[Financial Highlights](index=7&type=section&id=Financial%20highlights) The Group reported robust financial recovery in FY2025, marked by double-digit growth in revenue, gross profit, and adjusted profit attributable to owners [Financial Performance Highlights](index=7&type=section&id=Financial%20highlights) In FY2025, the Group achieved robust recovery with revenue up 11.7% and gross profit up 15.7%; profit attributable to owners surged 28.4%, with adjusted profit up 27.1%, and basic EPS increased to HKD 0.15, with a proposed final dividend of HKD 0.043 per share, totaling HKD 0.068 for the full year Key Financial Data Comparison for FY2025 | Metric | FY2025 (HKD thousands) | FY2024 (HKD thousands) | YoY Change | | :--- | :--- | :--- | :--- | | **Revenue** | 7,840,043 | 7,016,802 | 11.7% | | **Gross Profit** | 1,832,567 | 1,583,567 | 15.7% | | **Gross Margin** | 23.4% | 22.6% | +0.8pp | | **Profit Attributable to Owners** | 183,891 | 143,175 | 28.4% | | **Adjusted Profit Attributable to Owners*** | 402,351 | 316,471 | 27.1% | | **EBITDA** | 1,057,835 | 1,011,975 | 4.5% | | **Adjusted EBITDA*** | 1,276,295 | 1,185,271 | 7.7% | | **Basic Earnings Per Share (HKD)** | 0.15 | 0.117 | +28.2% | | **Dividend Per Share (HKD)** | 0.068 | 0.057 | +19.3% | - Adjusted profit and adjusted EBITDA figures exclude special restructuring costs incurred due to the relocation of production facilities[23](index=23&type=chunk) [Chairman's Statement](index=8&type=section&id=Chairman%27s%20statement) The Chairman's statement highlights the Group's strategic resilience, achieving growth amidst economic uncertainty through core business focus, innovation, and a commitment to sustainability [Strategic Review and Outlook](index=9&type=section&id=Chairman%27s%20statement%20summary) Despite global economic uncertainties, the Group achieved low double-digit revenue growth in FY2025 through its IDM model and 'focus on core business' strategy, while actively pursuing cost efficiency, financial optimization, and leveraging proprietary Bonding technology for differentiated products, alongside market diversification and strong ESG commitments towards net-zero by 2050 - Leveraging its 'focus on core business and strengthening main operations' strategy, the Group's revenue in FY2025 continued the recovery trend from late FY2024, achieving **low double-digit growth**[29](index=29&type=chunk)[31](index=31&type=chunk) - The company has initiated cost reduction and efficiency enhancement measures, with effects expected to gradually materialize in FY2026, and plans to progressively reduce debt to a reasonable level within the next 2-3 years by strictly controlling capital expenditure[33](index=33&type=chunk)[34](index=34&type=chunk) - Proprietary Bonding process technology, developed in-house, became a core growth driver, leading to **significant revenue growth** in the functional apparel business in FY2025[36](index=36&type=chunk)[37](index=37&type=chunk) - To counter tariff measures initiated by major economies, the Group has engaged in discussions and reached consensus with key brand partners, expecting limited impact on revenue, while accelerating expansion into diversified markets such as China, Europe, and Japan[38](index=38&type=chunk)[40](index=40&type=chunk) [Management Discussion and Analysis](index=14&type=section&id=Management%20discussion%20and%20analysis) This section provides an in-depth analysis of the Group's market performance, business segment results, operating financials, and strategic outlook for future growth and resilience [Market Review](index=15&type=section&id=Market%20Review) In FY2025, despite global economic volatility, the Group achieved stable revenue growth by leveraging its IDM model, technological innovation, and synergistic production capabilities in China and Vietnam, while its joint venture "Victoria's Secret China" demonstrated robust, industry-outperforming growth - Despite global economic volatility and weakened demand, the Group achieved **stable full-year revenue growth** through proactive strategic adjustments and business structure optimization[49](index=49&type=chunk)[52](index=52&type=chunk) - The Group effectively balanced regional market risks by having its Vietnam production base handle global orders and its China capacity focus on the domestic market[50](index=50&type=chunk) - The joint venture 'Victoria's Secret China' continued to achieve **robust, industry-outperforming growth** by leveraging brand value and differentiated product advantages, validating the success of its localization strategy[51](index=51&type=chunk)[52](index=52&type=chunk) [Business Review](index=16&type=section&id=Business%20Review) In FY2025, the Group's total revenue grew 11.7% to HKD 7.84 billion, with net profit up 28.4% to HKD 184 million, driven by strong performance in sports products and consumer electronics accessories, while production optimization saw Vietnam contribute 85% of total revenue Revenue and Gross Profit Performance by Business Segment (FY2025) | Business Segment | Revenue (HKD millions) | YoY Change | Revenue Share | Gross Profit (HKD millions) | Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | | **Intimate Wear** | 4,243.4 | +3.0% | 54.2% | 1,047.2 | 24.7% | | **Sports Products** | 2,934.1 | +26.9% | 37.4% | 652.8 | 22.3% | | **Consumer Electronics Accessories** | 408.9 | +43.2% | 5.2% | 79.1 | 19.4% | | **Bra Cups and Other Accessories** | 253.6 | -15.0% | 3.2% | 53.4 | 21.1% | | **Total** | **7,840.0** | **+11.7%** | **100.0%** | **1,832.6** | **23.4%** | - The strong growth in the Sports Products segment was primarily driven by **double-digit growth** in the sports bra business and differentiated functional apparel products developed using proprietary Bonding technology[69](index=69&type=chunk)[76](index=76&type=chunk) - Production layout continues to optimize, with the Shenzhen production base fully relocated to Zhaoqing in October 2024, and the Vietnam production base contributing **85%** of the Group's total revenue[83](index=83&type=chunk)[84](index=84&type=chunk) [The Group's Operating Results Analysis](index=20&type=section&id=The%20Group%27s%20Operating%20Results) The Group's total revenue grew 11.7% to HKD 7.84 billion, driven by strong demand in sports products and consumer electronics accessories, with gross margin improving to 23.4% and adjusted net profit increasing 27.1% to HKD 402 million, despite restructuring costs - Cost of sales as a percentage of revenue decreased from **77.4% to 76.6%**, primarily due to improved production efficiency, partially offset by initial ramp-up costs at the Zhaoqing factory[95](index=95&type=chunk)[97](index=97&type=chunk) - To optimize its China production layout, the Group relocated its Shenzhen production base to Zhaoqing, incurring special restructuring costs of approximately **HKD 218.5 million** this fiscal year, mainly for employee severance and fixed asset write-offs[108](index=108&type=chunk)[111](index=111&type=chunk) Key Financial Ratios | Metric | FY2025 | FY2024 | | :--- | :--- | :--- | | **Net Gearing Ratio** | 105.2% | 104.7% | | **Adjusted Net Gearing Ratio** | 79.9% | 87.6% | | **Trade Receivables Turnover Days** | 48 days | 45 days | | **Trade Payables Turnover Days** | 25 days | 25 days | - Total capital expenditure was **HKD 430.7 million**, a significant decrease from HKD 688 million in the previous fiscal year, primarily used for acquiring production lines and constructing Zhaoqing production facilities and staff dormitories[135](index=135&type=chunk)[140](index=140&type=chunk) [Future Prospects and Strategies](index=28&type=section&id=Future%20Prospects%20and%20Strategies) For FY2026, the Group will prioritize product differentiation, cost control, efficiency, and debt reduction to enhance profitability and financial resilience, while expanding market diversification and advancing ESG commitments towards net-zero by 2050 - The core strategy is to implement 'cost reduction, efficiency-driven transformation, and debt reduction,' with incremental cash flow from business optimization prioritized for lowering the gearing ratio to optimize capital structure[153](index=153&type=chunk)[155](index=155&type=chunk) - The Group will fully leverage its leading advantage in Bonding process technology, replicating its success from intimate wear and sports into the apparel business to drive growth through innovative products[157](index=157&type=chunk)[159](index=159&type=chunk) - To address macroeconomic challenges, the company will accelerate market diversification, focusing on expanding partnerships in China, Europe, and Japan to reduce reliance on a single market[158](index=158&type=chunk)[160](index=160&type=chunk) - Regarding ESG, the Group has initiated Science Based Targets initiative (SBTi) validation and plans to set scientific carbon reduction targets within the next one to two years, strategizing for **net-zero carbon emissions by 2050**[161](index=161&type=chunk)[164](index=164&type=chunk) [Profile of Directors, Senior Management and Company Secretary](index=31&type=section&id=Profile%20of%20directors%2C%20senior%20management%20and%20company%20secretary) This section provides detailed professional biographies of the company's directors, senior management, and company secretary, highlighting their extensive experience and qualifications [Directors and Senior Management Profiles](index=31&type=section&id=Profile%20of%20directors%2C%20senior%20management%20and%20company%20secretary) This chapter details the personal profiles of the company's executive directors, independent non-executive directors, senior management, and company secretary, covering their age, positions, responsibilities, industry experience, educational backgrounds, and other public company or social organization appointments, comprehensively showcasing the professional background and qualifications of the company's governance and management team - Founder Mr. YY Hung serves as Chairman and Chief Executive Officer, possessing **over 25 years of experience** in the intimate wear manufacturing industry and acting as a key driver of the Group's business strategy[166](index=166&type=chunk)[170](index=170&type=chunk) - Executive directors have served the Group for many years, responsible for finance, R&D, production operations, and sales and marketing, each possessing **profound industry experience**[169](index=169&type=chunk)[172](index=172&type=chunk)[173](index=173&type=chunk)[176](index=176&type=chunk) - The independent non-executive directors team comprises seasoned professionals from the finance, apparel trade, and retail industries, providing **strategic advice and guidance** for the Group's business development[177](index=177&type=chunk)[186](index=186&type=chunk)[190](index=190&type=chunk) [Report of the Directors](index=38&type=section&id=Report%20of%20the%20directors) The Directors' Report summarizes the company's FY2025 activities, performance, and dividend proposals, including details on share capital, key business relationships, and governance compliance [Summary of the Report of the Directors](index=38&type=section&id=Report%20of%20the%20directors) This report outlines the company's key activities, performance, and dividend distribution for FY2025, confirming its primary engagement in investment holding and its subsidiaries' focus on manufacturing and trading intimate wear and related products, with a proposed final dividend of HKD 0.043 per share, detailed disclosures on share capital changes, major customers and suppliers (top five customers accounting for 47.7% of sales), related party transactions, and compliance with listing rules - The Board recommends a final dividend of **HKD 0.043 per share** for the year ended March 31, 2025[204](index=204&type=chunk)[209](index=209&type=chunk) - The share option scheme adopted by the company on September 11, 2015, is nearing expiry, with no options granted since its adoption; the company will propose adopting a new share option scheme at the Annual General Meeting[227](index=227&type=chunk)[232](index=232&type=chunk) - This fiscal year, the Group's top five customers accounted for **47.7%** of total sales, with the largest customer contributing **16.5%**; the top five suppliers accounted for **39.7%** of total purchases[249](index=249&type=chunk)[253](index=253&type=chunk) - The report details several continuing connected transactions, including sales agreements with Joyful Profit Group and Float Limited, and property and plant lease agreements with Sun Cheong, Regina Miracle Technology, and Regina Miracle Investment, confirming all transactions were conducted on fair and reasonable commercial terms[275](index=275&type=chunk)[285](index=285&type=chunk)[292](index=292&type=chunk)[300](index=300&type=chunk) [Corporate Governance Report](index=62&type=section&id=Corporate%20governance%20report) The Corporate Governance Report details the company's adherence to high governance standards, board structure, committee functions, risk management, and shareholder communication practices [Corporate Governance Practices](index=62&type=section&id=Corporate%20governance%20report) The company is committed to maintaining high corporate governance standards, complying with listing rules' code, with the only deviation being the combined roles of Chairman and CEO, which the Board believes enhances decision-making efficiency; the report details board composition, committee operations (Audit, Remuneration, Nomination, ESG, Executive), risk management, internal controls, and mechanisms for shareholder rights and investor communication - The company complies with most provisions of the Corporate Governance Code, with the exception of the Chairman and Chief Executive Officer roles being held by the same individual, Mr. YY Hung, an arrangement the Board believes facilitates more efficient business planning and decision-making[368](index=368&type=chunk)[371](index=371&type=chunk) - The Board comprises five executive directors and three independent non-executive directors, with independent non-executive directors