Contents 目錄 Pages 頁次 | CORPORATE INFORMATION | 公司資料 | 2 | | --- | --- | --- | | MANAGEMENT DISCUSSION AND ANALYSIS | 管理層討論及分析 | 5 | | UNAUDITED CONDENSED CONSOLIDATED | 未經審核簡明綜合中期財 | | | INTERIM FINANCIAL STATEMENTS | 務報表 | | | • Condensed Consolidated Statement of Profit | • 簡明綜合損益及其他全 | 51 | | or Loss and Other Comprehensive Income | 面收益表 | | | • Condensed Consolidated Statement of | • 簡明綜合財務狀況表 | 53 | | Financial Position | | | | • Condensed Consolidated Statement of | • 簡明綜合權益變動表 | 55 | | Changes in Equ ...

Contents 目錄 | CORPORATE INFORMATION | 2 | | --- | --- | | 公司資料 | | | CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND | | | OTHER COMPREHENSIVE INCOME | 4 | | 簡明綜合損益及其他全面收益表 | | | CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION | 5 | | 簡明綜合財務狀況表 | | | CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | 6 | | 簡明綜合權益變動表 | | | CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | 7 | | 簡明綜合現金流量表 | | | NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | 8 | | 簡明綜合財務報表附註 | | | MANAGEMENT DISCU ...

2 E. Bon Holdings Limited Interim Report 2025 / 2026 Content 目錄 怡 邦 行 控 股 有 限 公 司 2025 / 2026 中 期 報 告 1 2 Corporate Information 公 司 資 料 4 Management Discussion and Analysis 管 理 層 討 論 與 分 析 11 Other Information 其 他 資 料 17 Interim Condensed Consolidated Statement of Comprehensive Income 中 期 簡 明 綜 合 全 面 收 益 表 18 Interim Condensed Consolidated Statement of Financial Position 中 期 簡 明 綜 合 財 務 狀 況 表 19 Interim Condensed Consolidated Statement of Changes In Equity 中 期 簡 明 綜 合 權 益 變 動 表 20 Interim Condensed Consolid ...

