Financial Performance - The group's revenue increased by 7.5% to approximately HKD 3.54 billion for the fiscal year ending December 31, 2025, compared to HKD 3.29 billion in the previous fiscal year[2]. - The net profit attributable to shareholders rose by 72.3% to approximately HKD 108.1 million, up from HKD 62.7 million in the previous fiscal year[2]. - The group reported a gross profit of HKD 2.60 billion, compared to HKD 2.43 billion in the previous year[3]. - The total comprehensive income for the year attributable to shareholders was HKD 118.35 million, compared to HKD 52.48 million in the previous year[4]. - The group recorded a pre-tax profit of HKD 139.93 million, up from HKD 78.18 million in the previous fiscal year[3]. - The group's pre-tax profit increased to HKD 108,101,000 in 2025, up from HKD 62,749,000 in 2024, marking a growth of approximately 72.4%[37]. - Basic earnings per share rose to HKD 0.111 from HKD 0.062 in the previous year, reflecting an increase of approximately 79%[37]. Cash and Assets - The group maintained a strong cash position with cash and cash equivalents amounting to HKD 380 million and no bank borrowings at year-end[2]. - Cash and cash equivalents rose significantly from HKD 330,758,000 in 2024 to HKD 380,442,000 in 2025, an increase of approximately 15%[5]. - Total assets decreased to HKD 2,432,725 in 2025 from HKD 2,471,145 in 2024, a decline of 1.6%[20]. - Current assets increased from HKD 532,064,000 in 2024 to HKD 604,607,000 in 2025, representing a growth of about 13.6%[5]. - The total current assets and current liabilities as of December 31, 2025, were approximately HKD 604.6 million and HKD 804.9 million, respectively, resulting in a current ratio of approximately 0.8 times, up from 0.7 times in the previous year[75]. Dividends - The board proposed a final dividend of HKD 0.05 per share, bringing the total dividend for the year to HKD 0.085 per share[2]. - The company proposed an interim dividend of HKD 3.50 per share in 2025, compared to HKD 2.50 per share in 2024, indicating a 40% increase[36]. - The board proposed a final dividend of HKD 5.00 per share, up from HKD 2.50 per share in the previous fiscal year, bringing the total dividend to HKD 8.50 per share[47]. Operational Efficiency - The operating profit margin for key core brands improved due to ongoing process simplification and cost control measures[2]. - Employee costs increased to HKD 1.26 billion from HKD 1.19 billion year-on-year[3]. - The cost of materials increased to HKD 935,939,000 in 2025 from HKD 858,423,000 in 2024, reflecting a rise of about 9%[31]. - Other operating expenses increased to HKD 473.8 million, representing 13.4% of revenue, down from 14.0% in fiscal year 2024[52]. Market and Growth Strategies - The group is optimistic about future development despite complex global economic conditions, adhering to prudent financial principles[2]. - The group launched the "太兴集团App," which now has over 330,000 members, driving business growth and enhancing customer loyalty[63]. - The group optimized marketing strategies through partnerships with delivery platforms and e-commerce sales of electronic gift vouchers[62]. - The company is actively developing new products and optimizing its menu offerings, launching seasonal products to stimulate consumer interest and enhance customer attraction through careful pricing strategies[68]. Social Responsibility and Sustainability - The group actively collaborated with 23 social welfare organizations, sponsoring over 36 community and fundraising activities[65]. - The group received the "Green Drive Excellence Award" for its contributions to sustainable development and carbon neutrality[64]. - The company is committed to reducing its carbon footprint by introducing electric vehicles and optimizing delivery routes to enhance operational efficiency while expanding its business[71]. Employee and Governance - The company has signed the "Employer Charter for Racial Diversity and Inclusion" to foster an equal, diverse, and inclusive work environment, continuing its commitment to employee training and development for 16 consecutive years[66]. - As of December 31, 2025, the group employed approximately 6,300 employees, an increase from about 6,200 employees as of December 31, 2024, reflecting a growth of approximately 1.61%[82]. - The company has consistently adhered to the corporate governance code as stipulated in the listing rules up to December 31, 2025[88]. Future Outlook - In 2026, the company aims to enhance operational efficiency and resilience by focusing on product innovation, brand upgrading, and precise marketing strategies amidst structural challenges in the market[67]. - The company plans to strengthen its core brand and expand its presence in key areas such as Tsim Sha Tsui and Mong Kok, while carefully analyzing foot traffic and consumer habits for new store locations[67].

