Financial Performance - For the fiscal year ending December 31, 2025, the company reported total revenue of RMB 552,798,000, a decrease of 4.7% compared to RMB 580,370,000 in the previous fiscal year[3]. - The gross profit for the fiscal year 2025 was RMB 38,809,000, down 28.7% from RMB 54,378,000 in fiscal year 2024[3]. - The net loss attributable to the owners of the company for the fiscal year 2025 was RMB 58,532,000, compared to a net loss of RMB 75,199,000 in fiscal year 2024, representing a 22.2% improvement[3]. - The group reported a decrease in inventory to RMB 11,865,000 in fiscal year 2025 from RMB 18,993,000 in fiscal year 2024, a reduction of 37.3%[4]. - The group incurred an operating loss of RMB 41,049,000, with administrative expenses amounting to RMB 74,940,000[17]. - The group's gross profit decreased from approximately RMB 54.4 million in FY2024 to about RMB 38.8 million in FY2025, a decline of approximately RMB 15.6 million or 28.6%[72]. - The net loss attributable to the company's owners for FY2025 was approximately RMB 58.5 million, a reduction of 22.2% compared to a net loss of approximately RMB 75.2 million in FY2024[82]. Assets and Liabilities - The company's total assets increased to RMB 1,289,144,000 in fiscal year 2025, up from RMB 1,132,654,000 in fiscal year 2024, reflecting a growth of 13.8%[4]. - Total assets as of December 31, 2025, were RMB 1,289,144,000, with total liabilities of RMB 969,727,000[19]. - Non-current liabilities rose significantly to RMB 389,680,000 in fiscal year 2025, compared to RMB 150,989,000 in fiscal year 2024, indicating a substantial increase of 158.1%[6]. - As of December 31, 2025, the company's current liabilities exceeded current assets by approximately RMB 92,133,000, raising concerns about its ability to continue as a going concern[10]. - Total borrowings increased to RMB 502,167,000 in 2025 from RMB 360,389,000 in 2024, representing an increase of 39.2%[58]. - The debt-to-equity ratio increased to approximately 60% as of December 31, 2025, compared to 48% as of December 31, 2024, primarily due to increased borrowings to support capital expenditures in the iron ore tailings recovery segment[83]. Revenue Breakdown - The group reported total revenue of RMB 552,798,000 for the year ended December 31, 2025, with the following breakdown: RMB 267,347,000 from ready-mixed concrete, RMB 502,000 from precast concrete components, and RMB 284,949,000 from recycled iron ore tailings and bricks[17]. - Revenue from ready-mixed concrete sales fell from approximately RMB 302.9 million in FY2024 to about RMB 267.3 million in FY2025, a decline of approximately RMB 35.5 million or 11.7%[68]. - Revenue from precast concrete components plummeted from approximately RMB 14.1 million in FY2024 to about RMB 0.5 million in FY2025, a significant drop of approximately RMB 13.6 million or 96.4%[69]. - Revenue from iron ore tailings recovery and eco-bricks increased from approximately RMB 263.4 million in FY2024 to about RMB 284.9 million in FY2025, an increase of approximately RMB 21.6 million or 8.2%[70]. Operational Challenges and Strategies - The company plans to enhance operational performance and cash flow by improving accounts receivable collection and increasing the production capacity of its iron ore tailings recovery business[10]. - The company expects continued operational challenges in the ready-mixed concrete and precast concrete components segments due to intense market competition and a sluggish property market[64]. - The company is optimistic about growth in its iron ore tailings recovery and eco-brick segments in Hainan, supported by abundant raw material reserves[65]. - The construction of a new mineral resource processing plant in Longyan is expected to commence in 2026, enhancing the company's sustainable development initiatives[65]. Employee and Governance - The group employed 320 staff as of December 31, 2025, down from 442 staff as of December 31, 2024[90]. - The group has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules during the fiscal year 2025[95]. Financial Management - The company aims to continue managing its bank borrowings and refinancing its maturing loans to alleviate liquidity pressure[11]. - The group plans to reallocate the unutilized net proceeds of HKD 5.4 million to expand the precast concrete component capacity and repay bank loans by December 2026[93]. - The group had no significant contingent liabilities as of December 31, 2025, consistent with the previous year[87].

