香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HONG WEI (ASIA) HOLDINGS COMPANY LIMITED 鴻 偉（ 亞 洲 ）控 股 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：8191） 截至二零二五年十二月三十一日止年度的 全年業績公佈 香港聯合交易所有限公司（「聯交所」）GEM之特色 本公司董事會（「董事會」）謹此提呈本公司及其附屬公司（統稱「本集團」）截至二零二五 年十二月三十一日止年度的綜合財務業績草擬本，連同截至二零二四年十二月三十一 日止年度的經審核比較數字如下： 綜合損益及其他全面收益表 截至二零二五年十二月三十一日止年度 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 收益 | 4 | 101,686 | 314,378 | | 銷售成本 | | (98,671) | (280,444) | | 毛利 | ...

Financial Performance - The company's revenue for the fiscal year ending December 31, 2025, was approximately 381.1 million THB, an increase of about 272 million THB compared to 109.1 million THB for the fiscal year ending December 31, 2024[3]. - The company recorded a net loss after tax of 106.3 million THB for the fiscal year 2025, compared to a net loss of approximately 286.1 million THB for the fiscal year 2024[3]. - Gross profit for the fiscal year 2025 was 85.6 million THB, significantly higher than 24.0 million THB in the fiscal year 2024[5]. - Total comprehensive loss for the fiscal year 2025 was 103.9 million THB, compared to 285.7 million THB in fiscal year 2024[5]. - The company reported a net loss attributable to shareholders of 106,338 THB, compared to a loss of 286,090 THB in the previous year, indicating a significant improvement[6]. - The group reported a loss of approximately 106 million THB for the year ending December 31, 2025, compared to a loss of 286 million THB in 2024[15]. - The company’s total revenue for the year 2025 is reported at 381,064 thousand Thai Baht, compared to 109,067 thousand Thai Baht for the year 2024, indicating significant growth[31]. - The company’s revenue for 2025 is approximately 3.5 times higher than that of 2024, attributed to new projects that began production in 2025[64]. Revenue Sources - Major customer contributions to total revenue include Customer C with 192,757 thousand Thai Baht in 2025 and Customer B with 33,512 thousand Thai Baht in 2024[32]. - Revenue from IT integration solutions for 2025 is 304,524 thousand Thai Baht, a substantial increase from 34,053 thousand Thai Baht in 2024[34]. - IT support services generated revenue of 19,715 thousand Thai Baht in 2025, compared to 71,417 thousand Thai Baht in 2024, showing a decline[34]. - The company reported a total of 56,825 thousand Thai Baht from equipment sales in 2025, up from 3,597 thousand Thai Baht in 2024[34]. - The total revenue from external customers in Thailand for 2025 is 328,450 thousand Thai Baht, compared to 109,067 thousand Thai Baht in 2024[31]. - The company does not report any significant contributions from major customers exceeding 10% of total revenue for the year ending December 31, 2025[32]. Expenses and Costs - Selling and administrative expenses increased to 110.2 million THB in fiscal year 2025 from 55.4 million THB in fiscal year 2024[5]. - The company incurred a total of 295,427,000 THB in selling and service costs for the year[38]. - Employee benefits expenses totaled 48,165,000 THB in 2025, an increase from 42,724,000 THB in 2024[38]. - Administrative expenses for fiscal year 2025 were approximately 110.2 million THB, an increase of about 54.8 million THB, mainly due to increased professional fees and depreciation expenses[72]. - Sales and distribution expenses for fiscal year 2025 were approximately 2.8 million THB, a decrease of about 3.0 million THB compared to the previous year, mainly due to reduced salaries in the sales department[71]. - Financial costs for fiscal year 2025 were approximately 34.9 million THB, a decrease of about 6.8 million THB, primarily due to lower interest expenses from loans[73]. Assets and Liabilities - Total non-current assets decreased from 392,330,000 THB in 2024 to 290,853,000 THB in 2025, representing a decline of approximately 26%[7]. - Current assets decreased from 844,656,000 THB in 2024 to 813,140,000 THB in 2025, a reduction of about 4%[7]. - Total liabilities decreased from 660,390,000 THB in 2024 to 610,951,000 THB in 2025, reflecting a decline of approximately 7%[8]. - Total equity increased from 364,377,000 THB in 2024 to 333,809,000 THB in 2025, indicating a