年 報 目 錄 2 公司資料 4 主席報告 6 管理層討論及分析 11 董事及高級管理層履歷詳情 17 企業管治報告 34 董事會報告 47 環 境、社 會 及 管 治 報 告 104 獨立核數師報告 109 綜合損益及其他全面收益表 110 綜合財務狀況表 112 綜合權益變動表 114 綜合現金流量表 116 綜合財務報表附註 176 財務概要 1 光榮建築控股有限公司 董事會 執行董事 Kwan Mei Kam 先 生 （主 席 兼 行 政 總 裁） Tay Yen Hua 女 士 黃善達先生 關曙明女士 獨立非執行董事 董事委員會 審核委員會 龐廷武先生 （主 席） 武冬青博士 曹顯裕先生 林亞烈先生 薪酬委員會 曹顯裕先生 （主 席） 武冬青博士 Kwan Mei Kam 先 生 林亞烈先生 龐廷武先生 提名委員會 林亞烈先生 （於 二 零 二 四 年 十 月 十 日 調 任） 龐廷武先生 武冬青博士 曹顯裕先生 Kwan Mei Kam先 生 （主 席） 關曙明女士 曹顯裕先生 武冬青博士 林亞烈先生 （於 二 零 二 四 年 十 二 月 十 九 日 獲 委 任） 公司秘書 吳愷盈女士 授權代表 ...

[Supplemental Announcement](index=1&type=section&id=%E8%A3%9C%E5%85%85%E5%85%AC%E5%91%8A) [Report Purpose and Scope](index=1&type=section&id=%E6%8A%A5%E5%91%8A%E7%9B%AE%E7%9A%84%E4%B8%8E%E8%8C%83%E5%9B%B4) This announcement supplements remuneration data for President Mr. Han Qiang (2022-2024) and Executive General Manager Mr. Luo Chuansong (2023-2024) for Jinke Smart Services Group Co., Ltd - This announcement provides supplementary remuneration information for **Mr. Han Qiang**, the company's president, for the 2022, 2023, and 2024 annual reports[3](index=3&type=chunk) - This announcement provides supplementary remuneration information for **Mr. Luo Chuansong**, the company's executive general manager, for the 2023 and 2024 annual reports[3](index=3&type=chunk) [Supplemental Remuneration Information for Key Management](index=1&type=section&id=%E6%A0%B8%E5%BF%83%E7%AE%A1%E7%90%86%E5%B1%A4%E9%85%AC%E9%87%91%E8%A3%9C%E5%85%85%E8%B3%87%E6%96%99) This section details supplementary remuneration for President Mr. Han Qiang (2022-2024) and Executive General Manager Mr. Luo Chuansong (2023-2024), including salary, bonus, and share-based payments [Remuneration for the Year Ended December 31, 2022](index=1&type=section&id=%E6%88%AA%E8%87%B32022%E5%B9%B412%E6%9C%8831%E6%97%A5%E6%AD%A2%E5%B9%B4%E5%BA%A6%E9%85%AC%E9%87%91) For the year ended December 31, 2022, President Mr. Han Qiang's total remuneration was **RMB 2,190 thousand**, mainly from salary and bonus Mr. Han Qiang's 2022 Remuneration Details | Metric | Amount (RMB in thousands) | | :--- | :--- | | Director's Fee | – | | Salary | 1,490 | | Bonus | 613 | | Housing Allowance | 26 | | Retirement Benefit Scheme Contributions | 35 | | Share-based Payments | – | | Other Allowances and Benefits in Kind | 26 | | **Total** | **2,190** | [Remuneration for the Year Ended December 31, 2023](index=1&type=section&id=%E6%88%AA%E8%87%B32023%E5%B9%B412%E6%9C%8831%E6%97%A5%E6%AD%A2%E5%B9%B4%E5%BA%A6%E9%85%AC%E9%87%91) Specific remuneration details for Mr. Han Qiang and Mr. Luo Chuansong for the year ended December 31, 2023, are not provided in the text, despite being mentioned - The announcement explicitly states that supplementary remuneration information for **Mr. Han Qiang** and **Mr. Luo Chuansong** will be provided for the 2023 annual report[3](index=3&type=chunk) - However, the detailed remuneration data for the year ended December 31, 2023, is missing from the provided text content, with only a title and empty table rows[4](index=4&type=chunk) [Remuneration for the Year Ended December 31, 2024](index=2&type=section&id=%E6%88%AA%E8%87%B32024%E5%B9%B412%E6%9C%8831%E6%97%A5%E6%AD%A2%E5%B9%B4%E5%BA%A6%E9%85%AC%E9%87%91) For the year ended December 31, 2024, President Mr. Han Qiang's total remuneration was **RMB 4,389 thousand**, and Executive General Manager Mr. Luo Chuansong's was **RMB 4,838 thousand**, both significantly increased by share-based payments Key Management 2024 Remuneration Details | Metric | Mr. Han (RMB in thousands) | Mr. Luo (RMB in thousands) | | :--- | :--- | :--- | | Director's Fee | – | – | | Salary | 1,912 | 1,530 | | Bonus | 436 | 562 | | Housing Allowance | 26 | 26 | | Retirement Benefit Scheme Contributions | 35 | 35 | | Share-based Payments | 1,956 | 2,661 | | Other Allowances and Benefits in Kind | 24 | 24 | | **Total** | **4,389** | **4,838** | - In 2024, the total remuneration for **Mr. Han Qiang** and **Mr. Luo Chuansong** significantly increased, primarily due to the introduction of share-based payments, amounting to **RMB 1,956 thousand** and **RMB 2,661 thousand**, respectively[5](index=5&type=chunk)