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。 China PengFei Group Limited 中國鵬飛集團有限公司 • 截至二零二五年十二月三十一日止年度的收益約為人民幣1,433.0百萬元， 相較去年增加13.8%。 • 截至二零二五年十二月三十一日止年度的毛利約為人民幣301.4百萬元，相 較去年增加約20.6%。 • 截至二零二五年十二月三十一日止年度的除稅前溢利約為人民幣126.4百萬 元，相較去年增加約47.1%。 • 本公司擁有人應佔截至二零二五年十二月三十一日止年度的溢利及全面收 入總額約為人民幣101.9百萬元，相較去年增加約44.1%。 • 截至二零二五年十二月三十一日止年度的本公司普通股權益持有人應佔每 股盈利為人民幣20.2分。 • 董事會建議派發截至二零二五年十二月三十一日止年度末期股息為每股普 通股人民幣0.06056元，總計約為人民幣30.3百萬元。 綜合損益及其他全面收益表 截至二零二五年十二月三十一日止年度 ...

Financial Performance - For the year ending December 31, 2025, the company reported revenue of RMB 503,594,000, representing a 105.8% increase compared to RMB 244,646,000 in 2024[6] - The gross profit for the same period was RMB 44,662,000, which is a decrease of 32.1% from RMB 65,808,000 in 2024[6] - The company recorded a loss before tax of RMB 73,416,000, an increase of 94.0% from a loss of RMB 37,846,000 in 2024[6] - The net loss attributable to the company's owners was RMB 73,213,000, up 92.9% from RMB 37,960,000 in 2024[6] - Adjusted net loss amounted to RMB 52,463,000, reflecting an 88.0% increase from RMB 27,917,000 in 2024[6] - The group reported a net loss of approximately RMB 77,594,000 for the year ended December 31, 2025[94] - The company reported a net loss of RMB 74,789,000 for 2025, compared to a net loss of RMB 39,290,000 in 2024, reflecting an increase in losses of approximately 90.4%[84] - The adjusted net loss attributable to the company's owners for the year ended December 31, 2025, was RMB 73.213 million, compared to RMB 37.960 million for 2024, indicating an increase in losses[62] Revenue Breakdown - The enterprise digital marketing services segment generated RMB 339.166 million, accounting for 67.4% of total revenue in 2025, compared to RMB 58.826 million or 24.0% in 2024[33] - Revenue from enterprise digital services increased by 116.2% from RMB 214.9 million for the year ended December 31, 2024, to RMB 464.7 million for the year ended December 31, 2025[34] - Revenue from enterprise private domain traffic marketing services contributed RMB 295.4 million in 2025, a significant increase from RMB 1.2 million in 2024[34] - Online services generated RMB 350.4 million in revenue for 2025, accounting for 75.4% of total enterprise digital services revenue, compared to RMB 100.0 million and 46.5% in 2024[35] - Revenue from advertising agents was RMB 151.3 million in 2025, representing 32.6% of total enterprise digital services revenue, while enterprise clients contributed RMB 313.4 million, or 67.4%[36] - The total revenue from enterprise digital services was RMB 464.7 million in 2025, with a breakdown of RMB 339.2 million from private domain traffic marketing services[34] Market Trends and Strategies - The Chinese advertising market is expected to see a 10% increase in marketing spending in 2026, with 30% of advertisers showing a positive investment attitude, up 8% year-on-year[8] - The company plans to focus on brand building and product strength while expanding its overseas business[7] - The company is exploring the application of artificial intelligence in its advertising solutions to better address advertisers' pain points[12] - The company plans to implement an AI digital lottery store model by 2025, aimed at providing accurate betting analysis and optimizing marketing strategies for lottery operators[32] - The company aims to enhance its digital marketing services through partnerships with telecom operators, providing customized virtual goods packages and data management platforms[40] - The company is focused on enhancing its core business and improving operational efficiency while maintaining a cautious risk management strategy to ensure steady growth in a complex economic environment[123] Operational Efficiency - The group has over 3,944 stock-keeping units in its warehouses to ensure operational efficiency and meet customer demand[22] - The group is restructuring its business divisions into two main segments: enterprise digital services and industry digital services to enhance operational efficiency[17] - The company has shifted its advertising service model to provide more value-added services, enhancing insights and promotional services for clients[34] - The focus has shifted towards enhancing operational efficiency through strict cost control and realizing synergies between sports and digital initiatives, with confidence