decrease of about 8%[8]. - The company’s total assets decreased from 1,236,986,000 THB in 2024 to 1,104,993,000 THB in 2025, reflecting a decline of approximately 11%[7]. - The company has bank guarantees amounting to approximately 155.36 million THB as of December 31, 2025, compared to 145.45 million THB in 2024[62]. Financing and Capital Structure - The company raised approximately 28.8 million HKD (equivalent to about 135 million THB) from the issuance of 80,000,000 shares, increasing the total issued shares from 600,000,000 to 680,000,000[54]. - The company has entered into a new placement agreement to issue up to 120,000,000 shares at a price of 0.08 HKD per share[56]. - The total net proceeds from the subscription amount to approximately HKD 16.98 million, equivalent to a net issuance price of about HKD 0.106 per share[89]. - 50% of the net proceeds will be used for potential new business expansion into point-of-sale devices and terminal machine trading, while the other 50% will be allocated for general working capital and repayment of bank loans[89]. - The company completed a placement of up to 120,000,000 shares at a price of HKD 0.08 per share, raising approximately HKD 9.6 million[84][85]. - The net proceeds from the placement, after deducting commissions and other expenses, were approximately HKD 9.25 million, intended for general working capital[86]. Future Outlook - The company plans to focus on new projects contributing to revenue growth in the upcoming fiscal year[3]. - The board is optimistic about future performance despite the current net loss, attributing it to investments in new initiatives[3]. - The company remains cautiously optimistic about the launch of new projects delayed to 2026, expecting future revenue to benefit from these initiatives[65]. - The company continues to focus on acquiring new projects and delivering existing ones, maintaining strong confidence in its long-term prospects[66]. Governance and Compliance - The company has adhered to all applicable corporate governance rules as of December 31, 2025, except for the separation of roles between the Chairman and the CEO, which is currently held by Mr. Asvaplungprohm[105]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the financial reporting procedures and internal control measures as of December 31, 2025[109]. - The independent auditor has confirmed that the consolidated financial statements reflect the group's financial position as of December 31, 2025, in accordance with International Financial Reporting Standards[113].

Financial Performance - Revenue increased by 9.4% year-on-year, reaching RMB 19,755.49 million[3] - Profit attributable to owners of the company decreased by 3.2% year-on-year, amounting to RMB 5,324.96 million[3] - Basic earnings per share were RMB 0.8862, down from RMB 0.9179 in 2024[3][9] - Proposed dividend per share is RMB 0.395, compared to RMB 0.385 in 2024[4] - Gross profit decreased to RMB 6,775.19 million from RMB 7,252.46 million in 2024[6] - Profit before tax increased to RMB 9,789.59 million from RMB 8,857.58 million in 2024[6] - Total comprehensive income for the year was RMB 7,589.07 million, down from RMB 7,761.87 million in 2024[8] - The group's net profit attributable to shareholders for the period was RMB 5.32496 billion, a decrease of 3.2% year-on-year[64] Assets and Liabilities - Non-current assets increased to RMB 78,920,680 thousand in 2025 from RMB 71,258,072 thousand in 2024, representing an increase of approximately 10.5%[10] - Current assets rose to RMB 214,492,229 thousand in 2025, up from RMB 145,924,295 thousand in 2024, marking an increase of about 47%[11] - Total liabilities increased to RMB 163,017,817 thousand in 2025 from RMB 108,265,977 thousand in 2024, reflecting a growth of approximately 50.7%[12] - Net assets grew to RMB 93,049,334 thousand in 2025, compared to RMB 73,698,364 thousand in 2024, indicating an increase of around 26.3%[13] - The company's total equity attributable to owners increased to RMB 50,380,273 thousand in 2025 from RMB 46,040,953 thousand in 2024, reflecting an increase of approximately 9.5%[13] - The group's total liabilities as of December 