Revenue Performance - Revenue decreased by approximately HK$165.4 million from approximately HK$330.0 million in the Last Period to approximately HK$164.6 million in the Current Period[10] - Revenue decreased by approximately HK$165.4 million, or 50.1%, from approximately HK$330.0 million for the Last Period to approximately HK$164.6 million for the Current Period[30] - Revenue for the six months ended September 30, 2025, was HK$164,570,000, a decrease of 50% compared to HK$330,021,000 for the same period in 2024[114] - Revenue from the supply, installation, and maintenance of the MVAC system was HK$130,456,000, down 48.00% from HK$251,082,000 in 2024[134] - Revenue from the supply, installation, and maintenance of low voltage electrical systems was HK$34,114,000, a decrease of 56.75% from HK$78,939,000 in 2024[134] Gross Profit and Loss - Gross profit increased by approximately HK$4.0 million from a gross loss of approximately HK$1.2 million in the Last Period to a gross profit of approximately HK$2.8 million in the Current Period[10] - The Group recorded a gross profit of approximately HK$2.8 million, with a gross profit margin of 1.7%, an improvement from a gross loss of HK$1.2 million and a margin of -0.4% in the previous year[31] - The company recorded a loss attributable to owners of approximately HK$3.9 million for the current period, compared to a loss of HK$8.7 million in 2024[51] - For the six months ended 30 September 2025, the loss attributable to owners of the Company was HK$3,921,000, a decrease of 55.2% compared to a loss of HK$8,747,000 for the same period in 2024[151] - Loss before taxation was HK$5,340,000, an improvement from a loss of HK$11,077,000 in the same period last year[114] Project Awards and Revenue Sources - The Group was awarded 5 projects in the Current Period with an aggregate contract sum of approximately HK$16.0 million, compared to 3 projects with a contract sum of approximately HK$109.3 million in the Last Period[11] - Revenue from MVAC system projects accounted for approximately 79.3% of total revenue in the Current Period, up from 76.1% in the Last Period[18] - Revenue from low voltage electrical system projects accounted for approximately 20.7% of total revenue in the Current Period, down from 23.9% in the Last Period[18] - The largest project awarded in the Current Period was for MVAC system installation for commercial buildings in Hong Kong, with a contract sum of approximately HK$5.8 million[16] - A project related to MVAC system installation was awarded with a contract sum of approximately HK$19.0 million after the Current Period[23] Financial Position and Liquidity - The Group maintained a healthy liquidity position with bank balance and cash of approximately HK$150.7 million as of 30 September 2025, up from HK$97.5 million[48] - The current ratio of the Group was approximately 2.2 times as of 30 September 2025, compared to 2.3 times as of 31 March 2025[49] - The group maintained a strong liquidity position with cash and bank balances of approximately HK$150.7 million as of September 30, 2025, up from HK$97.5 million as of March 31, 2025[53] - The current ratio as of September 30, 2025, was approximately 2.2 times, compared to 2.3 times as of March 31, 2025[53] - The group had no bank borrowings, resulting in a gearing ratio of nil as of September 30, 2025[55] Administrative and Other Expenses - Administrative expenses decreased to approximately HK$12.9 million from HK$13.4 million in the Last Period[34] - Other income slightly decreased to approximately HK$1.5 million from HK$1.7 million in the Last Period[32] - The