[Supplemental Announcement Overview](index=1&type=section&id=Supplemental%20Announcement%20Overview) This section provides an overview of the supplemental announcement, detailing its purpose and scope [Purpose and Scope of Announcement](index=1&type=section&id=Purpose%20and%20Scope%20of%20Announcement) This announcement supplements the 2024 annual report of Spai Health Technology Co., Ltd., providing additional information on the company's share schemes - This announcement supplements the 2024 annual report, primarily providing additional information on the company's share schemes (2017 Scheme, Restricted Share Unit Scheme, and 2023 Share Award Scheme)[3](index=3&type=chunk)[9](index=9&type=chunk) - All other information in the annual report remains unchanged[9](index=9&type=chunk) [Details of Share Scheme Updates](index=1&type=section&id=Details%20of%20Share%20Scheme%20Updates) This section provides updated details on the company's 2017 Scheme, Restricted Share Unit Scheme, and 2023 Share Award Scheme [2017 Scheme](index=1&type=section&id=2017%20Scheme) The 2017 Scheme's outstanding share options decreased between the annual report date and the announcement date, with a remaining term of approximately three years Outstanding Share Options Under 2017 Scheme | Grantee | Outstanding as of Annual Report Date (shares) | Approximate Percentage of Total Issued Shares (Annual Report Date) | Outstanding as of Announcement Date (shares) | Approximate Percentage of Total Issued Shares (Announcement Date) | | :--- | :--- | :--- | :--- | :--- | | Employees | 5,970,317 | 0.78% | 4,883,320 | 0.65% | | Service Providers | 804,900 | 0.11% | 733,900 | 0.10% | | Total | 6,775,217 | 0.89% | 5,617,220 | 0.75% | - As of the announcement date, the total outstanding share options under the 2017 Scheme decreased from **6,775,217** (0.89% of issued shares) on the annual report date to **5,617,220** (0.75% of issued shares)[4](index=4&type=chunk) - The 2017 Scheme commenced in January 2018 with a ten-year validity period, having approximately **three years** remaining as of the end of the reporting period[5](index=5&type=chunk) [Restricted Share Unit Scheme](index=2&type=section&id=Restricted%20Share%20Unit%20Scheme) The Restricted Share Unit Scheme had no outstanding units as of both dates and was resolved to be terminated early by the board due to all shares being vested Outstanding Restricted Share Units | Grantee | Outstanding as of Annual Report Date | Approximate Percentage of Total Issued Shares (Annual Report Date) | Outstanding as of Announcement Date | Approximate Percentage of Total Issued Shares (Announcement Date) | | :--- | :--- | :--- | :--- | :--- | | Zhou Teng | Nil | Nil | N/A | N/A | - As of both the annual report date and the announcement date, there were **no outstanding restricted share units** under Zhou Teng's name[6](index=6&type=chunk) - The Restricted Share Unit Scheme commenced in June 2021 with a ten-year validity period, having approximately **six years** remaining as of the end of the reporting period[7](index=7&type=chunk) - The Board resolved on **August 18, 2025**, to early terminate the Restricted Share Unit Scheme, as all relevant shares have been duly vested and the trustee holds no funds or property[7](index=7&type=chunk) [2023 Share Award Scheme](index=3&type=section&id=2023%20Share%20Award%20Scheme) The 2023 Share Award Scheme has a total cap of 8% of issued share capital, with 60,820,600 shares purchased by the trustee but none yet awarded - The total number of share awards under the 2023 Scheme is capped at **8%** of the company's issued share capital as of the adoption date (approximately **7.99%** as of the annual report date)[8](index=8&type=chunk) Share Purchases Under 2023 Scheme | Date | Total Shares Purchased (shares) | Approximate Percentage of Issued