31, 2025, were RMB 200.63658 billion, compared to RMB 143.48400 billion as of December 31, 2024[67] Revenue Breakdown - The highway business generated revenue of RMB 10,387,655, while the securities business contributed RMB 7,550,613, and other businesses accounted for RMB 1,817,222[20] - Revenue from highway operations was RMB 10.387655 billion, a decrease of 2.6% compared to RMB 10.662346 billion in 2024[48] - Securities business revenue increased significantly to RMB 7.550613 billion, up 22.1% from RMB 6.182506 billion in 2024[48] - The construction services business saw a remarkable growth of 57.9%, generating RMB 1.690252 billion in revenue[48] Expenses and Costs - Operating costs rose to RMB 12,980.30 million from RMB 10,812.36 million in 2024[6] - Financing costs decreased to RMB 1,546.91 million from RMB 1,741.65 million in 2024[6] - The group reported a total income tax expense of RMB 1,926,050 for the year, compared to RMB 1,701,104 in 2024, indicating an increase of approximately 13.3%[23] - Total tax expense for the year ended December 31, 2025, was RMB 1,926,050,000, compared to RMB 1,701,104,000 in 2024, reflecting an increase of 13.2%[31] Cash Flow and Capital Expenditures - The group's cash flow from operating activities for the period was RMB 4.20348 billion[66] - The group's capital expenditures for the period amounted to RMB 4.08 billion, with RMB 1.13 billion allocated for equity investments and RMB 1.74 billion for equipment and facilities construction[72] - As of December 31, 2025, the total capital expenditure commitments of the group are RMB 4.95 billion, including RMB 2.26 billion for equity investments and RMB 2.83 billion for highway construction projects[72] Market and Economic Outlook - China's GDP is projected to grow by 5.0% in 2025, while Zhejiang Province aims for a GDP growth of 5.5% through the development of digital and private economies[46] - The outlook for 2026 indicates a moderate recovery in the global economy, with ongoing support for China's economic growth despite external challenges[81] - The group anticipates natural growth in traffic volume supported by the resilient economy of Zhejiang Province, focusing on operational management strategies to ensure stable operations[82] Strategic Initiatives - The company is focusing on enhancing service efficiency through smart technologies, including the application of drones and robots for inspections, aiming to improve traffic efficiency on road networks[83] - The company is exploring new growth opportunities by integrating low-altitude and expressway developments, and advancing green low-carbon toll stations and energy management platforms[85] - The company is accelerating research on autonomous driving, particularly for freight vehicles, to improve resource utilization and overall traffic efficiency[86] Corporate Governance and Compliance - The company has complied with the corporate governance code during the reporting period[94] - The annual report for the year ending December 31, 2025, will be published on the company's and the stock exchange's websites[95]

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。 Heng Hup Holdings Limited 1 • 二零二五年財政年度的收入為1,455.43百萬馬幣（相當於約2,789.79百萬港 元），較二零二四年財政年度的1,706.66百萬馬幣（相當於約2,960.89百萬港 元）減少約14.7%。 • 二零二五年財政年度的毛利為123.07百萬馬幣（相當於約235.90百萬港 元），較二零二四年財政年度的125.96百萬馬幣（相當於約218.20百萬港元） 減少約2.3%。 • 二零二五年財政年度，本公司擁有人應佔溢利為14.58百萬馬幣（相當於約 27.95百萬港元），較二零二四年財政年度的25.46百萬馬幣（相當於約44.08 百萬港元）減少42.7%。 • 於二零二五年十二月三十一日，本集團擁有人應佔權益為252.87百萬馬幣 （相當於約484.70百萬港元），較二零二四年的238.44百萬馬幣（相當於約 414.14百萬港元）增加6.1%。 ...

KAISUN HOLDINGS LIMITED 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市 的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經 過審慎周詳的考慮後方作出投資決定。 凱順控股有限公司 * （於開曼群島註冊成立之有限公司） （股份代號：8203） 截至二零二五年十二月三十一日止年度之全年業績之公告 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券 承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公告之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不就因本公告全部或任何部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。 本公告的資料乃遵照《聯交所的GEM證券上市規則》（「GEM上市規則」）而刊載，旨在提 供有關凱順控股有限公司（「本公司」）的資料；本公司的董事（「董事」）願就本公告的資料 共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就其所知及所信，本 ...

