（於中華人民共和國註冊成立的股份有限公司） （股份代號：03908） 二零二五年第三季度報告 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。 China International Capital Corporation Limited 中 國 國 際 金 融 股 份 有 限 公 司 本公告乃由中國國際金融股份有限公司（「公司」、「本公司」）根據《香港聯合交易所有限公 司證券上市規則》（「上市規則」）第13.09條及香港法例第571章《證券及期貨條例》第XIVA 部項下內幕消息條文（定義見上市規則）而作出。 由於本公司A股股票於上海證券交易所（「上交所」）上市，根據上交所對A股上市公司披露 季度報告的相關要求，本公司現公佈本公司及其附屬公司（「本集團」）根據中國企業會計 準則編製的截至2025年9月30日止九個月期間未經審計的財務報表。 本集團截至2025年9月30日止九個月期間未經審計業績摘要： - 1 - • 自 2025 年 1 月 1 日 至 ...

中海油田服務股份有限公司 CHINA OILFIELD SERVICES LIMITED (於中華人民共和國註冊成立之股份有限公司) （股票代號：2883） -- 13.10B 2025 2025年10月29日 中海油田服务股份有限公司 2025 年第三季度报告 证券代码：601808 证券简称：中海油服 中海油田服务股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信 息的真实、准确、完整。 （一） 主要会计数据和财务指标 1 / 11 单位：百万元 币种：人民币 项目 本报告期 本报告期 比上年同 期增减变 动幅度(%) 年初至报告期 末 年初至报告期 末比上年同期 增减变动幅度 (%) 营业收入 11,533.4 3.6 34,853.7 3 ...

Financial Performance - Net profit attributable to shareholders rose by 0.52% year-on-year to RMB 113,772 million for the first nine months of 2025[6]. - Operating income for Q3 2025 was RMB 81,359 million, reflecting a 2.11% increase compared to the same period last year[6]. - Basic earnings per share for Q3 2025 was RMB 1.54, up from RMB 1.32 in the same period last year, representing a 16.67% increase[6]. - The company's pre-tax profit for the first nine months of 2025 was RMB 135,089 million, reflecting a 0.76% increase year-on-year[6]. - The net profit for the nine months ended September 30, 2025, is RMB 114,537 million, slightly up from RMB 114,039 million in the same period last year[48]. - The net profit attributable to shareholders for the nine months ended September 30, 2025, is RMB 113,772 million, compared to RMB 113,184 million in the same period last year[48]. Asset and Liability Management - Total assets increased by 4.05% year-on-year to RMB 12,644,075 million as of September 30, 2025[6]. - Total liabilities increased by 4.12% to RMB 11,368.94 billion, primarily due to growth in customer deposits[25]. - The total number of ordinary shareholders reached 498,392, with 471,874 being A-share shareholders and 26,518 being H-share shareholders[8]. - The company's net assets per share increased by 4.22% year-on-year to RMB 43.21 as of September 30, 2025[6]. - The group's equity attributable to shareholders reached RMB 1,267.285 billion, an increase of 3.37% compared to the end of the previous year[26]. Customer Deposits and Loans - Customer deposits totaled RMB 9,518.70 billion, reflecting a 4.64% increase year-on-year, with retail customer deposits growing by 6.88%[25]. - The total loans and advances amounted to CNY 7,136.285 billion, growing by 3.60% from the end of the previous year[13]. - The average balance of loans and advances increased by 3.60% to RMB 71,362.85 billion, with corporate loans growing by 10.01%[24]. - The total customer deposits reached CNY 9,518.697 billion, an increase of 4.64% from the end of the previous year[13]. Non-Performing Loans and Credit Risk - The non-performing loan balance was CNY 67.425 billion, with a non-performing loan ratio of 0.94%, a decrease of 0.01 percentage points from the end of the previous year[14]. - The company's loan loss provision balance was RMB 262.123 billion, with a provision coverage ratio of 426.89%, an increase of 1.66 percentage points from the previous year[35]. - The company generated new