Group recorded an other gain of approximately HK$3.2 million, attributed to fair value gains on financial assets[40] - Total staff costs for the six months ended 30 September 2025 were HK$37,861,000, down 21.9% from HK$48,494,000 in 2024[151] Shareholder Information and Corporate Governance - As of September 30, 2025, Yu Cheung Choy holds a long position of 246,000,000 shares, representing 61.50% of the issued share capital of the Company[88] - Lau Man Ching holds a long position of 54,000,000 shares, representing 13.50% of the issued share capital of the Company[88] - The Company is committed to maintaining good corporate governance standards to enhance shareholder value[80] - The Audit Committee was established on December 6, 2016, to oversee financial integrity and risk management[99] - All Directors and chief executives confirmed compliance with the securities trading standards during the reporting period[84] Investments and Financial Assets - The Group's financial assets at fair value through profit or loss included equity securities listed in Hong Kong valued at HK$11,254,000 as of 30 September 2025, up from HK$10,407,000 as of 31 March 2025[186] - Unlisted funds in overseas were valued at HK$13,363,000 as of 30 September 2025, compared to HK$12,334,000 as of 31 March 2025[186] - Investment in listed bonds at amortized cost decreased to HK$272,000 from HK$2,536,000 as of March 31, 2025[171] - The company reported a current investment in listed perpetual capital securities of HK$4,190,000, unchanged from the previous period[171] Employee and Management Compensation - Compensation to key management personnel, representing the Directors, was disclosed but specific amounts were not provided in the summary[174] - Directors' fees increased to HK$312,000 for the six months ended 30 September 2025, compared to HK$234,000 for the same period in 2024[175] - Salaries decreased to HK$3,245,000 for the six months ended 30 September 2025, down from HK$3,417,000 for the same period in 2024[175] Future Outlook and Strategic Focus - The Company continues to explore opportunities for market expansion and new project acquisitions[9] - Future outlook includes a commitment to enhancing service offerings and maintaining competitive positioning in the E&M engineering sector[9] - The Group is actively expanding its service scope to include diversified E&M engineering services, such as fire services systems and plumbing[26] - The Group's focus remains on the supply, installation, and maintenance of MVAC systems and low voltage electrical systems[18]

摘要 截至二零二五年九月三十日止六個月（「期內」）及截至二零二四年九月三十日止六個月 （「過往期間」）： － 期內，本集團收入約為260,300,000港元（過往期間：180,700,000港元）。 － 期內，本公司擁有人應佔虧損約為16,200,000港元（過往期間：約13,800,000港元）。 － 董事會並不建議派付期內中期股息（過往期間：無）。 － 期內，每股虧損約為2.02港仙（過往期間：約1.72港仙）。 1 德萊建業集團有限公司 德萊建業集團有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈本公司及其附屬公 司（統稱「本集團」）期內之未經審核業績連同過往期間之比較數字如下： 未經審核簡明綜合損益及其他全面收益表 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 | | | 附註 | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收入 | 5 | 260,341 | 180,671 | | 直接成本 | | (255,559) | (1 ...

| | | 3 簡明綜合損益表 4 簡明綜合全面收益表 5 簡明綜合財務狀況表 7 簡明綜合權益變動表 8 簡明綜合現金流量表 9 中期簡明綜合財務報表附註 23 管理層討論及分析 33 其他資料 公司資料 金寶通集團有限公司（股份代號：0320）是一家總部設在香港的國際性科技、品牌 和製造公司，在全球策略性地區共設有20個辦事處及生產基地。50年來，金寶通 與國際品牌合作，提供切實有效的設計和製造解決方案，並以自有品牌開發和推出 創新產品。金寶通提供遠超標準的製造服務，建立了廣泛的解決方案組合。透過定 制 IP和先進研發，金寶通協助其合作夥伴加快產品推出市場的時間，並以自家品 牌 SALUS Controls及 Braeburn推出行業領先的連接產品。金寶通站在技術的前 線，已逐漸發展成為設計和製造物聯網(IoT)及家居自動化產品的市場領導者。 實現智能及 可持續的生活 科技 | 品牌 | 製造 目 錄 目 錄 名譽主席 歐陽和先生 董事 執行董事 歐陽伯康先生 （主席及行政總裁） 黃華舜先生 非執行董事 甘志超先生 王俊光先生 獨立非執行董事 何百川先生 李尚玉女士 梅敏儀女士 根據上市規則的授權代表 歐 ...