Financial Performance - Samsonite Group reported a significant increase in revenue, achieving $1.5 billion for the fiscal year ending December 31, 2025, representing a 15% year-over-year growth[2]. - For the fiscal year ending December 31, 2025, the company's net sales amounted to $3,497.6 million, a decrease of 2.5% compared to $3,588.6 million for the fiscal year ending December 31, 2024[13]. - Gross profit for the fiscal year ending December 31, 2025, was $2,084.7 million, down 3.1% from $2,152.2 million in the previous year, resulting in a gross margin of 59.6%[13]. - Operating profit decreased by 16.1% to $527.7 million in 2025 from $629.3 million in 2024[13]. - Net profit for the year was $312.5 million, reflecting a 16.1% decline from $372.6 million in the prior year[13]. - Adjusted net income fell by 20.7% to $293.4 million in 2025 from $369.8 million in 2024[13]. - Adjusted EBITDA decreased by 11.2% to $606.8 million in 2025 compared to $683.0 million in 2024, with an adjusted EBITDA margin of 17.3%[13]. - The company reported a free cash flow of $246.3 million, down 20.8% from $311.0 million in the previous year[13]. - Basic earnings per share (EPS) decreased by 12.8% to $0.208 in 2025 from $0.239 in 2024[13]. - Diluted EPS also saw a decline of 12.7%, falling to $0.207 in 2025 from $0.237 in 2024[13]. Sales and Market Strategy - The company highlighted a 20% increase in direct-to-consumer (DTC) sales, driven by the expansion of its e-commerce platform and retail stores[5]. - Samsonite aims to increase its market penetration in emerging markets by 25% within the next two years, capitalizing on strong growth potential[5]. - The DTC channel's net sales accounted for 41.7% of total net sales in 2025, up from 39.8% in 2024, indicating a strategic focus on direct-to-consumer growth[20]. - The non-travel product category's net sales represented 36.4% of total net sales in 2025, compared to 34.3% in 2024, reflecting the company's expansion into new product lines[20]. - The company plans to open 31 new retail stores in 2025, bringing the total number of self-operated retail stores to 1,150 by December 31, 2025[28]. Future Outlook - Future outlook indicates a projected revenue growth of 10% for the next fiscal year, supported by new product launches and market expansion strategies[5]. - Global travel demand is projected to continue growing in 2026, which is expected to support consumer demand for the company's products[22]. - The company anticipates strong long-term profit growth, driven by product innovation and sustainable development initiatives[22]. - The company anticipates maintaining sales growth momentum in Q1 2026, although it now expects sales to be roughly flat compared to Q1 2025 due to ongoing geopolitical conflicts[31]. Investment and Innovation - The company plans to invest $200 million in research and development to enhance product innovation and sustainability initiatives over the next three years[5]. - Approximately 40% of sales in 2025 are expected to come from products containing recycled materials, following the successful global launch of the Paralux TM series[29]. - The company is focusing on expanding its product portfolio, with plans to introduce 15 new product lines in the upcoming year[5]. Cost Management and Efficiency - The company reported a gross margin of 45%, reflecting improved operational efficiency and cost management strategies[5]. - The gross margin for the fiscal year ending December 31, 2025, was 59.6%, down 40 basis points from 60.0% for the fiscal year ending December 31, 2024, primarily due to increased strategic promotional activities and U.S. tariffs[18]. - Marketing expenses for the fiscal year ending December 31, 2025, were $206.4 million, a decrease of $20.6 million or 9.1% from $227.0 million for the fiscal year ending December 31, 2024, representing 5.9% of net sales[18]. Shareholder Returns - The company plans to return approximately $192.9 million to shareholders in 2025 through cash dividends of $150.0 million and share repurchases of $42.9 million[21]. - The board has proposed a cash dividend of $140.0 million for 2026, pending approval at the upcoming annual general meeting[21]. - The company distributed $150.0 million in cash to equity holders during the year[51]. Audit and Compliance - Management is responsible for preparing and fairly presenting the consolidated financial statements in accordance with IFRS standards, ensuring that internal controls are in place to prevent material misstatements due to fraud or error[40]. - The auditors are tasked with obtaining reasonable assurance that the consolidated financial statements are free from material misstatement, whether due to fraud or error[42]. - The audit identified the sufficiency of audit evidence regarding net sales as a key audit matter, requiring subjective judgment from the auditors[39]. Debt and Financing - The company issued $1,698.8 million in senior notes due 2033, while settling $1,688.6 million in senior notes due 2026[53]. - Total debt as of December 31, 2025, is $1,748.2 million, a decrease from $1,778.9 million as of December 31, 2024[173]. - The company entered into a revised credit agreement on November 6, 2025, establishing $800.0 million in A term loans and $494.0 million in B term loans[178]. - The company must maintain a total net leverage ratio not exceeding 4.50:1.00 and a cash interest coverage ratio of no less than 3.00:1.00 under the financial covenants of the 2025 Priority Credit Facility[185]. Impairment and Asset Management - The company recognized a non-cash impairment expense of $12.0 million for certain trademarks as of the year ending December 31, 2025, due to their carrying amounts exceeding recoverable amounts[133]. - The total impairment expenses recognized for the year ending December 31, 2025, amounted to $14.0 million, which includes $12.0 million for trademarks and $1.9 million for leasehold assets and property, plant, and equipment[136]. - The company assessed that there were no impairment triggers for property, plant, and equipment as of December 31, 2024, indicating stable asset values[141].