non-performing loans of RMB 48.003 billion from January to September 2025, with an annualized NPL generation rate of 0.96%, a decrease of 0.06 percentage points year-on-year[34]. - The non-performing loan (NPL) ratio for the real estate sector was 4.24%, a decrease of 0.50 percentage points from the end of the previous year[27]. Income and Expense Management - The company's net interest income for the period was CNY 160.042 billion, representing a year-on-year increase of 1.74% and accounting for 63.69% of total operating income[16]. - Non-interest net income for the first nine months of 2025 was RMB 91.24 billion, a year-on-year decline of 4.27%, accounting for 36.31% of total operating income[19]. - The group maintained a cost-to-income ratio of 29.86%, an increase of 0.27 percentage points year-on-year, while focusing on lean management and cost control[21]. Risk Management and Compliance - The company will continue to enhance risk management and support compliance projects to stabilize the quality of real estate assets[28]. - The company is actively monitoring industry risks and implementing post-loan management to maintain overall asset quality stability[31]. - The company plans to enhance risk compliance management and adjust operational strategies in response to macroeconomic changes[36]. Capital Adequacy - The core tier 1 capital adequacy ratio was 13.93% as of September 30, 2025, a decrease of 0.93 percentage points from the end of the previous year[38]. - The total capital adequacy ratio is 17.40%, down 1.77 percentage points from the end of the previous year[41]. - The Tier 1 capital adequacy ratio under the weighted method is 13.99%, down 0.64 percentage points from the end of the previous year[43]. Customer Growth and Wealth Management - The number of retail customers increased to 220 million, representing a growth of 4.76% year-over-year[45]. - The number of high-net-worth clients (with average total assets of RMB 1 million or more) increased by 10.42% to 5.78 million[45]. - Wealth management fees and commissions increased by 18.76% to RMB 20.67 billion, driven by growth in distribution scale and product structure optimization[20].

Financial Performance - The adjusted loss for the fiscal year ended July 31, 2025, was HKD 14.8 million, a decrease of 32.3% compared to the adjusted loss of HKD 21.9 million for the fiscal year ended July 31, 2024[4]. - The net other (loss) income for the fiscal year ended July 31, 2025, was HKD (5,260) thousand, compared to HKD (309) thousand for the previous year[3]. - The fair value loss on investment properties was HKD (3,900) thousand for the fiscal year ended July 31, 2025, compared to HKD (3,400) thousand for the previous year[3]. - The fair value gain on financial assets classified at fair value through profit or loss was HKD 4,237 thousand for the fiscal year ended July 31, 2025[3]. - The fair value loss on listed equity securities was HKD (5,804) thousand for the fiscal year ended July 31, 2025, compared to a gain of HKD 3,200 thousand for the previous year[3]. - The net exchange difference was HKD 207 thousand for the fiscal year ended July 31, 2025, compared to a loss of HKD (109) thousand for the previous year[3]. - The total fair value loss on financial assets classified at fair value through profit or loss was HKD 1,567,000[3].

