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。 麗 珠 醫 藥 集 團 股 份 有 限 公 司 LIVZON PHARMACEUTICAL GROUP INC.* （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：1513） 截至2025年12月31日止年度的經審計業績公告 麗珠醫藥集團股份有限公司Livzon Pharmaceutical Group Inc.*（「本公司」，連同其附屬公 司統稱為「本集團」）董事會（「董事會」）謹此宣佈本集團截至2025年12月31日止年度經審計 業績。本業績公告列載本公司2025年度報告全文，並符合《香港聯合交易所有限公司證券 上市規則》中有關年度業績初步公告附載的資料之要求。 本公司2025年度報告於同日可在香港交易及結算所有限公司披露易網站(www.hkexnews.hk) 及本公司網站(www.livzon.com.cn)閱覽。 承董事會命 麗珠醫藥集團股份有限 ...

目錄 | 董事長致辭 | 2 | | --- | --- | | 財務摘要 | 8 | | 第一節 | 10 | | 重要提示和釋義 | | | 第二節 | 16 | | 公司簡介和主要財務指標 | | | 第三節 | 21 | | 管理層討論與分析 | | | 第四節 | 93 | | 公司治理及企業管治報告 | | | 第五節 | 124 | | 重要事項 | | | 第六節 | 147 | | 股份變動及股東情況 | | 第七節 財務報告 10 16 21 93 124 147 160 董事長 致辭 尊敬的各位股東： 一、業績穩健：穿越周期， 築牢高質量發展底盤 2025年，是中國醫藥行業在政策深化、技術躍遷與中國創新藥崛起的關鍵之年。面對集採常態化、醫保 控費趨嚴、合規監管升級等多重變革，麗珠始終秉持「以患者為中心、以臨床價值為導向」的初心，堅 定推進以創新和國際化引領發展，在夯實基本盤的同時，加速向全球化創新型製藥企業轉型。這一年， 我們不僅實現了業績穩健、創新突破、國際化提速、AI深度賦能與股東回報強化五大維度的協同躍升， 更在不確定性中鍛造出可持續的高質量發展能力。 2 麗珠醫藥集團股份有限公司 ...

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。 安徽海螺水泥股份有限公司 ANHUI CONCH CEMENT COMPANY LIMITED （在中華人民共和國註冊成立之股份有限公司） （股份代號：00914） 截至二零二五年十二月三十一日止年度業績 二零二五年度本公司營業額為人民幣 8,253,205 萬元（按國際財務報告準則），較二零 二四年度下降 9.33%； 二零二五年度本公司股東權益持有人應佔本年度淨利潤為人民幣 846,446 萬元（按國 際財務報告準則），較二零二四年度增長 5.12%； 二零二五年度每股盈利人民幣 1.60 元（按國際財務報告準則），較二零二四年度增長 0.07 元/股。 在本公告內，除非另有說明，貨幣單位均為人民幣（「人民幣」或「元」），中華人民 共和國（「中國」）法定貨幣；除非另有說明，本公告內所有財務資料均按照企業會計 準則（2006）（「中國會計準則」）編製。 一、本公司基本情況簡介 1、基本情況簡介 公司名 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 UBoT Holding Limited 優博控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8529） 全年業績公告 截至二零二五年十二月三十一日止年度 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的特色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險。有 意 投 資 的 人 士 應 了 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 的 考 慮 後 方 作 出 投 資 決 定。 由 於GEM上 市 公 司 普 遍 為 中 小 型 公 司，在GEM買賣之證券可能會較於主板買 賣 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 昆 侖 能 源 有 限 公 司 KUNLUN ENERGY COMPANY LIMITED (incorporated in Bermuda with limited liability) （股份代號：00135.HK） | 業績公佈 | | | | | --- | --- | --- | --- | | 本集團財務業績摘要 | | | | | | | 截至12月31日止年度 | | | | 2025年 | 2024年 | 變動% | | 天然氣總銷售量 （百萬立方米） | 59,255 | 54,170 | 9.39 | | 天然氣零售氣量 （百萬立方米） | 33,509 | 32,757 | 2.30 | | 人民幣百萬元 | | 人民幣百萬元 | | | 收入 | 193,979 | 187,046 | 3.71 | | 除所得稅費用前溢利 | 11,661 | 12,635 | (7.71) | ...

