a decline of 12.0%[4] - Current liabilities increased to RMB 63,193,281, up 6.0% from RMB 59,441,065 in 2024[4] - The company's total assets decreased to RMB 34,127,878 from RMB 44,145,612, a decline of 22.7%[4] - The equity attributable to shareholders decreased significantly to RMB 9,462,351 from RMB 18,039,614, a drop of 47.5%[4] - As of December 31, 2025, current liabilities exceeded current assets by RMB 1,593 million, with total borrowings amounting to RMB 29,874 million[7] - The company's total liabilities ratio is approximately 212.5%, up from 126.2% in 2024[88] - Total accounts payable rose to RMB 5,885,846,000 in 2025 from RMB 4,444,260,000 in 2024, marking an increase of 32.5%[46] Revenue Breakdown - The group's revenue from property sales decreased to RMB 837,204,000 in 2025 from RMB 2,627,934,000 in 2024, representing a decline of approximately 68%[20] - Revenue from hotel operations, property management services, and other services increased slightly to RMB 427,885,000 in 2025 from RMB 419,543,000 in 2024, showing a growth of about 2%[20] - Revenue from customer contracts decreased to RMB 1,265,089,000 in 2025 from RMB 3,047,477,000 in 2024, a decline of approximately 58%[20] - Rental income decreased to RMB 600,946,000 in 2025 from RMB 666,410,000 in 2024, reflecting a decrease of about 10%[20] - The commercial property investment and operation segment reported a profit of RMB 576,261,000 for the year ending December 31, 2025[25] - The comprehensive service segment generated RMB 602,900,000 in total revenue for the year ending December 31, 2025[25] Cash Flow and Financing - The company reported a cash balance of RMB 839.8 million as of December 31, 2025, down from RMB 3,303.8 million in 2024[64] - The company has secured financing for real estate project development through internal resources and debt and equity financing[91] - The total interest expense decreased from RMB 2,049,474 thousand in 2024 to RMB 1,124,796 thousand in 2025, reflecting a reduction in borrowing costs[36] - Financing costs decreased by approximately 45.1% to RMB 1,124.8 million, down from RMB 2,049.5 million in 2024, with an average financing cost of 8%[84] Operational Challenges - The group is facing significant uncertainties regarding its ability to continue as a going concern, with ongoing discussions with creditors to restructure debts[9] - The group has initiated legal measures to oppose a winding-up petition filed against it, with a court hearing postponed to June 1, 2026[9] - The group successfully obtained consent from lender A to oppose the winding-up petition, avoiding potential liquidation[14] - The audit opinion stated that there is significant uncertainty regarding the company's ability to continue as a going concern[107] Strategic Focus - The company aims to leverage its extensive experience in the Greater Bay Area and focus on urban renewal projects to drive future value growth[56] - The group is focused on the "Technology + Real Estate" strategy, implementing smart applications in various scenarios to enhance operational efficiency and living experience[71] - The group plans to actively seek opportunities to sell properties at reasonable prices to generate more cash flow and improve liquidity[9] - The group is committed to maintaining normal business relationships with major contractors and suppliers to ensure project completion[9] Governance and Management - The company has appointed a new CEO, Ms. Huang Jing Shu, effective March 31, 2025, following the resignation of Mr. Tang Shou Chun[100] - The board consists of four executive directors and three independent non-executive directors, which is below the required number of independent directors[102] - The company has adopted the corporate governance code and is committed to transparency and accountability to shareholders[100]

Financial Performance - For the fiscal year ending December 31, 2025, the company reported a revenue of HKD 82,460,000, a decrease of 31.3% compared to HKD 119,991,000 in 2024[3] - The cost of sales for the same period was HKD 69,393,000, resulting in a gross profit of HKD 13,067,000, compared to a gross loss of HKD 6,452,000 in the previous year[3] - The company incurred a loss before tax of HKD 34,492,000, significantly improved from a loss of HKD 108,468,000 in 2024[3] - The total comprehensive loss for the year was HKD 32,662,000, down from HKD 130,028,000 in the previous year[3] - The company reported a loss of HKD 34,525,000 for the year 2025, compared to a loss of HKD 127,879,000 in 2024, indicating a significant improvement in financial performance[21] - The group recorded a net loss for the period