Financial Performance - Annual revenue was approximately RMB 2,495.9 million, representing a year-on-year increase of about 4.5%[5] - Annual net profit was approximately RMB 20.8 million, with a year-on-year increase of about 80.6%; profit attributable to the parent company was RMB 17.1 million, up approximately 263.8%[5] - Core net profit (excluding non-recurring expenses) was approximately RMB 202.2 million, reflecting a year-on-year increase of about 8.1%[5] - Total revenue for the year 2025 reached RMB 2,495,853,000, an increase of 4.5% from RMB 2,388,828,000 in 2024[24] - The company reported a total of RMB 2,430,565,000 in revenue from services transferred over time, an increase from RMB 2,325,117,000 in 2024[24] - The gross profit increased from RMB 487.8 million in 2024 to RMB 496.0 million in 2025, with a gross margin decrease from 20.4% to 19.9%[73] - The cost of services provided for the year 2025 was RMB 1,973,548 thousand, compared to RMB 1,867,071 thousand in 2024, marking an increase of about 5.7%[31] - The group reported a total other income and gains of RMB 61,648 thousand in 2025, significantly higher than RMB 26,852 thousand in 2024, reflecting an increase of approximately 129.0%[30] Property Management - Total contracted gross floor area for property management services reached approximately 130.3 million square meters, with total managed area of approximately 124.0 million square meters[5] - Property management services generated RMB 1,619,672,000 in revenue, up from RMB 1,506,970,000 in 2024, reflecting a growth of 7.5%[24] - Residential property management revenue reached RMB 1,350.1 million, accounting for approximately 83.4% of total property management service revenue, marking a significant growth driver[60] - Non-residential property management revenue decreased from RMB 411.3 million in 2024 to RMB 269.5 million in 2025 due to strategic exits from underperforming projects[60] - The company achieved a contract management scale of 130.3 million square meters by December 31, 2025, with residential property management covering 98.1 million square meters and industrial logistics real estate covering 32.2 million square meters[58] Expenses and Liabilities - Administrative expenses decreased to RMB 211.1 million from RMB 231.6 million, indicating improved cost management[6] - The group incurred a total employee benefit expense of RMB 478,510 thousand in 2025, slightly down from RMB 494,724 thousand in 2024, representing a decrease of approximately 3.3%[31] - The immediate income tax expense for 2025 was RMB 50,158 thousand, an increase from RMB 42,402 thousand in 2024, reflecting a growth of approximately 18.5%[35] - The total impairment loss for trade receivables at year-end 2025 was RMB 739,867,000, compared to RMB 560,100,000 in 2024[49] - The total accounts payable increased to RMB 663,102,000 in 2025 from RMB 580,466,000 in 2024, including amounts payable to related parties[52] Dividends and Shareholder Information - The board proposed a final dividend of RMB 0.048 per ordinary share for the year ended December 31, 2025[5] - The proposed final dividend for the year ending December 31, 2025, is RMB 0.048 per share, totaling RMB 47,312,000, an increase from RMB 35,484,000 in 2024[101] - The record date for qualifying shareholders to receive the proposed final dividend is June 10, 2026[103] - The company will suspend share transfer registration from May 21 to May 28, 2026, to determine eligibility for attending the annual general meeting[102] Strategic Focus and Market Position - The company aims to deepen strategic focus in core markets and enhance service quality standards, transitioning from basic compliance to excellence in service delivery[56] - The company plans to integrate ecological services with property services, transforming from single services to a multi-value platform[57] - The company is committed to advancing technology integration with services, aiming to make data-driven decision-making a cornerstone of operations[57] - The company emphasizes the importance of customer experience and quality control, evolving its core competitive advantage through continuous improvement[56] - The company ranked 11th among the top 100 property service companies in China according to the Beijing Zhongzhi Information Technology Research Institute in 2025[58] Financial Position and Assets - Total assets less current liabilities amounted to RMB 1,466.5 million, slightly down from RMB 1,468.6 million[9] - Non-current liabilities increased to RMB 46.3 million from RMB 25.1 million, reflecting changes in lease liabilities[9] - The company’s cash and cash equivalents stood at RMB 1,102.3 million, compared to RMB 1,071.8 million in the previous year[8] - The group has maintained a net debt ratio of net cash as of December 31, 2025, with no outstanding interest-bearing borrowings[88] - The group has no financial guarantees, asset pledges, or contingent liabilities as of December 31, 2025, reflecting a strong financial position[89][90][91] Employee and Operational Growth - The group employed 5,116 employees as of December 31, 2025, an increase from 4,673 employees in the previous year, indicating growth in operations[99] - The group is closely monitoring fluctuations in the RMB exchange rate but has not engaged in hedging activities as of December 31, 2025[93] Governance and Compliance - The company has adopted the Corporate Governance Code as per the Listing Rules and has complied with all relevant provisions during the year ending December 31, 2025[104] - The audit committee has reviewed the annual performance for the year ending December 31, 2025, and the financial statements prepared in accordance with international financial reporting standards[107] - The preliminary financial results for the year ending December 31, 2025, have been verified by the independent auditor, confirming consistency with the draft financial statements[108] - The annual performance announcement for 2025 has been published on the Stock Exchange and the company's website[109] - The company's website has changed from "www.shidaiwuye.com" to "www.timesneighborhood.cn" effective immediately[110]

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 表 明 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。 HANVEY GROUP HOLDINGS LIMITED 恆偉集團控股有限公司 （股份代號：8219） （於開曼群島註冊成立的有限公司） 截 至2025年12月31日止年度之 年度業績公告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM（「GEM」）的 特 色 GEM乃為投資風險可能較聯交所其他中小型上市公司為高的公司而設的上市 市 場。有 意 投 資 者 應 了 解 投 資 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 考 慮 後 方 可 作 出 投 資 決 定。 由 於GEM上 市 公 司 一 般 為 中 小 型 公 司，在GEM買賣的證券可能會較於聯交所主 機 板 買 賣 的 證 券 承 受 較 高 的 市 場 波 動 風 險，且 無 法 保 ...

