Share Issuance - The total number of shares issued by the company has increased to 126,000,000 shares as of December 31, 2024[3]. Options Plan - The total number of options available for grant under the plan remains unchanged at 8,000,000 shares, which is 6.34% of the total issued shares[5]. - No options were granted, exercised, canceled, or expired during the reporting period, maintaining the balance of 8,000,000 options available for grant[4]. - The options under the plan can be exercised at any time within 10 years from the date they are granted[6]. - The plan will remain effective for 10 years from its adoption date unless terminated early by the shareholders' meeting or the board of directors[6]. - The company has not granted any share options since the adoption of the plan in June 2018[7].

[Supplemental Announcement Regarding the Annual Report for the Year Ended December 31, 2024](index=1&type=section&id=Supplemental%20Announcement) This supplementary announcement provides additional information for Tai Hing Group Holdings Limited's annual report for the year ended December 31, 2024, focusing on the post-IPO share option scheme and board composition [Purpose and Scope of the Announcement](index=1&type=section&id=Purpose%20and%20Scope) This supplementary announcement provides additional details for Tai Hing Group Holdings Limited's 2024 annual report, specifically on the post-IPO share option scheme - This announcement supplements Tai Hing Group Holdings Limited's annual report for the year ended December 31, 2024[2](index=2&type=chunk) - It primarily provides supplementary information regarding the company's post-IPO share option scheme[2](index=2&type=chunk) - All other information in the annual report remains unchanged, except for the disclosures in this announcement[4](index=4&type=chunk) [Details of Post-IPO Share Option Scheme](index=1&type=section&id=Post-IPO%20Share%20Option%20Scheme%20Details) This section details the acceptance terms for share option offers under the post-IPO scheme, including the acceptance period and nominal consideration - The acceptance period for share option offers is no less than **three business days** from the offer date, excluding offers made within the last three business days of the scheme's term[3](index=3&type=chunk) - An offer is deemed accepted upon the company's receipt of a duly signed offer letter from the grantee and payment of a non-refundable nominal consideration of **HK$1.00** (or other nominal amount determined by the Board)[3](index=3&type=chunk) [Share Option Grant Status and Board Composition](index=2&type=section&id=Share%20Option%20Grant%20Status%20and%20Board%20Composition) As of this supplementary announcement, no share options have been granted under the post-IPO scheme, and the current board members are listed - No share options have been granted under the post-IPO share option scheme from its adoption date up to the date of this supplementary announcement[4](index=4&type=chunk) Board of Directors Composition | Position Category | Name | | :--- | :--- | | **Executive Directors** | Mr. Chan Wing On (Chairman) | | | Mr. Yuen Chi Ming | | | Ms. Chan Shuk Fong | | | Mr. Chan Ka Keung | | **Non-executive Director** | Mr. Ho Ping Ki | | **Independent Non-executive Directors** | Mr. Mak Ping Leung (also known as Mak Wah Cheung) | | | Mr. Wong Siu Hoi | | | Dr. Sat Chui Wan |

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 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。 本 公 告 僅 供 參 考，並 不 構 成 售 賣、出 售、收 購、購 買 或 認 購 本 公 司 任 何 證 券 的 邀 請 或 要 約。 World Super Holdings Limited 維亮控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8612） 有關二零二四年報之補充公告 謹 此 提 述 維 亮 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 之 年 報（「二零二四年報」）。除 文 義 另 有 所 指 外，於 本 公 告 所 採 用 之 詞 彙 與 二 零 二 四 年 報 所 界 定 者 具 有 相 同 涵 義。 本 公 司 董 事（「董 事」）會（「董事 ...

Financial Performance - Total revenue for the year ended June 30, 2025, was HKD 579,400,000, a decrease of 39.6% compared to HKD 959,084,000 for the previous period[4] - The gross profit for the year was HKD 39,499,000, down from HKD 49,905,000, reflecting a decline of 20.6%[5] - The company reported a net loss attributable to owners of HKD 7,450,000, compared to a loss of HKD 132,840,000 in the previous period, indicating an improvement[4] - The company reported a net loss attributable to owners of HKD 6,709,000 for the year ended June 30, 2025, compared to a loss of HKD 127,847,000 for the previous year, indicating a significant improvement[6] - Total comprehensive income for the year was HKD 3,273,000, a recovery from a loss of HKD 6,485,000 in the prior year[6] - The company reported a basic loss per share of HKD 1.32 for the year, compared to HKD 28.90 in the previous year, reflecting a substantial reduction in losses[7] - The group reported a net loss of approximately HKD 10,282,000 for the year ending June 30, 2025[15] - The group reported a pre-tax loss of HKD 7,450,000 for the year ending June 30, 2025, and a loss of HKD 132,840,000 for the period from January 1, 2023, to June 30, 2024[36] Expenses and Costs - The company experienced an operating loss of HKD 405,000, significantly improved from HKD 131,180,000 in the previous period[5] - Administrative and selling expenses decreased to HKD 75,130,000 from HKD 102,279,000, showing a reduction of 26.5%[5] - The financial costs decreased to HKD 29,235,000 from HKD 72,647,000[5] - The group reported interest expenses of HKD 29,235,000 for the period ending June 30, 2025, down from HKD 72,647,000 for the same period in 2024, indicating a significant reduction of approximately 59.8%[31] - The total revenue cost for the year ending June 30, 2025, was HKD 539,901,000, compared to HKD 909,179,000 for the previous period[32] - The employee benefit expenses (excluding directors and highest-paid executives) totaled HKD 84,545,000 for the year ending June 30, 2025[32] - The deferred tax expense for the year ending June 30, 2025, was HKD 9,213,000, compared to HKD 1,071,000 for the previous period[35] Assets and Liabilities - The company's non-current assets decreased to HKD 62,055,000 from HKD 67,511,000 year-over-year, primarily due to a reduction in right-of-use assets and intangible assets[8] - Current assets increased significantly to HKD 397,589,000 from HKD 296,745,000, driven by a rise in carbon credit assets and cash and cash equivalents[8] - Total liabilities increased to HKD 441,052,000 from HKD 365,654,000, with current liabilities rising to HKD 378,708,000 from HKD 331,308,000[9] - The company's equity attributable to owners rose to HKD 22,463,000 from HKD 2,176,000, indicating a recovery in shareholder value[9] - The group has contingent liabilities related to performance guarantees provided to banks amounting to HKD 15.2 million as of June 30, 2025, down from HKD 16.8 million in the previous year[43] Business Strategy and Future Outlook - The company plans to focus on expanding its carbon neutral business and digital technology sectors in the upcoming fiscal year[3] - Future guidance indicates a cautious outlook due to market conditions, with a