accounting for **over one-third**, meeting listing rule requirements[380](index=380&type=chunk)[386](index=386&type=chunk) - The company has five Board committees: Audit, Remuneration, Nomination, Environmental, Social and Governance (ESG), and Executive, each fulfilling distinct roles to assist the Board in its duties[427](index=427&type=chunk)[431](index=431&type=chunk) - The Board has conducted an annual review of the Group's risk management and internal control systems, deeming them effective and adequate, and has established a **three-lines-of-defense** risk governance framework[469](index=469&type=chunk)[477](index=477&type=chunk)[478](index=478&type=chunk) [Independent Auditor's Report](index=84&type=section&id=Independent%20auditor%27s%20report) The Independent Auditor's Report provides an unqualified opinion on the FY2025 financial statements, highlighting revenue recognition as a key audit matter and detailing the audit procedures performed [Audit Opinion and Key Audit Matters](index=84&type=section&id=Independent%20auditor%27s%20report) PricewaterhouseCoopers issued an unqualified audit opinion on the company's FY2025 consolidated financial statements, deeming them to fairly present the Group's financial position and operating results; 'revenue recognition' was identified as a key audit matter due to its volume and significance, with auditors performing various procedures including internal control assessment, sampling, analytical review, and cutoff tests, expressing satisfaction with the findings - The auditors believe that the consolidated financial statements fairly and accurately reflect the Group's consolidated financial position as at March 31, 2025, and its financial performance and cash flows for the year, in accordance with Hong Kong Financial Reporting Standards[509](index=509&type=chunk)[510](index=510&type=chunk) - 'Revenue recognition' was identified as a key audit matter primarily due to the **high volume of transactions**, numerous customers, dispersed distribution locations, and the material impact of revenue on the financial statements[515](index=515&type=chunk)[523](index=523&type=chunk) - To address revenue recognition risks, auditors performed multiple procedures, including assessing internal controls, sampling customer orders and supporting documents (e.g., invoices, delivery records), conducting analytical reviews, and performing cutoff tests on transactions around the fiscal year-end[525](index=525&type=chunk)[527](index=527&type=chunk) [Consolidated Financial Statements](index=92&type=section&id=Consolidated%20financial%20statements) This section presents the Group's comprehensive financial statements, including the income statement, balance sheet, cash flow statement, and a five-year financial data summary [Consolidated Income Statement](index=92&type=section&id=Consolidated%20Income%20Statement) In FY2025, the Group's revenue was HKD 7.84 billion, up 11.7%, with gross profit at HKD 1.83 billion and gross margin improving to 23.4%; operating profit was HKD 536 million, and profit for the year increased 28.4% to HKD 184 million Consolidated Income Statement Key Data (HKD thousands) | Item | FY2025 | FY2024 | | :--- | :--- | :--- | | **Revenue** | 7,840,043 | 7,016,802 | | **Gross Profit** | 1,832,567 | 1,583,567 | | **Operating Profit** | 535,642 | 453,669 | | **Profit Before Income Tax** | 220,772 | 152,177 | | **Profit for the Year** | 183,891 | 143,175 | [Consolidated Balance Sheet](index=94&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2025, the Group's total assets were HKD 8.89 billion, total liabilities HKD 5.73 billion, and total equity HKD 3.16 billion, with non-current assets primarily property, plant, and equipment, and current assets dominated by inventories and trade receivables Consolidated Balance Sheet Overview (HKD thousands) | Item | March 31, 2025 (HKD thousands) | March 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | **Total Assets** | 8,894,096 | 8,602,750 | | Non-current Assets | 5,400,861 | 5,611,111 | | Current Assets | 3,493,235 | 2,991,639 | | **Total Liabilities** | 5,730,181 | 5,232,275 | | Non-current Liabilities | 3,803,586 | 3,730,404 | | Current Liabilities | 1,926,595 | 1,501,871 | | **Total Equity** | 3,163,915 | 3,370,475 | [Consolidated Statement of Cash Flows](index=97&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) In FY2025, net cash from operating activities significantly increased to HKD 1.19 billion, while net cash used in investing activities was HKD 396 million and in financing activities was HKD 341 million, resulting in a net increase of HKD 457 million in cash and cash equivalents Consolidated Statement of Cash Flows Overview (HKD thousands) | Item | FY2025 (HKD thousands) | FY2024 (HKD thousands) | | :--- | :--- | :--- | | **Net Cash From Operating Activities** | 1,194,851 | 746,975 | | **Net Cash Used in Investing Activities** | (396,313) | (393,314) | | **Net Cash Used in Financing Activities** | (341,048) | (251,558) | | **Net Increase in Cash and Cash Equivalents** | 457,490 | 102,103 | | **Cash and Cash Equivalents at Year-End** | 907,831 | 623,117 | [Five-Year Financial Information Summary](index=186&type=section&id=Financial%20Information%20Summary) This report provides a summary of key financial data for the past five fiscal years (2021-2025), showing a rebound in revenue, gross profit, and profit attributable to owners in FY2025 after a dip in FY2024, with total assets and equity remaining relatively stable Five-Year Financial Performance Summary (HKD thousands) | Fiscal Year | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | 7,840,043 | 7,016,802 | 7,879,287 | 8,346,728 | 5,974,290 | | **Gross Profit** | 1,832,567 | 1,583,567 | 1,902,111 | 2,045,440 | 1,237,953 | | **Profit Attributable to Owners** | 183,891 | 143,175 | 383,258 | 520,694 | 125,515 | | **Total Assets** | 8,894,096 | 8,602,750 | 8,682,290 | 9,419,772 | 8,737,036 | | **Total Equity** | 3,163,915 | 3,370,475 | 3,547,262 | 3,636,257 | 3,070,355 |