Revenue Performance - Retail segment revenue decreased by approximately 5.7% to about HKD 297.7 million, primarily due to the termination of the Cole Haan business[10] - Manufacturing segment revenue from external customers slightly increased by about 3.4% to approximately HKD 508.0 million, but profit before tax decreased to about HKD 7.8 million from approximately HKD 33.5 million[12] - The property investment segment generated stable revenue of about HKD 6.5 million, with a profit before tax of approximately HKD 3.5 million, compared to a loss of about HKD 0.8 million in the same period last year[14] - The group's revenue for the six months ending December 31, 2025, was approximately HKD 812.2 million, slightly down from HKD 813.7 million for the same period in 2024[20] - Total revenue for the six months ended December 31, 2025, was HKD 812,230,000, a slight decrease of 0.6% compared to HKD 813,710,000 for the same period in 2024[99] Profitability - The retail segment recorded a profit before tax of approximately HKD 18.3 million, compared to a loss of about HKD 85.0 million in the same period last year[10] - The group recorded a profit of approximately HKD 14.0 million for the period, a turnaround from a loss of approximately HKD 67.1 million in the same period last year[27] - The company reported a profit before tax of HKD 21,316, a significant recovery from a loss of HKD 58,865 in the previous year[71] - Net profit for the period was HKD 13,953, compared to a loss of HKD 67,083 in 2024, marking a turnaround[73] - Total comprehensive income for the period was HKD 26,600, compared to a loss of HKD 84,673 in 2024[74] Cost Management - The cost of sales increased by approximately 2.0% from HKD 539.6 million for the six months ending December 31, 2024, to approximately HKD 550.5 million for the same period in 2025[21] - Gross profit decreased by approximately 4.5% from HKD 274.1 million for the six months ending December 31, 2024, to approximately HKD 261.7 million for the same period in 2025, with the gross margin dropping to 32.2% from 33.7%[22] - Sales and distribution expenses decreased by approximately 13.6% from HKD 133.7 million for the six months ending December 31, 2024, to approximately HKD 115.5 million for the same period in 2025[23] - Administrative expenses decreased by approximately 8.7% from HKD 122.5 million for the six months ending December 31, 2024, to approximately HKD 111.8 million for the same period in 2025[24] - Employee benefits expenses decreased to HKD 184,813,000 in 2025 from HKD 200,943,000 in 2024, primarily due to a reduction in wages and salaries[110] Investments and Expansion - The company plans to expand its store openings for the outdoor brand "Keen" across China[10] - The group plans to expand its manufacturing operations to Indonesia, with a new factory expected to start operations by the end of 2024 and generate revenue by January 2025[18] - Capital expenditure for the six months ended December 31, 2025, was approximately HKD 13.0 million, primarily for expanding retail operations in China and Indonesia, and upgrading manufacturing facilities[30] - The group had no significant investments during the period[31] - The group acquired property, plant, and equipment at a cost of approximately HKD 13,002,000 for the six months ended December 31, 2025, down from HKD 39,092,000 in 2024[122] Corporate Governance - The audit committee, consisting of independent non-executive directors, has reviewed the interim financial results for the six months ending December 31, 2025[52] - The company has confirmed full compliance with the corporate governance code during the six months ending December 31, 2025[50] - The company has established a set of corporate governance practices that exceed the requirements of the corporate governance code[50] - The company has maintained a transparent and responsible governance structure to enhance shareholder value[50] Shareholder Information - The board declared an interim dividend of HKD 0.02 per ordinary share for the six months ended December 31, 2025, consistent with the previous period[43] - As of December 31, 2025, the company has a total of 965,430,000 shares issued, with Mr. Yang Huaqiang holding 437,720,000 shares, representing 45.34% ownership[45] - Dr. Yang Hehui owns 236,070,000 shares, accounting for 24.45% of the total shares[45] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the six months ending December 31, 2025[53] Financial Position - Cash and cash equivalents as of December 31, 2025, were approximately HKD 340.3 million, down from HKD 437.4 million as of June 30, 2025[34] - Total assets as of December 31, 2025, amounted to HKD 1,811,395,000, a decrease from HKD 1,882,902,000 as of June 30, 2025[94] - Total liabilities were HKD 252,681,000, down from HKD 312,171,000[94] - Current assets decreased to HKD 872,769 from HKD 934,426, primarily due to a reduction in cash and cash equivalents[75] - Current liabilities decreased to HKD 239,032 from HKD 296,399, improving the company's liquidity position[75] Trade and Inventory Management - Inventory turnover days decreased from 70 days for the year ended June 30, 2025, to 59 days for the six months ended December 31, 2025[37] - Trade receivables turnover days remained stable at 65 days for both the six months ended December 31, 2025, and the year ended June 30, 2025[38] - Trade payables and notes payable turnover days were 62 days for the six months ended December 31, 2025, compared to 63 days for the year ended June 30, 2025[39] - Trade receivables increased to HKD 309,941,000 from HKD 264,642,000, representing a growth of approximately 17%[125] Share Awards and Incentives - The company has granted a total of 3,260,848 share awards to twelve participants, including senior management, under the share incentive plan, representing approximately 0.34% of the total issued shares[61] - The fair value of the share awards granted on March 10, 2023, was approximately HKD 2,707,000, with the company recognizing this expense for the year ending June 30, 2023[61] - The company confirmed that no share awards were granted, vested, canceled, or expired during the six-month period ending December 31, 2025[63] - The share incentive plan allows for a maximum of 10% of the total issued shares to be granted, which equates to 96,543,000 shares based on the total issued shares of 965,430,000 as of December 31, 2025[59]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並表明概不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。 中遠海運控股股份有限公司 COSCO SHIPPING Holdings Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股份代號：1919） 截至二零二五年十二月三十一日止年度 全年業績 財務摘要： 中遠海運控股股份有限公司（「本公司」或「中遠海控」）董事會（「董事會」）謹此公 佈本公司及其附屬公司（統稱「本集團」）截至二零二五年十二月三十一日止年度 （「報告期」）的業績，連同截至二零二四年十二月三十一日止年度的比較數字。 1 • 二零二五年度本集團收入為人民幣219,503,805,000元，較二零二四年度減 少人民幣14,355,274,000元，降幅6.14%。 • 二零二五年度本公司權益持有人應佔利潤為人民幣30,859,651,000元，較二 零二四年度減少人民幣18,312,814,000元，降幅37.24%。 • 二零二五年度每股基本及攤薄盈利分別為人民幣1.99元及人民幣 ...

