Revenue and Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 7 million, a decrease from HKD 9.7 million in the same period last year[17]. - The company reported a net loss of HKD 144,425,000 for the period, compared to a net loss of HKD 529,680,000 in 2024, reflecting a 72.7% improvement[76]. - Total comprehensive loss for the period was HKD 125,895,000, down from HKD 479,205,000 in the previous year, indicating a 73.7% decrease[76]. - The loss before tax for the period was HKD 144,425,000, significantly improved from a loss of HKD 529,637,000 in the previous year, marking a reduction of 72.7%[75]. - The group reported a total operating loss of HKD 20,749,000 for the six months ended September 30, 2025, compared to a loss of HKD 182,767,000 for the same period in 2024[94]. - The net loss for the six months ended September 30, 2025, was HKD 120,671,000, significantly improved from a loss of HKD 504,298,000 in the same period of 2024[106]. Expenses and Cost Management - Administrative and general expenses decreased to HKD 55.2 million from HKD 106.5 million in the same period last year due to strict cost control measures[25]. - The financial expenses for the six months ended September 30, 2025, were HKD 37,852,000, a decrease from HKD 65,870,000 in 2024[100]. - The group is actively controlling administrative and operating costs through various channels[87]. Property and Investment Performance - Property segment loss decreased to HKD 119.7 million from HKD 229.3 million in the previous year[28]. - The fair value loss of investment properties was HKD 27 million, lower than HKD 45 million in the same period last year[24]. - Contribution from the luxury residential project in Macau decreased to HKD 10.8 million from HKD 33 million in the previous year[29]. - The fair value loss from a joint venture's commercial property in China was HKD 71.3 million, compared to HKD 43.9 million in the previous year[24]. - The property segment reported a revenue of HKD 3,007,976,000 for the six months ended September 30, 2025, compared to HKD 3,255,597,000 for the same period in 2024[98]. Liquidity and Financial Position - The group’s cash and cash equivalents stood at HKD 17,400,000, indicating significant liquidity risk and uncertainty regarding its ability to continue as a going concern[41]. - The group’s total bank and other borrowings amounted to HKD 752,700,000 as of September 30, 2025, with a net debt-to-equity ratio of 0.36[40]. - The group plans to sell properties as a strategic measure to enhance liquidity and provide additional financial resources[42]. - The group continues to seek refinancing and new funding to manage liquidity needs and financial obligations[87]. - The company’s cash and cash equivalents decreased to HKD 17,392,000 from HKD 47,652,000, a decline of 63.5%[78]. Shareholder Information and Equity - The company has not issued or canceled any shares during the period, maintaining a total of 907,198,410 shares as of September 30, 2025[48]. - The largest shareholder, Dr. Chan Kwok Keung, holds 528,948,012 shares, accounting for 58.30% of the total shares[52]. - The board members hold a total of 51,400,000 shares, representing 5.66% of the total shares[52]. - A subscription agreement was signed on November 24, 2025, to issue 100,800,000 new shares at HKD 0.7 each[49]. Impairments and Losses - The group holds a 20% stake in Beijing Poly Hotel, which has been fully impaired with a loss of HKD 136,200,000 due to unfavorable factors including potential land recovery and lack of cooperation from major shareholders[35]. - The company reported impairment losses on property, plant, and equipment of HKD 7,293,000 for the six months ended September 30, 2025, down from HKD 11,525,000 in 2024[104]. - The group recognized a loss of HKD 220,408,000 from the sale of its 50% stake in Bayshore Ventures JV Ltd., which was sold for CAD 18,500,000 (approximately HKD 106,781,000)[115]. Future Outlook and Strategic Plans - Despite weak economic indicators, the group anticipates continued global economic recovery and plans to enhance operational efficiency and cash flow management[46]. - The group will cautiously explore potential property development projects outside of China, Macau, and Canada to support future growth[46]. - The group expects to improve liquidity and operating cash flow over the next twelve months through the sale of property inventory[87]. Employee and Management Information - The total number of employees as of September 30, 2025, is 121, an increase from 119 as of March 31, 2025[47]. - The company reported a total of HKD 6,851,000 in short-term benefits for key management personnel for the six months ended September 30, 2025, unchanged from the previous year[150]. Corporate Governance and Compliance - The audit committee reviewed the accounting principles and practices adopted by the group, discussing financial reporting and internal control matters[68]. - The company has adhered to all applicable corporate governance codes and principles during the period, despite the absence of a CEO[69].