[Company Information](index=2&type=section&id=Company%20Information) This section provides essential corporate information, including registration details and contact points [Core Financial and Operational Data](index=6&type=section&id=Core%20Financial%20and%20Operational%20Data) [FY2025 Performance Overview](index=6&type=section&id=FY2025%20Performance%20Overview) In FY2025, the company's total revenue decreased to RMB 715 million, but annual loss significantly narrowed to RMB 135 million, a 38.9% reduction year-on-year, with improved operating efficiency and expanding YiduCore capabilities Financial Performance Summary | Indicator | FY2024 | FY2025 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | RMB 807.1 million | RMB 715.0 million | -11.4% | | **Annual Loss** | RMB 221 million | RMB 135 million | -38.9% | | **Net Cash Flow from Operating Activities** | -RMB 326 million | -RMB 249 million | +23.8% | Revenue by Business Segment | Business Segment | FY2024 Revenue (RMB million) | FY2025 Revenue (RMB million) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Big Data Platform and Solutions | 313.6 | 345.9 | +10.3% | | Life Science Solutions | 324.0 | 247.1 | -23.8% | | Health Management Platform and Solutions | 169.5 | 122.0 | -28.0% | - The company's operating expenses as a percentage of revenue continuously decreased from **105% in FY2023 to 66% in FY2025**, indicating significant improvement in operational efficiency[12](index=12&type=chunk) YiduCore Core Operating Metrics | YiduCore Core Operating Metrics | Data | | :--- | :--- | | Authorized Medical Records Processed | 6 billion+ items | | Patient Visits Covered | 1.15 billion+ | | Professional Training Tokens | 500 billion+ | | Top-tier Hospitals Covered | 110 institutions | | Hospital Network Covered | 4,000+ institutions | | Active Life Science Clients | 132 clients | | Active Health Management Platform Users | Over 24 million people | [Chairman's Statement](index=8&type=section&id=Chairman%27s%20Statement) Chairwoman Gong Yingying emphasized the company's steadfast 'focus' strategy, leveraging its core AI engine YiduCore to deepen AI applications across healthcare, pharmaceuticals, and insurance, significantly narrowing losses despite revenue decline - The company firmly executes its “focus” strategy, building core competitive barriers through a reinforced “data-algorithm-scenario” closed loop[18](index=18&type=chunk) Financial Highlights | Financial Indicator | FY2025 Amount | Year-on-Year Change | | :--- | :--- | :--- | | Total Revenue | RMB 715.0 million | -11.4% | | Annual Loss | RMB 135.2 million | -38.9% (Best in historical comparable period) | | Net Cash Outflow from Operating Activities | Not Applicable | Narrowed by 23.8% year-on-year | - The core engine YiduCore has cumulatively processed **6 billion medical records** for **1.15 billion patient visits** and continues to invest in large model R&D, building full-stack capabilities from underlying computing power to multi-parameter model deployment[19](index=19&type=chunk) - The company focuses on three core areas: **Big Data Platform and Solutions (AI for Medical)**, **Life Science Solutions (AI for Life Science)**, and **Health Management Platform and Solutions (AI for Care)**[21](index=21&type=chunk)[22](index=22&type=chunk)[23](index=23&type=chunk) [Business Review](index=12&type=section&id=Business%20Review) Provides a comprehensive overview of the company's operational performance across its key business segments and strategic initiatives [Financial Highlights](index=12&type=section&id=Financial%20Highlights) For the fiscal year ended March 31, 2025, total revenue was RMB 715 million, a 11.4% decrease, with mixed segment performance, but annual loss significantly narrowed by 38.9% to RMB 135 million Financial Indicators (RMB thousand) | Financial Indicator (RMB thousand) | FY2025 | FY2024 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | **714,979** | **807,076** | **(11.4%)** | | — Big Data Platform and Solutions | 345,888 | 313,634 | 10.3% | | — Life Science Solutions | 247,112 | 324,044 | (23.7%) | | — Health Management Platform and Solutions | 121,979 | 169,398 | (28.0%) | | **Gross Profit** | 239,182 | 339,445 | (29.5%) | | **Operating Loss** | (134,149) | (219,919) | (39.0%) | | **Annual Loss** | (135,223) | (221,242) | (38.9%) | - The Board does not recommend the payment of a final dividend for the fiscal year ended March 31, 2025[28](index=28&type=chunk) [YiduCore Core Technology Platform](index=14&type=section&id=YiduCore%20Core%20Technology%20Platform) YiduCore, the company's 'AI medical brain', serves as the core algorithm engine and technological foundation, with continuous investment in medical vertical large language models and extensive data processing capabilities - YiduCore forms the company's core competitive barrier through a closed loop of “data-driven algorithms, algorithm-empowered scenarios, and scenario-feedback data”[33](index=33&type=chunk) YiduCore Technical Indicators | YiduCore Technical Indicators | Data/Achievements | | :--- | :--- | | Training TOKEN Corpus | 500 billion+ | | Model Parameter Versions | 8B, 13B, 70B, 100B | | Medical Records Processed | 6 billion items (covering 1.15 billion patient visits) | | Disease Knowledge Graph | Basically covers all known diseases | | Specialized Disease Databases | Covers over 90 disease types | | Computing Power Adaptation | First in China's medical field to adapt to full-chain domestic and international high-end chips | | Authoritative Evaluation | Ranked first in the National Health Commission's triage and navigation evaluation | - The AI mid-end platform based on YiduCore has been deployed in **dozens of top-tier Grade A tertiary hospitals** nationwide, and has built an “AI clinical assistant” tool embedded in doctors' diagnostic processes, significantly improving diagnostic efficiency[36](index=36&type=chunk) [Big Data Platform and Solutions (AI for Medical)](index=16&type=section&id=Big%20Data%20Platform%20and%20Solutions%20%28AI%20for%20Medical%29) This segment provides data intelligence platforms and solutions to hospitals and regulatory bodies, achieving **RMB 345.9 million in revenue**, a **10.3% year-on-year increase**, with core product upgrades and widespread AI mid-end deployment Key Metrics | Indicator | Data | | :--- | :--- | | Revenue for the Reporting Period | RMB 345.9 million | | Year-on-Year Growth | 10.3% | | Top-tier Hospital Clients | 110 institutions | | Regulatory Agency Clients | 44 institutions | - Core products have been fully upgraded, with **AI Mid-end 2.0** deployed in **over 30 Grade A tertiary hospitals** within three months of its launch, which can reduce medical record writing time from 5 minutes to 30 seconds[37](index=37&type=chunk) - The company collaborated with top experts (e.g., Academician Teng Gaojun's team) to jointly launch China's first intelligent agent for liver cancer diagnosis and treatment, realizing the digitalization and widespread accessibility of top expert diagnostic capabilities[38](index=38&type=chunk) [Life Science Solutions (AI for Life Science)](index=18&type=section&id=Life%20Science%20Solutions%20%28AI%20for%20Life%20Science%29) This segment provides intelligent support for the entire drug and medical device R&D lifecycle, with **RMB 247.1 million in revenue**, a **23.7% year-on-year decrease**, but **gross margin improved by 1.4 percentage points to 33.5%** Key Metrics | Indicator | Data | | :--- | :--- | | Revenue for the Reporting Period | RMB 247.1 million | | Year-on-Year Change | -23.7% | | Gross Margin | 33.5% (up 1.4 percentage points year-on-year) | | Top 20 Client Revenue Retention Rate | 87.51% | | Multinational Pharmaceutical Client Coverage | Serves 16 of the global Top 20 | - The self-developed i-series solution matrix covers clinical development, research design, and commercialization prediction, driving “cost reduction, speed-up, and quality improvement” in drug R&D[40](index=40&type=chunk) - Significant progress was made in oncology and ophthalmology, winning multiple Phase III clinical