Financial Performance - For the fiscal year ending December 31, 2025, the group recorded a revenue of approximately HKD 272.1 million, a decrease of 23.6% compared to HKD 356.4 million in 2024[4] - The net loss attributable to the company's owners for the fiscal year was approximately HKD 30.8 million, compared to a profit of HKD 63.8 million in 2024[4] - The operating loss for the year was approximately HKD 27.8 million, significantly higher than the operating loss of HKD 0.4 million in 2024[5] - The company reported a gross profit of HKD 22.1 million, down from HKD 29.2 million in 2024, reflecting challenges in cost management[5] - The basic and diluted loss per share for the year was HKD 3.99, compared to earnings of HKD 14.21 per share in 2024[6] - The company reported a loss before tax from continuing operations of HKD 28,388,000 in 2025, compared to a loss of HKD 1,291,000 in 2024[30] - For the fiscal year 2025, the loss from continuing operations was HKD 30,765,000, compared to a profit of HKD 63,781,000 in 2024[38] - The gross profit for the year ending December 31, 2025, was approximately HKD 22.1 million, a decrease of about 24.3% from HKD 29.2 million in the previous year[64] - The gross profit margin slightly decreased from 8.2% in 2024 to 8.1% in 2025 due to market slowdowns and rising costs in the wood-related business[64] Revenue Breakdown - The revenue from the timber-related business segment for 2025 is HKD 250,486,000, a decrease of 29.5% from HKD 355,317,000 in 2024[23] - The revenue from the food and beverage segment for 2025 is HKD 21,594,000, significantly up from HKD 1,057,000 in 2024[23] - The total revenue for the company in 2025 is HKD 272,080,000, down 23.6% from HKD 356,374,000 in 2024[27] - Revenue from the wood-related business decreased from approximately HKD 355.3 million in 2024 to about HKD 250.5 million in 2025[62] - The furniture wood processing and distribution segment generated revenue of approximately HKD 228.1 million in the current year, down from HKD 322 million in 2024[54] - Revenue from the manufacturing and sales of antique wooden furniture and other wood products was approximately HKD 22.4 million, compared to HKD 33.3 million in 2024[55] - The functional food and beverage business recorded revenue of approximately HKD 21.6 million, significantly up from HKD 1.1 million in 2024[57] Assets and Liabilities - The total assets less current liabilities increased to HKD 72.8 million from HKD 43.3 million in 2024, reflecting improved financial stability[8] - The total assets of the company increased to HKD 90,292,000 in 2025 from HKD 66,700,000 in 2024[23] - The total liabilities decreased to HKD 18,360,000 in 2025 from HKD 27,465,000 in 2024[23] - Current assets increased to HKD 70,785,000 in 2025 from HKD 58,145,000 in 2024, while current liabilities decreased to HKD 17,502,000 from HKD 23,443,000, resulting in a current ratio of 4.04 in 2025 compared to 2.48 in 2024[73] Cash Flow and Liquidity - The group reported an annual loss of approximately HKD 30,765,000 and a net cash outflow from operating activities of about HKD 39,938,000 for the year ending December 31, 2025[11] - As of December 31, 2025, the group's cash and bank balances were at a low level of approximately HKD 1,175,000, significantly below current liabilities of about HKD 17,502,000[11] - The cash and bank balances increased to HKD 1.2 million from HKD 0.7 million in 2024, indicating improved liquidity[7] - The expected credit loss provision for receivables and other receivables amounted to approximately HKD 8,749,000 for the year ending December 31, 2025, compared to HKD 3,484,000 in 2024[66] - The company’s accounts payable aged over 365 days amounted to HKD 2,763,000, indicating potential liquidity concerns[45] Investments and Financial Support - The ultimate controlling party has agreed to provide financial support to meet the group's working capital needs when necessary[11] - The group has prepared cash flow forecasts covering at least twelve months from the date of the annual performance announcement, indicating sufficient operating funds to meet financial obligations[11] - The company issued 411,219,340 new shares in a rights issue at a subscription price of HKD 0.111 per share, raising approximately HKD 44,903,000[48] - The company issued 986,898,680 ordinary shares with a par value of HKD 0.10 each as of December 31, 2025, compared to 411,219,340 shares in 2024[75] Management and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the year ending December 31, 2025[93] - The company has adopted the standard code for securities transactions by directors as per the listing rules and confirmed that all directors complied with this code during the review year[92] - The company has acknowledged the resignation of independent non-executive director Mr. Zhao Xianming, which temporarily affected compliance with listing rules regarding board composition[88] - The company has appointed Mr. Pang Mingli as an independent