focus on cost management and operational efficiency[3] - The company plans to continue focusing on market expansion and new product development to drive future growth[10] - The group plans to innovate in the new energy sector by developing an integrated business model for solar energy, charging, storage, and management[50] - The group aims to utilize blockchain and artificial intelligence technologies to develop an integrated online and offline platform for lithium battery utilization[50] - The group plans to invest more resources in the new energy business sector, particularly in battery recycling and establishing a recovery network[72] Segment Performance - The segment performance for the global carbon neutrality business showed a profit of HKD 25,265,000, while the civil engineering and construction business reported a loss of HKD 61,905,000 for the period ending June 30, 2025[26] - Revenue from civil engineering and construction business for the year was HKD 556.8 million, down from HKD 657.4 million in the previous period, with a gross profit of HKD 34.2 million and a gross margin of 6.1%[60] - The total contract amount for significant ongoing construction projects as of June 30, 2025, was approximately HKD 300 million, with unpaid amounts of HKD 115 million, compared to HKD 371 million and HKD 49 million respectively in the previous year[61] Regulatory and Compliance - The group has adopted revised Hong Kong Financial Reporting Standards (HKFRS) for the current fiscal year, which includes HKFRS 16 related to lease liabilities[19] - No early adoption of newly issued or revised HKFRS that are not yet effective has been made by the group[20] - The new HKFRS 18 will replace HKAS 1 for the presentation and disclosure of financial statements, introducing new requirements for performance indicators[22] - The group is evaluating the detailed impact of HKFRS 18 on its consolidated financial statements[23] Corporate Governance - The board does not recommend any final dividend payment for the current fiscal year[79] - The company has fully complied with the listing rules regarding the appointment and resignation of independent non-executive directors, with recent changes including the appointment of Ms. Qiao Yanlin and Mr. Cao Ming[81][82] - The audit committee currently consists of three members, all of whom are independent non-executive directors, and has reviewed the group's accounting principles and policies[86] - There have been no significant events affecting the group since the end of the reporting period[87]

ANNUAL REPORT 年報 2025 年 報 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed o ...

Investment Performance - The company reported a fair value loss of HKD 26,000,000 on its equity investment in Imagi Brokerage Limited due to poor performance in core brokerage operations and a decline in the market value of securities held by the investment target [3]. - The significant revenue decline in the brokerage business was attributed to a challenging market environment, prompting a reassessment of the investment's future prospects [3]. - The net asset value of the investment target decreased as a result of the decline in the market value of its securities investments [3].

[Company Information and Report Overview](index=1&type=section&id=Company%20Information%20and%20Report%20Overview) This section provides an overview of Champion Technology Holdings Limited and its annual results for the year ended June 30, 2025 [Report Statement and Company Profile](index=1&type=section&id=Report%20Statement%20and%20Company%20Profile) Champion Technology Holdings Limited released its annual results announcement for the year ended June 30, 2025 - Company Name: **CHAMPION TECHNOLOGY HOLDINGS LIMITED**[2](index=2&type=chunk) - Reporting Period: Year ended **June 30, 2025**[2](index=2&type=chunk) [Consolidated Financial Results](index=1&type=section&id=Consolidated%20Financial%20Results) This section presents the Group's consolidated financial performance and position for the year ended June 30, 2025 [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the year ended June 30, 2025, the Group's revenue significantly decreased by 72.7% to HK$57,311 thousand, with loss for the year expanding to HK$50,309 thousand Key Data from Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 57,311 | 208,612 | -72.7% | | Cost of sales | (53,073) | (197,212) | -73.1% | | Gross profit | 4,238 | 11,400 | -62.9% | | Other income, gains and losses | 4,792 | 2,246 | +113.4% | | General and administrative expenses | (37,565) | (22,692) | +65.5% | | Loss before tax | (51,445) | (12,776) | +302.7% | | Loss for the year | (50,309) | (12,222) | +311.6% | | Loss for the year attributable to owners of the Company | (44,226) | (12,420) | +256.1% | | Basic and diluted loss per share | (5.03) HK cents | (1.82) HK cents | +176.4% | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets slightly increased, with non-current assets rising to HK$45,629 thousand and net current assets growing to HK$74,935 thousand Key Data from Consolidated Statement of Financial Position | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | 45,629 | 42,383 | +7.7% | | Current assets | 256,551 | 220,006 | +16.6% | | Current liabilities | 181,616 | 157,820 | +15.1% | | Non-current liabilities | 11,284 | 8,100 | +39.3% | | Net current assets | 74,935 | 62,186 | +20.5% | | Net assets | 109,280 | 96,469 | +13.3% | | Equity attributable to owners of the Company | 115,423 | 96,494 | +19.6% | [Notes to the Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes and disclosures supporting the Group's consolidated financial statements [Basis of Preparation and Going Concern](index=5&type=section&id=Basis%20of%20Preparation%20and%20Going%20Concern) The Group has incurred losses for several consecutive years, with a net loss of HK$50,309 thousand this year, indicating significant going concern uncertainty - The Group has incurred losses for several consecutive years, with a net loss of **HK$50,309 thousand** this year, indicating significant going concern uncertainty[7](index=7&type=chunk)[32](index=32&type=chunk) - Management has implemented various measures to address going concern risks, including strengthening cost control, securing financial support from major shareholders, launching new hydrogen-oxygen generator business, and negotiating repayment schedules with trade creditors and debtors[7](index=7&type=chunk)[8](index=8&type=chunk) - The Directors believe the Group has sufficient cash resources and strong fundraising capabilities, making the preparation of financial statements on a going concern basis appropriate[8](index=8&type=chunk) [Application of Updated and Revised Hong Kong Financial Reporting Standards](index=6&type=section&id=Application%20of%20Updated%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards) The Group adopted several new and revised HKFRS this year, which had no material impact on financial performance, position, or disclosures for current and prior periods - The Group first applied several new and revised Hong Kong Financial