Revenue and Profitability - Revenue for the six months ended September 30, 2025, was HK$20,343,000, representing a 19.5% increase from HK$16,980,000 in the same period of 2024[10] - Gross profit decreased to HK$2,137,000, down 22.2% from HK$2,746,000 year-over-year[10] - Loss from operations for the period was HK$19,750,000, an improvement from a loss of HK$23,547,000 in the previous year[10] - Loss before taxation was HK$23,049,000, compared to a loss of HK$25,129,000 in the prior period, indicating a reduction in losses[10] - Total comprehensive loss for the period was HK$29,624,000, compared to HK$21,243,000 in the same period last year, reflecting increased losses[10] - For the six months ended September 30, 2025, the loss attributable to owners of the company was HK$22,798,000, a decrease from HK$24,573,000 in the same period of 2024, representing a 7.2% improvement[12] - The total comprehensive loss for the period attributable to owners of the company was HK$29,378,000, compared to HK$20,971,000 in the previous year, indicating a 40.5% increase in losses[12] - Basic loss per share from continuing operations was HK$6.5, slightly improved from HK$7.1 in the prior year[12] Expenses and Cost Management - Selling and distribution costs decreased to HK$3,931,000 from HK$5,692,000, showing a reduction in expenses[10] - Administrative expenses were reduced to HK$10,360,000 from HK$19,517,000, highlighting cost-cutting measures[10] - The company continues to focus on improving operational efficiency and reducing costs in response to market conditions[10] Financial Position and Assets - Non-current assets decreased significantly from HK$123,240,000 as of March 31, 2025, to HK$37,047,000 as of September 30, 2025, reflecting a 69.9% decline[14] - Current liabilities increased sharply from HK$199,510,000 to HK$226,408,000, marking a 13.5% rise[14] - The company reported net current liabilities of HK$126,060,000, an improvement from HK$173,173,000 in the previous period, indicating a 27.2% reduction[14] - The company's cash and cash equivalents increased to HK$11,919,000 from HK$10,701,000, showing an increase of 11.4%[14] - The total assets classified as held for sale amounted to HK$76,230,000 as of September 30, 2025, compared to nil in the previous period[14] - The company's share capital decreased significantly from HK$435,252,000 to HK$2,720,000, indicating a substantial reduction in equity[14] - The capital deficiency increased to HK$94,321,000 from HK$65,134,000, reflecting a worsening financial position[14] Cash Flow and Liquidity - Net cash used in operating activities for the six months ended September 30, 2025, was HK$673,000, compared to HK$1,136,000 in the same period of 2024, indicating a reduction in cash outflow[19] - The company reported a decrease in trade and other receivables by HK$1,162,000 for the six months ended September 30, 2025, compared to an increase of HK$32,326,000 in 2024[19] - The Group's cash and bank balances as stated in the condensed consolidated statement of financial position were HK$11,919,000[1] - The Group is undertaking plans to improve liquidity and financial position, including seeking legal opinions regarding potential cash flow impacts[35] Discontinued Operations - The business of property investment was discontinued in the current period, focusing on milk products