Share Capital (excluding treasury shares) | | :--- | :--- | :--- | | Annual Report Date | 42,297,400 | 5.56% | | Announcement Date | 60,820,600 | 8.10% | - As of the announcement date, the company has **not yet awarded any shares** under this scheme[8](index=8&type=chunk) - The 2023 Share Award Scheme commenced in August 2023 with a ten-year validity period, having approximately **eight years** remaining as of the end of the reporting period[9](index=9&type=chunk) [Other Information](index=3&type=section&id=Other%20Information) This section provides additional information, including the composition of the Board of Directors [Board of Directors Composition](index=3&type=section&id=Board%20of%20Directors%20Composition) The announcement is signed by Mr. Ma Xuguang, Chairman and Executive Director, and details the board's composition as of the announcement date - The announcement is signed by **Mr. Ma Xuguang**, Chairman and Executive Director of the Board[10](index=10&type=chunk) - As of the announcement date, the Board members include Executive Directors **Mr. Ma Xuguang** and **Mr. Li Ji**; Non-executive Director **Mr. Yao Leiwen**; and Independent Non-executive Directors **Mr. Fan Xin**, **Mr. He Haijian**, and **Ms. Huang Bei**[11](index=11&type=chunk)

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 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 之 任 何 損 失 承 擔 任 何 責 任。 新銳醫藥國際控股有限公司 主席兼執行董事 二 零 二 四 年 年 報－ 補充資料 茲 提 述 新 銳 醫 藥 國 際 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」） 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 的 年 報（「二零二四年年報」）。本 公 告 所 用 詞 彙 與 二 零 二 四 年 年 報 所 界 定 者 具 有 相 同 涵 義。 二 零 二 四 年 年 報 披 露，本 集 團 按 公 平 值 計 入 損 益 列 賬 之 金 融 資 產 包 括 於 嵊 州 新 銳 萬 馬 之 投 資，其 公 平 值 佔 本 集 團 於 二 零 二 四 年 十 二 月 三 十 一 日 的 經 審 核 總資產約5.9%。本 公 司 謹 ...

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。 China Tower Corporation Limited 中國鐵塔股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份編號：0788） 2025年首三季度未經審核的主要運營數據 ❖ 營業收入為人民幣743.19億元，同比增長2.6%；其中： 中國鐵塔股份有限公司（「本公司」或「公司」）董事會（「董事會」）宣佈本公司截至 2025年9月30日止期間若干主要的未經審核合併財務數據與業務數據。 1 • 運營商業務收入為人民幣634.32億元，同比增長0.5%；其中，塔類業 務收入為人民幣565.09億元，同比下降0.7%；室內分佈式天線系統 （「室分」）業務收入為人民幣69.23億元，同比增長11.3% • 智聯業務收入為人民幣70.93億元，同比增長16.8% • 能源業務收入為人民幣34.24億元，同比增長11.5% ❖ EBITDA為人民幣509.59億元，同比增長2.5% ❖ 歸屬於 ...

[Report Overview](index=1&type=section&id=%E5%A0%B1%E5%91%8A%E6%A6%82%E8%A7%88) This section covers the unaudited third-quarter report's disclaimers, basic information, and the Board and management's assurance of its accuracy [Disclaimer and Basic Information](index=1&type=section&id=%E5%85%8D%E8%B2%AC%E8%81%B2%E6%98%8E%E8%88%87%E5%9F%BA%E6%9C%AC%E4%BF%A1%E6%81%AF) This unaudited third-quarter report for the nine months ended September 30, 2025, is prepared by Fuyao Glass under PRC accounting standards, with HKEX disclaiming responsibility for its accuracy - The report is issued by Fuyao Glass Industry Group Co., Ltd., covering financial information for the third quarter and nine months ended September 30, **2025**[2](index=2&type=chunk)[3](index=3&type=chunk) - The financial report is prepared in accordance with PRC Accounting Standards and is unaudited[3](index=3&type=chunk) - The Hong Kong Stock Exchange takes no responsibility for the content of this announcement and does not guarantee its accuracy or completeness[1](index=1&type=chunk) [Board of Directors and Management Statement](index=2&type=section&id=%E8%91%A3%E4%BA%8B%E5%B1%80%E5%8F%8A%E7%AE%A1%E7%90%86%E5%B1%A4%E8%81%B2%E6%98%8E) The Board of Directors, directors, and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility for its content - The Board of Directors and senior management guarantee the truthfulness, accuracy, and completeness of the report's content and assume legal responsibility[4](index=4&type=chunk) - The third-quarter financial statements are unaudited[5](index=5&type=chunk) [Key Financial Data](index=3&type=section&id=%E4%B8%80.