trial projects, including an ophthalmology project exceeding **RMB 50 million**[43](index=43&type=chunk)[44](index=44&type=chunk) [Health Management Platform and Solutions (AI for Care)](index=19&type=section&id=Health%20Management%20Platform%20and%20Solutions%20%28AI%20for%20Care%29) This segment offers AI-powered health management solutions, generating **RMB 122.0 million in revenue**, a **28.0% year-on-year decrease**, primarily due to product mix changes, while consolidating 'Huiminbao' business and expanding active user base Key Metrics | Indicator | Data | | :--- | :--- | | Revenue for the Reporting Period | RMB 122.0 million | | Year-on-Year Change | -28.0% | - Core business involves “Huiminbao” project operations, with continuous operation of “Shenzhen Huiminbao” for three consecutive years (**6.09 million participants in 2024**) and “Beijing Huiminbao” for four consecutive years (**over 15 million cumulative participants**)[46](index=46&type=chunk) - AI technology empowers insurance operations, improving claims processing efficiency by **50%-70%** compared to traditional methods, with **over 85% of customer service tasks handled by AI intelligent customer service**[47](index=47&type=chunk) - As of March 31, 2025, the number of active users who completed at least one transaction on the health management platform exceeded **24 million**[50](index=50&type=chunk) [Business Outlook](index=21&type=section&id=Business%20Outlook) The company's future strategy focuses on four key directions: continuous investment in YiduCore, deepening research in core diseases, enhancing customer experience through AI, and enriching the ecosystem via strategic collaborations - Big Data Platform and Solutions will strengthen the “one horizontal, one vertical” strategy, horizontally expanding hospital networks and application scenarios, and vertically deepening research in key disease areas[52](index=52&type=chunk) - Life Science Solutions will continue to iterate i-series intelligent solutions, focusing on the generation and application of Real-World Evidence (RWE), and expanding its high-quality customer base[53](index=53&type=chunk) - Health Management Platform and Solutions will increase active users through diversified channels and explore new models for AI-powered health management services[53](index=53&type=chunk) [Management Discussion and Analysis](index=23&type=section&id=Management%20Discussion%20and%20Analysis) Provides management's perspective on the company's financial performance, liquidity, and capital resources, highlighting key drivers and trends [Financial Performance Analysis](index=23&type=section&id=Financial%20Performance%20Analysis) In FY2025, total revenue decreased by **11.4% to RMB 715 million**, primarily due to declines in life science and health management solutions, but operating and annual losses significantly narrowed by **39.0% and 38.9%**, respectively, driven by reduced operating expenses Financial Performance (RMB million) | Item | FY2024 (RMB million) | FY2025 (RMB million) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Revenue** | 807.1 | 715.0 | -11.4% | | **Cost of Sales and Services** | 467.6 | 475.8 | +1.7% | | **Gross Profit** | 339.4 | 239.2 | -29.5% | | **Gross Margin** | 42.1% | 33.5% | -8.6pp | | **Sales and Marketing Expenses** | 208.9 | 139.2 | -33.4% | | **Administrative Expenses** | 171.3 | 146.4 | -14.6% | | **Research and Development Expenses** | 232.9 | 186.5 | -19.9% | | **Operating Loss** | 219.9 | 134.1 | -39.0% | | **Annual Loss** | 221.2 | 135.2 | -38.9% | - The percentage of each operating expense to revenue decreased: sales and marketing expenses from **25.9% to 19.5%**, administrative expenses from **21.2% to 20.5%**, and R&D expenses from **28.9% to 26.1%**[59](index=59&type=chunk)[61](index=61&type=chunk)[63](index=63&type=chunk) [Liquidity and Capital Resources](index=25&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company maintained ample cash reserves totaling **RMB 3.309 billion**, primarily funded by shareholder contributions and IPO proceeds, with a net cash position and improved capital gearing ratio Cash and Cash Equivalents (RMB million) | Indicator (RMB million) | March 31, 2024 | March 31, 2025 | | :--- | :--- | :--- | | Cash and cash equivalents, time deposits, etc | 3,409.9 | 3,309.1 | - The company committed to investing **USD 40 million** in fund YD Capital I L.P. in October 2022, with **USD 6.6 million** invested as of March 31, 2025, leaving an outstanding investment commitment of **RMB 249 million**[68](index=68&type=chunk)[77](index=77&type=chunk) - As of March 31, 2025, the Group had **823 employees**, with product R&D and technical personnel accounting for the largest proportion at **326 employees**; total remuneration costs for the fiscal year significantly decreased to **RMB 417.6 million** from **RMB 566.3 million** in the previous fiscal year[78](index=78&type=chunk) [Report of the Directors](index=27&type=section&id=Report%20of%20the%20Directors) Details the board's activities, corporate governance practices, and compliance with regulatory requirements, including related party transactions and key business relationships [Continuing Connected Transactions and Contractual Arrangements](index=29&type=section&id=Continuing%20Connected%20Transactions%20and%20Contractual%20Arrangements) Due to foreign investment restrictions in China's value-added telecommunications services, the company controls relevant businesses and derives economic benefits through contractual arrangements with its Variable Interest Entities (VIEs) and their registered shareholders - To circumvent foreign investment restrictions, the company controls Variable Interest Entities (VIEs) through contractual arrangements, thereby gaining actual control and economic benefits from their operations[92](index=92&type=chunk) VIE Financial Contribution | Consolidated Affiliated Entity (VIE) Financial Contribution | FY2025 | FY2024 | | :--- | :--- | :--- | | Revenue Contribution to Group's Total Revenue | 66.5% | 80.5% | | Total Assets as Percentage of Group's Total Assets | 15.2% | 15.6% | - Contractual arrangements primarily include exclusive business cooperation agreements, exclusive call option agreements, equity pledge agreements, and powers of attorney, ensuring the Wholly Foreign-Owned Enterprise (WFOE) controls VIEs and obtains all their profits[103](index=103&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk)[111](index=111&type=chunk) [Major Customers and Suppliers](index=37&type=section&id=Major%20Customers%20and%20Suppliers) Customer and supplier concentration remained reasonable during the reporting period, with the largest customer contributing **11.7%** of total revenue and the largest supplier accounting for **12.4%** of total purchases Customer Concentration | Customer Concentration | Percentage of Total Revenue | | :--- | :--- | | Largest Customer | 11.7% | | Top Five Customers | 36.1% | Supplier Concentration | Supplier Concentration | Percentage of Total Purchases | | :--- | :--- | | Largest