GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司帶有更高投 資風險。有意投資的人士應了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買賣之證券可能會較於聯交所主板買賣之證券承受較大的市 場波動風險，同時無法保證在GEM買賣之證券會有高流通量的市場。 亦辰集團有限公司 香港聯合交易所有限公司（「聯交所」）GEM之特色 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，概不會就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。 亦辰集團有限公司（「本公司」）董事願就本年報之資料共同及個別地承擔全部責任，本年報乃遵照聯交所 GEM證券上市規則（「GEM上市規則」）之規定而提供有關本公司之資料。本公司董事（「董事」）在作出一切 合理查詢後，確認就其所深知及確信，本年報所載資料在各重大方面均屬準確及完整，且無誤導或欺詐成分， 及並無遺漏任何其他事實致使本年報或其所載任何陳述產生誤導。 1 年報 2024 - 2025 目錄 | | 頁次 ...

Financial Performance - The company reported a revenue of approximately HKD 467.1 million for the fiscal year ending September 30, 2025, a decrease of about HKD 269.5 million or 36.6% compared to the previous fiscal year[10]. - Other income for the fiscal year 2025 was approximately HKD 1.9 million, a decrease of about HKD 1.6 million compared to the previous fiscal year, primarily due to reduced bank interest income[11]. - The gross profit margin increased from 1.8% in the fiscal year 2024 to 3.1% in the fiscal year 2025, driven by improved profit margins on completed projects[10]. - The company announced an interim dividend of HKD 0.03 per share for the fiscal year 2025, totaling HKD 20 million, compared to zero in the fiscal year 2024[68]. - The company did not recommend a final dividend for the fiscal year 2025, consistent with the previous fiscal year[69]. - The company's distributable reserves as of September 30, 2025, were approximately HKD 139.9 million, which includes share premium and share option reserves after deducting accumulated losses[74]. Contracts and Projects - The company has secured long-term contracts totaling over HKD 1.9 billion, which will contribute to stable revenue over the next few years[9]. - As of September 30, 2025, the group has secured several significant contracts exceeding HKD 1,900 million, supported by ongoing government investments in various construction projects in Hong Kong[26]. - The company is focusing on four major projects, including the second phase of the Kai Tak New Emergency Hospital and the Kwong Wah Hospital, to enhance its service offerings[9]. - The company has completed the first phase of the Kai Tak New Emergency Hospital and is progressing with the second phase, contributing to its project pipeline[9]. Employee and Workforce Management - The number of long-term employees decreased from 86 to 84, while short-term employees decreased from 1,022 to 547 as of September 30, 2025[18]. - The total number of employees as of September 30, 2025, was 631, down from 1,108 in the previous year, including 84 long-term employees and 547 short-term employees[139]. - The employee turnover rate for males was 4% in 2025, compared to 3% in 2024, while for females it remained at 0%[164]. - The total employee training hours decreased from 4,955 hours in 2024 to 2,930 hours in 2025, representing a reduction of approximately 41%[174]. - The number of trained employees decreased from 1,108 in 2024 to 631 in 2025, a decline of about 43%[174]. - The average training hours per employee increased slightly from 4.47 hours in 2024 to 4.64 hours in 2025, an increase of approximately 3.8%[174]. - The company maintained a 100% training participation rate among employees in both 2024 and 2025[174]. Corporate Governance - The board consists of five members, including the chairman and CEO, with a commitment to maintaining high standards of corporate governance[30]. - The company has adopted the standard code of conduct for securities trading by directors and confirmed compliance for the fiscal year 2025[29]. - The board held four meetings during the fiscal year, with some meetings having less than the required 14 days' notice for members[30]. - The company emphasizes continuous professional development for directors, ensuring compliance with corporate governance codes[37]. - The board confirmed that the financial statements accurately reflect the group's financial position and performance, adhering to all relevant statutory requirements and accounting standards[49]. - The company has adopted corporate governance policies and practices to ensure compliance with legal and regulatory requirements[39]. - All independent non-executive directors have submitted annual confirmations of their independence, and the company considers them to be independent individuals[114]. Risk Management and Internal Controls - The company has established a prudent internal control framework to assess and manage risks[35]. - The board believes that the risk management and internal control systems are effective and sufficient, complying with the corporate governance code[48]. - The internal audit function reviewed the effectiveness of the group's risk management and internal control systems, reporting findings and recommendations to the audit committee and board[47]. - The company will regularly follow up on corrective actions to ensure that identified weaknesses are appropriately addressed[47]. Environmental, Social, and Governance (ESG) Initiatives - The group’s ESG report outlines its commitment to sustainable development and includes key performance indicators related to emissions and resource