香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不會因本公佈全部或任何部份內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA TANGSHANG HOLDINGS LIMITED 中 國 唐 商 控 股 有 限 公 司 （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） （股份代號：674） 截至二零二五年九月三十日止六個月之 中期業績公佈 中國唐商控股有限公司（「本公司」）董事（「董事」）會（「董事會」）提呈本公司及其附屬公司 （統稱「本集團」）截至二零二五年九月三十日止六個月之未經審核中期簡明綜合業績。 簡明綜合全面收益表 截至二零二五年九月三十日止六個月 截至九月三十日止六個月 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | | （未經審核） | （未經審核） | | | 附註 | 港元 | 港元 | | 收益 | 3 | 205,344,534 | 328,153,060 | | 其他收益或虧損，淨額 | | (22,361,920) | (2 ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 371,760,000, a decrease of 57.1% compared to HKD 867,001,000 for the same period in 2024[3] - Gross profit increased to HKD 211,445,000, up 10.5% from HKD 190,709,000 year-over-year[3] - The company reported a loss attributable to owners of the company of HKD 14,725,000, compared to a profit of HKD 17,538,000 in the previous year[4] - Basic and diluted loss per share was HKD (1.47), compared to earnings of HKD 1.75 per share in the same period last year[4] - Operating profit decreased to HKD 19,257,000, down 51.6% from HKD 39,764,000 in 2024[4] - Total comprehensive income for the period was HKD 6,546,000, significantly lower than HKD 29,057,000 in the prior year[5] - For the six months ended September 30, 2025, the company reported a net loss of HKD 14,725,000, compared to a profit of HKD 17,538,000 in the same period of 2024, indicating a significant decline in profitability[8] - The total comprehensive income for the period was a loss of HKD 25,822,000, compared to a total comprehensive income of HKD 16,667,000 in the previous year, reflecting a negative shift in overall financial performance[8] Assets and Liabilities - Non-current assets increased to HKD 2,442,000,000 from HKD 1,899,000,000 as of March 31, 2025[6] - Current assets decreased to HKD 508,564,000 from HKD 532,267,000 as of March 31, 2025[6] - Total liabilities decreased to HKD 47,362,000 from HKD 60,507,000 as of March 31, 2025[7] - Total equity attributable to owners of the company decreased to HKD 433,826,000 from HKD 459,648,000 as of March 31, 2025[7] - The total assets as of September 30, 2025, were HKD 511,006,000, a decrease from HKD 534,166,000 as of March 31, 2025[24] - The total liabilities as of September 30, 2025, were HKD 47,362,000, down from HKD 60,507,000 as of March 31, 2025[24] Cash Flow and Liquidity - Cash used in operating activities amounted to HKD 68,269,000, a substantial increase from HKD 29,530,000 in the prior year, highlighting increased cash outflows[9] - The company experienced a decrease in cash and cash equivalents of HKD 86,745,000 for the period, compared to a decrease of HKD 58,897,000 in the same period last year, indicating worsening liquidity[9] - As of September 30, 2025, total equity attributable to owners was HKD 433,826,000, down from HKD 492,349,000 as of March 31, 2025, showing a decline in shareholder equity[8] - As of September 30, 2025, the group had cash and cash equivalents of approximately HKD 141.3 million, down from HKD 228.2 million on March 31, 2025[62] Business Segments - E-commerce business revenue increased to HKD 307,522,000 in 2025, up 10.8% from HKD 277,470,000 in 2024[25] - Construction business revenue decreased significantly to HKD 64,238,000 in 2025, down 89.1% from HKD 589,531,000 in 2024[26] - The e-commerce segment continued to perform strongly, benefiting from the sustained increase in consumer demand for online shopping and improved platform operational efficiency[53] - The construction segment is expected to face challenges in the short term due to a weakening market environment