Financial Performance - Total revenue for the year ended December 31, 2025, was HKD 206,321,000, a decrease of 50% compared to HKD 413,551,000 in 2024[4] - The company reported a pre-tax loss of HKD (233,704,000) for 2025, compared to a loss of HKD (66,049,000) in 2024[5] - The group reported a total segment revenue of HKD 211,977,000 for the year ending December 31, 2025, a decrease from HKD 417,738,000 in 2024[18] - The group incurred a total segment loss of HKD 228,180,000 for the year ending December 31, 2025, compared to a loss of HKD 86,283,000 in 2024[19] - Total revenue decreased from HKD 414 million in 2024 to HKD 206 million in 2025, a decline of HKD 208 million, mainly due to net investment losses of HKD 107 million[51] Investment Performance - The net investment loss for 2025 was HKD (107,242,000), a significant decline from a net gain of HKD 118,808,000 in 2024[4] - The group’s investment loss for the year ending December 31, 2025, was HKD 107,242,000, compared to an investment gain of HKD 118,808,000 in 2024[18] - The net loss from investments was HKD (102,263,000) in 2025, compared to a gain of HKD 125,784,000 in 2024[22] - Investment losses amounted to HKD 107 million in 2025, compared to a net gain of HKD 119 million in 2024, reflecting a significant decline[62] Assets and Liabilities - The total assets decreased to HKD 3,729,670,000 in 2025 from HKD 4,189,276,000 in 2024, reflecting a reduction of approximately 11%[7] - The company’s equity attributable to shareholders decreased to HKD 1,689,729,000 in 2025 from HKD 1,993,359,000 in 2024, a drop of 15.3%[7] - The group’s total liabilities decreased to HKD 2,039,941,000 in 2025 from HKD 2,195,917,000 in 2024, a reduction of approximately 7.1%[7] - The group’s net assets as of December 31, 2025, were HKD 1.69 billion, down from HKD 1.99 billion on December 31, 2024, indicating a decrease of 12%[84] Revenue Sources - Commission income increased to HKD 129,930,000 in 2025 from HKD 89,909,000 in 2024, representing a growth of 44.5%[4] - The income from asset management business surged to HKD 24,758,000 in 2025 from HKD 8,847,000 in 2024, indicating a growth of 179%[22] - Brokerage commission income from Hong Kong securities increased to HKD 32,534,000 in 2025, up from HKD 19,768,000 in 2024, representing a growth of 64%[22] - Corporate financing revenue increased from HKD 9 million in 2024 to HKD 11 million in 2025, a growth of 22%[56] - Brokerage business revenue rose from HKD 65 million in 2024 to HKD 89 million in 2025, an increase of 37%[58] Cash and Cash Equivalents - Cash and cash equivalents decreased to HKD 112,189,000 in 2025 from HKD 156,675,000 in 2024, a decline of 28.3%[7] - As of December 31, 2025, the group's cash level was HKD 112 million, down from HKD 157 million on December 31, 2024, representing a decrease of 29%[83] Credit and Loans - Loans to margin clients decreased to HKD 532,264,000 in 2025 from HKD 610,217,000 in 2024[32] - Total credit loans amounted to HKD 5.090 billion as of December 31, 2025, an increase from HKD 4.583 billion in 2024, with unsecured loans at HKD 4.691 billion and secured loans at HKD 398.867 million[34] - The aging analysis of credit loans shows that as of December 31, 2025, HKD 42.64 million was within 30 days, while HKD 279.42 million was overdue by more than 90 days[78] Risk Management - The group has adopted a credit risk policy to manage its lending business, which includes compliance with applicable laws and regulations, credit assessments of potential borrowers, and evaluation of collateral[72] - The group applies current accounting standards for impairment assessments, updating expected credit loss amounts to reflect changes in credit risk since initial recognition[76] - The group’s risk management department conducts daily reviews of loan risk exposures and submits monthly reports to the executive committee[81] Dividends and Shareholder Returns - The company declared a special dividend of HKD 74,364,000 for the year, with a payout of HKD 0.012 per ordinary share[31] - The group decided not to recommend a final dividend for the year ending December 31, 2025, consistent with the previous year[51] - The board has adopted a dividend policy that requires future dividend distributions to be subject to operational