Financial Performance - The Group's revenue increased to approximately RMB249.7 million for the six months ended December 31, 2025, compared to approximately RMB179.8 million for the same period in 2024, representing a growth of 38.8%[12][20]. - Gross profit for the Reporting Period was approximately RMB27.7 million, with a gross profit margin of 11.11%, up from RMB10.3 million and 5.7% in the prior year[12][16]. - The Group recorded a loss of approximately RMB50.3 million for the Reporting Period, compared to a loss of RMB40.3 million for the same period in 2024[12][16]. - Revenue from the food products business increased to approximately RMB211.3 million, while the gross margin decreased to 0.8% from 3.1% in the previous year[14][17]. - Revenue from the food and beverage business amounted to RMB38.4 million, significantly up from RMB10.3 million in the prior year, indicating strong growth in this segment[18][19]. - The food products business accounted for 84.6% of total revenue, while the food and beverage business contributed 15.4% during the Reporting Period[21]. - The increase in overall revenue was primarily driven by an increase in sales volume of food products[19][20]. - The Group's gross profit margin increased to approximately 11.1% for the six months ended 31 December 2025, compared to 5.7% for the same period in 2024, primarily driven by the food and beverage business[23]. - Gross profit for the food products business was RMB6,511,000 with a margin of 3.1%, while the food and beverage business generated RMB21,229,000 with a margin of 55.2%[23]. Assets and Liabilities - Net current assets decreased from approximately RMB119.0 million as of 30 June 2025 to approximately RMB93.5 million as of 31 December 2025[33]. - Cash and cash equivalents increased to approximately RMB10.1 million as of 31 December 2025, up from RMB6.8 million as of 30 June 2025, with no bank borrowings[38]. - The gearing ratio improved to 0.47 as of 31 December 2025, down from 0.54 as of 30 June 2025[39]. - Non-current assets decreased to RMB15,192,000 from RMB18,761,000, indicating a reduction of 19.4%[102]. - Current assets decreased to RMB149,510,000 from RMB184,836,000, a decline of 19.1%[102]. - Trade receivables significantly dropped to RMB47,964,000 from RMB143,885,000, a decrease of 66.7%[102]. - As of December 31, 2025, total equity decreased to RMB84,111,000 from RMB103,820,000 as of June 30, 2025, representing a decline of approximately 18.9%[103]. - Non-current liabilities decreased from RMB33,946,000 as of June 30, 2025, to RMB24,531,000 as of December 31, 2025, a reduction of approximately 27.6%[103]. Share Capital and Fundraising - The company completed a placing of 30,820,000 shares on October 9, 2025, generating net proceeds of approximately HK$12.94 million, with intended allocations of 50% for the existing food business, 40% for the food and beverage business, and 10% for general working capital[58][67]. - A subsequent placing of 39,184,000 shares was completed on December 30, 2025, raising approximately HK$20 million, with allocations of 50% for the food business, 30% for the food and beverage business, and 20% for general working capital, expected to be fully utilized by December 2026[61][67]. - The total issued and fully paid shares increased to 258,431,000 shares with a total amount of RMB23,003,000 as of December 31, 2025, compared to 154,010,000 shares and RMB13,469,000 as of June 30, 2025[156]. - The issuance of new shares generated net proceeds of RMB30,244,000 during the six months ended December 31, 2025, compared to RMB12,638,000 in the same period of 2024, reflecting an increase of approximately 138.5%[108]. Market Conditions and Strategy - The consumer goods and retail sector in China remained sluggish in 2025, with deteriorating market conditions impacting consumer confidence and spending power[65]. - The company is focusing on optimizing core operations and refining supply chain management to navigate the challenging market environment and stabilize revenue streams[70][71]. - The Group aims to differentiate itself by offering a broad and convenient choice of safe and quality products, enhancing sales opportunities[13][17]. - Future strategies may include further market expansion and product development to enhance competitiveness in the food and beverage sector[10][11]. - The company aims to enhance market competitiveness and strive for steady development despite the challenging market conditions[70][71]. Governance and Compliance - The Company has adopted the Corporate Governance Code and considers it has complied with the code except for certain provisions[84]. - The roles of chairman and chief executive officer are held by the same individual, Ms. Wang Wana, which the Board believes does not impair the balance of power[87]. - The Audit Committee reviewed and discussed the interim results for the six months ended December 31, 2025, ensuring compliance with the Code[93]. - The auditor's report on the financial statements was unqualified, indicating no significant issues were raised[118]. Employee and Management Information - The Group had 212 full-time employees as of 31 December 2025, a decrease from 229 employees as of 30 June 2025[49]. - The remuneration for key management personnel totaled RMB3,254,000 for the six months ended December 31, 2025, down from RMB4,927,000 for the same period in 2024[161].