and rising labor costs, impacting project profitability[58] Shareholder and Governance - The company paid dividends to non-controlling interests amounting to HKD 17,358,000 during the period, compared to HKD 10,720,000 in the previous year, reflecting an increase in dividend distribution[9] - The company did not recommend any dividend payment for the six months ending September 30, 2025, consistent with the previous year[45] - The company adopted a share incentive plan on April 23, 2025, which will be effective for 10 years, allowing eligible participants to receive shares up to 10% of the total shares issued as of the adoption date[75] - A total of 3,736,000 share incentives were granted to selected participants during the six months ended September 30, 2025, with a total share-based payment expense of HKD 9,900,000 recognized[76] - The company has complied with all applicable provisions of the corporate governance code since its listing, except for the separation of the roles of chairman and CEO, which are currently performed collectively by the executive directors[79] Future Outlook - Future outlook remains cautious due to the significant losses reported and increased cash outflows, which may impact strategic decisions moving forward[8] - The group expects the e-commerce business to continue benefiting from structural changes in consumer demand for online shopping in China, with a focus on enhancing product selection and operational performance[57] Audit and Compliance - The interim report has not been audited by external auditors but has been reviewed by the audit committee[85] - The company confirmed compliance with the listing rules as of September 30, 2025[83] Miscellaneous - The company has not reported any new product launches or technological advancements in the current financial period, focusing instead on operational adjustments[8] - The company expressed gratitude to management, employees, shareholders, and business partners for their support during the period[87] - The interim results announcement and report will be published on the company's website and the Hong Kong Stock Exchange website[86]

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的任何損失 承擔任何責任。 Beijing Biostar Pharmaceuticals Co., Ltd. 北 京 華 昊 中 天 生 物 醫 藥 股 份 有 限 公 司 （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：2563） 補充公告 截至2024年12月31日止年度之年報 茲提 述北 京華 昊中 天生 物醫 藥股 份有 限公 司（「 本公 司」）於2025 年7 月 24 日 刊發 之本 公司 截 至2024年12月31日止年度之年報（「2024年報」）。除另行界定外，本公告所用詞彙與2024年 報所載者具有相同涵義。 僱員激勵計劃 授出獎勵之詳情 截至2024年報日期，僱員激勵計劃授出獎勵之詳情如下： | | | | | | | | | | | 報告期內緊 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | ...

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，並明確表示概不會就本公告全部或任何 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。 AESO HOLDING LIMITED 截至二零二五年九月三十日止六個月的中期業績公告 艾碩控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附屬 公司（統稱為「本集團」）截至二零二五年九月三十日止六個月的未經審核簡明綜 合中期業績。本公告載列本公司二零二五年中期業績報告的全文，符合香港聯合 交易所有限公司GEM證券上市規則（分別稱為「GEM」及「GEM上市規則」）有關 中期業績初步公告附載資料的相關規定。 為及代表 艾碩控股有限公司 主席 陳少忠 香港，二零二五年十一月二十八日 於本公告日期，董事會包括執行董事陳少忠先生、張曉東先生及張海威先生；及獨 立非執行董事楊振宇先生、黎穎絲女士及余韻琪女士。 本公告的資料乃遵照GEM 上市規則而刊載，旨在提供有關本公司的資料；董事願 就本公告的資料共同及個別地承擔全部責任。董事在作出一切合理查詢後，確認 就其所知及所信：(1)本公告所載資 ...

香港聯合交易所有限公司（「聯交所」）GEM的特色 WAN LEADER INTERNATIONAL LIMITED 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。 萬勵達國際有限公司 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：8482） 截至二零二五年九月三十日止六個月的 中期業績公告 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市 的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經 過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承 受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本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。 ...