non-executive director effective June 16, 2025, ensuring compliance with listing rules regarding board composition[90] - The company will continue to review the composition of the board and make necessary changes as appropriate[91] Future Outlook - The group plans to further develop its food and beverage business segment to enhance performance and financial condition[11] - The company anticipates the functional food market in China to grow from an estimated USD 36.77 billion in 2023 to approximately USD 67.69 billion by 2030, with a compound annual growth rate of about 9.1%[56] - The company plans to terminate its car rental business by October 2024 to reallocate financial resources towards the functional food and beverage sector[60] - The company has established a wholly-owned subsidiary, Shenzhen Weijianbao Food Technology Co., Ltd., to operate in the functional food and beverage sector in China[57] Compliance and Reporting - The company will publish its annual report containing all required information within the designated period for shareholders[97] - The independent auditor's report highlighted significant uncertainties regarding the company's ability to continue as a going concern due to financial losses and low cash reserves[95] - The group has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2025, with no significant impact on the current and prior years' financial position and performance[13] - The group is evaluating the impact of new and revised accounting standards that will come into effect in 2026 and 2027, with preliminary assessments indicating minimal significant impact[16][18]

Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 1,304.4 million, representing a 14.3% increase from RMB 1,141.1 million in 2024[4] - Gross profit for the same period was RMB 923.7 million, up 11.8% from RMB 826.0 million in 2024[4] - Operating loss decreased significantly by 73.3% to RMB 91.1 million from RMB 341.4 million in 2024[4] - Adjusted net loss for the year was RMB 31.9 million, an 88.2% improvement from RMB 270.0 million in 2024[4] - The net loss attributable to shareholders was RMB 36,706 thousand, a substantial reduction from RMB 287,246 thousand in the previous year, resulting in a basic and diluted loss per share of RMB 0.05[77] - The company reported total revenue of RMB 1,304,413 thousand for the year ended December 31, 2025, representing a 14.3% increase from RMB 1,141,079 thousand in 2024[77] - Revenue from game publishing and operations was RMB 1,176.4 million, up 13.7% from RMB 1,035.0 million in 2024[22] - Revenue from the mainland China market was RMB 1,051.1 million, an 18.8% increase from RMB 884.5 million in 2024[23] - The company reported a total of RMB 124,361,000 and RMB 105,027,000 in revenue from five major external customers for the years ended December 31, 2025, and 2024, respectively[100] Game Development and Launches - The company launched 24 premium mobile games, expanding its product matrix to include various genres such as MMORPG, strategy card games, and SLG[6] - The company has successfully integrated Unreal Engine 5 technology in mobile game development, achieving compatibility with the HarmonyOS platform[8] - The game "In the Name of Shining" has maintained strong performance since its launch in March 2023, consistently ranking in the top 30 of the iOS game sales chart and achieving over RMB 1 billion in revenue within the first month of release in mainland China[15] - The game "Dragon Tribe: The Gate of Kassel" has surpassed 10 million registered users globally as of the earnings announcement date[16] - The game "Dragon Tribe: The Gate of Kassel" achieved the highest revenue record in its history following the launch of UR dual partners in February 2026[16] - The company plans to launch six new game products globally from 2026 to 2028, diversifying its game portfolio[18] Research and Development - Research and development expenses remained stable at RMB 533.4 million, a slight increase of 0.2% from RMB 532.1 million in 2024[4] - The company has focused on long-term operational value in its product strategy, evidenced by the sustained user engagement of its games[7] - The company is deepening its research and development in Unreal Engine 5 technology and promoting the application of intelligent NPCs, enhancing the dynamic vitality of its games[13] - R&D expenses remained stable, increasing slightly by 0.2% from RMB 532.1 million in 2024 to RMB 533.4 million in 2025[27] Financial Position and Cash Flow - As of December 31, 2025, the net cash used in operating activities was RMB 52.8 million, a decrease of 71.9% compared to RMB 188.0 million for the year ended December 31, 2024[38] - The net cash used in investing activities was RMB 59.0 million for the year ended December 31, 2025, compared to cash generated of RMB 122.5 million in 2024, primarily due to the purchase of financial assets measured at fair value[39] - The cash and cash equivalents decreased by RMB 143.5 million in 2025, compared