Reporting Standards, including lease liabilities in sale and leaseback transactions, classification of liabilities, non-current liabilities with covenants, and supplier finance arrangements[10](index=10&type=chunk) - The application of new standards had no material impact on the financial performance and position for the current and prior years, though HKFRS 18 is expected to affect the presentation of profit or loss[10](index=10&type=chunk)[11](index=11&type=chunk) [Revenue and Segment Information](index=7&type=section&id=Revenue%20and%20Segment%20Information) Group revenue primarily from technology businesses significantly decreased by 72.7%, with smart city solutions contributing less, and operations segmented into five reportable categories - Group revenue refers to amounts received and receivable from the sale of products and provision of services to external customers[13](index=13&type=chunk) - The Group's operations are divided into five reportable segments: sale of cultural products, technology (smart city solutions, renewable energy), trading of refined oil and related businesses, and strategic investments[14](index=14&type=chunk) - Segment results represent the profit or loss before tax recognized by each reportable segment, excluding interest income, gains or losses on disposal of subsidiaries, fair value gains or losses on investment properties, finance costs, and unallocated income and expenses[15](index=15&type=chunk) [Revenue Composition](index=7&type=section&id=Revenue%20Composition) In 2025, smart city solutions revenue was HK$48,749 thousand and renewable energy products revenue was HK$8,562 thousand, totaling HK$57,311 thousand, a significant year-on-year decrease Revenue Composition | Revenue Source | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Technology—Smart City Solutions | 48,749 | 179,878 | -72.9% | | Technology—Design and Sale of Renewable Energy Products and Solutions | 8,562 | 28,734 | -70.2% | | **Total Revenue** | **57,311** | **208,612** | **-72.7%** | [Operating Segment Results](index=8&type=section&id=Operating%20Segment%20Results) In 2025, the smart city solutions segment reported a loss of HK$40,483 thousand, while strategic investments recorded a gain of HK$7,150 thousand, narrowing the overall segment loss Operating Segment Results (2025) | Segment | Revenue ('000 HKD) | Segment Results ('000 HKD) | | :--- | :--- | :--- | | Sale of Cultural Products | — | (285) | | Technology: Smart City Solutions | 48,749 | (40,483) | | Technology: Renewable Energy | 8,562 | 3 | | Strategic Investments | — | 7,150 | | Trading of Refined Oil and Others | — | (64) | | Shipping Business | — | — | | **Consolidated** | **57,311** | **(33,679)** | Operating Segment Results (2024) | Segment | Revenue ('000 HKD) | Segment Results ('000 HKD) | | :--- | :--- | :--- | | Sale of Cultural Products | — | (116) | | Technology: Smart City Solutions | 179,878 | (2,667) | | Technology: Renewable Energy | 28,734 | 1,363 | | Strategic Investments | — | (36,578) | | Trading of Refined Oil and Others | — | 261 | | Shipping Business | — | (10) | | **Consolidated** | **208,612** | **(37,747)** | [Gain on Disposal of a Subsidiary](index=11&type=section&id=Gain%20on%20Disposal%20of%20a%20Subsidiary) The Group completed the disposal of 100% equity in Liancheng Enterprise Limited for HK$45,900 thousand cash, realizing a gain of HK$32,136 thousand to streamline operations - The Group completed the disposal of 100% equity in Liancheng Enterprise Limited on **October 30, 2023**, for a cash consideration of **HK$45,900 thousand**[19](index=19&type=chunk)[20](index=20&type=chunk) - The disposal of the subsidiary generated a gain of **HK$32,136 thousand** and net cash inflow of **HK$45,897 thousand**[20](index=20&type=chunk) [Income Tax](index=12&type=section&id=Income%20Tax) Income tax credit increased to HK$(1,136) thousand in 2025, with varying tax rates for mainland China and Hong Kong entities Income Tax Credit | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | | :--- | :--- | :--- | | Current tax | 121 | 1,397 | | (Over-provision)/under-provision in prior years | (325) | (1,110) | | Deferred tax: credit for the year | (932) | (841) | | **Income Tax Credit** | **(1,136)** | **(554)** | - The corporate income tax rate for subsidiaries in mainland China is **25%**, and foreign-registered subsidiaries are subject to a **10%** withholding tax on income derived from mainland China[21](index=21&type=chunk) - Hong Kong profits tax adopts a two-tiered tax rate system, with the first **HK$2 million** of assessable profits taxed at **8.25%** and the remainder at **16.5%**[22](index=22&type=chunk) [Dividends](index=12&type=section&id=Dividends) No dividends were declared or proposed for the year ended June 30, 2025 - No dividends were declared or proposed for the year ended **June 30, 2025**[23](index=23&type=chunk) [Loss Per Share](index=13&type=section&id=Loss%20Per%20Share) Basic and diluted loss per share increased significantly to 5.03 HK cents in 2025 from 1.82 HK cents in 2024, primarily due to the expanded loss attributable to owners of the Company Loss Per Share | Indicator | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Loss for the year attributable to owners of the Company ('000 HKD) | (44,226) | (12,420) | +256.1% | | Weighted average number of ordinary shares ('000 shares) | 879,945 | 683,831 | +28.7% | | **Basic and Diluted Loss Per Share (HK cents)** | **(5.03)** | **(1.82)** | **+176.4%** | [Inventories](index=13&type=section&id=Inventories) As of June 30, 2025, total inventories slightly decreased to HK$6,894 thousand from HK$7,407 thousand in 2024 Inventory Composition | Inventory Category | 2025 ('000 HKD) | 2024 ('000 HKD) | | :--- | :--- | :--- | | Raw materials | 3,169 | 3,113 | | Work in progress | 269 | 720 | | Finished goods | 3,456 | 3,574 | | **Total Inventories** | **6,894** | **7,407** | [Trade and Other Receivables](index=14&type=section&id=Trade%20and%20Other%20Receivables) As of June 30, 2025, total trade and other receivables decreased to HK$153,341 thousand, with a significant increase in impairment loss provisions and overdue trade receivables Trade and Other Receivables | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Trade receivables (net of allowance) | 115,526 | 142,837 | -19.1% | | Other receivables (net of allowance) | 37,815 | 38,908 | -2.8% | | **Total** | **153,341** | **181,745** | **-15.7%** | | Less: Allowance for impairment loss (trade receivables) | (47,135) | (7,529) | +526.0% | - Trade receivables overdue for more than **365 days** (net of expected credit losses) significantly increased from **HK$5,406 thousand** in 2024 to **HK$117,980 thousand** in 2025[27](index=27&type=chunk) - The Group grants credit terms of **30 to 180 days** to trade customers, with cultural product sales on a cash-on-delivery basis[26](index=26&type=chunk) [Loans Receivable](index=16&type=section&id=Loans%20Receivable) As of June 30, 2025, total loans receivable (net of impairment loss allowance) significantly increased to HK$48,978 thousand, primarily from