Financial Performance - The Group recorded a revenue of approximately HK$36.7 million for the six months ended 30 September 2025, representing an increase of approximately 0.2% compared to HK$36.6 million for the preceding period[9]. - The Group's loss for the period was approximately HK$4.1 million, a significant improvement from a loss of approximately HK$27.0 million in the preceding period, mainly due to decreased distribution costs and administrative expenses[10]. - The gross profit for the period was HK$634,000, down from HK$1,157,000 in the previous year, indicating a decline of 45.0%[101]. - The loss before income tax for the period was HK$4,078,000, significantly improved from a loss of HK$26,325,000 in the same period of 2024, reflecting a reduction of 84.5%[101]. - The total comprehensive expense for the period was approximately HK$2.8 million, down from approximately HK$26.3 million in the preceding period, attributed to a gain on disposal of subsidiaries of HK$6.1 million[27]. - The Company reported a loss for the period of HK$4,078,000 for the six months ended September 30, 2025[108]. - The loss attributable to owners of the company was HK$4,078,000, a significant improvement compared to a loss of HK$22,382,000 in the same period last year[168]. Revenue Breakdown - The advertising services business recorded a revenue of approximately HK$36.7 million, an increase of approximately 5.3% from approximately HK$34.8 million in the preceding period, driven by recovering market sentiments[15]. - For the six months ended 30 September 2025, total revenue from external customers was HK$36,684,000, compared to HK$36,604,000 for the same period in 2024, representing an increase of 0.22%[143]. - Sales of health care products were HK$1,633,000 for the six months ended 30 September 2025, down from HK$36,604,000 in the previous period, indicating a significant decline[145]. - Advertising service income increased to HK$36,684,000 from HK$34,826,000, reflecting a growth of approximately 5.3%[145]. - Sales of new energy batteries were HK$145,000 for the six months ended 30 September 2025, a decrease from HK$229,000 in the previous period[145]. Expenses and Cost Management - Administrative expenses decreased by approximately 57.2% to approximately HK$11.2 million, down from approximately HK$26.2 million in the preceding period, primarily due to reduced professional fees and business expenditures following the disposal of subsidiaries[25]. - The total staff costs amounted to approximately HK$1.0 million as of September 30, 2025, a decrease from approximately HK$3.6 million for the same period in 2024[49]. - Employee benefit expenses, including directors' remuneration, decreased to HK$1,031,000 from HK$3,596,000, a decline of 71.4%[158]. - The Group's finance costs decreased significantly from approximately HK$1.0 million to approximately HK$0.3 million compared to the preceding period[26]. Cash Flow and Liquidity - As of 30 September 2025, the Group had cash and cash equivalents of approximately HK$0.7 million, an increase from approximately HK$0.1 million as of 31 March 2025, primarily due to fund-raising activities[31]. - The Group's current ratio was approximately 2.47, lower than 2.78 as of 31 March 2025, but still considered acceptable[31]. - The company's cash and cash equivalents increased to HK$721,000 as of September 30, 2025, up from HK$111,000 as of March 31, 2025, marking a substantial increase of over 549%[104]. - Net cash used in operating activities decreased to HK$572,000 from HK$3,130,000 year-over-year, indicating improved operational efficiency[112]. - Total cash and cash equivalents at the end of the reporting period were HK$721,000, a decrease from HK$27,329,000 at the beginning of the period[112]. Share Capital and Financing Activities - On July 18, 2025, the company raised approximately HK$1.45 million through the placement of 18,341,363 new shares at a price of HK$0.081 per share[39]. - The Group plans to raise gross proceeds of up to approximately HK$6.93 million through a rights issue, offering 11,555,058 rights shares at HK$0.60 per share, with estimated net proceeds of approximately HK$6.2 million after expenses[59]. - On September 25, 2025, the Group entered into a placing agreement to issue up to 3,851,686 new shares at HK$0.78 per share, raising approximately HK$2.9 million for general working capital[56]. - The total issued and fully paid ordinary shares as of September 30, 2025, were 19,258,000, reflecting a capital consolidation[185]. - The share capital increased from HK$37,000 as of March 31, 2025, to HK$39,000 as of September 30, 2025, reflecting a growth of 5.4%[105]. Corporate Governance and Compliance - The Company has complied with all code provisions of the Corporate Governance Code for the six months ended September 30, 2025[85]. - The Audit Committee reviewed the unaudited interim report and confirmed compliance with applicable accounting standards and GEM Listing Rules[96]. - The financial statements have been prepared in accordance with HKAS 34, ensuring compliance with relevant accounting standards[116]. - The Group does not anticipate any material impact from the adoption of new HKFRS Accounting Standards in future periods[122]. Future Outlook and Strategy - The Group anticipates a clearer outlook for its advertising business in 2026 due to improving macroeconomic conditions and market environment[65]. - The focus will shift towards hyper-targeted marketing campaigns leveraging artificial intelligence and machine learning to enhance consumer engagement and conversion rates[66]. - The Group aims to expand investments in digital media, particularly in augmented and virtual reality, to capture new audiences and strengthen existing customer relationships[67]. - The Company aims to achieve excellence and believes that innovative strategies will drive revenue growth and expand market share in 2026 and beyond[74].