in turning losses into profits[129] Financial Position and Liabilities - The company had total borrowings of RMB 124.8 million as of December 31, 2025, compared to RMB 87.5 million in 2024, indicating increased leverage[67] - The company's debt-to-asset ratio was 46.0% as of December 31, 2025, up from 28.0% in 2024, suggesting a higher financial risk[67] - The company's total liabilities increased to RMB 198,117,000 in 2025 from RMB 173,165,000 in 2024, an increase of approximately 14.4%[86] - The company's equity attributable to owners decreased to RMB 283,606,000 in 2025 from RMB 359,624,000 in 2024, a decline of about 21.1%[86] Employee and Operational Changes - The company employed 194 full-time employees as of December 31, 2025, down from 311 in 2024, indicating a reduction in workforce[63] - As of December 31, 2025, the total employee costs amounted to approximately RMB 44.5 million, a decrease from RMB 54.0 million in 2024[64] Future Outlook and Growth Opportunities - The company aims to expand its digital services and explore new growth opportunities, particularly in employee benefits and digital marketing, leveraging a robust supply chain for both virtual and physical products[124] - The company is poised to capitalize on the upcoming "Sports Mega Year" with major events like the 2026 World Cup and Winter Olympics, integrating real-time AI data analysis with sports lottery services[129] - The global economic outlook for 2026 remains pessimistic, with continued low economic growth, prompting the company to closely monitor economic trends and market competition[122] Shareholder and Corporate Governance - The board has decided not to recommend the payment of a final dividend for the financial year ending December 31, 2025[142] - The annual general meeting is scheduled for June 26, 2026, with a record date for shareholders set on the same day[143] - The company expresses gratitude to management, employees, business partners, customers, and shareholders for their support during the review year[146]

Financial Performance - Revenue for the year ended December 31, 2025, increased by approximately 14.8% or RMB 17.5 million to about RMB 135.2 million[2] - Gross profit for the year ended December 31, 2025, rose by approximately 6.2% or RMB 1.1 million to about RMB 19.2 million[2] - The loss attributable to equity holders of the company for the year ended December 31, 2025, was approximately RMB 26.4 million, compared to a profit of approximately RMB 3.1 million for the year ended December 31, 2024[2] - Basic loss per share for the year ended December 31, 2025, was approximately RMB 4.84, while basic earnings per share for the year ended December 31, 2024, was approximately RMB 0.57[4] - The group reported a loss before tax of RMB 24,594 thousand in 2025, a significant decline from a profit of RMB 1,060 thousand in 2024[28] - The group’s income tax expense for 2025 was RMB 5,732 thousand, a significant increase from RMB 722 thousand in 2024[9] - The company reported a loss attributable to shareholders of approximately RMB 26.4 million for the year ended December 31, 2025, compared to a profit of about RMB 3.1 million for the same period in 2024[49] Assets and Liabilities - Total non-current assets as of December 31, 2025, amounted to RMB 179.3 million, down from RMB 198.3 million in 2024[5] - Current assets as of December 31, 2025, totaled RMB 205.9 million, compared to RMB 223.9 million in 2024[5] - Total current liabilities as of December 31, 2025, were RMB 30.4 million, a decrease from RMB 63.8 million in 2024[5] - Net assets as of December 31, 2025, were RMB 305.0 million, down from RMB 334.2 million in 2024[6] - Current assets net value increased from approximately RMB 160.1 million as of December 31, 2024, to about RMB 175.6 million as of December 31, 2025[50] - Total debt increased from approximately RMB 21.9 million as of December 31, 2024, to about RMB 26.4 million as of December 31, 2025, with the debt-to-equity ratio rising from about 6.6% to 8.7%[51] Revenue Breakdown - Revenue from consumer paper and hygiene products increased to RMB 123,164 thousand in 2025, up from RMB 104,848 thousand in 2024, representing a growth of 17.4%[20] - Total revenue for the group reached RMB 135,183 thousand in 2025, compared to RMB 117,713 thousand in 2024, marking an increase of 14.8%[26] - The revenue from the life