Financial Performance - The total revenue for the year ending December 31, 2025, was approximately HKD 319,000, while the previous year was HKD 254,000, representing a growth of 25.6%[3] - The total proceeds from the sale of trading securities for the year ending December 31, 2025, amounted to approximately HKD 354,846,000, compared to HKD 49,114,000 in the previous year, indicating a significant increase of 620.5%[3] - The profit attributable to the owners of the company for the year ending December 31, 2025, was approximately HKD 9,789,000, a turnaround from a loss of HKD 76,810,000 in the previous year[3] - Basic earnings per share for the year ending December 31, 2025, were HKD 0.09, compared to a loss per share of HKD 1.08 in the previous year[3] - The total comprehensive income attributable to the owners of the company for the year ending December 31, 2025, was HKD 38,292,000, compared to a loss of HKD 70,186,000 in the previous year[4] - The pre-tax profit for the year ended December 31, 2025, was HKD 9,789,000, a recovery from a loss of HKD (76,810,000) in 2024[22] - The basic and diluted earnings per share for 2025 were HKD 0.091, compared to a loss per share of HKD (1.082) in 2024[22] - The group recorded revenue of approximately HKD 319,000, an increase of about 25.6% compared to HKD 254,000 in the previous year, primarily due to increased dividend income[35] - The group recorded a profit attributable to the owners of the company of approximately HKD 9,789,000, compared to a loss of approximately HKD 76,810,000 in the previous year[35] Assets and Equity - The net asset value per share as of December 31, 2025, was HKD 1.39, down from HKD 1.53 in the previous year[5] - The company’s total equity as of December 31, 2025, was HKD 178,251,000, an increase from HKD 130,064,000 in the previous year[5] - The group's net asset value as of December 31, 2025, was approximately HKD 178,251,000, representing a 37.05% increase from HKD 130,064,000 in the previous year[36] - The group’s non-listed investments amounted to approximately HKD 86,422,000 as of December 31, 2025, compared to HKD 48,441,000 in the previous year[36] - The fair value of unlisted equity investments was approximately HKD 57,368,000 as of December 31, 2025, which accounted for 31.23% of the total assets, an increase from 19.58% in 2024[31] Dividends - The company did not recommend the payment of a final dividend for the year ending December 31, 2025, consistent with the previous year[3] - The group does not recommend any dividends for the years ended December 31, 2025, and 2024[24] - No dividends are recommended for the years ending December 31, 2025, and December 31, 2024[72] Investments - The investment in BYD Company Limited had a market value of HKD 5,254,000 as of December 31, 2025, with a cost of HKD 5,990,000, resulting in an unrealized loss of HKD 736,000[26] - The investment in Xiaomi Group had a market value of HKD 2,743,000 as of December 31, 2025, with a cost of HKD 3,098,000, resulting in an unrealized loss of HKD 355,000[26] - The investment in Tencent Holdings Limited had a market value of HKD 899,000 as of December 31, 2025, with a cost of HKD 773,000, resulting in an unrealized gain of HKD 126,000[26] - The investment in Tesla, Inc. had a market value of HKD 18,542,000 as of December 31, 2025, with a cost of HKD 18,493,000, resulting in an unrealized gain of HKD 49,000[26] - The investment in Readen Holding Corporation had a market value of HKD 6,692,000 as of December 31, 2025, with a cost of HKD 12,046,000, resulting in an unrealized loss of HKD 5,354,000[26] Financial Position - The company’s cash and bank balances increased to HKD 516,000 from HKD 191,000 in the previous year, reflecting improved liquidity[5] - The group’s borrowings significantly decreased to approximately HKD 2,081,000 as of December 31, 2025, down from HKD 13,939,000 in 2024, resulting in a leverage ratio of 1.17% compared to 10.72% in the previous year[37] - As of December 31, 2025, the group had available funds of approximately HKD 4,452,000, primarily held in banks and licensed securities companies for general operating purposes[37] Corporate Governance - The company maintains a high level of corporate governance, adhering to all provisions of the Corporate Governance Code[63] - The board continues to monitor and review the company's corporate governance practices to ensure compliance with the code[65] - The audit committee consists of three independent non-executive directors, ensuring the protection of shareholders' interests through regular meetings with external auditors[78] - The audit committee has reviewed the accounting principles and practices adopted by the group, including discussions on internal controls and financial reporting[79] Risk Management - The company has identified several significant risks, including equity risk and liquidity risk, and has implemented strategies to manage these risks[68][69] Events and Future Outlook - The group expects that the new International Financial Reporting Standard 18 will not have a significant impact on its consolidated financial performance and position, but will affect the structure and presentation of the consolidated income statement and other comprehensive income[13] - There are no significant events after the reporting period that require disclosure[73] - The company has no major investment or capital asset acquisition plans beyond what has been disclosed as of December 31, 2025[61] - No significant acquisitions or disposals of subsidiaries, associates, or joint ventures occurred during the year ending December 31, 2025[60]