Financial Performance - For the fiscal year ending December 31, 2025, the company's revenue was RMB 2,314.26 million, a decrease of 2.93% compared to RMB 2,384.15 million in 2024[4] - The company's profit before tax for 2025 was RMB 155.14 million, down 13.90% from RMB 180.18 million in 2024[4] - Net profit attributable to equity shareholders for 2025 was RMB 109.37 million, a decline of 12.95% from RMB 125.64 million in 2024[4] - Basic earnings per share for 2025 were RMB 0.19, compared to RMB 0.29 in 2024[4] - The company's effective tax expense for 2025 was RMB 24,058,000, down from RMB 32,294,000 in 2024, indicating a reduction of approximately 25.6%[24] - The net profit for the reporting period was RMB 131.08 million, representing an 11.36% decline from RMB 147.88 million in the previous year[42] - The gross profit margin decreased to 18.16%, down from 19.28% in the previous year[41] - The net profit margin for the reporting period was 5.66%, down from 6.20% in the previous year[42] Revenue Breakdown - The company's revenue from cement additives and intermediates was RMB 1,126,887,000 in 2025, down from RMB 1,256,135,000 in 2024, representing a decrease of approximately 10.3%[15] - Revenue from concrete additives and intermediates increased to RMB 1,181,661,000 in 2025, up from RMB 1,124,194,000 in 2024, reflecting a growth of about 5.1%[15] - Total revenue from external customers in mainland China was RMB 2,285,834,000 in 2025, a decrease from RMB 2,382,747,000 in 2024, indicating a decline of approximately 4.1%[18] - The group's total revenue for the reporting period was RMB 2,314.26 million, a decrease of 2.92% compared to the previous year, primarily due to lower raw material prices and reduced cement consumption[44] Assets and Liabilities - The company's total assets as of December 31, 2025, were RMB 1,556.69 million, an increase from RMB 1,186.80 million in 2024[7] - Non-current liabilities rose to RMB 347.33 million in 2025, compared to RMB 258.94 million in 2024[8] - The company's equity attributable to equity shareholders increased to RMB 1,375.09 million in 2025 from RMB 990.63 million in 2024[8] - Total assets at the end of the reporting period were RMB 2,914.69 million, an increase of 18.52% from the previous year, with total liabilities rising by 4.90% to RMB 1,429.72 million[53] Cash Flow - The company's cash and cash equivalents increased significantly to RMB 426.56 million in 2025 from RMB 131.39 million in 2024[7] - The net cash generated from operating activities for the reporting period was RMB 201.85 million, an increase of RMB 35.07 million compared to the same period last year, primarily due to improved management of accounts receivable and accelerated collection of overdue debts[61] - The net cash used in investing activities for the reporting period was RMB 227.16 million, an increase of RMB 90.83 million year-on-year, mainly for the construction of new projects and the purchase of equipment[62] - The net cash generated from financing activities for the reporting period was RMB 320.59 million, an increase of RMB 385.76 million compared to the same period last year, primarily from funds raised through the initial public offering[63] Expenses - Employee costs increased to RMB 212,217,000 in 2025 from RMB 203,959,000 in 2024, marking an increase of approximately 4.9%[20] - The cost of inventory for 2025 was RMB 1,835,520,000, compared to RMB 1,744,729,000 in 2024, representing an increase of about 5.2%[21] - Distribution costs rose by 8.99% to RMB 62.04 million, mainly due to increased marketing expenses for market expansion[49] - Administrative expenses increased by 10.91% to RMB 174.20 million, attributed to higher advisory fees and increased personnel costs[50] - Research and development costs for 2025 were RMB 43.08 million, down from RMB 55.01 million in 2024[5] Shareholder Information - The board proposed a final cash dividend of RMB 0.16 per share for 2025, down from RMB 0.17 per share in 2024[4] - A proposed final cash dividend of RMB 0.16 per share is recommended for the fiscal year ending December 31, 2025, subject to shareholder approval[84] - The company will withhold a 10% corporate income tax on dividends distributed to non-resident H-share shareholders as per Chinese tax regulations[85] - Non-resident individual shareholders from countries with tax treaties with China may benefit from a 10% withholding tax rate on dividends, while those from countries with higher rates will be taxed accordingly[86] Corporate