%20%E4%B8%BB%E8%A6%81%E8%B2%A1%E5%8B%99%E6%95%B8%E6%93%9A) This section presents the company's key financial data for the nine months ended September 30, 2025, including accounting metrics, non-recurring items, and analysis of changes [Key Accounting Data and Financial Indicators](index=3&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E6%95%B8%E6%93%9A%E5%92%8C%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99) For the nine months ended September 30, 2025, revenue reached **33.30 billion Yuan**, up **17.62%**, with net profit attributable to shareholders at **7.06 billion Yuan**, up **28.93%** Key Financial Data for Q1-Q3 2025 | Indicator | Current Period (3 months) (Yuan) | YoY Change (%) | Year-to-Date (9 months) (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 11,854,516,214 | 18.86 | 33,301,907,930 | 17.62 | | Total Profit | 2,782,814,433 | 18.98 | 8,577,135,182 | 32.69 | | Net Profit Attributable to Shareholders | 2,259,142,444 | 14.09 | 7,063,854,155 | 28.93 | | Net Profit Attributable to Shareholders Excluding Non-recurring Items | 2,214,951,522 | 12.19 | 6,921,634,077 | 24.70 | | Net Cash Flow from Operating Activities | N/A | N/A | 9,884,629,654 | 57.29 | | Basic EPS (Yuan/share) | 0.87 | 14.47 | 2.71 | 29.05 | | Diluted EPS (Yuan/share) | 0.87 | 14.47 | 2.71 | 29.05 | | Weighted Average ROE (%) | 6.17 | 增加0.07 percentage points | 19.35 | 增加2.35 percentage points | Key Balance Sheet Data | Indicator | As of Sep 30, 2025 (Yuan) | As of Dec 31, 2024 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 70,641,939,363 | 63,254,182,536 | 11.68 | | Total Equity Attributable to Shareholders | 35,473,992,872 | 35,694,366,243 | -0.62 | [Non-recurring Gains and Losses Items and Amounts](index=4&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E9%9D%9E%E7%B6%93%E5%B8%B8%E6%80%A7%E6%90%8D%E7%9B%8A%E9%A0%85%E7%9B%AE%E5%92%8C%E9%87%91%E9%A1%8D) For the nine months ended September 30, 2025, total non-recurring gains and losses amounted to **142 million Yuan**, primarily from government subsidies of **133 million Yuan** Non-recurring Gains and Losses Items for Q1-Q3 2025 | Non-recurring Item | Current Period Amount (Yuan) | Year-to-Date Amount (Yuan) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -6,939,952 | -3,129,401 | | Government Subsidies Recognized in Current Profit/Loss | 38,058,112 | 133,130,375 | | Gains/Losses from Changes in Fair Value and Disposal of Financial Assets and Liabilities | 4,232,300 | 4,439,216 | | Reversal of Impairment Provisions for Receivables | 21,329 | 21,329 | | Other Non-operating Income and Expenses | 12,400,035 | 30,704,593 | | Less: Income Tax Impact | 3,549,091 | 22,497,208 | | Minority Interests Impact (After Tax) | 31,811 | 448,826 | | **Total** | **44,190,922** | **142,220,078** | [Analysis of Changes in Key Accounting Data and Financial Indicators](index=5&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E4%B8%BB%E8%A6%81%E6%9C%83%E8%A8%88%E6%95%B8%E6%93%9A%E3%80%81%E8%B2%A1%E5%8B%99%E6%8C%87%E6%A8%99%E7%99%BC%E7%94%9F%E8%AE%8A%E5%8B%95%E7%9A%84%E6%83%85%E6%B3%81%E3%80%81%E5%8E%9F%E5%9B%A0) For the nine months ended September 30, 2025, total profit increased by **32.69%** due to enhanced marketing, higher value-added products, efficiency gains, and exchange gains - Year-to-date total profit increased by **32.69%**, primarily driven by intensified marketing efforts, a higher proportion of high value-added products, improved quality and efficiency, and increased exchange gains[12](index=12&type=chunk) - Year-to-date net cash flow from operating activities increased by **57.29%**, mainly due to higher revenue and profit[12](index=12&type=chunk) [Shareholder Information](index=6&type=section&id=%E4%BA%8C.