Financial Performance - For the six months ended January 31, 2026, the company reported revenue of HKD 354,442,000, a slight decrease of 0.3% compared to HKD 355,359,000 in the same period last year[4] - Gross profit increased to HKD 222,444,000, representing a 11.8% increase from HKD 198,992,000 year-on-year[4] - Operating profit for the period was HKD 27,378,000, a significant recovery from an operating loss of HKD 16,818,000 in the previous year[4] - The company recorded a profit before tax of HKD 9,645,000, compared to a loss before tax of HKD 40,584,000 in the same period last year[4] - Net profit for the period was HKD 8,352,000, a turnaround from a net loss of HKD 41,383,000 in the previous year[5] - Basic and diluted earnings per share for the period were HKD 0.005, compared to a loss per share of HKD 0.024 in the previous year[4] Assets and Liabilities - Total non-current assets decreased to HKD 469,605,000 from HKD 535,826,000 as of July 31, 2025[6] - Current liabilities exceeded current assets by HKD 71,265,000, with total current liabilities at HKD 1,129,342,000[8] - Total assets as of January 31, 2026, were HKD 1,527,682,000, down from HKD 1,631,619,000 as of July 31, 2025[13] - Total liabilities as of January 31, 2026, were HKD 1,487,339,000, compared to HKD 1,596,522,000 as of July 31, 2025[13] - As of January 31, 2026, total trade receivables amounted to HKD 89,715,000, with HKD 51,709,000 being current and HKD 7,314,000 overdue by more than 90 days[26] - Total trade payables as of January 31, 2026, were HKD 475,715,000, with HKD 42,290,000 due within 30 days[27] Operational Strategies - The company has implemented plans to manage working capital and improve financial conditions due to the current liabilities situation[8] - The board believes that the company will have sufficient working capital to meet its operational and financial obligations for the next twelve months[9] - The company plans to continue cost-saving measures and is in discussions for rent reductions or restructuring[11] - The company intends to sell several non-core assets to streamline operations and reduce operational costs[11] - The company is focusing on controlling capital expenditures to enhance financial stability[11] Revenue Streams - The company reported a significant increase in entertainment activity revenue to HKD 64,467,000 for the six months ended January 31, 2026, from HKD 42,011,000 in 2025[15] - Revenue from film and television decreased by approximately 8.6% year-on-year, primarily due to a reduction in the number of films released, with only 2 films released in the current period compared to 6 in the previous year[34] - Revenue from the film and television production and distribution segment was HKD 29,000,000, down from HKD 31,800,000 in the previous year, with a loss of HKD 13,100,000 compared to a profit of HKD 15,300,000 in the previous year[43] Employee and Governance - The group employed approximately 400 full-time employees and 290 part-time employees as of January 31, 2026, down from 440 full-time and 470 part-time employees a year earlier[50] - The group has maintained a competitive salary level for employees and offers various benefits including stock option plans and medical allowances[50] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ended January 31, 2026[52] - The group has complied with all applicable corporate governance codes during the reporting period[49] Market Conditions - The Hong Kong economy showed significant growth, with a GDP increase of 3.5% for the full year 2025, supported by factors such as a rebound in visitor numbers, which reached 49.9 million, a 12% year-on-year increase[29] - The cinema industry faced challenges, with box office revenue declining by approximately 16% in 2025, marking the lowest level in 13 years[30] Future Plans - The company plans to continue investing in high-quality original films and television series, particularly focusing on Chinese themes, to meet the demand from domestic broadcasters and online video platforms[31] - Recent concerts received positive feedback, and the company aims to collaborate with well-known local and Asian artists for future events[31] - The group held 10 concerts featuring local and Asian artists during the review period, an increase from 15 concerts in the previous year[40] - The group released 10 albums during the review period, up from 6 in the previous year, indicating a focus on expanding its music production and publishing[41]

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。 NONGFU SPRING CO., LTD. 農夫山泉股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：9633） 截 至2025年12月31日止年度之 全年業績公告 2025年全年業績摘要 綜合損益表 截 至2025年12月31日止年度 | | | | 2025年 | 年 | | | --- | --- | --- | --- | --- | --- | | | | 附 註 | 人民幣千元 | 2024 人民幣千元 | | | 收 | 益 | 3 | 52,552,910 | | | | 銷售成本 | | | (20,744,806) | 42,895,992 | | | | | | | (17,980,277) | | | 毛 | 利 | | 31,808,104 | | | | ...