Governance - The company has fully complied with the corporate governance code as per the listing rules since its H shares were listed on January 9, 2025[79] - The audit committee has reviewed the consolidated financial statements and confirmed compliance with applicable accounting standards[82] - The company has not repurchased, sold, or redeemed any of its listed securities since the listing date[81] Future Plans - The company plans to focus on high-quality business development by enhancing revenue and efficiency, targeting key economic zones in China, and expanding its product offerings[74] - The company aims to deepen international market penetration by expanding its global sales network and exploring high-demand regions such as the Middle East and North Africa[74] - The company plans to change the intended use of the net proceeds as disclosed in the prospectus, with further details to be announced[78]

Financial Performance - Revenue for the year ending December 31, 2025, was RMB 4,815.07 million, an increase of 19.81% compared to the previous year[3]. - Gross profit reached RMB 3,685.40 million, reflecting a growth of 20.49% year-over-year[3]. - EBITDA was RMB 1,125.21 million, up RMB 332.84 million from RMB 792.38 million in the previous year[3]. - Net profit attributable to equity holders was RMB 272.44 million, a significant increase of RMB 479.87 million from a loss of RMB 207.43 million in the previous year[3]. - Basic earnings per share were RMB 0.56, while diluted earnings per share were RMB 0.55[3]. - Total revenue for the year ended December 31, 2025, was RMB 4,815,065,000, an increase from RMB 4,018,905,000 in 2024, representing a growth of approximately 19.8%[76]. - Gross profit for the same period was RMB 3,685,395,000, compared to RMB 3,058,631,000 in 2024, indicating a gross margin improvement[76]. - Net profit for the year was RMB 270,034,000, a significant increase from RMB 24,803,000 in 2024, reflecting a growth of over 1,087%[78]. - The company reported total comprehensive income of RMB 262,367,000 for the year, up from RMB 25,636,000 in the previous year[79]. - The company generated substantial operating cash flow, which supports ongoing investments in R&D, production, and marketing[75]. - The company reported a foreign exchange loss of RMB 7,667,000 due to currency fluctuations affecting its overseas subsidiaries[79]. - The company aims to enhance its product portfolio and expand market share through continuous innovation and development efforts[75]. - The company reported a net profit of RMB 272,442,000 for the year, which includes a foreign exchange loss of RMB 7,363,000[84]. - The company’s total comprehensive income for the year includes a special dividend declared by a subsidiary amounting to RMB 584,431,000[84]. Research and Development - The pharmaceutical industry in China is experiencing strong growth driven by economic recovery and policy support, with a focus on innovative drug development[4]. - The company has over 150 approved drugs and has launched 4 innovative drugs, with 50 innovative drugs in development, of which more than 10 are in Phase II or III clinical trials[14]. - The company employs nearly 1,000 R&D personnel, including scientists with extensive experience in multinational pharmaceutical companies[14]. - The company is focusing on core therapeutic areas and has established a competitive innovative drug pipeline through self-innovation strategies[14]. - The company has established an advanced AI-driven model to enhance its innovation capabilities in drug development[14]. - The company plans to accelerate the R&D and commercialization of innovative drugs and biopharmaceuticals to enhance long-term growth[119]. - For the fiscal year ending December 31, 2025, the group reported a total R&D expenditure of RMB 648.69 million, a decrease of 26.92% compared to the same period last year[124]. - The company aims to enhance its core competitiveness and shareholder returns by focusing on R&D, production, and commercialization of innovative drugs and generics[145]. Market and Product Development - The introduction of a commercial health insurance catalog for innovative drugs includes 19 high-priced innovative drugs, marking a significant policy shift[8]. - The number of innovative drugs approved in China has reached a historical high, indicating a shift from "catching up" to "leading" in drug development capabilities[10]. - Internationalization of Chinese innovative drug companies is accelerating, with a notable