Financial Performance - Revenue decreased by 17.8% to $93.3 million compared to $113.4 million in the previous year[3] - Net profit attributable to shareholders was $4.0 million, a decline of 60.2%, with earnings per share of $0.2[3] - Total comprehensive income for the year was $4.8 million, down from $9.9 million in the previous year[5] - The group reported a pre-tax profit of $4,028,000 for 2025, a decrease from $10,130,000 in 2024, with cost of goods sold at $62,122,000 compared to $78,575,000 in the previous year[23] - Basic earnings per share decreased to $0.0016 in 2025 from $0.0041 in 2024, based on weighted average shares of 2,497,752,351[26] - The group recorded a profit attributable to shareholders of $4.0 million for the year, a decrease from $10.1 million in 2024, primarily due to a decline in revenue[52] Gross Profit and Margins - Gross profit was $32.7 million, down 14.2%, with a gross margin of 35.0%, an increase of 1.5 percentage points[3] - Gross profit for the period was $32.7 million, with a gross margin of 35.0%, compared to $38.0 million and 33.5% in 2024[49] Research and Development - Research and development costs increased to $21.5 million from $18.7 million, indicating a focus on innovation despite declining sales[4] - Research and development costs rose to $21.5 million in 2025, up 15.2% from $18.7 million in 2024, representing 23.1% of sales compared to 16.5% in 2024[50] - The company is focused on the development of electronic shelf labels and integrated circuit chips, with significant investments in research and development costs[73] Sales and Market Performance - Sales in Hong Kong accounted for $55.7 million, down from $63.5 million, indicating a significant market contraction[15] - The average price of products declined due to ongoing competition, impacting revenue despite increased shipment volumes[34] - New display IC products saw a shipment increase of over 40% year-on-year, driven by sales of four-color display labels[35] - In 2025, the total shipment volume increased by 16.7% to approximately 342 million units compared to 293.2 million units in 2024[34] Inventory and Assets - Inventory increased to $18.3 million from $13.4 million, reflecting potential challenges in sales turnover[6] - Non-current assets in mainland China increased to $6,283,000 in 2025 from $5,145,000 in 2024, while assets in Hong Kong decreased to $1,638,000 from $2,599,000[17] - Current assets as of December 31, 2025, were $153.5 million, while current liabilities were $21.9 million, resulting in a current ratio of 7.01, up from 6.17 in 2024[53][54] Cash Flow and Liabilities - Cash and cash equivalents remained stable at $104.4 million compared to $104.2 million in the previous year[6] - Total liabilities decreased to $19.9 million in 2025 from $22.9 million in 2024, primarily due to a reduction in contract liabilities[31] - The group had no significant borrowings or loans as of December 31, 2025, maintaining a net cash position[55] Dividends and Shareholder Returns - The company did not recommend a final dividend for the year ending December 31, 2025, reflecting a conservative approach amid declining profits[3] - No dividends were declared or paid for the years ended December 31, 2025, and 2024, with the board deciding not to recommend a final dividend for 2025[29] - The board did not recommend the payment of a final dividend for the year[69] Future Developments - The company is developing seven-color display IC products, with prototypes expected to be produced in the first half of 2026 and market launch planned for the second half[36] - The company supports the development of PrismTM 3 multi-color electronic paper film technology, with prototypes expected in Q2 2026 and market launch planned for Q4 2026[37] - The company is developing a mini-LED backlight solution for automotive HUD displays, with a standard IC expected to launch in the first half of 2026[41] - The company plans to launch a portable black-and-white e-book reader IC in the second and third quarters of 2026, following successful customer validation[44] - The company expects to see a significant contribution to revenue from its smart media electronic signage solutions, which are entering mass production in the first half of 2026[43] Management and Governance - The board of directors consists of executive director Mr. Wang Huazhi (CEO), non-executive directors Mr. Yang Kun (Chairman), Mr. Wang Hui, and Ms. Liu Fei, as well as independent non-executive directors Mr. Chen Zhiguang, Dr. Chen Zhenghao, and Dr. Guo Haicheng[72]

Financial Performance - Revenue increased by approximately 40.0% to approximately RMB 2,254.9 million[3] - Gross profit rose by approximately 9.1% to approximately RMB 567.9 million, with a gross margin decrease from approximately 32.3% to approximately 25.2%[3] - Profit attributable to equity holders of the parent was approximately RMB 137.9 million, with earnings per share of approximately RMB 8.60 (basic) and RMB 8.55 (diluted)[5] - Total comprehensive income for the year amounted to RMB 117.8 million, compared to RMB 84.2 million in the previous year[4] - The company’s pre-tax profit for 2025 is RMB 217,503,000, compared to RMB 170,564,000 in 2024, representing a year-over-year increase of 27.5%[24] - The basic earnings per share for 2025 is RMB 137,895,000, up from RMB 102,522,000 in 2024, indicating a growth of 34.5%[26] - Net profit attributable to equity holders increased by approximately 34.5% from about RMB 102.5 million for the year ending December 31, 2024, to about RMB 