Financial Performance - The group recorded revenue of approximately HKD 149.4 million for the six months ended January 31, 2026, a decrease of about 1.4% compared to approximately HKD 151.5 million for the same period in 2025[2] - The total profit and comprehensive income decreased by approximately 4.3% to about HKD 13.4 million for the six months ended January 31, 2026, down from approximately HKD 14.0 million for the same period in 2025[2] - Earnings per share for the six months ended January 31, 2026, was approximately HKD 1.34, compared to HKD 1.40 for the same period in 2025[2] - Gross profit for the six months ended January 31, 2026, was HKD 31.2 million, down from HKD 37.5 million in the previous year, reflecting a decrease of approximately 16.8%[4] - The group’s operating profit for the six months ended January 31, 2026, was HKD 15.9 million, compared to HKD 17.0 million for the same period in 2025, indicating a decline of about 6.3%[4] - The company reported a profit attributable to shareholders of HKD 13,413,000 for the six months ended January 31, 2026, compared to HKD 14,001,000 for the same period in 2025, reflecting a decrease of about 4.2%[17] - The company's profit attributable to owners decreased by approximately 4.3% from about HKD 14.0 million for the six months ended January 31, 2025, to about HKD 13.4 million for the six months ended January 31, 2026[26] - Earnings per share for the period was approximately HKD 1.34, a decrease of about 4.3% compared to approximately HKD 1.40 for the same period last year[27] - Revenue decreased by approximately 1.4% from about HKD 151.5 million to about HKD 149.4 million, primarily due to a decrease in rental income of about HKD 6.8 million[28] Dividends - The board declared an interim dividend of HKD 0.015 per share, expected to be paid on April 29, 2026[2] - The company declared a dividend of HKD 20,000,000 for the year-end dividend per share of HKD 0.02, compared to HKD 15,000,000 for the previous year-end dividend per share of HKD 0.015[17] - The board declared an interim dividend of HKD 0.015 per ordinary share, payable on April 29, 2026, to shareholders listed on the register as of April 15, 2026[44] Assets and Liabilities - The group’s total assets less current liabilities amounted to HKD 456.4 million as of January 31, 2026, compared to HKD 465.1 million as of July 31, 2025[5] - Inventory as of January 31, 2026, was HKD 96.8 million, slightly down from HKD 98.7 million as of July 31, 2025[5] - Trade and lease receivables as of January 31, 2026, amounted to HKD 66,337,000, with an expected credit loss provision of HKD 2,596,000, resulting in a net receivable of HKD 63,741,000[19] - The debt-to-equity ratio as of January 31, 2026, was approximately 0.4%, slightly down from 0.5% on July 31, 2025, indicating a stable financial condition[38] Costs and Expenses - The total cost of goods sold for the six months ended January 31, 2026, was HKD 77,553,000, up from HKD 69,575,000 in the previous year, marking an increase of approximately 11.4%[16] - Administrative and other operating expenses decreased by approximately 18.3% to about HKD 18.3 million, primarily due to reduced overall operating costs[33] - The total employee cost for the period was approximately HKD 28.3 million, a slight decrease from HKD 28.8 million for the six months ended January 31, 2025, with 111 full-time employees as of January 31, 2026[43] Revenue Sources - For the six months ended January 31, 2026, external customer revenue totaled HKD 149,393,000, with heavy equipment sales contributing HKD 92,274,000, rental of heavy equipment HKD 50,744,000, and logistics and other services HKD 6,375,000[11] - The group reported a total of HKD 108.7 million in customer contract revenue for the six months ended January 31, 2026, compared to HKD 103.4 million in the previous year, reflecting an increase of approximately 5.5%[9] Other Income and Gains - Other income for the six months ended January 31, 2026, was HKD 1,755,000, significantly higher than HKD 391,000 in the previous year, representing an increase of approximately 348.3%[13] - Other income increased by approximately 350.0% to about HKD 1.8 million, mainly due to foreign exchange gains[31] - The company recorded a reversal of provisions for trade and lease receivables of about HKD 1.2 million during the period[32] Future Outlook and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[52] - New product launches are expected to contribute an additional HKD 300 million in revenue, with a focus on innovative technologies[52] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2027[52] - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration[52] - Research and development expenses increased by 18%, reflecting the company's commitment to innovation and product development[52] - The company plans to implement new marketing strategies aimed at increasing brand awareness and customer engagement[52] - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[52] Financial Ratios and Metrics - As of January 31, 2026, the current ratio was approximately 14.0 times, an increase from 12.2 times on July 31, 2025, with cash and bank balances of approximately HKD 137.8 million[37] - The gross margin improved to 45%, up from 42% in the previous year, indicating better cost management[52] Miscellaneous - The group did not engage in any significant acquisitions or disposals during the period, nor did it have any major investments or capital asset plans as of January 31, 2026[41] - There were no significant contingent liabilities or asset pledges related to bank borrowings as of January 31, 2026[42] - The company has not issued or agreed to issue any share options under the share option scheme since its adoption, with no unexercised options as of January 31, 2026[47] - The group has no formal foreign currency hedging policy but closely monitors foreign currency risks, considering hedging when necessary[40] - The board is not aware of any significant events affecting the group that occurred after the end of the period and up to the date of the announcement[50]