usage[127][133]. - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification, ensuring compliance with applicable environmental laws and regulations[137]. - The total greenhouse gas emissions for the reporting period were approximately 58.76 tons, a decrease from 71.70 tons in the previous year, with an emissions density of 0.09 tons per employee compared to 0.06 tons per employee in the prior year[139]. - The company aims to reduce greenhouse gas emissions by 2% in the upcoming year, implementing measures such as optimizing vehicle routes and using low-sulfur fuel[139]. - The company has implemented measures to reduce energy consumption, thereby minimizing its carbon footprint[140]. - The group aims to reduce energy consumption by 2% in the upcoming year, including water usage[146]. - The company has established appropriate management policies and internal control systems for ESG matters during the reporting period[135]. Shareholder Information - The company has a total of 138,856,000 shares held by Mr. Gao Junxi, representing 22.79% of the issued share capital[82]. - Mr. Gao Junxi also holds 302,747,000 shares through a controlled corporation, accounting for 45.40% of the issued share capital[82]. - Ms. Gao Yongli holds 6,600,000 shares, which is 0.99% of the issued share capital[82]. - Major shareholders as of September 30, 2025, include Mr. Gao Junxi with 68.19% and Da De Investment Trading Co., Ltd. with 45.40% of the issued shares[108]. Supplier and Customer Relationships - The company has a strong focus on maintaining good relationships with suppliers, subcontractors, and customers to achieve its current and long-term goals[78]. - The top five customers accounted for approximately 99.5% of the total revenue in the fiscal year 2025, with the largest customer contributing about 80.2%, up from 63.9% in the fiscal year 2024[76]. - The top five suppliers represented about 41.3% of total material costs in the fiscal year 2025, a decrease from 67.1% in the fiscal year 2024, with the largest supplier accounting for 10.9%[77]. - The company reported that the top five subcontractors accounted for approximately 98.9% of total subcontracting fees in the fiscal year 2025, with the largest subcontractor contributing 90.0%[77]. Charitable Contributions - The group made charitable donations of approximately HKD 250,000 in the fiscal year 2025, compared to HKD 1,100,000 in the fiscal year 2024[124]. - The company donated approximately HKD 250,000 to charitable organizations during the reporting period, compared to HKD 1,110,000 in 2024[189].

Financial Performance - For the six months ended November 30, 2025, the Company reported revenue of RM 18,905,000, an increase of 21.5% compared to RM 15,494,000 in the same period of 2024[14]. - Gross profit for the same period was RM 5,446,000, reflecting a growth of 26.3% from RM 4,311,000 in 2024[15]. - Profit before taxation increased to RM 1,406,000, up 3.9% from RM 1,353,000 in the previous year[15]. - Profit for the period from continuing operations was RM 789,000, compared to RM 747,000 in the same period last year, marking a 5.6% increase[15]. - Total comprehensive income for the period increased to RM 628,000, compared to RM 254,000 in the previous year, representing a growth of 147.2%[16]. - Basic earnings per share from continuing operations rose to 4.83 RM cents, up from 4.77 RM cents, reflecting a 1.3% increase[16]. - The company reported a profit for the period of RM 789,000, compared to RM 722,000 in the previous year, an increase of 9.3%[20]. Expenses and Costs - Administrative expenses rose to RM 2,710,000, up from RM 2,516,000, indicating a 7.7% increase year-over-year[15]. - Selling and distribution expenses increased to RM 1,213,000, compared to RM 899,000 in the previous year, representing a 35% rise[15]. - Finance costs increased to RM 104,000 from RM 46,000, showing a significant rise of 126.1%[15]. - Cost of inventories recognized as an expense was RM 8,390,000, compared to RM 7,338,000 in the prior year, representing an increase of approximately 14.4%[51]. - Staff costs, excluding directors' remuneration, amounted to RM 2,471,000, up from RM 2,154,000, indicating a rise of about 14.7%[51]. Assets and Liabilities - Non-current assets totaled RM 22,100,000 as of November 30, 2025, a slight decrease from RM 22,395,000 as of May 31, 2025[17]. - Current assets decreased to RM 31,771,000 from RM 32,768,000, indicating a decline of 3%[18]. - Total equity increased to RM 37,336,000 from RM 36,708,000, marking a growth of 1.7%[18]. - Total non-current liabilities decreased to RM 6,064,000 from RM 6,360,000, reflecting a reduction of 4.6%[18]. - The Group's total liabilities as of November 30, 2025, are RM10,101,000, compared to RM11,280,000 as of May 31, 2025[79]. Cash Flow - Net cash generated from operating activities for the six months ended 30 November 2025 was RM 3,161,000, compared to a cash used of RM 1,141,000 in the same period of 2024[21]. - Net cash used in investing activities was RM 1,706,000 for the six months ended 30 November 2025, a decrease from RM 1,930,000 in the previous year[21]. - Net cash used in financing activities amounted to RM 407,000 for the six months ended 30 November 2025, compared to a cash generated of RM 198,000 