Financial Performance - Total operating revenue for Q3 2025 reached RMB 7,426,888,299.87, representing a year-on-year increase of 12.72%[9] - Net profit attributable to shareholders for the same period was RMB 1,301,063,153.19, reflecting a growth of 9.53% compared to the previous year[9] - The company reported a net profit excluding non-recurring gains and losses of RMB 1,316,501,209.75, which is a 16.89% increase year-on-year[9] - Operating profit for the first three quarters of 2025 reached ¥6.62 billion, a 24.3% increase from ¥5.35 billion in the same period of 2024[29] - Net profit for the first three quarters of 2025 was ¥5.76 billion, up 24.7% compared to ¥4.62 billion in 2024[29] - The company reported a total comprehensive income of ¥5.78 billion for the first three quarters of 2025, compared to ¥4.60 billion in 2024, reflecting a 25.6% increase[30] Cash Flow - The net cash flow from operating activities surged to RMB 4,809,977,038.87, marking a significant increase of 209.78% year-to-date[10] - Cash flow from operating activities for the first three quarters of 2025 was ¥9.11 billion, significantly higher than ¥4.59 billion in 2024, representing a 98.5% increase[34] - The company’s operating cash inflow totaled ¥26.97 billion in the first three quarters of 2025, up from ¥20.55 billion in 2024, marking a 31.5% increase[34] - Cash and cash equivalents as of September 30, 2025, were CNY 40.36 billion, significantly higher than CNY 24.82 billion at the end of 2024, representing a growth of 62.5%[24] - Total cash and cash equivalents at the end of the first three quarters of 2025 amounted to ¥39.77 billion, compared to ¥21.46 billion at the end of 2024, indicating a 85.5% increase[35] - Cash inflow from financing activities in the first three quarters of 2025 was ¥10.78 billion, compared to ¥799 million in 2024, showing a substantial increase[35] Assets and Liabilities - Total assets as of the end of the reporting period amounted to RMB 68,327,540,485.78, up 36.29% from the previous year[13] - Total assets as of September 30, 2025, were CNY 68.33 billion, up from CNY 50.14 billion at the end of 2024, marking an increase of 36.2%[25] - Total liabilities as of September 30, 2025, were CNY 8.30 billion, compared to CNY 4.05 billion at the end of 2024, reflecting a growth of 105.5%[25] - The company's equity attributable to shareholders increased to CNY 59.50 billion as of September 30, 2025, from CNY 45.52 billion at the end of 2024, an increase of 30.7%[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 397,258, with no preferred shareholders reported[19] - The number of shareholders holding ordinary shares totaled 397,258, with 397,246 being A-share holders as of the report date[21] - The company has no related party relationships or concerted actions among the top ten shareholders[21] Expenses - Total operating costs for the first three quarters of 2025 were CNY 16.92 billion, up from CNY 15.09 billion in 2024, reflecting a growth of 12.1%[28] - Research and development expenses for the first three quarters of 2025 amounted to CNY 4.95 billion, compared to CNY 4.55 billion in 2024, indicating an increase of 8.9%[28] Investment Activities - The company reported a net investment loss of CNY 40.82 million for the first three quarters of 2025, compared to a loss of CNY 31.42 million in the same period of 2024[28] - The company received cash from investment activities totaling ¥188 million in the first three quarters of 2025, down from ¥251 million in 2024[34] Earnings Per Share - Basic earnings per share for the reporting period were RMB 0.20, up 5.26% year-on-year[10] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.89, an increase from ¥0.73 in 2024[30] Return on Equity - The weighted average return on equity decreased by 0.24 percentage points to 2.51% for the reporting period[10]