to a decrease of RMB 125.7 million in 2024, representing a 14.2% increase in cash outflow[38] - The debt-to-asset ratio as of December 31, 2025, was 24.6%, up from 19.0% as of December 31, 2024[41] - Total assets increased to RMB 2,667,061 thousand as of December 31, 2025, compared to RMB 2,598,360 thousand in 2024[82] Employee and Compensation - Employee compensation and benefits cost approximately RMB 563.9 million for the year ending December 31, 2025, compared to RMB 551.2 million for the previous year[60] - The company employs 1,086 full-time employees, with approximately 75.23% being R&D personnel[60] - The total share-based payment expenses for the year ended December 31, 2025, amounted to RMB 4,760,000, a decrease of 72.2% from RMB 17,171,000 in 2024[129] Corporate Governance and Social Responsibility - The company is committed to corporate social responsibility, having donated sports equipment and educational resources to schools in rural areas, continuing its "Honghu Build Dream" initiative for five years[9] - The board believes that the roles of chairman and CEO should be held by the same person for strong leadership, despite corporate governance guidelines suggesting otherwise[68] - The audit committee, composed of three independent non-executive directors, reviewed the financial information for the year ending December 31, 2025, with no objections to the accounting treatment[70] Future Outlook and Strategy - The company plans to enhance its business layout and aims for a new round of exponential growth in performance[6] - The company aims to achieve a new breakout after stabilizing its operations, focusing on high-quality, multi-category, integrated research and operations, and globalization strategies[10] - The company plans to focus on advantageous sectors and improve self-publishing efficiency while maintaining technological leadership and implementing strict project management standards[10] - The company aims to maximize overall returns to investors by optimizing cost structures and improving capital efficiency[73] - The company plans to enhance its market position through strategic initiatives, including potential market expansion and new product development[73]

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。 Shanghai Henlius Biotech, Inc. 上海復宏漢霖生物技術股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2696） 截至2025年12月31日止年度的年度業績公告 上海復宏漢霖生物技術股份有限公司（「本公司」或「復宏漢霖」）董事會（「董事 會」）欣然宣佈根據國際財務報告準則（「國際財務報告準則」）編製的本公司及其附 屬公司（統稱「本集團」或「我們」）截至2025年12月31日止年度（「報告期」）之經審 計綜合財務業績。 2025年2月，漢斯狀® （歐洲商品名：Hetronifly®）聯合卡鉑和依託泊苷適用 廣泛期小細胞肺癌(ES-SCLC)成人患者的一線治療於歐盟獲批上市。 報告期內，漢斯狀®分別於英國、新加坡、馬來西亞及印度等多個國家獲批 上市，用於治療廣泛期小細胞肺癌(ES-SCLC)。 財務摘要： 1 1. 截至2025年12月31日止年度，本集團的總 ...

Financial Performance - Revenue for the twelve months ended December 31, 2025, was HK$43,849,000, a decrease of 14.9% compared to HK$51,510,000 in 2024[10] - Loss for the period narrowed to HK$39,114,000 from HK$41,725,000, indicating a 6.3% improvement year-over-year[11] - Basic and diluted loss per share improved to HK$(0.10) from HK$(0.13) in the previous year[10] - Total comprehensive expense for the period was HK$39,775,000, compared to HK$38,210,000 in 2024[11] - The company reported a loss of HK$38,564,000 for the period ending December 31, 2025[16] - The Group incurred a net loss of approximately HK$39,114,000 for the twelve months ended 31 December 2025, compared to a loss of HK$41,725,000 in 2024[26] - The Group's loss attributable to owners for the twelve months ended December 31, 2025, was approximately HK$38,564,000, a decrease from HK$43,195,000 in 2024, representing a reduction of about 10.4%[77] Revenue Breakdown - Revenue from online games increased to HK$15,336,000 in 2025 from HK$15,080,000 in 2024, while revenue from esports decreased to HK$25,087,000 from HK$29,737,000[42] - Revenue from external customers for the twelve months ended December 31, 2025, was HK$43,849,000, a slight increase from HK$51,510,000 in 2024[51][59] - Revenue from the online game business increased by approximately 1.7% to HK$15,336,000 for the Period, compared to HK$15,080,000 in 2024[147] - Revenue from "Jiuyin Zhenjing" contributed approximately 70% of the segment revenue during the Period[148] - The Group's revenue from new initiatives, including game card distribution through social media, contributed approximately HK$3,737,000 in 2025[147] - The Group's revenue from cloud computing and data storage business decreased by approximately 43.1% to HK$1,605,000, primarily due to reduced unit output of Filecoin and a decline in its market price[155][159] - The esports business revenue decreased by approximately 15.6% to HK$25,087,000, resulting in a segment profit of approximately HK$1,506,000[162][167] Cost Management - Administrative expenses reduced significantly to HK$39,133,000 from HK$47,665,000, a decrease of 17.9%[10] - The company is focusing on cost reduction strategies to improve profitability in the upcoming fiscal periods[10] - The Group plans to implement