paper and hygiene products segment was approximately RMB 123.2 million, which increased by about 17.5% from RMB 104.8 million in 2024[39] - Revenue from the top five customers amounted to approximately RMB 45.7 million, representing about 33.8% of total revenue for the year[64] Expenses - The group’s employee benefits expenses rose to RMB 6,276 thousand in 2025, compared to RMB 4,633 thousand in 2024[28] - Sales and distribution expenses increased by approximately 51.1% from RMB 2.5 million for the year ended December 31, 2024, to about RMB 3.7 million for the year ended December 31, 2025, primarily due to increased transportation costs[45] - Administrative expenses rose from approximately RMB 7.2 million for the year ended December 31, 2024, to about RMB 7.8 million for the year ended December 31, 2025, mainly due to increased employee costs[46] - Financial costs increased from approximately RMB 0.8 million for the year ended December 31, 2024, to about RMB 1.3 million for the year ended December 31, 2025, primarily due to additional borrowings and rising interest rates[47] Corporate Governance and Compliance - The company is registered in the Cayman Islands and its shares are listed on the Hong Kong Stock Exchange[7] - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and are presented in Renminbi (RMB)[9][11] - The company has complied with all applicable corporate governance codes as of December 31, 2025[71] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2025[73] - The company's auditor has agreed to the figures presented in the audited financial statements for the year ending December 31, 2025[74] Future Outlook and Plans - The anticipated growth rate for the Chinese life paper market is approximately 5.5% annually from 2025 to 2033[38] - The overall industry outlook is positive, with significant growth opportunities anticipated in the household paper and hygiene products market in 2026[66] - The company plans to introduce innovative products that meet "dual carbon" standards to cater to diverse customer demands for quality and sustainability[67] - The company aims to optimize its supply chain to address raw material price fluctuations and enhance product differentiation through technological innovation[68] - The company will actively expand into new markets and product lines to reduce reliance on major customers and mitigate revenue concentration risks[64] Dividends and Shareholder Information - The board of directors recommended not to declare any final dividend for the year ended December 31, 2025[2] - The group does not recommend the payment of any dividends for the fiscal year ending December 31, 2025[31] - The annual general meeting is scheduled for June 25, 2026, with a share transfer registration suspension from June 22 to June 25, 2026[72] - The annual report for the year ending December 31, 2025, is expected to be sent to shareholders by April 30, 2026[75]

Share Distribution - The total number of shares available for distribution is clarified to be 144,170,000 shares, correcting a previous error that stated it as 108,070,000 shares[1] Annual Performance Announcement - The announcement serves as a supplementary clarification to the annual performance announcement for the year ending December 31, 2025[1] - All other information in the annual performance announcement remains unchanged, aside from the disclosed correction[1]

Financial Data Preparation - Shanghai FourSemi Semiconductor Co., Ltd. is preparing its preliminary financial data for the year ending December 31, 2025[2] - The financial information will be included in the prospectus dated March 23, 2026, available on the Hong Kong Stock Exchange website and the company's website[3] Board of Directors - The board of directors includes executive directors Xu Xiaolin, Liu Baoliang, Qian Shun, and Yu Bingbing, along with non-executive and independent non-executive directors[3]

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。 Jiayuan Services Holdings Limited 佳源服務控股有限公司 （於開曼群島註冊成立的有限公司） 綜合財務狀況表 於2025年12月31日 於12月31日 | | 附註 | 人民幣千元 | 人民幣千元 | | --- | --- | --- | --- | | 資產 | | | | | 非流動資產 | | | | | 物業及設備 | | 19,194 | 22,692 | | 使用權資產 | | 1,825 | 2,301 | | 無形資產 | | 102,846 | 111,340 | | 於聯營公司的權益 | | 1,360 | 1,435 | | 遞延所得稅資產 | | 75,471 | 68,758 | | | | 200,696 | 206,526 | | 流動資產 | | | | | 存貨 | | 944 | 680 | | 貿易及其他應收款項 | 13 | 473 ...