in the same period of 2024[22]. - The total cash and cash equivalents at the end of the period was RM 22,181,000, a decrease from RM 23,432,000 in the previous year[22]. Market and Operations - The company is engaged in manufacturing and trading precast concrete junction boxes and providing mobile crane rental services in Malaysia, as well as operating an e-commerce platform in China[25]. - The Group manufactures precast concrete junction boxes for telecommunication and electrical infrastructures, which are used in various construction projects in Malaysia[94]. - The Group has been a registered supplier for notable telecommunication companies since 2008 and for Tenaga National Bhd. since 2012, enhancing its market position[95]. - The Group has entered the e-commerce platform business following the acquisition of Shenzhen Wanshun eCar Cloud Tech & Information Co., Ltd., contributing approximately RM70,000 in revenue during the period[105]. Share Capital and Dividends - The company did not recommend the payment of a dividend for the six months ended 30 November 2025, consistent with the previous year[66][68]. - The Group's issued and fully paid share capital as of November 30, 2025, is RM13,081,000, with a total of 16,352,000 shares issued[85]. - The Group entered into an agreement to acquire 1% of the registered capital of a target company for a total consideration of HK$34 million, to be settled through the issuance of promissory notes[121]. Taxation - For the six months ended 30 November 2025, the Malaysia corporate income tax was calculated at a statutory rate of 24%, resulting in a tax expense of RM 617,000, compared to RM 606,000 for the same period in 2024[55][56]. - The Hong Kong Profits Tax for the six months ended 30 November 2025 was calculated at a rate of 16.5%, with no assessable profits leading to no tax provision for the period[57][58]. Risks and Compliance - The Group is exposed to credit risk and liquidity risk due to reliance on cash inflow from customers[173]. - The Group faces operational risks due to fluctuations in raw material prices, which may adversely impact financial results[172]. - The Company has complied with the Corporate Governance Code, except for the separation of roles between the chairman and CEO[179]. - The Company has complied with relevant laws and regulations that significantly impact its operations during the reporting period[193].

Financial Performance - The company reported revenue of HKD 18,905,000 for the six months ending November 30, 2025, representing an increase from HKD 15,494,000 in the same period last year, which is a growth of approximately 21.5%[5] - Gross profit for the same period was HKD 5,446,000, up from HKD 4,311,000, indicating a year-over-year increase of about 26.3%[5] - The company achieved a profit before tax of HKD 1,406,000, compared to HKD 1,353,000 in the prior year, marking a growth of about 3.9%[5] - The net profit attributable to shareholders from continuing operations was HKD 789,000, compared to HKD 747,000 in the previous year, showing an increase of approximately 5.6%[5] - The company reported a comprehensive income total of 628 thousand HKD for the six months ended November 30, 2025, which includes a profit of 789 thousand HKD[9] - The group reported a pre-tax profit of 8,390 thousand Ringgit for the six months ending November 30, 2025, compared to 7,338 thousand Ringgit for the same period in 2024, representing a year-over-year increase of approximately 14.4%[25] - The group recorded a net profit of approximately 789,000 MYR for the six months ended November 30, 2025, due to a focus on higher-margin precast junction boxes and ongoing cost control[55] Expenses and Costs - The company incurred a selling and distribution expense of HKD 1,213,000, compared to HKD 899,000 in the previous year, reflecting a rise of approximately 35%[5] - The company’s administrative expenses were HKD 2,710,000, compared to HKD 2,516,000 in the previous year, reflecting an increase of about 7.7%[5] - Employee compensation costs, including salaries and other benefits, increased to 2,285 thousand Ringgit in 2025 from 2,032 thousand Ringgit in 2024, reflecting a growth of about 12.4%[25] - The company incurred interest expenses of 22 thousand Ringgit for the six months ending November 30, 2025, compared to 4 thousand Ringgit in the previous year, indicating a significant increase in financing costs[24] - Sales and distribution expenses rose by approximately 34.93%, from about 899,000 MYR to about 1.2 million MYR[54] Assets and Liabilities - The total assets amounted to 43,400 thousand, reflecting a stable financial position[8] - The total liabilities were reported at 22,100 thousand, which is a slight decrease from 22,395 thousand[7] - The net value of current assets was 31,771 thousand, showing a decrease from 32,768 thousand, suggesting a need for closer asset management[7] - The company reported a total of 10,101 thousand in current liabilities, down from 11,280 thousand, indicating better management of short-term obligations[7] - The company’s total equity stood at 37,336 thousand, compared to 36,708 thousand, indicating a positive trend in shareholder equity[8] Cash Flow - Cash and cash equivalents increased