was approximately HKD 34.5 million, compared to a net loss of HKD 127.9 million for the fiscal year ending December 31, 2024[58] Cash Flow and Liquidity - The company’s cash and bank balances stood at HKD 23,545,000 as of December 31, 2025, compared to HKD 26,568,000 in 2024[4] - The company has received commitments for continued financial support from its major shareholder until December 31, 2026, to alleviate liquidity pressures[8] - The group had no outstanding bank borrowings as of December 31, 2025, maintaining a conservative financial policy with a focus on cash flow generated from operations[60] Asset Management - The company’s total assets less current liabilities improved to HKD 32,685,000 from a negative HKD 58,388,000 in the previous year[4] - The net asset position improved to HKD 32,077,000 from a net liability of HKD 59,069,000 in 2024[5] - Trade receivables decreased to HKD 6,865,000 in 2025 from HKD 32,782,000 in 2024, highlighting a reduction in outstanding payments[22] - The company’s inventory impairment loss was HKD 84,000 in 2025, significantly lower than HKD 13,160,000 in 2024, indicating improved inventory management[20] Revenue Segmentation - The semiconductor business segment reported revenue of HKD 714,000 for the year ending December 31, 2025, a significant decrease from HKD 85,395,000 in 2024[17] - The broadband infrastructure and smart venue segment generated total revenue of HKD 82,268,000 in 2025, down from HKD 119,601,000 in 2024, indicating a decline of approximately 31%[17] - The broadband infrastructure construction services revenue was HKD 14,616,000 in 2025, compared to HKD 19,078,000 in 2024, reflecting a decrease of about 23%[17] - The smart venue solutions service revenue surged to HKD 60,737,000 in 2025, up from HKD 9,089,000 in 2024, marking an increase of approximately 570%[17] - The total operating revenue from all sources was HKD 82,460,000 in 2025, down from HKD 119,991,000 in 2024, representing a decline of around 31%[17] Cost Management - Total employee costs for 2025 amounted to HKD 25,907,000, down from HKD 42,342,000 in 2024, reflecting cost management efforts[20] - Administrative expenses for the period were approximately HKD 40.2 million, a decrease of about HKD 13.2 million or 24.7% compared to the previous fiscal year[50] - The sales and distribution costs for the period were approximately HKD 4.7 million, a decrease of about HKD 2.3 million or 32.9% compared to the previous fiscal year[49] Investment Activities - The group has invested approximately HKD 222.2 million in various US and Hong Kong listed equity securities during the period, with net realized gains of approximately HKD 10.1 million[35] - The fair value of the group's listed equity securities decreased by approximately HKD 4.0 million, resulting in an unrealized loss[35] - The group will closely monitor and evaluate the performance of listed equity securities and make timely adjustments to the investment portfolio to enhance returns[41] - The group has established risk management and internal control procedures to identify, measure, monitor, and manage risks associated with its investment activities[38] Strategic Direction - The company is actively seeking new business projects to enhance profitability and cash flow[8] - The company is exploring partnerships to mitigate risks and optimize resource allocation towards more profitable projects[28] - The company plans to allocate resources to smart product trading and explore new opportunities aligned with future technological trends, including 5G, AI, IoT, cloud computing, and big data processing[68] - The company is actively seeking acquisition targets, particularly high-potential growth companies with leading technologies[69] Corporate Governance - The audit committee has confirmed that the financial results are prepared in accordance with applicable accounting standards and have been adequately disclosed[76] - The company maintains high standards of corporate governance, with clear delineation of roles between the chairman and the CEO, although the CEO position has been vacant since February 1, 2021[72] - The board of directors includes executive and independent non-executive directors[81] Future Outlook - The semiconductor business is expected to face severe challenges due to rapid technological updates and intensified market competition, leading to a cautious approach in operations and potential adjustments to minimize further losses[68] - The group is considering potentially terminating its semiconductor division and reallocating resources to its smart product trading business[32]