Financial Performance - The company's operating revenue for Q3 2025 was RMB 24,515,087,883.37, a decrease of 16.91% compared to the same period last year[8]. - The total profit for the period was RMB 993,893,581.80, reflecting a decline of 13.19% year-on-year[8]. - Net profit attributable to shareholders was RMB 732,347,717.52, down 16.79% from the previous year[8]. - The net profit after deducting non-recurring gains and losses was RMB 685,536,530.09, a decrease of 13.46% compared to the same period last year[8]. - The basic earnings per share for Q3 2025 was RMB 0.1007, down 16.90% year-on-year[8]. - Total operating revenue for the first three quarters of 2025 was CNY 75.04 billion, a decrease of 12.6% compared to CNY 85.87 billion in the same period of 2024[26]. - Net profit for the first three quarters of 2025 was CNY 2.91 billion, down 4.1% from CNY 3.04 billion in 2024[27]. - Basic earnings per share for 2025 was CNY 0.3684, compared to CNY 0.3891 in 2024, indicating a decline of 5.5%[27]. - Net profit for the first three quarters of 2025 reached CNY 2,112,563,579.87, compared to CNY 2,518,502,828.00 in the first three quarters of 2024, reflecting a decline of 16.06%[34]. Cash Flow - The cash flow from operating activities for the year-to-date was RMB 582,310,190.23, showing a significant increase of 40.24%[8]. - Cash flow from operating activities generated a net amount of CNY 582.31 million in 2025, an increase of 40.2% from CNY 415.24 million in 2024[30]. - Cash inflow from operating activities for the first three quarters of 2025 was approximately $3.60 billion, compared to $4.06 billion in the same period of 2024, representing a decrease of about 11.4%[36]. - Net cash flow from operating activities was negative at approximately -$375.67 million for the first three quarters of 2025, compared to -$255.96 million in 2024, indicating a worsening cash flow situation[36]. - Cash inflow from investment activities increased to approximately $3.68 billion in 2025 from $4.66 billion in 2024, showing a decline of about 21.1%[36]. - Net cash flow from investment activities was approximately $1.05 billion in 2025, contrasting sharply with a negative cash flow of about -$1.52 billion in 2024[36]. - Cash inflow from financing activities was approximately $2.36 billion in 2025, down from $5.98 billion in 2024, reflecting a decrease of about 60.6%[37]. - Net cash flow from financing activities was negative at approximately -$1.71 billion in 2025, compared to -$473.63 million in 2024, indicating increased financial strain[37]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 81,765,947,044.82, an increase of 5.92% from the end of the previous year[8]. - The company's current assets totaled RMB 40,202,593,834.29, up from RMB 35,634,997,641.75, indicating an increase of about 14.5% year-over-year[22]. - The total liabilities reached RMB 39,262,803,232.26, compared to RMB 35,154,821,919.36 in the previous period, reflecting an increase of approximately 11.9%[23]. - The total equity attributable to shareholders increased to RMB 39,778,730,271.54 from RMB 39,567,594,762.30, a growth of about 0.5%[23]. - The total assets as of September 30, 2025, amounted to CNY 46,500,230,337.20, an increase from CNY 45,890,225,038.10 at the end of 2024[32]. - Total liabilities increased to CNY 19,435,181,859.80 as of September 30, 2025, compared to CNY 18,494,574,084.54 at the end of 2024[32]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 43,483[19]. - The largest shareholder, China Foreign Trade Group Corporation, holds 2,525,339,831 shares, accounting for 34.73% of total shares[19]. - The top ten shareholders collectively hold a significant portion of the company’s shares, with the largest three shareholders accounting for over 83% of total shares[19]. Operational Metrics - Contract logistics volume reached 38.24 million tons, up from 37.47 million tons year-on-year, representing a growth of 2.06%[15]. - Sea freight agency volume increased to 11.79 million TEUs, compared to 10.96 million TEUs in the same period last year, reflecting a growth of 7.52%[16]. - Cross-border e-commerce logistics volume decreased to 0.46 billion parcels, down from 1.60 billion parcels year-on-year, a decline of 71.25%[17]. - The company’s air freight channel business volume was 664,000 tons, down from 753,000 tons year-on-year, a decrease of 11.83%[16]. - The logistics e-commerce platform handled 2.917 million TEUs, an increase from 1.877 million TEUs year-on-year, representing a growth of 55.38%[17]. - The railway agency volume was 392,000 TEUs, down from 448,000 TEUs year-on-year, a decline of 12.50%[16]. - The company’s warehouse service volume reached 21.55 million tons, up from 20.16 million tons year-on-year, an increase of 6.89%[16]. Government Subsidies - The company received government subsidies totaling RMB 1.259 billion for the period from January to September 2025, primarily related to its logistics