and services[25] - For the six months ended September 30, 2025, the company reported a loss of HK$161,000 from discontinued operations, compared to a profit of HK$459,000 in the same period of 2024[112] - The total revenue from discontinued operations was HK$0 for the six months ended September 30, 2025, with other net gains and losses amounting to a loss of HK$44,000[110] Segment Performance - Revenue from the Milk Products Business for the six months ended 30 September 2025 was HK$6,217,000, while the Services Business generated HK$14,126,000, totaling HK$20,343,000[78] - The adjusted EBITDA for the Milk Products Business was a loss of HK$11,098,000, while the Services Business reported a profit of HK$7,850,000, resulting in a consolidated adjusted EBITDA loss of HK$3,248,000[78] - The reportable segment loss (adjusted EBITDA) for the milk products business was HK$18,065,000, while the services business reported a profit of HK$764,000, resulting in a total adjusted EBITDA loss of HK$17,301,000[83] Financial Liabilities and Borrowings - The Group's financial liabilities measured at amortized cost total HK$37,918,000 as of September 30, 2025, up from HK$36,917,000 as of March 31, 2025[180] - Other borrowings increased from HK$41,081,000 on March 31, 2025, to HK$47,651,000 on September 30, 2025, reflecting a rise of 15.5%[187] - The group has secured its borrowings with debentures and mortgages over its properties and assets[188] Legal and Arbitration Matters - The arbitration notices filed by The Infant Food Company Pty Limited claim outstanding trade payables of approximately AUD5,653,000 and losses and damages of AUD34,200,000[197] - The Arbitration Awards mandated Willis Trading and Alice Trading to settle trade payables of approximately AUD5,653,000 and additional losses and damages of approximately AUD24,636,000 (equivalent to HK$125,220,000)[198][199] Asset Valuation and Impairment - The fair value of the investment property located in Australia was revalued to HK$43,518,000 as of September 30, 2025, using Level 3 inputs[145] - The investment property was sold for AUD 9,100,000, with the sale expected to be completed within eight weeks of the contract date[138] - The company has not recognized any impairment losses against the carrying amount of goodwill for the current period[164]

Damai Entertainment Holdings Limited Damai Entertainment Holdings Limited 大麥娛樂控股有限公司 (前稱 Alibaba Pictures Group Limited 阿里巴巴影業集團有限公司) 於百慕達註冊成立之有限公司 中期報告 2025 26 本中期報告採用環保紙印刷 大麥娛樂控股有限公司 ( formerly known as Alibaba Pictures Group Limited阿里巴巴影業集團有限公司) Incorporated in Bermuda with limited liability INTERIM REPORT 2025 26 This Interim Report is printed on environmentally friendly paper 2025 / 26 中期報告 INTERIM REPORT 大 Damai Entertainment Holdings Limited 麥娛樂控股有限公司 獨 立 非 執 行 董 事（「獨立非執行董事」） 宋立新女士 童小幪先生 陳志宏先生 執行委員會 ...

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2025 截至2025年9月30日止六個月 EMINENCE ENTERPRISE LIMITED 高山企業有限公司 INTERIM REPORT 2025/26 中期業績報告 2025/2026中期業績報告 高山企業有限公司 Contents 目錄 - 1 - CORPORATE INFORMATION 公司資料 2 FINANCIAL HIGHLIGHTS 財務概要 5 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 7 DISCLOSURE OF INTERESTS 權益披露 36 CORPORATE GOVERNANCE AND OTHER INFORMATION 企業管治及其他資料 42 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 簡明綜合損益及其他全面收益表 50 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSIT ...