Financial Performance - The company's operating revenue for the current reporting period reached CNY 139.09 billion, representing a year-on-year increase of 14.09% compared to CNY 123.27 billion in the same period last year[5]. - Total profit for the current reporting period was CNY 2.40 billion, up 20.54% from CNY 1.99 billion in the previous year[5]. - Net profit attributable to shareholders of the listed company increased by 35.20% to CNY 1.85 billion from CNY 1.37 billion year-on-year[5]. - The basic earnings per share rose to CNY 0.54, a 35.00% increase compared to CNY 0.40 in the same period last year[5]. - Total operating revenue for the first three quarters of 2025 reached CNY 396.05 billion, a slight increase from CNY 392.22 billion in the same period of 2024, representing a growth of approximately 0.21%[31]. - Total operating profit for the first three quarters of 2025 reached CNY 7,809,237,434, an increase from CNY 6,999,545,030 in the same period of 2024, representing a growth of approximately 11.5%[32]. - Net profit attributable to shareholders for the first three quarters of 2025 was CNY 6,023,392,762, compared to CNY 4,984,199,890 in 2024, reflecting a year-over-year increase of about 20.9%[33]. - Basic earnings per share for the first three quarters of 2025 were CNY 1.74, up from CNY 1.44 in the same period of 2024, marking an increase of about 20.8%[34]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 235.50 billion, reflecting a year-on-year growth of 21.94% from CNY 193.13 billion[6]. - Total current assets amounted to CNY 157.66 billion, an increase from CNY 115.00 billion year-over-year, representing a growth of approximately 37.2%[25]. - Total non-current assets decreased slightly to CNY 77.84 billion from CNY 78.13 billion, indicating a decline of about 0.37%[26]. - Total liabilities increased to CNY 143.37 billion in 2025 from CNY 105.33 billion in 2024, reflecting a growth of approximately 36.1%[28]. - Total equity attributable to shareholders rose to CNY 81.68 billion in 2025, compared to CNY 77.95 billion in 2024, representing an increase of about 4.7%[29]. Cash Flow - The cash flow generated from operating activities for the year-to-date reached CNY 6.29 billion, a significant increase of 1,411.78% compared to CNY 495.43 million in the same period last year[5]. - Cash inflow from operating activities for the first three quarters of 2025 was CNY 439,736,745,734, slightly down from CNY 461,215,182,494 in 2024, reflecting a decrease of about 4.6%[37]. - Net cash flow from operating activities for the first three quarters of 2025 was CNY 6,287,997,514, a significant increase from CNY 415,932,993 in the same period of 2024[39]. - Cash inflow from investment activities totaled CNY 20,614,960,719 in the first three quarters of 2025, compared to CNY 13,557,330,374 in 2024, indicating a growth of approximately 52%[40]. - The net cash flow from financing activities for the first three quarters of 2025 was CNY 3,457,046,209, a decrease from CNY 11,465,145,183 in 2024, reflecting a decline of about 70%[40]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 125,640[14]. - The largest shareholder, Jiangxi Copper Group, holds 1,583,162,110 shares, representing 45.72% of total shares[15]. - The second largest shareholder, Hong Kong Central Clearing Limited, holds 1,074,152,863 shares, representing 31.02% of total shares[15]. - The top ten shareholders collectively hold significant stakes, with Jiangxi Copper Group and Hong Kong Central Clearing Limited accounting for over 76% of total shares[15]. Strategic Developments - The company has not disclosed any new product developments or market expansion strategies in this report[3]. - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed during the call[36]. - The company is actively exploring potential mergers and acquisitions to enhance its market position and operational capabilities[36]. - No significant new strategies or product developments were mentioned in the conference call[23].