operations[12]. Research and Development - Research and development expenses decreased to CNY 78.26 million in 2025 from CNY 124.34 million in 2024, a reduction of 37.0%[26]. - Research and development expenses for the first three quarters of 2025 were CNY 21,834,683.52, down from CNY 28,206,435.04 in the same period of 2024, a decrease of 22.67%[34]. Investment Income - The company reported an increase in investment income to CNY 1.63 billion in 2025, up from CNY 1.47 billion in 2024, representing an increase of 11.2%[26]. - The company reported investment income of CNY 2,336,630,253.82 for the first three quarters of 2025, compared to CNY 2,828,177,264.63 in the same period of 2024, a decrease of 17.43%[34]. Financial Position - The company's cash and cash equivalents decreased to RMB 12,932,251,478.54 from RMB 13,467,664,505.98, a decline of about 4.0%[22]. - The company's inventory stood at RMB 54,771,976.07, slightly down from RMB 56,259,409.64, a decrease of approximately 2.6%[22]. - The total non-current assets remained stable at RMB 41,563,353,210.53, showing a marginal increase from RMB 41,560,502,496.10[22]. - The company reported a decrease in short-term borrowings to RMB 1,424,248,561.73 from RMB 3,294,191,564.22, a reduction of approximately 56.7%[23]. - The long-term borrowings decreased to RMB 2,576,652,353.70 from RMB 3,268,291,437.12, indicating a decline of about 21.2%[23]. - The company’s short-term borrowings decreased to CNY 350,615,864.26 from CNY 1,981,557,305.56 at the end of 2024, a decline of 82.32%[32]. - The company did not apply new accounting standards or interpretations for the year 2025, indicating continuity in financial reporting practices[38].

Financial Performance - For the year ended June 30, 2025, the Group's revenue was approximately HK$451.2 million, representing an increase of approximately 63.9% compared to HK$275.2 million for the year ended June 30, 2024[32][35]. - The Group recorded a loss attributable to owners of approximately HK$314.0 million for the year ended June 30, 2025, an increase of approximately 71.8% from the loss of approximately HK$182.8 million for the year ended June 30, 2024[33][36]. - The basic loss per share for the year ended June 30, 2025, was approximately HK38.04 cents, compared to approximately HK23.37 cents for the previous year[34][37]. - Operating expenses for the year were approximately HK$825.2 million, reflecting an increase of approximately 44.6% from HK$570.6 million in 2024[55][59]. - Finance costs increased to approximately HK$116.1 million, representing a rise of approximately 215.3% compared to HK$36.8 million in 2024[72]. - The Group recorded other gains, net of approximately HK$33.7 million, compared to other losses of approximately HK$54.1 million in 2024[57][61]. - The Group's total borrowings as of June 30, 2025, were approximately HK$1,072.0 million, compared to approximately HK$532.8 million in 2024, with a significant portion repayable after two years[87]. - The current ratio decreased to approximately 75.9% in 2025 from 129.5% in 2024, while the gearing ratio increased to approximately 74.7% from 53.8%[86]. - The Group's bank balances and cash as of June 30, 2025, were approximately HK$242.4 million, up from approximately HK$145.3 million in 2024[87]. - The Group's net current liabilities and net liabilities were approximately HK$188.7 million and HK$89.6 million, respectively, as of June 30, 2025[93]. - The Group's total liabilities to total assets ratio was approximately 104.5% in 2025, compared to 83.6% in 2024[86]. Electric Vehicles and Sustainability - The Group is focused on addressing climate change and meeting "zero carbon" or "carbon neutrality" targets through the promotion of electric commercial vehicles[15]. - The penetration rate of electric commercial vehicles is rapidly increasing, with successful deployment in various scenarios such as mining, ports, and urban freight[16]. - The transition from fuel-powered to electric commercial vehicles represents a disruptive replacement of a multi-trillion-dollar existing market[16]. - Advancements in battery and charging technologies, along with improved infrastructure, are expected to enhance the advantages of electric commercial vehicles[16]. - The shift to electric vehicles will create a new industrial chain ecosystem, including complete vehicles, battery spare parts, and charging infrastructure[16]. - The