Financial Performance - Revenue for the year ended December 31, 2025, was HKD 2,066,303, representing a 10.8% increase from HKD 1,865,354 in 2024[2] - Gross profit increased by 12.8% to HKD 388,955 compared to HKD 344,921 in the previous year[2] - Operating profit surged by 49.3% to HKD 41,685, up from HKD 27,914 in 2024[2] - Annual profit from continuing operations reached HKD 20,762, an increase of 87.7% from HKD 11,063 in 2024[2] - The company reported a basic earnings per share of HKD 1.55 from continuing operations, compared to HKD 0.31 in the previous year[4] - The company reported a total comprehensive income of HKD 14,495, compared to a loss of HKD 21,079 in 2024[5] - The operating profit for the year was HKD 41,685,000, with a net profit of HKD 20,762,000 after tax expenses of HKD 23,963,000[13] - The total investment income reported was HKD 8,357,000 for the year, contributing to the overall financial performance[13] Assets and Liabilities - Total assets amounted to HKD 1,784,978, an increase from HKD 1,569,405 in 2024[6] - Current liabilities increased to HKD 988,308 from HKD 825,004 in 2024[6] - The net asset value rose to HKD 1,325,102, compared to HKD 1,310,517 in the previous year[7] - Trade receivables increased to HKD 509,728,000 in 2025 from HKD 500,493,000 in 2024, with net trade receivables at HKD 482,647,000[24] - Trade and bills payables rose to HKD 638,991,000 in 2025 from HKD 523,852,000 in 2024[26] - As of December 31, 2025, the total outstanding bank loans amounted to approximately HKD 147,495,000, an increase from HKD 115,259,000 as of December 31, 2024[52] - The net cash position of the group was approximately HKD 422,111,000 as of December 31, 2025, up from HKD 392,068,000 a year earlier[52] - The group’s equity attributable to shareholders was approximately HKD 1,248,798,000 as of December 31, 2025, compared to HKD 1,241,637,000 as of December 31, 2024[52] - The company reported a net debt ratio of 0% as of December 31, 2025, holding a net cash balance[53] Revenue Breakdown - The revenue breakdown by segment for 2025 included HKD 505,087,000 from industrial consumables, HKD 580,410,000 from injection molded products, HKD 973,640,000 from machinery, and HKD 7,166,000 from machinery leasing[13] - The company reported a significant increase in revenue from Mainland China, reaching HKD 1,840,664,000 in 2025, compared to HKD 1,578,096,000 in 2024, marking a growth of approximately 16.6%[16] Expenses - Other income, gains, and losses for 2025 amounted to approximately HKD 21,295,000, down from HKD 35,180,000 in 2024, primarily due to a foreign exchange loss of HKD 4,386,000[29] - Distribution expenses increased by 7.0% to approximately HKD 191,536,000 in 2025, accounting for about 9.3% of revenue, compared to 9.6% in 2024[30] - Administrative expenses rose by 2.3% to approximately HKD 177,029,000 in 2025, driven by increased employee costs[31] - Financial expenses decreased by 24.9% to approximately HKD 10,386,000 in 2025, attributed to declining interest rates[32] Market and Competition - The company anticipates continued intense competition in the global injection molding machine market next year, with a focus on expanding into high-growth potential industries such as food and beverage packaging, medical packaging, automotive parts, and 3C home appliances[36] - The company has implemented a "big customer first" strategy, prioritizing resources for leading customers in various segments, resulting in explosive order growth from several major clients[37] - The group anticipates continued price competition pressure in the coming year, focusing on optimizing production processes and cash flow management to maintain order volumes[44] Product Development and Innovation - The company successfully launched the new SeKIII series of medium and small standard injection molding machines and the JSeIII series of medium and large two-plate injection molding machines, enhancing product competitiveness and aligning with market price demands[34] - The company aims to enhance product automation and intelligence levels, focusing on import substitution and artificial replacement product development to strengthen product competitiveness[39] - The company continues to deepen product design innovation capabilities, focusing on customized solutions and functional packaging optimization to enhance consumer experience and help clients maintain competitive advantages[41] - The company plans to solidify the "front-end collaborative R&D" model as a core competitive advantage and aims to co-develop more new product projects with clients by 2026[42] - The digital management integration with the self-developed smart management cloud platform "iSee 4.0" and MES has been successfully completed, focusing on big data and AI analysis to enhance production efficiency and customer service experience[43] Workforce and Corporate Governance - The workforce increased to 1,778 employees as of December 31, 2025, up from 1,743 employees the previous year, with a gender ratio of 29:71[57] - The company has adhered to all applicable corporate governance codes during the fiscal year ending December 31, 2025[63] - There were no purchases, sales, or redemptions of the company's listed securities during the fiscal year ending December 31, 2025[62] Future Outlook - The company anticipates a complex global political and economic environment in 2026, with potential impacts from geopolitical conflicts and rising commodity prices[58] - The domestic manufacturing sector is expected to exhibit a "polarized" development pattern, with smaller firms facing significant challenges due to price competition[59] - The company plans to prioritize resource allocation towards high-growth potential industries, focusing on tailored solutions for leading enterprises[60] - Investment in AI technology is expected to enhance production processes and customer service, with a commitment to improving data security measures[61] Dividends and Meetings - The company did not recommend a final dividend for the year ended December 31, 2025[2] - The board does not recommend the payment of a final dividend for the year ending December 31, 2025, similar to the situation for December 31, 2024[65] - The annual general meeting will be held on June 17, 2026[66] - Share transfer registration will be suspended from June 10, 2026, to June 17, 2026, inclusive[67] Audit and Reporting - The auditor, KPMG, has confirmed that the figures in the announcement align with the audited financial statements for the year ending December 31, 2025[68] - The final results announcement and the annual report for 2025 will be published on the company's website and the Hong Kong Stock Exchange website[69]