%20%E8%82%A1%E6%9D%B1%E6%83%85%E6%B3%81) This section details the company's shareholder structure, including the total number of ordinary shareholders and the holdings of the top ten shareholders [Total Number of Ordinary Shareholders and Top Ten Shareholders' Holdings](index=6&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E6%9D%B1%E7%B8%BD%E6%95%B8%E5%92%8C%E8%A1%A8%E6%B1%BA%E6%AC%8A%E6%81%A2%E5%BE%A9%E7%9A%84%E5%84%AA%E5%85%88%E8%82%A1%E8%82%A1%E6%9D%B1%E6%95%B8%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E6%9D%B1%E6%8C%81%E8%82%A1%E6%83%85%E6%B3%81%E8%A1%A8) As of September 30, 2025, the company had **85,733** ordinary shareholders, with HKSCC NOMINEES LIMITED, Hong Kong Securities Clearing Company Limited, and San Yi Development Co., Ltd. being among the top holders - As of September 30, **2025**, the company's total number of ordinary shareholders was **85,733**[14](index=14&type=chunk)[15](index=15&type=chunk) Top 10 Ordinary Shareholders' Holdings (As of Sep 30, 2025) | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Shareholding (%) | | :--- | :--- | :--- | :--- | | HKSCC NOMINEES LIMITED | Unknown | 595,735,494 | 22.83 | | 香港中央結算有限公司 | Unknown | 397,836,786 | 15.24 | | 三益發展有限公司 | Overseas Legal Person | 390,578,816 | 14.97 | | 河仁慈善基金會 | Domestic Non-state Legal Person | 169,512,888 | 6.50 | | 白永麗 | Unknown | 39,499,815 | 1.51 | | 中國證券金融股份有限公司 | Unknown | 28,095,485 | 1.08 | | 中國工商銀行股份有限公司－華泰柏瑞滬深300交易型開放式指數證券投資基金 | Unknown | 27,247,572 | 1.04 | | 李海清 | Unknown | 26,644,587 | 1.02 | | 李福清 | Unknown | 24,291,709 | 0.93 | | 福建省耀華工業村開發有限公司 | Domestic Non-state Legal Person | 24,077,800 | 0.92 | - San Yi Development Co., Ltd. and Fujian Yaohua Industrial Village Development Co., Ltd. are controlled by the same entity[17](index=17&type=chunk)[18](index=18&type=chunk) [Quarterly Financial Statements](index=8&type=section&id=%E4%B8%89.%20%E5%AD%A3%E5%BA%A6%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section provides the consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements [Consolidated Financial Statements](index=8&type=section&id=%E5%90%88%E4%BD%B5%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section presents the consolidated financial statements of Fuyao Glass Industry Group Co., Ltd. and its subsidiaries, reflecting the group's overall financial performance - Consolidated financial statements include the consolidated balance sheet, consolidated income statement, and consolidated cash flow statement, reflecting the group's overall financial performance[19](index=19&type=chunk)[25](index=25&type=chunk)[34](index=34&type=chunk) [Consolidated Balance Sheet](index=8&type=section&id=%E5%90%88%E4%BD%B5%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of September 30, 2025, total consolidated assets were **70.64 billion Yuan**, up **11.68%** from year-end 2024, with total liabilities increasing **27.59%** to **35.17 billion Yuan** Consolidated Balance Sheet Major Data (As of Sep 30, 2025) | Item | As of Sep 30, 2025 (Yuan) | As of Dec 31, 2024 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 70,641,939,363 | 63,254,182,536 | 11.68 | | Total Current Assets | 40,880,168,981 | 36,403,083,788 | 12.30 | | Total Non-current Assets | 29,761,770,382 | 26,851,098,748 | 10.84 | | Total Liabilities | 35,172,926,559 | 27,568,613,358 | 27.59 | | Total Current Liabilities | 27,552,743,110 | 17,988,933,782 | 53.16 | | Total Non-current Liabilities | 7,620,183,449 | 9,579,679,576 | -20.46 | | Total Equity Attributable to Parent Company Shareholders | 35,473,992,872 | 35,694,366,243 | -0.62 | - Short-term borrowings increased from **4.59 billion Yuan** to **6.39 billion Yuan**, notes payable from **3.01 billion Yuan** to **4.49 billion Yuan**, and non-current liabilities due within one year from **2.85 billion Yuan** to **5.71 billion Yuan**, indicating a significant increase in current liabilities[22](index=22&type=chunk)[23](index=23&type=chunk) [Consolidated Income Statement](index=13&type=section&id=%E5%90%88%E4%BD%B5%E5%88%A9%E6%BD%A4%E8%A1%A8) For Q1-Q3 2025, consolidated total operating revenue was **33.30 billion Yuan**, up **17.62%**, with net profit at **7.07 billion Yuan**, up **28.90%**, driven by improved financial expenses Consolidated Income Statement Major Data (Q1-Q3 2025) | Item | Q1-Q3 2025 (Yuan) | Q1-Q3 2024 