increase in overseas licensing deals and a shift towards independent commercialization[11]. - The company has successfully submitted a Biologics License Application (BLA) for insulin injection in the U.S. and has achieved overseas licensing for one innovative drug[14]. - The company is developing a triple therapy for hepatitis B, combining siRNA, ASO, and immune regulators to achieve functional cure[30]. - The company is focused on creating a "AI + pharmaceutical" research ecosystem to benefit global patients through innovative drug development strategies[54]. - The company aims to enhance its global capital market position and business flexibility through more agile financing methods, aspiring to become a leading pharmaceutical listed company[149]. Financial Position and Assets - Total assets increased to 7,342,070 thousand RMB from 6,952,754 thousand RMB, representing a growth of approximately 5.6%[82]. - The company's cash and cash equivalents stood at 1,486,796 thousand RMB, slightly up from 1,480,810 thousand RMB, indicating a stable liquidity position[82]. - Total liabilities rose to 6,037,850 thousand RMB from 4,814,251 thousand RMB, marking an increase of approximately 25.3%[82]. - The company's current liabilities increased to 3,197,746 thousand RMB from 2,196,225 thousand RMB, which is a significant rise of about 45.6%[82]. - The company’s total liabilities decreased, indicating improved financial stability and reduced risk exposure[83]. - The total assets of the group as of December 31, 2025, amounted to RMB 11,992.74 million, with total liabilities of RMB 7,654.76 million and equity attributable to shareholders of RMB 4,337.98 million[130]. Awards and Recognition - The group was recognized in the "2025 China Pharmaceutical R&D Strength Ranking TOP 100," highlighting its innovation capabilities in the pharmaceutical industry[60]. - The group received the "2025 China Pharmaceutical Industry Comprehensive Competitiveness Top 100" award, emphasizing its leadership in pharmaceutical R&D and sustainable development[60]. - The group was awarded the "2025 Innovative Value Listed Company" award, recognizing its role in leading industry innovation and future trends[63]. - The group received the 25th China Patent Gold Award for its invention patent on "Phosphate Oseltamivir Granules and Their Preparation Method," recognizing its innovation in the field[59]. Corporate Governance - The company has maintained high standards of corporate governance and complied with all applicable corporate governance codes during the reporting period[156]. - The audit committee has reviewed the company's annual performance announcement and the consolidated financial statements prepared in accordance with international financial reporting standards[159]. - The annual performance announcement is published on the Hong Kong Stock Exchange's disclosure website and the company's website[160]. - The executive directors include Dr. Zhang Yingjun and Dr. Li Wenjia, while the non-executive directors consist of several individuals including Mr. Zhang Yushua and Mr. Tang Xinfang[160].

Financial Performance - In 2025, the company achieved a revenue of approximately RMB 460.3 million, a decrease of 16.5% compared to RMB 551.1 million in 2024[8] - The operating profit for 2025 was RMB 23.97 million, down from RMB 38.83 million in 2024, reflecting a decline of 38.2%[8] - The net profit for 2025 was approximately RMB 7.64 million, a decrease of 21.3% from RMB 9.71 million in 2024[11] - Revenue for the year ended December 31, 2025, decreased by RMB 90.8 million to RMB 460.3 million from RMB 551.1 million in 2024, primarily due to a decline in revenue from telecommunications infrastructure services and digital solutions[21] - Revenue from telecommunications infrastructure services decreased by RMB 65.4 million to RMB 445.3 million in 2025, accounting for 96.7% of total revenue, down from 92.7% in 2024[22] - Revenue from digital solutions services fell by RMB 27.2 million to RMB 13.2 million in 2025, representing 2.9% of total revenue, down from 7.3% in 2024[22] - The group reported that the total transaction value of its top five customers accounted for 97.1% of total revenue, with the largest customer contributing 38.1%[85] - The total transaction value of the group's top five suppliers represented 80.9% of total procurement costs, with the largest supplier accounting for 42.2%[85] Assets and Liabilities - The company’s non-current assets increased to RMB 108.66 million in 2025 from