Financial Performance - Revenue for the three months ended September 30, 2025, increased by 2.0% to RMB 95.49 billion compared to RMB 93.58 billion for the same period in 2024[5] - The operating loss for the third quarter of 2025 was RMB 19.76 billion, compared to an operating profit of RMB 13.69 billion in the same quarter of 2024[5] - Adjusted EBITDA for the third quarter of 2025 was a loss of RMB 14.84 billion, a significant decline from an adjusted EBITDA of RMB 14.53 billion in the previous year[5] - The core local business segment's revenue decreased by 2.8% to RMB 67.45 billion, with an operating loss of RMB 14.07 billion, reflecting a 20.9% operating loss margin[11] - The new business segment's operating loss expanded to RMB 1.28 billion, indicating challenges in overseas expansion efforts[10] - Revenue increased by 2.0% from RMB 93.6 billion in Q3 2024 to RMB 95.5 billion in Q3 2025[24] - Core local business revenue decreased by 2.8% from RMB 69.4 billion in Q3 2024 to RMB 67.4 billion in Q3 2025[27] - New business revenue grew by 15.9% from RMB 24.2 billion in Q3 2024 to RMB 28.0 billion in Q3 2025[27] - The company recorded a loss of RMB 18.6 billion in Q3 2025, compared to a profit of RMB 12.9 billion in Q3 2024[41] - Operating loss for Q3 2025 was RMB 19.8 billion compared to an operating profit of RMB 13.7 billion in Q3 2024[23] Expenses and Costs - Sales cost rose by 23.7% from RMB 56.8 billion in Q3 2024 to RMB 70.3 billion in Q3 2025, accounting for 73.6% of revenue[28] - Sales and marketing expenses increased by 90.9% from RMB 18.0 billion in Q3 2024 to RMB 34.3 billion in Q3 2025, representing 35.9% of revenue[30] - R&D expenses rose by 31.0% from RMB 5.3 billion in Q3 2024 to RMB 6.9 billion in Q3 2025, accounting for 7.3% of revenue[31] - Sales cost increased by 14.5% from RMB 61.4 billion in Q2 2025 to RMB 70.3 billion in Q3 2025, with the percentage of revenue rising from 66.9% to 73.6%[46] - Sales and marketing expenses rose by 52.2% from RMB 22.5 billion in Q2 2025 to RMB 34.3 billion in Q3 2025, with the percentage of revenue increasing from 24.5% to 35.9%[47] - R&D expenses increased by 10.8% from RMB 6.3 billion in Q2 2025 to RMB 6.9 billion in Q3 2025, with the percentage of revenue rising from 6.8% to 7.3%[48] User Engagement and Growth - Daily active users and monthly transacting users in the food delivery segment reached new highs during the third quarter[12] - The "Meituan Flash Purchase" platform saw significant growth in new user acquisition and transaction frequency among core users, with order volume and transaction value reaching historical highs during the Qixi Festival[14] - The "Meituan Membership" program has improved user engagement and transaction frequency, with a notable increase in mid-tier users achieving membership upgrades[19] - User data indicates a 40% increase in transaction users, reaching 150 million active users on the platform[82] Cash and Investments - Cash and cash equivalents held by the company amounted to RMB 99.2 billion, with short-term investments totaling RMB 42.1 billion as of September 30, 2025[10] - The company held cash and cash equivalents of RMB 99,234,190 thousand as of September 30, 2025, down from RMB 101,656,333 thousand at the beginning of the period[63] - Net cash used in operating activities for Q3 2025 was RMB 22,148,259 thousand, primarily due to pre-tax losses[64] - Net cash generated from investing activities for Q3 2025 was RMB 20,790,118 thousand, mainly from net inflows from financial investments[65] Corporate Governance and Compliance - The audit committee reviewed the unaudited interim financial information for the three months ended September 30, 2025, ensuring compliance with accounting principles[72] - The company remains committed to maintaining strict corporate governance standards and has adopted the principles of the corporate governance code[74] - The company aims to improve its corporate governance practices in line with the latest regulations, ensuring compliance and transparency[81] Strategic Initiatives and Future Outlook - The company is focusing on enhancing supply and fulfillment capabilities to drive increased consumption frequency