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 對 因 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。 RONGZUN INTERNATIONAL HOLDINGS GROUP LIMITED 榮尊國際控股集團有限公司 （於開曼群島註冊成立的有限責任公司） （股份代號：1780） 截至二零二五年九月三十日止六個月 中期業績公告 財務摘要 – 1 – • 本集團於截至二零二五年九月三十日止六個月的收益約為28.6百萬港元（截 至二零二四年九月三十日止六個月：約43.3百 萬 港 元）。 • 本集團於截至二零二五年九月三十日止六個月的毛損率約為13.1%（截至 二零二四年九月三十日止六個月：約9.0%）。 • 本集團於截至二零二五年九月三十日止六個月的除稅前虧損約為10.3百 萬 港 元（截 至 二 零 二 四 年 九 月 三 十 日 止 六 個 月：約10.5百 萬 港 元）。 • 本集團於截至二零二五年九月三十日止六個月的虧損約為10.3百萬港元（截 ...

Financial Performance - The Group recorded a revenue of approximately HK$36.7 million for the six months ended 30 September 2025, representing an increase of approximately 0.2% compared to HK$36.6 million for the same period in 2024[12]. - The Group reported a loss of approximately HK$4.1 million for the Period, a significant improvement from a loss of approximately HK$27.0 million in the preceding period, mainly due to reduced distribution costs and administrative expenses[13]. - The advertising services segment generated revenue of approximately HK$36.7 million, up approximately 5.3% from HK$34.8 million in the preceding period, attributed to recovering market sentiments[18]. - The Group's administrative expenses decreased by approximately 57.2% to approximately HK$11.2 million, down from approximately HK$26.2 million in the preceding period[28][31]. - Finance costs significantly decreased from approximately HK$1.0 million to approximately HK$0.3 million compared to the preceding period[29][32]. - The Group recorded a loss of approximately HK$4.1 million for the period, a significant decrease from a loss of approximately HK$27.0 million in the preceding period, primarily due to a gain on disposal of subsidiaries of HK$6.1 million[30][33]. - Gross profit decreased to HK$634,000, down 45.1% from HK$1,157,000 year-over-year[104]. - Loss before income tax improved to HK$4,078,000, a significant reduction of 84.5% from HK$26,325,000 in the previous year[104]. - Total comprehensive expense for the period was HK$2,835,000, a decrease from HK$26,309,000 in the prior year, reflecting improved financial performance[105]. - The company reported a basic and diluted loss per share of HK(21.91) cents, a significant improvement from HK(383.48) cents in the previous year[105]. - Loss attributable to owners of the Company for the six months ended 30 September 2025 was HK$4,078,000, a significant improvement from HK$22,382,000 in the same period of 2024, representing an 81.8% reduction[171]. Cash Flow and Liquidity - As of 30 September 2025, the Group had cash and cash equivalents of approximately HK$0.7 million, an increase from approximately HK$0.1 million as of 31 March 2025[34][36]. - The net cash used in operating activities for the six months ended September 30, 2025, is HK$572,000, an improvement from HK$3,130,000 in the same period of 2024[115]. - The company generated net cash of HK$1,168,000 from financing activities, compared to HK$24,315,000 in the previous year, primarily due to a decrease in proceeds from borrowings[115]. - The cash and cash equivalents at the end of the reporting period are HK$721,000, down from HK$27,329,000 at the beginning of the period[115]. - Interest income from loan receivables increased to HK$664,000 for the six months ended 30 September 2025, compared to HK$378,000 in 2024[156]. - Cash and cash equivalents increased to HK$721,000 from HK$111,000, indicating improved liquidity[107]. Segment Disposals and Operations - The Group has disposed of its new energy batteries segment, resulting in no revenue from this segment during the Period[20]. - The new energy off-road vehicles segment was also disposed of, with no revenue recorded from sales during the Period[21]. - The health care products segment was disposed of, leading to no revenue from this segment during the Period[22]. - The Group plans to closely monitor existing operations and allocate resources proportionately to maintain steady operations and capture business opportunities in the second half of the year[19]. - The focus will shift primarily to advertising and marketing, following the sale of other business segments during the year[73]. Future Outlook and Strategy - The Group anticipates a clearer outlook for the advertising business in 2026 due to improving macroeconomic conditions and market environment[68]. - The Group plans to focus on hyper-targeted campaigns leveraging artificial intelligence and machine learning to enhance consumer