fourteen borrowers, unsecured but personally guaranteed, with annual interest rates of 6% to 8.5% Loans Receivable | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Loans receivable | 50,712 | 6,798 | +645.9% | | Less: Allowance for impairment loss | (1,734) | (174) | +896.6% | | **Total (net of allowance)** | **48,978** | **6,624** | **+639.4%** | - In 2025, loans receivable were from **fourteen borrowers** (2024: three), unsecured and personally guaranteed, with fixed annual interest rates ranging from **6% to 8.5%**[29](index=29&type=chunk) [Trade and Other Payables](index=16&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables increased to HK$170,785 thousand, with a significant rise in trade payables overdue for more than one year Trade and Other Payables | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Trade payables | 113,750 | 86,770 | +31.1% | | Other payables | 57,035 | 64,475 | -11.5% | | **Total** | **170,785** | **151,245** | **+13.0%** | - Trade payables overdue for more than **one year** increased from **HK$1,064 thousand** in 2024 to **HK$75,286 thousand** in 2025[30](index=30&type=chunk) - Credit terms for purchases of goods range from **30 to 120 days**[30](index=30&type=chunk) [Excerpt from Independent Auditor's Report](index=17&type=section&id=Excerpt%20from%20Independent%20Auditor%27s%20Report) This section presents key excerpts from the independent auditor's report, including their opinion and observations on going concern [Opinion](index=17&type=section&id=Opinion) The auditor believes the consolidated financial statements fairly present the Group's financial position as of June 30, 2025, and its financial performance and cash flows for the year, in compliance with HKFRS and the Hong Kong Companies Ordinance - The auditor believes the consolidated financial statements fairly present the Group's financial position, performance, and cash flows, in compliance with **Hong Kong Financial Reporting Standards** and the **Hong Kong Companies Ordinance**[31](index=31&type=chunk) [Financial Uncertainty Related to Going Concern](index=17&type=section&id=Financial%20Uncertainty%20Related%20to%20Going%20Concern) The auditor highlights the Group's consecutive losses, including a net loss of HK$50,309 thousand this year, indicating significant uncertainty regarding its ability to continue as a going concern, but their opinion remains unmodified - The auditor draws attention to the Group's consecutive losses, with a net loss of **HK$50,309 thousand** this year, indicating significant uncertainty regarding its ability to continue as a going concern[32](index=32&type=chunk) - The auditor's opinion is not modified in respect of this going concern uncertainty[32](index=32&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's perspective on the Group's business performance, financial results, and future outlook [Business Review](index=17&type=section&id=Business%20Review) The Group's business model focuses on comprehensive technology solutions, strategically shifting investment to green energy with breakthroughs in hydrogen-oxygen production, while scaling down smart city business and expanding renewable energy in Southeast Asia - The Group's business model centers on providing comprehensive technology solutions, integrating hardware and software, with core pillars including green energy, smart city solutions, and renewable energy[49](index=49&type=chunk) - The Group strategically shifted its investment focus to the green energy sector, achieving significant breakthroughs in hydrogen-oxygen production technology[33](index=33&type=chunk) - The smart city business was strategically scaled down due to long capital turnover cycles for customers and chip shortages caused by geopolitical sanctions[37](index=37&type=chunk)[54](index=54&type=chunk) - The renewable energy business, affected by changes in Hong Kong's feed-in tariff policy, is actively expanding into the Southeast Asian market[55](index=55&type=chunk)[56](index=56&type=chunk) [Green Energy Business](index=17&type=section&id=Green%20Energy%20Business) The Group achieved significant breakthroughs in hydrogen-oxygen production technology, launching a scalable water-to-gas machine and securing a major steam supply contract expected to generate over RMB10 million in annual cash flow - The Group achieved significant breakthroughs in hydrogen-oxygen production technology, substantially reducing manufacturing costs compared to traditional methods[33](index=33&type=chunk) - On **September 27, 2025**, the world's first scalable 'Chuang Zhi Rong Water-Energy Gas Generator' was launched, producing the exclusive patented 'Chuang Zhi Rong Super Hydrogen' technology[33](index=33&type=chunk) - The business model focuses on selling steam generated by the hydrogen-oxygen generator, rather than selling the equipment itself[33](index=33&type=chunk) - A steam supply contract has been signed with a leading textile enterprise in Guangdong, with an initial daily supply of **600 steam tons**, expected to generate stable positive cash flow of no less than **RMB10 million** annually[35](index=35&type=chunk) - The Group has allocated approximately **RMB25 million** to support the initial development of the hydrogen-oxygen project and reserved **HK$20 million** for working capital in Hong Kong and Vietnam renewable energy businesses[36](index=36&type=chunk) [Smart City Business](index=18&type=section&id=Smart%20City%20Business) The Group's smart city solutions, including smart buildings and IoT, prioritize cooperation with state-owned enterprises to mitigate bad debt risks, but have been strategically scaled back due to long settlement cycles and chip shortages from geopolitical sanctions - Smart city solutions business includes smart buildings, IoT, and internet data center businesses[52](index=52&type=chunk) - The Group's main clients are state-owned enterprises and well-known listed companies, posing low credit risk but facing extended capital turnover cycles[52](index=52&type=chunk)[54](index=54&type=chunk) - Due to geopolitical sanctions causing shortages of critical semiconductor chips and systems, China's data center business faces significant slowdowns, leading the Group to strategically scale down operations in this area[54](index=54&type=chunk) - Management believes some state-owned enterprises and central enterprises face challenges in repayment ability, but government support and reform measures keep overall risks controllable[38](index=38&type=chunk)[40](index=40&type=chunk) [Renewable Energy Business](index=23&type=section&id=Renewable%20Energy%20Business) The Group invested heavily in solar photovoltaic (SPV) technology, but Hong Kong's reduced feed-in tariff policy led to deferred orders; the Group is now promoting self-use SPV systems and expanding into Southeast Asian markets - The Group has invested significant resources in the research and development of solar photovoltaic (SPV) technology products[55](index=55&type=chunk) - The Hong Kong government's reduction of the Feed-in Tariff (FiT) policy and its planned termination by **December 2033** have diminished investment attractiveness, causing some customers to defer orders[55](index=55&type=chunk) - The Group actively collaborates with customers to promote the installation of solar power generation equipment for self-consumption after the FiT scheme expires and has successfully launched SPV system sales, design, and installation services for Southeast Asian clients[55](index=55&type=chunk)[56](index=56&type=chunk) - The SPV business has become the core of the renewable energy segment, achieving positive progress in both Hong Kong and Southeast Asia[57](index=57&type=chunk) [Cultural Products](index=25&type=section&id=Cultural%20Products) The Group prudently manages its cultural products business, monitoring market dynamics for optimal sales timing and using its official website to enhance public awareness - The Group continues to prudently manage cultural products, monitoring market dynamics to identify optimal sales opportunities[61](index=61&type=chunk) - Cultural products are showcased on the company's official website to enhance public awareness[61](index=61&type=chunk) [Securities Investments](index=25&type=section&id=Securities%20Investments) The Group engages in short-term investments in Hong Kong-listed securities, recording a fair value gain of approximately HK$19,400 thousand this year, with a portfolio comprising 8 Hong Kong-listed companies - The Group recorded a fair value gain on financial assets of approximately **HK$19,400 thousand** this year, compared to a loss of **HK$19,500 thousand** in 2024[47](index=47&type=chunk)[62](index=62&type=chunk) - As of **June 30, 2025**, the fair value of financial assets at fair value through profit or loss was approximately **HK$36,500 thousand** (2024: HK$10,400 thousand)[62](index=62&type=chunk) - The investment portfolio comprises securities of **8 Hong Kong-listed companies**, with **6** listed on the Main Board and **2** on GEM[62](index=62&type=chunk) Overview of Securities Investment Portfolio as of June 30, 2025 | Company Name/Stock Code | Equity Percentage (%) | Investment Cost (HKD) | Cumulative Unrealized Fair Value (Loss)/Gain (HKD) | Fair Value (HKD) | Percentage of Total (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Zijing International Financial Holdings Limited (Stock Code: 8340) | 0.17 | 12,571,851 | (12,525,801) | 46,050 | 0.13 | | Guofu Quantum Innovation Limited (Stock Code: 290) | 0.02 | 2,334,376 | (327,382) | 2,006,984 | 5.50 | | Shengliang Logistics Limited (Stock Code: 8292) | 0.03 | 2,286,000 | (2,188,800) | 97,200 | 0.26 | | Kai Shun Holdings Limited (Stock Code: 102) | 0.06 | 2,434,500 | (2,434,500) | — | 0.00 | | China Star Group Limited (Stock Code: 326) | 0.50 | 9,885,445 | 18,144,145 | 28,029,600 | 76.78 | | Contel Technology Holdings Limited (Stock Code: 1059) | 4.12 | 5,853,705 | (1,609,080) | 4,244,625 | 11.63 | | China Environmental Resources Group Limited (Stock Code: 1130) | 0.48 | 518,156 | 862,444 | 1,380,600 | 3.78 | | Casti Holdings Group Limited (Stock Code: 1413) | 0.45 | 2,008,600 | (1,306,800) | 702,000 | 1.92 | | **Total** | | **37,892,633** | **(1,385,774)** | **36,507,059** | **100.0** | [Lending Business](index=26&type=section&id=Lending%20Business) The Group provides fixed-rate term loans through its wholly-owned subsidiary, with total loans in mainland China increasing to RMB25.5 million and Hong Kong to HK$21.3 million in 2025, adhering to strict credit assessment and KYC procedures - Lending services are provided by wholly-owned subsidiaries, primarily utilizing idle funds to issue fixed-rate term loans to individuals or enterprises contacted through personal connections[64](index=64&type=chunk) - As of **June 30, 2025**, the total loan amount for mainland China subsidiaries was **RMB25.5 million** (2024: RMB4 million), with annual interest rates of **6-8%**[74](index=74&type=chunk) - As of **June 30, 2025**, the total loan amount for Hong Kong lending business was **HK$21.3 million** (2024: HK$2.5 million), with annual interest rates of **8-8.5%**[74](index=74&type=chunk) - The Group adheres to strict credit assessment and KYC procedures, including identity verification, address confirmation, obtaining business registration certificates, and has standard procedures for handling overdue loans[65](index=65&type=chunk)[66](index=66&type=chunk)[67](index=67&type=chunk)[68](index=68&type=chunk)[69](index=69&type=chunk)[71](index=71&type=chunk)[72](index=72&type=chunk)[73](index=73&type=chunk) [Geopolitical and Macroeconomic Environment](index=19&type=section&id=Geopolitical%20and%20Macroeconomic%20Environment) The Asia-Pacific region faces significant impacts from geopolitical conflicts, rising protectionism, and supply chain disruptions, driving countries to invest in digitalization, innovation, and regional trade agreements to enhance economic resilience - The Asia-Pacific region is affected by geopolitical conflicts (e.g., South China Sea disputes, North Korean nuclear weapons, US-China relations) and international protectionism (tariffs and trade barriers), leading to trade and investment uncertainties[39](index=39&type=chunk) - The COVID-19 pandemic highlighted global supply chain vulnerabilities, driving regionalization or diversification of production[39](index=39&type=chunk) - Countries in the region are enhancing economic resilience through investments in digitalization, promoting innovation, and strengthening regional trade agreements (e.g., CPTPP)[41](index=41&type=chunk) - Climate change presents economic impacts, spurring green technology innovation and investment[41](index=41&type=chunk) [Financial Performance Analysis](index=20&type=section&id=Financial%20Performance%20Analysis) Group revenue decreased by 72.7% to HK$57 million, with loss attributable to owners expanding to HK$44.2 million, influenced by reduced contributions from smart city and renewable energy businesses, but offset by a fair value gain on financial assets - Total revenue was approximately **HK$57,000 thousand**, a year-on-year decrease of approximately **72.7%**, primarily due to a significant reduction in data center business[42](index=42&type=chunk) - Loss attributable to owners of the Company was approximately **HK$44,200 thousand** (2024: HK$12,400 thousand), with the increased loss primarily due to reduced contributions from smart city solutions and renewable energy businesses[43](index=43&type=chunk) - Fair value of financial assets at fair value through profit or loss turned from a loss of **HK$19,500 thousand** in 2024 to a gain of approximately **HK$19,400 thousand** this year[43](index=43&type=chunk)[47](index=47&type=chunk) - Gross profit margin increased from **5.5%** in the prior year to **7.4%** this year, mainly due to a reduction in lower-margin smart city solutions business[43](index=43&type=chunk) [Revenue](index=20&type=section&id=Revenue) Total Group revenue was approximately HK$57,000 thousand, a significant year-on-year decrease of 72.7%, mainly due to the scaling down of data center business Revenue Overview | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 