RMB 92.49 million in 2024, marking a growth of 17.5%[8] - Current assets rose to RMB 1.40 billion in 2025, up from RMB 1.31 billion in 2024, indicating an increase of 5.7%[8] - The total equity attributable to shareholders was RMB 431.54 million in 2025, slightly up from RMB 423.90 million in 2024, showing a growth of 1.5%[8] - The total bank loans amounted to approximately RMB 565.0 million as of December 31, 2025, with various interest rates and repayment terms[40] - As of December 31, 2025, the company's debt-to-equity ratio is 1.3 times, up from 0.9 times on December 31, 2024, primarily due to an increase in bank loan balances[42] - As of December 31, 2025, the company has pledged assets with a book value of approximately RMB 1,168.9 million for bank loans and financing, compared to RMB 991.6 million as of December 31, 2024[48] Operational Efficiency and Strategy - The company plans to enhance operational efficiency and cost control measures to mitigate the impact of macroeconomic challenges on its business[11] - The company plans to focus on core telecommunications operator clients and expand into AI and other new business areas to diversify revenue sources[13] - The company aims to enhance its research and development investment in telecommunications infrastructure, big data analysis, and AI algorithm optimization to drive service upgrades[13] - The company emphasizes operational efficiency and cost control to improve resource utilization and withstand market fluctuations[13] - The company will explore mergers and acquisitions and strategic partnerships to accelerate scale expansion and industry upgrades[14] Expenses and Profitability - The group’s sales cost decreased from RMB 444.8 million for the year ended December 31, 2024, to RMB 391.7 million during the reporting period, a reduction of RMB 53.1 million, consistent with the decline in revenue[24] - Gross profit fell from RMB 106.2 million for the year ended December 31, 2024, to RMB 68.5 million during the reporting period, a decrease of RMB 37.7 million, aligning with the drop in revenue[25] - The overall gross margin decreased by 4.4 percentage points compared to 2024, primarily due to a decline in revenue from higher-margin digital solutions services[26] - Administrative expenses decreased from RMB 26.1 million for the year ended December 31, 2024, to RMB 14.5 million during the reporting period, a reduction of RMB 11.6 million, attributed to lower professional service fees post-IPO[29] - Research and development expenses decreased from RMB 25.7 million for the year ended December 31, 2024, to RMB 16.1 million during the reporting period, a reduction of RMB 9.6 million, as the company focused on early-stage R&D in telecom infrastructure and AI[30] - The pre-tax profit decreased from RMB 23.5 million for the year ended December 31, 2024, to RMB 3.6 million during the reporting period, a decline of RMB 19.9 million, primarily due to reduced revenue[33] Cash Flow and Financial Position - The net cash used in operating activities during the reporting period was approximately RMB 246.4 million, influenced by a pre-tax profit of approximately RMB 3.6 million and significant cash outflows from working capital changes[36] - As of December 31, 2025, the group's cash and cash equivalents were RMB 36.8 million, a decrease of RMB 98.1 million from RMB 135.0 million on December 31, 2024, mainly due to cash outflows from operating activities[40] - The company has not made any significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[49] - The company has no future plans for significant investments or acquisitions of capital assets as of the report date[50] - The company has not incurred any capital commitments during the reporting period[46] Governance and Compliance - The company strictly complies with laws and regulations affecting its operations, including those related to telecommunications services and foreign investments[82] - There were no significant violations or non-compliance with applicable laws and regulations during the reporting period[83] - The company has adopted and complied with all applicable code provisions under the corporate governance code[149] - The board is responsible for all significant matters, including policy issues, strategy, and financial reporting[154] - The company has established a remuneration committee to review and recommend compensation for directors and senior management[103] - The audit committee reviewed the financial statements and confirmed compliance