Financial Performance - The company reported revenue of approximately HKD 1,576.1 million for the six months ended September 30, 2025, representing an increase of 120.7% compared to HKD 714.2 million for the same period last year[12]. - Profit attributable to equity holders decreased by approximately HKD 2.1 million or 22.6% to about HKD 7.1 million[7]. - Gross profit for the period was approximately HKD 57.8 million, an increase of about HKD 14.0 million or 31.9% compared to HKD 43.8 million in the corresponding period of 2024, with gross margin decreasing to 3.7% from 6.1% due to increased market competition[14]. - Net profit attributable to equity holders for the period was HKD 7,143, down from HKD 9,233 in 2024, representing a decrease of 22.6%[39]. - The total financing costs for the six months ended September 30, 2025, amounted to HKD 2,190,000, significantly higher than HKD 485,000 in 2024, reflecting an increase of 352.3%[65]. Business Expansion - The company secured multiple large street cleaning contracts from various government departments, contributing to a total contract value of approximately HKD 6.78 billion as of September 30, 2025, an increase of 40.7% from March 31, 2025[9]. - The commercial line of business expanded significantly, acquiring contracts from high-end clients including major shopping malls and prestigious universities[10]. - The security services business, launched in October 2023, has rapidly developed, securing contracts from large residential areas and government services[10]. - The company plans to continue focusing on core cleaning services while actively expanding into security, waste transportation, and professional pest management[11]. Operational Efficiency - The company aims to enhance service quality and operational efficiency through digitalization and the exploration of artificial intelligence applications[11]. - Service costs for the six months ended September 30, 2025, and 2024, were approximately HKD 1,518.3 million and HKD 670.4 million, representing 96.3% and 93.9% of the group's revenue, respectively, with an increase of about 2.4%[13]. - Administrative expenses increased by HKD 8.7 million or 22.5%, totaling approximately HKD 47.4 million, accounting for 3.0% of total revenue, primarily due to the expansion of the business and operational teams[15]. Financial Position - As of September 30, 2025, the group's cash and cash equivalents were approximately HKD 261.3 million, down from HKD 302.6 million as of March 31, 2025, with a current ratio of approximately 1.5 times[20]. - Total bank and other borrowings increased significantly to approximately HKD 378.1 million from HKD 8.0 million, with total bank financing available amounting to approximately HKD 1,320.5 million, of which about HKD 627.7 million remains undrawn[22]. - The capital debt ratio as of September 30, 2025, was approximately 62.9%, a significant increase from 1.7% as of March 31, 2025, primarily due to new borrowings for vehicle purchases and operational funding[23]. - The group had a net accounts receivable of approximately HKD 849.3 million as of September 30, 2025, an increase from HKD 422.2 million as of March 31, 2025, consistent with revenue growth[19]. Investments and Assets - The fair value of non-listed unit trust investments as of September 30, 2025, was HK$1,804,000, up from HK$1,713,000 as of March 31, 2025, indicating an increase of approximately 5.3%[53]. - The fair value of life insurance investments increased to HK$11,335,000 as of September 30, 2025, from HK$11,208,000 as of March 31, 2025, representing a growth of about 1.1%[54]. - The company reported a net fair value gain of HK$127,000 on life insurance investments for the six months ended September 30, 2025, compared to a gain of HK$316,000 for the same period in 2024[54]. - The group acquired properties, plants, and equipment worth approximately HK$107,426,000 for the six months ended September 30, 2025, compared to HK$11,021,000 in 2024, indicating a substantial increase of 875.5%[72]. Governance and Compliance - The company has not adopted any new accounting standards that would significantly impact its financial reporting, with the revised HKAS 21 effective from April 1, 2025, not resulting in changes to accounting policies[47]. - The company operates a single business segment providing cleaning and related services in Hong Kong, with no geographical segment reporting due to all operations being conducted in Hong Kong[59][60]. - The company complied with all applicable code provisions of the Corporate Governance Code during the period[89]. - The company's interim condensed consolidated financial information was reviewed by the audit committee and independent auditor[91]. Shareholder Information - As of September 30, 2025, major shareholders include Hong Kong Huafa Investment Holdings Limited with 42.00% and Zhuhai Huafa Group Limited with 44.25% of shares[84]. - The average number of ordinary shares used for calculating basic earnings per share remained constant at 500,000,000 for both 2025 and 2024[71]. - The group did not declare any interim dividend for the six months ended September 30, 2025, consistent with the previous year[69].