and financial performance, liquidity status, and capital requirements[100] Market Conditions - The macroeconomic environment remains resilient despite geopolitical tensions, with notable increases in commodity prices, including gold rising approximately 65%[44] - The average daily trading volume in the Hong Kong market reached HKD 249.8 billion, a 90% increase compared to 2024[45] - The Hong Kong IPO market saw 119 companies listed, raising approximately HKD 285.8 billion, a 67.6% increase in the number of new listings compared to 2024[46] - The Hang Seng Index increased by 5,570 points or 27.8% in 2025, marking its best annual performance since 2017[45]

業績 竪寶國際控股有限公司（「本公司」之董事會（「董事會」）謹此宣佈本公司及其附屬公司（「本集團」）載 至二零二五年十二月三十一日止年度之綜合已審計業績連同二零二四年同期之比較數字如下： 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之内容概不負責·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内容而產生或因情賴該等内容而引致之任 何損失承擔任何責任。 K & P International Holdings Limited 堅寶國際控股有限公司* (於百慕達註冊成立之有限公司) ( 股份代號：675 ) 截至二零二五年十二月三十一日止年度之 全年業績公佈 | | 二零二开年 | 二零二四年 | | --- | --- | --- | | | 港元 | 港正 | | 本年度虧損 | (6,943,741) | (9.056.074) | | 其他全面虧損 | | | | 將不會重新分類至損益人賬之項目: | | | | 十地及樓宇之重估虧蝕 | (724.611) | (1,814,988) | | 所得稅影響 | (210,064) | 275.814 | | | ...

Financial Performance - The company's revenue for the year ended December 31, 2025, was HKD 206,491,000, a decrease of 15.6% from HKD 244,604,000 in 2024[4] - Other income decreased to HKD 1,014,000 from HKD 3,708,000, representing a decline of 72.7%[4] - The company reported a profit before tax of HKD 4,762,000, compared to a loss of HKD 6,312,000 in the previous year, indicating a turnaround[4] - The net profit for the year was HKD 3,577,000, a significant improvement from a loss of HKD 8,487,000 in 2024[4] - Basic and diluted earnings per share increased to HKD 1.46 from a loss of HKD 4.56 in the previous year[4] - The group reported a profit attributable to owners of approximately HKD 2.1 million for the year ended December 31, 2025, compared to a loss of approximately HKD 6.6 million for the year ended December 31, 2024, marking a turnaround of approximately HKD 8.7 million[55] Assets and Liabilities - Non-current assets decreased to HKD 6,787,000 from HKD 27,140,000, reflecting a reduction of 75.0%[5] - Current liabilities decreased to HKD 35,224,000 from HKD 56,094,000, a reduction of 37.1%[5] - The group reported a net current liability of approximately HKD 8,686,000 and a net liability of HKD 2,924,000 as of December 31, 2025[17] - The group faced a net debt of HKD 2.9 million as of December 31, 2025, and sought financial assistance from its immediate holding company[61] - The current ratio improved to approximately 0.8 as of December 31, 2025, compared to 0.5 in 2024[56] Revenue Sources - The company operates restaurants in Hong Kong and sells goods in China, focusing on market expansion strategies[8] - High-end dining revenue decreased to HKD 111,128,000 in 2025 from HKD 140,320,000 in 2024, representing a decline of 20.8%[22] - Revenue from external customers in Hong Kong decreased to HKD 201,264,000 in 2025 from HKD 244,604,000 in 2024, while revenue from China was HKD 5,227,000[25] - The group established a new business segment in China for goods sales, generating approximately HKD 5.2 million in revenue for the year ended December 31, 2025, compared to none in 2024[50] - The group has diversified its revenue sources by collaborating with an e-commerce platform in China, allowing direct marketing and sales of a wide range of products[47] Cost Management - The total employee costs decreased to HKD 74,689,000 in 2025 from HKD 97,445,000 in 2024, a reduction of about 23.3%[28] - The cost of materials and inventory for restaurant services was approximately HKD 53.7 million for the year ended December 31, 2025, accounting for about 26.7% of restaurant service revenue, maintaining a stable cost-profit ratio compared to 26.3% in 2024[51] - Employee costs decreased from approximately HKD 97.4 million for the year ended December 31, 2024, to about HKD 74.7 million for the year ended December 31, 2025, a reduction of approximately HKD 22.7 million due to the closure of several restaurants[53] Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix C1, with compliance noted for the year ending December 31, 2025, except for