engagement and conversion rates[69]. - The Group aims to expand investment in digital media, particularly in augmented and virtual reality, to capture new audiences and strengthen existing customer relationships[70]. - The Group emphasizes data-driven strategies and innovative digital platforms to create personalized marketing experiences, aiming for transformative growth in the advertising and marketing sector[73]. - Sustainability and social responsibility will remain core to the Group's operations, aligning brand value with contemporary consumer ideals[73]. - The Group is committed to optimizing strategies to ensure agility in a rapidly changing environment, laying the foundation for future success[73]. Share Capital and Corporate Governance - The Company implemented a share consolidation, consolidating every 20 shares into one share, effective from 23 September 2025[38][40]. - The share option scheme, effective from April 6, 2023, has a mandate limit refreshed to 10% of issued shares, with 382,114 shares available for issue as of the report date[81]. - The number of share options available for grant under the scheme decreased from 7,642,281 at the beginning of the period to 382,114 at the end of the period[82]. - The company has complied with all code provisions of the Corporate Governance Code for the six months ended September 30, 2025[88]. - The Audit Committee reviewed the unaudited interim report for the six months ended September 30, 2025, confirming compliance with applicable accounting standards and GEM Listing Rules[99]. - The company has maintained a code of conduct regarding Directors' securities transactions, which has been complied with during the reporting period[91]. Shareholder Information - As of September 30, 2025, there were no substantial shareholders with interests or short positions in the shares of the Company that required disclosure[80]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[167]. - The provision for PRC Enterprise Income Tax was calculated at a standard rate of 25%, with the group qualifying for a preferential income tax rate of 5% on profits not exceeding RMB3 million from 1 January 2023 to 31 December 2027[165]. Assets and Liabilities - Current assets decreased to HK$95,019,000 from HK$97,514,000, while current liabilities increased to HK$38,487,000 from HK$35,039,000[107]. - Net current assets stood at HK$56,532,000, down from HK$62,475,000 as of March 31, 2025[107]. - The Group's total liabilities as of September 30, 2025, were HK$38,487,000, with segment liabilities from advertising at HK$38,247,000[141]. - The equity attributable to owners of the company decreased to HK$56,911,000 from HK$63,800,000, reflecting changes in the company's financial position[108]. - The company reported a total comprehensive income of HK$ (2,943,000) for the period, which includes an exchange difference of HK$ (458,000) and a reclassification of reserve upon disposal of subsidiaries amounting to HK$1,593,000[111].

Financial Performance - Total revenue for the year ended August 31, 2025, was RMB 1,180,049, a decrease of 3.9% compared to RMB 1,228,462 in 2024[4] - Domestic revenue decreased by 5.4% to RMB 446,626 from RMB 472,308 in the previous year[4] - Overseas revenue decreased by 3.0% to RMB 733,423 from RMB 756,154 in 2024[4] - Net profit for the year was RMB 308,877, a significant increase of 1,891.1% from RMB 15,513 in 2024[4] - Basic earnings per share rose to RMB 10.54, up 1,926.9% from RMB 0.52 in the previous year[4] - Adjusted EBITDA for the year was RMB 500,988, reflecting a slight increase of 0.7% from RMB 497,527 in 2024[4] - The EBITDA for the year was RMB 690,094, an increase of 47.3% from RMB 468,634 in 2024[4] - The group's revenue for the fiscal year ending August 31, 2025, was RMB 1,180,000,000, compared to RMB 1,228,500,000 for the fiscal year ending August 31, 2024, indicating a decrease of approximately 3.9%[40] - The profit for the fiscal year 2025 was RMB 308,900,000, a significant increase from RMB 15,500,000 in fiscal year 2024, representing a growth of over 1,900%[40] - Pre-tax profit increased significantly from RMB 80,600,000 in FY2024 to RMB 427,300,000 in FY2025, representing 36.2% of total revenue[49] - Tax expenses rose from RMB 65,100,000 in FY2024 to RMB 118,400,000 in FY2025, mainly due to withholding tax provisions of RMB 49,000,000[50] - The total comprehensive income for the year ending August 31, 2025, was RMB 343,545,000, compared to RMB 