Financial Performance - Revenue for the year ended December 31, 2025, was HKD 82,341,000, representing a 21.6% increase from HKD 67,711,000 in 2024[4] - Gross profit increased by 50.2% to HKD 35,245,000 in 2025, compared to HKD 23,466,000 in 2024[4] - Profit before tax turned positive at HKD 9,941,000, a significant improvement of 174.4% from a loss of HKD 13,357,000 in the previous year[4] - Total comprehensive income for the year was HKD 11,946,000, a turnaround from a loss of HKD 4,551,000 in 2024, marking a 362.5% increase[4] - Basic earnings per share for 2025 was HKD 1.57, compared to a loss per share of HKD 2.14 in 2024[7] - The company reported a net profit of HKD 9,416,000 for 2025, a significant recovery from a net loss of HKD 12,826,000 in 2024[30] - Revenue increased by HKD 14.6 million or 21.6% to HKD 82.3 million, driven by significant improvements in Australia, North America, and Hong Kong markets, partially offset by a decline in China market revenue[48] - Gross profit margin improved from 34.7% to 42.8%, with gross profit rising from HKD 23.5 million to HKD 35.2 million due to higher profit margins from maintenance services and equipment leasing[49] Assets and Liabilities - Non-current assets increased significantly to HKD 40,620,000 in 2025 from HKD 20,471,000 in 2024[8] - The company's total assets decreased to HKD 131,530,000 in 2025 from HKD 147,947,000 in 2024, reflecting a reduction of 11.0%[8] - The net asset value increased to HKD 113,258,000 in 2025 from HKD 100,145,000 in 2024, representing a growth of 13.1%[9] - Trade receivables net amount decreased to HKD 57,982,000 in 2025 from HKD 60,743,000 in 2024, reflecting improved collection efforts[32] - Trade payables decreased from HKD 28,507,000 in 2024 to HKD 22,337,000 in 2025, with accrued expenses increasing from HKD 2,417,000 to HKD 4,117,000[35] - The aging analysis of trade payables shows a significant reduction in amounts overdue by more than 120 days, from HKD 16,828,000 in 2024 to HKD 10,703,000 in 2025[36] - The company’s current ratio decreased to 2.30 from 2.46, with current assets at HKD 131.5 million and current liabilities at HKD 57.1 million as of December 31, 2025[59] - Cash and cash equivalents decreased to approximately HKD 17.1 million from HKD 23.4 million year-on-year[60] - The net cash position as of December 31, 2025, indicates that cash and cash equivalents of HKD 17.1 million exceed total bank borrowings of HKD 9.8 million[61] Revenue Streams - Sales of goods accounted for HKD 75,526,000, up from HKD 64,294,000 in the previous year, indicating a growth of about 17.5%[19] - Maintenance and repair service revenue increased to HKD 5,100,000 from HKD 2,967,000, reflecting a significant rise of approximately 71.5%[19] - Revenue from major customers accounted for over 10% of total revenue, with Customer A contributing HKD 24,453,000 in 2025[28] - For the fiscal year ending December 31, 2025, total revenue from external customers reached HKD 82,341,000, a 21.5% increase from HKD 67,711,000 in 2024[22] Segment Information - The group operates two reportable segments: Tunnel, which supplies construction equipment cutting tools and components, and Foundation, which supplies prefabricated steel components and equipment[19] - The gross profit margin for the tunnel segment was 42.89% and for the foundation segment was 40.82%, resulting in an overall gross profit margin of 42.80%[20] Acquisitions and Investments - The company reported a significant increase in the bargain purchase gain from the acquisition of a subsidiary, amounting to HKD 4,716,000 in 2025[6] - The acquisition of Ming Yi Group Limited was completed for a cash consideration of approximately HKD 5,870,000, resulting in a bargain purchase gain of HKD 4,716,000[41] - The company reported a loss of HKD 221,000 from the acquired Ming Yi Group since the acquisition date, with potential revenue of HKD 82,341,000 if the acquisition had occurred on January 1, 2025[42] - The company acquired 100% of a Hong Kong company and its Chinese subsidiary for €650,000, which operates a production facility in Dongguan, China, effective December 10, 2025[65] Operational Highlights - The company plans to continue expanding its market presence, particularly in Australia, where revenue increased significantly to HKD 33,774,000 in 2025 from HKD 7,444,000 in 2024[22] - The company is focusing on capturing demand in the Chinese market by acquiring a manufacturing facility and securing exclusive rights for specific products[45] - The company has not engaged in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the fiscal year ending December 31, 2025[65] Compliance and Governance - The