Group aims to provide innovative electric mobility solutions to contribute to global environmental protection and greenhouse gas emission control[26]. - The electric commercial vehicle market is projected to disrupt a multi-trillion dollar existing market, with a focus on replacing traditional fuel vehicles in logistics[19]. - The Group aims to enhance brand influence and expand its product portfolio in the new energy automobiles sector while building a green energy ecosystem for electric vehicles[45][49]. Market Expansion and Investments - The Group plans to expand into Southeast Asian markets, including Singapore, Malaysia, Thailand, and Vietnam, to enhance its market presence[20]. - The Group has invested in several residential and commercial properties in Phnom Penh, Cambodia, providing a stable income stream despite a challenging investment environment[24]. - The management remains optimistic about Cambodia's economic prospects and aims for steady growth in property investments[24]. Football Club Performance - The football club segment recorded a loss of approximately HK$409 million, representing a year-on-year increase of approximately 44.4%[21]. - The football club segment generated revenue of approximately HK$299.3 million, a year-on-year increase of approximately 24.9%, but recorded a segment loss of approximately HK$409.0 million, up approximately 44.4%[39][43]. - The football club is set to compete in the EFL Championship for the 2025/26 season after being promoted from EFL League One[39]. Management and Governance - The management team emphasizes strategic flexibility and commitment to core missions to navigate market cycles and seize opportunities[26]. - The company has a diverse board with members possessing expertise in various sectors, including finance, education, and corporate governance[141][144][145][147][152]. - The board includes independent non-executive directors who contribute to the company's governance and strategic oversight[145][147][152]. - The company emphasizes the importance of corporate governance and strategic development through its experienced leadership team[138][144][145]. - The leadership team is well-equipped to navigate market challenges and drive the company's growth strategy[138][144][145][152]. Financial Risks and Challenges - The Group's financial condition may be influenced by fluctuations in the global economy and specific market conditions, posing business risks[115]. - The Group is exposed to financial risks including interest rate, foreign currency, credit, and liquidity risks in its ordinary course of business[116]. - The Group acknowledges the potential adverse effects of international political risks on trade and economic activities, which could impact its business operations[122]. - The Group's financial performance may be affected by global economic conditions and market instability, highlighting the importance of monitoring economic trends[119]. Compliance and Regulations - The Group has complied with all relevant laws and regulations during the year ended June 30, 2025, with no material breaches reported[123]. - The Group is committed to environmental sustainability and complies with local environmental protection laws and regulations[129]. - The Group actively monitors cash flows to ensure sufficient liquidity to meet operational needs and commitments, reducing liquidity risk[121]. Shareholder Information - The Board does not recommend the payment of a final dividend for the year ended June 30, 2025, consistent with the previous year[159][165]. - As of June 30, 2025, the Company's distributable reserves amounted to approximately HK$135,749,000, an increase from approximately HK$123,451,000 in 2024[170][176]. - The Company operates in sectors including a professional football club in the UK, new energy automobiles, and property investment in Cambodia[157][164].

△ 按2021年12月供股而作出調整 CONTENTS 目錄 | 2 | Financial Highlights | | --- | --- | | | 財務撮要 | | 3 | Corporate Information | | | 企業資料 | | 5 | Chairperson's Statement | | | 主席報告 | | 8 | Management Discussion and Analysis | | | 管理層討論及分析 | | 40 | Directors and Senior Management Profile | | | 董事及高層管理人員 | | 44 | Directors' Report | | | 董事會報告 | | 57 | Corporate Governance Report | | | 企業管治報告 | | 83 | Independent Auditor's Report | | | 獨立核數師報告 | | 90 | Consolidated Statement of Profit or Loss and Other Comprehensive Income ...