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 33,301,907,930 | 28,313,511,824 | 17.62 | | Total Operating Costs | 24,958,010,152 | 21,874,454,960 | 14.10 | | Financial Expenses | -922,946,275 | -451,389,919 | -104.47 | | Total Profit | 8,577,135,182 | 6,464,179,868 | 32.69 | | Net Profit | 7,067,671,152 | 5,483,021,139 | 28.90 | | Net Profit Attributable to Parent Company Shareholders | 7,063,854,155 | 5,478,784,237 | 28.93 | | Basic EPS (Yuan/share) | 2.71 | 2.10 | 29.05 | - Financial expenses were **-923 million Yuan**, a further improvement from **-451 million Yuan** in the prior year period, mainly due to interest income and exchange gains[29](index=29&type=chunk) - Investment income was **-2.77 million Yuan**, a significant reduction in loss compared to **-222 million Yuan** in the prior year period[29](index=29&type=chunk) [Consolidated Cash Flow Statement](index=18&type=section&id=%E5%90%88%E4%BD%B5%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For Q1-Q3 2025, consolidated net cash flow from operating activities significantly increased by **57.29%** to **9.88 billion Yuan**, with cash and cash equivalents at period end reaching **21.83 billion Yuan** Consolidated Cash Flow Statement Major Data (Q1-Q3 2025) | Item | Q1-Q3 2025 (Yuan) | Q1-Q3 2024 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 9,884,629,654 | 6,284,478,745 | 57.29 | | Net Cash Flow from Investing Activities | -4,451,657,212 | -5,611,464,664 | 20.67 (Decrease in outflow) | | Net Cash Flow from Financing Activities | -2,236,351,625 | -1,403,562,681 | -59.37 (Increase in outflow) | | Net Increase in Cash and Cash Equivalents | 3,097,648,628 | -890,908,688 | 447.66 | | Cash and Cash Equivalents at Period End | 21,831,423,004 | 12,460,340,950 | 75.21 | - Cash received from sales of goods and provision of services increased by **19.92%** to **33.62 billion Yuan**[35](index=35&type=chunk) - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets increased by **22.36%** to **4.54 billion Yuan**, indicating continued capital investment by the company[38](index=38&type=chunk) [Parent Company Financial Statements](index=22&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section presents the financial statements of Fuyao Glass Industry Group Co., Ltd. (parent company only), reflecting its standalone financial position and performance - Parent company financial statements include the parent company balance sheet, parent company income statement, and parent company cash flow statement, reflecting the parent company's standalone financial performance[41](index=41&type=chunk)[47](index=47&type=chunk)[53](index=53&type=chunk) [Parent Company Balance Sheet](index=22&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B3%87%E7%94%A2%E8%B2%A0%E5%82%B5%E8%A1%A8) As of September 30, 2025, parent company total assets grew **11.59%** to **57.96 billion Yuan**, while total liabilities increased **26.43%** to **33.52 billion Yuan** Parent Company Balance Sheet Major Data (As of Sep 30, 2025) | Item | As of Sep 30, 2025 (Yuan) | As of Dec 31, 2024 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 57,964,685,334 | 51,947,545,405 | 11.59 | | Total Current Assets | 41,804,521,740 | 36,704,206,155 | 13.89 | | Total Non-current Assets | 16,160,163,594 | 15,243,339,250 | 6.01 | | Total Liabilities | 33,518,166,565 | 26,511,355,434 | 26.43 | | Total Current Liabilities | 30,406,261,655 | 20,193,889,852 | 50.57 | | Total Non-current Liabilities | 3,111,904,910 | 6,317,465,582 | -50.74 | | Total Equity | 24,446,518,769 | 25,436,189,971 | -3.90 | - Parent company other payables increased from **14.57 billion Yuan** to **19.93 billion Yuan**, and non-current liabilities due within one year increased from **2.41 billion Yuan** to **5.24 billion Yuan**, leading to a significant increase in current liabilities[45](index=45&type=chunk) - Long-term borrowings decreased from **6.03 billion Yuan** to **2.67 billion Yuan**, resulting in a significant decrease in non-current