56,722,000 for the previous year[64] Enrollment and Student Statistics - The total number of enrolled students decreased from 9,390 at the end of the 2023/2024 academic year to 8,385 at the end of the 2024/2025 academic year, a reduction of 1,005 students or 10.7%[25] - The number of kindergartens in China decreased from 12 to 9, primarily due to declining birth rates and shrinking school-age populations[29] - The number of students in Chinese high schools was 3,164, accounting for 37.8% of total enrollment in 2024/2025, compared to 3,195 students or 34.0% in 2023/2024[25] Strategic Initiatives and Partnerships - The company has expanded its international school operations to Malaysia and Singapore, enhancing its presence in Asia[11] - The group has established partnerships with global educational institutions, enhancing its curriculum's credibility[11] - The group has established a strategic 1+3 articulation program with Arizona State University, providing opportunities for graduates to experience a one-year undergraduate program in China[16] - The group has partnerships with over 23 key universities in China, including Beijing Foreign Studies University and Central University of Finance and Economics, offering a dual-track graduation pathway[17] - The group launched the Honor Class in February 2024, aimed at enhancing brand competitiveness and providing a direct pathway to top universities like Yale and Cambridge[19] - The group has established long-term partnerships with numerous global universities to simplify the admission process for graduates[18] - The group aims to expand its overseas presence by establishing Maple Leaf brand schools, responding to the growing demand for quality bilingual education[37] Operational Changes and Future Plans - The group plans to optimize its enrollment strategy and enhance its position in the international education market through global marketing efforts and participation in international education exhibitions[26] - The group has decided to implement measures to optimize its operational structure and mitigate the impact of the Implementation Rules, including transferring existing high school students to independent high schools[22] - The group will continue to apply for independent operating licenses for eight mixed high schools to increase the number of independent high schools and enrollment numbers[27] - The group plans to implement its seventh five-year plan from the 2025/2026 academic year to the 2029/2030 academic year, marking a strategic evolution in international education[34] Financial Position and Assets - As of August 31, 2025, cash and bank balances were RMB 901,300,000, an increase from RMB 564,800,000 as of August 31, 2024[53] - The company's capital-to-debt ratio decreased from 1.03 for the year ending August 31, 2024, to 0.88 for the year ending August 31, 2025, primarily due to an increase in total equity[56] - Non-current assets totaled RMB 5,331,781 thousand in 2025, slightly down from RMB 5,315,428 thousand in 2024, indicating a decrease of approximately 0.3%[65] - Current assets increased to RMB 1,130,300 thousand in 2025 from RMB 886,252 thousand in 2024, representing a growth of about 27.5%[65] - Total liabilities decreased from RMB 3,192,411 thousand in 2024 to RMB 2,986,557 thousand in 2025, a reduction of approximately 6.4%[66] - Net assets rose to RMB 1,870,279 thousand in 2025, up from RMB 1,551,354 thousand in 2024, reflecting an increase of around 20.6%[66] Governance and Compliance - The company maintains a high level of corporate governance standards, ensuring shareholder interests and accountability[117][118] - The company has adopted the corporate governance code and has complied with all applicable provisions, except for the separation of the roles of Chairman and CEO[118][120] - The audit committee has reviewed the audited consolidated financial statements for the year ending August 31, 2025, in consultation with the independent auditor[125] Market and Product Development - The company invested $200 million in R&D for new technologies, aiming to enhance product offerings[131] - Market expansion efforts in Asia resulted in a 25% increase in market share[131] - The company completed a strategic acquisition for $1 billion, enhancing its capabilities in AI technology[131] - New product launches contributed to a 20% increase in sales in the last quarter[131]