Financial Performance - The company reported a revenue of $840.8 million for the year ended December 31, 2025, representing an 8.0% increase from $778.3 million in 2024[3] - The operating profit for 2025 was $49.5 million, up from $33.2 million in 2024, while net profit increased by 69.6% to $36.3 million from $21.4 million[5] - Total revenue for 2025 was $840.8 million, an 8.0% increase from $778.3 million in 2024, primarily driven by a $42.7 million increase in revenue from restaurant operations[13] - Revenue from restaurant operations reached $790.0 million in 2025, a 5.7% increase from $747.3 million in 2024[14] - The group recorded an operating profit of $37.4 million, down 29.8% from $53.3 million in the same period last year[10] - The company recorded a net profit of $36.3 million in 2025, a 69.6% increase from $21.4 million in 2024, primarily driven by a foreign exchange gain of $33.8 million[35] Customer Traffic and Restaurant Expansion - The total number of restaurants increased to 126 in 2025, with a total customer traffic of 32 million, up from 29.9 million in 2024[4] - The company opened 13 new restaurants during the year while closing 9, with 3 of those being transformed into second-brand restaurants[6] - The total number of restaurants expanded to 126 across 14 countries by December 31, 2025[15] - The total customer traffic increased to 32.0 million in 2025, up from 29.9 million in 2024[17] Revenue Streams - Other sales revenue reached $31.8 million, a 61.4% increase from $19.7 million in 2024, driven by the performance of second-brand restaurants[6] - Revenue from the takeaway business in 2025 was $19.0 million, a 68.1% increase from $11.3 million in 2024[21] - The takeaway business generated $18,954 thousand in revenue, a significant increase of 68.5% compared to $11,293 thousand in 2024[78] Operational Efficiency - The overall average table turnover rate was 3.9 times per day, an increase of 0.1 times compared to 2024, with same-store revenue growth of 2.9%[9] - The average daily revenue per restaurant was $18.1 thousand, compared to $17.7 thousand in 2024[4] - The average table turnover rate improved to 3.9 times per day in 2025, compared to 3.8 times in 2024[17] - In 2025, the average table turnover rate for the overall business was 4.0 times per day, an increase from 3.9 times in 2024[20] Cost and Expenses - The cost of raw materials and consumables was $282.8 million in 2025, a 9.7% increase from $257.7 million in 2024, with the cost as a percentage of revenue rising from 33.1% to 33.6%[24] - Employee costs increased to $285.4 million in 2025, a 10.1% rise from $259.3 million in 2024, with the cost as a percentage of revenue increasing from 33.3% to 33.9%[25] - Rental and related expenses were $24.2 million in 2025, a 20.4% increase from $20.1 million in 2024[26] - Other expenses totaled $87.1 million in 2025, a 23.2% increase from $70.7 million in 2024[30] - Financial costs rose to $11.4 million in 2025, a 34.1% increase from $8.5 million in 2024[33] Assets and Liabilities - As of December 31, 2025, inventory increased by 19.0% to $37.5 million from $31.5 million in 2024, reflecting stockpiling for new restaurant openings and higher inventory levels due to increased customer traffic[36] - Trade and other receivables increased by 15.9% to $35.7 million as of December 31, 2025, from $30.8 million in 2024, attributed to a $3.1 million increase in trade receivables due to higher operating income[38] - Trade payables rose by 18.2% to $36.3 million as of December 31, 2025, compared to $30.7 million in 2024, reflecting procurement for restaurant operations[39] - Cash and cash equivalents totaled $272.0 million as of December 31, 2025, a 6.8% increase from $254.7 million in 2024, with $127.4 million in fixed-term deposits[43] Shareholder Information - The company has not declared any dividends for the year ending December 31, 2025, to retain earnings for ongoing expansion and investment in digital capabilities[114] - The company issued 30,966,000 shares in 2024, increasing total issued shares to 650,299,000 by year-end 2025[99] - The group plans to allocate 70% of the net proceeds from the recent share issuance, amounting to $36.34 million, to strengthen its brand and expand its global store network[110] Compliance and Governance - The company has adopted the Corporate Governance Code and has complied with all applicable principles and provisions during the reporting period[106] - The audit committee, consisting of three independent non-executive directors, reviewed the financial performance for the year ending December 31, 2025, and found it compliant with relevant accounting standards[111]

Corporate Governance - Mindtell Technology Limited's board of directors includes Mr. Zhang Rongxuan as Chairman and CEO, appointed on October 24, 2025[8]. - The company has undergone significant changes in its board composition, with multiple resignations and appointments occurring in late 2025[9]. - The company has a compliance officer and authorized representatives, ensuring adherence to regulatory requirements[12]. - The independent auditor for the company is D & Partners CPA Limited, which plays a crucial role in financial oversight[16]. - The company emphasizes high levels of corporate governance and business ethics as a major objective to maximize long-term interests[175]. - The Board consists of two executive Directors, one non-executive Director, and three independent non-executive Directors, ensuring diverse perspectives in decision-making[184]. - The company has adopted the required standard of dealings for directors' securities transactions, confirming compliance by all Directors for the year ended 30 November 2025[182]. - The Board is responsible for the leadership and control of the Group, overseeing strategic decisions