liabilities[45](index=45&type=chunk) [Parent Company Income Statement](index=26&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%BD%A4%E8%A1%A8) For Q1-Q3 2025, parent company operating revenue was **5.42 billion Yuan**, up **9.13%**, with net profit increasing **34.91%** to **6.06 billion Yuan**, primarily driven by investment income Parent Company Income Statement Major Data (Q1-Q3 2025) | Item | Q1-Q3 2025 (Yuan) | Q1-Q3 2024 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 5,417,565,416 | 4,964,574,157 | 9.13 | | Operating Profit | 6,181,417,999 | 4,507,078,263 | 37.15 | | Total Profit | 6,184,544,004 | 4,509,007,775 | 37.16 | | Net Profit | 6,056,636,335 | 4,489,518,064 | 34.91 | | Investment Income | 6,348,841,017 | 4,482,254,475 | 41.64 | - Investment income significantly increased by **41.64%** to **6.35 billion Yuan**, serving as the primary driver for the parent company's net profit growth[48](index=48&type=chunk) - Financial expenses were **-213 million Yuan**, a slight narrowing from **-307 million Yuan** in the prior year period, mainly due to interest income[48](index=48&type=chunk) [Parent Company Cash Flow Statement](index=29&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) For Q1-Q3 2025, parent company net cash flow from operating activities significantly improved to **-70 million Yuan**, with net cash flow from investing activities substantially increasing by **79.07%** to **5.94 billion Yuan** Parent Company Cash Flow Statement Major Data (Q1-Q3 2025) | Item | Q1-Q3 2025 (Yuan) | Q1-Q3 2024 (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -70,082,108 | -1,272,017,406 | 94.49 (Significant decrease in outflow) | | Net Cash Flow from Investing Activities | 5,941,906,111 | 3,318,329,106 | 79.07 | | Net Cash Flow from Financing Activities | -3,460,975,456 | -3,384,313,451 | -2.26 (Slight increase in outflow) | | Net Increase in Cash and Cash Equivalents | 2,280,223,113 | -1,424,741,140 | 260.09 | | Cash and Cash Equivalents at Period End | 19,838,333,312 | 11,327,821,506 | 75.14 | - Cash received from other investing activities was **1.08 billion Yuan**, compared to **0** in the prior year period, significantly contributing to investing cash inflows[55](index=55&type=chunk) - Cash paid for other investing activities was **551 million Yuan**, compared to **0** in the prior year period[55](index=55&type=chunk)

超大現代農業（控股）有限公司 (於開曼群島註冊成立之有限公司) (股份代號: 682) 年度報告 2024/2025 目錄 | 公司資料 | 2 | | --- | --- | | 主席報告 | 4 | | 管理層討論與分析 | 6 | | 企業管治報告 | 9 | | 環境、社會及管治報告 | 22 | | 董事及高級行政人員簡介 | 56 | | 董事會報告 | 59 | | 獨立核數師報告 | 71 | | 綜合損益及其他全面收益表 | 76 | | 綜合財務狀況表 | 78 | | 綜合權益變動表 | 80 | | 綜合現金流量表 | 81 | | 綜合財務報表附註 | 83 | | 五年財務概要 | 140 | 公司資料 董事會 執行董事 郭浩先生 （主席） 況巧先生 非執行董事 葉志明先生 獨立非執行董事 馮志堅先生 譚政豪先生 李英女士 審核委員會 譚政豪先生 （主席） 馮志堅先生 李英女士 薪酬委員會 馮志堅先生 （主席） 譚政豪先生 況巧先生 提名委員會 馮志堅先生 （主席） 郭浩先生 況巧先生 譚政豪先生 李英女士 授權代表 郭浩先生 葉志明先生 公司秘書 楊文哲先生 2024 / 202 ...

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佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部 或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 ELATE HOLDINGS LIMITED 誼礫控股有限公司 經本公司和 AGL 以務實、避免曠日持久糾紛的態度進行協商，本公司與 AGL 於二零二五年十月十六日簽訂貨款清償協議，訂約雙方同意將 AGL 已放於本 公司名下並全權保管控制的全數抵押品來清償貨款，雙方並承諾今後繼續以友 好互利的方式買賣石墨礦產品。 茲提述誼礫控股有限公司（「本公司」）於二零二四年年報、二零二五年中期 報告和二零二五年十月十五日刊載之公告（合稱「該些披露」）內披露有關本 公司向 Aspect Group Limited （「AGL」）出售庫存剩餘之石墨礦石。除非本公 告另有界定，否則本公告所用詞彙與該些披露所界定者具有相同涵義。 根據該些披露，本公司於二零二四年十二月向 AGL 出售庫存剩餘之 32,863,966 噸石墨礦石。根據石墨礦石銷售協議 AGL 須於二零二五年九月三十日前分期 付清 296,433,000 美元 ...

(Incorporated in the Cayman Islands with limited liability) 2025 2025 年 報 年 報 Stock Code : 1130 ANNUAL REPORT 2025 ANNUAL REPORT Annual Report 2025 Contents 目錄 02 Corporate information 公司資料 04 Management discussion and analysis 管理層討論及分析 33 Biographical details of directors 董事簡歷 37 Report of the directors 董事會報告書 52 Corporate governance report 企業管治報告 74 Independent auditor's report 獨立核數師報告 79 Consolidated statement of profit or loss and other comprehensive income 綜合損益及其他全面收益表 81 Consolidated statement of fina ...