Financial Performance - Revenue for the year ended June 30, 2025, was HK$151.28 million, slightly down from HK$152.28 million in 2024, but up from HK$128.74 million in 2023, reflecting three years of strong sales performance[6]. - Adjusted profit for 2025 was HK$27.06 million, a significant increase from HK$5.72 million in 2024 and HK$9.69 million in 2023[6]. - The Group reported total revenue of approximately HK$151 million for the twelve months ended June 30, 2025, a decrease of approximately 0.7% compared to HK$152 million for fiscal year 2024[42]. - Profit attributable to owners of the Group increased to approximately HK$27.1 million, compared to HK$5.7 million in the prior period, reflecting a significant improvement in profitability[46]. - The gross margin percentage remained stable, indicating consistent profitability from core operations throughout the year[47]. - Distribution costs decreased to approximately HK$25.9 million from HK$27.5 million, attributed to reduced sales[48]. - General and administrative expenses rose by 4.6% to approximately HK$56.9 million, compared to HK$54.4 million in the previous period[49]. - Finance costs decreased to approximately HK$0.3 million from HK$0.5 million in the previous fiscal year[50]. Financial Position - Cash and cash equivalents increased from approximately HK$109.3 million in 2024 to approximately HK$138.7 million in 2025, indicating a strong cash position[17]. - Total assets increased to HK$307.58 million in 2025 from HK$242.42 million in 2024, reflecting growth in the company's financial position[6]. - Equity attributable to owners of the Company rose to HK$222.11 million in 2025, up from HK$165.41 million in 2024[6]. - As of June 30, 2025, the company had approximately HK$138.7 million in liquid assets, up from HK$109 million in 2024, indicating a healthy financial position[123]. - The Group maintained a strong financial position with a net current asset value of approximately HK$135.4 million, up from HK$98 million in 2024, and had no borrowings as of June 30, 2025[127]. - The Group's current assets were approximately HK$217.3 million, compared to HK$172 million in 2024, while current liabilities were about HK$82 million, an increase from HK$74 million in 2024[127]. - The financial cost for the year ended June 30, 2025, was approximately HK$334,000, a decrease from HK$505,000 in 2024[128]. Market and Growth Strategy - The market growth is driven by the modernization of outdated communication systems, with over 80% of critical communicators expected to adopt advanced LTE and 5G technologies by the end of 2025[20]. - The Group continues to invest in new technologies and platforms to position itself as a leader in critical messaging solutions despite facing domestic and international challenges[18]. - The Group's strategic investments in technology, branding, and market expansion position it for growth despite a challenging economic environment[28]. - The company aims to enhance its market presence through the development of innovative products and solutions[167]. - The company targets growth in core markets of Healthcare and Emergency Services in the UK while exploring new markets[101]. Product Development and Innovation - The Group's Research and Development Team is focused on delivering enhanced, secure digital solutions to replace outdated systems, improving efficiency and ensuring secure communication[19]. - The launch of the Multitone Nucleus™ cloud-based messaging solution, developed in partnership with AWS, enhances the Group's market position and offers a resilient, device-agnostic critical messaging application[25]. - The upcoming Multitone Evolve™ device will support critical messaging solutions in healthcare markets, with additional investment in Project Aura to develop successors to the EkoTek® product family[27]. - The recent product launch, Multitone NucleusTM, is positioned as a central hub for real-time communication in critical industries, representing a significant development for the company[102]. - The Multitone Nucleus™ platform is positioned as a comprehensive integrated safety solution for emergency communication, targeting healthcare and public safety sectors, with a subscription model creating stable revenue sources[109]. Rebranding and Market Presence - A group-wide rebranding initiative was launched to strengthen the company's market presence and build trust with stakeholders[18]. - The rebranding initiative aims to build trust and credibility among customers, partners, and stakeholders, amplifying marketing effectiveness[40]. - The company is actively seeking new partners in the US market to re-establish sales during the new fiscal year[121]. - The company is focusing on expanding its reach in Poland through a new distributor, Pewna Lacznosc, to grow international sales revenue[115]. Economic Environment and Challenges - The economic environment remains challenging, with high interest rates and geopolitical tensions impacting growth and business costs[37]. - The economic outlook indicates modest but slowing growth, with persistent inflation and uncertainties due to geopolitical tensions and trade policy changes[95][99]. Governance and Management - The management team includes professionals with strong backgrounds in finance, accounting, and investment banking, ensuring robust governance and strategic direction[163][164]. - The board comprises experienced independent non-executive directors who contribute to the company's strategic oversight[159][163]. - The company secretary has over 17 years of experience in auditing and financial management, ensuring compliance and governance[164]. Environmental and Social Responsibility - The Group emphasizes environmental protection and energy conservation, achieving significant accomplishments in environmental management[178][183]. - The Company is committed to maintaining good relationships with employees, customers, and business partners to ensure sustainable development[185][191].