Supplier | 12.4% | | Top Five Suppliers | 33.1% | [Directors and Senior Management](index=42&type=section&id=Directors%20and%20Senior%20Management) This section details the professional backgrounds and achievements of the company's Board of Directors and senior management, including recent changes in executive director appointments - Board member changes: Dr. Yan Jun resigned as Executive Director on January 27, 2025, and Dr. Xie Li was appointed as Executive Director on the same day, bringing extensive experience in real-world research and health economics to the Board[150](index=150&type=chunk)[151](index=151&type=chunk)[158](index=158&type=chunk) [Environmental, Social and Governance Report](index=48&type=section&id=Environmental%2C%20Social%20and%20Governance%20Report) Outlines the company's commitment and performance in environmental protection, social responsibility, and corporate governance, guided by its 'Tech for Good' philosophy [ESG Philosophy and Strategy](index=50&type=section&id=ESG%20Philosophy%20and%20Strategy) Yidu Tech's ESG strategy centers on 'Tech for Good', focusing on environmentally friendly green healthcare, socially responsible technology, and sustainable corporate governance, with the Board actively promoting ESG initiatives - The company's ESG strategy is built on three pillars: environmentally friendly green healthcare, socially responsible technology for good, and sustainable corporate governance[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk) - In FY2025, the company received multiple ESG recognitions, including “Excellent Compliance Management Team” and “ESG Integrated Governance Benchmark Enterprise” awards[184](index=184&type=chunk)[186](index=186&type=chunk) [Sustainable Development Management](index=55&type=section&id=Sustainable%20Development%20Management) The company established a three-tier ESG governance structure and a three-line-of-defense risk management system, identifying key ESG issues through materiality assessment to guide strategy and disclosure - The company established a three-tier ESG governance structure, with the Board making decisions, the ESG working group organizing, and functional departments executing[191](index=191&type=chunk)[193](index=193&type=chunk) - The company identified **8 highly material ESG issues**, including technology development and innovation, protection of customer privacy and data security, and compliance risk management[213](index=213&type=chunk)[214](index=214&type=chunk) [Employee Development and Rights](index=71&type=section&id=Employee%20Development%20and%20Rights) The company is committed to building an inclusive workplace with a higher proportion of female employees, offering comprehensive talent development programs, and ensuring employee rights with 100% feedback resolution rate Employee Diversity and Composition (FY2025) | Employee Diversity and Composition (FY2025) | Data | | :--- | :--- | | Total Number of Employees | 823 people | | Percentage of Female Employees | 55.7% (458 people) | | Total Employee Turnover Rate | 25.39% | Employee Training (FY2025) | Employee Training (FY2025) | Data | | :--- | :--- | | Average Training Hours for Female Employees | 18.61 hours | | Average Training Hours for Male Employees | 8.83 hours | | Training Coverage for Full-time Entry-level Employees | 93.12% | | Training Coverage for Full-time Mid-level Management | 96.88% | [Product Quality and Data Security](index=93&type=section&id=Product%20Quality%20and%20Data%20Security) The company excels in product innovation, with its medical large model topping MedBench evaluations, and maintains a robust information security management system with multiple certifications, ensuring data security and intellectual property protection - Yidu Tech's large model topped the MedBench evaluation list in May 2024 and ranked first in the National Health Commission's triage and navigation scenario competition in September of the same year[311](index=311&type=chunk)[312](index=312&type=chunk) - The company has established a comprehensive data security and privacy protection system, obtaining multiple authoritative information security management system certifications, including **ISO27001** and **ISO27701 (Privacy Information Management)**[352](index=352&type=chunk)[355](index=355&type=chunk) Intellectual Property Data (2025) | Intellectual Property Data (2025) | Quantity | | :--- | :--- | | Domestic Registered Patents | 1,108 items | | Overseas Registered Patents | 101 items | | **Total** | **1,209 items** | [Environmental Management and Performance](index=113&type=section&id=Environmental%20Management%20and%20Performance) The company integrates climate risks and opportunities into its core strategy, achieving significant emission reductions through green office practices and energy efficiency, with a year-on-year decrease in Scope 2 GHG emissions Greenhouse Gas Emissions (tonnes of CO2 equivalent) | Greenhouse Gas Emissions (tonnes of CO2 equivalent) | FY2024 | FY2025 | | :--- | :--- | :--- | | Scope 1 (Direct) | 2.44 | 7.32 | | Scope 2 (Indirect) | 1,010.88 | 993.34 | | **Total (Scope 1+2)** | **1,013.32** | **1,000.66** | Resource Consumption | Resource Consumption | FY2024 | FY2025 | | :--- | :--- | :--- | | Total Water Consumption (cubic meters) | 3,008.6 | 3,998.96 | | Non-hazardous Waste Generated (kilograms) | 3,162.00 | 2,761 | [Other Information](index=129&type=section&id=Other%20Information) Presents additional disclosures including details on share schemes and the utilization of proceeds from the global offering [Share Schemes](index=131&type=section&id=Share%20Schemes) The company operates pre-IPO share option and post-IPO share award schemes, with **21,303,744 unexercised options** under the pre-IPO plan and **12,595,500 shares awarded** under the post-IPO plan during the reporting period - The post-IPO share option scheme was terminated on August 25, 2023, but options granted before termination remain exercisable[426](index=426&type=chunk) - During the reporting period, **12,595,500 shares** were granted under the post-IPO share award scheme, with **839,905 awards revoked** and **4,428,244 awards lapsed**[422](index=422&type=chunk) [Use of Proceeds from Global Offering](index=143&type=section&id=Use%20of%20Proceeds%20from%20Global%20Offering) Of the **RMB 3.825 billion** net proceeds from the global offering, **RMB 2.885 billion** has been utilized as of March 31, 2025, with the remaining funds' expected utilization delayed due to macroeconomic uncertainties Use of Proceeds (RMB million) | Purpose | Allocation Ratio | Net Proceeds (RMB million) | Unutilized as of March 31, 2025 (RMB million) | | :--- | :--- | :--- | :--- | | Strengthening Core Capabilities | 35% | 1,339 | 239 | | Further Business Expansion | 35% | 1,339 | — | | Strategic Partnerships, Investments, and Acquisitions | 20% | 765 | 701 | | Working Capital and General Corporate Purposes | 10% | 382 | — | - Due to the volatile macroeconomic environment, the expected full utilization of net proceeds