to 4,681 thousand, compared to 4,054 thousand in the previous period, indicating improved liquidity[7] - The net cash generated from operating activities for the six months ended November 30, 2025, was 3,161 thousand HKD, compared to a net cash used of (1,141) thousand HKD in the previous year[10] - The net cash used in investing activities for the six months ended November 30, 2025, was (1,706) thousand HKD, compared to (1,930) thousand HKD in the previous year[10] - The cash and cash equivalents at the end of November 30, 2025, were 22,181 thousand HKD, down from 23,432 thousand HKD in the previous year[11] Market and Business Strategy - The company is focused on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[5] - The increase in revenue was primarily driven by higher sales of customized precast concrete junction boxes during the reporting period[50] - The group has diversified its business portfolio by entering the e-commerce platform sector, generating approximately 70,000 MYR in revenue during the period[51] - The company plans to use the net proceeds of approximately 4,239,880 HKD from a subscription agreement for general working capital[44] - The company is focused on expanding its market reach and exploring potential mergers and acquisitions[100] Shareholder Information - The basic earnings per share (EPS) from continuing operations was 4.83, up from 4.77, indicating a growth in profitability[6] - The company reported a total of 16,351,632 ordinary shares outstanding for the calculation of basic earnings per share, an increase from 15,666,591 shares in the previous year[31] - Major shareholders include Loh Swee Keong with 17.80% and Li Mingfeng with 16.67% of the shares[77] - As of November 30, 2025, the directors and key executives hold 2,911,200 shares, representing 17.80% of the company's issued share capital[75] Compliance and Governance - The company has complied with all relevant laws and regulations that significantly impact its operations as of November 30, 2025[94] - The audit committee, consisting of three members, has reviewed the company's financial statements and confirmed compliance with applicable standards and GEM listing rules[99] - The board emphasizes the importance of corporate governance and compliance[100] Risks and Challenges - The group faces significant operational risks related to competition and overall economic conditions affecting construction projects[84] - The group relies on cash inflows from customers to meet payment obligations to suppliers, exposing it to credit and liquidity risks[86] - The group monitors foreign currency risks closely, as fluctuations in the Malaysian Ringgit can impact financial performance and dividend payments[80]

Financial Performance - Total revenue increased by 37.3% to HK$729.9 million for the year ended 30 September 2025, compared to HK$531.6 million in 2024[12] - Net profit rose significantly by 121.4% to HK$146.9 million, compared to HK$66.4 million in 2024[12] - Basic earnings per share increased to HK2.18 cents, up from HK0.98 cent in the previous year[13] - Revenue from global financial markets surged by 94.5% to HK$540.7 million, up from HK$278.0 million in the previous year[12] - Revenue from the financing segment was HK$180.4 million (2024: HK$242.8 million), accounting for 24.7% of the Group's total revenue (2024: 45.7%) [29] - Revenue from the corporate finance segment was HK$8.8 million (2024: HK$10.8 million), accounting for 1.2% of the Group's total revenue (2024: 2.0%) [31] Market Environment - The macroeconomic environment remained challenging, influenced by geopolitical tensions and inflationary pressures, affecting global financial markets[14] - The Federal Reserve's interest rate cut in September 2025 positively influenced stock markets, contributing to the overall market recovery[16] - The Hang Seng Index closed at its highest level of 26,855 on 30 September 2025, reflecting a rebound in capital market investment sentiment[16] Strategic Initiatives - The acquisition of Crosby Asia Limited was completed in September 2025, enhancing the Group's institutional financial services offerings [24] - The Group aims to strengthen its global financial markets team to enhance its brokerage, wealth management, and asset management services[34] - The Group has developed a niche in the loan market, providing tailored liquidity solutions to corporate and retail clients [28] - The Group's integrated business model and diversification strategies are designed to meet customer demands in a volatile economic environment[35] Risk Management - The Group adopted a stringent credit risk management mechanism to minimise default risks in its financing segment [29] - The Group has established debt recovery procedures for overdue and defaulted loans, including legal actions if necessary[47] - The Group recognized an impairment allowance of HK$43.2 million in 2025, a decrease from HK$158.9 million in 2024, primarily related to margin clients and borrowers[41] Corporate Governance - The Company complied with the Corporate Governance Code except for a deviation regarding the separation of the roles of chairman and chief executive officer[138] - The Board comprises five Directors, including two