company maintained compliance with the Corporate Governance Code as per the GEM Listing Rules, despite not separating the roles of Chairman and CEO[69] - The external auditor confirmed that the financial statements for the year ending December 31, 2025, were consistent with the audited financial reports[78] - There were no significant contingent liabilities reported as of December 31, 2025[68] - The company did not hold any significant investments as of December 31, 2025[67] Environmental and Social Responsibility - The company has established a management policy for environmental protection to ensure sustainable development and compliance with relevant regulations in Hong Kong, China, Singapore, and Australia[73]

Financial Performance - For the year ending December 31, 2025, the total revenue from continuing operations was HKD 117,607,000, an increase of 18.4% compared to HKD 99,298,000 in 2024[4] - The gross profit for the year was HKD 64,045,000, down 11.5% from HKD 72,014,000 in the previous year[4] - The net loss from continuing operations for the year was HKD 64,048,000, significantly improved from a loss of HKD 1,010,971,000 in 2024[4] - The total comprehensive income for the year was HKD 1,892,894,000, compared to a loss of HKD 1,051,641,000 in 2024[5] - The company reported a basic and diluted earnings per share of HKD 37.8, a recovery from a loss of HKD 12.6 in the previous year[4] - The segment profit for investment properties was 74,333 thousand, while the leasing segment reported a loss of 41,424 thousand, resulting in an overall segment profit of 32,909 thousand for 2025[14] - The company reported a pre-tax loss from continuing operations of 1,726 thousand for the fiscal year 2025, compared to a significantly higher loss of 998,561 thousand in 2024[14][16] - The group reported a profit of HKD 1,824,617,000 from discontinued operations in 2025, a significant increase from HKD 21,563,000 in 2024[28] - The group recorded a profit attributable to equity holders of approximately HKD 1,777,500,000, a significant increase from a loss of HKD 590,891,000 in the previous year[95] Assets and Liabilities - Non-current assets totaled HKD 1,704,541,000, a decrease from HKD 1,780,313,000 in 2024[6] - Current assets decreased to HKD 1,071,595,000 from HKD 1,803,386,000 in the previous year[6] - The total liabilities decreased to HKD 858,488,000 from HKD 1,385,846,000 in 2024, indicating improved financial health[7] - Total assets as of December 31, 2025, amounted to 2,776,136 thousand, with segment assets contributing 1,835,036 thousand[14] - The total liabilities as of December 31, 2025, were 858,488 thousand, with segment liabilities accounting for 52,368 thousand[14] - The company’s non-current assets in China (including Hong Kong) were valued at 1,362,670 thousand for 2025, down from 1,725,628 thousand in 2024[19] - Trade receivables for 2025 amounted to HKD 8,146,000, a significant decrease from HKD 396,177,000 in 2024[47] - Other receivables decreased to HKD 102,746,000 in 2025 from HKD 385,871,000 in 2024, with an impairment provision of HKD 4,096,000[51] - Trade payables decreased to HKD 11,510,000 in 2025 from HKD 29,133,000 in 2024[56] - The total liabilities to a holding company were HKD 271,539,000 in 2025, slightly down from HKD 273,678,000 in 2024[56] Cash Flow and Dividends - The net cash flow from operating activities for the discontinued operations was HKD 348,219,000 in 2025, compared to HKD 177,806,000 in 2024, indicating improved cash generation[28] - A special dividend of HKD 0.4620 per share was proposed, totaling approximately HKD 2,170,000,000, with no dividend declared in 2024[31] - The company did not recommend a final dividend for the year ending December 31, 2025, consistent with no dividend in 2024[59] - The company declared a special dividend of HKD 0.4620 per share, totaling approximately HKD 2,170,000,000, to be paid to shareholders[60] - As of December 31, 2025, the group's cash balance was approximately HKD 512,800,000, an increase from HKD 382,000,000 in the previous year[98] Operational Highlights - The company completed the sale of its wholly-owned subsidiary, Wanda Hotel Management (Hong Kong) Limited, on October 16, 2025, as part of its strategic restructuring[10] - The company completed the sale of its wholly-owned subsidiary, Wanda Hotel Management (Hong Kong) Limited, on October 16, 2025, with a total consideration of HKD 2,713,017,000[66] - The net cash inflow from the sale of the subsidiary was HKD 1,915,606,000, after accounting for cash and cash equivalents sold[68] - The subsidiary recorded a pre-tax profit of approximately HKD 81,500,000 