with applicable accounting standards and regulations[143] - The company has established four committees under the board, including the audit committee, to oversee specific areas of governance[171] Shareholder and Director Information - The board consists of nine directors, including six executive directors and three independent non-executive directors[156] - The chairman and CEO roles are held by the same individual, Liu Haokong, which the board believes enhances unified leadership and effective execution of administrative functions[160] - The company will propose the reappointment of KPMG as auditors at the upcoming annual general meeting[145] - The company has no available reserves for distribution to shareholders as of December 31, 2025[93] - The company made donations of approximately RMB 0.2 million during the reporting period[91] Stock Option Plan - The stock option plan was adopted on June 17, 2024, and is valid for a period of 10 years, with approximately 8 years and 3 months remaining as of the report date[109] - The maximum number of shares that may be issued under the stock option plan is capped at 10% of the total issued shares as of the listing date, equating to 64,000,000 shares[114] - The sub-limit for shares to be issued to service providers under the stock option plan is set at 6,400,000 shares, representing 1% of the total issued shares as of the listing date[114] - The vesting period for any stock options granted cannot be less than 12 months from the grant date, and the options must be exercised within 10 years from the grant date[123] - The company has not granted, exercised, canceled, or allowed any stock options to expire under the stock option plan since its adoption until the report date[125] Risk Management and Internal Controls - The board is responsible for the continuous supervision of the group's risk management and internal control systems, reviewing their effectiveness at least annually[194] - The group has established an audit committee to review and oversee the financial reporting process and internal control systems[195] - The group has adopted a whistleblowing policy to promote compliance, ethical behavior, and good corporate governance[196] - The group has implemented an anti-corruption policy as an integral part of its corporate governance framework[198] - The board has reviewed the effectiveness of the internal control and risk management systems and deemed them effective and sufficient[195]

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。 Q P GROUP HOLDINGS LIMITED 雋思集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1412） 截至二零二五年十二月三十一日止年度 全年業績公告 二零二五年業績摘要 – 1 – • 截至二零二五年十二月三十一日止年度（「二零二五年財政年度」），雋思 集團控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）的總收益約 為1,125.4百萬港元，較截至二零二四年十二月三十一日止年度（「二零二四 年財政年度」）減少約7.1%。於二零二五年財政年度，來自原始設備製造商 （「OEM」）銷售及網站銷售的收益分別佔總收益的約77.9%及22.1%。 • 於二零二五年財政年度，本集團的本公司權益股東應佔溢利約為59.4百萬 港元，較二零二四年財政年度減少約54.0%。 • 於二零二五年財政年度，本公司的每股基本盈利約為11.16港仙（二零二四 年財政年度：約為24.27港仙）。 ...

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） 年度業績公告 截至2025年12月31日止年度 北京華昊中天生物醫藥股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公 司及其附屬公司（ 統稱「本集團」）截至2025年12月31日止年度的經審核綜合業績，連同截至 2024年12月31日止年度的經審核比較數字。該等年度業績已由本公司審計委員會審閱並經 董事會於2026年3月30日同意。 在本公告內，「我們」及「我們的」均指本公司，如文義另有所指，則指本集團。本公告所載 若 干 金 額 及 百 分 比 數 字 已 約 整 或 已 四 捨 五 入 至 小 數 點 後 一 位 或 兩 位 數（ 如 適 用 ）。 任 何 表 格、圖表 ...

Financial Performance - The company's revenue for the year ended December 31, 2025, was RMB 785.58 million, a decrease of RMB 66.75 million or 7.8% compared to RMB 852.33 million in 2024[3]. - Gross profit fell to RMB 154.01 million, down RMB 179.38 million or 53.8% from RMB 333.39 million in the previous year[3]. - The net loss attributable to shareholders was RMB 77.72 million, a decline of RMB 223.36 million or 153.4% compared to a profit of RMB 145.65 million in 2024[3]. - Adjusted net loss attributable to shareholders was RMB 41.94 million, a decrease of RMB 217.66 million or 123.9% from an adjusted profit of RMB 175.72 million in 2024[3]. - Basic and diluted loss per share were both RMB (14.10), representing a decline of 152.9% and 154.1% respectively compared to RMB 26.68 and RMB 26.08 in the previous year[3]. - The group recorded a net loss attributable to the company's owners of RMB 77.7 million for the year ended December 31, 2025, compared to a net profit of RMB 145.6 million for the year ended December 31, 2024[12]. - The group’s revenue from private education services decreased from RMB 852,327 thousand in 2024 to RMB 785,580 