Royal Deluxe Holdings Limited 中期報告 2025 (Incorporated in the Cayman Islands with limited liability) Royal Deluxe Holdings Limited Stock code: 3789 Interim Report 2025 | 公司資料 | 2 | | --- | --- | | 摘要 | 4 | | 簡明綜合損益及其他全面收益表 | 5 | | 簡明綜合財務狀況報表 | 6 | | 簡明綜合權益變動表 | 7 | | 簡明綜合現金流量表 | 8 | | 未經審核簡明綜合中期財務報表附註 | 9 | | 管理層討論及分析 | 20 | | 其他資料 | 30 | 公司資料 董事會 執行董事 王麒銘先生 （主席） 王宇軒先生 （行政總裁， 於二零二五年十月二十三日獲委任） 周麗卿女士 審核委員會 鄺炳文先生 （主席） 黎雅明先生 蕭錦成先生 薪酬委員會 黎雅明先生 （主席） 鄺炳文先生 蕭錦成先生 王麒銘先生 提名委員會 蕭錦成先生 （主席） 黎雅明先生 鄺炳文先生 王麒銘先生 周麗卿女士 （於二零二五 ...

CHI KAN HOLDINGS LIMITED 智勤控股有限公司 (Incorporated in the Cayman Islands with limited liability) Stock Code 股份代號：9913 (於開曼群島註冊成立的有限公司) CONTENTS 目錄 Page 頁次 Corporate Information 2 公司資料 Management Discussion and Analysis 4 管理層討論及分析 Corporate Governance and Other Information 10 企業管治及其他資料 Condensed Consolidated Statement of Comprehensive Income 19 簡明合併全面收益表 Condensed Consolidated Statement of Financial Position 21 簡明合併財務狀況表 Condensed Consolidated Statement of Changes in Equity 23 簡明合併權益變動表 Condensed Consolidated S ...

Interim Report 中期報告 2025 CONTENTS 目錄 P.2 Corporate Information 公司資料 P.4 Condensed Consolidated Statement of Profit or Loss 簡明綜合損益表 P.5 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收 益表 P.6 Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 P.8 Condensed Consolidated Statement of Changes in Equity 簡明綜合權益變動表 P.10 Condensed Consolidated Statement of Cash Flows 簡明綜合現金流量表 P.11 Notes to the Condensed Consolidated Interim Financial Information 簡明綜合中期財務資 ...

CHINA CHUNLAI EDUCATION GROUP CO., LTD. 中國春來教育集團有限公司 （於開曼群島註冊成立的有限公司） 股票代號 : 1969 2025 年度報告 目 錄 | | 頁次 | | --- | --- | | 公司概覽 | 2 | | 公司資料 | 3 | | 財務概要 | 5 | | 財務摘要 | 6 | | 管理層討論與分析 | 7 | | 董事及高級管理層 | 20 | | 董事會報告 | 28 | | 企業管治報告 | 53 | | 環境、社會及管治報告 | 66 | | 獨立核數師報告 | 172 | | 綜合損益及其他全面收益表 | 177 | | 綜合財務狀況表 | 178 | | 綜合權益變動表 | 180 | | 綜合現金流量表 | 181 | | 綜合財務報表附註 | 183 | | 釋義 | 233 | | 詞彙表 | 238 | 中國春來教育集團有限公司 2025年年度報告 公司概覽 本集團為中國民辦高等教育的領先提供商之一。自2004年成立起，我們已在河南省經營四所學院╱院校，在湖 北省經營兩所院校並參與江蘇省一所院校的運營。本集團院校的在校生總數從2 ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HK$1,930,578, a decrease of 6.4% compared to HK$2,062,897 in 2024[13] - EBITDA for the same period was HK$171,678, reflecting a decline of 30.7% from HK$247,906 in 2024[13] - Profit before tax dropped by 74.7% to HK$14,333 from HK$56,642 in the previous year[13] - Profit for the period decreased by 89.5% to HK$4,218 compared to HK$40,301 in 2024[13] - The loss attributable to owners of the Company was HK$10,312, a significant decline from a profit of HK$14,097 in 2024, marking a 173.1% change[13] - EBITDA margin decreased to 8.9% from 12.0% in the previous year, reflecting reduced operational efficiency[13] - Net profit margin fell to 0.2% from 2.0%, indicating a significant drop in profitability relative to revenue[13] - No dividend was declared for the period, compared to 1.0 HK cents per share in the previous year[13] Assets and Liabilities - Total assets increased to HK$5,319,342 as of September 30, 2025, up from HK$5,026,888 as of March 31, 2025[13] - Total liabilities rose to HK$3,104,274 from HK$2,821,892, indicating a growing debt level[13] Revenue Breakdown - Revenue