Financial Performance - Revenue for 2025 was RMB 6,612.6 million, an increase of 1.1% compared to RMB 6,539.6 million in 2024[4] - Gross profit for 2025 was RMB 2,165.0 million, up 5.8% from RMB 2,045.8 million in 2024[4] - Net profit for 2025 reached RMB 903.5 million, representing a 13.0% increase from RMB 799.5 million in 2024[4] - Profit attributable to owners of the company for 2025 was RMB 854.0 million, a rise of 15.5% compared to RMB 739.4 million in 2024[4] - Basic and diluted earnings per share for 2025 were RMB 0.88, up from RMB 0.76 in 2024[7] - Total revenue for the year ended December 31, 2025, was RMB 6,612,566 thousand, an increase from RMB 6,539,569 thousand in 2024, representing a growth of approximately 1.1%[19] - Total expenses for the year ended December 31, 2025, amounted to RMB 5,510,824 thousand, a decrease of 0.55% from RMB 5,541,986 thousand in 2024[25] - Government grants recognized in the year ended December 31, 2025, were RMB 132,148 thousand, an increase of 50% from RMB 88,103 thousand in 2024[26] - Net financing income for the year ended December 31, 2025, was RMB 37,724 thousand, down 46% from RMB 69,770 thousand in 2024[27] - Income tax expense for the year ended December 31, 2025, was RMB 371,948 thousand, a slight decrease from RMB 378,636 thousand in 2024[28] - Basic earnings per share for the year ended December 31, 2025, increased to RMB 0.88 from RMB 0.76 in 2024, reflecting a growth of 15.79%[36] - Proposed final dividend per share for the year ended December 31, 2025, is RMB 0.5252, compared to RMB 0.3950 in 2024, representing a 33% increase[39] - The company reported a net loss from foreign exchange of RMB 13,515 thousand for the year ended December 31, 2025, compared to a loss of RMB 5,835 thousand in 2024[26] - Net profit for the year increased by 13.0% to RMB 903.5 million, with a net profit margin rising from 12.2% in 2024 to 13.7% in 2025[72] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 5,939.7 million, compared to RMB 5,799.3 million in 2024[5] - Total liabilities decreased to RMB 994.8 million in 2025 from RMB 1,066.1 million in 2024[6] - Cash and cash equivalents increased to RMB 2,084.5 million in 2025 from RMB 1,881.9 million in 2024[5] - Trade receivables from third parties amounted to RMB 63,671 thousand in 2025, compared to RMB 48,424 thousand in 2024, reflecting an increase of approximately 31.5%[20] - The company reported a net trade receivables balance of RMB 256,349 thousand as of December 31, 2025, slightly down from RMB 285,405 thousand in 2024[20] - The total amount of trade payables as of December 31, 2025, was RMB 403,586 thousand, a decrease from RMB 482,210 thousand in 2024[24] - The debt-to-asset ratio improved to 16.7% from 18.4% in the previous year, with no bank borrowings reported[75] - The company's debt-to-equity ratio as of December 31, 2025, was 2.4%, up from 2.0% in 2024[83] Revenue Breakdown - Revenue from hot pot seasoning sales to third parties reached RMB 2,476,942 thousand in 2025, up from RMB 2,332,137 thousand in 2024, marking an increase of about 6.2%[19] - The share of revenue from related parties accounted for approximately 27.7% of total revenue in 2025, down from 30.2% in 2024[19] - For the year ending December 31, 2025, the group achieved revenue of RMB 4,781.5 million in third-party business, representing a year-on-year growth of 4.7%[42] - In the hot pot seasoning category, the revenue from hot pot dipping sauce reached RMB 512.7 million, growing by 16.4%, while the beef tallow hot pot base recorded RMB 621.2 million, a growth of 6.0%[43] - The overseas sales revenue from third-party channels amounted to RMB 426.0 million, reflecting a significant year-on-year increase of 45.4%[44] - The sales revenue from B-end business was RMB 300.2 million, which represents a substantial year-on-year increase of 73.3%[45] - The sales revenue from related parties was RMB 1,831.1 million, which decreased by 7.2% year-on-year due to market price adjustments[49] - Revenue from hot pot seasoning products decreased by 1.2% to RMB 4,037.6 million, accounting for 61.1% of total revenue for the year ended December 31, 2025[56] - Revenue from compound seasonings increased by 16.4% to RMB 915.8 million, representing 13.8% of total revenue for the year ended December 31, 2025[58] - Revenue from instant food products decreased by 2.5% to RMB 1,564.1 million, accounting for 23.7% of total revenue for the year ended December 31, 2025[59] Operational Insights - The company operates primarily in the production and sale of hot pot seasonings, compound seasonings, and instant food products in China and several overseas markets[8] - The company is currently assessing the impact of new accounting standards on its consolidated financial statements, particularly regarding the presentation and disclosure of financial performance metrics[16] - The company anticipates that the new IFRS 18 will generally affect the presentation and disclosure of financial statements, especially related to performance metrics defined by management[16] - The company has identified potential impacts on the cash flow statement, with interest received to be presented as investing cash flow rather than operating cash flow starting from the adoption of IFRS 18[17] - The company is focusing on optimizing