Financial Performance - Total operating revenue for Q3 2025 was RMB 35,919,631 thousand, a decrease of 10.92% compared to RMB 31,629,676 thousand in the same period last year[6] - Net profit attributable to shareholders was RMB 2,533,314 thousand, representing a 20.32% increase from RMB 1,933,276 thousand year-on-year[6] - The net cash flow from operating activities for the year-to-date was RMB 22,977,330 thousand, an increase of 51.52% compared to RMB 11,978,623 thousand in the previous year[6] - The weighted average return on equity increased to 5.06%, up by 0.9 percentage points from 4.07% in the same period last year[6] - The company reported a total profit of RMB 4,160,541 thousand, which is a 30.63% increase from RMB 2,760,348 thousand in the same period last year[6] - The net profit after deducting non-recurring gains and losses was RMB 2,457,313 thousand, reflecting a 34.08% increase from RMB 1,835,320 thousand year-on-year[6] Assets and Shareholder Information - Total assets at the end of the reporting period were RMB 260,506,398 thousand, a decrease of 1.84% from RMB 265,401,631 thousand at the end of the previous year[7] - The total number of common shareholders at the end of the reporting period is 137,272[14] - China Huadian Group Co., Ltd. holds 5,298,924,481 shares, representing 45.63% of total shares[14] - Hong Kong Central Clearing Limited holds 1,801,503,618 shares, accounting for 15.51% of total shares[14] - Shandong Development Investment Holding Group Co., Ltd. owns 731,781,709 shares, which is 6.30% of total shares[14] - The top 10 shareholders include state-owned entities, with significant stakes held by China Huadian Group and Hong Kong Central Clearing[15] - The number of unrestricted circulating shares held by China Huadian Group is 4,620,061,224[15] Operational Changes and Governance - The company completed acquisitions of several energy companies, including an 80% stake in Huadian Jiangsu Energy Co., Ltd., which was consolidated into the financial statements starting June 1, 2025[8] - The company has not disclosed any significant operational changes during the reporting period[18] - The board of directors includes a mix of executive and independent directors, ensuring diverse governance[19] Non-Recurring Gains and Other Income - The company recognized non-recurring gains of RMB 76,001 thousand for the current period, with significant contributions from government subsidies and other operational income[9] - The company reported a significant increase in carbon emission trading income, amounting to RMB 101,664 thousand, which is closely related to its normal business operations[11] Financial Monitoring - The company emphasizes the importance of monitoring its financial statements as per Chinese accounting standards[18] - The report indicates no changes in the borrowing or lending of shares among the top shareholders[17]

Financial Performance - The company's revenue for the third quarter reached ¥637,496,183.86, representing a year-on-year increase of 31.40%[9] - The total profit for the quarter was a loss of ¥207,181,531.29, with a cumulative loss of ¥692,393,121.41 for the year-to-date[9] - The net profit attributable to shareholders was a loss of ¥183,004,561.78 for the quarter, with a year-to-date loss of ¥595,700,160.22[9] - The basic and diluted earnings per share for the quarter were both -¥0.18, with a year-to-date figure of -¥0.60[9] - The net loss for the first three quarters of 2025 was ¥674,309,869.11, compared to a net loss of ¥988,725,690.94 in the same period of 2024, showing an improvement of about 31.8%[26] - The company reported a basic and diluted earnings per share of -¥0.60 for the first three quarters of 2025, an improvement from -¥0.94 in the same period of 2024[27] Research and Development - Research and development expenses totaled ¥276,576,934.80, accounting for 43.38% of the revenue, a decrease of 24.21 percentage points compared to the previous year[10] - Research and development expenses for the first three quarters of 2025 amounted to ¥982,154,685.41, up from ¥874,268,925.53 in 2024, reflecting a growth of approximately 12.3%[26] - The company plans to accelerate the research and development of its pipeline and enhance its commercial competitiveness to drive future revenue growth[20] Assets and Liabilities - Total assets increased to ¥11,688,041,635.35, reflecting an 8.40% increase from the end of the previous year[10] - The total assets as of September 30, 2025, were ¥11,688,041,635.35, an increase from ¥10,781,960,410.10 at the end of 2024, representing a growth of approximately 8.4%[23] - Total liabilities as of September 30, 2025, were ¥5,392,722,223.47, compared to ¥4,849,830,645.95 at the end of 2024, indicating an increase