and performance[189]. - The company plans to maintain its current governance structure, believing that separating the roles of chairman and CEO would reduce decision-making efficiency[180]. - The company has a policy for the appointment, re-election, and retirement of Directors, ensuring that one-third of Directors retire by rotation at each annual general meeting[192]. - The Audit Committee has direct access to external auditors and independent professional advisers when necessary, enhancing oversight[177]. - The Board consists of six Directors, with one female member[196]. - The age distribution of the Board includes one member aged 30-39, two members aged 40-49, one member aged 50-59, and two members aged 60-69[196]. - Senior management comprises six members, three of whom are female[196]. - The Company has adopted a board diversity policy considering factors such as gender, age, and professional experience[195]. - The Company complies with GEM Listing Rules, having at least three independent non-executive directors[198]. - Each independent non-executive Director has provided an annual confirmation of independence[199]. - The Nomination Committee monitors the implementation of the board diversity policy to ensure effectiveness[195]. - Appointments to the Board and senior management are based on meritocracy and objective criteria[197]. - The Company emphasizes the importance of diversity in its Board composition[200]. Financial Performance - The Group's total revenue increased by approximately 41.6% to approximately RM20.2 million for the year ended 30 November 2025, compared to RM14.2 million in 2024[42]. - Revenue from system integration and development services rose by approximately 47.1% to approximately RM19.0 million for the year ended 30 November 2025, up from RM12.9 million in 2024[44]. - IT outsourcing services revenue decreased to nil for the year ended 30 November 2025, down from approximately RM0.2 million in 2024, due to staff allocation to internal projects[45]. - Maintenance and consultancy services revenue increased by approximately 0.5% to approximately RM1.113 million for the year ended 30 November 2025, compared to RM1.107 million in 2024[50]. - Gross profit decreased from approximately RM4.103 million in 2024 to approximately RM4.078 million in 2025, with a gross profit margin decline from 28.8% to 20.2%[54]. - Administrative expenses increased by approximately 5.6% to approximately RM5.7 million for the year ended 30 November 2025, attributed to higher staff costs[55]. - The Group recorded a loss of approximately RM2.3 million for the year ended 30 November 2025, compared to a loss of approximately RM1.1 million in 2024[58]. - Total borrowings of the Group amounted to approximately RM19.5 million as of 30 November 2025, a significant increase from approximately RM1.7 million in 2024[65]. - The gearing ratio rose to 673.9% at 30 November 2025, compared to 64.5% in 2024[66]. - Net current assets decreased to approximately RM0.3 million as of 30 November 2025, down from approximately RM1.4 million in 2024, with a current ratio of approximately 1.0 times[67]. - The Group's total staff costs and related expenses for the year ended 30 November 2025 were approximately RM8.9 million, an increase from approximately RM8.0 million in 2024[102]. - Total contributions made by the Group to the retirement benefit schemes for the year ended 30 November 2025 were approximately RM850,000, compared to RM748,000 in 2024[106]. Business Strategy and Operations - The Group's operations are primarily located in the People's Republic of China and Malaysia, providing IT services to both private and public sectors, including banks and financial institutions[19]. - Significant technological advancements in the banking industry, driven by Artificial Intelligence, Blockchain, and Big Data, are key demand drivers impacting all major business lines[20]. - The Group is actively bidding for new contracts to enhance business performance and is developing advanced versions of existing IT products to increase competitive advantage[20]. - Digital customer engagement and regulatory compliance are top priorities, with a focus on cloud technology offering greater flexibility and cost advantages[24]. - The product suite now includes SaaS solutions, further reducing infrastructure costs for customers[24]. - The Group plans to redeploy and enlarge data centers in the PRC to support higher volumes of data traffic and advanced AI-driven applications[29]. - Upgrading IT infrastructure with AI-integrated solutions will improve efficiency, strengthen cybersecurity, and provide predictive analytics capabilities[30]. - The Group aims to capture emerging opportunities in cloud computing, artificial intelligence, and SaaS innovation in the PRC segment[28]. - There is growing demand for the Group's solutions, particularly in the public financial services sector, indicating a strong market position[25]. - The Group remains committed to fostering partnerships and delivering cutting-edge solutions to support clients in the AI-driven era[25]. - The Group aims to enhance user experience and interoperability in its SaaS offerings to increase adoption among SMEs and large corporates[33]. - Future market penetration will focus on tier-two and tier-three cities in the PRC, where demand for cloud and SaaS solutions is accelerating[34]. - The PRC segment is expected to be a key driver of sustainable growth, leveraging enlarged data capacity and AI-integrated infrastructure[35]. - The Group plans to establish partnerships and potential acquisitions to broaden its product offerings[32]. - The Group's strategy aims to enhance long-term shareholder value and secure recurring revenue streams through expanded data capacity and AI-integrated infrastructure[93]. - The company is