for “strengthening core capabilities” and “strategic partnerships, investments, and acquisitions” has been delayed to **March 31, 2026**, and **March 31, 2030**, respectively[442](index=442&type=chunk) [Corporate Governance Report](index=144&type=section&id=Corporate%20Governance%20Report) This report details the company's corporate governance practices, confirming compliance with the Corporate Governance Code, with a noted deviation regarding the absence of a dividend policy to retain funds for business development - The company complies with the Corporate Governance Code, with the sole deviation being the absence of a dividend policy, aimed at retaining funds for business development[446](index=446&type=chunk)[496](index=496&type=chunk) - The Board has three committees: Audit, Remuneration, and Nomination, whose composition and responsibilities comply with the Corporate Governance Code requirements[468](index=468&type=chunk) - The Board confirms its responsibility for risk management and internal control systems, having reviewed their effectiveness during the reporting period and deeming them effective and adequate[490](index=490&type=chunk)[492](index=492&type=chunk) [Independent Auditor's Report](index=163&type=section&id=Independent%20Auditor%27s%20Report) PricewaterhouseCoopers issued an unmodified audit opinion, affirming the fair presentation of the consolidated financial statements, while highlighting key audit matters related to revenue recognition for bundled contracts and expected credit loss assessment for trade receivables - The auditor issued an unmodified opinion, stating that the financial statements are true and fair[519](index=519&type=chunk) - Key Audit Matter 1: Revenue recognition for bundled contracts in the Big Data Platform and Solutions segment, due to significant management judgment involved in identifying performance obligations and allocating transaction prices[525](index=525&type=chunk)[528](index=528&type=chunk) - Key Audit Matter 2: Assessment of expected credit losses for trade receivables and contract assets, due to significant management judgment and estimation involved in applying the simplified expected credit loss model[527](index=527&type=chunk)[532](index=532&type=chunk)[534](index=534&type=chunk) [Consolidated Financial Statements](index=171&type=section&id=Consolidated%20Financial%20Statements) Presents the company's complete consolidated financial statements, including the income statement, balance sheet, and cash flow statement, providing a detailed view of financial performance and position [Consolidated Statement of Comprehensive Income](index=171&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) For the year ended March 31, 2025, the company recorded **RMB 715 million in revenue**, an **11.4% year-on-year decrease**, but significantly narrowed its annual loss to **RMB 135 million** from **RMB 221 million** in the prior year Consolidated Statement of Comprehensive Income (RMB thousand) | Item (RMB thousand) | FY2025 | FY2024 | | :--- | :--- | :--- | | Revenue | 714,979 | 807,076 | | Gross Profit | 239,182 | 339,445 | | Operating Loss | (134,149) | (219,919) | | **Loss for the Year** | **(135,223)** | **(221,242)** | | Loss Attributable to Owners of the Company | (117,788) | (194,944) | | Loss Per Share (RMB) | (0.11) | (0.19) | [Consolidated Statement of Financial Position](index=173&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, total assets were **RMB 4.689 billion**, slightly lower than the prior year, with a significant increase in non-current assets and a stable equity base Consolidated Statement of Financial Position (RMB thousand) | Item (RMB thousand) | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **4,689,112** | **4,824,198** | | Non-current Assets | 722,140 | 390,124 | | Current Assets | 3,966,972 | 4,434,074 | | **Total Liabilities** | **711,370** | **732,205** | | **Total Equity** | **3,977,742** | **4,091,993** | [Consolidated Statement of Cash Flows](index=176&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) For the year ended March 31, 2025, net cash used in operating activities narrowed to **RMB 249 million**, with net cash generated from investing activities at **RMB 117 million**, resulting in a net decrease in cash and cash equivalents of **RMB 112 million** Consolidated Statement of Cash Flows (RMB thousand) | Item (RMB thousand) | FY2025 | FY2024 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (248,814) | (326,383) | | Net Cash Generated from Investing Activities | 116,708 | 466,903 | | Net Cash Generated from Financing Activities | 20,043 | 82,208 | | **Net (Decrease)/Increase in Cash and Cash Equivalents** | **(112,063)** | **222,728** | | Cash and Cash Equivalents at Year-End | 1,316,397 | 1,407,620 | [Notes to the Consolidated Financial Statements (Selected)](index=177&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) These notes provide detailed accounting policies and financial data breakdowns, covering revenue recognition, segment information, trade receivables, and share-based compensation, offering deeper insights into the financial figures - Note 5 Segment Information shows that the Big Data Platform and Solutions segment was the only one to achieve revenue growth, increasing by **10.3%** year-on-year[686](index=686&type=chunk) - Note 21 Trade Receivables indicates an increased proportion of receivables over 1 year old, with impairment provisions rising from **RMB 170 million to RMB 205 million**[741](index=741&type=chunk)[745](index=745&type=chunk) - Note 30 Share-based Payment Expenses significantly decreased to **RMB 6.705 million** in the current fiscal year from **RMB 58.71 million** in the previous fiscal year[781](index=781&type=chunk) [Financial Summary](index=268&type=section&id=Financial%20Summary) This section summarizes key financial data for the past five fiscal years (2021-2025), showing a revenue decline after peaking in FY2022, but a continuous narrowing of operating and annual losses for three consecutive years, indicating improving profitability Financial Summary (RMB thousand) | Item (RMB thousand) | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | 867,036 | 1,237,200 | 804,700 | 807,076 | 714,979 | | **Operating Loss** | (453,286) | (767,398) | (630,049) | (219,919) | (134,149) | | **Loss for the Year** | (3,694,817) | (766,360) | (632,361) | (221,242) | (135,223) | | **Total Assets** | 5,249,894 | 4,722,810 | 4,911,508 | 4,824,198 | 4,689,112 | | **Total Equity** | 4,752,188 | 4,007,466 | 4,156,151 | 4,091,993 | 3,977,742 |

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。 International Housewares Retail Company Limited 國際家居零售有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1373） 截至2025年4月30日止年度 全年業績公告 國際家居零售有限公司（「本公司」）的董事會（「董事會」或「董事」）欣然公佈本公司及其 附屬公司（統稱為「本集團」或「我們」）截至2025年4月30日止年度（「本年度」）之綜合全年 業績，並連同截至2024年4月30日止財政年度之比較數字（「2023/24」或「上年度」）。全年業 績是按照香港聯合交易所有限公司證券上市規則（分別簡稱為「聯交所」及「上市規則」）的相 關規定編製。 業績摘要 附註： - 1 - • 本年度收入達2,536,822,000港元（2023/24：2,687,036,000港元）(1)，較上年度下跌5.6%。 • 本年度之本公司權益持有人應佔利潤為47,727,0 ...