| 目錄 | | | --- | --- | | 公司資料 | 2 | | 財務摘要 | 4 | | 管理層討論及分析 | 5 | | 企業管治及其他資料 | 12 | | 簡明綜合損益及其他全面收益表 | 17 | | 簡明綜合財務狀況表 | 18 | | 簡明綜合權益變動表 | 20 | | 簡明綜合現金流量表 | 21 | | 簡明綜合財務報表附註 | 23 | 董事會 執行董事 賴偉先生 （主席） 賴英華先生 獨立非執行董事 梁以德教授 何大東先生 曾詠翹女士 蔡浩仁先生 審核委員會 蔡浩仁先生 （主席） 梁以德教授 何大東先生 曾詠翹女士 薪酬委員會 01 生興控股（國際）有限公司 2025年中期報告 公司資料 梁以德教授 （主席） 何大東先生 曾詠翹女士 蔡浩仁先生 提名委員會 賴偉先生 （主席） 梁以德教授 何大東先生 曾詠翹女士 開曼群島股份過戶登記總處 Conyers Trust Company (Cayman) Limited Cricket Square Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands 香港股 ...

中期報告 2025/26 簡明綜合收益表 截至二零二五年九月三十日止六個月 | | | （未經審核） | | | --- | --- | --- | --- | | | | 截至九月三十日止六個月 | | | | | 二零二五年 | 二零二四年 | | | 附註 | 千港元 | 千港元 | | 營業額 | 6 | 18,422 | 16,662 | | 已售貨品成本 | | (17,882) | (15,670) | | 毛利 | | 540 | 992 | | 其他收入 | 7 | 185 | 200 | | 銷售及分銷支出 | | (3,797) | (3,684) | | 行政支出 | | (7,543) | (7,278) | | 經營虧損 | 8 | (10,615) | (9,770) | | 財務費用 | 9 | (1,744) | (1,908) | | 分佔一間採用權益法入賬之合營企業之虧損淨額 | | (82) | (83) | | 除所得稅前虧損 | | (12,441) | (11,761) | | 所得稅支出 | 10 | (8) | (8) | | 期內虧損 | | (12,449 ...

注意：tab改為21pt，中文第一行有縮排，英文第一行無縮排。 注意： tab 改為 21pt ，中文第一行有縮排，英文第一行無縮排。 目錄 本中期報告以中英文編製。如有任何歧義，以英文文本為準。 注意：tab改為21pt，中文第一行有縮排，英文第一行無縮排。 注意： tab 改為 21pt ，中文第一行有縮排，英文第一行無縮排。 02 公司資料 04 管理層討論與分析 17 企業管治及其他資料 未經審核中期財務資料 30 獨立審閱報告 32 中期簡明綜合損益表 33 中期簡明綜合全面收益表 34 中期簡明綜合財務狀況表 36 中期簡明綜合權益變動表 38 中期簡明綜合現金流量表 41 中期簡明綜合財務資料附註 公司資料 董事會 執行董事 沈滌凡先生 （首席執行官） 屠燕武先生 非執行董事 朱順炎先生 （主席） 黃佼佼女士 徐海鵬先生 獨立非執行董事 黃一緋女士 邵蓉博士 吳亦泓女士 審核委員會 吳亦泓女士 （主席） 黃一緋女士 邵蓉博士 薪酬委員會 黃一緋女士 （主席） 黃佼佼女士 吳亦泓女士 提名委員會 朱順炎先生 （主席） 邵蓉博士 吳亦泓女士 授權代表 沈滌凡先生 徐曉亮女士 公司秘書 徐曉亮女士 鄧 ...