Executive Directors and three Independent Non-Executive Directors (INEDs), with Mr. Chu Raymond appointed as an additional Executive Director on January 1, 2026[144] - The Directors' emoluments are determined based on a written remuneration policy that aligns with business strategy and shareholder interests, considering market pay levels and performance[132] - The Company has established mechanisms to ensure independent views and input are available to the Board, which were reviewed and deemed effective during the year[145] Employee and Leadership - The Group had 83 account executives and 104 employees as of September 30, 2025, with total staff costs of approximately HK$94.2 million for the year[49] - The leadership team is composed of experienced professionals with diverse backgrounds in finance and corporate governance[62] - The Company is focused on strategic planning and overseeing various projects to enhance its business operations[59] Shareholder Information - The Board has resolved not to recommend any final dividend for the Year 2024, which is Nil[51] - The Group's total reserves available for distribution to shareholders as of September 30, 2025, amounted to approximately HK$102.0 million, unchanged from 2024, while accumulated losses were HK$164.9 million, down from HK$250.5 million in 2024[78] - The Company has no major suppliers due to the nature of its principal activities[86] Future Outlook - The Group anticipates continued growth in the global financial markets segment, driven by increased trading activities and secondary fundraising[13] - The Group anticipates a significant increase in the Hong Kong IPO pipeline, driven by listings of Chinese technology companies and government stimulus measures[35] - The company provided an optimistic outlook for the next quarter, projecting a revenue growth of 25%[199] Compliance and Reporting - The independent auditor issued an unqualified conclusion regarding the non-exempt continuing connected transactions (CCTs) of the Group[126] - The Company complied with the relevant disclosure requirements under Chapter 14A of the Listing Rules for non-exempt CCTs[123] - The Group's annual consolidated financial statements for the financial year ended 30 September 2024 were reviewed for accuracy and fairness[174] Community Engagement - The Group made charitable donations totaling approximately HK$15,000 during the Year, compared to HK$19,500 in 2024[79]

Financial Performance - For the six months ended October 31, 2025, revenue was approximately HKD 15.8 million, a decrease of about 3.1% compared to HKD 16.3 million for the same period in 2024[8]. - The profit attributable to equity holders for the six months ended October 31, 2025, was approximately HKD 31.3 million, compared to a loss of HKD 2.0 million for the same period in 2024[8]. - Basic and diluted earnings per share for the six months ended October 31, 2025, were approximately HKD 0.1272, compared to a loss per share of HKD 0.0081 for the same period in 2024[8]. - Gross profit increased to approximately HKD 0.7 million for the six months ended October 31, 2025, representing a 75% increase from HKD 0.4 million for the same period in 2024[14]. - The gross profit margin improved from approximately 2.5% for the six months ended October 31, 2024, to approximately 4.4% for the same period in 2025[14]. - The company reported a profit before tax of HKD 31,348,000, a substantial recovery from a loss of HKD 1,997,000 in the prior year[48]. - The company reported a profit attributable to equity holders of HKD 31,348,000 for the six months ended October 31, 2025, compared to a loss of HKD 1,997,000 in the same period of 2024[73]. Expenses and Liabilities - Administrative expenses rose to approximately HKD 8.2 million for the six months ended October 31, 2025, an increase of about 54.7% from HKD 5.3 million for the same period in 2024[15]. - Current liabilities increased to HKD 24,846,000 from HKD 18,725,000, reflecting a rise in trade and other payables[50]. - Trade payables rose to HKD 6,990,000 as of October 31, 2025, from HKD 2,864,000 as of April 30, 2025, representing a significant increase of approximately 143.5%[81]. - The company had no capital commitments or contingent liabilities as of October 31, 2025[23][24]. - The company had no significant contingent liabilities, consistent with April 30, 2025[86]. Cash Flow and Assets - As of October 31, 2025, the company's cash and bank balance was approximately HKD 2.6 million, a decrease of about HKD 0.5 million from HKD 3.1 million on April 30, 2025[18]. - Cash and cash equivalents decreased to HKD 2,581,000 from HKD 3,074,000, indicating a cash outflow during the period[55]. - Total assets as of October 31, 2025, amounted to HKD 111,317,000, up from HKD 73,848,000 as of April 30, 2025, indicating strong asset growth[50]. - The company's reserves increased significantly to HKD 77,927,000 from HKD 46,579,000, indicating improved retained earnings[50]. - Trade receivables amounted to HKD 42,940,000 as of October 31, 2025, down from HKD 44,762,000 as of April 30, 2025, reflecting a decrease of approximately 4.1%[74]. - Contract assets increased to HKD 10,599,000 as of October 31, 2025, compared to HKD 9,785,000 as of April 