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，概不對因本公佈全部或任何 部份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。 網譽科技有限公司 NET-A-GO TECHNOLOGY COMPANY LIMITED （於開曼群島註冊成立的有限公司） （股份代號：1483） 截至二零二五年十二月三十一日止年度 年度業績公佈 業績 董事會公佈本公司及其附屬公司（「本集團」）截至二零二五年十二月三十一日止年度 的綜合業績連同緊接上一個年度的比較數字如下： 綜合全面收益表 截至二零二五年十二月三十一日止年度 | | 附註 | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | | 千港元 | 千港元 | | 持續經營業務 | | | | | 收入 | 4 | 288,881 | 294,721 | | 收入成本 | | (509,288) | (283,214) | | （毛虧損）╱毛利 | | (220,407) | 11,507 | | 一般及行政開支 | | (60,785) | (60, ...

Financial Performance - For the year ended December 31, 2025, revenue was RMB 885.9 million, a decrease of 5.1% compared to 2024[2] - Gross profit for the year was RMB 171.9 million, down 8.4% from 2024, with a gross margin of 19.4%, a decline of 0.7 percentage points[2] - The company reported a loss of RMB 232.1 million for the year, compared to a profit of RMB 37.7 million in 2024[2] - Basic loss per share was RMB 0.248, compared to earnings of RMB 0.042 per share in 2024[6] - Total revenue for the year ended December 31, 2025, was RMB 885,851,000, a decrease of 5.1% from RMB 933,423,000 in 2024[18] - Revenue from property management services was RMB 820,861,000, down 1.5% from RMB 832,370,000 in 2024[18] - Revenue from non-owner value-added services decreased by 39.4% to RMB 23,454,000 from RMB 38,688,000 in 2024[18] - Revenue from community value-added services fell by 33.4% to RMB 41,536,000 from RMB 62,365,000 in 2024[18] - Revenue recognized over time was RMB 875,815,000, a decrease of 3.3% from RMB 905,856,000 in 2024[21] - The company recorded a significant increase in impairment losses on other receivables, totaling RMB 264,853,000 in 2025 compared to RMB 11,624,000 in 2024[31] - The impairment loss on trade and other receivables increased significantly from RMB 36.2 million in 2024 to RMB 297.8 million in the reporting period, driven by changes in credit risk due to the ongoing downturn in the real estate sector[82] Assets and Liabilities - As of December 31, 2025, the group's cash and cash equivalents were RMB 140.4 million, down from RMB 202.2 million in 2024[7] - Trade and other receivables decreased to RMB 637.1 million from RMB 1,077.4 million in 2024[7] - Non-current assets totaled RMB 253.3 million, an increase from RMB 39.7 million in 2024[7] - Total equity decreased to RMB 464.1 million from RMB 690.2 million in 2024[8] - The company’s total liabilities increased to RMB 446,253,000 in 2025 from RMB 409,237,000 in 2024, indicating a rise in financial obligations[33] - The group’s current ratio decreased to 1.3 times as of December 31, 2025, down from 2.0 times as of December 31, 2024[94] - The group’s total borrowings as of December 31, 2025, were RMB 10.0 million, down from RMB 17.0 million as of December 31, 2024[94] Dividends and Shareholder Information - The company did not recommend any final dividend for the year ended December 31, 2025, consistent with 2024[2] - The company did not declare or recommend any dividends for the year ending December 31, 2025, consistent with 2024[29] - The company has not recommended a final dividend for the year ending December 31, 2025, consistent with the previous year[111] - The company has repurchased a total of 270,000 shares at a total cost of HKD 205,200 during the year ending December 31, 2025[114] - The company has no treasury shares as of December 31, 2025, indicating a focus on maintaining shareholder value[115] Operational Developments - The company has entered into a capital increase agreement with Deqing Kaishibo, agreeing to invest RMB 96,912,442.40 for a 30% stake in the target company, resulting in ownership of approximately 61.8% by the company, 3.3% by Zhida Xiaorui, and 34.9% by Deqing Kaishibo[35] - The acquisition of Deqing Moganshan was completed on March 18, 2026, with the company purchasing 95% and 5% stakes for RMB 74,100,000 and RMB 3,900,000 respectively, making Deqing Moganshan a subsidiary[36] - The company has expanded its geographical distribution to 41 cities across China as of December 31, 2025, enhancing its competitive edge in property management[61] - The company is focusing on deepening its presence in the Yangtze River