137.9 million for the year ending December 31, 2025, driven by increased revenue and other income[71] Assets and Liabilities - Non-current assets increased to RMB 1,249.4 million from RMB 1,012.7 million, driven by goodwill growth to RMB 182.7 million[6] - Current assets totaled RMB 2,144.5 million, with trade receivables increasing to RMB 1,241.4 million from RMB 1,161.2 million[6] - Current liabilities rose to RMB 1,049.9 million, with trade payables increasing to RMB 535.9 million from RMB 416.7 million[7] - Net assets increased to RMB 2,269.2 million from RMB 1,996.0 million, reflecting strong equity growth[7] - Trade receivables increased to RMB 1,058,961,000 in 2025 from RMB 922,229,000 in 2024, reflecting a rise of 14.8%[28] - Trade payables totaled RMB 535,874,000 in 2025, an increase from RMB 416,724,000 in 2024, with RMB 482,620,000 due within six months[35] Revenue Breakdown - Revenue from the sale of power electronic devices increased to RMB 2,254,903,000 in 2025, up from RMB 1,610,209,000 in 2024, representing a growth of approximately 40%[16] - Domestic market revenue was RMB 2,142,149,000 in 2025, up 41% from RMB 1,520,030,000 in 2024, with a gross margin of 23.8%[36] - The revenue from the power distribution sector increased by 34% to RMB 1,090,481,000 in 2025, while revenue from flexible transmission surged by 145% to RMB 689,358,000[41][44] - Revenue from electrified transportation reached RMB 60,470,000 in 2025, a 22% increase from RMB 49,446,000 in 2024[46] - Revenue from the electric vehicle sector decreased by 16% to RMB 1,360,000 in 2025, indicating challenges in this segment[46] - Revenue from the new energy generation and storage segment surged by 111% to approximately RMB 576.9 million in 2025[50] - Revenue from self-developed power semiconductors was approximately RMB 120.9 million in 2025, a growth of about 104% from 2024[55] Costs and Expenses - The cost of goods sold for 2025 was RMB 1,689,591,000, compared to RMB 1,077,788,000 in 2024, reflecting a rise of about 56.7%[18] - Financing costs decreased to RMB 15,520,000 in 2025 from RMB 17,973,000 in 2024, a reduction of approximately 13.6%[21] - The total tax expense for 2025 was RMB 45,083,000, an increase from RMB 36,741,000 in 2024, representing a growth of about 22.5%[23] - The depreciation expense for property, plant, and equipment was RMB 50,819,000 in 2025, compared to RMB 45,342,000 in 2024, reflecting an increase of about 12.3%[18] - Research and development costs were approximately RMB 152.1 million, up from RMB 137.5 million[4] Corporate Governance and Future Plans - The company has not disclosed specific future guidance or new product developments in the provided content[3][4][5] - The company plans to focus on developing new SiC MOSFET and IGBT products for the photovoltaic, wind power, and data center power supply sectors in 2026[56] - The group plans to focus on high-end power semiconductors such as IGBT and SiC, enhancing R&D and industrialization efforts in these areas[86] Shareholder Information - The company proposed a final dividend of RMB 14,411,000 for 2025, slightly down from RMB 14,766,000 in 2024[25] - The board has proposed a final dividend of HKD 0.01 per share for the fiscal year ending December 31, 2025, pending approval at the upcoming annual general meeting[92] - The annual general meeting is scheduled for June 2, 2026, at 10:00 AM[93] - Share transfer registration will be suspended from May 28, 2026, to June 2, 2026, to determine the identity of shareholders entitled to attend the annual general meeting and vote[94] Employee Relations - The group employs 1,166 staff members and emphasizes performance-based compensation and diverse training programs[83] - The company has maintained good relationships with employees, with no significant labor disputes affecting operations[83]

Financial Performance - The group's revenue decreased by 9.7% to HKD 2.5814 billion, compared to HKD 2.8584 billion in 2024[5] - Shareholders' profit attributable to the company fell by 9.3% to HKD 677.5 million, down from HKD 746.6 million in 2024[5] - Basic earnings per share decreased by 16.2% to HKD 1.01, compared to HKD 1.20 in 2024[5] - The net profit for the year was HKD 700.1 million, compared to HKD 802.3 million in 2024, representing a decline of 12.7%[32] - Basic earnings per share for 2025 were HKD 1.01, down from HKD 1.20 in 2024, with total profit attributable to shareholders at HKD 677,463,000[53] - Total revenue for 2024 reached HKD 2,858,424,000, with significant contributions from hotel and service apartments (HKD 791,268,000), rental business (HKD 597,389,000), and travel business (HKD 1,179,404,000)[44] - The company reported a pre-tax profit of HKD 922,522,000 for the year[44] Business Operations - The group maintained a hotel occupancy rate close to 90% despite renovations affecting about 10% of room availability[10] - The group successfully enhanced its asset quality and customer experience through strategic upgrades, laying a solid foundation for sustainable growth[9] - The group strategically closed underperforming restaurants to optimize its dining portfolio amid a challenging operating environment[13] - The group is enhancing its Muslim-friendly facilities and services, achieving a 5-star rating from CrescentRating for The Mira Hong Kong and the Moon Hotel, and winning the "Muslim-Friendly Hotel of the Year" award[21] - The group is investing in digital transformation, including AI training for management and upgrading hotel facilities to reduce energy consumption by