Financial Performance - For the fiscal year 2025, revenue was approximately RMB 216.2 million, a decrease of about 1.2% compared to RMB 218.8 million in fiscal year 2024[2] - The gross profit margin for fiscal year 2025 was approximately 6.5%, down by about 1.9% from 8.4% in fiscal year 2024[2] - The loss for fiscal year 2025 was approximately RMB 82.7 million, an increase of about 35.4% from a loss of RMB 61.1 million in fiscal year 2024[2] - Basic and diluted loss per share for fiscal year 2025 was approximately RMB 12.4 cents, an increase of about 26.5% from RMB 9.8 cents in fiscal year 2024[2] - Total revenue decreased by approximately 1.2% from about RMB 2,188 million for the year ended December 31, 2024, to about RMB 2,162 million for the year ended December 31, 2025[39] - The company reported a loss attributable to owners of approximately RMB 82,701,000 for the year ended December 31, 2025, compared to a loss of RMB 61,063,000 for the year ended December 31, 2024[25] - The net loss increased from approximately RMB 611 million in 2024 to about RMB 827 million in 2025, primarily due to an increase in impairment losses on trade and other receivables by approximately RMB 225 million[47] - The group reported a loss of approximately RMB 82,715,000 for the fiscal year ending December 31, 2025[74] Assets and Liabilities - Total assets less current liabilities amounted to RMB 222.37 million in fiscal year 2025, down from RMB 303.65 million in fiscal year 2024[4] - Cash and cash equivalents at the end of fiscal year 2025 were approximately RMB 7.52 million, compared to RMB 10.71 million at the end of fiscal year 2024[4] - The company has a current liability of approximately RMB 308.34 million, up from RMB 288.64 million in fiscal year 2024[4] - The company’s bank borrowings increased from RMB 72,101,000 in 2024 to RMB 77,845,000 in 2025[30] - The company has unutilized tax losses of RMB 33,930,000 available to offset future profits as of the reporting date[23] - The company has not recognized deferred tax assets for the unutilized tax losses due to the inability to predict future profit sources[23] - As of December 31, 2025, the group's total capital commitments amounted to approximately RMB 8.8 million, a decrease from RMB 13.1 million as of December 31, 2024[61] - The group has no significant contingent liabilities as of December 31, 2025, consistent with the previous year[60] Revenue Sources - Revenue from customer contracts for the year 2025 was RMB 216,163 thousand, a slight decrease of 1% from RMB 218,773 thousand in 2024[16] - Sales of car models contributed RMB 184,057 thousand in 2025, down from RMB 215,410 thousand in 2024, representing a decline of approximately 14.5%[16] - Sales of electronic products generated RMB 32,106 thousand in 2025, with no sales reported in 2024[16] - Revenue from the Hong Kong market was RMB 209,415 thousand in 2025, a decrease of 3% from RMB 215,875 thousand in 2024[18] - Revenue from smart toy products decreased from RMB 215.4 million in 2024 to RMB 184.1 million in 2025, a decline of approximately 14.6%[41] - The company did not record any revenue from traditional toys in 2025, consistent with 2024, due to a sluggish retail market in China[43] Expenses and Costs - The company reported a total interest expense of RMB 14,732 thousand in 2025, an increase of 27% compared to RMB 11,606 thousand in 2024[20] - Employee costs, including salaries and bonuses, rose to RMB 4,787 thousand in 2025 from RMB 4,417 thousand in 2024, reflecting an increase of 8.4%[19] - The company’s administrative expenses decreased by approximately 15.9% from about RMB 336 million in 2024 to approximately RMB 283 million in 2025[49] - The gross profit decreased from approximately RMB 183 million in 2024 to about RMB 140 million in 2025, a reduction of about 23.7%[46] Operational Changes - The company plans to implement effective cost control measures and develop business to achieve profitability and positive cash flow[7] - The company has secured a financing letter from an independent third party for up to HKD 30 million in unsecured loans[7] - The company is currently assessing the impact of the new Hong Kong Financial Reporting Standards, particularly on the structure of the income statement and cash flow statement[14] - The company plans to enhance disclosures related to management-defined performance metrics (MPM) in accordance with the new accounting standards[15] - The workforce has decreased to 26 full-time employees as of December 31, 2025, down from 32 in the previous year, primarily due to outsourcing production processes[65] - The group plans to focus on overseas markets by strengthening relationships with existing customers and expanding its customer base, particularly in China[68] - The group