product development based on market demand, enhancing product iteration and category expansion[50] - The company is implementing a refined channel operation strategy, enhancing operational efficiency and channel value through targeted product offerings[48] - The company launched over 60 new products, including regional flavor seasonings and various instant food items, by December 31, 2025[52] - The company expanded its overseas B2B business by establishing partnerships with local restaurant chains in Thailand, Malaysia, the USA, and South Korea[51] - The company improved its AI data analysis capabilities to enhance product development and market adaptability[51] Employee and Administrative Costs - Total employee costs for the year ended December 31, 2025, were RMB 752.5 million, covering salaries, wages, allowances, and benefits[87] - The total number of employees as of December 31, 2025, was 2,571, excluding temporary workers[86] - Employee benefits expenses rose to RMB 752,520 thousand in 2025, up 11.74% from RMB 673,481 thousand in 2024[25] - Administrative expenses rose by 6.7% to RMB 295.3 million, accounting for 4.5% of total revenue, primarily due to increased management bonuses and digital infrastructure costs[67] Future Plans and Shareholder Information - The company plans to focus on product R&D, channel development, and overseas expansion in 2026[90] - The company aims to enhance its channel operations by implementing diverse cooperation models and utilizing AI technology for data analysis[91] - The company will seek strategic investment opportunities to enhance product development, channel expansion, and cost control[94] - The company has approved the 2026 Share Incentive Plan, which allows for the grant of up to 103,670,000 shares, representing 10% of the issued shares excluding treasury shares[102] - The board has proposed a final dividend of HKD 0.5968 per share, equivalent to RMB 0.5252, subject to shareholder approval at the annual general meeting on May 26, 2026[104] - The final dividend is expected to be paid to shareholders listed on the register by June 4, 2026, if approved at the annual general meeting[104] - The company expresses gratitude to shareholders, management, employees, business partners, and customers for their support and contributions[108]

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。 HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6862） 截至2025年12月31日止年度的全年業績公告 海底撈國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公 司及其附屬公司（統稱「本集團」）截至2025年12月31日止年度（「報告期」）的經審 核綜合業績，連同2024年的經審核比較數字。業績已經本公司審計委員會（「審計 委員會」）審閱。 本公告內的「我們」指本公司，倘文義另有所指，指本集團。本公告所載若干金額 及百分比數字已作約整調整，或已約整至小數點後一位或兩位數。任何表格、圖 表或其他地方所示總額與當中所列數額總和之間的任何差異乃因約整所致。 1 主要財務摘要 | | 截至12月31日止年度 | | | --- | --- | --- | | | 2025年 | 2024年 ...

Financial Performance - Revenue for the year ended December 31, 2025, was approximately HKD 2,424.6 million, a decrease of about 6.9% compared to HKD 2,603.1 million in 2024[4] - Gross profit for the year was approximately HKD 230.6 million, an increase of about 22.4% from HKD 188.4 million in 2024[4] - Profit attributable to equity shareholders for the year was approximately HKD 97.3 million, an increase of about 80.6% from HKD 53.9 million in 2024[4] - The group's revenue for the year was approximately HKD 2,424.6 million, a decrease of about 6.9% compared to HKD 2,603.1 million in the previous year[18] - Gross profit increased by approximately 22.4% to about HKD 230.6 million, with a gross profit margin rising by 2.3 percentage points to approximately 9.5%[21][24] - Net profit attributable to equity shareholders was approximately HKD 97.3 million, an increase of about 80.6% year-on-year, with a net profit margin of approximately 4.0%[17] - The total comprehensive income for the year ended December 31, 2025, was approximately HKD 95.7 million, compared to HKD 58.1 million in 2024[40] - Total comprehensive income attributable to equity shareholders for 2025 is HKD 95,857,000, compared to HKD 55,488,000 in 2024, marking an increase of about 72.8%[41] - Basic and diluted earnings per share for 2025 is HKD 23.44, up from HKD 12.98 in 2024, reflecting an increase of approximately 80.5%[41] Dividends - The company proposed a final dividend of HKD 0.07 per share, totaling HKD 29,050,000, compared to HKD 15,770,000 in 2024[4] - The proposed final dividend for the year is HKD 0.07 per share, totaling HKD 29,050,000, compared to HKD 0.038 per share and HKD 15,770,000 in the previous year[67][74] Revenue Segmentation - The cleaning services segment generated revenue of approximately HKD 1,896.5 million, accounting for about 78.2% of total revenue[7] - Waste management and recycling business revenue was approximately HKD 277.8 million, representing about 11.5% of total revenue, with a gross margin increase from 11.6% to 15.0%[9] - The cleaning segment generated revenue of HKD 1,896.509 million in 2025, down from HKD 2,086.742 million in 2024, representing a decline of approximately 9.1%[59] - The waste management and recycling segment's revenue was HKD 277.8 million, representing 11.5% of total revenue, a decrease of 2.8%[19] - The gardening segment saw a revenue increase of approximately 22.0% to HKD 195.5 million, accounting for 8.0% of total revenue[19] - The pest management segment's revenue decreased by approximately 22.0% to HKD 54.8 million, representing 2.3% of total revenue[19] Contracts and Business Development - The company secured a three-year contract valued at approximately HKD 150 million for marine waste cleaning services in Hong Kong's eastern waters, marking a strategic expansion into marine services[8] - The company won contracts worth approximately HKD 43 million from the Environmental Protection Department for recycling services, enhancing its leadership in the market[11] - The group maintained a high bid success rate of approximately 35.9% for 2025, compared to 35.6% in 2024[16] Government Initiatives and Market Trends - The Hong Kong government is actively promoting waste reduction and recycling, which aligns