from January 1, 2025, to October 16, 2025, before being classified as a discontinued operation[71] - The company holds a 51% stake in the Guilin project, which has a total planned construction area of approximately 330,000 square meters, including a shopping center and retail properties[72] - The main revenue source for the company from the Guilin project is rental income and related management fees from tenants[73] - Total annual foot traffic for 2025 is approximately 17.66 million, up from 15.64 million in 2024, indicating a significant increase due to the recovery of the tourism industry in Guilin[74] - Tenant annual pre-tax sales for 2025 are approximately RMB 661.41 million, slightly down from RMB 714.51 million in 2024, reflecting stable sales performance despite market challenges[74] - The company achieved a 100% occupancy rate and a 100% rent collection rate for the year[75] Governance and Compliance - The company has adopted the corporate governance code and confirmed compliance with its provisions during the year[112] - The audit committee reviewed the financial statements for the year and met regularly with senior management and external auditors[115] - The annual performance announcement and annual report will be published on the company's website and the Hong Kong Stock Exchange website[117] - The annual report for the year ending December 31, 2025, will be sent to shareholders in due course[117] - The announcement date is March 26, 2026, with key executives listed including the chairman and executive directors[119] Market and Investment Strategy - The company is actively seeking investment opportunities in the cultural tourism sector, leveraging its expertise in hotel design and management[80] - The company will continue to seek potential acquisitions, investments, joint ventures, and partnership opportunities that align with its overall business strategy[106]

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 就 因 本 公 告 全 部或任何部份內容而產生或因依賴該等內容而引起的任何損失承擔任何責任。 濰柴動力股份有限公司 WEICHAI POWER CO., LTD. （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2338） 截至二零二五年十二月三十一日止年度的末期業績公佈 財務摘要 （重 要 提 示：本 公 告 分 別 以 中 英 文 刊 載。如 中 英 文 有 任 何 差 異，概 以 中 文 為 準。） – 1 – • 營業收入約為人民幣231,809百 萬 元，上 升 約7.5%。 • 歸屬於母公司股東的淨利潤約為人民幣10,931百 萬 元，下 降 約4.1%。 • 每股基本盈利約為人民幣1.27元，下 降 約3.1%。 濰柴動力股份有限公司（「本 公 司」）董事會（「董 事 會」）欣然宣佈本公司及其附屬 公 司（「本 集 團」）截至二零二五年十二月三十一日止年度（「本 年 度」）按中 ...

Financial Performance - For the year ending December 31, 2025, the group's revenue decreased by 9% to HKD 91.5 million (2024: HKD 100.3 million) [4] - The group's gross profit increased by 3% to HKD 54.0 million (2024: HKD 52.4 million) [4] - The group recorded an annual loss of HKD 5.1 million (2024: profit of HKD 3.7 million) [4] - The company reported a basic and diluted loss per share of HKD 1.591 cents for the year [5] - The company reported a basic loss per share of approximately HKD 5,085,000 in 2025, compared to a profit of HKD 3,732,000 in 2024 [28] - The group recorded capitalized development costs for new products and services of HKD 1.8 million for the year ending December 31, 2025, down from HKD 2.6 million in 2024 [58] Assets and Liabilities - Total assets decreased from HKD 76.9 million in 2024 to HKD 65.2 million in 2025 [7] - Current liabilities decreased from HKD 29.1 million in 2024 to HKD 19.6 million in 2025 [7] - Net assets decreased from HKD 61.8 million in 2024 to HKD 58.1 million in 2025 [8] - Total liabilities decreased to HKD 16,986,000 in 2025 from HKD 25,063,000 in 2024, indicating a reduction of 32.4% [32] - The total amount of accounts payable decreased to HKD 10,016,000 in 2025 from HKD 15,043,000 in 2024, a decline of 33.3% [32] - The net accounts receivable decreased to HKD 12,823,000 in 2025 from HKD 15,133,000 in 2024, reflecting a reduction of 15.3% [30] Revenue Breakdown - The group's revenue from the development, sale, and distribution of smart card products was HKD 90,848,000 in 2025, a decrease of 12.3% from HKD 100,076,000 in 2024 [20] - Revenue from providing smart card-related services increased significantly to HKD 648,000 in 2025, compared to HKD 211,000 in 2024, representing a growth of 207.6% [20] - Total customer contract revenue for 2025 was HKD 91,496,000, down from HKD 100,287,000 in 2024, indicating an overall decline of 8.0% [20] - In 2025, the total revenue from external customers was HKD 91,496,000, a decrease of 8.5% from HKD 100,287,000 in 2024 [24] - The revenue contribution from Customer A was HKD 15,285,000 in 2024, which accounted for over 10% of the total revenue [21] Expenses and Investments - Operating expenses increased by 21% to HKD 59.4 million, up from HKD 