Delta and expanding into core cities nationwide, with successful bids for multiple projects in Hangzhou, Ningbo, and Jinhua[50] - The company has initiated over 5,000 community quality upgrade projects as part of its service quality enhancement efforts[51] - The company plans to deepen the integration of resources in the hotel industry to promote the scaled and branded development of the cultural tourism and leisure sector[54] Financial Management and Strategy - The company implemented refined financial management, ensuring a robust cash flow to support operational strategies[46] - The organizational structure was optimized to enhance overall efficiency and decision-making speed, particularly in the Yangtze River Delta region[47] - The company aims to enhance its AI technology applications across various scenarios, focusing on smart technology and green low-carbon initiatives[53] - The company will continue to optimize project structures and exit low-margin and non-strategic projects to improve overall management quality[58] - The company is committed to transforming from basic property services to comprehensive lifestyle service operators, enhancing customer satisfaction and loyalty[56] - The company will increase investment in photovoltaic transformation projects and expand the application of green energy in park operations and public services[53] Audit and Compliance - The independent auditor's report issued a qualified opinion on the consolidated financial statements for the year ended December 31, 2025, due to uncertainties regarding the recoverability of a deposit of RMB 250,000,000 related to Dezhong China Holdings Limited[37] - The audit committee has reviewed the circumstances leading to the qualified opinion and discussed them with the independent auditor and the board[41] - The board and audit committee did not express a different opinion from the independent auditor regarding the qualified opinion due to its potential impact on the financial performance and disclosures[40] - The company’s audit committee, composed of three independent non-executive directors, has reviewed the financial statements and confirmed compliance with applicable accounting principles and standards[118] Future Plans and Investments - A future plan includes using part of the net proceeds from the IPO to acquire or invest in other property management companies to expand business scale and market share[100] - The company intends to enhance brand recognition and strengthen customer relationships through the planned equity acquisition in 2025, which is expected to improve management efficiency and create synergies with property service operations[107] - The expected timeline for utilizing the unutilized funds may change based on current and future market conditions[110] - The company will hold its annual general meeting on May 29, 2026, with relevant documents to be distributed to shareholders in April 2026[112] - The annual performance announcement is published on the Hong Kong Stock Exchange website and the company's website[120] - The annual report contains all relevant information as required by the Listing Rules and will be sent to shareholders in due course[120]

香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）對本公告之內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Zhejiang Shibao Company Limited* 浙江世寶股份有限公司 （於中華人民共和國註冊成立的股份有限責任公司） （股份代號：1057） 截至 2025 年 12 月 31 日止年度經審核年度業績公告 財務摘要 | | 2025年度 | 2024年度 | 同比增減 | | --- | --- | --- | --- | | | 人民幣 | 人民幣 | | | 營業總收入 | 3,548,952,008.20 | 2,693,468,867.27 | 31.76% | | 歸屬於上市公司股東的淨利潤 | 180,516,932.51 | 149,123,766.76 | 21.05% | | 歸屬於上市公司股東的扣除 非經常性損益的淨利潤 | 154,553,517.42 | 136,834,644.64 | 12.95% | | 經營活動產生的現金流量淨額 | 23 ...

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。 CORNERSTONE TECHNOLOGIES HOLDINGS LIMITED 基石科技控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8391） 截至二零二五年十二月三十一日止年度 之年度業績公佈 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM之定位，乃為相比起其他在聯交所上市之公司帶有較高投資風險之中小型公司提供 一個上市之市場。有意投資之人士應了解投資於該等公司之潛在風險，並應經過審慎周 詳之考慮後方作出投資決定。 由於GEM上市公司一般為中小型公司，在GEM買賣之證券可能會較在聯交所主板買賣之 證券承受較大之市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市場。 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 ...