with the company's strategic focus on sustainable development and circular economy initiatives[5] - The government plans to submit a producer responsibility scheme for plastic beverage containers and paper drink boxes in 2026, which is expected to significantly increase recycling rates and benefit the group's recycling services[14] Assets and Liabilities - The group's total assets and total liabilities as of December 31, 2025, were approximately HKD 740.6 million and HKD 457.2 million, respectively, with a current ratio of approximately 1.6 times[31] - The company's total equity increased to HKD 492,594,000 in 2025 from HKD 413,682,000 in 2024, an increase of about 19.1%[43] - Total assets as of December 31, 2025, amounted to HKD 999,432,000, with total liabilities at HKD 506,838,000[55] Cash Flow and Expenditures - The group's cash and bank balances as of December 31, 2025, were approximately HKD 244.3 million, an increase of approximately 90.8% from HKD 128.1 million in 2024[31] - Capital expenditures for the year were approximately HKD 46.4 million, up from HKD 30.3 million in 2024, funded by bank loans and cash generated from operations[33] Operational Efficiency - The company is developing a new generation of solar-powered waste compaction bins, expected to launch in 2026, which will utilize renewable energy and big data for operational efficiency[12] - Other income, gains, and losses for the year ended December 31, 2025, and 2024 were approximately HKD 23.7 million and HKD 9.6 million, respectively, representing an increase of approximately 147.2% due to gains from the sale of properties, plants, and equipment of about HKD 15.0 million[25] Staffing and Training - The company employed 7,977 staff as of December 31, 2025, down from 10,329 in 2024, with ongoing training programs to enhance service quality and management skills[39] Compliance and Governance - The company has maintained compliance with corporate governance codes throughout the year[77] - The company has not engaged in the purchase, redemption, or sale of its listed securities during the year[80] - The audit firm KPMG confirmed that the financial figures in the announcement align with the group's consolidated financial statements[81]

Financial Performance - Total revenue for the year ended December 31, 2025, reached RMB 26,325,942, representing a 6.3% increase from RMB 24,755,737 in 2024[3] - Net profit for the year was RMB 1,171,591, a 2.4% increase compared to RMB 1,143,835 in 2024[4] - Earnings attributable to equity holders amounted to RMB 1,135,214, up 3.7% from RMB 1,094,871 in the previous year[4] - Basic earnings per share increased to RMB 0.561, reflecting a 3.5% growth from RMB 0.542 in 2024[4] - Gross profit for the year was RMB 3,674,243, compared to RMB 3,554,234 in 2024, indicating a positive trend in profitability[4] - The company reported a total comprehensive income of RMB 1,290,377 for the year, compared to RMB 1,017,889 in 2024, reflecting improved overall performance[6] - The annual profit attributable to equity holders was RMB 1,135,214 thousand for the year ending December 31, 2024, compared to RMB 1,094,871 thousand in the previous year, indicating a year-over-year increase of about 3.7%[12] - The total comprehensive income for the year was RMB 1,254,000 thousand, up from RMB 968,384 thousand in the previous year, representing a significant increase of approximately 29.5%[12] Dividends and Shareholder Returns - The proposed final dividend per share is HKD 0.31, which is approximately RMB 0.27, a 3.3% increase from HKD 0.30 in 2024[3] - The company plans to pay a final dividend of RMB 565,768 thousand for the year ending December 31, 2024, consistent with its commitment to return value to shareholders[12] - The board recommends maintaining a dividend payout ratio of approximately 50% for the fiscal year ending December 31, 2025, with a proposed final dividend of HKD 0.31 per share[120] - The company will distribute the 2025 final dividend after deducting a 10% corporate income tax for non-individual shareholders[124] Assets and Liabilities - Total assets as of December 31, 2025, were RMB 32,181,887, an increase from RMB 29,381,665 in 2024[7] - Total liabilities increased to RMB 18,395,277 from RMB 16,276,627 in the previous year, indicating a rise in financial obligations[8] - The company's net assets reached RMB 13,786,610, up from RMB 13,105,038 in 2024, showing a strengthening balance sheet[8] Revenue Breakdown - Revenue from product sales was RMB 16,278,560,000, up from RMB 15,610,859,000 in 2024, representing a growth of 4.26%[20] - Engineering project contract revenue increased to RMB 10,047,382,000 from RMB 9,144,878,000, marking a growth of 9.87%[20] - Revenue from external customers in China was RMB 15,098,636,000 in 2025, a rise of 13.83% from RMB 13,262,274,000 in 2024[45] Segment Performance - The Group operates in three reportable segments: Clean Energy, Chemical Environment, and Liquid Food, focusing on various manufacturing and sales activities[38] - The clean energy segment's revenue rose by 19.7% to RMB 20,564,600,000, accounting for 78.1% of total revenue[57] - The chemical environment segment's revenue decreased by 31.3% to RMB 2,141,038,000, representing 8.1% of total revenue[57] - The liquid food segment's revenue fell by 18.7% to RMB 3,620,304,000, making up 13.8% of total revenue[58] Costs and Expenses - Employee costs increased to RMB 2,424,589,000 in 2025 from RMB 2,308,999,000 in 2024, representing a rise of 5.01%[27] - The cost of inventory for 2025 was RMB 14,134,959,000, compared to RMB 12,975,010,000 in 2024, indicating an increase of 8.95%[28] - The income tax expense for 2025 was RMB 336,269,000, compared to RMB 319,846,000 in 2024, reflecting an increase of 5.11%[31] Strategic Initiatives and Future Outlook - The company anticipates continued growth in the upcoming fiscal year, with a focus on enhancing operational efficiency and expanding market presence[12] - The group aims to transform into a technology-driven low-carbon smart