of about 11.2%[23] Cash Flow - The company reported a net cash flow from operating activities of -¥343,410,268.17 for the year-to-date[9] - In the first three quarters of 2025, the cash inflow from operating activities was CNY 2,139,612,068.29, a 53.1% increase compared to CNY 1,396,882,602.67 in the same period of 2024[28] - The net cash flow from operating activities improved to -CNY 343,410,268.17 in 2025, compared to -CNY 1,113,472,084.61 in 2024, indicating a significant reduction in losses[28] - Cash inflow from investment activities totaled CNY 1,718,649,206.70, up from CNY 941,248,272.00 in 2024, marking an increase of 82.7%[29] - The net cash flow from investment activities was -CNY 908,789,645.64 in 2025, an improvement from -CNY 1,083,510,749.67 in 2024[29] - Cash inflow from financing activities reached CNY 3,533,008,134.16, compared to CNY 1,933,431,848.11 in the previous year, reflecting an increase of 82.6%[29] - The net cash flow from financing activities was CNY 1,542,571,317.86, up from CNY 900,030,196.23 in 2024, showing a strong improvement[29] Shareholder Information - The total number of common shareholders at the end of the reporting period was 35,887, with 35,877 A-share common shareholders and 10 H-share common shareholders[17] - The top 10 shareholders hold a total of 260,291,110 shares, representing 25.35% of the total shares[16] Product Performance - The core product, Toripalimab injection (brand name: Tuoyi®/LOQTORZI®), achieved sales revenue of approximately CNY 1.495 billion, representing a year-on-year growth of about 40%[18] - The company has received approvals for 12 indications of Toripalimab in mainland China, with 10 of them included in the national medical insurance catalog[19] - The dual-specific antibody (code: JS207) for non-small cell lung cancer has received FDA approval for a Phase II/III clinical trial application[19] - The application for a new indication of Tuoyi® for first-line treatment of HER2-expressing urothelial carcinoma has been accepted by the National Medical Products Administration[19] Financial Position - The company's cash and cash equivalents, along with trading financial assets, totaled CNY 3.27 billion, indicating a strong liquidity position[18] - The company's cash and cash equivalents increased to ¥2,769,693,779.60 as of September 30, 2025, from ¥2,502,201,285.66 at the end of 2024, reflecting a growth of approximately 10.7%[22] - The total equity attributable to shareholders increased to ¥6,216,157,386.49 as of September 30, 2025, compared to ¥5,860,424,336.29 at the end of 2024, representing a growth of about 6.1%[23] - The company's long-term investments increased to ¥359,926,356.80 as of September 30, 2025, compared to ¥223,334,442.32 at the end of 2024, indicating a growth of approximately 61%[22] Operational Management - The company is focused on improving operational management to enhance its self-sustaining capabilities[20] - The company attributed the increase in revenue to the growth in sales of commercialized pharmaceuticals and improved cost management strategies[13] - The company received significant technical licensing fees during the year, contributing to the financial performance[13] Capital Expenditures - The cash outflow for purchasing fixed assets and other long-term assets was CNY 509,553,908.28, down from CNY 620,759,009.17 in 2024, indicating a reduction in capital expenditures[29] Accounting Standards - The company did not apply new accounting standards for the current reporting period[30]

Financial Performance - Total operating revenue for the quarter was CNY 60,942,812,034, a decrease of 7.09% compared to the same period last year[8] - Net profit attributable to shareholders was CNY 5,579,020,173, an increase of 88.54% year-on-year[8] - The total profit for the quarter reached CNY 8,397,486,356, reflecting a significant increase of 59.32% compared to the previous year[8] - Basic earnings per share were CNY 0.31, up 106.67% from the same period last year[8] - The net profit excluding non-recurring gains and losses was CNY 5,235,104,448, an increase of 82.97% year-on-year[8] - Basic earnings per share increased to 52.83, primarily due to a year-on-year decrease in domestic fuel costs[22] - Total profit from the domestic power segment reached 132.68 billion RMB, a 102% increase compared to the same period last year[27] - Net profit for the first nine months of 2025 reached CNY 19.44 billion, up from CNY 13.36 billion in the same period of 2024, representing a growth of approximately 45.5%[41] - Operating revenue for the first nine months of 2025 was CNY 172.97 billion, down from CNY 184.40 billion in 2024, a decline of about 6.2%[41] - Basic earnings per share increased to CNY 0.81 from CNY 