Financial Performance - Total revenue for the year ended December 31, 2025, reached approximately RMB 2,027.3 million, representing a year-on-year increase of 93.7% compared to RMB 1,046.4 million in 2024[4] - Gross profit for the same period was approximately RMB 178.0 million, up 43.1% from RMB 124.4 million in 2024[4] - Net profit for the year was approximately RMB 24.7 million, reflecting a year-on-year growth of 79.3% from RMB 13.8 million in 2024[4] - Operating profit increased to RMB 36,883 thousand, representing a 67.9% rise from RMB 21,939 thousand in 2024[66] - Basic and diluted earnings per share for the year were RMB 0.19, up from RMB 0.11 in 2024[66] Revenue Breakdown - Revenue from the task and marketing personnel matching service reached approximately RMB 1,120.2 million, a substantial increase of 209.3% from RMB 362.2 million in 2024[15] - Revenue from customized marketing solutions was approximately RMB 868.7 million, showing a growth of 35.3% compared to RMB 642.1 million in 2024[15] - Revenue from marketing personnel dispatch services amounted to approximately RMB 31.4 million, up 20.3% from RMB 26.1 million in 2024[15] - Revenue from SaaS+ subscription and other services declined to approximately RMB 7.0 million, a decrease of 56.0% from RMB 15.9 million in 2024[13] Cost and Expenses - The total cost amounted to approximately RMB 1.8492 billion for the year ending December 31, 2025, an increase of approximately RMB 927.2 million or 100.6% from 2024[20] - Administrative expenses rose by approximately 22.2% to about RMB 975 million, driven by the rapid growth of the task and marketing personnel matching service[23] - The gross margin decreased to approximately 8.8% for 2025, down from 11.9% in 2024, primarily due to increased competition and strategic sacrifices during the company's expansion phase[22] Liquidity and Financial Position - The current ratio improved to 3.0 from 2.5 in the previous year, indicating better liquidity management[5] - Cash and cash equivalents decreased by approximately 23.9% to about RMB 1.214 billion, mainly due to the use of funds from the company's initial public offering[32] - Total liabilities decreased to RMB 232,649 thousand in 2025 from RMB 321,043 thousand in 2024, a reduction of 27.5%[68] Strategic Focus and Future Plans - The company is focusing on AI-driven solutions to enhance operational efficiency and market presence, particularly in the retail sector[7] - The group completed a fundamental transformation into an AI-focused company in the retail sector over the past year[42] - The group plans to expand into overseas markets including Vietnam, Indonesia, Australia, Japan, South Korea, and the UK starting in 2026[46] - The group will actively seek strategic investments and partnerships to enhance its AI capabilities and industry influence[49] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial data and risk management[54] - The audit committee confirmed compliance with applicable accounting principles for the fiscal year ending December 31, 2025, despite a reservation noted in the independent auditor's report[55] Shareholder Information - The company plans to hold its annual general meeting on May 20, 2026, with a suspension of share transfer registration from May 15 to May 20, 2026[65] - The board has decided not to declare any final dividends for the fiscal year ending December 31, 2025, to retain cash for operational activities and business development[61]

Financial Performance - The group's revenue for the year ended December 31, 2025, was approximately RMB 18,711.2 million, a decrease of about 9.8% compared to RMB 20,746.8 million in 2024[4] - The overall gross profit was approximately RMB 222.0 million, down about 71.5% from RMB 779.1 million in 2024, resulting in a gross profit margin of 1.2%, a decline of 2.6 percentage points from 3.8% in 2024[4] - Operating loss was approximately RMB 1,605.8 million, an increase of about 192.5% from RMB 549.0 million in 2024[4] - The net loss for the year was approximately RMB 2,490.4 million, up about 62.9% from RMB 1,529.1 million in 2024[4] - The company reported a basic and diluted loss per share of RMB 37.0, compared to RMB 56.0 in 2024[6] - Revenue from the sale of passenger cars was RMB 14,202,038 thousand in 2025, down from RMB 15,978,627 thousand in 2024, representing a decline of approximately 11.1%[17] - The group reported a net loss of RMB 2,490 million for the year ending December 31, 2025, with total liabilities amounting to RMB 6,515 million, a decrease from RMB 8,333 million in 2024[13] - Other income decreased significantly to RMB 273,250 thousand in 2025 from RMB 737,723 thousand in 2024, a decline of about 63.0%[21] - The company incurred a consolidated pre-tax loss of RMB 2,427,540 for the year ended December 31, 2025, compared to a loss of RMB 1,482,008 in 2024[40] - The company reported a net loss