Financial Performance - Total revenue decreased by approximately HKD 65.5 million or 15.2% to about HKD 366.6 million for the six months ended September 30, 2025, compared to HKD 432.1 million for the same period in 2024[6]. - Profit attributable to the company's owners dropped by approximately HKD 8.7 million or 91.6% to about HKD 0.8 million for the six months ended September 30, 2025, from HKD 9.5 million in the previous year[6]. - Revenue for the six months ended September 30, 2025, was HKD 366,561,000, a decrease of 15.2% compared to HKD 432,088,000 for the same period in 2024[53]. - Gross profit for the same period was HKD 5,478,000, significantly up from HKD 1,496,000, indicating a gross margin improvement[53]. - The company reported a net profit of HKD 782,000 for the six months ended September 30, 2025, down from HKD 9,453,000 in the previous year, reflecting a decline of 91.7%[53]. - The company incurred a net cash outflow from operating activities of HKD 16,976,000 for the six months ended September 30, 2025, compared to HKD 79,074,000 in the previous year[59]. - The company reported a loss of HKD 10,265,000 in the template engineering segment for the six months ended September 30, 2025[66]. - The company reported a pre-tax profit of HKD 9,453,000 for the six months ended September 30, 2025, compared to a profit of HKD 14,826,000 in the same period last year, indicating a decline of about 36.5%[68]. Revenue Breakdown - Private sector project revenue was approximately HKD 211.1 million, accounting for about 57.6% of total revenue, down from 75.1% in the previous year[6]. - Public sector project revenue increased to approximately HKD 155.5 million, representing about 42.4% of total revenue, up from 24.9% in the previous year[6]. Cash and Liquidity - As of September 30, 2025, the group had cash and cash equivalents of approximately HKD 92.4 million, a decrease of about 14.8% from HKD 108.4 million as of March 31, 2025, primarily due to an increase in receivables caused by major contractors delaying settlement processes by over 30 days[22]. - Cash and cash equivalents decreased to HKD 92,390,000 from HKD 108,415,000, a reduction of 14.8%[59]. - The group maintains a prudent funding and treasury policy, closely monitoring liquidity to meet its funding needs[23]. Expenses and Costs - Administrative expenses rose by approximately HKD 0.5 million or 5.4% to about HKD 9.8 million due to increased headquarters operational costs[18]. - Total salary costs recognized in the profit and loss statement for the six months ended September 30, 2025, amounted to approximately HKD 248.9 million, compared to approximately HKD 263.3 million for the same period in 2024, reflecting a decrease of about 5.9%[38]. - The company reported a significant increase in impairment losses on trade receivables, amounting to HKD 15,695,000 for the current period compared to HKD 3,519,000 in the previous year[74]. Shareholder Information - Major shareholders, including Mr. Leung and Ms. Chao, hold 1,125,000,000 shares, representing 75% of the issued share capital of the company[45]. - The company did not purchase, sell, or redeem any of its securities during the six months ended September 30, 2025[49]. - The company did not declare any interim dividend for the six months ended September 30, 2025[8]. Assets and Liabilities - Total assets as of September 30, 2025, were HKD 413,303,000, slightly down from HKD 417,597,000 as of March 31, 2025[55]. - Total liabilities decreased slightly to HKD 299,680,000 as of September 30, 2025, from HKD 304,756,000 as of March 31, 2025[72]. - The company's contract assets amounted to HKD 137,501,000, a decrease from HKD 152,941,000 as of March 31, 2025, reflecting a reduction of approximately 10%[88]. - Trade receivables increased to HKD 79,316,000 as of September 30, 2025, from HKD 53,881,000 as of March 31, 2025, representing a growth of approximately 47.2%[86]. - Trade payables increased to HKD 21,307,000 as of September 30, 2025, compared to HKD 16,345,000 as of March 31, 2025, representing a growth of about 30%[89]. - The company's contract liabilities stood at HKD 47,290,000 as of September 30, 2025, slightly up from HKD 46,351,000 as of March 31, 2025[90]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and confirmed compliance for the six months ended September 30, 2025[40]. - The audit committee, consisting of three independent non-executive directors, has approved and reviewed the accounting principles and policies adopted by the group for the interim results announcement for the six months ended September 30, 2025[43]. Employment and Workforce - As of September 30, 2025, the company employed 1,512 staff, a decrease from 1,578 staff as of September 30, 2024, primarily due to a reduction in the scale of existing template engineering projects[38]. Other Information - The group did not have any significant acquisitions or disposals of subsidiaries, associates, or joint ventures as of September 30, 2025[25]. - The group has no significant contingent liabilities as of September 30, 2025[27]. - The group has no significant off-balance sheet capital commitments as of September 30, 2025[26]. - The group has not reported any significant legal claims or disputes as of the report date, although there is an ongoing claim related to delayed material delivery amounting to approximately HKD 21.2 million[28]. - There were no significant subsequent events after September 30, 2025, up to the report date[51].