0.53, reflecting a growth of approximately 53%[42] - The company reported a total comprehensive income of CNY 19.51 billion for the first nine months of 2025, compared to CNY 13.33 billion in 2024, an increase of approximately 46%[42] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 22,024,543,598, representing a 13.59% increase year-on-year[8] - The company's cash and cash equivalents increased to 23.36 billion RMB from 19.93 billion RMB, reflecting a strong liquidity position[35] - Operating cash inflow for January to September 2025 was CNY 195.75 billion, a decrease of 4.3% from CNY 205.85 billion in the same period of 2024[44] - Net cash flow from operating activities increased to CNY 52.77 billion, up 22.3% from CNY 42.99 billion year-on-year[44] - Cash outflow for purchasing fixed assets and other long-term assets was CNY 36.94 billion, compared to CNY 35.78 billion in the previous year, reflecting a 3.2% increase[45] - Total cash inflow from financing activities was CNY 134.08 billion, down 15.2% from CNY 158.11 billion in the same period of 2024[46] - Cash outflow for debt repayment was CNY 112.41 billion, a decrease of 19.8% from CNY 140.26 billion year-on-year[46] - The net increase in cash and cash equivalents for the period was CNY 3.62 billion, significantly lower than CNY 10.48 billion in the same period of 2024[46] - The ending balance of cash and cash equivalents was CNY 22.22 billion, down from CNY 26.63 billion at the end of September 2024[46] - Cash received from investment activities totaled CNY 1.37 billion, an increase of 14.3% from CNY 1.20 billion in the previous year[45] - Cash received from issuing bonds was CNY 29.80 billion, a decrease of 42.7% compared to CNY 52.10 billion in the same period of 2024[46] - Cash dividends paid amounted to CNY 13.47 billion, an increase of 8.0% from CNY 12.48 billion in the previous year[46] Assets and Liabilities - Total assets at the end of the reporting period were CNY 596,198,991,252, an increase of 1.59% from the previous year[11] - Total assets increased to CNY 596.20 billion from CNY 586.84 billion, reflecting a growth of approximately 2.3% year-over-year[39] - Total liabilities decreased to CNY 380.25 billion from CNY 383.79 billion, a reduction of about 0.4%[38] - Long-term equity investments increased by 3.99%, influenced by the recognition of joint venture investment income and new investments in joint ventures[22] - Contract liabilities decreased by 76.21% as prepaid heating fees were gradually recognized as revenue following the end of the residential heating season[22] - The company's intangible assets increased by 7.09%, primarily due to direct procurement and amortization of intangible assets[22] Shareholder Information - The total number of common shareholders at the end of the reporting period was 94,586[30] - The top shareholder, Huaneng International Power Development Company, holds 32.28% of the shares[30] Operating Costs and Revenue Drivers - The company reported a decrease in operating revenue due to a decline in domestic power generation and average on-grid electricity prices[18] - The increase in net profit was primarily attributed to a decrease in domestic fuel costs compared to the previous year[18] - Operating costs decreased by 10.58%, mainly due to a reduction in domestic fuel costs year-on-year[28]

Financial Performance - The group's revenue increased by 23.0% from HKD 157,100,000 to HKD 193,200,000 for the fiscal year ending July 31, 2025[6]. - The group's loss increased by 5.3% from HKD 23,300,000 to HKD 24,500,000 for the same period[6]. - Adjusted loss decreased by 22.1% from HKD 21,900,000 to HKD 17,100,000[6]. - Total comprehensive loss for the year was HKD 24,806,000 compared to HKD 23,297,000 in the previous year[7]. - The group reported a basic and diluted loss per share of HKD 4.80, slightly improved from HKD 4.85 in the previous year[7]. - For the fiscal year ending July 31, 2025, the group recorded a loss of approximately HKD 24,525,000[12]. - The company reported a pre-tax loss attributable to owners of HKD 24,375,000 in 2025, slightly improved from a loss of HKD 24,615,000 in 2024, resulting in a basic loss per share of HKD 4.80 compared to HKD 4.85[33]. - The group recorded a loss of HKD 24.5 million for the year ending July 31, 2025, compared to a loss of HKD 23.3 million in 2024, primarily due to rising operating expenses[74]. Revenue Breakdown - The group generated total revenue of HKD 193,169,000 for the year 2025, representing an increase of 22.9% from HKD 157,084,000 in 2024[21]. - Revenue from private secondary school auxiliary education services was HKD 100,643,000 in 2025, up from HKD 95,481,000 in 2024, reflecting a growth of 4.1%[21]. - Revenue from private secondary