and user stickiness among core users[12] - The company is focusing on expanding its offline presence and improving supply chain capabilities, particularly through the "Keeta" initiative in the Middle East and Brazil[18] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[81] - New product launches are expected to contribute an additional $500 million in revenue over the next fiscal year[81] - The company has set a revenue guidance of $10 billion for the next quarter, indicating a 12% growth compared to the same period last year[81] - The company is exploring potential acquisitions to strengthen its logistics capabilities, with a budget of $1 billion allocated for this purpose[81] Operational Developments - The company has introduced innovative supply models and quality services to improve consumer delivery experiences[12] - The "Raccoon Canteen" initiative has launched 20 centralized kitchens in high-tier cities, with over 300 brands participating, leading to significant increases in online exposure and order volume for merchants[13] - The company has established a multi-tiered welfare system for delivery riders, including national promotion of retirement insurance subsidies and expanded occupational injury protection to 17 provinces[13] - The company launched AI tools tailored for the restaurant industry and entered the large-scale testing phase for its smart assistant app[20] - The company aims to enhance AI integration in business operations to improve efficiency and user experience[20] Financial Position - As of September 30, 2025, total assets amounted to RMB 318,034,051 thousand, a decrease from RMB 324,354,917 thousand as of December 31, 2024, representing a decline of approximately 1.0%[69] - Non-current assets increased to RMB 118,519,104 thousand from RMB 114,620,056 thousand, reflecting an increase of about 3.5%[69] - Current assets, particularly cash and cash equivalents, rose significantly to RMB 99,234,190 thousand from RMB 70,834,097 thousand, marking an increase of approximately 40.4%[69] - Total liabilities decreased slightly to RMB 150,656,149 thousand from RMB 151,750,839 thousand, a reduction of about 0.7%[70] - The company's equity attributable to shareholders decreased to RMB 167,435,886 thousand from RMB 172,662,960 thousand, a decline of approximately 3.3%[69] - The company reported a cumulative loss of RMB 148,074,048 thousand as of September 30, 2025, compared to RMB 139,801,785 thousand as of December 31, 2024, indicating an increase in losses[69]

Financial Performance - For the six months ended September 30, 2025, total revenue was HKD 34,481,081, a decrease of 1.8% compared to HKD 35,105,202 for the same period in 2024[4] - Gross profit for the same period was HKD 5,505,527, down 6.0% from HKD 5,855,695 in 2024[4] - The net profit for the six months ended September 30, 2025, was HKD 1,768,085, representing a decline of 21.9% from HKD 2,263,915 in 2024[4] - Basic earnings per share decreased to HKD 24.73 cents from HKD 32.71 cents, a drop of 24.5% year-over-year[5] - Other comprehensive income for the period was HKD 998,462, down from HKD 1,615,745 in the previous year, reflecting a decrease of 38.1%[5] - The group reported a revenue decrease of 1.8% to HKD 34,481,081,000 for the period, with net profit attributable to shareholders down 24.2% to HKD 1,334,217,000[32] - Basic earnings per share decreased by 24.4% to HKD 0.2473, while free cash flow increased by 17.2% to HKD 2,604,963,000[32] Assets and Liabilities - The total assets as of September 30, 2025, were HKD 104,031,353, compared to HKD 103,673,070 as of March 31, 2025, indicating a slight increase[6] - Non-current assets amounted to HKD 69,831,313, an increase from HKD 68,749,408 as of March 31, 2025[6] - The total assets as of September 30, 2025, amounted to HKD 105,677,861,000, compared to HKD 101,318,286,000 as of March 31, 2025, indicating a growth of approximately 4.2% [7] - Non-current liabilities increased to HKD 42,256,530,000 from HKD 40,591,581,000, reflecting a rise of about 4.1% [7] - The equity attributable to owners of the company was HKD 56,028,069,000, up from HKD 53,864,695,000, representing an increase of approximately 