thousand in 2025, representing a decline of approximately 7.8%[47]. - The group reported a net loss attributable to owners of the company of RMB 77,718 thousand in 2025, compared to a profit of RMB 145,645 thousand in 2024, reflecting a significant decline in performance[56]. - Basic loss per share for 2025 was RMB (14.10), down from earnings of RMB 26.68 per share in 2024, indicating a substantial negative shift in profitability[56]. Operational Costs and Expenses - The overall increase in operational costs, including rent and salaries, has negatively affected gross and net profit in the short term[10]. - Sales costs increased by 21.7% to RMB 631.6 million, primarily due to higher teacher salaries and the expansion of learning centers[15]. - Administrative expenses rose by 23.0% to RMB 157.3 million, reflecting increased personnel costs associated with business expansion[15]. - The group incurred a net loss of RMB 26,778 thousand in 2025 from other (losses)/gains, compared to a gain of RMB 14,503 thousand in 2024, showing a significant deterioration in this area[52]. - Employee benefit expenses decreased from RMB 624,166 thousand in 2024 to RMB 493,131 thousand in 2025, a reduction of about 20.9%[53]. - The group’s financial costs, including bank loan interest expenses, increased from RMB 12,932 thousand in 2024 to RMB 10,333 thousand in 2025[53]. Business Strategy and Expansion - The company is expanding its business strategy in Guangdong Province, with new learning centers in Guangzhou showing promising enrollment and operational performance[10]. - New learning centers are offering lower-priced trial courses to attract students, which has resulted in lower initial revenue but aims to convert trial participants into paying students[10]. - The group plans to enhance its "Le Xue" brand development and diversify its offerings in quality education, including arts, sports, and international literacy[12]. - The company aims to maintain a strong cash flow and control costs while leveraging technology and artificial intelligence to improve service quality and operational efficiency[13]. Financial Position and Assets - Total equity increased to RMB 803.4 million as of December 31, 2025, up from RMB 634.8 million in 2024, representing a growth of 26.5%[17]. - Cash and cash equivalents rose by 21.0% to RMB 472.7 million from RMB 390.7 million in 2024, primarily due to net cash inflows from operating and financing activities[17]. - Current assets increased to RMB 711.6 million, up from RMB 556.0 million in 2024, with significant contributions from financial assets at fair value and cash balances[17]. - Current liabilities grew to RMB 601.8 million, compared to RMB 480.3 million in 2024, with contract liabilities at RMB 286.0 million, up from RMB 241.1 million[17]. - The asset-liability ratio as of December 31, 2025, was 8.7%, an increase from 6.3% in 2024, indicating a higher leverage position[17]. - Total assets increased to RMB 1,649,631, up 24.2% from RMB 1,327,425 in 2024[33]. - Non-current assets rose to RMB 938,053, an increase of 21.6% from RMB 771,384 in 2024[33]. - Total liabilities increased to RMB 846,253, a rise of 22.2% from RMB 692,582 in 2024[34]. Shareholder and Governance Matters - The board does not recommend a final dividend for the year ending December 31, 2025, maintaining a focus on reinvestment[26]. - The company has no major contingent liabilities or pending litigation as of December 31, 2025, ensuring a stable risk profile[23]. - The company maintained compliance with all applicable corporate governance codes as of December 31, 2025[69]. - The company is committed to maintaining compliance with the listing rules of the Hong Kong Stock Exchange[75]. - The board includes both executive and independent non-executive directors, ensuring a diverse governance structure[76]. - The company has adopted a share incentive plan on December 28, 2020, which is part of its corporate governance strategy[75]. - The stock option plan approved on June 3, 2019, will terminate upon the adoption of the share plan on February 27, 2024[77]. Future Outlook - The company is focused on future business outlook and financial performance estimates based on current available data[76]. - The board emphasizes that forward-looking statements involve risks and uncertainties, and should not be overly relied upon by shareholders and potential investors[76]. - The board's statements are based on various forecasts and assumptions, which may not materialize in the future[76].