deviation from code D.2.2 regarding internal audit functions[80] - The Audit Committee, established on January 23, 2018, consists of three independent non-executive directors and is responsible for reviewing the company's annual and interim reports, as well as overseeing financial reporting procedures and internal control systems[82] - The independent auditor, Hong Kong Lixin Dehao CPA Limited, confirmed that the financial figures in the performance announcement are consistent with the consolidated financial statements for the year ending December 31, 2025[83] Future Outlook - The group has committed to maintaining sufficient operating funds to meet its liabilities and responsibilities during the forecast period[19] - The new e-commerce business segment is expected to be a key driver of the group's performance, aiming to offset pressures faced by the restaurant business and establish a sustainable growth model[48] - There are no major investments or acquisitions planned for the upcoming year as of the announcement date[64] Dividends and Shareholder Information - The company did not declare or propose any dividends for the year, consistent with 2024[31] - The company does not recommend any final dividend for the year ending December 31, 2025, consistent with the previous year[75] - Following the share consolidation on October 20, 2025, the total number of issued shares was adjusted from 579,890,000 to 144,972,500[57] Compliance and Risk Management - The group has no significant credit risk exposure due to transactions primarily settled in cash and credit cards, with limited risk from banking balances[60] - The group has no significant contingent liabilities as of December 31, 2025, unchanged from 2024[63] - The group has no pledged deposits or assets as of December 31, 2025, consistent with 2024[59]

Financial Performance - Revenue for the year ended December 31, 2025, reached RMB 4,465,644, an increase of 36.0% compared to RMB 3,284,576 in 2024[2] - Gross profit for the same period was RMB 1,404,229, reflecting a 36.7% increase from RMB 1,027,319 in 2024[3] - Net profit attributable to shareholders for the year was RMB 501,317, representing a 52.4% increase from RMB 328,931 in 2024[3] - Adjusted net profit (non-IFRS) was RMB 570,333, up 36.4% from RMB 418,086 in the previous year[2] - Basic and diluted earnings per share for the year were RMB 4.81, a 49.4% increase from RMB 3.22 in 2024[3] - Operating profit before tax was RMB 675,468, compared to RMB 449,402 in 2024[3] - Total comprehensive income for the year amounted to RMB 492,950, up from RMB 328,962 in 2024[4] Assets and Liabilities - Total assets increased to RMB 2,981,426 thousand in 2025 from RMB 1,855,783 thousand in 2024, representing a growth of 60.5%[5] - Cash and cash equivalents rose significantly to RMB 1,208,354 thousand in 2025, up from RMB 342,659 thousand in 2024, marking an increase of 252.5%[5] - Total liabilities increased to RMB 1,000,863 thousand in 2025, compared to RMB 616,113 thousand in 2024, reflecting a growth of 62.3%[5] - The company's net asset value reached RMB 1,925,103 thousand in 2025, up from RMB 1,184,086 thousand in 2024, indicating a growth of 62.6%[6] - The company's equity increased from RMB 1,184,086 thousand in 2024 to RMB 1,925,103 thousand in 2025, a rise of 62.6%[6] Revenue Breakdown - Revenue from franchise sales amounted to RMB 3,616,601 thousand in 2025, up from RMB 2,632,201 thousand in 2024, representing a 37% growth[20] - Revenue from franchise services increased to RMB 690,394 thousand in 2025, compared to RMB 537,066 thousand in 2024, marking a 29% rise[20] Expenses and Costs - The group reported a cost of sold inventory of RMB 2,648,781 thousand for 2025, an increase from RMB 1,931,267 thousand in 2024, reflecting a significant rise in operational costs[29] - The group’s income tax expense for 2025 was RMB 174,151 thousand, compared to RMB 120,471 thousand in 2024, indicating a year-over-year increase of approximately 44.5%[31] - Sales and marketing expenses increased by 27.9% to RMB 504.2 million, compared to RMB 394.1 million in the previous year, mainly due to higher employee compensation and increased advertising expenses[62] - Administrative expenses rose by 17.7% to RMB 205.8 million from RMB 174.9 million, primarily