4% [7] - The total amount of bank loans and other loans for the group is HKD 62,868,140,000 as of September 30, 2025[66] Cash Flow and Expenses - Cash and cash equivalents were HKD 12,707,137, up from HKD 8,853,349 as of March 31, 2025, showing a significant increase[6] - The financial expenses for the period were recorded at HKD 348,064,000 [15] - The group achieved a net operating cash flow of HKD 3,127,333,000, compared to HKD 3,683,318,000 for the same period last year, while free cash flow reached HKD 2,604,963,000, up from HKD 2,222,093,000[61] Business Strategy and Market Focus - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[3] - The group aims to deepen the application of artificial intelligence in business scenarios to accelerate digital transformation[31] - The group is expanding its overseas market presence in energy storage, electricity sales, and biomass businesses[31] - The group is committed to diversifying export strategies and expanding domestic demand to mitigate the impacts of tariffs and trade protectionism[28] - The group will continue to focus on "promoting repayment, expanding gross margin, reducing costs, and enhancing quality" as its overall business strategy[75] - The group aims to enhance market share by optimizing product structure and accelerating the expansion of new businesses[77] Operational Highlights - The total number of residential users connected to city gas projects reached 55.0 million, up 0.4 million from 54.6 million[34] - The total gas sales volume increased by 1.7% to 17,414 million cubic meters from 17,128 million cubic meters[34] - The company sold 17.41 billion cubic meters of natural gas, an increase of 1.7% year-on-year[42] - The number of industrial users connected increased by 9.6% to 28,262 from 25,792[41] - The group achieved LPG sales of 1.928 million tons, a decrease of 4.5% year-on-year, with total sales revenue of HKD 8,382,600,000, down 12.3% compared to the same period last year[48] Compliance and Governance - The group has adhered to corporate governance codes and confirmed compliance with the standards set for securities trading by directors[80]

Revenue Performance - The group's revenue for the six months ended September 30, 2025, decreased by 19.8% to ¥7,867.5 million (approximately $53.9 million) compared to the same period last year[2]. - Revenue from Japan decreased by 33.1%, primarily due to a strategic shift towards higher-margin self-operated channels, resulting in a 46.3% decline in wholesale business[2]. - Sales in South Korea showed a strong performance with a 44.9% increase, attributed to successful direct sales operations and renewed distributor agreements[2]. - Revenue from golf clubs fell by 16.7%, with a significant 35.0% drop in Japan, while South Korea experienced a 115.3% increase in comparable sales[2]. - Total revenue decreased by 19.8% from ¥9,814.5 million for the six months ended September 30, 2024, to ¥7,867.5 million for the six months ended September 30, 2025[26]. - Total revenue decreased by 18.1% for the six months ending September 30, 2025, compared to the same period in 2024, amounting to ¥7,867.5 million[27]. - Revenue from golf clubs fell by 18.3% to ¥5,449.5 million, primarily due to a 35.0% drop in sales in Japan, while Korea and China saw increases of 115.3% and 4.6% respectively[30]. - Revenue from golf balls decreased by 18.9% to ¥737.6 million, with a 26.6% decline in Japan, although China experienced a 57.5% growth following the launch of a new multi-ball pack[30]. - Revenue from apparel dropped by 16.6% to ¥1,118.2 million, attributed to weak consumer confidence in China[30]. - Revenue from accessories and other related products decreased by 36.8% to ¥562.1 million[31]. Profitability and Loss - The company recorded a pre-tax loss of ¥1,226.4 million (approximately $8.4 million), an improvement from a loss of ¥1,611.9 million in the previous year[4]. - Operating loss increased significantly by 310.4% from ¥351.5 million for the six months ended September 30, 2024, to ¥1,442.9 million for the same period in 2025[24]. - The net loss for the six months ended September 30, 2025, was 2,398.3 million yen, with a net loss margin of 