day school services increased to HKD 16,261,000 in 2025 from HKD 12,553,000 in 2024, marking a growth of 29.5%[21]. - Revenue from external customers in Hong Kong was HKD 150,235,000 in 2025, compared to HKD 140,556,000 in 2024, indicating a growth of 6.0%[23]. - Revenue from school services surged by HKD 17,400,000 or 61.7% from HKD 28,200,000 to HKD 45,600,000, driven by increases in both mainland China and Hong Kong[65]. - Consulting services revenue rose significantly by HKD 10,900,000 or 252.1% to HKD 15,200,000, primarily due to the opportunities created by the Greater Bay Area integration policy[57]. - Revenue from supplementary education services and products increased by HKD 9,800,000 or 47.1% to HKD 30,700,000, with consulting services contributing an additional HKD 11,000,000[65]. - Revenue from the private secondary school support services grew by HKD 5,200,000 or 5.4% to HKD 100,600,000, supported by a diversified course offering strategy[64]. Assets and Liabilities - Cash and cash equivalents as of July 31, 2025, amounted to HKD 86,700,000, up from HKD 76,600,000 in 2024[4]. - The group's net assets decreased from HKD 54,123,000 in 2024 to HKD 29,250,000 in 2025[9]. - Non-current assets decreased from HKD 73,160,000 in 2024 to HKD 60,849,000 in 2025[8]. - Current liabilities increased from HKD 133,938,000 in 2024 to HKD 158,171,000 in 2025[8]. - As of July 31, 2025, the group's total current liabilities net amount was approximately HKD 26,908,000, including bank loans of HKD 71,857,000 that are repayable on demand[12]. - The group's debt-to-equity ratio increased to 325.1% as of July 31, 2025, compared to 189.0% in 2024, indicating a significant rise in leverage[79]. Operational Highlights - The company operates a network of 11 teaching centers and 75 classrooms in Hong Kong, accommodating up to 2,052 students[45]. - The company plans to diversify its educational services, including the introduction of international courses such as A-Level and IB programs[51]. - The company aims to leverage the growing demand for personalized services, contributing to revenue growth through increased enrollment in small group and one-on-one tutoring[51]. - The company has successfully optimized its teaching center network, despite a 5% reduction in maximum classroom capacity[51]. Employee and Operational Costs - Total employee costs rose to HKD 85,702,000 in 2025, up from HKD 69,835,000 in 2024, with other employee costs increasing significantly by 26% to HKD 78,014,000[26]. - Employee costs increased by HKD 15.9 million or 22.7% from HKD 69.8 million in 2024 to HKD 85.7 million in 2025, primarily due to business expansion in Hong Kong and mainland China[68]. - Tutor service fees rose by HKD 5.7 million or 16.9% from HKD 33.7 million in 2024 to HKD 39.4 million in 2025, driven by growth in school service offerings[69]. - Advertising and promotional expenses surged by HKD 2.6 million or 45.9% from HKD 5.7 million in 2024 to HKD 8.3 million in 2025, reflecting increased marketing efforts in mainland China[71]. - Printing and other operating expenses increased by HKD 13.2 million or 27.2% from HKD 48.5 million in 2024 to HKD 61.6 million in 2025, mainly due to support for study tour business and growth in private education services[72]. Governance and Risk Management - The company has appointed an external consultant to conduct an enterprise risk assessment and perform internal audit functions to review the effectiveness of its risk management and internal control systems for the fiscal year ending July 31, 2025[85]. - The internal audit will cover key areas including risk management systems, financial reporting processes, revenue and collections, and compliance with corporate governance codes[85]. - The board has confirmed that the risk management and internal control systems are appropriate and effective, and that procedures comply with listing rules and regulations[85]. Future Plans and Investments - The company does not have any specific future plans for significant investments or capital assets for the fiscal year ending July 31, 2025[90]. - The company plans to launch proprietary AI teaching tools to enhance service quality and support Hong Kong's development as an international education hub[61]. Shareholder Information - The annual general meeting is scheduled for December 19, 2025, with relevant documents to be published and sent to shareholders in due course[112]. - The company will suspend share transfer registration from December 16 to December 19, 2025, to determine voting rights for the upcoming annual general meeting[113]. - The preliminary announcement and annual report for the year ending July 31, 2025, will be published on the stock exchange and the company's website[114].