approximately 30% post-renovation[22] - The group is optimizing its tenant mix in shopping malls to attract experiential consumption and lifestyle brands, reflecting confidence from brand partners[23] Rental and Travel Business - The group's hotel and serviced apartment business generated total revenue of HKD 561.9 million, a decrease of 5.9% compared to last year's HKD 597.4 million; EBITDA was HKD 116.3 million, down 16.9% from last year's HKD 139.9 million[19] - Rental income for the year was HKD 772.8 million, with EBITDA of HKD 649.6 million, reflecting a decrease of 2.3% and 2.2% respectively from last year's HKD 791.3 million and HKD 663.9 million[23] - The group's restaurant business reported total revenue of HKD 264.1 million, a decline of approximately 9.1% compared to last year; EBITDA was HKD 3.2 million, with a one-time write-off of HKD 6.1 million from closing two restaurants[26] - The travel business revenue for the year was HKD 982.6 million, a decrease of 16.7% from HKD 1.1794 billion last year[27] - EBITDA for the travel business was HKD 35.8 million, down 64.9% from HKD 102 million last year[27] Market Outlook - The group anticipates that geopolitical risks and trade tensions will continue to impact global market prospects, but expects stable economic growth in Hong Kong supported by national policies[15] - The group plans to leverage the enhanced airport capacity and new flight routes to attract more tourists from various markets, providing growth momentum for the hotel industry[15] - The group is cautiously optimistic about business recovery as external conditions improve and internal optimization measures take effect[20] - The group plans to continue investing in technology innovation and sustainable development to lay a foundation for long-term growth[20] Financial Position - The group maintained a strong financial position with total cash of HKD 6.4 billion as of December 31, 2025, up from HKD 6 billion the previous year[30] - Total assets less current liabilities amounted to HKD 21.979336 billion, an increase from HKD 21.677375 billion in 2024[34] - Total assets less current liabilities increased to HKD 21,979,336, up from HKD 21,677,375 in 2024, representing a growth of 1.4%[35] - Net asset value rose to HKD 21,434,305 in 2025, compared to HKD 21,099,926 in 2024, reflecting an increase of 1.6%[35] - Total equity attributable to shareholders reached HKD 21,235,593, up from HKD 20,883,304, marking a growth of 1.7%[35] Investment Properties - The fair value of the group's investment properties decreased by HKD 12.7 million during the year, with a total fair value of HKD 15.1 billion as of December 31, 2025[25] - The fair value of investment properties decreased by HKD 12,657,000 in 2025, compared to a decrease of HKD 76,666,000 in 2024[55] Corporate Governance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules for the fiscal year ending December 31, 2025, ensuring effective leadership and strategy execution[72] - The audit committee reviewed the financial performance for the year ending December 31, 2025, discussing matters related to auditing, internal controls, and financial reporting[73] - The company's auditor, KPMG, confirmed that the financial data disclosed in the preliminary announcement aligns with the consolidated financial statements for the year ending December 31, 2025[74] Employee and Shareholder Engagement - The total number of full-time employees as of December 31, 2025, was 1,339, with 1,291 in Hong Kong, 36 in China, and 12 overseas[69] - The company has been recognized as a "Talent Enterprise" for ten consecutive years since 2011, achieving the "Super MD" status in 2023, highlighting its commitment to employee training and development[71] - The company plans to hold its 2026 Annual General Meeting on June 8, 2026, with the final dividend expected to be distributed on July 10, 2026, pending approval[66][68] Miscellaneous - The company has not applied any new standards or interpretations that have not yet come into effect during the reporting period[39] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries for the fiscal year ending December 31, 2025[76] - All directors complied with the standards set forth in the code for securities transactions during the fiscal year ending December 31, 2025[77] - Forward-looking statements made by the company are subject to various risks and uncertainties that may cause actual results to differ significantly from those anticipated[78] - The company's annual report for 2025 will be distributed to shareholders and uploaded to the company's website at an appropriate time[79]

Financial Performance - The total revenue for the year ended December 31, 2025, was HKD 123,028,000, representing an increase of 13.4% compared to HKD 108,520,000 in 2024[4] - The cost of goods sold was HKD 77,026,000, up from HKD 61,792,000, indicating a rise of 24.6%[4] - The net loss for the year was HKD 2,033,000, compared to a profit of HKD 880,000 in the previous year, reflecting a significant decline[4] - Basic and diluted loss per share was HKD 0.15, compared to earnings of HKD 0.02 per share in 2024[4] - Other income and gains decreased to HKD 573,000 from HKD 3,720,000, a drop of 84.6%[4] - The total comprehensive loss for the year was HKD 8,487,000, compared to a comprehensive income of HKD 1,393,000 in 2024[5] - The company reported a revaluation loss of HKD 7,729,000 in the year, compared to a gain of HKD 614,000 in the previous year[5] - The company’s financial costs decreased to HKD 220,000 from HKD 258,000, a