measures to tighten cost control to enhance revenue and improve operating cash flows[32] - Distribution and selling costs decreased from approximately HK$1,390,000 in 2024 to approximately HK$632,000 for the Period, reflecting reduced marketing expenses[174] Assets and Liabilities - Non-current assets increased to HK$39,343,000 in 2025 from HK$43,418,000 in 2024, a decrease of 9.5%[13] - Current assets rose significantly to HK$84,193,000 in 2025, up from HK$43,741,000 in 2024, representing an increase of 92.5%[13] - Total liabilities decreased to HK$129,969,000 in 2025 from HK$179,250,000 in 2024, a reduction of 27.4%[14] - The net current liabilities improved to HK$164,288,000 in 2025 from HK$216,800,000 in 2024, a decrease of 24.3%[13] - The Group's total trade payables decreased from HK$3,786,000 in 2024 to HK$899,000 in 2025, a decline of 76.3%[94] Cash Flow - The net cash used in operating activities was HK$45,351,000 for the year ended 31 December 2025, compared to HK$19,730,000 in 2024[17] - The net cash from financing activities increased significantly to HK$67,476,000 in 2025, up from HK$13,657,000 in 2024[17] - The Group recorded a net cash outflow from investing activities of HK$26,172,000 in 2025, compared to a net inflow of HK$1,214,000 in 2024[17] - Cash and bank balances were approximately HK$4,957,000 as of 31 December 2025, down from HK$8,491,000 at the beginning of the period[27] Investments and Acquisitions - The company completed the acquisition of 51% of Smart System Limited for RMB1,000,000 on December 10, 2024, which owns the "Coin Guide" Apps providing trading alerts and data analysis[105] - On July 31, 2025, the company acquired the remaining 49% of Smart System for HK$1, making it a wholly owned subsidiary, with a difference of approximately HK$630,000 recognized directly in equity reserves[109] - The company disposed of its 100% equity interest in Seven Elements Interactive Limited for HK$70,000 on April 30, 2025, resulting in a loss on disposal of HK$31,000[111] Financial Ratios - The Group's gearing ratio decreased to approximately 175.2% as of December 31, 2025, from approximately 246.3% in 2024[195] - The company had no bank borrowings as of December 31, 2025, and December 31, 2024[198] - As of December 31, 2025, the company's debt-to-asset ratio decreased from approximately 246.3% to about 175.2%[199] Other Income and Expenses - Other income decreased to HK$1,452,000 from HK$1,870,000, showing a decline of 22.3%[10] - Interest income from money lending decreased to HK$400,000 in 2025 from HK$700,000 in 2024[42] - The Group's deferred tax expense was HK$61,000 for the twelve months ended December 31, 2025, up from HK$26,000 in 2024[66] - Impairment loss on non-financial assets increased from approximately HK$2,060,000 in 2024 to about HK$4,498,000 for the period, attributed to the decline in market prices of cryptocurrencies[176]

Financial Performance - The total revenue for the year ended December 31, 2025, was HKD 398,731,000, a decrease of 7.1% compared to HKD 429,370,000 in 2024[3] - Gross profit for the same period was HKD 81,040,000, down 12.8% from HKD 92,945,000 in 2024[3] - The net loss for the year was HKD 15,790,000, significantly improved from a loss of HKD 104,117,000 in 2024, representing a reduction of 84.8%[4] - Basic loss per share improved to HKD 0.62 from HKD 4.42 in the previous year[4] - The company reported a total comprehensive income of HKD 19,597,000 for the year, compared to a comprehensive loss of HKD 103,543,000 in 2024[5] - The company reported a pre-tax loss of HKD 32,087,000 for 2025, compared to a pre-tax loss of HKD 120,057,000 in 2024, indicating an improvement in financial performance[22] - The overall loss for the year was HKD 13,300,000, significantly reduced from a loss of HKD 94,800,000 in the previous year[46] - The company reported a loss of HKD 13,302,000 for the year 2025, compared to a loss of HKD 94,780,000 in 2024, indicating a significant improvement in performance[32] Revenue Breakdown - The total revenue for the year ending December 31, 2025, is projected to be HKD 398.731 million, with HKD 343.089 million from smart terminal design manufacturing and HKD 17.147 million from automotive smart products[14] - For the year ending December 31, 2024, total revenue is expected to reach HKD 429.370 million, comprising HKD 338.039 million from smart terminal design manufacturing and HKD 46.297 million from automotive smart products[14] - The smart terminal design and manufacturing business achieved a revenue of HKD 343,100,000, a growth of 1.5% from HKD 338,000,000 last year[40] - The property leasing management segment recorded a revenue of HKD 38,500,000, a decrease of 14.4% from HKD 45,000,000 last year[42] - The automotive smart products business saw a revenue decline of 63.1% to HKD 17.1 million from HKD 46.3 million last year, with a gross profit of HKD 4.0 million, down 79.1% from HKD 19.1 million, resulting in a segment loss of HKD 17.3 million[50] Assets