Financial Reports - The company has published its annual reports for the fiscal years ending June 30, 2024, and June 30, 2025[3] - The additional information provided does not affect other data disclosed in the annual reports for 2023/2024 and 2024/2025[6] Stock Option Plan - The stock option plan remains effective for a total of ten years from October 9, 2017, to October 8, 2027, with 39 months and 7 days remaining as of June 30, 2024, and 27 months and 7 days remaining as of June 30, 2025[5]

Financial Performance - Revenue for the reporting period reached RMB 4,726,567,520.04, an increase of 20.95% compared to the same period last year[8]. - Total profit for the reporting period was RMB 483,373,429.19, a decrease of 287.33% year-on-year[8]. - Net profit attributable to shareholders was RMB 376,461,748.33, down 284.87% compared to the same period last year[8]. - Total operating revenue for the first three quarters of 2025 was ¥12.46 billion, a decrease of 14.6% compared to ¥14.60 billion in the same period of 2024[26]. - Net profit for the first three quarters of 2025 was ¥649.69 million, down 50% from ¥1.30 billion in the first three quarters of 2024[27]. - The company’s total profit for the first three quarters of 2025 was ¥758.71 million, compared to ¥1.45 billion in 2024, reflecting a decline of 47.8%[26]. - The company reported a basic earnings per share of ¥0.27 for the first three quarters of 2025, down from ¥0.55 in the same period of 2024[27]. Assets and Liabilities - The company's total assets at the end of the reporting period were RMB 41,910,481,900.36, a decrease of 2.35% from the previous year[11]. - As of September 30, 2025, total assets amounted to RMB 41.91 billion, a decrease from RMB 42.92 billion as of December 31, 2024, reflecting a decline of approximately 2.5%[23]. - Current assets totaled RMB 12.52 billion, down from RMB 13.88 billion, indicating a decrease of about 9.7%[23]. - Total liabilities decreased to RMB 19.62 billion from RMB 21.14 billion, representing a reduction of approximately 7.1%[24]. - The company's cash and cash equivalents were RMB 3.82 billion, down from RMB 5.29 billion, a decline of around 27.8%[23]. - Short-term borrowings decreased to RMB 696 million from RMB 1.02 billion, a reduction of approximately 31.6%[24]. Cash Flow - The cash flow from operating activities for the year-to-date was RMB 2,261,810,118.10, down 25.03% year-on-year[8]. - Cash flow from operating activities for the first three quarters of 2025 was ¥2.26 billion, a decline of 25% compared to ¥3.02 billion in 2024[30]. - Cash flow from investing activities showed a net outflow of ¥2.51 billion in 2025, an improvement from a net outflow of ¥4.24 billion in 2024[30]. - Cash flow from financing activities resulted in a net outflow of ¥1.00 billion in 2025, compared to a net outflow of ¥135.30 million in 2024[31]. - The cash and cash equivalents at the end of the first three quarters of 2025 were ¥3.27 billion, down from ¥4.10 billion at the end of the same period in 2024[31]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 68,339[15]. - The top ten shareholders held a combined 69.77% of the shares, with HKSCC NOMINEES LIMITED holding 18.85%[16]. - The total equity attributable to shareholders increased to RMB 22.20 billion from RMB 21.70 billion, an increase of approximately 2.3%[24]. Research and Development - Research and development expenses decreased by 32.84%, primarily due to reduced investment in R&D[14]. - Research and development expenses decreased to ¥322.22 million in 2025 from ¥479.77 million in 2024, reflecting a reduction of 32.8%[26]. Inventory and Accounts Receivable - The company reported a decrease in inventory by 30.36%, attributed to a reduction in raw materials and finished products[14]. - The company's inventory decreased to RMB 1.21 billion from RMB 1.73 billion, reflecting a decline of about 30.0%[23]. - The company reported a significant increase in accounts receivable, rising to RMB 3.38 billion from RMB 2.60 billion, an increase of approximately 30.2%[23]. Future Plans - The company has a plan for market expansion and new product development, although specific details were not disclosed in the provided content[19].