30, 2025, showing an increase of approximately 8.3%[78]. Investments - The company had investments in various entities, with the fair value of investments in Fuyue Holdings Limited at HKD 14.22 million, representing 23.7% of total assets[28]. - The investment in China Integrated Holdings Limited had a fair value of HKD 22.07 million, accounting for 36.8% of total assets[28]. - The investment in China National Cultural Industry Group Limited was valued at HKD 6.425 million, making up 10.7% of total assets[29]. - The fair value change of financial assets measured at fair value through profit or loss was HKD 38,784,000 for the six months ended October 31, 2025, significantly higher than HKD 3,881,000 in 2024, indicating a substantial increase[68]. - The fair value of listed securities classified as held for trading investments increased to HKD 59,979,000 as of October 31, 2025, compared to HKD 21,176,000 as of April 30, 2025, indicating a growth of approximately 183.5%[80]. Corporate Governance and Compliance - The audit committee reviewed the unaudited interim financial statements for the six months ended October 31, 2025, and found them compliant with applicable accounting standards[46]. - The company confirmed compliance with the corporate governance code, with some deviations regarding the notice period for board meetings[36]. - The company has confirmed that all directors complied with the trading code for securities transactions during the reporting period[37]. - The company has not recognized any deferred tax liabilities due to no significant temporary differences during the reporting period[71]. Employee and Management Information - Employee costs, including directors' remuneration, increased to HKD 1,610,000 for the six months ended October 31, 2025, up from HKD 1,171,000 in 2024, representing a growth of approximately 37.5%[69]. - The company's management compensation for the six months ended October 31, 2025, was HKD 504,000, compared to HKD 352,000 for the same period in 2024, representing a 43.2% increase[85]. - The company employed 21 staff members as of October 31, 2025, down from 22 on April 30, 2025[27]. Future Outlook - The company plans to expand its business scope, including property development projects and potential property investments for capital appreciation and stable rental income[11]. - The operating environment for 2026 is expected to remain challenging, but government investment in infrastructure may improve market conditions for the construction industry[11]. - The company will continue to focus on site formation and renovation works in Hong Kong while enhancing its competitive advantages in the construction sector[11]. Share Capital and Dividends - The total issued share capital of the company was HKD 12,320,000, with 246,400,000 ordinary shares outstanding as of October 31, 2025[25]. - No interim dividend was recommended for the six months ended October 31, 2025, compared to none in 2024[38]. - The company had 45,440,000 unexercised share options, representing 18.5% of the issued shares[46]. - The company entered into a subscription agreement on November 9, 2025, to issue 160,000,000 subscription shares at HKD 0.2 per share[39]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended October 31, 2025[35].

CEO Compensation - Sunshine 100 China Holdings Ltd reported total compensation for CEO Lin Shaozhou of RMB 1,728,091 for the fiscal year 2016, which included a salary of RMB 1,703,011 and retirement benefits of RMB 25,080[3] - For the fiscal year 2017, CEO Lin's total compensation increased to RMB 2,040,676, comprising a salary of RMB 2,013,316 and retirement benefits of RMB 27,360, reflecting a year-over-year increase of approximately 18%[3] - From the start of 2018 until May 11, CEO Lin received a total compensation of RMB 437,269, which included a salary of RMB 423,589 and retirement benefits of RMB 13,680[3] Annual Report Information - The announcement does not alter any other information contained in the annual reports for the fiscal years ending December 31, 2016, 2017, and 2018[4]

Compensation Details - The total compensation for the former CEO, Mr. Chen Binbo, for the year ended December 31, 2019, was RMB 3,189,000, which included RMB 2,614,000 in salary and other benefits, RMB 540,000 in discretionary or performance-related bonuses, and RMB 35,000 in retirement benefits[4] - The company did not pay any compensation to Mr. Chen as an incentive for joining or as severance upon leaving the company during the year ended December 31, 2019[4] Annual Report Information - The announcement does not affect any other information disclosed in the 2019 annual report, which remains unchanged[5]