and Liabilities - Total assets as of December 31, 2025, were HKD 1,535,035,000, slightly down from HKD 1,538,946,000 in 2024[6] - The company’s liabilities totaled HKD 481,914,000 as of December 31, 2025, compared to HKD 491,264,000 in 2024, showing a reduction of approximately 1.5%[24] - The total assets of the company as of December 31, 2025, amounted to HKD 1,921,972,000, slightly up from HKD 1,921,180,000 in 2024[24] - The group’s total assets as of December 31, 2025, were HKD 1,922 million, with bank borrowings of HKD 11.1 million, resulting in a debt ratio of 0.6%, down from 1.5% the previous year[58] Cash and Equivalents - Cash and cash equivalents increased to HKD 430,473,000 from HKD 360,313,000 in 2024, reflecting a growth of 19.4%[6] - As of December 31, 2025, the group's bank balances and cash amounted to HKD 430.5 million, an increase from HKD 360.3 million the previous year, with 55.6% held in RMB, 5.5% in JPY, and 38.8% in USD[51] Expenses and Costs - Research and development expenses decreased to HKD 50,409,000, down 50.2% from HKD 101,076,000 in 2024[3] - The total employee costs decreased to HKD 92,450,000 in 2025 from HKD 128,547,000 in 2024, reflecting a reduction of approximately 28%[30] - The total employee cost for the year was HKD 85,900,000, a decrease from HKD 137,700,000 in 2024, with approximately 737 employees as of December 31, 2025, up from 570 in 2024[64] - The company’s depreciation expense for property, plant, and equipment was HKD 18,815,000 in 2025, compared to HKD 18,833,000 in 2024, showing a slight decrease[25] Strategic Focus - The company plans to continue focusing on smart terminal design and manufacturing, as well as property leasing management in China[8] - The company has rebranded its "Mobile and IoT Terminal Business" to "Smart Terminal Design and Manufacturing" to better reflect its strategic focus[21] - The group plans to focus on strategic transformation in the smart terminal business and explore opportunities in the robotics sector[43][44] - Management emphasizes a cautious approach to resource allocation while advancing in the robotics field, aiming for a strong competitive position[44] Governance and Compliance - The group has complied with the corporate governance code except for the absence of a CEO since the resignation of the previous CEO on September 30, 2022[67] - The audit committee has reviewed the accounting principles adopted by the group and recommended the board to adopt the audited consolidated financial statements for the year[70] - The company has adopted a share option scheme to encourage contributions from eligible individuals, including executive directors and employees[65] Future Outlook - The company has not adopted new international financial reporting standards that are expected to have a significant impact on its consolidated financial statements in the foreseeable future[10] - The company expects that the application of new standards will not significantly affect its financial performance and position, although it may impact the structure and presentation of the consolidated income statement[11] - The company acknowledges that forward-looking statements made may differ significantly from actual results due to various risks and uncertainties[76] Other Information - The company did not recommend a final dividend for the years ending 2025 and 2024, but proposed a special dividend of HKD 0.04 per share totaling HKD 85,734,000 for 2024[31] - The group did not engage in any significant acquisitions or disposals of subsidiaries or associates during the year[59] - There are no major investment plans for the upcoming year, and no significant investments were made during the year[60][61] - A potential contingent liability of approximately HKD 15.3 million has been identified due to a contract dispute involving a wholly-owned subsidiary, with arbitration still in the early stages[62] - The company has not experienced any significant events since the end of the fiscal year[66]

Financial Performance - Deepexi Technology Co., Ltd. reported a revenue of RMB 414,991,000 for the year ended December 31, 2025, representing a 70.8% increase compared to RMB 242,926,000 in 2024[2] - The gross profit for the same period was RMB 228,555,000, an increase of 81.1% from RMB 126,177,000 in the previous year[3] - The total comprehensive loss for the year was RMB (934,559,000), a 25.5% improvement from RMB (1,254,990,000) in 2024[3] - Adjusted net loss (non-HKFRS measure) decreased by 71.4% to RMB (27,535,000) from RMB (96,389,000) year-over-year[2] - The company reported a pre-tax loss of RMB 934,509,000 for 2025, an improvement from a loss of RMB 1,254,990,000 in 2024[25] - The total loss for the year was RMB 934.6 million, a decrease of RMB 320.4 million compared to RMB 1,255.0 million in the same period last year, representing a reduction of 25.5%[59] - Adjusted net loss (non-HKFRS measure) for the year was RMB 27.5 million, a significant decrease of 71.4% from RMB 