integrated energy service provider, enhancing its upstream resource capabilities in clean energy[81] - The group plans to enhance R&D in key equipment and core processes, maintaining a leading position in LNG, high-pressure hydrogen, liquid hydrogen, liquid ammonia, and methanol storage and transportation[110] Corporate Governance and Compliance - The audit committee has reviewed the group's financial statements for the year ended December 31, 2025, ensuring compliance with accounting principles and internal controls[129] - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange listing rules for the year ending December 31, 2025[128] Market Trends and Industry Insights - The global energy transition is entering a key decade, with significant opportunities arising from the inclusion of hydrogen energy in the energy management system by 2025[105] - The global natural gas market is expected to see accelerated growth starting in 2026, with demand growth projected to reach around 2%, driven primarily by the industrial and energy sectors[106]

Financial Performance - Total revenue for the year ended December 31, 2025, was $4,584,217 thousand, an increase of 7.2% compared to $4,276,086 thousand in 2024[4] - Gross profit for the same period was $523,005 thousand, up 16.6% from $448,517 thousand in 2024[4] - Operating profit increased to $162,502 thousand, representing a 41.5% rise from $114,765 thousand in 2024[4] - Net profit for the year was $112,519 thousand, a significant increase of 49.8% compared to $75,111 thousand in 2024[4] - Earnings per share for the year was $0.041, up from $0.025 in 2024, reflecting a 64% increase[4] - The company reported a total comprehensive income of $167,097 thousand for the year, compared to $34,843 thousand in 2024, indicating a substantial increase[5] - The company reported a profit of $102,004 thousand for the year ending December 31, 2025, compared to $61,719 thousand in 2024, representing a significant increase of 64.8%[8] - For the fiscal year ending December 31, 2025, the company reported a net profit attributable to equity holders of $102.004 million, compared to $61.719 million in 2024[46] Assets and Liabilities - Total assets as of December 31, 2025, reached $3,770,498 thousand, compared to $3,479,142 thousand in 2024, marking an 8.4% growth[6] - Total liabilities increased to $1,611,370 thousand in 2025, compared to $1,449,241 thousand in 2024, marking an increase of 11.2%[7] - Non-current liabilities decreased to $364,109 thousand in 2025 from $296,861 thousand in 2024, a reduction of 22.7%[7] - Current liabilities rose to $1,247,261 thousand in 2025, up from $1,152,380 thousand in 2024, indicating an increase of 8.2%[7] - Total equity increased to $2,159,128 thousand in 2025 from $2,029,901 thousand in 2024, representing a growth of 6.4%[7] - Retained earnings rose to $2,083,392 thousand in 2025, up from $2,005,485 thousand in 2024, reflecting an increase of 3.9%[8] Cash Flow and Investments - Cash and cash equivalents increased to $500,721 thousand from $422,278 thousand in 2024, a rise of 18.5%[6] - The net cash generated from operating activities for the year ended December 31, 2025, was $404.9 million, a decrease of $41.3 million from $446.2 million in 2024[56] - Cash used in investing activities for the year ended December 31, 2025, was $(280.995) million, slightly increasing from $(279.793) million for the year ended December 31, 2024[82] - Cash used in financing activities for the year ended December 31, 2025, was $61.5 million, an increase of $18.3 million compared to $43.2 million for the year ended December 31, 2024[83] Revenue Segmentation - The North America segment reported revenue of $2,290,418,000 for the year ending December 31, 2025, compared to $2,193,003,000 for the year ending December 31, 2024, showing an increase of approximately 4.4%[34] - Revenue from external customers in the Asia-Pacific region for the year ending December 31, 2025, is projected to be $798,900,000, up from $717,161,000 in 2024, reflecting a growth of about 11.4%[28] - The company’s revenue from electric power steering (EPS) for the year ending December 31, 2025, is projected to be $3,128,936,000, an increase from $2,887,391,000 in 2024, indicating a growth of approximately 8.3%[34] Dividends and Shareholder Returns - The company paid dividends of $21,835 thousand to shareholders in 2025, compared to $7,529 thousand in 2024, reflecting a substantial increase of 189.5%[8] - The board recommends a final dividend of approximately $45.9 million (or $0.0183 per share), representing about 45% of the net profit attributable to equity holders[110] Operational Highlights - The group successfully launched 57 new customer projects, with 36 of these being EV projects, contributing to revenue growth[58] - The company aims to maintain its market leadership in advanced steering and propulsion systems, focusing on electrification, software, and ADAS technologies[89] - The company emphasizes continuous innovation, product portfolio depth and breadth, and global manufacturing capabilities as key competitive advantages[91] Governance and Compliance - The company has established a risk management and internal control system, which is regularly reviewed for effectiveness[104] - The audit and compliance committee consists entirely of non-executive directors, ensuring independent oversight of financial reporting and risk management[105] - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, confirming compliance until the fiscal year ending December 31, 2025[102] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[3] - The group expects that the application of IFRS 18 will impact the presentation and disclosure of future financial statements[18] - Any forward-looking statements are based on current plans and estimates, and actual results may differ significantly due to risks and uncertainties[114]