57,000 | 209,000 | -72.7% | - The decrease in revenue was primarily attributable to a significant reduction in data center business[42](index=42&type=chunk) [Loss Attributable to Owners of the Company](index=20&type=section&id=Loss%20Attributable%20to%20Owners%20of%20the%20Company) Loss for the year was approximately HK$50,300 thousand, with loss attributable to owners of the Company at HK$44,200 thousand, a substantial increase from last year, mainly due to reduced contributions from smart city solutions and renewable energy businesses Loss Overview | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Loss for the year | 50,300 | 12,200 | +312.3% | | Loss attributable to owners of the Company | 44,200 | 12,400 | +256.5% | - The increase in loss was primarily due to reduced contributions from smart city solutions and renewable energy businesses, combined with the fair value of financial assets turning from loss to gain[43](index=43&type=chunk) [Other Income, Gains and Losses](index=20&type=section&id=Other%20Income%2C%20Gains%20and%20Losses) Other income for the year was approximately HK$4,800 thousand, a significant increase from HK$2,200 thousand in 2024 Other Income | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Other income | 4,800 | 2,200 | +118.2% | [General and Administrative Expenses](index=21&type=section&id=General%20and%20Administrative%20Expenses) General and administrative expenses increased by approximately 65.5% to HK$37,600 thousand, mainly due to increased R&D and administrative costs from the new green energy business General and Administrative Expenses | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | General and administrative expenses | 37,600 | 23,000 | +63.5% | - The increase in expenses was primarily attributable to research and development and administrative expenses incurred by the newly launched green energy business[45](index=45&type=chunk) [Fair Value Gain/(Loss) on Financial Assets at Fair Value Through Profit or Loss](index=21&type=section&id=Fair%20Value%20Gain%2F%28Loss%29%20on%20Financial%20Assets%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) The Group recognized a fair value gain of approximately HK$19,400 thousand on financial assets this year, compared to a loss of HK$19,500 thousand in 2024, reflecting an improved stock market sentiment Fair Value Gain/(Loss) on Financial Assets | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | | :--- | :--- | :--- | | Fair value gain/(loss) on financial assets | 19,400 (Gain) | (19,500) (Loss) | - The fair value turned from loss to gain, reflecting an increasingly optimistic stock market sentiment[62](index=62&type=chunk) [Finance Costs](index=21&type=section&id=Finance%20Costs) Finance costs significantly increased to approximately HK$435 thousand this year from HK$40 thousand in 2024, primarily due to interest expenses from bank loans obtained during the year Finance Costs | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Finance costs | 435 | 40 | +987.5% | - The increase in finance costs was primarily attributable to interest expenses arising from bank loans obtained during the year[48](index=48&type=chunk) [Outlook](index=28&type=section&id=Outlook) The Group anticipates rapid transformation in global energy and technology, with hydrogen, data centers, and renewable energy as core businesses, prioritizing cross-sector collaboration to seize opportunities - The global energy and technology landscape is undergoing rapid transformation, driven by decarbonization, digitalization, AI, and electrification waves[75](index=75&type=chunk) - The Group's business covers three core areas: green energy (hydrogen-oxygen technology), data centers, and renewable energy[75](index=75&type=chunk) - Hydrogen, data centers, and renewable energy form three interconnected key elements crucial for achieving net-zero targets[87](index=87&type=chunk) [Green Energy Business Outlook](index=29&type=section&id=Green%20Energy%20Business%20Outlook) The Group's hydrogen-oxygen technology offers significant cost advantages, positioning it for explosive growth in the global hydrogen market, with an innovative steam sales model and substantial opportunities in China's steam market - The Group's hydrogen-oxygen production cost is significantly lower than traditional hydrogen, is not highly flammable, can be transported through ordinary plastic pipes without high-pressure compression, substantially reducing transportation and storage costs[77](index=77&type=chunk) - The global hydrogen energy market is projected to grow from **HK$71 billion** in 2024 to **HK$1.05 trillion** by 2030, with a compound annual growth rate of **56.75%**[78](index=78&type=chunk) - The Group will not directly sell hydrogen-oxygen generators but will integrate them with customized boilers to sell the steam produced by the equipment, expecting to receive substantial deposits from customers[79](index=79&type=chunk) - China's steam supply market is vast and continuously growing, with an annual market size reaching **hundreds of billions of RMB**, offering immense business opportunities for the Group[80](index=80&type=chunk)[82](index=82&type=chunk) [Renewable Energy Business Outlook](index=31&type=section&id=Renewable%20Energy%20Business%20Outlook) Renewable energy technologies continue to advance, with solar PV module efficiency exceeding 25%, driving an unprecedented global market expansion projected to reach HK$15.8 trillion by 2030, as the Group successfully completes SPV projects in Vietnam and explores new opportunities - In 2025, renewable energy technologies continue to advance in efficiency, integration, and economics, with commercial solar photovoltaic module efficiency exceeding **25%**[83](index=83&type=chunk) - Global renewable energy generation is projected to surge by **84%** by 2030, with the market size expected to expand at a compound annual growth rate of **12.17%** to **HK$15.8 trillion** by 2030[84](index=84&type=chunk) - The Group has successfully completed a solar photovoltaic system (SPV) project in Vietnam and is currently negotiating long-term large-scale SPV projects within Vietnam[84](index=84&type=chunk) - As the attractiveness of Hong Kong's feed-in tariff scheme wanes, the Group continues to explore other non-fixed-price acquisition SPV projects in Hong Kong and Southeast Asia, and is developing electricity storage technologies[76](index=76&type=chunk) [Smart City Solutions Business Outlook](index=31&type=section&id=Smart%20City%20Solutions%20Business%20Outlook) Data center innovation in 2025 focuses on performance, sustainability, and AI integration, with the market driven by AI and cloud expansion, projected to triple in global capacity by 2030 to US$652 billion, though grid bottlenecks may pose challenges - In 2025, data center innovation focuses on performance, sustainability, and AI integration, with rapid adoption of liquid cooling systems and continuous expansion of edge computing[85](index=85&type=chunk) - The data center market, driven by AI and cloud expansion, is projected to triple in global