30.5%[51]. - The total comprehensive loss for the period was ¥2,320.9 million, compared to a loss of ¥527.3 million in the previous year[77]. - Basic and diluted loss per share for the period was ¥3.96, compared to ¥1.40 in the previous year[76]. Cash Flow and Financial Position - Net cash flow from operating activities decreased from ¥4,024.4 million (approximately $26.6 million) to ¥1,922.9 million (approximately $13.2 million)[4]. - The company's cash and cash equivalents amounted to 18,243.3 million yen as of September 30, 2025[60]. - The net cash flow from financing activities for the six months ended September 30, 2025, was a negative ¥1,055,857 thousand, compared to a negative ¥1,533,944 thousand in the previous year, showing an improvement of approximately 31%[81]. - The total liabilities decreased from ¥10,654,129 thousand as of March 31, 2025, to ¥11,464,258 thousand as of September 30, 2025, reflecting an increase of approximately 7.6%[79]. - The company's total equity decreased from ¥27,680,137 thousand as of March 31, 2025, to ¥25,359,218 thousand as of September 30, 2025, a decline of approximately 8.4%[79]. Marketing and Brand Strategy - The company is focusing on enhancing brand and product awareness through targeted marketing efforts and partnerships with key opinion leaders in Asia[5]. - HONMA aims to simplify its product offerings while enhancing the TOUR WORLD product line to attract younger golfers[6]. - The company plans to invest significantly in retail networks and digital capabilities in Japan and China to improve consumer experience[5]. - The company is focusing on the ultra-high-end and ultra-performance segments of the golf market, with new product launches like the BERES 09 expected in early 2024[7]. - The company is actively recruiting young golfers with significant social media presence to strengthen brand repositioning and attract passionate golfers[9]. Operational Developments - The company opened 14 new sales points in North America, increasing the total to 384 sales points as of September 30, 2025[8]. - The company hosted a total of 1,716 customer events across major markets, primarily at golf courses, during the six months ending September 30, 2025[9]. - The company has implemented advanced e-commerce features and customer relationship management systems to enhance direct communication with consumers[7]. - The company continues to invest in electronic communications and e-commerce activities to enhance brand visibility and consumer engagement[9]. - The company has reintroduced its apparel business, focusing on functional and fashionable concepts to meet the unique needs of Chinese golfers[8]. Research and Development - Research and development expenses for the six months ended September 30, 2024, and September 30, 2025, were ¥150.7 million and ¥179.4 million, respectively, focusing on product innovation[23]. - The group reported a pre-tax loss of ¥3,642,632 thousand for the cost of sold inventory, down from ¥4,599,912 thousand in the previous year, indicating a 21% reduction[92]. - The group incurred impairment losses on property, plant, and equipment amounting to ¥61,883 thousand, significantly higher than ¥23,221 thousand in the previous year[90]. Governance and Compliance - The company has complied with all applicable corporate governance code provisions, except for deviations from specific clauses regarding the separation of roles between the chairman and CEO[135]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the interim results for the six months ending September 30, 2025[137]. - Ernst & Young has verified the financial statements for the six months ending September 30, 2025, ensuring consistency with the reported figures[137].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 CHINA YUHUA EDUCATION CORPORATION LIMITED 中國宇華教育集團有限公司 （於開曼群島註冊成立的有限責任公司） （股份代號：6169） 截至2025年8月31日止年度之 年度業績公告 摘要 中國宇華教育集團有限公司（「本公司」，連同其附屬公司及併表附屬實體統 稱「本集團」）董事（「董事」）會（「董事會」）欣然公佈本集團截至2025年8月31日 止年度（「報告期」）之經審核合併年度業績。該等年度業績經由本公司審核委 員會審閱。第5至42頁所載財務資料摘錄自截至2025年8月31日止年度的合併 財務報表，乃由本公司審計師羅兵咸永道會計師事務所根據國際審計準則審 計。 | | | 截至8月31日止年度 | | | --- | --- | --- | --- | | | 2025年 | 2024年 | 變動 | | | （人民幣 | （人民幣 | | | | 千元） | 千元 ...