of RMB 2,674,355,000 attributable to ordinary shareholders for the year ended December 31, 2025, compared to RMB 1,708,506,000 in 2024[32] Assets and Liabilities - Non-current assets decreased to RMB 12,352.8 million from RMB 13,896.9 million in 2024[7] - Current assets decreased to RMB 12,944.9 million from RMB 15,321.3 million in 2024[8] - Total liabilities decreased to RMB 19,460.2 million from RMB 23,654.2 million in 2024[8] - The company's net asset value increased to RMB 1,581.4 million from RMB 1,069.7 million in 2024[8] - Total assets decreased from RMB 29,218,236 thousand in 2024 to RMB 25,297,753 thousand in 2025, a decline of approximately 13.3%[41] - The company's total liabilities for the reportable segments were RMB 17,751,534 as of December 31, 2025, compared to RMB 21,464,914 in 2024[39] - Total liabilities decreased from RMB 28,148,498 thousand in 2024 to RMB 23,716,353 thousand in 2025, a reduction of approximately 15.7%[41] Operational Highlights - The company achieved new car sales of 57,909 units in 2025, representing a year-on-year increase of 5.19%[108] - The company reported a total of 1,054,622 after-sales service instances, generating after-sales service revenue of approximately RMB 3,268.8 million[109] - The company opened 8 new new energy user centers in 2025, including 2 AITO user centers and 6 Hongmeng Zhixing user centers[113] - The total revenue of the supply chain subsidiary, Shengze Jietong, was approximately RMB 368.3 million in 2025, with a vehicle logistics dispatch volume of 206,000 units[116] - The company established 11 overseas warehouses, expanding its international business into markets such as Poland, Spain, Libya, and Egypt[117] - The company secured new car annual export authorization from Dongfeng Motor and achieved its first business transaction during the year[118] Strategic Initiatives - The company is focusing on the transformation to new energy and accelerating the incubation of emerging businesses and international market layout[2] - The company aims to enhance profitability by optimizing brand structure and strengthening strategic partnerships with brand manufacturers[115] - The company plans to enhance network quality and asset efficiency through store transformation and integration, focusing on new energy brands, particularly those authorized by Huawei[144] - The company is considering entering spot trading for certain commodities in response to global trade tensions and regional conflicts, with plans to cautiously explore related futures derivatives business[144] Shareholder and Corporate Governance - The company issued 6,669,060,524 shares at a subscription price of HKD 0.15 per share, raising approximately HKD 1,000,359,000 (equivalent to RMB 916,749,000) after deducting related expenses[69] - The company did not hold any treasury shares as of December 31, 2025[153] - Public shareholding was approximately 9.29% after the offer, leading to a temporary suspension of trading on July 2, 2025[154] - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[156] - The board confirmed compliance with the securities trading code during the fiscal year ending December 31, 2025[158] Future Outlook - The estimated annual revenue growth rate for 2025 is projected to be between -1.8% and 14.5%, indicating potential volatility in future earnings[49] - The company plans to enhance its operational foundation and accelerate business structure transformation from 2026 to 2028, focusing on addressing survival issues[146]

Financial Performance - The company reported total revenue of HKD 769,205,000 for the year ending December 31, 2025, representing a 14.0% increase from HKD 674,764,000 in 2024[3]. - The net loss for the year was HKD 240,951,000, compared to a net loss of HKD 229,199,000 in the previous year, indicating a decline in profitability[4]. - The company's operating loss was HKD 196,170,000, slightly improved from an operating loss of HKD 201,321,000 in 2024[3]. - The group reported a net loss attributable to equity shareholders of HKD 238,492,000 for 2025, compared to a loss of HKD 229,199,000 in 2024, reflecting a slight increase in losses[19]. - The net loss for the year was HKD 241,000,000, compared to a net loss of HKD 229,200,000 in the previous year, primarily due to increased expected credit losses and higher overall costs[72]. Assets and Liabilities - Total assets decreased to HKD 1,740,514,000 in 2025 from HKD 1,815,477,000 in 2024, reflecting a reduction in overall asset value[5]. - Total liabilities as of December 31, 2025, are HKD 1,353,512,000, with significant liabilities in the iron ore mining segment (HKD 719,240,000)[23]. - The company's cash and cash equivalents dropped to HKD 10,584,000 from HKD 21,723,000, highlighting liquidity challenges[5]. - The total borrowings increased significantly to HKD 834,455,000, with HKD 380,570,000 and HKD 438,747,000 being