capacity by 2030, reaching a market size of **US$652 billion**[86](index=86&type=chunk) - The market size for AI-designed data centers is projected to reach **HK$5,080 billion** in 2025, soaring to **HK$7,280 billion** by 2030[86](index=86&type=chunk) - Electricity demand, driven by hyperscale enterprises, is expected to grow by **165%** by 2030, but limiting factors such as grid bottlenecks may slow development[86](index=86&type=chunk) [Conclusion](index=32&type=section&id=Conclusion) Hydrogen, data centers, and renewable energy are interconnected key elements for achieving net-zero goals, with technological advancements reducing costs and overcoming scalability barriers, projecting multi-trillion dollar market value by 2030 - Hydrogen, data centers, and renewable energy form three interconnected key elements crucial for achieving net-zero targets[87](index=87&type=chunk) - Technological leaps (high-efficiency electrolyzers, liquid-cooled AI racks, advanced photovoltaics) are progressively reducing costs and overcoming scalability barriers[87](index=87&type=chunk) - Market forecasts project multi-trillion dollar value creation by 2030, with success dependent on policy coordination, infrastructure investment, and supply chain resilience[87](index=87&type=chunk) [Cash Flow Liquidity and Financial Resources](index=32&type=section&id=Cash%20Flow%20Liquidity%20and%20Financial%20Resources) The Group maintains a positive financial position with total liquidity of HK$11,900 thousand and net current assets of HK$74,900 thousand, and a loan-to-equity ratio of 0.06 - The Group's financial position remains positive, with a reasonable loan-to-equity ratio[88](index=88&type=chunk) Cash Flow and Financial Resources Overview | Indicator | 2025 ('000 HKD) | 2024 ('000 HKD) | Change (%) | | :--- | :--- | :--- | :--- | | Total liquidity (cash and cash equivalents) | 11,900 | 14,700 | -19.1% | | Current assets | 257,000 | 220,000 | +16.8% | | Current liabilities | 181,600 | 158,000 | +14.9% | | Net current assets | 74,900 | 62,000 | +20.8% | | Loan-to-equity ratio | 0.06 | Not applicable | - | | Short-term loans | 7,100 | None | - | [Fundraising Activities](index=33&type=section&id=Fundraising%20Activities) The Group conducted two placings in 2024 and 2025, raising a total net amount of approximately HK$61,500 thousand, primarily for general working capital and green energy business operations - The Group conducted two placing activities in **2024** and **2025**, raising a total net amount of approximately **HK$61,500 thousand**[89](index=89&type=chunk)[91](index=91&type=chunk) [2024 Placing](index=33&type=section&id=2024%20Placing) A placing of 136,764,000 new ordinary shares was completed on July 19, 2024, raising approximately HK$23,000 thousand net, fully utilized for general working capital, renewable energy, data center operations, and green energy investments - A placing of **136,764,000** new ordinary shares was completed on **July 19, 2024**, at a net price of **HK$0.171** per share, raising approximately **HK$23,000 thousand** net[89](index=89&type=chunk)[90](index=90&type=chunk) Use of Proceeds from 2024 Placing | Use | Net Amount Allocated (million HKD) | Fully Utilized (million HKD) | | :--- | :--- | :--- | | General working capital of the Group | 8.0 | 8.0 | | Working capital for renewable energy business and data center | 10.0 | 10.0 | | Investment in green or renewable energy industry | 5.0 | 5.0 | | **Total** | **23.0** | **23.0** | [2025 Placing](index=34&type=section&id=2025%20Placing) A placing of 164,112,000 new ordinary shares was completed on February 4, 2025, raising approximately HK$38,500 thousand net, primarily for the Group's green energy business working capital, with HK$19,900 thousand utilized by June 30, 2025 - A placing of **164,112,000** new ordinary shares was completed on **February 4, 2025**, at a net price of **HK$0.238** per share, raising approximately **HK$38,500 thousand** net[91](index=91&type=chunk)[92](index=92&type=chunk) - The proceeds were primarily used for specific working capital of the Group's green energy business, with **HK$19,900 thousand** utilized as of **June 30, 2025**[91](index=91&type=chunk)[92](index=92&type=chunk) [Treasury Policy](index=34&type=section&id=Treasury%20Policy) The Group adheres to prudent financial management, funding operations through internal resources, capital markets, and bank borrowings, with minimal foreign exchange risk due to local currency denominated borrowings and direct hedging - The Group adheres to prudent financial management, primarily utilizing internal operating resources, capital market instruments, and bank borrowings for operations and business development funding[92](index=92&type=chunk) - All borrowings are denominated in local currencies, resulting in minimal foreign exchange risk, and no speculative derivative transactions are undertaken[92](index=92&type=chunk) - Foreign exchange risk is managed directly by matching foreign currency income and expenses[92](index=92&type=chunk) [Capital Commitments](index=35&type=section&id=Capital%20Commitments) As of June 30, 2025, the Group had no authorized but uncontracted capital commitments, compared to HK$5,500 thousand in 2024 - As of **June 30, 2025**, the Group had no authorized but uncontracted capital commitments[93](index=93&type=chunk) - In 2024, there was a capital commitment of approximately **HK$5,500 thousand** for capital injection into a domestic subsidiary[93](index=93&type=chunk) [Pledges](index=35&type=section&id=Pledges) As of June 30, 2025, the Group pledged a property in mainland China with a carrying value of approximately HK$24,100 thousand to secure bank loan facilities for its domestic operating subsidiary - As of **June 30, 2025**, the Group pledged a property in mainland China with a carrying value of approximately **HK$24,100 thousand** to secure bank loan facilities for its domestic operating subsidiary[94](index=94&type=chunk) [Contingent Liabilities](index=35&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group recorded contingent liabilities of HK$1,000 thousand, but directors believe a high probability of success in a claim against a subcontractor, thus no provision was made - As of **June 30, 2025**, the Group recorded contingent liabilities of **HK$1,000 thousand**, but the Directors believe there is a high probability of success, thus no provision was made[95](index=95&type=chunk) - The Group, as plaintiff, is seeking compensation from a subcontractor for at least **HK$500 thousand** in costs and **HK$5,300 thousand** in lost profits, supported by substantial evidence[95](index=95&type=chunk) [Significant Investments Held, Major Acquisitions and Disposals of Subsidiaries, Associates and Joint Ventures, and Future Plans for Major Investments or Capital Assets](index=35&type=section&id=Significant%20Investments%20Held%2C%20Major%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%20and%20Joint%20Ventures%2C%20and%20Future%20Plans%20for%20Major%20Investments%20or%20Capital%20Assets) Except as disclosed, for the year ended June 