Financial Performance - The Group reported a turnover of HK$161.00 million for the Period, representing an increase of 4.27% compared to HK$154.41 million for the same period last year[5]. - The consolidated profit for the Period amounted to HK$77.90 million, a significant increase from HK$11.26 million for the corresponding period in 2024[5]. - Earnings per share for the Period was HK24.62 cents, compared to HK3.90 cents in 2024[5]. - Profit before tax for the period was HK$78,830,000, significantly higher than HK$11,760,000 in the previous year, representing a growth of 572.5%[85]. - Profit attributable to owners of the Company reached HK$77,895,000, compared to HK$11,260,000 in the prior year, marking a year-over-year increase of 691.5%[85]. - Total comprehensive income attributable to owners for the period was HK$78,549,000, compared to HK$11,580,000 in the previous year, reflecting a growth of 577.5%[85]. Expenses and Costs - Staff costs increased to HK$51.63 million, representing 32.07% of the Group's turnover, down from 33.06% in 2024[7]. - Other operating expenses decreased by 8.97% to HK$37.87 million, representing 23.52% of the Group's turnover, down from 26.94% in 2024[8]. - Staff costs for the period were HK$51,632,000, slightly up from HK$51,051,000 in the previous year, indicating a marginal increase of 1.1%[85]. Assets and Liabilities - As of 31 October 2025, the Group's cash and bank balances amounted to HK$70.92 million, down from HK$78.04 million as of 30 April 2025[17]. - Total outstanding debts were HK$53.43 million as of 31 October 2025, a decrease from HK$58.76 million as of 30 April 2025[17]. - The gearing ratio improved to 13.01% as of 31 October 2025, down from 18.19% as of 30 April 2025[18]. - Current assets increased to HK$438,545,000 as of October 31, 2025, up from HK$345,744,000 as of April 30, 2025, indicating a growth of 26.8%[87]. - Net assets rose to HK$410,654,000 as of October 31, 2025, compared to HK$323,095,000 as of April 30, 2025, representing an increase of 27.1%[87]. - The consolidated total assets of the group reached HK$555,674,000 as of October 31, 2025, compared to HK$465,066,000 as of April 30, 2025[123]. Investments - Net fair value gains on financial assets at fair value through profit or loss amounted to approximately HK$60.31 million, compared to HK$9.54 million in 2024[15]. - The Group's total investment in listed equity securities amounted to HK$123.576 million, representing 22.24% of total assets as of October 31, 2025, compared to 13.05% (HK$60.647 million) as of April 30, 2025[34]. - The Group's financial instruments at fair value through profit or loss (FVTPL) increased to HK$123,576,000 as of 31 October 2025, up from HK$60,647,000 as of 30 April 2025[106]. Operational Strategy - The Group aims to enhance production efficiency and capacity to improve operational performance and competitiveness[41]. - The Group plans to strengthen its engineering and production departments to maintain competitive advantages in lead times and production flexibility[40]. - The Group will continue to explore business opportunities to expand its principal manufacturing business and improve returns to shareholders[42]. - Plans are in place to improve operational performance by enhancing production efficiency and capacity through resource allocation for upgrading existing machinery[43]. Share Capital and Options - As of October 31, 2025, the total number of outstanding share options is 1,666,666, representing approximately 0.48% of the issued share capital of the company[58]. - A new share option scheme (2025 Share Option Scheme) was adopted on October 3, 2025, with a term of 10 years, expiring on October 2, 2035[52]. - The total number of shares available for issuance under the 2025 Share Option Scheme was 34,649,053, representing 10% of the issued share capital of the Company[64]. - The maximum number of shares that may be issued upon exercise of all outstanding share options must not exceed 30% of the issued share capital of the Company at any time[64]. Corporate Governance - The Company is committed to maintaining best practice standards of corporate governance, emphasizing quality Board and effective internal controls[78]. - The Company has adopted its own Code on Corporate Governance Practices, incorporating principles from the Corporate Governance Code[79]. - The board has confirmed compliance with the Model Code for Securities Transactions by Directors throughout the reporting period[46]. Market Performance - Revenue for the six months ended October 31, 2025, increased to HK$161,008,000, up 4.1% from HK$154,412,000 in the same period of 2024[85]. - The total revenue for reportable segments was HK$163,525,000 for the six months ended 31 October 2025, compared to HK$158,573,000 in 2024, indicating a year-on-year increase of approximately 3.7%[114]. - The Group operates in eight reportable segments based on geographical location, with major customers located in the USA, Hong Kong, Europe, and the PRC[110]. Cash Flow - The net cash used in operating activities was HK$8,590,000, slightly higher than HK$8,202,000 in the previous year[91]. - The net cash used in investing activities decreased to HK$1,509,000 from HK$4,147,000 in the prior year, indicating improved cash management in investments[91]. - The company generated HK$2,970,000 from financing activities, a turnaround from a cash outflow of HK$1,207,000 in the previous year[91]. Employee and Management - The Group's total number of employees increased to approximately 669 as of October 31, 2025, compared to 668 as of April 30, 2025[31]. - The total remuneration for key management personnel for the six months ended 31 October 2025 was HK$5,799,000, a decrease from HK$6,865,000 for the same period in 2024[173].