aims to diversify its product offerings through the development of smart new products and global licensing strategies[68] - The group will allocate more resources to expand sales in domestic and emerging Asian markets[68] Shareholder Information - The company does not recommend a final dividend for the year ended December 31, 2025, consistent with the previous year[24] - The board does not recommend the payment of a final dividend for the fiscal year 2025, maintaining the same stance as in fiscal year 2024[67] - The company issued convertible bonds on December 20, 2024, which can be converted into a total of 124,910,000 shares at HKD 0.160 per share[34] - The company issued 124,910,000 shares following the conversion of convertible bonds, increasing the total issued shares to 874,386,800[64] - The total issued ordinary shares increased from 624,564,000 shares in 2024 to 749,476,800 shares in 2025[57] Audit and Governance - The audit committee has reviewed and approved the audited annual results for the fiscal year ending December 31, 2025[72] - The independent auditor, Changqing (Hong Kong) CPA Limited, confirmed that the figures in the consolidated financial statements are consistent with the group's annual financial report[73] - The company is committed to maintaining high standards of corporate governance and has adhered to the applicable codes, with a review of governance practices ongoing[70] - The company will issue its annual report for the fiscal year 2025 to shareholders and publish it on its website and the Hong Kong Stock Exchange website[75]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 董事會議決就截至2025年12月31日止年度宣派末期股息每股3.0港仙（2024年︰ 2.0港 仙），惟須待股東於2026年6月17日舉行的股東周年大會上批准方告作實。 Ruifeng Power Group Company Limited 瑞豐動力集團有限公司 （在開曼群島註冊成立的有限公司） （股份代號：2025） 截至2025年12月31日止年度 之年度業績公告 財務摘要 | | | 截至12月31日止年度 | | | --- | --- | --- | --- | | | 2025年 | 2024年 | 變幅 | | （人民幣千元） 收入 | 1,109,400 | 956,853 | 15.9% | | （人民幣千元） 毛利 | 116,260 | 101,288 | 14.8% | | 毛利率 | 10.5% | 10.6% | (0.1)百分點 | | 本公司權益股東應佔年內利潤 | | | ...

Financial Performance - Haichang Ocean Park Holdings Ltd. reported a total revenue of RMB 1,549,161,000 for the year ending December 31, 2025, a decrease of 14.8% compared to RMB 1,818,358,000 in 2024[4] - The cost of sales for the year was RMB 1,245,530,000, resulting in a gross profit of RMB 303,631,000, down 27.5% from RMB 418,965,000 in the previous year[4] - The company recorded a net loss of RMB 983,562,000 for 2025, compared to a net loss of RMB 749,511,000 in 2024, reflecting a year-over-year increase in losses of 31.1%[4] - Basic and diluted loss per share for the year was RMB 10.42, compared to RMB 9.12 in 2024, indicating a worsening financial performance[4] - The pre-tax loss for 2025 was RMB 955,875,000, compared to RMB 739,719,000 in 2024, indicating an increase in losses of approximately 29.2% year-over-year[41] - The overall gross profit for the year ending December 31, 2025, was approximately RMB 303.6 million, with a gross profit margin of about 19.6%, down from 23.0% in 2024[72] - The company's net loss for the year ending December 31, 2025, was approximately RMB 983.6 million, compared to a net loss of RMB 749.5 million in 2024[78] Assets and Liabilities - Total non-current assets decreased to RMB 9,337,453,000 from RMB 9,851,854,000 in 2024, a decline of 5.2%[6] - Current assets increased significantly to RMB 1,451,665,000 from RMB 487,699,000 in 2024, marking a growth of 197.5%[6] - The company’s total liabilities amounted to RMB 7,528,341,000, with current liabilities at RMB 3,453,580,000, showing a slight increase from RMB 3,440,618,000 in 2024[7] - The net asset value increased to RMB 2,808,777,000 from RMB 1,815,300,000 in 2024, representing a growth of 54.7%[7] - As of December 31, 2025, the company's net current liabilities amounted to RMB 2,001,915,000[97] - Approximately RMB 206,100,000 of bank and other borrowings were overdue during the year, with about RMB 13,600,000 repaid subsequently[97] Revenue Sources - Revenue from the park operations segment reached RMB 1,477.1 million, contributing significantly to the total revenue of RMB 1,549.2 million[21] - Revenue from customer contracts for the year ended December 31, 2025, was RMB 1,511,474,000, a decrease from RMB 1,785,178,000 in 2024, representing a decline of approximately 15.3%[24] - Ticket sales contributed RMB 800,035,000 to revenue in 2025, while food and beverage sales accounted for RMB 166,629,000, indicating a shift in revenue sources[25] - The park operations segment generated revenue of RMB 1,477.1 million for the twelve months ending December 31, 2025, down from RMB 1,685.2 million in the previous year[51] - Ticket revenue for the parks was RMB 800.0 million in 2025, compared to RMB 895.2 million in 2024, indicating