reduction of 14.8%[4] Assets and Liabilities - Non-current assets totaled HKD 76,108,000 in 2025, a decrease of 3.5% from HKD 79,188,000 in 2024[6] - Current assets increased to HKD 39,973,000 in 2025, up 21.5% from HKD 32,859,000 in 2024[6] - Total liabilities increased to HKD 36,352,000 in 2025, compared to HKD 23,831,000 in 2024, reflecting a significant rise of 52.5%[7] - The company's net asset value decreased to HKD 79,729,000 in 2025 from HKD 88,216,000 in 2024, a decline of 9.4%[7] - Cash and cash equivalents rose to HKD 16,679,000 in 2025, an increase of 26.5% from HKD 13,155,000 in 2024[6] - Trade receivables increased to HKD 15,022,000 in 2025, up 27.5% from HKD 11,795,000 in 2024[6] - Current liabilities totaled HKD 22,982,000 in 2025, a 61.5% increase from HKD 14,216,000 in 2024[6] - The company reported a significant increase in lease liabilities, rising to HKD 3,898,000 in 2025 from HKD 2,888,000 in 2024, an increase of 35%[6] Business Operations - The company operates primarily in food processing and trading, as well as restaurant management, indicating a diversified business model[8] - The company plans to focus on market expansion and new product development in the upcoming fiscal year[4] - Total revenue for the food processing and trading segment reached HKD 123,028,000 in 2025, up from HKD 108,520,000 in 2024, representing a growth of 13.4%[16] - The segment's operating loss was HKD 2,204,000 in 2025, compared to a profit of HKD 1,445,000 in 2024, indicating a significant decline in profitability[24] - The total assets for the food processing and trading segment amounted to HKD 108,370,000 in 2025, slightly increasing from HKD 107,990,000 in 2024[17] - The total liabilities for the segment increased to HKD 36,352,000 in 2025, up from HKD 23,831,000 in 2024, reflecting a rise of 52.5%[17] - The cost of goods sold was HKD 77,026,000 in 2025, compared to HKD 61,792,000 in 2024, marking an increase of 24.6%[24] Shareholder and Governance - The company does not recommend any dividend payment for the year ending December 31, 2025, consistent with the previous year[28] - The basic earnings per share for the year ending December 31, 2025, is (0.15) HKD, compared to 0.02 HKD for 2024, indicating a significant decline in profitability[30] - The company has adopted the corporate governance code as per GEM listing rules and has complied with its provisions since its listing on June 30, 2017[62] - The company secretary has been appointed to ensure compliance with relevant laws and regulations, and the board is confident in the secretary's ability to fulfill this role[63] - The roles of the Chairman and CEO are clearly separated to ensure a balance of power within the company[64] - The company has confirmed adherence to the securities trading code and GEM listing rules throughout the reporting period[65] - The board of directors includes executive directors Mr. Lai King Wah, Mr. Lai Ho Yan, and Mr. Ho Kin Wah, along with non-executive directors and independent non-executive directors[67] - The board composition reflects a mix of executive and independent oversight to ensure effective governance[67] Future Outlook and Strategy - The company aims to enhance shareholder value through strategic initiatives and operational improvements[67] - The management team is dedicated to driving growth and innovation within the industry[67] - The company will continue to monitor market trends and adjust strategies accordingly[67] - Ongoing communication with stakeholders is a priority for the company to foster trust and engagement[67] - The group plans to maintain relationships with existing customers while expanding its customer base to more restaurants and hotels[42] - The group aims to enhance its processing capacity to support business expansion and continuous development[40] Joint Ventures and Agreements - The joint venture with Rongshi Global Holdings Limited allows the company to hold a 55% stake in the joint venture, enhancing its presence in the food and beverage sector in Hong Kong[35] - The company has committed to provide initial funding of 3,000,000 HKD to the joint venture for establishing its first restaurant in Hong Kong[36] - The company will be the primary supplier of food and beverage materials for all restaurants under the joint venture, which is expected to boost future sales and revenue[37] Compliance and Reporting - The auditors have verified the financial statements for the year ending December 31, 2025, ensuring consistency with the group's financial reports[66] - The announcement will be published on the Hong Kong Stock Exchange website for at least seven consecutive days from the date of publication[67] - The company is committed to transparency and will provide updates on its official website[67] - Future announcements will include performance summaries and market outlooks[67] - The group has maintained a prudent treasury policy, ensuring a stable liquidity position throughout the period[50] - There were no significant acquisitions or disposals of subsidiaries or associates during the year[56]