30, 2025, the Group held no significant investments, nor were there any major acquisitions or disposals of subsidiaries, associates, and joint ventures, or future plans for major investments or capital assets - Except as disclosed, for the year ended **June 30, 2025**, the Group held no significant investments, nor were there any major acquisitions or disposals of subsidiaries, associates, and joint ventures, or future plans for major investments or capital assets[96](index=96&type=chunk) [Remuneration Policy](index=35&type=section&id=Remuneration%20Policy) As of June 30, 2025, the Group employed approximately 45 staff with employee costs of HK$21,300 thousand, with remuneration determined by market levels, employee capabilities, performance, qualifications, and experience, and a share option scheme adopted for incentives - As of **June 30, 2025**, the Group employed approximately **45 staff** globally (2024: 41), with employee costs of approximately **HK$21,300 thousand** (2024: HK$12,700 thousand)[97](index=97&type=chunk) - Remuneration is determined by reference to market levels and based on each employee's capabilities, performance, qualifications, and experience[98](index=98&type=chunk) - Directors' remuneration is recommended by the Human Resources and Remuneration Committee, and a share option scheme has been adopted as an incentive[98](index=98&type=chunk)[99](index=99&type=chunk) [Final Dividend](index=36&type=section&id=Final%20Dividend) The Directors do not recommend the payment of any final dividend for the year ended June 30, 2025 - The Directors do not recommend the payment of any final dividend for the year ended **June 30, 2025**[100](index=100&type=chunk) [Events After Reporting Period](index=36&type=section&id=Events%20After%20Reporting%20Period) Except as disclosed, no significant events affecting the Group occurred after June 30, 2025 - Except as disclosed, no significant events affecting the Group occurred after **June 30, 2025**[101](index=101&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=36&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended June 30, 2025 - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended **June 30, 2025**[102](index=102&type=chunk) [Corporate Governance and Audit](index=36&type=section&id=Corporate%20Governance%20and%20Audit) This section details the Group's corporate governance practices and the scope of work performed by its auditor [Scope of Work of Certified Public Accountants Cheng & Cheng Limited](index=36&type=section&id=Scope%20of%20Work%20of%20Certified%20Public%20Accountants%20Cheng%20%26%20Cheng%20Limited) The consolidated financial statement figures in the preliminary announcement were agreed upon by auditor Cheng & Cheng Limited, but their work does not constitute an assurance engagement for this preliminary announcement - The consolidated financial figures contained in the preliminary announcement have been agreed upon by the auditor, **Cheng & Cheng Limited**[103](index=103&type=chunk) - The auditor's work does not constitute an assurance engagement, and therefore no assurance is expressed on this preliminary announcement[103](index=103&type=chunk) [Corporate Governance Code](index=36&type=section&id=Corporate%20Governance%20Code) The Company has complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules throughout the year ended June 30, 2025 - The Company has complied with the Corporate Governance Code set out in Appendix C1 of the Listing Rules throughout the year ended **June 30, 2025**[104](index=104&type=chunk) [Compliance with Model Code](index=36&type=section&id=Compliance%20with%20Model%20Code) The Company adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all Directors confirmed compliance throughout the year ended June 30, 2025 - The Company adopted the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 of the Listing Rules[105](index=105&type=chunk) - All Directors have confirmed compliance with the Model Code throughout the year ended **June 30, 2025**[105](index=105&type=chunk) [Audit Committee](index=37&type=section&id=Audit%20Committee) The Audit Committee reviewed the Group's accounting principles, internal controls, financial reporting, and the annual results for the year ended June 30, 2025 - The Audit Committee has reviewed the accounting principles and practices adopted by the Group, internal controls, and financial reporting matters[106](index=106&type=chunk) - The Audit Committee has reviewed the Company's annual results for the year ended **June 30, 2025**[107](index=107&type=chunk)

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，並表明概不會就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 SHIFANG HOLDING LIMITED 截至二零二五年六月三十日止年度 全年業績公告 財務摘要 十方控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事 會」）謹此宣佈本集團截至二零二五年六月三十日止年度的全年業績連同截至二 零二四年六月三十日止十八個月的比較數字。 1 • 於截至二零二五年六月三十日止年度，本集團收入為人民幣71.3百萬元，而 於截至二零二四年六月三十日止十八個月則為人民幣24.6百萬元。 • 於截至二零二五年六月三十日止年度，本集團毛利為人民幣12.9百萬元，而 於截至二零二四年六月三十日止十八個月則為人民幣5.4百萬元。 • 於截至二零二五年六月三十日止年度，本集團錄得虧損淨額人民幣42.3百萬 元，而於截至二零二四年六月三十日止十八個月則為人民幣18.2百萬元，主 要歸因於無形資產減值虧損。 • 於截至二零二五年六月三十日止年度，本集團錄得每股基本虧損人民幣 ...

Stock Option Plan - The stock option plan allows the company to grant rights to subscribe for up to 15,954,685 shares, representing approximately 9.30% of the issued shares as of the date of the 2024 annual report[3]. - As of June 30, 2024, a total of 8,958,290 stock options have lapsed, with no options granted, exercised, or cancelled during the fiscal year ending June 30, 2024[3]. - The number of stock options available for grant under the plan as of July 1, 2023, and June 30, 2024, is 6,996,395 and 15,954,685, respectively[3]. - The stock option plan is effective for a period of 10 years from the adoption date, unless otherwise cancelled or amended[3]. - No stock options were granted to connected persons or service providers that exceeded 0.1% of the relevant class of issued shares during any 12-month period as of July 1, 2023, and June 30, 2024[5]. - Any stock options granted must be approved by shareholders at a general meeting[4]. - The total value of stock options granted to connected persons must not exceed HKD 5,000,000 based on the closing price of shares on the grant date[4]. - The company emphasizes the importance of shareholder approval for any stock option grants to ensure compliance with listing rules[4]. Governance and Oversight - The company’s board of directors includes executive and independent non-executive directors, ensuring governance and oversight[7]. - The information in this announcement does not affect other data contained in the 2024 annual report[6].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 稀 鎂 科 技 集 團 控 股 有 限 公 司 RARE EARTH MAGNESIUM TECHNOLOGY GROUP HOLDINGS LIMITED （股份代號：601） 補充公告 有關截至2024年12月31日止年度之年報的進一步資料 茲提述稀鎂科技集團控股有限公司（「本公司」）截至2024年12月31日止年度之年報（「2024 年年報」）。除另行界定外，本公告所用詞彙與2024年年報所界定者具有相同涵義。 董事會謹此向本公司股東及潛在投資者提供以下補充資料，內容有關本公司於2017年12 月4日採納之購股權計劃（「購股權計劃」），該計劃詳情載於2024年年報董事會報告「購股 權計劃」一節。 根據計劃授權可授出之購股權數目 （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） 稀鎂科技集團控股有限公司 執行董事 沈世捷 香港，2025年10月2日 於本公告日期，董事局由兩名執行董事沈世捷 ...