Financial Performance - The group's revenue increased approximately fourfold to HKD 101.1 million for the six months ended September 30, 2025, compared to HKD 20.9 million in 2024[7] - Gross profit rose by 78.9% to HKD 19.5 million, with an overall gross margin decreasing from 52.1% to 19.3% due to lower profit margins from property sales[7] - Loss attributable to equity holders decreased to HKD 62.3 million, a reduction of approximately 64.6% compared to HKD 176.2 million in 2024[10] - Earnings per share loss was HKD 0.0265, down from HKD 0.0751 in the previous year[10] - The operating loss for the six months was HKD 48,362,000, a reduction from HKD 206,526,000 in the previous year, showing a decrease in losses by approximately 77%[41] - The company reported a net loss of HKD 68,280,000 for the period, compared to a net loss of HKD 177,330,000 in 2024, reflecting a 61% improvement in net losses[41] - The company reported a significant decrease in interest income from bank deposits, which fell to HKD 4,802,000 in 2025 from HKD 11,820,000 in 2024[64] - The company recorded a fair value loss of HKD 5,627,000 on investment properties in 2025, indicating challenges in the real estate market[61] - The company reported a tax credit of HKD 138,000 for the period, contrasting with a tax expense in the previous year[61] Cash and Financial Position - The net cash position of the group was HKD 431 million, with total cash reserves (including bonds and securities investments) amounting to HKD 490.2 million[6] - The group's cash and bank balances as of September 30, 2025, amount to HKD 467.5 million, an increase from HKD 367.8 million as of March 31, 2025[29] - The net cash generated from operating activities was HKD 165,075,000, a significant turnaround from a cash outflow of HKD 45,695,000 in the prior year[45] - The company’s equity attributable to shareholders decreased to HKD 2,872,841,000 from HKD 2,905,649,000, reflecting the impact of the current period's loss[44] - The company’s current liabilities decreased to HKD 142,365,000 from HKD 211,650,000, indicating improved liquidity management[43] - The company’s bank borrowings decreased from HKD 131,100,000 as of March 31, 2025, to HKD 59,150,000 as of September 30, 2025[76] Property and Investment - Property sales amounted to approximately HKD 83.1 million, with rental and management fee income at HKD 11.3 million[8] - The total floor area of the commercial property in Tuen Mun, Hong Kong is approximately 24,375 square feet, with an estimated valuation of HKD 162,700,000 as of September 30, 2025, generating annual rental income of approximately HKD 2,400,000[12] - The valuation of the commercial property in Anshan, Liaoning Province is RMB 307,800,000 (approximately HKD 336,000,000) as of September 30, 2025, with a challenging local market leading to difficulties in leasing or selling units[13] - The hotel and resort villas in Xiamen have a total valuation of RMB 343,000,000 (approximately HKD 372,800,000) as of September 30, 2025, generating annual rental income of approximately RMB 18,300,000 (approximately HKD 20,000,000)[14] - The commercial property in Dongguan has an estimated valuation of RMB 34,200,000 (approximately HKD 37,300,000) as of September 30, 2025, with annual rental income of approximately RMB 700,000 (approximately HKD 800,000)[14] - The office building in Kuala Lumpur has an estimated valuation of MYR 158,100,000 (approximately HKD 292,000,000) as of September 30, 2025, with an occupancy rate of 66% and generating annual rental income of approximately MYR 5,600,000 (approximately HKD 10,300,000)[16] - The company is actively seeking opportunities to sell its investment properties to enhance cash reserves and financial position[16] - The company plans to continue promoting remaining units and commercial spaces in various properties to increase rental income[14] Cemetery Project - The cemetery project in Guangdong Province has a total land area of approximately 518 acres, with the first phase completed, providing 5,485 burial plots and a columbarium with 550 niches[22] - The second to fifth phases of the cemetery project will allow for the construction of approximately 37,798 burial plots, with 20,224 plots planned for the second and third phases[22] - The revenue from cemetery operations in 2025 was HKD 6,178,000, while in 2024, it was HKD 10,255,000, indicating a decline in this segment[62] - The group plans to enhance its sales and marketing strategies for the cemetery project, aiming for a more proactive approach in brand establishment and customer service[24] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules during the reporting period[36] - The company has not granted any share options under its share option scheme since its adoption on September 2, 2022[39] - Major shareholder Profit Stability Investments Limited holds 1,435,314,923 shares, representing 61.15% of the company[34] - The company did not buy or redeem any of its listed securities during the reporting period[38] Joint Ventures and Investments - The company’s share of results from joint ventures in 2025 was a loss of HKD 17,446,000, compared to a profit of HKD 7,620,000 in 2024, highlighting a downturn in joint venture performance[61] - The group holds investments in Beihai Group Limited (approximately 19.35% interest) and Zhongqi Group Limited (approximately 0.6% interest), with total investment value of approximately HKD 77.2 million as of September 30, 2025[25] Liquidation and Subsidiary Impact - The loss from the liquidation of a subsidiary amounted to HKD 4,741,000[81] - The net cash outflow during the liquidation process was HKD 1,348,000[81] - The total assets of the subsidiary included properties and equipment valued at HKD 4,822,000 and properties held for sale at HKD 42,656,000[81] - The subsidiary's liabilities included accounts payable and accrued expenses totaling HKD 21,250,000 and tax payables of HKD 28,896,000[81] - The financial impact of the liquidation reflects a significant adjustment in the company's asset management strategy[81]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 239,052,000, a decrease of 14.7% compared to HKD 280,177,000 for the same period in 2024[5] - Net profit for the period was HKD 1,522,000, down 94.0% from HKD 25,363,000 in the previous year[5] - Basic and diluted earnings per share decreased to HKD 0.05 cents from HKD 1.05 cents year-on-year[6] - Total comprehensive income for the period was HKD 22,842,000, a decline of 51.4% compared to HKD 47,012,000 in 2024[6] - Operating cash flow for the period was HKD 24,069,000, significantly lower than HKD 98,622,000 in the same period last year[11] - For the six months ended September 30, 2025, the net cash generated from investment activities was HKD 6,989,000, a decrease of 49% compared to HKD 13,703,000 for the same period in 2024[12] - The company reported a net cash outflow from financing activities of HKD 24,846,000, significantly lower than the HKD 144,743,000 outflow in the previous year, indicating improved cash management[12] - The company paid dividends totaling HKD 23,979,000 during the period, a decrease from HKD 143,876,000 in the previous year, indicating a shift in dividend policy[13] - The company incurred total tax expenses of HKD 3,186,000 for the current period, down from HKD 5,945,000 in the previous period, indicating improved tax efficiency[33] Assets and Liabilities - Non-current assets as of September 30, 2025, totaled HKD 696,375,000, slightly down from HKD 699,535,000 as of March 31, 2025[8] - Current assets increased to HKD 1,119,219,000 from HKD 1,109,557,000, primarily driven by an increase in inventory[8] - Total liabilities decreased to HKD 79,571,000 from HKD 79,458,000, indicating stable financial leverage[9] - Cash and cash equivalents rose to HKD 544,759,000 from HKD 526,248,000, reflecting improved liquidity[8] - The company's equity attributable to owners as of September 30, 2025, was HKD 1,644,543,000, down from HKD 1,683,541,000 a year earlier, reflecting changes in retained earnings and reserves[13] - The company's total receivables included overdue amounts of approximately HKD 472,600,000 from five borrowers, with ongoing legal actions to recover these debts[42] - The group's net current assets as of September 30, 2025, were approximately HKD 1,041,739,000, slightly up from HKD 1,039,603,000 as of March 31, 2025[56] Revenue Breakdown - Revenue from the publishing segment was HKD 192,824,000, down 4.3% from HKD 202,260,000 in the previous year[22] - Internet subscription and advertising revenue decreased to HKD 37,267,000 from HKD 43,685,000, representing a decline of 14.7%[22] - The loan business reported a significant drop in revenue, with interest income falling to HKD 786,000 from HKD 25,710,000, a decrease of 96.9%[24] - The total segment profit for the publishing segment was HKD 19,030,000, an increase of 62.5% from HKD 11,728,000 in the previous year[24] - Non-current assets in Hong Kong generated revenue of HKD 233,527,000, down from HKD 275,434,000 in the previous year[28] - The overall revenue for the Oriental Daily was approximately HKD 192,824,000, a decrease of about HKD 9,436,000 or approximately 5% compared to the previous year[62] - The digital media