Financial Performance - The company reported revenue of HKD 124,114,000 for the six months ended September 30, 2025, a decrease of 13.2% compared to HKD 142,984,000 in the same period of 2024[5] - Gross profit increased to HKD 36,443,000, up 2.8% from HKD 35,454,000 year-over-year[5] - The company incurred a pre-tax loss of HKD 577,177,000, an improvement from a loss of HKD 938,613,000 in the previous year, representing a 38.5% reduction in losses[5] - Total comprehensive loss for the period was HKD 518,556,000, compared to HKD 895,854,000 in the prior year, indicating a 42.1% decrease[6] - The company reported a net loss of HKD 556,673,000 for the six months ended September 30, 2025, compared to a net loss of HKD 904,102,000 for the same period in 2024, indicating a decrease in losses by approximately 38.5%[9] - The company reported a basic loss per share of HKD 4.54, compared to HKD 19.63 in the previous year, indicating a significant improvement[5] Assets and Liabilities - Non-current assets totaled HKD 15,259,360,000 as of September 30, 2025, down from HKD 15,526,613,000 at the end of March 2025[7] - Current liabilities decreased to HKD 3,006,836,000 from HKD 4,596,236,000, reflecting a 34.5% reduction[8] - The company's equity attributable to owners increased to HKD 12,955,443,000 from HKD 11,980,829,000, marking an 8.1% increase[8] - The group's total assets as of September 30, 2025, amounted to HKD 23,074,840,000, compared to HKD 22,438,841,000 as of March 31, 2025[25] - The total liabilities increased to HKD 10,173,083,000 from HKD 10,509,314,000[25] Cash Flow and Financing - The company generated a net cash inflow from operating activities of HKD 205,712,000 for the six months ended September 30, 2025, compared to HKD 88,045,000 for the same period in 2024, representing an increase of approximately 133.4%[11] - The company’s financing activities resulted in a net cash inflow of HKD 752,055,000 for the six months ended September 30, 2025, compared to a net cash outflow of HKD 477,405,000 for the same period in 2024, showing a turnaround in financing cash flows[12] - The company issued new shares, raising HKD 1,491,986,000 during the reporting period, contributing significantly to its capital structure[9] - The company obtained bank loans of approximately HKD 84,973,000 during the period and repaid HKD 383,513,000[50] Revenue Breakdown - Rental income for the six months ended September 30, 2025, was HKD 117,834, slightly down from HKD 119,904 in 2024, indicating a decrease of about 1.7%[16] - The total classified revenue for the six months ended September 30, 2025, was HKD 597,660, compared to HKD 1,117,021 in 2024, reflecting a significant drop of approximately 46.6%[18] - The revenue from commercial properties for the six months ended September 30, 2025, was HKD 208,546, compared to HKD 372,197 in 2024, a decline of about 44%[22] - The revenue from residential properties for the six months ended September 30, 2025, was HKD 378,154, down from HKD 706,190 in 2024, indicating a decrease of approximately 46.4%[22] Investments and Acquisitions - The company acquired property, plant, and equipment for a cash consideration of HKD 217,000 during the six months ended September 30, 2025, compared to no acquisitions in the same period of 2024[40] - The company sold its subsidiary in Macau for a total consideration of HKD 1,980,000, with net assets and liabilities sold amounting to HKD 697,000[60] - The group sold its subsidiary Hoyden Holdings Limited for a total consideration of HKD 10,130,000, with net assets and liabilities of HKD 10,080,000 at the time of sale[61] - The group also sold its subsidiaries Broadway Center G1 Limited and Broadway Center H1 Limited for a total consideration of HKD 4,200,000, with net assets of HKD 3,310,000[62] Market Outlook and Strategy - The company’s strategy includes partnerships with joint ventures and associates in Hong Kong and mainland China for commercial and residential property investments[21] - The group is optimistic about the sustainable recovery of the commercial sector in Hong Kong, with increased transactions observed in luxury properties[79] - The group is actively marketing the "Central Exchange" project, which is expected to be completed in mid-2026, featuring a 28-story office building and a hotel with 125 rooms[78] - The company plans to convert the "Lai Sun Yuen Long Centre" project into a public housing complex with a construction area of approximately 480,000 square feet, with redevelopment expected to start in 2026[80] Corporate Governance - The board has not appointed a CEO, which deviates from the corporate governance code, but believes the current management structure is effective[93] - The audit committee has reviewed the unaudited condensed consolidated interim financial statements for the six months ending September 30, 2025[96] - The company has adopted a standard code of conduct for securities trading, confirming compliance during the review period[94] Employee and Shareholder Information - The total number of employees increased to 94 as of September 30, 2025, from 93 on March 31, 2025[86] - As of September 30, 2025, the total equity held by major shareholders amounts to 8,302,105,917 shares, representing approximately 64.39% of the company's total shares[89] - The group did not recommend the payment of an interim dividend for the six months ended September 30, 2025[71]