(於開曼群島註冊成立的有限公司 ) 股份代號 : 8613 2025 中期報告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供一 個上市的市場。有意投資者應瞭解投資於該等公司的潛在風險，並應經過審慎周詳的考慮 後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣的 證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定提供有關東方支付集團 控股有限公司（「本公司」）之資料。本公司各董事（「董事」）願對本報告所載資料共同及個 別承擔全部責任。各董事在作出一切合理查詢後，確認就彼等所深知及確信，本報告所載 資料在各重要方面均屬準確及完備，沒有誤導或欺詐成分，且並無遺漏任何其他事項致使 本報告或其所載任何陳述產生 ...

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倚賴該等內容而引致之任何損失承擔任何責任。 （於開曼群島註冊成立並遷冊往百慕達之有限公司） （股份代號：855） 截至二零二五年九月三十日止六個月 中期業績公佈 | 截至九月三十日止六個月之未經審核財務摘要 | | | | | | --- | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | 變動 | | | | 港幣百萬元 | 港幣百萬元 | % | | | | | | 附註(1) | | 收益 總計 | | 5,183.3 | 5,952.6 | (12.9) | | 管道直飲水供應經營及管道直飲水供應安裝 | | | | | | 及維護服務 | | 192.2 | 218.3 | (12.0) | | 管道直飲水供應建設服務 | | 52.9 | 132.9 | (60.2) | | 城市供水經營及城市供水安裝及維護服務 | | 2,357.5 | 2,503.3 | (5.8) | | 城市供水建設 ...

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 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。 EC Healthcare 醫思健康 （股份代號：2138） （於開曼群島註冊成立之有限公司） 截至二零二五年九月三十日止六個月 （以 港 元 列 示） | | | | | | | | | | | | | 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 | | | | | ...

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 依賴該等內容而引致的任何損失承擔任何責任。 Edvantage Group Holdings Limited 中滙集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：0382） 截至2025年8月31日止年度的 年度業績公告 | 摘要 | | | | | | --- | --- | --- | --- | --- | | | | 截至8月31日止年度 | | 增加╱ | | | | | | （減少） | | | 附註 | 2025年 | 2024年 | 百分比 | | 收入 （人民幣千元） | | 2,489,038 | 2,311,986 | 7.7% | | （人民幣千元） 毛利 | | 1,012,287 | 1,124,144 | (10.0%) | | 本公司擁有人應佔年內利潤 | | | | | | （人民幣千元） | | 513,872 | 714,746 | (28.1%) | | 非國際財務報告準則計量 | (i) | ...

FAST RETAILING CO., LTD. 迅銷有限公司 年終報告 2024/25 2024.9.1–2025.8.31 股份代號：6288 目錄 | 1. 公司資料 | | 1 | | --- | --- | --- | | 2. 財務摘要 | | 2 | | 3. 公司概況 | | 4 | | 4. | 管理層討論及分析 | 13 | | 5. 資本開支 | | 36 | | 6. | 股份資料及股息政策 | 39 | | 7. 企業管治報告 | | 52 | | 8. 董事會 | | 59 | | 9. 財務資料 | | 70 | | 綜合財務報表 | | 71 | | (1) 綜合財務狀況表 | | 71 | | (2) 綜合損益表 | | 72 | | (3) 綜合全面收益表 | | 73 | | (4) 綜合權益變動表 | | 74 | | (5) 綜合現金流量表 | | 75 | | (6) 綜合財務報表附註 | | 76 | | 10. 財務報表 | | 127 | | (1) 資產負債表 | | 127 | | (2) 收益表 | | 129 | | (3) 資產淨值變動表 | | 1 ...

簡明綜合損益表 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。 WEALTHINK AI-INNOVATION CAPITAL LIMITED 華 科 智 能 投 資 有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：1140） 截至二零二五年九月三十日止六個月之 未經審核中期業績公告 華科智能投資有限公司（「華科智能投資」或「本公司」）董事（「董事」）會（「董事 會」）欣然宣佈本公司及其附屬公司（統稱「本集團」）截至二零二五年九月三十日 止六個月（「本期間」）之未經審核簡明業績，連同二零二四年同期之比較數字及特 定說明附註如下。 1 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 | | | | 港幣千元 | 港幣千元 | | | 附註 | （未經審核） | （未經審核） | | 營業額 ...