exploring opportunities in real estate investment and digital banking systems, indicating a diversification of its business interests[122]. - The company is expanding into bio-dynamic oriented agricultural activities, which may open new revenue streams[122]. - A successful partnership with Oracle has led to new contracts, particularly in anti-money laundering software, with plans for further success in Southeast Asia[84]. - The Group will redeploy and expand its data centers in China to support higher data traffic and advanced AI applications, enhancing operational resilience[87]. - The redevelopment of SaaS products will focus on modular and industry-specific solutions to meet the needs of enterprises undergoing digital transformation[91]. Management and Personnel - The company is focusing on enhancing its competitiveness and expanding its business through unique insights provided by its new executive team members[113]. - Mr. Chong Yee Ping, the founder, transitioned to a non-executive director role on October 24, 2025, after serving as CEO since February 27, 2018[115]. - The management team has a strong educational background, with several members holding advanced degrees and professional certifications in relevant fields[119][125]. - Mr. Zhang Rongxuan was appointed as the executive director and CEO on October 24, 2025, bringing over 20 years of experience in business operations and management in the Chinese medical technology sector[113]. - Mr. Siew was appointed as an independent non-executive Director on 1 May 2023 and will resign on 24 October 2025[132]. - Mr. Siew has extensive experience in auditing, banking, manufacturing, property development, risk management, and corporate governance across Malaysia, Hong Kong, England, and Canada[135]. - Dato' Yeong was appointed as an independent non-executive Director on 1 May 2023, bringing nearly 40 years of experience in information technology and consulting industries[137]. - Dato' Yeong has held various significant positions, including vice president of CSC Malaysia Sdn. Bhd. and chairman of ES Ceramics Technology Berhad[138]. - Ms. Lau was appointed as an independent non-executive Director on 1 September 2023, with over 20 years of experience in legal and corporate governance[143]. - Ms. Lau has served as a partner at M/S Gan, Lau & Associate and as a group legal advisor for Leong Hup International Berhad[144]. - Mr. Yuen was appointed as an independent non-executive Director on 24 October 2025, currently serving as the company secretary and head of finance at Edvance International Holdings Limited[146]. - Mr. Yuen has over 20 years of experience in financial reporting, financial management, and audit across Hong Kong, China, Malaysia, and Singapore[146]. - Mr. Yuen is a fellow member of the Association of Chartered Certified Accountants and a certified public accountant of the Hong Kong Institute of Certified Public Accountants[146]. - Ms. Liu Mingfeng was appointed as an independent non-executive director on September 1, 2023, bringing over 20 years of experience in legal and corporate governance in Singapore and Malaysia[147]. - Mr. Yuen Chun Fai was appointed as an independent non-executive director on October 24, 2025, with over 20 years of experience in financial reporting, management, and auditing across Hong Kong, China, Malaysia, and Singapore[148]. - Ms. Chan Laam Chi was appointed as an independent non-executive director on November 28, 2025, with over a decade of experience in corporate finance and advisory services in Hong Kong's capital markets[149]. - Mr. Pang Hen Yong has been the chief technology officer since December 2012, responsible for strategic IT planning and budgeting for the Group[151]. - Mr. Wong Puh Yih, head of the research and development department, has been with the Group since April 2014, focusing on product development and design[154]. - Ms. Lee Chin Yee joined the Group in February 2018 as project director, overseeing various project implementations with over 20 years of experience in business and technology software[158]. - Ms. Lee has over 20 years of experience in business and technology software implementation and consulting in the financial services industry[162]. - Ms. Lee has led various projects, including a borrower credit information data mart project for Bank Negara Malaysia from 2009 to 2011[163]. - Ms. Ren has over four decades of experience in public service, healthcare education, and corporate management[166]. - Ms. Huang has over three decades of entrepreneurial and executive experience across the wellness, biotechnology, textile, and visual technology sectors in the PRC[169]. - Ms. Huang served as Chairwoman of Zhejiang Bangcheng Biotechnology Co., Ltd. from 2017 to 2024[168]. - Ms. Lee is currently involved in an E-Invoicing Submission System project for Alliance Bank Malaysia Berhad in 2024[163]. - Ms. Ren transitioned to the corporate sector in 2009, holding senior executive roles in biotechnology and trade[166]. - Ms. Huang operated a wholesale and retail business for cultural supplies at Luosiwan Market from 1991 to 2002[168]. - Ms. Lee has been involved in multiple projects for Bank Negara Malaysia, including an integrated statistical system project from 2011 to 2015[163]. - Ms. Huang actively contributes to public welfare initiatives, serving as Deputy Director of the China Campus Health Action Committee[169]. Market and Industry Trends - Significant potential for industrial transformation is anticipated in the next 10 years, particularly in the digital core banking sector[122]. - The Group has minimal exposure to foreign currency risk as most transactions are in Renminbi, Malaysian Ringgit, and Hong Kong dollars[100]. - The Group does not currently have a foreign currency hedging policy but monitors exposure closely[100].