頁次 目錄 02 公司資料 03 財務摘要 04 主席報告 06 管理層討論及分析 12 其他資料 18 簡明綜合全面收益表 21 簡明綜合財務狀況表 23 簡明綜合權益變動表 24 簡明綜合現金流量表 25 簡明綜合中期財務報表附註 01 專業旅運（亞洲）企業有限公司 公司資料 董事 執行董事 高偉明先生 （主席） 鄭杏芬女士 （行政總裁） 高駿宏先生（自二零二五年 十一月二十七日起獲委任） 獨立非執行董事 周國榮先生 麥敬修先生 謝錦添先生 審核委員會 麥敬修先生 （主席） 周國榮先生 謝錦添先生 提名委員會 周國榮先生 （主席） 高偉明先生 鄭杏芬女士 麥敬修先生 謝錦添先生 薪酬委員會 謝錦添先生 （主席） 周國榮先生 鄭杏芬女士 麥敬修先生 公司秘書 陳穎婷女士 核數師 香港立信德豪會計師事務所有限公司 執業會計師及註冊公眾利益實體核數師 主要往來銀行 恒生銀行有限公司 註冊辦事處 Cricket Square Hutchins Drive P. O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 香港總辦事處及主要營業地點 香港灣仔 告士打道160號 ...

Financial Performance - Revenue and other gains for the six months ended 30 September 2025 reached approximately HK$347.0 million, a significant increase of 180.9% compared to HK$123.5 million in 2024[6] - Gross profit for the same period was HK$23.7 million, reflecting a growth of 21.4% from HK$19.6 million in 2024[6] - Profit attributable to the owners of the Company increased to HK$5.4 million, up 28.5% from HK$4.2 million in 2024[6] - The Group's revenue for the six months ended 30 September 2025 was approximately HK$340.3 million, an increase of approximately HK$227.8 million or 202.6% compared to the same period in 2024[62] - For the six months ended 30 September 2025, the Group recorded a profit attributable to shareholders of approximately HK$5.4 million, an increase from HK$4.2 million in the same period of 2024[26] - Total comprehensive income for the period was HK$10,617,000, compared to HK$4,757,000 in 2024, representing an increase of approximately 123%[119] - The company reported a net cash from financing activities of HK$4,120,000, contrasting with a net cash used of HK$8,884,000 in the prior year, showing a turnaround in financing[123] - The company declared dividends of HK$4,000,000 for the period, consistent with the previous year[121] Assets and Liabilities - Total assets as of 30 September 2025 amounted to HK$454.5 million, representing a 21.9% increase from HK$372.8 million as of 31 March 2025[6] - Current assets as of 30 September 2025 were approximately HK$320.9 million, with a current ratio of approximately 1.4, up from 1.2 as of 31 March 2025[78] - The gearing ratio increased to approximately 53.3% as of 30 September 2025, compared to 49.0% as of 31 March 2025[79] - Trade receivables as of 30 September 2025 were HK$51,216,000, up from HK$34,224,000 as of 31 March 2025, indicating a growth of 49.7%[199] - Total staff costs for the six months ended September 30, 2025, were approximately HK$41.2 million, compared to HK$30.5 million for the same period in 2024[88] - The Group's total specified non-current assets amounted to HK$125,664,000 as of 30 September 2025, up from HK$117,122,000 as of 31 March 2025, indicating an increase of 7%[168] Segment Performance - The Group achieved a profit from contracting of approximately HK$5.5 million, reflecting significant improvement in the construction industry environment during 2025[27] - The strategic investments division registered a segment profit of approximately HK$1.0 million, realized from an unrealized fair value gain of an investment in a large Real Estate Investment Trust[38] - The property investment division recorded a segment profit of approximately HK$2.3 million, with the property in Dublin maintaining a 100% occupancy rate[42] - The Building Solutions segment reported a revenue decrease of approximately HK$4.9 million or 86.9%, with gross profit dropping by approximately HK$2.3 million or 86.6%[65] - Segment profit for the Building Contracting segment was HK$113,000, while the Strategic Solutions segment reported a profit of HK$1,137,000, contributing to a total segment profit of HK$4,147,000[150] Market and Strategic Focus - The Group is focusing on expanding its reach within the built environment through strategic investments in property development and technology startups[20] - Building Solutions Limited is committed to enhancing the built environment by implementing cutting-edge technology to improve air quality and reduce energy consumption[19] - The Group aims to make direct investments in physical properties to generate additional income and expand its geographical reach[21] - The Group is actively involved in tenders that could provide a solid pipeline of work through to the end of the financial year, with high-value opportunities anticipated[29] - The imminent arrival of the high-speed rail network in Japan is expected to significantly enhance the local property market, reducing travel time to Sapporo by 70%[40] - The Group is optimistic about the improving outlook for Hong Kong in 2025, driven by a substantial increase in inbound tourists[48] Cost Management and Operational Challenges - The operating environment for Building Solutions has been challenging, resulting in a segment loss of approximately HK$0.9 million due to tight corporate spending controls[31] - The Group is focusing on cost management to maintain and improve margins while allocating resources to technology-based solutions[49] - Administrative and other operating expenses rose by approximately HK$1.7 million or 13.0%, totaling approximately HK$14.8 million for the period[71] Cash Flow and Financing - Cash flows from operating activities resulted in a net cash used of HK$8,054,000, a decrease from HK$35,598,000 in the previous year, reflecting a decline of 77.6%[122] - As of 30 September 2025, cash and cash equivalents totaled HK$31,322,000, down from HK$52,127,000 at the end of the same period in 2024, a decrease of 40%[123] Employee and Corporate Governance - The Group's employee count increased to 105 as of September 30, 2025, from 99 as of September 30, 2024[88] - The Group's share option scheme has 80,000,000 options available for grant, representing 10% of the issued share capital, with no options granted or exercised since its adoption[99] - The Company did not recommend the payment of an interim dividend for the six months ended 30 September 2025, while a final dividend of HK$4,000,000 was paid on 6 October 2025[193] Accounting and Compliance - The unaudited condensed consolidated interim financial statements are prepared in compliance with HKAS 34 and presented in Hong Kong dollars (HK$)[133] - The adoption of new and amended HKFRS Accounting Standards effective from April 1, 2025, did not have any significant impact on the Group's accounting policies[134] - Significant judgments and estimates in preparing the financial statements were consistent with those applied in the annual financial statements for the year ended March 31, 2025[138]