Capacity and Generation - The total installed capacity of the group reached approximately 14,185 MW as of December 31, 2025, an increase from approximately 12,639 MW in 2024, representing a growth of about 12.2%[4] - The total electricity generation increased significantly from approximately 17,674,684 MWh in 2024 to approximately 22,831,615 MWh in 2025, marking a growth of approximately 29.2%[7] - The group operates 189 solar power stations, 38 wind power stations, 26 hydroelectric power stations, and 3 energy storage stations as of December 31, 2025, compared to 166 solar, 38 wind, 26 hydro, and 3 energy storage stations in 2024[4] - The group’s joint ventures include 4 solar power stations, 5 wind power stations, and 2 hydroelectric power stations, with a total installed capacity of approximately 1,101 MW as of December 31, 2025[4] - The installed capacity of grid-connected power plants expanded from approximately 12,639 MW to about 14,185 MW, representing a growth of approximately 12.2%[15] Financial Performance - The company recorded a net profit of approximately RMB 32 million for the year, a significant decrease from RMB 557 million in the previous year, primarily due to increased power loss from electricity restrictions and a decline in average on-grid electricity prices[14] - The company's revenue and EBITDA for the year were approximately RMB 7,737 million and RMB 6,162 million, respectively, compared to RMB 7,011 million and RMB 5,622 million in 2024, indicating a revenue increase of about 10.3%[15] - The net profit for the year was RMB 32 million, a significant decrease of 94.2% compared to RMB 557 million in 2024[46] - The company reported a loss attributable to shareholders of RMB 159 million for the year 2025, compared to a profit of RMB 86 million in 2024[74] - The company’s total assets as of December 31, 2025, amounted to RMB 104,181 million, an increase from RMB 102,469 million in 2024[47] Financing and Debt Management - The weighted average interest rate for bank and other borrowings decreased to approximately 2.93% from 3.73% in the previous year, attributed to refinancing high-interest loans with low-interest RMB loans[10] - The company has diversified its financing channels, including a RMB 1.5 billion investment contract with China Life Insurance, which provides a fixed interest rate of 3.285%[11] - The company successfully issued eight batches of perpetual medium-term notes totaling RMB 6.5 billion, with fixed interest rates ranging from 2.24% to 2.49%[10] - Total financing costs decreased by approximately 6.7% from RMB 2,379 million in 2024 to RMB 2,219 million, attributed to refinancing high-interest loans with low-interest loans[16] - The debt-to-EBITDA ratio improved to approximately 9.5 from 11.2 in 2024, indicating better debt management[25] Operational Strategy and Development - The group has strategically developed clean energy power stations to achieve predetermined minimum return rates, considering various local factors such as sunlight, wind speed, and electricity demand[5] - The group plans to continue focusing on the development of solar, wind, hydroelectric, and energy storage businesses in the short term while enhancing the diversity of its clean energy portfolio[6] - The company aims to enhance the green electricity supply ratio in the capital and contribute to its green low-carbon transformation[41] - The company plans to leverage AI technology across its entire business chain, focusing on energy storage, green hydrogen production, and intelligent operation and maintenance[41] - Future outlook indicates a strategic opportunity in the new energy sector due to the ongoing green transformation and the construction of a new power system[40] Customer and Revenue Sources - The solar power segment generated revenue of RMB 4,198 million, contributing 54.2% to total revenue, while the wind power segment contributed RMB 2,627 million, accounting for 34.0%[66] - The group generated approximately 66.6% and 12.4% of its electricity sales revenue from State Grid Corporation of China and China Southern Power Grid, respectively[34] - The company identified two major customers contributing over 10% of total revenue, with Customer A contributing RMB 5,156 million and Customer B contributing RMB 958 million in 2025[70] Asset Management and Liabilities - The company recorded current assets of approximately RMB 17,000 million and current liabilities of approximately RMB 23,237 million as of December 31, 2025[27] - As of December 31, 2025, net debt was RMB 58,500 million, down from RMB 62,978 million in 2024[29] - The total bank and other borrowings amounted to approximately RMB 64,809 million, with RMB 15,981 million due within the next 12 months[53] - The total accounts receivable and electricity price subsidy receivables decreased to RMB 7,270 million in 2025 from RMB 8,052 million in 2024[80] - The aging analysis of accounts receivable shows that RMB 7,152 million