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。 （於香港註冊成立之有限公司） （股份代號：00194） 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 經 審 核 業 績 公 佈 業 績 廖 創 興 企 業 有 限 公 司（「本 公 司」）董 事 會 宣 佈 本 公 司 及 其 附 屬 公 司（「本 集 團」） 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 經 審 核 綜 合 業 績。 綜 合 損 益 表 | | | | | | | | | | | | 二 | 零 | 二 | 五 | 年 | 二 | 零 | 二 四 年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Financial Performance - Revenue for the year ended December 31, 2025, increased significantly by 30.2% to RMB 3.53 billion, driven by the continuous expansion of consumer-facing business segments [4]. - The company achieved a turnaround to profitability with a net profit of RMB 12.0 million, compared to a net loss in 2024 [4]. - Total revenue for the year increased by 30.2% to RMB 3.53 billion, up from RMB 2.71 billion in the previous year, primarily reflecting increases in online retail pharmacy services, wholesale, and integrated medical services [27]. - The net profit improved from a loss of RMB 854.9 million for the year ending December 31, 2024, to a profit of RMB 11.8 million for the year ending December 31, 2025 [47]. - Adjusted net profit for the year ending December 31, 2025, was RMB 20.4 million, compared to RMB 17.1 million for the year ending December 31, 2024 [52]. - Gross profit rose by 8.4% from RMB 515.9 million for the year ending December 31, 2024, to RMB 559.4 million for the year ending December 31, 2025 [36]. - Operating loss for 2025 was RMB 13,422 thousand, a significant improvement from a loss of RMB 777,693 thousand in 2024 [106]. - The company reported a basic earnings profit of RMB 10,856,000 for 2025, compared to a loss of RMB 854,885,000 in 2024 [147]. User Growth and Engagement - Average monthly active users grew by 35% to 13.7 million, with total registered doctors exceeding 251,000 by the end of the reporting period [4]. - The total number of registered users reached 56.4 million, with a repurchase rate exceeding 85% and prescription drugs accounting for over 80% of total transaction value [9]. - Online retail pharmacy service revenue increased significantly by 33.4% year-on-year to RMB 1.87 billion, driven by user growth and continuous innovation in user experience and technology [15]. - Online retail pharmacy services generated revenue of RMB 1,873,395 thousand in 2025, up 33.4% from RMB 1,404,790 thousand in 2024 [120]. Strategic Initiatives and Innovations - The integrated AI model "Xing Shi" was launched, incorporating multi-modal functions aimed at enhancing chronic disease management [4]. - The company has initiated pilot testing of AI digital doctors to assist in online consultations, combining the trust of human medical services with the scalability of digital delivery [12]. - Strategic partnerships were established with leading pharmaceutical companies to enhance the accessibility of innovative therapies in oncology and metabolic diseases [13]. - The company continues to focus on innovation and strategic partnerships to meet the growing demand for high-quality chronic disease management services [8]. - The introduction of AI technologies, including the "AI Content Creation Assistant," aims to enhance content creation speed and quality while reducing operational costs [17]. - The "Medical as a Service" (MaaS) strategy will guide the company towards a patient-centered operational model, enhancing platform capabilities to meet evolving customer and industry partner needs [22]. Financial Position and Assets - Total assets less current liabilities amounted to RMB 170,117 thousand in 2025, up from RMB 162,794 thousand in 2024 [109]. - The company reported a total equity of RMB 153,729 thousand in 2025, an increase from RMB 131,704 thousand in 2024 [112]. - Cash and cash equivalents increased from RMB 174.6 million as of December 31, 2024, to RMB 233.5 million as of December 31, 2025, indicating improved cash flow from operating activities [62]. - Trade receivables rose from RMB 36.3 million as of December 31, 2024, to RMB 61.8 million as of December 31, 2025, reflecting increased receivables due to business expansion in online social insurance payments [57]. - Inventory increased from RMB 141.4 million as of December 31, 2024, to RMB 180.4 million as of December 31, 2025, while the average inventory turnover period improved from 23.1 days to 19.8 days [56]. Cost Management and Expenses - Total sales cost increased by 35.4% to RMB 2,966.7 million for the year ending December 31, 2025, from RMB 2,191.4 million for the year ending December 31, 2024 [35]. - Sales and distribution expenses increased by 12.8% to RMB 401.2 million for the year ending December 31, 2025, from RMB 355.8 million for the year ending December 31, 2024 [39]. - Administrative expenses decreased by 83.8% to RMB 147.3 million for the year ending December 31, 2025, from RMB 909.5 million for the year ending December 31, 2024 [42]. - Financing costs decreased by 98.2% to RMB 1.4 million for the year ending December 31, 2025, compared to RMB 77.2 million for the year ending December 31, 2024 [45]. Shareholder and Capital Management - The company raised approximately HKD 144.30 million from the placement of 45,181,000 shares at a price of HKD 3.32 per share [84]. - About 90% or HKD 129.87 million of the net proceeds from the placement will be used to accelerate the development of an AI-driven chronic disease management platform [86]. - The company aims to expand its shareholder base and capital base through the placement and subscription [86]. - The company does not plan to declare any final dividends for the fiscal year ending December 31, 2025 [103]. Governance and Management - The board has appointed a new chairman and is in the process of searching for a new CEO following the resignation of the previous CEO [83][87]. - The company is committed to corporate governance as per the guidelines set out in the listing rules [171]. - The board of directors includes both executive and non-executive members, ensuring diverse oversight [178].