from medical services decreased by 14.2% year-on-year to HK$1,084.2 million, attributed to softer market sentiment and the impact of previous disposals[50] - Revenue from aesthetic medical and beauty and wellness services increased by 7.3% to HK$676.5 million, accounting for 35.0% of total revenue, attributed to the acquisition of aesthetic medical business[104][108] - Revenue from veterinary and other services increased by 1.2% to HK$170.9 million, representing 8.9% of total revenue, primarily due to the expansion of veterinary services[105][109] Operational Initiatives - The Group's operational excellence initiatives included workforce restructuring and procurement governance enhancements to mitigate revenue pressure[35][36] - The Group expanded its insured service offerings through wellness, preventive health, and chronic-disease programs co-developed with insurance partners[27] - Enhanced package design and workplace health initiatives improved value propositions for employers, strengthening the Group's penetration across diversified industries[28] - Ecosystem integration strengthened cross-referral pathways among various service lines, enhancing service continuity and multi-service retention[32] Market Environment - The Group expects the operating environment in Hong Kong's private healthcare sector to remain challenging in the near term, but long-term fundamentals remain attractive due to rising healthcare expenditure and an aging population[71][74] - Cross-border healthcare integration within the Greater Bay Area is accelerating, supported by initiatives to enhance talent mobility and develop interoperable health-record frameworks[77] Share Options and Capital Management - The Company operates multiple share schemes, including the 2016 Share Option Scheme, which was terminated on May 29, 2023, with no options available for grant as of April 1, 2025, and September 30, 2025[166][169] - The Company has a total of 10,000,000 share options with various exercise periods, with the first set expiring in 2031[160] - The Group's capital management strategy includes selective divestment of non-core assets to enhance capital efficiency and improve asset quality[90] Future Outlook - The company remains confident in its long-term strategy and competitive position despite short-term market pressures, focusing on technology and operational transformation to capture long-term opportunities in the evolving healthcare landscape[101] - The Group is positioned to lead the next phase of market transformation in Hong Kong's healthcare sector, supported by ageing demographics and rising wellness awareness[98]

目 錄 | 公司資料 | 2 | | --- | --- | | 管理層討論及分析 | 3 | | 其他資料 | 8 | | 未經審核簡明綜合損益及其他全面收益表 | 13 | | 未經審核簡明綜合財務狀況表 | 14 | | 未經審核簡明綜合權益變動表 | 15 | | 未經審核簡明綜合現金流量表 | 16 | | 未經審核中期財務報告附註 | 17 | | 獨立核數師審閱報告 | 32 | 公司資料 董事 執行董事 林景生先生 （行政總裁） 譚瑞堅先生 非執行董事 鄭志明先生 （主席） 李志軒先生 呂施施女士 獨立非執行董事 周紹榮先生 黃文宗先生 陳定邦先生 董事會委員會 執行委員會 林景生先生 （主席） 譚瑞堅先生 審核委員會 黃文宗先生 （主席） 鄭志明先生 周紹榮先生 陳定邦先生 李志軒先生 薪酬委員會 陳定邦先生 （主席） 周紹榮先生 黃文宗先生 李志軒先生 提名委員會 周紹榮先生 （主席） 黃文宗先生 陳定邦先生 李志軒先生 呂施施女士 公司秘書 吳心瑜女士 授權代表 譚瑞堅先生 吳心瑜女士 核數師 國富浩華（香港）會計師事務所有限公司 根據會計及財務匯報局條例 註冊的公眾利益實體核數師 開曼 ...