Financial Performance - Revenue for the year ending December 31, 2025, was HKD 271,075,000, a decrease of 33.7% compared to HKD 408,591,000 in the previous year[4] - Gross profit for the same period was HKD 169,729,000, down 33.5% from HKD 255,128,000 year-on-year[4] - The net profit for the year was HKD 21,688,000, a significant decrease of 119.6% compared to a loss of HKD 110,562,000 in the previous year[4] - Total revenue for the year ended December 31, 2025, was CNY 271,075,000, a decrease of 33.7% compared to CNY 408,591,000 in 2024[5] - Gross profit for 2025 was CNY 169,729,000, down 33.5% from CNY 255,128,000 in 2024[5] - Net income for the year was CNY 21,688,000, compared to a net loss of CNY 110,562,000 in 2024[7] - Total comprehensive income for the year was CNY 14,248,000, compared to a total comprehensive loss of CNY 103,796,000 in 2024[7] Market Challenges - The company anticipates continued challenges in the market, impacting future performance and growth strategies[4] - The company is facing pressure on overall profits due to ongoing price competition in the industry[41] - The company is actively seeking new growth points amid industry challenges[41] Operational Metrics - The total number of used cars traded and serviced was 299,000, representing a decline of 27.4% from an estimated 412,000 in the previous year[4] - The company provided value-added services for approximately 141,000 used cars, a decrease of 34.6% compared to 206,000 in the previous year[4] - The number of used cars sold through auctions was around 17,000, down 31.6% from the previous year[4] - The total number of vehicles uploaded for auction was approximately 310,000, a decrease from about 394,000 in 2024[59] Revenue Breakdown - Revenue from second-hand car auction commissions and service fees was RMB 179,453 thousand in 2025, down from RMB 262,952 thousand in 2024, reflecting a decline of about 31.7%[16] - Revenue from second-hand car value-added services was RMB 42,059 thousand in 2025, compared to RMB 69,041 thousand in 2024, representing a decrease of approximately 39.1%[16] - Revenue from second-hand car sales arrangement was RMB 36,325 thousand in 2025, down from RMB 49,564 thousand in 2024, showing a decline of about 26.7%[16] Cost Management - Operating expenses, including selling and administrative expenses, totaled CNY 145,930,000, a decrease from CNY 214,466,000 in 2024[5] - The total cost of sales for the second-hand vehicle auction business was 82,366 thousand RMB, down from 118,039 thousand RMB, showing a reduction of approximately 30.2%[24] - Selling and distribution expenses decreased by 27.5% to RMB 58.3 million from RMB 80.4 million for the year ended December 31, 2024, mainly due to reduced payroll expenses from a decrease in personnel[76] Asset and Liability Management - Total non-current assets decreased to RMB 74,352 million in 2025 from RMB 92,074 million in 2024, representing a decline of approximately 19.2%[8] - Total liabilities for current liabilities were RMB 236,302 million in 2025, compared to RMB 262,285 million in 2024, reflecting a reduction of approximately 9.9%[9] - The company reported a cash and cash equivalents balance of RMB 827,464 million in 2025, down from RMB 1,046,599 million in 2024, a decrease of about 21%[8] Strategic Initiatives - The company is focusing on enhancing its service offerings and expanding its market presence to recover from the downturn[4] - The company plans to enter the overseas market in 2026, with the first batch of used cars expected to be shipped abroad in April, marking a significant step in its international expansion[48] - The company aims to enhance cooperation with new energy vehicle manufacturers to improve the assessment and trading capabilities of used new energy vehicles[68] Research and Development - Investment in research and development increased by 15.0% to HKD 12.5 million, up from HKD 8.2 million[110] - The company plans to enhance its digital tools using artificial intelligence for analyzing second-hand vehicle images, with an investment of HKD 2.4 million, representing a 2.4% increase[110] Corporate Governance - The company maintains a strong commitment to corporate governance and compliance with listing rules[100] - The audit committee believes that the consolidated financial statements comply with applicable accounting standards and regulations[104]

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。 MINISO Group Holding Limited 名創優品集團控股有限公司 （於開曼群島註冊成立的有限責任公司） （股份代號：9896） 截至2025年12月31日止財政年度的年度業績公告 名創優品集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本 公司及其附屬公司（「本集團」）截至2025年12月31日止財政年度（「報告期」）的綜 合年度業績連同截至2024年12月31日止財政年度的比較數字。該等年度業績已由 董事會審計委員會（「審計委員會」）審閱。 於本公告中，「我們」、「我們的」及「名創優品」指本公司及本集團（除文義另有所 指）。 財務表現摘要 截至12月31日止財政年度 | | 2024年 | 2025年 | | --- | --- | --- | | | （人民幣（「人民幣」）千元， | | | | 百分比及每股數據除外） | | | 收入 | 16,994,025 ...

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，概不就因本公佈全部或任 何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 TRANSTECH OPTELECOM SCIENCE HOLDINGS LIMITED 高 科 橋 光 導 科 技 股 份 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：9963） 截至二零二五年十二月三十一日止年度之 全年業績公佈 高科橋光導科技股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈 本公司及其附屬公司（統稱「本集團」）截至二零二五年十二月三十一日止年度之 經審核合併財務業績如下： 合併財務狀況表 於二零二五年十二月三十一日 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 非流動資產 | | | | | 物業、廠房及設備 | | 208,992 | 225,965 | | 購買物業、廠房及設備的按金 | | – | 3,881 | | ...