49.0 million in 2024 [39] - Research and development expenses increased to HKD 16.8 million from HKD 12.9 million in 2024 [5] - Research and development expenses rose by HKD 3.9 million, reflecting the company's commitment to enhancing product development capabilities [40] - Interest income dropped significantly to HKD 96,000 in 2025 from HKD 598,000 in 2024, a decline of 83.9% [25] - The company received government grants totaling HKD 49,000 in 2025, compared to HKD 4,000 in 2024, marking a significant increase [25] Dividend and Shareholder Information - The board does not recommend the payment of a final dividend for the year ending December 31, 2025 [4] - The company did not recommend any dividend payment for the year ending December 31, 2025, consistent with the previous year [34] - The board will continue to review the dividend policy and may update it as necessary, balancing shareholder expectations with prudent capital management [42] Operational Challenges and Risks - The group faced challenges due to global economic slowdown and changes in U.S. tariff policies, impacting demand particularly in Europe and the Americas [37][43] - Operational risks include reliance on a limited number of major customers, with sales to the top five customers accounting for 29% of total revenue, down from 35% the previous year [53] - The company outsources nearly all production to external manufacturers, with three smart card manufacturers and five smart card reader manufacturers engaged, which poses risks if these partners face difficulties [54] - The ability to attract and retain skilled professionals is critical, with human capital identified as a significant operational risk, particularly in light of rapid advancements in artificial intelligence and automation [55] - Global IC chip shortages present a major challenge to production capacity, with the company diversifying suppliers to enhance future supply flexibility [56] Strategic Initiatives and Future Outlook - The company successfully launched a series of new differentiated solutions, including AquaGuard NFC readers and WalletMate II mobile wallet applications, with positive market response and strong customer interest in upcoming products [46] - The company maintains a cautiously optimistic outlook for growth, with significant investments in research and development, particularly in new product development expected to yield returns from 2026 onwards [49] - Marketing strategies will focus on active participation in key international exhibitions, including Japan IT Week Spring 2026 and TRUSTECH 2026, to enhance brand visibility and customer relationships [50] - The company has no current plans for acquisitions, mergers, or new debt financing, focusing instead on product innovation and prudent market expansion [51] Corporate Governance and Compliance - The company will disclose details regarding its corporate governance principles and procedures in the 2025 annual report [71] - The board has adopted a code of conduct for securities trading that meets or exceeds the standards set out in the listing rules [72] - The audit committee, composed of four independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2025 [73] - The financial figures in the preliminary announcement for the year ending December 31, 2025, have been confirmed to be consistent by the company's auditor, Changqing CPA [74] - The 2025 annual report will be sent to all shareholders and will also be available on the company's and the stock exchange's websites [75] Employee and Human Capital - Employee count increased from 93 to 98, reflecting the company's investment in human capital to support ongoing business and product development, with total confirmed employee costs amounting to HKD 33.6 million [48] - The group employed 98 full-time employees as of December 31, 2025, an increase from 93 in 2024, with employee costs rising to HKD 33.6 million from HKD 29.8 million [68]

Financial Performance - The revenue for SPT Energy Group Inc. for the year ended December 31, 2025, was RMB 1,713.4 million, an increase of RMB 19.3 million or 1.1% compared to RMB 1,694.1 million in the previous year[2]. - The loss attributable to equity holders of the company was RMB 125.9 million, a significant improvement from a loss of RMB 256.2 million in the previous year[2]. - The total comprehensive loss for the year was RMB 137.2 million, compared to RMB 291.4 million in the previous year, showing a notable improvement[7]. - The basic and diluted loss per share for the year was RMB 0.064, compared to RMB 0.131 in the previous year, indicating an improvement in per-share performance[6]. - The company