a decrease of approximately 10.6%[51] Operational Strategies - The company plans to continue developing and operating theme parks, property development, and hotel operations to enhance its financial stability[11] - The company is actively seeking new investment and business opportunities to achieve operational profitability and positive cash flow[13] - The company continues to monitor capital expenditures to balance cash resources and control operational costs[13] - The company plans to negotiate with suppliers to extend payment terms for accounts payable based on good cooperative relationships[13] - The company plans to enhance visitor experience by continuously improving the quality and playability of its cultural tourism projects[54] - The company aims to improve operational efficiency and asset quality for existing parks while actively promoting the timely opening of new projects to drive growth[66] Capital Expenditures - Capital expenditures for the year amounted to RMB 461,229,000, with RMB 407,667,000 allocated to park operations[22] - Capital expenditures for the years ending December 31, 2024, and 2025, were RMB 798.3 million and RMB 275.5 million, respectively[79] Corporate Governance - The independent auditor issued an unmodified audit opinion on the consolidated financial statements for the year ended December 31, 2025[96] - The company has adopted the corporate governance code as per the listing rules and has complied with it, except for the combined role of the chairman and CEO[91] - The audit committee consists of three independent non-executive directors, with Mr. Zhu Yucheng as the chairman[93] Market Position and Future Outlook - The company ranked ninth among the top ten theme park operators globally according to the 2024 TEA Global Experience Index[46] - The company has seven theme parks across China as of December 31, 2025[52] - The company plans to shift towards a light-asset service operation model, focusing on cultural tourism service and solution outputs to achieve future asset expansion[66] - The Beijing project is expected to reach operational readiness by 2027, with significant progress already made in construction and land acquisition[61] - The company has successfully implemented IP-themed pop-up events in major cities, exploring diverse commercialization methods for IP operations[65] Risks and Uncertainties - The company emphasizes that forward-looking statements involve risks and uncertainties that may lead to actual results differing significantly from those projected[100]

Financial Performance - Revenue for the year ended December 31, 2025, was approximately RMB 898.2 million, a decrease of about RMB 1,242.4 million compared to the same period in 2024[2] - Automotive sales revenue was approximately RMB 697.9 million, a decrease of about RMB 291.9 million year-on-year[2] - Gross profit increased to approximately RMB 31.1 million, up by RMB 14.9 million compared to the previous year[2] - Loss attributable to equity shareholders was approximately RMB 33.9 million for the year[2] - The company reported a pre-tax loss of RMB 34.9 million, significantly improved from a loss of RMB 93.6 million in the previous year[3] - Total revenue from customer contracts for 2025 was RMB 898,217,000, a decrease of 27.7% from RMB 1,242,382,000 in 2024[17] - Vehicle sales revenue for 2025 was RMB 697,872,000, down 29.5% from RMB 989,821,000 in 2024[17] - Other comprehensive automotive services revenue for 2025 was RMB 200,345,000, a decline of 20.6% from RMB 252,561,000 in 2024[17] - The group reported a pre-tax loss of RMB 34,946,000 for 2025, an improvement from a loss of RMB 93,553,000 in 2024[29] - The group’s total costs of goods sold for 2025 were RMB 730,352,000, a decrease of 31.3% from RMB 1,063,327,000 in 2024[22] - The company's gross profit increased to approximately RMB 31.1 million in 2025, a 92.0% increase from RMB 16.2 million in 2024, with a gross margin of about 3.5%[53] Assets and Liabilities - Total assets less current liabilities decreased to RMB 194.8 million from RMB 271.3 million in the previous year[5] - Non-current assets totaled RMB 132.2 million, down from RMB 190.0 million in the previous year[5] - Current liabilities decreased to RMB 212.5 million from RMB 252.7 million in the previous year[5] - The company’s cash and cash equivalents decreased to RMB 40.7 million from RMB 79.0 million in the previous year[5] - Total inventory as of December 31, 2025, is RMB 121,122,000, an increase from RMB 118,679,000 in 2024, with vehicle inventory at RMB 112,768,000 and parts inventory at RMB 8,354,000[33] - Trade receivables increased to RMB 17,201,000 in 2025 from RMB 12,343,000 in 2024, with a provision for impairment of RMB 172,000 in 2025 compared to RMB 123,000 in 2024[34] - Trade