is from unbilled receivables, down from RMB 8,002 million in 2024[81] Corporate Governance and Compliance - The company is committed to risk management and compliance to ensure stable operations and long-term sustainable development[41] - The company has committed to maintaining high levels of corporate governance to ensure sustainable development and protect shareholder interests[92] - The company’s audit committee consists of three members, including two independent non-executive directors, ensuring oversight of financial reporting and auditor independence[93] Dividend and Shareholder Information - The company declared a final dividend of HKD 0.10 per share for the year ending December 31, 2024, amounting to approximately RMB 193 million, compared to RMB 196 million for the previous year[77] - The board proposed a final dividend of HKD 0.08 per ordinary share, equivalent to approximately RMB 0.0723, compared to HKD 0.10 per share in 2024, equivalent to RMB 0.0920[96] - The final dividend is expected to be paid on July 17, 2026, subject to approval at the annual general meeting on June 18, 2026[96]

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。 C-LINK SQUARED LIMITED 本公告所載若干金額及百分比數字已作約整調整，或約整至一或兩個小數位。任何 表格、圖表或其他部分中列示之總額與金額總和之間的差異均因約整所致。 （於開曼群島註冊成立的有限公司） （股份代號：1463） �合全面收益表 截至2025年12月31日止年度 全年�績�告 財務摘要 1 • 截至2025年12月31日止年度的收益約為126.6百萬令吉特，較上一年度的約 97.0百萬令吉特增加約30.5%。 • 截至2025年12月31日止年度的毛利約為25.3百萬令吉特，較上一年度的約24.3 百萬令吉特增加約3.9%。 • 截至2025年12月31日止年度的本公司股權持有人應佔虧損約為182.1百萬令吉 特，虧損較上一年度的本公司股權持有人應佔虧損約21.4百萬令吉特增加約 160.7百萬令吉特。 • 截至2025年12月31日止年度的本公司股權持有人應佔每股基本虧 ...

Financial Performance - Total revenue decreased by approximately 13.7% to approximately RMB 464.2 million (2024: RMB 538.1 million) [2] - Gross profit increased by approximately 5.4% to approximately RMB 103.8 million (2024: RMB 98.5 million) [2] - Gross margin increased by approximately 4.1 percentage points to approximately 22.4% (2024: 18.3%) [2] - Profit attributable to owners of the company for the year was approximately RMB 30.4 million (2024: RMB 39.9 million) [2] - Total revenue for the year ended December 31, 2025, was RMB 464,168,000, a decrease of 13.0% from RMB 538,097,000 in 2024 [14] - Revenue from fiber optic cables was RMB 427,833,000 for 2025, down 12.0% from RMB 486,620,000 in 2024 [14] - The profit before income tax for the year ended December 31, 2025, was RMB 30,390 thousand, down from RMB 39,936 thousand in 2024, reflecting a decline of approximately 24.4% [23] Dividends and Shareholder Returns - The board does not recommend the payment of a final dividend for the year ending December 31, 2025 (2024: none) [2] - The company did not declare a final dividend for the year ended December 31, 2025, consistent with the previous year [31] Assets and Liabilities - Trade receivables decreased to RMB 347.7 million from RMB 436.2 million [5] - Current liabilities decreased to RMB 395.0 million from RMB 508.0 million [6] - Total assets decreased to RMB 933.5 million from RMB 1,001.3 million [6] - Cash and cash equivalents increased to RMB 261.5 million from RMB 201.1 million [5] - The company's bank borrowings as of December 31, 2025, totaled RMB 179,205 thousand, a significant decrease of 50% from RMB 360,342 thousand in 2024 [30] - The group's asset-liability ratio as of December 31, 2025, was approximately 56.6%, significantly improved from 84.5% in 2024 [50] Income and Expenses - Financing costs for the year ended December 31, 2025, amounted to RMB 8,109,000, a decrease from RMB 10,068,000 in 2024 [21] - Other income, net of expenses, for the year ended December 31, 2025, was RMB 8,142,000, down from RMB 19,481,000 in 2024 [20] - The company confirmed government grants totaling RMB 3,902,000 for 2025, compared to RMB 7,875,000 in 2024 [20] - The company's income tax expense for the year ended December 31, 2025, was RMB (3,890) thousand, a decrease from RMB (4,020) thousand in 2024 [22] - The group's sales cost decreased by approximately 18.0% to about RMB 360.3 million, down from RMB 439.6 million in the previous year [35] - Selling and distribution expenses decreased by approximately 5.0% to about RMB 17.4 million, compared to RMB 18.3 million in the previous year [38] - Management expenses increased by approximately 25.3% to about RMB 43.5 million, mainly due to additional depreciation from completed construction sites [39] - Research costs decreased by approximately 11.7% to about RMB 29.3 million, attributed to adjustments in product development projects [40] Trade Receivables and Credit Management - Trade receivables as of December 31, 2025, amounted to RMB 348,757 thousand, a decrease of 21% from RMB 441,339 thousand in 2024 [25] - The net trade receivables after deducting credit loss provisions were RMB 336,948 thousand, down from RMB 431,916 thousand in 2024 [26] - Trade receivables accounted for approximately 81.6% of the group's credit risk as of December 31, 2025, compared to 85.8% in 2024, primarily from major Chinese telecom operators [54] - The company has established a credit period of up to one year for customers with good repayment records, enhancing cash flow management [15] Corporate Governance and Compliance - The company plans to enhance its governance practices to ensure compliance with corporate governance codes [75] - The