Financial Performance - The group's consolidated revenue for the nine months ended September 30, 2025, was approximately HKD 6.73 billion, an increase of 66.4% compared to HKD 4.04 billion for the same period in 2024[5] - Gross profit for the same period was HKD 2.40 billion, reflecting a significant increase of 1,000.6% from HKD 217.83 million in 2024[4] - The group recorded a loss attributable to shareholders of approximately HKD 16.17 million, a decrease of 91.5% compared to a loss of HKD 190.72 million in the previous year[5] Asset and Inventory Management - Total asset value as of September 30, 2025, was HKD 35.40 billion, down 12.7% from HKD 40.56 billion as of December 31, 2024[4] - The group recognized an inventory impairment provision of approximately HKD 1.10 billion during the review period, compared to none in the same period last year[6] - The fair value loss on investment properties (net of deferred tax) was approximately HKD 99.12 million, compared to HKD 25.83 million in the previous year[6] - As of September 30, 2025, the group held completed unsold properties valued at approximately HKD 11.653 billion, down from HKD 12.849 billion as of December 31, 2024[11] - The value of properties under development was approximately HKD 10.005 billion, a decrease from HKD 13.147 billion as of December 31, 2024[11] - The total value of completed and under development properties was approximately HKD 21.658 billion, down from HKD 25.996 billion as of December 31, 2024[11] - The sales amount for properties that have been signed and paid for but not yet delivered was approximately HKD 6.510 billion, down from HKD 9.386 billion as of December 31, 2024[11] Project Development and Delivery - The group delivered properties primarily from the Guangzhou Yuehai Yun Port City project, which had a higher gross profit margin, contributing to increased sales profits compared to 2024[6] - The total signed floor area for properties during the review period was approximately 168,000 square meters, compared to 212,000 square meters for the nine months ending September 30, 2024[9] - The total delivered floor area for properties was approximately 214,000 square meters, slightly up from 210,000 square meters for the nine months ending September 30, 2024[9] - The construction status of various projects indicates that significant progress has been made, with several properties in Guangzhou and Zhuhai having completed their main structure[10] - The company is actively developing new projects, with several sites in Jiangmen and Foshan awaiting further development[10] Future Outlook and Governance - The group has ongoing projects in various cities, including Guangzhou, Shenzhen, and Foshan, with significant total floor areas under development[7] - The group plans to continue expanding its market presence with new projects and developments scheduled for completion in the coming years[7] - The net asset value per share as of September 30, 2025, was HKD 2.10, a slight increase of 1.0% from HKD 2.08 as of December 31, 2024[4] - The company emphasizes caution regarding the financial data presented, which has not been audited or reviewed by external auditors[12] - The board of directors consists of a mix of executive and independent directors, ensuring diverse oversight and governance[13]

Revenue and Profitability - Revenue from the food products business increased by 3.7% to RMB367.9 million from RMB354.9 million in 2024[16] - Segment gross profit for food products decreased by 2.5% to RMB11.6 million from RMB11.9 million in 2024, with a gross margin decline from 3.4% to 3.2%[16] - Revenue from the newly launched food and beverage business amounted to RMB67.5 million, with a segment gross profit of RMB39.5 million and a gross margin of 58.6%[17] - The Group's total revenue for the Reporting Period was RMB435.3 million, with the food products business contributing 84.5% and the food and beverage business contributing 15.5%[54] - The Group's gross profit margin for the total business was 11.8%, with the food products business at 3.2% and the food and beverage business at 58.6%[56] Financial Performance and Losses - The Group's loss for the Reporting Period increased to approximately RMB99.7 million due to higher sales and distribution costs and recognized expected credit losses[17] - Selling and distribution expenses increased primarily due to higher sales commissions and promotion costs during the Reporting Period[58] - Income tax expense for the Reporting Period was approximately RMB25,000, compared to an income tax credit of RMB1.7 million in 2024[60] Business Expansion and Strategy - The Company plans to expand its product portfolio to include fresh pork products to strengthen its food business[21] - The Group will focus