overdue[8]. - The company's total liabilities related to bank loans and interest have been upheld by a civil judgment, requiring immediate repayment[48]. Revenue Breakdown - The sales revenue from the supply chain business was HKD 455,391,000 in 2025, down from HKD 573,068,000 in 2024, indicating a decline of about 20.6%[14]. - The mining business recorded revenue of HKD 237,100,000 but incurred a segment loss of HKD 52,600,000, attributed to underutilization of production capacity and unfavorable iron ore price trends[64]. - The combined revenue from the supply chain and mining businesses increased to HKD 693,100,000, with a total segment loss of HKD 147,300,000, including non-cash items totaling HKD 150,300,000[64]. - The hotel management and catering services segment recorded a revenue decline from HKD 96,200,000 to HKD 74,900,000, a decrease of HKD 21,300,000[69]. Financial Strategy and Forecasts - The company plans to improve its financial situation by negotiating with creditors and potentially selling non-current assets to repay debts[9]. - The company has forecasted cash flow projections covering until June 30, 2027, indicating a strategy to ensure sufficient financial resources for operational needs[8]. - The group plans to enhance credit control measures and regularly review the recoverability of trade receivables to address challenges in the supply chain and mining sectors[65]. - The group aims to release mining capacity to effectively dilute fixed cost burdens and diversify revenue sources in the supply chain business[65]. Impairments and Losses - The company recorded a fair value loss on investment properties of HKD 40,668,000, compared to a loss of HKD 14,547,000 in the previous year[3]. - The group reported a significant increase in expected credit loss provisions for trade receivables, amounting to HKD 80,285,000 in 2025, compared to HKD 4,880,000 in 2024[16]. - The company recorded a significant impairment loss of HKD 164,648,000 in the restaurant services segment for the year ending December 31, 2024[24]. - The expected credit loss provision increased significantly from HKD 4,800,000 to HKD 85,300,000, mainly due to delayed payments from certain customers in the supply chain business[70]. Corporate Governance and Compliance - The company has applied the principles of the corporate governance code and complied with applicable code provisions, with some deviations noted regarding the roles of the chairman and CEO[96]. - All directors have complied with the standard code of conduct for securities transactions during the year ending December 31, 2025[97]. - The audit committee reviewed the accounting principles and practices adopted by the group and discussed audit, internal control, and financial reporting matters[98]. - The annual report containing all information required by the listing rules will be sent to shareholders and published on the Stock Exchange and the company's website[99].

Financial Performance - The total revenue for the fiscal year ending December 31, 2025, was RMB 1,002,543,000, a decrease of 61.5% compared to RMB 2,602,700,000 in 2024[4] - The gross profit for the fiscal year was RMB 138,233,000, significantly up from RMB 20,423,000 in the previous year, indicating a substantial improvement in profitability[4] - The net income for the year was RMB 56,067,000, a recovery from a net loss of RMB 2,041,311,000 in 2024, reflecting a turnaround in financial performance[5] - The financial income for the year was RMB 81,000, down from RMB 4,501,000, reflecting a decline in financial returns[4] - The pre-tax profit for 2025 was RMB 65.022 million, compared to RMB 68.035 million in 2024, reflecting a slight decline[20] - The group achieved a historic turnaround with a net profit attributable to equity shareholders of approximately RMB 73.0 million in fiscal year 2025, reversing a loss of approximately RMB 1,834.6 million in the previous fiscal year[53] Cost and Expenses - The cost of sales decreased to RMB 864,310,000 from RMB 2,582,277,000, showing a reduction in operational costs[4] - The administrative expenses increased to RMB 237,551,000 from RMB 79,065,000, indicating higher operational overheads[4] - Employee costs surged to RMB 178.698 million in 2025 from RMB 58.441 million in 2024, indicating a significant increase in workforce expenses[21] - Depreciation and amortization expenses rose to RMB 196.042 million in 2025 from RMB 4.522 million in 2024, highlighting increased asset utilization[22] - The group reported a tax expense of RMB 86.354 million in 2025, down from RMB 466.316 million in 2024, primarily due to changes in land value tax[23] - The company recorded a significant decrease in sales and distribution costs, amounting to approximately RMB 10.5 million, down about 84.1% from RMB 66.2 million in the 2024 fiscal year[47] Assets and Liabilities - Total non-current assets increased to