company has appointed new independent non-executive directors to comply with listing rules regarding board composition [77] - The company will continue to review and strengthen its corporate governance practices to ensure adherence to governance codes [75] - The audit committee, chaired by Mr. Chen Jirong, has reviewed the consolidated financial statements for the year ending December 31, 2025, and confirmed adherence to relevant accounting standards [81] - The remuneration committee, chaired by Mr. Liu Zhengyi, will meet at least once a year to review the company's remuneration policies and determine compensation for executive directors and senior management [82] Future Outlook and Market Trends - The global fiber optic cable market is expected to see a fundamental turnaround in supply and demand dynamics starting in the second half of 2025, driven by AI computing infrastructure [67] - According to CRU, global fiber optic cable demand is projected to reach 577 million core kilometers in 2026, a year-on-year increase of 5% [68] - The supply side is expected to face rigid constraints, with effective supply growth projected to be less than 3% in 2026, leading to a supply-demand gap of 180 million core kilometers [68] - The Chinese fiber optic cable industry is anticipated to shift from scale recovery to value enhancement in 2026, with a continuous optimization of demand structure [69] - The government prioritizes the construction of new information infrastructure, significantly increasing demand for high-speed, low-loss fiber optics and special cables [70] - The "East Data West Computing" project is entering a large-scale construction phase, which is expected to continuously drive demand for long-distance, high-capacity, low-loss trunk cables in 2026 [70] Investment and Development Plans - The company plans to renovate and rebuild its former factory site in Changzhou, Jiangsu Province, with a construction cost of RMB 38.25 million [65] - The company is focusing on optimizing production layout and product structure to steadily improve operational efficiency [71] - There will be an increase in R&D investment, with a special fund established to develop high-end optical cable products for computing centers, high-speed interconnects, and long-distance transmission [71] - The company aims to enhance the proportion of high value-added products and accelerate the R&D and mass production of green optical cables, special optical cables, and data center pre-terminated cables [71] - The company is expanding its customer base by deepening long-term partnerships with domestic core customers and actively targeting growth opportunities in non-telecom markets and data centers [71] - The company is committed to optimizing capacity and improving efficiency while stabilizing upstream raw material supply channels to strengthen supply chain management and cost control [71] Shareholder Meetings and Announcements - The annual general meeting is scheduled for June 24, 2026, with a notice to be published as per listing rules [84] - Share transfer registration will be suspended from June 18, 2026, to June 24, 2026, to determine eligible shareholders for voting at the annual general meeting [85] - The annual performance announcement is available on the Hong Kong Stock Exchange website and the company's website, with the annual report expected to be published by April 29, 2026 [88]

Financial Performance - The company's revenue for the year ended December 31, 2025, was RMB 102,028,000, a decrease of 20.6% compared to RMB 128,552,000 for the previous year[4] - Gross profit for the year was RMB 10,467,000, down 50.2% from RMB 21,041,000 in the prior year[4] - The operating loss for the year was RMB 19,357,000, compared to an operating loss of RMB 7,910,000 in the previous year, indicating a significant decline in operational performance[4] - The net loss attributable to the owners of the company was RMB 20,774,000, contrasting with a profit of RMB 27,379,000 in the previous year[5] - The group reported a pre-tax loss of RMB 7,164 thousand in 2025, compared to a profit of RMB 9,322 thousand in 2024[22] - The company reported a loss attributable to shareholders of RMB 20,774,000 for the year ended December 31, 2025, compared to a profit of RMB 27,379,000 in 2024[26] - The basic and diluted loss per share was 10.08 cents, compared to earnings of 14.30 cents per share in the previous year[5] - The company reported a significant impairment loss of RMB 24,450,000 on property, plant, and equipment, which contributed to the overall financial decline[4] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 271,762,000, a slight increase from RMB 268,246,000 in the previous year[6] - Current assets increased to RMB 216,620,000 from RMB 183,874,000, reflecting improved liquidity[6] - Total liabilities decreased to RMB 84,990,000 from RMB 89,155,000, indicating a reduction in financial obligations[7] - The company's cash and bank balances were RMB 45,455,000, down from RMB 49,419,000, suggesting a tightening cash position[6] - Trade receivables increased to RMB 84,128,000 in 2025 from RMB 71,205,000 in 2024, with an expected credit loss provision of RMB 10,341,000[30] - The company's trade payables decreased to RMB 26,604,000 in 2025 from RMB 39,812,000 in 