Financial Performance - Total revenue for 2025 reached RMB 5,014.6 million, a year-on-year increase of 32.9%, marking the fastest growth in three years[10]. - The net loss for 2025 narrowed by 58.6% to RMB 1,782.0 million, with adjusted net loss decreasing by 54.3% to RMB 1,956.1 million, establishing a trend of continuous reduction in losses over four consecutive half-year periods[10]. - EBITDA for the second half of 2025 was RMB 376.4 million, marking the first positive EBITDA since the company went public[10]. - Revenue increased by 32.9% from RMB 3,772.1 million in 2024 to RMB 5,014.6 million in 2025, driven primarily by the growth of generative AI[29]. - Generative AI revenue rose by 51.0% from RMB 2,404.0 million in 2024 to RMB 3,629.5 million in 2025, accounting for 72.4% of total revenue[29]. - Gross profit increased by 27.0% from RMB 1,619.7 million in 2024 to RMB 2,056.4 million in 2025, with a slight decline in gross margin from 42.9% to 41.0%[32]. - Operating loss improved from RMB 4,529.3 million in 2024 to RMB 1,451.9 million in 2025[28]. - The annual loss narrowed to RMB 1,782.0 million in 2025 from RMB 4,306.6 million in 2024, driven by significant revenue and gross profit growth alongside improved operational efficiency[42]. Cash Flow and Liquidity - Cash and cash equivalents increased to RMB 10,887.1 million as of December 31, 2025, compared to RMB 8,888.0 million as of December 31, 2024[49]. - Net cash used in operating activities improved to RMB (301.1) million in 2025 from RMB (3,926.7) million in 2024[51]. - The net cash used in investing activities for the year ended December 31, 2025, was RMB 3,506.8 million, mainly attributed to the purchase of property, plant, and equipment, and investments in financial assets[53]. - The net cash generated from financing activities for the year ended December 31, 2025, was RMB 5,620.7 million, primarily due to net proceeds from the issuance of ordinary shares and contributions from limited partners of investment funds controlled by the group[54]. - The total cash and cash equivalents at the end of 2025 increased to RMB 10,887,050 thousand from RMB 8,887,988 thousand at the end of 2024, indicating a positive cash flow trend[78]. Research and Development - Research and development expenses decreased by 8.6% from RMB 4,131.9 million in 2024 to RMB 3,775.4 million in 2025[33]. - The company incurred research and development expenses that were eligible for a 200% tax deduction, as per the regulations effective from January 1, 2022[114]. - The company reported a decrease in research and development expenses to RMB 3,775,359 from RMB 4,131,884, suggesting a focus on cost management[71]. Market Position and Product Development - The SenseNova V6 model became the first native multimodal general model in China, achieving top rankings in both SuperCLUE and OpenCompass evaluations[11]. - The SenseNova-SI spatial intelligence model series demonstrated exceptional performance, ranking first globally in comprehensive evaluations among similar models[11]. - The new NEO architecture was launched in Q4 2025, significantly enhancing learning efficiency and redefining performance boundaries in multimodal models[7]. - The company plans to release a new foundational model based on the second-generation NEO architecture in Q2 2026, expected to achieve significant improvements in performance and cost-effectiveness[7]. - The Kairos-SenseNova model was released as the first open-source embodiment native world model, leading in various benchmarks and achieving a 72-fold increase in inference speed compared to previous models[11]. - SenseTime launched the NEO native multimodal model architecture, achieving a 10x reduction in training data and computing power compared to industry standards[12]. Customer and User Growth - The SenseTime Xiaohuanxiong family has served over 15 million personal users and thousands of enterprise clients, achieving a 7x monthly active user growth in 2025[14]. - The Kapi series products reached a user scale of over 10 million, with a T+1 retention rate of 70%, marking a significant breakthrough in AI native applications[15]. - Major customers accounted for over 10% of total revenue, with Customer A contributing 19.0% and Customer B contributing 12.2%[95]. Operational Efficiency - Cash conversion cycle (CCC) improved significantly from 228 days at the end of 2024 to 129 days at the end of 2025[10]. - The company has maintained its position as the leading player in China's computer vision market for nine consecutive years and was recognized as a flagship brand in the "2025 Forbes China Globalization 30 & 30" list[21]. - SenseTime's visual AI business is transitioning from a technology investment phase to a scalable revenue generation phase, becoming a solid pillar for the group's income growth and cash flow improvement[19]. Sustainability and Innovation - The company is committed to sustainable development and responsible innovation, addressing challenges related to large models in safety, environmental protection, and socio-economic aspects[24]. - The company aims to optimize unit intelligence costs and promote domestic production, leveraging its integrated advantages in computing power, models, and applications[23]. Financial Position and Assets - Total assets increased to RMB 38,905,575 in 2025, up from RMB 34,599,511 in 2024, reflecting a growth of approximately 12%[73]. - The total equity attributable to the company's equity holders increased to RMB 26,718,959 in 2025 from RMB 23,460,774 in 2024, a growth of about 14%[74]. - The company reported a significant increase in non-current assets, totaling RMB 8,799,361,000 as of December 31, 2025, up from RMB 7,755,412,000 in 2024, marking a 13.5% growth[94]. Governance and Compliance - The consolidated financial statements for the year ending December 31, 2025, have been agreed upon by the auditor, PricewaterhouseCoopers[165]. - The board has adopted a standard code to regulate the conduct of directors in securities trading, confirming compliance during the reporting period[164]. - The company has re-complied with listing rules following the appointment of an independent non-executive director[160].