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more suscep ...

ASIA-PAC FINANCIAL INVESTMENT COMPANY LIMITED 亞太金融投資有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8193） 2025 中期報告 ASIA-PAC FINANCIAL INVESTMENT COMPANY LIMITED 亞太金融投資有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock code: 8193) 2025 INTERIM REPORT 香港聯合交易所有限公司（「聯交所」）GEM 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的 公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審 慎周詳的考慮後方作出投資決定。 由於GEM 上市公司普遍為中小型公司，在GEM 買賣的證券可能會較於主板買賣的證券承 受較大的市場波動風險，同時無法保證在GEM 買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，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 ...

波司登國際控股有限公司 於開曼群島註冊成立之有限責任公司 股份代號：3998 2025/26 中期報告 于適 波司登品牌代言人 波司登國際控股有限公司（「本公司」，連同其附屬公 司統稱「本集團」）是中華人民共和國（「中國」） 知名的羽絨服裝品牌運營商。本集團創始於1976年， 在創始人高德康先生的引領下開啓艱苦卓絕的創業歷 程。2007年10月11日，本公司於聯交所主板上市，股 份代號3998。 本集團專心專注羽絨服領域，成為消費者公認的羽絨 服專家，引領行業發展。目前，本集團旗下羽絨服品 牌包括波司登、雪中飛、冰潔等，通過這些品牌，本 集團得以滿足不同客戶群體的需求及鞏固其在中國市 場的領導地位。其中，波司登品牌羽絨服連續30年 （1995-2024年）全國銷量遙遙領先。 目前，本集團的女裝業務品牌包括：杰西、邦寶、柯 利亞諾、柯羅芭；校服品牌為颯美特。 本集團積極實施品牌發展戰略，在2025年，波司登 再次入選Brand Finance「全球最具價值服飾品牌排 行榜50強」，同時入選世界品牌實驗室2025年「亞 洲品牌500強」。未來，本集團將繼續聚焦羽絨服核 心主業，以品牌建設為核心，全面升級產品、渠道 ...