2024[31] Revenue Breakdown - The group's revenue from non-woven products for automotive interior parts was RMB 102,028 thousand in 2025, down 20.6% from RMB 128,552 thousand in 2024[20] - Sales of automotive carpets accounted for RMB 63,052 thousand in 2025, a decrease of 26.9% compared to RMB 86,262 thousand in 2024[20] - The company's revenue for the year ended December 31, 2025, decreased to approximately RMB 102.0 million, a decline of about 20.6% from RMB 128.6 million in 2024, primarily due to increased tariffs imposed by the US starting in Q1 2025[38] Employee and Operational Costs - The total employee costs, including director remuneration, were RMB 9,168 thousand in 2025, a decrease from RMB 9,708 thousand in 2024[22] - The liquidity ratio as of December 31, 2025, was 2.7, up from 2.20 in 2024, indicating improved short-term financial health[47] Investments and Financial Assets - The fair value gain on financial assets was RMB 8,227 thousand in 2025, a significant recovery from a loss of RMB 1,275 thousand in 2024[21] - The group holds approximately 22.8 million shares (about 2.6%) in Beisen Education Technology Limited, with a fair value loss of RMB 7.768 million for the year[50] - The group's significant investments include a fair value of RMB 10.194 million in Beisen, representing approximately 3.75% of total assets[51] - The group reported a fair value loss of RMB 3.8 million for China Investment Group, with a fair value of RMB 5.406 million as of December 31, 2025, accounting for 1.99% of total assets[51] Corporate Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring adherence to the listing rules[62] - The group has adopted a code of conduct for directors regarding securities trading, ensuring compliance with the standards set forth in the listing rules[58] Future Outlook and Strategic Initiatives - The company plans to upgrade production lines and install new machinery to meet evolving customer demands for high-end products[45] - The company aims to diversify its business by seeking potential investment opportunities and managing its lending operations prudently[44] - The company expects 2026 to be a challenging year for the manufacturing and sales of non-woven products due to rising production costs driven by increasing oil prices[43] Shareholder Information - The company completed a rights issue on December 30, 2025, issuing 262,672,656 new shares at a subscription price of HKD 0.13 per share, raising approximately HKD 34.1 million[32] - The company did not recommend any dividend for the year ended December 31, 2025, consistent with 2024[29] Company Information - The company is known as China Automotive Interior Group Limited[66] - The chairman of the board is Zhuang Yuedong[66] - The document is a formal announcement to the board[66] - The company operates in the automotive interior sector[66] - The announcement date is March 30, 2026[66]

Financial Performance - Revenue for the fiscal year ending December 31, 2025, decreased to approximately HKD 79.3 million from about HKD 99.3 million for the fiscal year ending December 31, 2024, representing a decline of approximately 20.2%[4] - Gross profit margin fell from approximately 8.7% in the fiscal year 2024 to about 4.1% in the fiscal year 2025, with gross profit decreasing from approximately HKD 8.6 million to about HKD 3.3 million[4] - Loss attributable to owners of the company for the fiscal year 2025 was approximately HKD 52.5 million, compared to approximately HKD 47.9 million in the fiscal year 2024, indicating an increase in losses of about 13.5%[4] - Basic and diluted loss per share for the fiscal year 2025 was approximately HKD 0.1457, compared to approximately HKD 0.1331 for the fiscal year 2024[5] - The company reported a loss before tax of HKD 58,456,000 for the year ended December 31, 2025, compared to a loss of HKD 48,289,000 in 2024, indicating a worsening financial performance[18] - The net loss attributable to the company's owners for the year ended December 31, 2025, was HKD 52,485,000, compared to a loss of HKD 47,938,000 in 2024, indicating an increase in losses of approximately 11.4%[26] - The company recorded a loss of approximately HKD 52.5 million for the fiscal year 2025, compared to a loss of approximately HKD 47.9 million in fiscal year 2024[54] Assets and Liabilities - Total assets decreased from approximately HKD 465.6 million in 2024 to about HKD 443.9 million in 2025, a reduction of approximately 4.7%[6] - Current liabilities increased from approximately HKD 409.9 million in 2024 to about HKD 432.6 million in 2025, reflecting an increase of approximately 5.5%[6] - Non-current assets decreased from approximately HKD 87.4 million in 2024 to about HKD 74.9 million in 2025, a decline of approximately 14.3%[6] - The company’s equity attributable to owners decreased from approximately HKD 101.9 million in 2024 to about HKD 58.7 million in 2025, a decline of approximately 42.4%[7] - The total assets of the company as of December 31, 2025, amounted to HKD 518,784,000, a decrease from HKD 553,001,000 in 2024[18] - The company’s total liabilities as of December 31, 2025, were HKD 460,075,000, a decrease from HKD 451,096,000 in 2024[18] Revenue Breakdown - The smartwatch segment generated revenue of HKD 31,443,000, while the