96.4 million in the previous year[61] Revenue Sources - Revenue from customer contracts increased to RMB 414,991,000 in 2025, up 71% from RMB 242,926,000 in 2024[16] - FastAGI enterprise-level AI solutions generated RMB 254,466,000 in revenue for 2025, a significant increase from RMB 90,396,000 in 2024[17] - FastData enterprise-level data intelligence solutions contributed RMB 160,525,000 in revenue, slightly down from RMB 152,530,000 in 2024[17] - Revenue from the FastAGI enterprise-level AI solution reached RMB 254.5 million, a remarkable increase of 181.5% compared to RMB 90.4 million in the previous year, accounting for 61.3% of total revenue[40][41] - Revenue from the FastData enterprise-level data intelligence solution was RMB 160.5 million, a modest increase of 5.2% from RMB 152.5 million in the previous year, representing 38.7% of total revenue[41][50] Assets and Liabilities - Cash and cash equivalents rose significantly to RMB 686,339,000 from RMB 208,317,000, indicating improved liquidity[4] - Trade receivables increased to RMB 307,614,000 from RMB 166,233,000, suggesting growth in sales and customer base[4] - The company’s total assets reached RMB 834,946,000, a substantial recovery from a negative net asset position of RMB (3,674,309,000) in 2024[4] - The company had a total trade payables and notes payable of RMB 111,695 thousand as of December 31, 2025, up from RMB 83,623 thousand in 2024, indicating increased liabilities[34] - Trade receivables and notes receivable increased to RMB 326,558 thousand in 2025 from RMB 185,057 thousand in 2024, indicating a significant growth in outstanding receivables[30] - The debt-to-capital ratio decreased to 23.4% from 965.3%, a reduction of 941.9 percentage points, primarily due to the issuance of H-shares and increased cash flow from operations[75] Corporate Developments - Deepexi Technology Co., Ltd. transitioned from a limited liability company to a joint-stock company on April 8, 2025, enhancing its corporate structure[5] - The company’s shares were listed on the Hong Kong Stock Exchange on October 28, 2025, marking a significant milestone for its capital market presence[6] - The company was established on May 3, 2018, and restructured into a joint-stock company on April 8, 2025[95] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[96] - The company is committed to high standards of corporate governance and has adhered to the corporate governance code as per the Hong Kong Listing Rules[90] Research and Development - Research and development expenses increased to RMB 107,708,000 from RMB 81,399,000, reflecting a focus on innovation[3] - R&D expenses rose by 32.3% to RMB 107.7 million, driven by investments in training and fine-tuning foundational models and enhancing AI application capabilities[53] - The company is focusing on enterprise-level AI application solutions to address challenges in adopting large model AI technologies, aiming to enhance operational efficiency and decision-making[38] - The company has developed the Deepexi enterprise large model, integrating capabilities across various vertical industries to enhance operational efficiency[83] Customer Base and Market Presence - The number of customers grew to 130 in 2025, a 46.1% increase from 89 in 2024, significantly contributing to revenue growth[44] - The company has no single customer contributing over 10% of total revenue, indicating a diversified customer base[14] - The company aims to expand its sales network and customer base in China, with 30% of the raised funds (RMB 179.89 million) designated for this purpose[86] Financial Management - The company incurred costs of goods sold and services amounting to RMB 186,436,000 in 2025, up from RMB 116,749,000 in 2024[20] - The company has a cumulative tax loss of RMB 1,248,191,000 in mainland China as of December 31, 2025, which can offset future taxable profits[25] - The company is recognized as a "high-tech enterprise" in China, benefiting from a reduced corporate income tax rate of 15%[23] - The actual interest rates for bank loans range from 2.60% to 3.00%, with a total of RMB 60,894 thousand due within one year as of December 31, 2025[35] Future Outlook and Risks - The company aims to enhance its market presence through strategic initiatives and potential expansions[95] - The company faces several risks, including potential reputational damage from AI technology defects and compliance issues with cybersecurity and data protection laws[81] - The company has no plans for significant investments or capital asset investments beyond those disclosed in the announcement[80] Dividend Policy - The company has no plans to declare or pay any dividends for the years ending December 31, 2024, and 2025[27] - The company has not proposed any final dividends for the fiscal year ending December 31, 2025[87] Audit and Reporting - The financial statements for the year ending December 31, 2025, will be audited by Ernst & Young, although no assurance will be provided on the preliminary announcement[92] - The annual report for 2025 will be available on the company's website and the Hong Kong Stock Exchange website[93] - The report period for the financial results is from January 1, 2025, to December 31, 2025[94]