[Company Announcement and Disclaimer](index=1&type=section&id=Company%20Announcement%20and%20Disclaimer) This section presents the company's unaudited financial data announcement and associated disclaimers [Announcement Statement](index=1&type=section&id=Announcement%20Statement) Namyue Holdings Limited announces unaudited financial data for the nine months ended September 30, 2025 - Company name: **Namyue Holdings Limited** (Stock Code: **01058**)[2](index=2&type=chunk) - Announcement content: Disclosure of unaudited financial information for the nine months ended September 30, 2025[2](index=2&type=chunk)[3](index=3&type=chunk) [Disclaimer](index=1&type=section&id=Disclaimer) HKEX and SEHK disclaim responsibility for this announcement's content and any losses from reliance - HKEX and SEHK are not responsible for, make no statement on, and accept no liability for this announcement's content[1](index=1&type=chunk) [Financial Summary and Notes](index=1&type=section&id=Financial%20Summary%20and%20Notes) This section provides key financial data for the nine months ended September 30, 2025, and related disclosure notes [Key Financial Data](index=1&type=section&id=Key%20Financial%20Data) Revenue decreased by 15.1% for the nine months ended September 30, 2025, while consolidated loss significantly narrowed Key Financial Metrics | Metric | Nine Months Ended Sep 30, 2025 (HKD '000) | Nine Months Ended Sep 30, 2024 (HKD '000) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 54,521 | 64,193 | -15.1 | | Consolidated Loss Attributable to Company Shareholders | (6,916) | (11,349) | +39.1 | | Metric | As of Sep 30, 2025 (HKD '000) | As of Dec 31, 2024 (HKD '000) | | :--- | :--- | :--- | | Total Assets | 92,810 | 97,154 | | Shareholders' Equity | 13,202 | 19,061 | [Notes to Financial Information](index=2&type=section&id=Notes%20to%20Financial%20Information) This announcement's unaudited financial data is voluntarily disclosed to enhance corporate governance and transparency - The financial information in this announcement has not been audited or reviewed by the company's auditor[8](index=8&type=chunk) - The consolidated financial statements for the year ended December 31, 2024, were filed with the Registrar of Companies, with an unqualified auditor's report[5](index=5&type=chunk) - This announcement is a voluntary disclosure by the company to enhance corporate governance and transparency[5](index=5&type=chunk) [Operating Performance Summary](index=2&type=section&id=Operating%20Performance%20Summary) This section summarizes the group's operating strategies, production and sales volumes, and revenue and loss analysis [Operating Strategies and Achievements](index=2&type=section&id=Operating%20Strategies%20and%20Achievements) The Group improved operating performance by strengthening client cooperation, increasing output, and enhancing cost control - Actively responded to a complex macro environment, solidified and deepened client cooperation, and increased processing output[6](index=6&type=chunk) - Promoted equipment upgrades to optimize production conditions and product quality, continuously deepening internal reforms[6](index=6&type=chunk) - Strengthened cost control, implemented energy-saving and consumption-reducing measures, improved accounts receivable management, and cleared long-standing accounts to reduce operating costs[6](index=6&type=chunk) [Product Production and Sales Volume Analysis](index=2&type=section&id=Product%20Production%20and%20Sales%20Volume%20Analysis) Outsourced processing volume grew significantly, while cowhide production and sales declined for the nine months ended September 30, 2025 Product Production and Sales Volumes | Product Category | Nine Months Ended Sep 30, 2025 (sq ft/tons) | Nine Months Ended Sep 30, 2024 (sq ft/tons) | Change (%) | | :--- | :--- | :--- | :--- | | **Production Volume** | | | | | Outsourced Processing Business | 23,399,000 sq ft | 12,116,000 sq ft | +93.1 | | Cowhide | 1,199,000 sq ft | 2,472,000 sq ft | -51.5 | | Wet Blue | No production | 497 tons | -100.0 | | **Sales Volume** | | | | | Outsourced Processing Business | 23,399,000 sq ft | 12,116,000 sq ft | +93.1 | | Cowhide | 2,967,000 sq ft | 3,789,000 sq ft | -21.7 | | Wet Blue | No sales | 497 tons | -100.0 | [Revenue and Loss Analysis](index=3&type=section&id=Revenue%20and%20Loss%20Analysis) Total revenue decreased by 15.1% for the nine months ended September 30, 2025, with outsourced processing up and cowhide sales down Revenue and Loss by Source | Revenue Source | Nine Months Ended Sep 30, 2025 (HKD '000) | Nine Months Ended Sep 30, 2024 (HKD '000) | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 54,521 | 64,193 | -15.1 | | Outsourced Processing Business | 32,521 | 24,520 | +32.6 | | Cowhide Sales | 22,000 | 37,046 | -40.6 | | Wet Blue Sales | 0 | 2,627 | -100.0 | | Consolidated Loss Attributable to Company Shareholders | (6,916) | (11,349) | +39.1 | [Important Notice and Corporate Governance](index=3&type=section&id=Important%20Notice%20and%20Corporate%20Governance) This section provides a cautionary statement on unaudited financial data and details the Board of Directors' composition [Cautionary Statement](index=3&type=section&id=Cautionary%20Statement) Investors are advised to exercise caution when trading company securities, as financial data is unaudited - The financial information in this announcement has not been reviewed or audited by an independent auditor[10](index=10&type=chunk) - It should not be regarded as an indication or guarantee of the Group's financial performance[10](index=10&type=chunk) - Shareholders and potential investors are urged to exercise caution when dealing in the company's securities and to seek professional advice[10](index=10&type=chunk) [Board Composition](index=3&type=section&id=Board%20Composition) The Board comprises two executive, three non-executive, and three independent non-executive directors as of the announcement date - Executive Directors: Mr. Cai Binglong (Chairman and Managing Director) and Mr. Liao Siyang[10](index=10&type=chunk) - Non-executive Directors: Mr. Huang Junfeng, Mr. Kuang Hu, and Ms. Li Jieyu[10](index=10&type=chunk) - Independent Non-executive Directors: Mr. Yang Wanli, Mr. Liang Lianchang, and Mr. Yang Ge[10](index=10&type=chunk)