RMB 7,375,368 thousand in 2025 from RMB 1,636,082 thousand in 2024, representing a significant growth[6] - Current assets decreased to RMB 5,255,182 thousand in 2025 from RMB 11,021,786 thousand in 2024, indicating a decline of approximately 52.3%[6] - Total liabilities decreased to RMB 4,990,737 thousand in 2025 from RMB 7,585,593 thousand in 2024, reflecting a reduction of about 34.1%[6] - Non-current liabilities totaled RMB 3,657,772 thousand in 2025, down from RMB 4,754,486 thousand in 2024, showing a decrease of approximately 23.1%[7] - The company's net asset value increased to RMB 3,982,041 thousand in 2025 from RMB 100,207 thousand in 2024, a substantial rise[7] - The company's equity attributable to shareholders rose to RMB 3,944,559 thousand in 2025 from RMB 389,126 thousand in 2024, marking a significant increase[7] Acquisitions and Business Development - The company completed the acquisition of "Tian Dun Data," a leading enterprise in computing power, in October 2025, which will contribute to its AI business segment[3] - The group completed the acquisition of "Tian Dun Data," a leader in computing power, in October 2025, focusing on infrastructure, AI computing technology services, and high-performance server integration and delivery[18] - The company has successfully completed the acquisition of Shenzhen Tiandun Data Technology Co., marking its transition from traditional urban development operations to AI computing infrastructure operations[36] - The company has introduced new AI computing services, contributing to its revenue diversification strategy[19] Market Position and Future Outlook - The company is positioned to benefit from the global AI and large model technology boom expected in 2025, aligning with macroeconomic trends[34] - The company has established a comprehensive service ecosystem in AI computing, including multi-source heterogeneous computing and AI application incubation[37] - The company plans to build a super-large-scale computing cluster with a capacity of 100,000 cards, focusing on leading industry development directions[38] - The total amount of computing power orders held by the company exceeds RMB 15 billion, indicating strong market recognition and a solid cash flow guarantee for the next 3 to 5 years[36] Shareholder and Governance Matters - The board of directors has not recommended the payment of a final dividend for the fiscal year 2025[72] - The company has maintained the required public float of at least 25% of its issued shares throughout the year[73] - The board confirmed compliance with corporate governance codes, although it currently does not meet the diversity requirements as all six directors are male[86] - The audit committee consists of three independent non-executive directors, including Dr. Han Qinchun as the chairman[89] Compliance and Reporting - The company has not applied any new or revised international financial reporting standards that would significantly impact the financial statements in the foreseeable future[9] - The group is currently assessing the specific impact of IFRS 18 on its consolidated financial statements, expected to affect the structure and presentation of future financial reports[17] - The financial data announced for the current year aligns with the consolidated financial statements for fiscal year 2025, as verified by the auditing firm[91] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website[92]

Financial Performance - Total revenue for the fiscal year 2025 was approximately RMB 346.4 million, representing a year-on-year decrease of about 24.5%[4] - Gross profit for the fiscal year 2025 was approximately RMB 3.9 million, down approximately 91.5% year-on-year[4] - Loss attributable to owners of the company for the fiscal year 2025 was approximately RMB 383.0 million, compared to a loss of RMB 210.3 million in the fiscal year 2024[4] - Basic loss per share for the fiscal year 2025 was approximately RMB 3.57, compared to RMB 2.12 in the fiscal year 2024[4] - Total comprehensive loss for the fiscal year 2025 was approximately RMB 381.7 million, compared to RMB 208.6 million in the fiscal year 2024[6] - The group reported a pre-tax loss of RMB 294,621 thousand for the year ending December 31, 2025, compared to a loss of RMB 252,629 thousand for the year ending December 31, 2024[32] - The company reported a pre-tax loss of RMB 94,926,000 for the year ending December 31, 2025, compared to RMB 134,508,000 for the year ending December 31, 2024[28] - The group's annual loss increased by approximately 83.0% from RMB 208.6 million in FY2024 to about RMB 381.7 million in FY2025[63] Revenue Breakdown - Revenue from on-board high-pressure hydrogen systems and related products for the year ending December 31, 2025, is RMB 158,487,000, a decrease from RMB 279,089,000 for the year ending December 31, 2024[18] - Revenue from hydrogen station equipment