on developing new businesses, particularly in internet and digital sectors, to diversify revenue sources and stabilize financial performance[24] - The company aims to monitor market dynamics and actively explore new business opportunities, focusing on expanding its internet and digital business to diversify revenue sources[27] - The company emphasizes the importance of listening to market voices and responding with substantial value rather than just discounts, as a strategy for future success[26] Capital and Financing Activities - A placing agreement was entered into on 18 September 2025 to issue up to 30,802,000 placing shares at HK$0.43 per share, potentially raising approximately HK$12.94 million[22] - The placing is expected to enhance the Group's financial position and liquidity without incurring interest expenses associated with debt[23] - The net proceeds from a placing of shares amounted to HK$13.6 million, fully utilized for purchases, marketing, and corporate development[92] - A rights issue was proposed on October 18, 2024, aiming to raise up to HK$30,802,000 by offering one rights share for every two existing shares at HK$0.40 per share, with a market price of HK$0.29 on that date[98][104] Assets and Liabilities - Net current assets decreased from approximately RMB199.2 million as of June 30, 2024, to approximately RMB119.0 million as of June 30, 2025, primarily due to a decrease in cash and cash equivalents and inventories[63] - Cash and cash equivalents as of June 30, 2025, were approximately RMB6.8 million, down from approximately RMB60.9 million as of June 30, 2024, with no bank borrowings reported[64] - Trade receivables increased to approximately RMB143.9 million as of June 30, 2025, compared to approximately RMB89.9 million as of June 30, 2024, with an average credit period of 30 to 90 days[74] - Inventories decreased significantly from approximately RMB74.7 million as of June 30, 2024, to approximately RMB8.3 million as of June 30, 2025, with inventory turnover days improving from 76 days to 39 days[73] - The gearing ratio increased to 0.54 as of June 30, 2025, compared to 0.26 as of June 30, 2024[72] Employee and Governance - The Group had 229 full-time employees as of June 30, 2025, down from 405 as of June 30, 2024[89] - The Company regularly reviews employee remuneration packages to ensure competitiveness and alignment with market standards[129] - The Company has implemented a risk management system covering financial security, production, logistics, technology, and compliance to address operational risks associated with business growth[128] - The Audit Committee oversees the risk management policy and the performance of the risk management system[128] Dividends and Shareholder Information - The Board did not recommend the payment of a final dividend for the reporting period[90] - The company did not declare or propose any dividends for the year ended June 30, 2025, consistent with the previous year[111][118] - The company has adopted a dividend policy that allows for the declaration and distribution of dividends based on various financial factors, but no predetermined distribution ratio exists[123][124] - The Board retains absolute discretion over the declaration of dividends, considering financial performance and other relevant factors[126] Corporate Governance and Compliance - The company has maintained compliance with applicable laws and regulations during the reporting period, with no material breaches reported[125] - The Company has received confirmations of independence from all independent non-executive directors as required by the Listing Rules[157] - The company is committed to adopting corporate governance practices as detailed in the Corporate Governance Report[192] Share Option Scheme - The Share Option Scheme allows the Board to grant options to eligible participants, with a maximum of 10% of the total shares in issue, equating to 100,000,000 shares[161] - No share options were granted under the Share Option Scheme from its effective date up to the date of the annual report[169] - The subscription price for shares under the Share Option Scheme must be at least the highest of the official closing price on the Stock Exchange or the nominal value of a share[168]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 中國中煤能源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：01898） 2025年第三季度報告 根據中國證券監督管理委員會和上海證券交易所（「上交所」）的規定，中國中煤 能源股份有限公司（「本公司」或「中煤能源」及其附屬公司，統稱「本集團」）須 刊發季度報告。 本公告乃根據《證券及期貨條例》（香港法例第571章）第XIVA部及香港聯合交易 所有限公司證券上市規則第13.09條而作出。 本公告為本公司截至2025年9月30日止九個月期間的2025年第三季度財務報告的 摘要。季度財務報告的全文將於2025年10月27日載於香港聯合交易所有限公司 （「聯交所」）網站。季度財務報告的全文僅為中文。 重要內容提示： 公司董事會及董事、高級管理人員保證季度報告內容的真實、準確、完整，不存 在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 公司負責人、主管會計工作負責人及會計機構 ...