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。 Summi (Group) Holdings Limited 森美（集團）控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號： 00756） 有關本公司截至二零二四年六月三十日止年度年報的補充公告 森美（集團）控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此提供有 關其截至二零二四年六月三十日止年度年報（「年報」）的額外資料。除另有所指外， 本公告所用詞彙與年報所界定者具有相同涵義。 股份認購事項所得款項用途 經扣除相關費用及開支後，股份認購事項的所得款項淨額合共約為港幣74,710,000 元。截至二零二四年六月三十日，股份認購事項所得款項淨額已應用如下： | | | | 於 | | --- | --- | --- | --- | | | | | 二零二四年 | | | | | 六月三十日 | | | 所得款項 | 所得款項 | 未動用 | | | 淨額的計劃 | 淨額的實際 | ...

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，概不對本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 SANVO Fine Chemicals Group Limited 三和精化集團有限公司 （於開曼群島註冊成立之有限公司） 除年報披露的資料外，董事會謹向本公司股東及潛在投資者提供以下有關股份計劃的補 充資料。 — 1 — i. 於二零二四年十一月十五日，209,740股獎勵股份根據二零二三年股份獎勵計劃歸屬。 承授人無須支付購買價。每次授出獎勵股份的代價為零； ii. 股份於緊接獎勵股份歸屬日期前之加權平均收市價為1.33港元； iii. 於二零二四年十二月三十一日，根據股份計劃可供授出之購股權及股份獎勵數目為 41,122,283份；及 iv. 於年報日期，根據股份計劃可供發行之股份總數為56,490,023股，佔於年報日期已發 行普通股（不包括庫存股份）470,459,740股約12.01%。 上述額外資料為對年報的補充，且應與之一併閱讀。上述補充資訊並不影響年報中所載 的其他資料。除本公告所披露 ...

（於中華人民共和國註冊成立的股份有限公司） （股份代號：1880） 2025年半年度業績快報；及 2022至2024年年度的年度報告之補充公告 本公告乃根據香港法例第571章證券及期貨條例第XIVA部項下內幕消息條文（定 義見香港聯合交易所有限公司證券上市規則（「上市規則」））及上市規則第13.09條 而作出。 本公告所載中國旅遊集團中免股份有限公司（「本公司」）2025年半年度主要財務數 據為初步核算數據，未經會計師事務所審計，具體數據以本公司2025年中期報告 中披露的數據為準，提請投資者注意投資風險。 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 Tourism Group Duty Free Corporation Limited 中國旅遊集團中免股份有限公司 一、截至2025年6月30日止六個月（「本報告期」）主要財務數據和指標 單位：人民幣萬元 | 項目 | 本報告期 | 上年同期 | 增減變動 幅度(%) | | --- ...

香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為中小型公司提供一個上市的市場，該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 投資者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，故在GEM買賣的證券可能會較於主板買賣之證券承受較高的市場波動風險，同時 無法保證在GEM買賣的證券將會有高流通量的市場。 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，並明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告乃遵照GEM上市規則之規定而提供有關熒德控股有限公司（「本公司」，連同其附屬公司為「本集團」）之資料，董事 （「董事」）願共同及個別對此負全責。董事經作出一切合理查詢後，確認就彼等所深知及確信，本報告所載資料在所有重 大方面均屬準確及完備，並無誤導或欺詐成份，且本報告並無遺漏任何其他事項致使本報告所載任何陳述或本報告產生 誤導。 目錄 2 公司資料 3 主席報告 4 管理層討論及分析 10 董事及高級管理層的履 ...

2024/25 Annual Report 年報 致臻之美 目錄 | 公司簡介 | 02 | | --- | --- | | 公司資料 | 05 | | 里程碑及重要事件 | 06 | | 管理層討論及分析 | 08 | | 投資者關係及財務日誌 | 16 | | 董事及高級管理層簡歷 | 17 | | 企業管治報告 | 19 | | 董事會報告 | 28 | | 獨立核數師報告 | 36 | | 綜合損益表 | 44 | | 綜合損益及其他全面收益表 | 45 | | 綜合財務狀況報表 | 46 | | 綜合權益變動表 | 48 | | 綜合現金流量表 | 50 | | 財務報表附註 | 52 | | 本集團所持物業 | 111 | | 五年財務概要 | 112 | 02 現代健康科技控股有限公司 公司 簡介 2024/25 年報 03 公司 簡介 現代健康科技控股有限公司（「本公司」）及其附屬公司（「本集團」或「現代健 康」）乃香港首屈一指的美容中心集團，提供專業護理、優質服務及採用天然 材料製成的產品。我們定位於為高端美容業，為追求頂尖專業駐顏體驗的 客戶提供盡善致美的美容及保健服務。我們的業務由以下五 ...

中國港能智慧能源集團有限公司 2025 年 報 CHINA HK POWER SMART ENERGY GROUP LIMITED 2025 ANNUAL REPORT Empowering INNOVATION SHARING Growth 蓄勢 創新 共享 發展 CHINA HK POWER SMART ENERGY GROUP LIMITED 中國港能智慧能源集團有限公司 Annual Report 2025 年報 目錄 | 公司資料 | 2 | | --- | --- | | 主席報告 | 3 | | 管理層討論與分析 | 5 | | 董事及高級管理層履歷 | 19 | | 企業管治報告 | 21 | | 董事會報告 | 34 | | 環境、社會及管治報告 | 44 | | 獨立核數師報告 | 64 | | 綜合損益表 | 69 | | 綜合其他全面收益表 | 70 | | 綜合財務狀況表 | 71 | | 綜合權益變動表 | 73 | | 綜合現金流量表 | 74 | | 綜合財務報表附註 | 76 | | 財務概要 | 162 | 1 2025 年報 中國港能智慧能源集團有限公司 公司資料 董事會 ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部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。 JISHENG GROUP HOLDINGS LIMITED 吉盛集團控股有限公司 （於開曼群島註冊成立的有限公司） (股份代號 : 8133) 有關截至二零二四年十二月三十一日止年度之年度報告 之補充公告 茲提述吉盛集團控股有限公司（「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之年報（「2024 年年度報告」）。除文義另有所指外，本公告所 用詞彙與 2024 年年度報告所界定者具有相同涵義。 除 2024 年年度報告所載資料外，本公司謹此提供以下補充資料。本補充公告應與 2024 年年 度報告內的「管理層討論與分析」一併閱讀。 二零二三年供股所得款項用途 於二零二三年六月五日，本公司公告（其中包括）建議股份合併及按於二零二三年七月二十 六日每持有兩(2)股股份獲發一(1)股供股股份之基準進行供股（「供股」），認購價為每股供 股股份 0.8 港元。供股已於二 ...