business revenue was approximately HKD 37,267,000, down by about HKD 6,418,000 or approximately 15% year-on-year[62] - Rental income from the commercial property in North Point was approximately HKD 920,000, a decrease of about HKD 850,000 or approximately 48% compared to the same period last year[62] Investment Properties - The company reported a fair value loss on investment properties of HKD 7,900,000, compared to HKD 10,355,000 in the previous year[5] - The fair value loss on investment properties for the period was approximately HKD 7,900,000, compared to HKD 10,355,000 for the same period last year, showing a reduction in losses[20] - The fair value of investment properties increased to HKD 348,160,000 as of September 30, 2025, up from HKD 344,698,000 at the end of the previous reporting period[38] - The valuation of the group's investment properties decreased by approximately HKD 7,900,000 or about 6% compared to March 31, 2025[62] - The company's investment properties in Australia were valued at HKD 216,260,000, while those in Hong Kong were valued at HKD 131,900,000 as of September 30, 2025[40] Credit Risk Management - The company recognized an expected credit loss provision of approximately HKD 6,144,000 for receivables, reflecting ongoing credit risk management efforts[42] - The net loss allowance for expected credit losses on receivables was approximately HKD 6,144,000, compared to none for the same period last year[55] - The expected credit loss provision for receivables and interest during the reporting period was approximately HKD 6,144,000, resulting in net receivables of approximately HKD 466,456,000 after deducting the provision[63] - The company maintained strict monitoring of its approved loans and outstanding receivables to mitigate credit risk, with a focus on the recoverability of overdue balances[41] Employee and Corporate Strategy - The group employed 734 employees as of September 30, 2025, down from 779 employees as of March 31, 2025[68] - The group plans to focus resources on its core media business to strengthen its market leadership amid an uncertain local economic outlook[66] - The group anticipates continued pressure on its media business due to a weak consumer market and rising unemployment rates[65] - The company continues to focus on its core business of investment holding and corporate management services, with no significant changes in its operational strategy reported[15] Shareholding Structure - As of September 30, 2025, the total issued shares of the company are 2,397,917,898 shares[80] - Conyers Trustee Services (BVI) Limited holds 1,547,851,284 shares, representing 64.55% of the company's equity[80] - Magicway Investment Limited owns 1,222,941,284 shares, accounting for 51.00% of the company's equity[80] - Ever Holdings Limited has 324,910,000 shares, which is 13.55% of the company's equity[80] - Perfect Deal Trading Limited holds 149,870,000 shares, representing 6.25% of the company's equity[80] - Mr. Ma Chengfa and Mr. Ma Jinghao are beneficial owners of Magicway Investment Limited, holding 26.00% and 16.70% respectively[78] - Ms. Hong Meifang, as the spouse of Mr. Ma Chengfa, is deemed to hold 1,697,721,284 shares, which is 70.80% of the company's equity[80] - The ownership percentages are calculated based on the total issued shares as of September 30, 2025[79] - Ocean Trust, through Conyers Trustee Services, indirectly holds 57.3% of Magicway Investment Limited[79] - The company has no other individuals holding shares or related equity interests as of September 30, 2025[82] Proposed Changes - The board proposed changing the company name to "Oriental Media Group Limited" to better reflect its business focus[75] - The board did not recommend the distribution of an interim dividend for the reporting period[61]

Financial Performance - For the six months ended September 30, 2025, the company's revenue increased by approximately HKD 79.4 million or 22.5% to HKD 431.7 million compared to the same period in 2024[13]. - Profit attributable to owners of the company rose from approximately HKD 27 million in the first half of 2024 to about HKD 48.3 million, an increase of approximately HKD 21.3 million[13]. - The company's revenue increased from approximately HKD 352.3 million in the first half of 2024 to approximately HKD 431.7 million in the first half of 2025, representing a growth of about 22.5%[17]. - Revenue from U.S. customers rose by approximately HKD 12.4 million or 4.5%, from HKD 274.2 million in the first half of 2024 to HKD 286.6 million in the first half of 2025, driven by strong consumer confidence in the U.S. market[17]. - Gross