Financial Performance - Total revenue for the third quarter reached RMB 182,796,942.97, representing a year-on-year increase of 21.46%[7] - Net profit attributable to shareholders decreased by 17.89% to RMB 50,734,374.65 compared to the same period last year[7] - The total profit for the third quarter was RMB 52,308,161.65, showing a decline of 14.54% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 45,935,923.66, down 10.90% year-on-year[7] - Net profit for the first three quarters of 2025 was ¥174,109,768.79, a decrease of 6.5% from ¥185,312,027.04 in 2024[33] - Total comprehensive income for the first three quarters of 2025 is 166,919,281.15 RMB, down from 183,514,566.60 RMB in 2024, reflecting a decline of 9.0%[36] - Basic earnings per share for the first three quarters of 2025 is 1.72 RMB, compared to 1.99 RMB in 2024, indicating a decrease of 13.6%[36] Research and Development - Research and development expenses totaled RMB 38,820,117.14, an increase of 56.00% year-on-year, accounting for 21.24% of total revenue[7] - The company plans to continue strengthening its R&D efforts, as indicated by the significant increase in R&D investment[15] - Research and development expenses increased to ¥109,529,795.60 in the first three quarters of 2025, compared to ¥65,078,833.46 in 2024, reflecting a growth of 68.3%[32] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 5,113,512,174.92, reflecting a 93.02% increase from the previous year[9] - The company's equity attributable to shareholders increased by 94.57% to RMB 4,967,148,245.82 at the end of the reporting period[9] - Total assets as of September 30, 2025, amounted to ¥5,113,512,174.92, significantly higher than ¥2,649,250,831.90 at the end of 2024[30] - Total liabilities as of September 30, 2025, were ¥146,363,929.10, compared to ¥96,315,024.51 at the end of 2024, indicating an increase of 52.1%[29] - Non-current assets totaled ¥793,705,435.86 as of September 30, 2025, down from ¥1,013,069,756.50 at the end of 2024[28] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 46.55%, attributed to expanded sales and increased cash collections[15] - Cash inflow from operating activities for the first three quarters of 2025 is 651,559,134.32 RMB, an increase of 26.3% from 515,739,089.27 RMB in 2024[39] - Cash outflow from operating activities for the first three quarters of 2025 is 475,561,103.00 RMB, up from 395,644,447.67 RMB in 2024, representing an increase of 20.2%[40] - Cash flow from investing activities for the first three quarters of 2025 shows a net outflow of -2,465,387,521.44 RMB, compared to -439,257,398.39 RMB in 2024, indicating a significant increase in outflow[41] - Cash inflow from financing activities for the first three quarters of 2025 is 2,328,435,857.41 RMB, with no comparable figure provided for 2024[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 6,589[17] - The top ten shareholders hold a total of 35,154,431 shares, representing 30.86% of the total shares[18] - The number of H-share shareholders is 12, with HKSCC NOMINEES LIMITED holding shares on behalf of multiple clients[23] - There are no changes in the top ten shareholders due to securities lending or borrowing activities[24] - The company has not identified any relationships or concerted actions among the shareholders listed[21]