and related products for the year ending December 31, 2025, is RMB 88,823,000, down from RMB 147,945,000 for the year ending December 31, 2024[18] - The contribution of the water electrolysis hydrogen production business to the company's revenue increased significantly from 6.9% in fiscal year 2024 to 28.6% in fiscal year 2025, indicating a strategic shift towards emerging business areas[43] - The revenue from water electrolysis hydrogen production equipment and related products saw a remarkable increase of 213.7% compared to the previous year, highlighting the effectiveness of the company's diversification strategy[51] Expenses and Costs - Research and development expenses for the fiscal year 2025 were approximately RMB 35.9 million, down from RMB 43.8 million in the fiscal year 2024[5] - Total employee costs for the year ending December 31, 2025, amounted to RMB 120,669,000, a decrease from RMB 163,276,000 for the year ending December 31, 2024[28] - The sales cost decreased by approximately 17.0% from about RMB 412.7 million in fiscal year 2024 to approximately RMB 342.5 million in fiscal year 2025, consistent with the decline in revenue[52] - The group's administrative expenses decreased by approximately 9.2% from RMB 140.6 million in FY2024 to about RMB 127.6 million in FY2025, mainly due to reduced share-based payments[59] - Interest expenses on borrowings increased to RMB 37,373,000 for the year ending December 31, 2025, from RMB 33,091,000 for the year ending December 31, 2024[27] Assets and Liabilities - Total assets increased to RMB 1,743,503 thousand in 2025, up from RMB 1,433,003 thousand in 2024, representing a growth of approximately 21.6%[7] - Total liabilities increased to RMB 508,872 thousand in 2025, up from RMB 440,095 thousand in 2024, representing a rise of approximately 15.6%[8] - The company's borrowings increased to RMB 1,014,091 thousand in 2025, compared to RMB 926,579 thousand in 2024, indicating a growth of around 9.4%[8] - The company's equity attributable to owners increased to RMB 1,216,649 thousand in 2025, compared to RMB 991,025 thousand in 2024, reflecting a growth of about 22.8%[8] - The group's asset-liability ratio decreased to approximately 59.2% as of December 31, 2025, from 61.3% as of December 31, 2024, due to the issuance of new H-shares[66] Government Grants and Other Income - Other income for the fiscal year 2025 was approximately RMB 40.3 million, compared to RMB 15.9 million in the fiscal year 2024[5] - Government grants received increased significantly to RMB 35,237,000 for the year ending December 31, 2025, compared to RMB 12,643,000 for the year ending December 31, 2024[25] Strategic Focus and Future Plans - The company plans to focus on optimizing the business structure in the transportation sector, emphasizing operational economic viability and project quality in key areas such as heavy trucks and public transport[47] - The company aims to accelerate the commercialization of liquid hydrogen and low-temperature equipment, leveraging experience from the 10 tons/day liquid hydrogen demonstration project[47] - The company anticipates that future growth opportunities will increasingly arise from industrial, energy, and international markets, with a focus on green hydrogen production and localized expansion[46] - The company aims to maintain its core business while expanding into new areas such as special equipment manufacturing and sales[87] Corporate Governance and Shareholder Communication - The company has complied with all applicable corporate governance codes during the fiscal year 2025[78] - The company is committed to timely communication with shareholders regarding the annual general meeting and proposed changes[90] - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[92] Capital and Financing - The net proceeds from the global offering amounted to approximately HKD 339.7 million (equivalent to approximately RMB 314.5 million) after deducting underwriting fees and other expenses[74] - As of December 31, 2025, the allocation of net proceeds is as follows: 56% (RMB 176.5 million) for expanding production capacity, with RMB 146.2 million already utilized[75] - The company plans to enhance R&D capabilities and continue technology upgrades, allocating 34% (RMB 106.6 million) of the proceeds, with RMB 46.2 million already utilized[76]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公佈全部或任何 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。 中國星集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：326） | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 千港元 | 千港元 | | 經營虧損 | | (434,530) | (214,495) | | 融資成本 | 7 | (100,154) | (134,827) | | 除稅前虧損 | 8 | (534,684) | (349,322) | | 所得稅抵免╱（開支） | 9 | 1,081 | (1,307) | | 年度虧損 | | (533,603) | (350,629) | | 以下人士應佔年度（虧損）╱溢利： | | | | | 本公司擁有人 | | (443,759) | (351,930) | | 非控股權益 | | (89,844) | 1,301 | | | | (533,603) | (350,62 ...