traditional watch manufacturing segment contributed HKD 47,902,000 for the year ended December 31, 2025[16] - The company’s revenue from external customers in China was HKD 59,089,000 in 2025, down from HKD 81,884,000 in 2024, reflecting a decline of approximately 27.8%[20] - Revenue from the Chinese market decreased by approximately 27.8% to about HKD 59.1 million in 2025, accounting for approximately 74.5% of total revenue[40] - Revenue from the Hong Kong and Macau markets decreased by approximately 8.8% to about HKD 10.2 million in 2025, representing approximately 12.9% of total revenue[41] - Revenue from other markets, primarily in Europe, fell by approximately 66.1% to about HKD 1.2 million in 2025, accounting for approximately 1.4% of total revenue[42] Expenses and Costs - The company’s total cost of goods sold, including inventory costs, was HKD 76,080,000 in 2025, down from HKD 90,656,000 in 2024, a decrease of approximately 16.0%[22] - Total employee costs, including directors' remuneration, decreased to HKD 50,761,000 in 2025 from HKD 60,441,000 in 2024, a reduction of about 16.0%[22] - Distribution expenses decreased by approximately 10.0% to about HKD 23.9 million in 2025 from approximately HKD 26.5 million in 2024[51] - Administrative expenses decreased by approximately 7.7% to about HKD 55.4 million in 2025 from approximately HKD 60.0 million in 2024[52] - Other income decreased by approximately 31.9% to about HKD 26.5 million in 2025 from approximately HKD 38.9 million in 2024[50] Inventory and Receivables - Trade receivables decreased to HKD 117,613,000 in 2025 from HKD 152,023,000 in 2024, representing a decline of about 22.8%[27] - The total amount of trade and other receivables decreased to HKD 135,387,000 in 2025 from HKD 143,524,000 in 2024, a decrease of about 5.7%[27] - The impairment loss provision for trade receivables at year-end 2025 was HKD 15,153,000, down from HKD 17,058,000 in 2024, reflecting a reduction of approximately 11.1%[29] - Inventory decreased from approximately HKD 288.1 million as of December 31, 2024, to approximately HKD 285.6 million as of December 31, 2025, a reduction of about HKD 2.5 million[55] Financing and Debt - The company incurred a financing cost of HKD 10,095,000 for the year ended December 31, 2025, compared to HKD 9,974,000 in 2024, showing a slight increase[18] - The company's bank and other borrowings increased from approximately HKD 338.1 million in 2024 to approximately HKD 388.9 million in 2025[57] - The company's debt-to-equity ratio rose significantly to approximately 662.6% as of December 31, 2025, compared to approximately 331.5% in 2024[57] Strategic Initiatives - The company plans to continue focusing on the development of smartwatch technology and expanding its market presence in Asia[17] - The company aims to innovate traditional watch designs to attract new consumers and maintain competitiveness against smartwatches[74] - The company plans to enhance brand promotion through online platforms and KOLs to stimulate end-consumer sales[75] - The company plans to develop the Southeast Asian market, focusing on sales in overseas duty-free shops and expanding customized styles and group purchase channels in the Hong Kong and Macau markets[81] - The company will enhance its online sales operations by optimizing product details and improving customer experience, aiming to reduce return rates and increase conversion rates across major e-commerce platforms[80] Corporate Governance - The company has complied with all corporate governance codes throughout the year, ensuring high standards of governance practices[92] - The board of directors confirmed full compliance with the standards set out in the Securities Trading Code for the fiscal year 2025[93] - The audit committee reviewed the accounting principles and practices adopted by the group in conjunction with the audited performance for the fiscal year 2025[91] - The independent auditor, Hong Kong Lixin Dehao CPA Limited, has reviewed the financial statements for the fiscal year ending December 31, 2025, but did not issue a verification opinion on the preliminary announcement[97] Dividends and Shareholder Information - The company did not recommend the declaration of a final dividend for the fiscal year 2025, consistent with the previous fiscal year[4] - The company did not declare any dividends for the years ended December 31, 2025, and 2024[25] - The company will hold its annual general meeting in Hong Kong in 2026, with notifications to be sent to shareholders at the appropriate time[96] - The company's financial results announcement and annual report for fiscal year 2025 will be made available on the Hong Kong Stock Exchange and the company's website[98]

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，概不對因本公告全部或任何部份內容 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。 New Hope Service Holdings Limited 新希望服務控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3658） 截至2025年12月31日止年度的年度業績公告 及有關獨立非執行董事變更之補充資料 年度業績摘要 截至2025年12月31日止年度，本集團業績如下： – 1 – 1. 本集團收入達人民幣1,540.5百萬元，較2024年同期收入人民幣1,480.8百萬元增加 4.0%。 2. 本集團業務分佈收入如下： 1) 物業管理服務實現收入人民幣948.3百萬元，佔總收入61.6%，較2024年同期收 入人民幣837.5百萬元增加13.2%； 2) 生活服務實現收入人民幣379.8百萬元，佔總收入24.7%，較2024年同期收入人 民幣355.6百萬元增加6.8%； 3) 商業運營服務實現收入人民幣108.2百萬元，佔總收入7.0%，較2024年同期收 入人民幣146 ...