Financial Performance - The company achieved total revenue of RMB 16,461,611,000 for the year ended December 31, 2025, representing an 11.5% increase compared to RMB 14,758,694,000 in 2024[5]. - Gross profit for the year was RMB 3,967,527,000, with a gross margin of 24.1%, compared to RMB 3,745,978,000 and a gross margin of 25.4% in 2024, reflecting a 5.9% year-on-year growth[5]. - Operating profit decreased to RMB 252,212,000, a decline of 23.8% from RMB 331,031,000 in 2024, resulting in an operating margin of 1.5%[5]. - The company reported a net profit of RMB 419,400,000 for the year, down 13.0% from RMB 482,038,000 in 2024, with a net profit margin of 2.5%[5]. - Adjusted EBITDA for the year was RMB 843,381,000, representing an 8.5% increase from RMB 777,262,000 in 2024, with an adjusted EBITDA margin of 5.1%[5]. User Growth and Engagement - The number of transaction users increased to 28.4 million, a 17.7% growth from 24.1 million in 2024, while registered users reached 162.3 million, up 16.9% from 138.8 million[7]. - The user repurchase rate improved by 2.7 percentage points to 65.0% in 2025, indicating strong retention of existing users[12]. - The monthly active users (MAU) of the Tuhu app increased by 15.5% to 13.8 million in 2025, with user satisfaction exceeding 96%[15]. Market and Operational Expansion - The company operated 8,008 Tuhu service stores by the end of 2025, a 16.5% increase from 6,874 stores in 2024, including 175 self-operated stores and 7,833 franchised stores[7]. - The Chinese automotive service market is projected to grow by approximately 4.7% year-on-year in 2025, indicating a stable demand despite market adjustments[8]. - The company expanded its presence in Malaysia with over 10 overseas Tuhu workshop stores in operation or preparation[16]. Cost Management and Efficiency - In 2025, the adjusted operating expenses totaled RMB 3.6 billion, accounting for 21.8% of revenue, a decrease of 0.9 percentage points compared to 2024[11]. - The company has over RMB 8.3 billion in cash reserves as of the end of the reporting period, indicating strong liquidity[11]. - The company focused on new technologies such as AI applications and warehouse automation to enhance efficiency and user experience, achieving large-scale implementation in multiple core scenarios[32]. Product and Service Development - The sales volume of large-size tires (18 inches and above) increased to nearly 30%, up over 5 percentage points year-on-year[20]. - The maintenance business achieved a user growth of 18.2% year-on-year, with over 40% growth in users for low-priced maintenance products under RMB 200[22]. - The battery business experienced a sales growth of over 30%, and brake system-related accessories saw a sales increase of over 23% year-on-year, outperforming the overall maintenance business[22]. Financial Position and Investments - The company's total assets as of December 31, 2025, amounted to RMB 13,501.1 million, an increase from RMB 12,797.2 million as of December 31, 2024[116]. - The total liabilities as of December 31, 2025, were RMB 8,447.5 million, compared to RMB 7,937.9 million in 2024, reflecting an increase of 6.4%[77]. - The company's cash and cash equivalents increased to RMB 1,923.9 million in 2025, up from RMB 1,375.4 million in 2024, marking a growth of 39.8%[76]. Corporate Governance and Compliance - The company maintained strict corporate governance standards and complied with applicable codes throughout the reporting period[151]. - The independent auditor confirmed that the figures in the performance announcement align with the audited financial statements[156]. - The company has no treasury shares as of December 31, 2025[154]. Future Outlook and Strategic Plans - The company plans to continue expanding its store network and investing in technology and supply chain optimization, with funding primarily sourced from operating cash flow and existing cash reserves[100]. - The company is considering potential capital market activities, including a possible dual listing on recognized stock exchanges, to support its strategic plans[100]. - The company is focused on the development of new energy vehicles (NEV) as part of its growth strategy[167].

業績 順豪控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）宣布截至二零二五年 十二月三十一日止年度之本公司擁有人應佔除稅後而未計及重估及土地、物業及設備折舊之淨 溢利為 91,000,000 港元（二零二四年：71,000,000 港元），增加 20,000,000 港元（+28%）。本 公司及其附屬公司（統稱「本集團」）在本年度之經審核綜合業績連同去年度同期之比較數字 如下： | | 二零二五年 | 二零二四年 | 變動 | | --- | --- | --- | --- | | | 千港元 | 千港元 | | | 除稅後及除非控制性權益後之虧損 | (104,381) | (166,437) | | | 加：重估虧損 | 125,939 | 168,428 | | | 加：物業折舊及減值及預付土地租賃費 | | | | | 用回撥 | 69,072 | 68,811 | | | 本公司擁有人應佔除稅後而未計及重 | | | | | 估、折舊及減值及預付土地租賃費用 | | | | | 回撥之淨溢利 | 90,630 | 70,802 | +28% | 香港交易及結算所有限公司及香港聯合交易所有 ...