profit rose from approximately HKD 75.1 million in the first half of 2024 to approximately HKD 103.4 million in the first half of 2025, an increase of about 37.6%[24]. - The gross profit margin improved from 21.3% in the first half of 2024 to 23.9% in the first half of 2025, an increase of 2.6%[24]. - The company's profit attributable to owners increased from approximately HKD 27,000,000 in the first half of 2024 to approximately HKD 48,300,000 in the first half of 2025, representing a growth of about 78.9%[34]. - The net profit margin improved from 8.1% in the first half of 2024 to 11.8% in the first half of 2025[34]. - Net profit for the period was HKD 50,959,000, which is an increase of 78.8% from HKD 28,511,000 in the prior year[85]. - Basic and diluted earnings per share for the company owners were HKD 11.8, up from HKD 6.6, reflecting a 78.8% increase[85]. Operational Efficiency - The company benefits from its early strategic move to establish production capacity in Cambodia, which now accounts for about 90% of total production capacity, enhancing operational efficiency and cost-effectiveness[12]. - The company recognizes Cambodia as a stable and cost-effective manufacturing base, contributing significantly to its profitability and operational advantages[12]. - The company aims to achieve sustainable growth by enhancing production efficiency and exploring opportunities arising from sustainable and mid-market trends[16]. Market Positioning - The company is positioned to capitalize on the growing "affordable luxury" and "premium casual" markets, driven by consumer demand for quality, value, and multifunctional design[13]. - The resilient U.S. labor market and moderate GDP growth support consumer spending, despite ongoing inflationary pressures and high interest rates[9]. - The company continues to monitor global trade dynamics closely and is prepared to implement strategies to mitigate potential risks associated with trade policies[11]. Financial Health - As of September 30, 2025, the company's cash and cash equivalents were approximately HKD 191,000,000, up from approximately HKD 188,800,000 as of March 31, 2025[38]. - The current ratio decreased from 3.2 as of March 31, 2025, to 2.9 as of September 30, 2025[38]. - The total employee cost for the first half of 2025 was approximately HKD 92,900,000, compared to approximately HKD 86,700,000 in the first half of 2024[43]. - The company maintained a net cash position with no borrowings as of September 30, 2025[36]. - The company reported a total comprehensive income of HKD 50,883,000 for the period, compared to HKD 28,578,000 in the previous year, reflecting an increase of 77.9%[86]. - Total assets as of September 30, 2025, amounted to HKD 482,904,000, compared to HKD 420,867,000 as of March 31, 2025, indicating a growth of 14.7%[89]. - Total equity increased to HKD 319,891,000 from HKD 293,526,000, marking an increase of 9.0%[89]. Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.04 per share for the first half of 2025, up from HKD 0.03 per share in the first half of 2024, along with a special dividend of HKD 0.02 per share[16]. - As of September 30, 2025, the board members and senior executives collectively own 301,138,000 shares, representing approximately 73.70% of the issued shares[56]. - Each of the five key executives holds a 20% personal interest in the total issued share capital of Huaxin Holdings, which is the direct shareholder of the company[59]. - The total issued and fully paid ordinary shares remained at 408,626,000 with a par value of HKD 4,086,000 as of both September 30, 2025, and March 31, 2025[142]. Risk Management and Compliance - The company continues to monitor global trade dynamics closely and is prepared to implement strategies to mitigate potential risks associated with trade policies[11]. - The company has adopted a standard code for securities trading by its directors, and all directors confirmed compliance with this code throughout the first half of 2025[68]. - The board's audit committee reviewed and discussed the unaudited condensed consolidated financial statements for the first half of 2025[75]. - The company maintains a high level of transparency to strengthen investor relations, providing timely disclosures through announcements and reports[76]. Investments and Acquisitions - There were no significant investments or acquisitions made during the first half of 2025[45]. - The company plans to renew the lease agreement for the Dongguan factory after the lease term expires in 2025, reflecting a strategic move to maintain operational support for its Cambodian production facilities[129].