Financial Performance - In 2025, the company's revenue was RMB 15.48 billion, a decrease of 38% compared to 2024[4] - The net loss for 2025 was RMB 596 million, a reduction of 474% compared to the previous year[4] - Earnings per share for 2025 was RMB -0.33, a decrease of 429% from 2024[4] - The total comprehensive loss for 2025 was RMB 637.61 million, compared to a comprehensive income of RMB 163.25 million in 2024[9] - The total profit for 2025 was a loss of RMB 240,901,000, compared to a profit of RMB 204,003,000 in 2024[31] - The company reported a net cash outflow from operating activities of RMB 1,868,791,000 for 2025[35] - The company incurred credit impairment losses of RMB 222,071,000 in 2025, an increase from RMB 174,431,000 in 2024[28] - The company reported no significant acquisitions or disposals of subsidiaries or associates during the reporting period[89] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 47.79 billion, down from RMB 61.84 billion in 2024[6] - Current assets totaled RMB 41.87 billion in 2025, compared to RMB 55.39 billion in 2024[5] - Total liabilities decreased to RMB 42.04 billion in 2025 from RMB 55.45 billion in 2024[6] - The company's cash and cash equivalents were RMB 4.36 billion in 2025, down from RMB 5.75 billion in 2024[5] - Long-term receivables decreased to RMB 126,409,000 in 2025 from RMB 170,007,000 in 2024, reflecting a reduction in expected cash inflows from long-term projects[19] - The current ratio decreased to 1.02 from 1.10, indicating a decline in liquidity[84] - The capital debt ratio increased to 113.2% from 94.8%, reflecting a higher reliance on debt financing[84] Revenue Breakdown - The group’s main business income from construction services was RMB 14,893,473,000 in 2025, a decline of 39% compared to the previous year[23] - The construction engineering contracting segment's revenue for 2025 was RMB 14.893 billion, with a gross margin of 4.5%, down from 5.2% in 2024[62] - The housing construction business generated revenue of RMB 8.799 billion with a gross margin of 3.5%, while infrastructure construction business revenue was RMB 4.644 billion with a gross margin of 6.4%[62] - The housing construction business revenue decreased by RMB 6.653 billion compared to the same period last year due to a sluggish real estate market and project slowdowns[1] - Infrastructure construction business revenue declined by RMB 2.667 billion, attributed to the completion of high-margin projects from the previous year[2] Cost Management - The total operating costs for 2025 amounted to RMB 14,963,560,000, a decrease of approximately 38% from RMB 24,220,003,000 in 2024[30] - Management expenses for 2025 were RMB 0.280 billion, a decrease of RMB 0.130 billion compared to 2024, mainly due to reduced salary expenses[63] - Research and development expenses were RMB 40.35 million in 2025, significantly reduced from RMB 121.20 million in 2024[8] - Research and development expenses for 2025 were RMB 0.040 billion, down RMB 0.080 billion from 2024, attributed to fewer new project initiations[64] Contractual Obligations and New Contracts - The new contract amount for 2025 is RMB 12.369 billion, a decrease of 49.3% from RMB 24.348 billion in the same period last year[41] - The total uncompleted contract amount is RMB 48.736 billion, down from RMB 52.724 billion year-on-year[41] - The company secured new contracts totaling RMB 19.43 billion for the construction of the Guang'anmen Hospital project in Hebei Province[54] - A significant contract worth RMB 5.84 billion was signed for the reconstruction of the S333 highway in Hebei Province[51] - The company has ongoing projects in municipal infrastructure, with notable contracts including RMB 5.00 billion for the Lanshan Hot Spring project in Shandong Province[51] Strategic Plans and Governance - The group plans to negotiate with lenders regarding defaults and cross-default issues, aiming to secure additional credit financing if necessary[13] - The company aims to control administrative costs and maintain capital expenditure to improve liquidity and financial condition[13] - The management has implemented several plans to alleviate liquidity pressure and improve financial conditions[39] - The company will focus on deepening market penetration and expanding development space, particularly in the Hebei province and key regions such as Inner Mongolia and the Yangtze River Delta[96] - The company has committed to maintaining high corporate governance standards and has adhered to all provisions of the Corporate Governance Code during the reporting period[99] Dividend Policy - The company plans not to distribute dividends for the year ending December 31, 2025[33] - The board has proposed not to declare a final dividend for the year ending December 31, 2025, consistent with the previous year[98]