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 聲明，並明確表示概不會就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之任何損失承擔任何責 任。 XPeng Inc. 小鵬汽車有限公司* （於開曼群島註冊成立以不同投票權控制的有限公司） （股份代號：9868） 截 至 2025 年 1 2 月 3 1 日止年度之全年業績公告 ‧ 2025年汽車總交付量為429,445輛，較2024年的190,068輛增加約125.9%。 ‧ 截至2025年12月31日，小鵬汽車的實體銷售網絡共有721間門店，覆蓋255個城市。 ‧ 截至2025年12月31日，小鵬汽車自營充電站網絡達至3,159座充電站，包括2,108座 小鵬超快充站。 ‧ 截至2025年12月31日止年度總收入為人民幣767.2億元，較截至2024年12月31日止年 度的人民幣408.7億元上升87.7%。 ‧ 截至2025年12月31日止年度汽車銷售收入為人民幣683.8億元，較截至2024年12月31 日止年度的人民幣358.3億元上升90.8%。 ‧ 截至2025年12月31日止年度毛利率為1 ...

Financial Performance - The net profit attributable to the company's owners for the year ended December 31, 2025, was HKD 181 million, an increase of HKD 35 million (+24%) compared to HKD 146 million in 2024[3]. - Total revenue for the year was HKD 715,969 thousand, up from HKD 683,973 thousand in 2024, representing an increase of approximately 4.1%[10]. - Hotel operating income increased to HKD 586,820 thousand from HKD 556,086 thousand, reflecting a growth of 5.5% year-over-year[10]. - The company reported a loss before tax of HKD 145,632 thousand, improved from a loss of HKD 288,063 thousand in the previous year[5]. - The total comprehensive loss for the year was HKD 97,778 thousand, significantly reduced from HKD 337,248 thousand in 2024[6]. - Basic loss per share was HKD 0.347 in 2025, compared to HKD 0.567 in 2024, indicating a reduction in losses[20]. - The hotel operations net profit increased by 172% to HKD 64,842 thousand from HKD 23,811 thousand in the previous year[25]. - Total revenue from hotel operations rose by 6% to HKD 587 million, up from HKD 556 million in 2024[26]. - The overall profit of the group increased due to a revenue increase of HKD 32 million and a reduction in hotel operating costs by HKD 11 million[25]. Revenue Sources - Rental income rose slightly to HKD 129,124 thousand from HKD 127,887 thousand, indicating a marginal increase of 1.9%[10]. - Hotel services revenue increased to HKD 586,820,000 in 2025 from HKD 556,086,000 in 2024, representing a growth of 5.0%[14]. - Property investment revenue rose to HKD 129,124,000 in 2025, compared to HKD 127,887,000 in 2024, a slight increase of 1.0%[14]. - The average hotel occupancy rate remained above 90%, contributing to a total revenue increase of 5% to HKD 716 million[33]. - The group owns nine revenue-generating hotels, with seven located in Hong Kong, one in Shanghai, and one in London, along with a renovation project for the Wood Street Hotel in London[34]. Assets and Liabilities - The company's total assets decreased slightly to HKD 9,038,810 thousand from HKD 9,039,635 thousand in 2024[7]. - The net current assets improved to HKD 84,300 thousand, compared to a net current liability of HKD 218,397 thousand in the previous year[7]. - Trade receivables increased to HKD 17,549,000 in 2025 from HKD 15,197,000 in 2024, reflecting a growth of 15.5%[21]. - Trade payables decreased to HKD 4,179,000 in 2025 from HKD 5,288,000 in 2024, a decline of 20.9%[22]. - The group’s total debt decreased to HKD 838 million from HKD 1,016 million in 2024, resulting in a debt-to-asset ratio of 10%[32]. Expenses and Cost Management - The group’s interest expenses decreased to HKD 42,816,000 in 2025 from HKD 61,478,000 in 2024, a reduction of 30.4%[17]. - The group’s income tax expense increased to HKD 34,067,000 in 2025 from HKD 20,394,000 in 2024, an increase of 67.0%[17]. - The group’s administrative expenses (excluding depreciation) decreased to HKD 58 million from HKD 62 million in 2024[31]. - The group plans to continue efforts to increase revenue and control costs amid challenges in the hotel and rental income sectors[34]. Dividends and Shareholder Returns - The board did not recommend the payment of a final dividend for the year ended December 31, 2025, consistent with the previous year[4]. - The group did not propose any dividends for the years ended 2025 and 2024, focusing on cash retention for operational stability[19]. Governance and Compliance - The company has adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the current and prior years[9]. - The company did not purchase, sell, or redeem any of its listed securities for the year ending December 31, 2025[35]. - The company has not appointed separate individuals for the roles of Chairman and CEO, with Mr. Zheng concurrently holding both positions, which the board believes provides consistent leadership and cost savings[36]. - All directors confirmed compliance with the standard code of conduct for securities trading throughout the year[37]. - The audit committee reviewed the audited financial performance of the group for the year ending December 31, 2025[38]. - The financial statements for the year ending December 31, 2025, have been agreed upon by the auditors, Deloitte Touche Tohmatsu[39].