payables and notes payable decreased significantly to RMB 8,976,000 in 2025 from RMB 30,799,000 in 2024, with amounts due within 3 months at RMB 4,726,000[39] - As of December 31, 2025, the group's debt-to-equity ratio was approximately 2.16 times, down from 2.28 times in 2024[61] Expenses and Costs - Total financing costs for 2025 were RMB 4,429,000, a reduction of 44.3% compared to RMB 7,990,000 in 2024[24] - Employee benefits expenses (excluding directors' remuneration) for 2025 were RMB 48,215,000, down 32.4% from RMB 71,325,000 in 2024[22] - Administrative expenses decreased to approximately RMB 61.0 million, down about RMB 19.7 million from the previous year[56] - Other net expenses decreased by approximately RMB 2.9 million or 13.6% to about RMB 18.5 million in 2025[57] - The group's financing costs for the fiscal year 2025 were approximately RMB 4.4 million, a decrease of about RMB 3.6 million or 45.0% compared to RMB 8.0 million in 2024[58] - The group's annual loss for the fiscal year was approximately RMB 34.5 million, significantly reduced from RMB 90.2 million in the previous year, primarily due to operational strategy adjustments and a reduction in administrative and sales expenses[59] Shareholder Information - The group did not declare or pay any dividends for the year ended December 31, 2025, consistent with 2024[30] - The board of directors does not recommend any final dividend for the fiscal year 2025, consistent with the previous year[76] - The company has changed its English name from "Centenary United Holdings Limited" to "Zhong Ju Investment Group Limited" effective January 23, 2026[73] - The annual general meeting is scheduled for May 29, 2026[75] - Share transfer registration will be suspended from May 26, 2026, to May 29, 2026, to determine voting rights at the annual general meeting[77] - At least 25% of the company's issued share capital is held by the public[94] Corporate Governance - The company has adopted the corporate governance code and has complied with its provisions as of December 31, 2025[78] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[95] - The independent auditor has reviewed the preliminary announcement of the group's financial results for the year ending December 31, 2025[96] - The annual performance announcement has been published on the Hong Kong Stock Exchange and the company's website[97] - The company expresses gratitude to shareholders, partners, and employees for their continuous support and contributions[98] Employee Information - The group had approximately 470 employees as of December 31, 2025, a decrease from 526 employees in 2024[68] Strategic Initiatives - The company is adapting to industry changes by embracing new strategies and enhancing user services and value operations in response to market challenges[42] - The company plans to embrace new energy and optimize brand authorization structures as part of its strategy to adapt to market changes[51] Market Overview - The automotive industry in China produced and sold over 34 million vehicles in 2025, with new energy vehicles accounting for over 50% of sales, indicating a shift towards quality competition[42]

Business Strategy and Expansion - Jiangxi Rimag Group reported a focus on building a data-driven medical imaging ecosystem, emphasizing the integration of AI capabilities and data assets[10]. - The company aims to extend its service radius to cover 5-8 counties and townships through shared imaging service centers, enhancing access to medical resources in underdeveloped areas[12]. - A new "shared model" was successfully implemented at Suichuan County General Hospital, allowing multiple locations to utilize a single imaging service center, facilitating resource flow[11]. - The company is deepening operational experience in existing mature regions such as Jiangxi, Hunan, and Shaanxi, targeting rural healthcare improvements[12]. - The company is transitioning from physical layout expansion to a new phase of global collaboration and data interoperability[9]. - The company is actively pursuing international expansion, providing digital solutions in regions like Hong Kong and Turkey, and aiming to serve areas with scarce medical resources[14]. - The company is focused on digital transformation and has upgraded its three major business segments to enhance operational efficiency and revenue generation[31]. - The company is committed to long-term value creation and improving operational quality and profitability through strategic upgrades and cost control measures[31]. - The company is focusing on transforming resources into assets and then into business, emphasizing the importance of data flow within a secure framework[17]. - The company is committed to a strategy of "relying on China's manufacturing