driven by increased employee compensation[63] Market Expansion and Strategy - The company plans to continue expanding its market presence and investing in new product development to sustain growth[2] - The company aims to enhance store operational quality and profitability, actively optimizing its store network while closing underperforming locations[47] - The franchise model allows for low initial investment and comprehensive support, contributing to sustainable network expansion[45] - The company emphasizes product development, introducing seasonal products and local specialties to meet changing consumer preferences[48] Digital Transformation and R&D - The company plans to enhance its digital transformation and operational efficiency through increased investment in information technology and data analysis[59] - The company aims to enhance its R&D capabilities to align with consumer trends, focusing on the integration of tea and coffee products to stimulate diverse consumer demand[56] Shareholder Matters - The group plans to distribute a final dividend of RMB 105,203,020 thousand, pending approval at the upcoming annual general meeting[32] - The board proposed a final dividend of RMB 10 per 10 shares, totaling approximately RMB 105.2 million, pending shareholder approval[96] - The annual general meeting is scheduled for June 24, 2026, to discuss various corporate matters, including the proposed dividend[97] Corporate Governance - The company has fully complied with the corporate governance code since its listing date until December 31, 2025, except for a deviation regarding the separation of roles between the Chairman and CEO[99] - The audit committee, consisting of three directors, has reviewed the consolidated annual performance for the year ending December 31, 2025[103] - The independent auditor, Ernst & Young, has verified the financial statements for the year ending December 31, 2025, but did not provide any audit opinion on the announcement[104]

Financial Performance - The company's revenue for the year ended December 31, 2025, was HKD 3,667,924, a decrease of 70.5% compared to HKD 12,440,369 in 2024[3] - Gross profit for the same period was HKD 732,262, down 65.6% from HKD 2,130,708 in 2024, with a gross margin of 20.0%, an increase of 2.9 percentage points from 17.1%[3] - The loss attributable to equity holders of the company was HKD 961,892, representing a 190.4% increase from HKD 331,190 in the previous year[3] - Total revenue from customer contracts for 2025 was HKD 2,864,367,000, a significant decrease from HKD 11,646,525,000 in 2024, representing a decline of approximately 75.4%[26] - Revenue from property sales in 2025 was HKD 2,585,369,000, down from HKD 11,351,331,000 in 2024, indicating a decrease of about 77.2%[26] - Other income for 2025 totaled HKD 46,682,000, a decrease of 57.5% compared to HKD 109,696,000 in 2024[27] - The company reported a significant reduction in legal case settlement expenses, with no settlements recorded in 2025 compared to HKD 100,028,000 in 2024[6] - The company recorded a net loss of HKD 1,088,789,000 for the year, compared to a loss of HKD 372,828,000 in 2024[47] Assets and Liabilities - The company's net asset value per share decreased by 2.9% to HKD 2.65 from HKD 2.73 in 2024[3] - The debt-to-equity ratio increased to 77.8% from 64.8% in the previous year[3] - Total non-current assets amounted to HKD 28,365,162, an increase from HKD 27,532,710 in 2024[6] - Current liabilities decreased to HKD 14,381,943 from HKD 17,960,765 in 2024[7] - The total amount of properties held for sale and under development decreased to HKD 12,737,528,000 in 2025 from HKD 14,578,442,000 in 2024[32] - Trade receivables increased to HKD 374,342,000 in 2025 from HKD 263,641,000 in 2024, indicating improved collection efforts[33] - The total loans of the group amounted to approximately HKD 19,357,881,000 as of December 31, 2025, an increase from HKD 17,803,227,000 in 2024[49] Revenue Sources - Property sales revenue accounted for 70.5% of total revenue, recording HKD 2,585,369,000, down from HKD 11,351,331,000 in 2024[41] - Rental income increased by 1.2% to HKD 803,557,000, contributing 21.9% to total revenue[40] Financial Reporting and Standards - The consolidated financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and