Revenue Performance - Revenue for Q4 2025 was $230.0 million, an increase of 10.2% compared to $208.8 million in Q4 2024[10] - For the full year 2025, total revenue was $840.8 million, an increase of 8.0% from $778.3 million in 2024[8] - Total annual revenue for 2025 was $840.755 million, up 8.0% from $778.308 million in 2024[31] - Revenue from dine-in operations was $790.0 million, a 5.7% increase from $747.3 million in 2024, attributed to improved table turnover and customer traffic[15] - Takeout business revenue surged to $19.0 million, up 68.1% from $11.3 million in 2024, due to product optimization and strategic marketing partnerships[15] Customer Traffic and Sales - Total customer traffic exceeded 8.3 million, a year-on-year increase of 3.8% from 8.0 million in the same period of 2024[8] - Same-store sales revenue was $195.4 million, up 2.3% from $191.1 million in Q4 2024[8] - Total customer traffic reached 32 million in 2025, up from 29.9 million in 2024, representing an increase of approximately 7.0%[24] - Same-store sales for the year totaled $675.581 million, an increase from $656.654 million in 2024, reflecting a growth of approximately 2.9%[27] - The same-store average daily sales increased to $19.5 thousand in 2025 from $18.7 thousand in 2024, indicating improved performance[27] Profitability and Costs - Operating profit for Q4 2025 was $13.0 million, down from $17.5 million in Q4 2024[8] - Operating profit for the full year 2025 was $37.4 million, down from $53.3 million in 2024[8] - Operating profit for the year was $37.4 million, down from $53.3 million in 2024, with an operating margin of 4.4% compared to 6.8% in the previous year[17] - Restaurant-level operating profit margin decreased to 8.7% in 2025 from 10.1% in 2024, reflecting increased costs and operational challenges[20] - Cost of raw materials and consumables rose to $282.8 million, a 9.7% increase from $257.7 million in 2024, with the cost as a percentage of revenue increasing from 33.1% to 33.6%[16] Net Income and Earnings - Net profit for the year was $36.3 million, a 69.6% increase from $21.4 million in 2024, primarily due to a foreign exchange gain of $33.8 million[17] - Basic and diluted earnings per share for 2025 were $0.06, compared to a loss of $0.02 per share in 2024[14] - Net income for Q4 2025 was $4.474 million, a significant recovery from a net loss of $11.608 million in Q4 2024[31] - The company reported a basic and diluted earnings per share of $0.01 for Q4 2025, recovering from a loss of $0.02 in Q4 2024[31] Operational Metrics - The overall average table turnover rate was 4.0 times per day, compared to 3.9 times per day in Q4 2024[8] - Employee costs increased to $74.1 million, up 10.3% from $67.2 million in the same period of 2024, primarily due to restaurant network expansion and increased labor hours[13] - Average daily revenue per restaurant was $18.8 thousand in 2025, slightly up from $18.7 thousand in 2024[25] - Customer average spending was $25.4 in 2025, up from $25.0 in 2024, showing a positive trend in customer expenditure[24] Expansion and Network - The company opened 3 new Haidilao restaurants and closed 3, resulting in a net increase of 4 restaurants year-on-year[8] - The number of restaurants increased to 126 in 2025 from 122 in 2024, with notable growth in North America from 20 to 22 locations[24] - The company plans to continue expanding its restaurant network and enhancing customer experience to achieve steady growth in the global market[9] - The company operates in 14 countries across four continents, maintaining a strong international presence with its brand[28] Financial Position - Total assets increased to $745.883 million in 2025, up from $684.425 million in 2024[32][33] - Cash and cash equivalents at year-end 2025 were $271.990 million, compared to $254.719 million at the end of 2024[34] - Non-current liabilities rose to $207.407 million in 2025, up from $194.196 million in 2024[33] - Operating cash flow for the year 2025 was $114.648 million, slightly down from $119.696 million in 2024[34]