cost-effectiveness and service-first moderate investment," which will guide its international expansion efforts[83]. Financial Performance - The company's revenue for the year ended December 31, 2025, was approximately RMB 873.1 million, representing a year-on-year increase of 14.8% compared to RMB 760.6 million in 2024[29]. - Gross profit for 2025 was RMB 295.2 million, up 6.5% from RMB 277.3 million in 2024[29]. - The net loss for the year significantly improved to RMB 10.5 million from a loss of RMB 58.9 million in 2024, marking an 82.2% reduction in losses[29]. - The company achieved an EBITDA of RMB 216.2 million, reflecting a 30.8% increase from RMB 165.2 million in the previous year[29]. - Revenue from imaging center services was approximately RMB 553.8 million, a decrease of 8.5% compared to RMB 605.0 million for the fiscal year ending December 31, 2024, due to macroeconomic fluctuations and industry adjustments[43]. - Revenue from imaging solution services reached approximately RMB 292.6 million for the year ending December 31, 2025, representing a year-on-year growth of 93.9% compared to RMB 150.9 million for the year ending December 31, 2024, highlighting the growth potential of the light asset business model[53]. - Revenue from digital intelligence services reached approximately RMB 26.8 million for the year ending December 31, 2025, a 458.3% increase from approximately RMB 4.8 million for the year ending December 31, 2024[60]. Technology and Innovation - The AI-driven model "MIIA" is being utilized for comprehensive organ and lesion identification, indicating a shift from auxiliary to core functions in diagnostics[18]. - The company is building an ecosystem by collaborating with internet data service firms and medical institutions to enhance technological and research capabilities[22]. - The company is focusing on the commercialization of AI products, leveraging accumulated imaging data to develop AI-assisted diagnostic tools, which will contribute to direct revenue generation[40]. - The integration of AI products and information services has improved diagnostic efficiency and reduced operational costs for medical institutions[59]. - The company has developed the world's first multimodal, full-process medical imaging foundation model, significantly reducing AI tool development costs and data requirements[74]. - The company plans to introduce a modular AI-DIY platform for small and medium medical institutions, allowing users to quickly build customized AI applications based on their needs[146]. Governance and Compliance - The board of directors includes a mix of executive and independent members, ensuring diverse governance[6]. - The company has established a compliance advisory relationship with Hong Kong-based firms to enhance regulatory adherence[7]. - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors[174]. - The company has adopted corporate governance practices in line with the applicable code provisions, ensuring high standards of governance[173]. - The company has set up three board committees: the audit committee, the remuneration committee, and the nomination committee, each with defined terms of reference[190]. Talent Development and Training - The company emphasizes talent development as a core resource, focusing on cultivating medical professionals and operational talents to support its strategic upgrades and sustainable development[89]. - The group has conducted a total of 325 professional training sessions, covering areas such as radiology, ultrasound, and nuclear medicine, to enhance the capabilities of medical imaging professionals[94]. - The group has established partnerships with 7 medical universities to develop a comprehensive talent cultivation system, covering internships and employment-oriented training[96]. - The integration of physician training paths and clear promotion mechanisms has been implemented to enhance professional development and industry influence[93]. Market Position and Competitive Edge - The company is positioned as a leading medical imaging service provider in China, focusing on creating a more efficient, accessible, and intelligent medical imaging ecosystem[35]. - The company is enhancing its strategic partnerships with industry leaders, including Huawei and top hospitals, to optimize the industrial ecosystem and support high-quality development[37]. - The company aims to create a multi-dimensional growth pattern through core deepening and broadening expansion strategies, ensuring sustained revenue growth[41]. - The company is focusing on multi-field strategic cooperation to enhance its imaging center service capabilities and industry ecosystem, partnering with insurance, traditional Chinese medicine, oncology, and regional medical institutions[50].