Financial Performance - For the first quarter ending November 30, 2025, the total revenue was ¥1,027,745 million, representing a year-on-year increase of 14.8%[5] - Operating profit for the same period was ¥210,914 million, reflecting a 33.9% increase compared to the previous year[5] - The pre-tax profit reached ¥226,667 million, which is a 15.3% increase year-on-year[5] - The net profit attributable to the parent company was ¥147,445 million, up 11.7% from the same period last year[5] - The gross profit margin improved to 55.2%, an increase of 0.7 percentage points year-on-year[12] - UNIQLO Japan's Q1 revenue reached ¥299 billion, a 12.2% year-over-year increase, with operating profit at ¥62.4 billion, up 20.2%[14] - UNIQLO Overseas reported Q1 revenue of ¥603.8 billion, a 20.3% year-over-year increase, and operating profit of ¥117.3 billion, up 38.0%[15] - Same-store sales in Japan increased by 11.0% due to strong sales of autumn and winter products, despite a 0.5 percentage point decline in gross margin[14] - GU's Q1 revenue was ¥91.3 billion, a slight increase of 0.8%, while operating profit rose significantly by 20.0% due to improved gross margin[18] - Global Brands segment revenue decreased by 7.6% to ¥33 billion, with operating profit down 14.8% to ¥1.7 billion, impacted by challenges in the U.S. market[19] Forecast and Future Plans - The company forecasts total revenue for the fiscal year ending August 31, 2026, to be ¥3,800,000 million, an increase of 11.7%[8] - The projected operating profit for the same fiscal year is ¥650,000 million, which represents a 17.9% increase[8] - The company aims to diversify its global revenue sources and expand its brand portfolio, particularly focusing on GU and other group brands[13] - The company plans to enhance product development and brand building in its overseas UNIQLO business segment to support sustainable growth[13] Sustainability and Corporate Responsibility - The company raised its supply chain greenhouse gas emissions reduction target from 20% to 30% by the end of the fiscal year 2030[21] - The company received an "A List" rating from CDP for climate action and water security, marking its fourth consecutive year of recognition in climate change[22] - UNIQLO plans to donate over 1 million HEATTECH products globally as part of its "The Heart of LifeWear" initiative, with significant contributions to UNHCR and local communities[23] Assets and Liabilities - The total assets as of November 30, 2025, amounted to ¥4,286,412 million, with total equity of ¥2,568,873 million[6] - Total liabilities as of November 30, 2025, reached ¥17,175 billion, up by ¥1,856 billion from the previous fiscal year-end[25] - Total equity as of November 30, 2025, was ¥25,688 billion, an increase of ¥2,413 billion from the previous fiscal year-end[25] - Cash and cash equivalents as of November 30, 2025, were ¥9,236 billion, an increase of ¥304 billion from the previous fiscal year-end[26] Cash Flow - Net cash generated from operating activities for the three months ended November 30, 2025, was ¥1,917 billion, compared to ¥876 billion for the same period last year[27] - Net cash used in investing activities for the three months ended November 30, 2025, was ¥844 billion, compared to ¥35 billion for the same period last year[28] - Net cash used in financing activities for the three months ended November 30, 2025, was ¥1,177 billion, compared to ¥1,062 billion for the same period last year[29] Employee Engagement - Employee engagement score improved by 3.3 percentage points compared to the previous year, with a positive response rate of 78.0% from 40,583 surveyed employees[24] Compliance and Reporting - Deloitte Touche Tohmatsu LLC issued a review report for the interim consolidated financial statements for the period ending November 30, 2025[72] - The report assesses compliance with Tokyo Stock Exchange quarterly financial reporting standards, specifically Article 5-2 and Article 5-5[73] - Trading of the company's Hong Kong depositary receipts was temporarily suspended on January 8, 2026, pending the announcement[74] - The company plans to apply for the resumption of trading of Hong Kong depositary receipts on January 9, 2026, at 9:00 AM[74]