presented in Hong Kong dollars (HKD) with amounts rounded to the nearest thousand[10] - The financial statements include the results of the company and its subsidiaries for the year ending December 31, 2025, with subsidiaries consolidated from the date of control[11] - The group has adopted the revised Hong Kong Accounting Standard 21 regarding the lack of exchangeability, which does not impact the financial statements[14] - The group plans to apply new and revised Hong Kong Financial Reporting Standards once they become effective, including HKFRS 18 and HKFRS 19[16] - The revised HKFRS 18 introduces new requirements for the presentation of the income statement, categorizing all income and expenses into five specific categories[17] - The group is currently analyzing the impact of the new HKFRS 18 on its financial statement presentation and disclosures[19] - There are no early adoptions of any other issued but not yet effective standards or amendments[14] - The group will adjust the financial statements of subsidiaries as necessary to align with the group's accounting policies[13] - The group will reassess control over subsidiaries if any of the control factors change, with any loss of control resulting in derecognition of related assets and liabilities[12] - Non-controlling interests in subsidiaries will be presented separately, reflecting the rights of holders to share in the net assets upon liquidation[13] Operational Overview - The company operates primarily in residential and commercial property development, property investment, and hotel operations in mainland China[9] - The company’s operations are entirely based in mainland China, with all revenue and non-current assets sourced from this region[23] - The company has six ongoing projects with a total construction area of 906,000 square meters, and delivered a total area of 122,000 square meters during the year[39] - The company has a land reserve of 27 projects across 10 key cities, with a total planned saleable area of approximately 3,232,000 square meters, sufficient for 3 to 5 years of development[38] Corporate Governance and Management - The board of directors includes executive directors Mr. Huang Haiping, Mr. Li Zhonghui, and Ms. Zhou Yadong, along with independent non-executive directors Mr. Du Huikai, Dr. Fan Renda, Mr. Li Jiahui, and Dr. Chan Ho Wah[68] - Dr. Fan Renda will no longer serve on the nomination committee of Semiconductor Manufacturing International Corporation but will continue as an independent non-executive director and chairman of the remuneration committee[66] - Dr. Chan Ho Wah has been appointed as an independent non-executive director of Kunming Dianchi Water Co., Ltd., effective September 26, 2025[66] - Ms. Zhou Yadong has been appointed as a member of the company's nomination committee, effective November 12, 2025[66] - The company expresses sincere gratitude to the board, management, employees, customers, suppliers, business partners, and shareholders for their continuous support throughout the year[67] Future Outlook and Strategy - The group aims to enhance operational resilience and ensure stable and orderly operations while providing long-term stable returns to shareholders[53] - The group plans to optimize the layout of investment properties and focus on high-quality development opportunities in line with national policy directions[53] - The group will take necessary measures in the future to mitigate the impact of currency fluctuations[50] Dividend Policy - The company did not declare any final dividends for the year ended December 31, 2025, consistent with the previous year[34] - The group will not recommend the distribution of any final dividend for the year ended December 31, 2025, consistent with the previous year[56] Compliance and Regulations - The company maintains the public float required by the listing rules as of the announcement date[62] - The company has adopted a customized code of conduct for securities trading by directors and relevant employees, ensuring compliance with the standard code as per listing rules until December 31, 2025[64] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website, including all applicable information as per listing rules for the year ending December 31, 2025[65]