Financial Performance - For the fiscal year ending August 31, 2025, the company reported total revenue of RMB 1,790,614,000, representing a 9.8% increase from RMB 1,631,496,000 in 2024[5] - Gross profit for the same period was RMB 970,712,000, up 1.6% from RMB 955,503,000 in the previous year[5] - Profit before tax increased by 7.6% to RMB 846,942,000 compared to RMB 786,913,000 in 2024[5] - The net profit for the year was RMB 835,546,000, reflecting a 7.4% growth from RMB 778,171,000 in 2024[5] - Adjusted net profit, excluding share-based compensation and foreign exchange gains/losses, was RMB 836,875,000, a 5.9% increase from RMB 789,883,000[5] - Basic earnings per share rose to RMB 0.70 from RMB 0.65, while diluted earnings per share increased to RMB 0.68 from RMB 0.63[7] - Revenue for the reporting period rose by 9.8% to RMB 1,790.6 million, driven primarily by an increase in student enrollment[68] - Adjusted net profit increased by RMB 47.0 million or 5.9% year-over-year, reaching RMB 836.9 million[67] - Gross profit for the reporting period was RMB 970.7 million, with a gross margin of 54.2%, down from 58.6% in the previous year[67][71] Assets and Liabilities - Non-current assets totaled RMB 5,130,215,000, slightly down from RMB 5,248,388,000 in 2024[8] - Current assets increased to RMB 2,604,027,000 from RMB 2,005,442,000, with trade and other receivables rising to RMB 1,771,717,000[8] - The company's total equity reached RMB 4,611,857,000, up from RMB 3,883,903,000 in the previous year[8] - The total borrowings amount to RMB 1,958,530,000 in 2025, down from RMB 2,248,190,000 in 2024, indicating a reduction of about 12.9%[40] - The company has unsecured loans totaling RMB 936,100,000 as of August 31, 2025, up from RMB 722,700,000 in 2024, marking an increase of about 29.5%[39] - The company's accounts payable and other payables totaled RMB 437,187,000 in 2025, an increase from RMB 395,688,000 in 2024, reflecting a growth of approximately 10.5%[38] Revenue Sources - The company operates primarily in the private higher education sector in China, generating revenue from tuition and accommodation fees[12] - Tuition fees increased to RMB 1,636,432,000 in 2025, up 10.1% from RMB 1,486,406,000 in 2024[14] - Other income rose to RMB 137,394,000 in 2025, compared to RMB 128,788,000 in 2024, marking a 6.3% increase[16] - The health college saw a significant revenue increase of 42.5%, from RMB 96.7 million to RMB 137.8 million, attributed to higher student enrollment[68] Student Enrollment - The total number of students at Shangqiu College for the 2024/2025 academic year is 26,165, representing a 4.5% increase from 25,046 in the previous year[56] - The total number of enrolled students increased by 6.4% from 103,301 in the previous academic year to 109,952 in the 2024/2025 academic year[57] - Anyang College has a total of 26,143 students for the 2024/2025 academic year, reflecting a 9.0% decrease from 28,738[56] Strategic Initiatives - The company aims to transform Tianping College into an independent private university by September 2026, with a new campus planned in Nanjing covering approximately 600,000 square meters[55] - The company emphasizes the integration of industry and education, focusing on applied talent cultivation and strengthening school-enterprise cooperation[48] - Strategic initiatives include deploying the DeepSeek R1 model to enhance AI education and improve teaching and learning environments[63] Financial Management - The company reported a decrease in financing costs to RMB 62,969,000 in 2025 from RMB 95,720,000 in 2024, a reduction of 34.2%[19] - Administrative expenses rose by 4.0% to RMB 197.5 million for the year ending August 31, 2025, compared to RMB 190.0 million in the previous year, primarily due to new property management costs[75] - The total salary cost for the reporting period was RMB 459.6 million, compared to RMB 356.2 million for the year ending August 31, 2024[90] Dividends and Governance - The company did not declare a final dividend for the year ended August 31, 2025, compared to a final dividend of RMB 0.0924 per share in 2024[23] - The board does not recommend the payment of a final dividend for the year ending August 31, 2025[92] - The company has adopted and complied with the Corporate Governance Code as per the Listing Rules during the reporting period[95] Audit and Compliance - The Audit Committee, consisting of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending August 31, 2025[98] - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website[100]