reported an operating loss of RMB 88.99 million, a significant reduction from an operating loss of RMB 217.99 million in the previous year[6]. - The net loss for the year was RMB 128.6 million, a reduction of RMB 135.0 million or approximately 51.2% from the previous year[41]. - The company reported a net loss before tax of RMB (121,735,000) for 2025, an improvement compared to a loss of RMB (246,577,000) in 2024[20]. Assets and Liabilities - The total assets decreased to RMB 2,391.6 million from RMB 2,508.7 million, reflecting a decline of approximately 4.7%[4]. - Non-current assets decreased to RMB 567.2 million from RMB 579.3 million, a reduction of about 2.9%[4]. - Current assets decreased to RMB 1,824.4 million from RMB 1,929.4 million, a decline of approximately 5.4%[4]. - The total liabilities slightly decreased to RMB 1,500.9 million from RMB 1,506.2 million, a reduction of about 0.4%[5]. - The total equity attributable to equity holders was RMB 8,908 million as of December 31, 2025, a decrease of RMB 1,315 million or 12.9% from RMB 10,223 million as of December 31, 2024[89]. Cash Flow and Financing - Operating cash flow for the year ended December 31, 2025, was RMB 21,281,000, compared to RMB 40,692,000 in 2024, reflecting a decrease of 47.6%[8]. - Net cash generated from operating activities decreased to RMB 5,086,000 in 2025 from RMB 26,379,000 in 2024, a decline of 80.7%[8]. - Cash used in investing activities was RMB 28,412,000 in 2025, down from RMB 32,709,000 in 2024, indicating a reduction of 13.8%[8]. - Financing activities generated net cash of RMB 5,087,000 in 2025, a significant decrease from RMB 98,064,000 in 2024, representing a decline of 94.8%[8]. - Total borrowings increased to RMB 701,137,000 in 2025 from RMB 677,432,000 in 2024, an increase of 3.3%[8]. - Interest paid rose to RMB 28,222,000 in 2025 from RMB 26,492,000 in 2024, an increase of 6.5%[8]. Revenue Segmentation - Revenue from the drilling segment was RMB 440,541,000, while the completion segment generated RMB 280,572,000, and the reservoir segment contributed RMB 817,376,000 for 2025[18]. - Revenue from external customers in China was RMB 966,615,000 for 2025, a decline from RMB 1,044,354,000 in 2024, reflecting a decrease of approximately 7.4%[23]. - The oil reservoir segment generated revenue of RMB 817.4 million, a slight increase of RMB 0.5 million or 0.1% year-on-year[45]. - The drilling services segment reported revenue of RMB 440.5 million, a decrease of RMB 22.0 million or 4.8% compared to the previous year[47]. - The completion services segment achieved revenue of RMB 280.6 million, a marginal decrease of RMB 0.3 million or 0.1% year-on-year[48]. Operational Efficiency - The group’s material costs decreased to RMB 488.5 million, down RMB 13.5 million or 2.7% from RMB 502.0 million in the previous year, primarily due to changes in business structure[67]. - Employee benefits expenses decreased to RMB 565.8 million, a reduction of RMB 75.7 million or 11.8% from RMB 641.5 million in the previous year, attributed to a decrease in employee numbers[68]. - The group’s other operating costs decreased to RMB 197.5 million, down RMB 19.6 million or 9.0% from RMB 217.1 million in the previous year[74]. - The group’s depreciation and amortization expenses increased to RMB 56.0 million, up RMB 0.8 million or 1.4% from RMB 55.2 million in the previous year[71]. Strategic Focus and Market Expansion - The company is focusing on market expansion in Central Asia, Southeast Asia, the Middle East, and South America to enhance its global presence[41]. - The company aims to optimize its strategic layout while adhering to a customer-centric service philosophy to improve market competitiveness[41]. - The company is focusing on enhancing its core technology service capabilities and exploring diversified innovation models to strengthen its competitive edge in the oil service market[53]. - The company plans to optimize its business layout and strengthen core competitive advantages, focusing on technology-driven strategies and expanding into high-value overseas projects[98]. Corporate Governance and Compliance - The company has confirmed compliance with the corporate governance code as of December 31, 2025[104]. - The audit committee and auditors have reviewed the accounting principles and practices adopted by the group for the fiscal year ending December 31, 2025[107]. - The company has adopted a lean management model to enhance risk control capabilities and improve operational efficiency[103]. - The company emphasizes a performance-oriented assessment mechanism to boost team execution and work efficiency[103].