Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 102,096,000, a slight decrease of 0.9% compared to HKD 102,996,000 for the same period in 2024[4] - Gross profit for the period was HKD 77,277,000, down 3.0% from HKD 79,655,000 in the previous year[4] - The company reported a loss attributable to owners of HKD 12,567,000, compared to a loss of HKD 4,261,000 in the same period last year, indicating a significant increase in losses[4] - Adjusted net loss for the period was HKD 6,267,000, a decline from an adjusted profit of HKD 2,739,000 in the previous year[5] - The company reported a pre-tax loss of HKD 11,627,000 for the six months ended September 30, 2025, compared to a pre-tax loss of HKD 2,893,000 in the same period of 2024[18] - The company recorded a loss of approximately HKD 12,600,000 for the reporting period, compared to a loss of about HKD 4,300,000 in the same period last year[47] Assets and Liabilities - Total assets decreased to HKD 179,091,000 as of September 30, 2025, down from HKD 218,788,000 as of March 31, 2025[10] - Total assets as of September 30, 2025, were HKD 280,616,000, down from HKD 288,904,000 as of March 31, 2025[19] - The total liabilities increased to HKD 157,801,000 as of September 30, 2025, compared to HKD 153,559,000 as of March 31, 2025[19] - The company’s net current liabilities improved to HKD 51,389,000 from HKD 75,441,000, reflecting better short-term financial health[11] - Cash and cash equivalents increased to HKD 10,975,000 from HKD 5,532,000, indicating improved liquidity[10] - Cash and bank balances increased to approximately HKD 11,000,000 as of September 30, 2025, up from HKD 5,500,000 as of March 31, 2025[48] - Accounts receivable as of September 30, 2025, amounted to approximately HKD 23,357,000, down from HKD 23,998,000 as of March 31, 2025[26] - As of September 30, 2025, accounts payable amounted to approximately HKD 2,015,000, a decrease from HKD 3,856,000 as of March 31, 2025[29] - Total assets classified as held for sale amounted to approximately HKD 28,023,000, including investment properties and cash[28] Revenue Breakdown - Revenue from the health and beauty supplements and products business was HKD 99,419,000, down 0.8% from HKD 100,191,000 year-over-year[15] - The property investment business generated revenue of HKD 2,677,000, a decrease of 4.6% compared to HKD 2,805,000 in the previous year[15] - Revenue from health and beauty supplements decreased by approximately 0.8% to about HKD 99,400,000, primarily due to cautious consumer spending amid ongoing economic downturn in Hong Kong[39] Expenses - Employee costs increased to HKD 38,690,000 for the six months ended September 30, 2025, from HKD 36,070,000 in the previous year, reflecting a rise of 7.3%[20] - Sales and distribution expenses increased by approximately 29.6% to about HKD 29,300,000, driven by intensified advertising and promotional activities for new product launches[41] - Administrative expenses rose by approximately 4.0% to about HKD 51,800,000, primarily due to increased rent for designated counters and amortization of newly capitalized software[43] - Financing costs decreased by approximately 30.6% to about HKD 2,500,000, mainly due to a reduction in average borrowings and lower floating interest rates[45] Dividends and Shareholder Information - The company did not recommend any interim dividend for the two interim periods[23] - The company does not plan to declare an interim dividend for the reporting period, consistent with the previous year[57] - The company continues to meet the minimum public float requirement of 25% as per the Hong Kong Stock Exchange listing rules, with public shareholders holding approximately 49.47% of the issued share capital[62] Strategic Initiatives - The company successfully launched several new products during the reporting period, including "御藥堂強胃健" and "御藥堂參睡紫靈芝" to enhance its product offerings[34] - The company expanded its sales network by establishing an online store on e-commerce platforms like HKTVmall, aiming to reach a broader consumer base in Hong Kong[35] - The company is committed to sustainable growth through product diversification, continuous innovation via R&D, and expanding both offline and online sales channels[58] - The company plans to maintain strict cost management policies, implementing prudent cost control measures in procurement, advertising, logistics, and office expenses to sustain operational efficiency amid a challenging business environment[58] Acquisitions and Sales - A subsidiary, Yik Hsin Limited, was sold for HKD 28 million, with the transaction completed on October 16, 2025[59] - On September 12, 2025, the company announced the acquisition of 734,040,033 shares for a total consideration of HKD 18,384,960, representing approximately 24.65% of the company's issued share capital[60] - Following the completion of the acquisition, the acquirers held 1,516,534,033 shares, approximately 48.80% of the company's issued share capital[61] - The mandatory cash offer for all issued shares commenced on September 12, 2025, and concluded on November 4, 2025, with the acquirers owning approximately 50.53% of the company's issued share capital post-offer[61] Market Conditions - The overall retail sales in Hong Kong increased by approximately 2.1% compared to the same period last year, indicating a slight improvement in the retail market[32] - The Hong Kong retail market showed slight improvement during the reporting period, driven by the recovery of tourism and consumer activities, but geopolitical tensions and the strength of the HKD against non-USD currencies are expected to continue suppressing consumer sentiment in the short term[58] Compliance and Governance - The audit committee, composed of three independent non-executive directors, reviewed the interim financial statements for the period[69] - The interim report was approved by the board on November 26, 2025, and will be published in accordance with listing rules[70]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 871,143,000, a decrease of 48.7% compared to HKD 1,699,926,000 for the same period in 2024[4] - Gross profit for the same period was HKD 84,401,000, down 86.8% from HKD 640,711,000 in 2024[4] - The company reported a loss attributable to equity holders of HKD 740,152,000, compared to a loss of HKD 442,906,000 in the previous year, representing a 67.3% increase in losses[5] - The basic and diluted loss per share for the period was HKD 3.93, compared to HKD 2.35 in 2024[5] - Other income for the period was HKD 13,178,000, significantly higher than HKD 3,490,000 in the previous year[4] - The pre-tax loss for the six months ended September 30, 2025, was HKD 671.2 million, while for the same period in 2024, it was HKD 286.9 million[22] - The company's income tax expenses for the six months ended September 30, 2025, amounted to HKD 68,965,000, a decrease of 55.7% compared to HKD 155,956,000 for the same period in 2024[8] - The basic and diluted loss per share for the six months ended September 30, 2025, was HKD (740,152,000), compared to HKD (442,906,000) for the same period in 2024[28] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 1,542,407,000, down from HKD 1,789,261,000 as of March 31, 2025[7] - The company’s net current liabilities increased to HKD 829,820,000 from HKD 5,284,487,000, indicating a significant deterioration in liquidity[7] - Non-current liabilities included convertible bonds amounting to HKD 4,327,209,000 as of September 30, 2025[8] - As of September 30, 2025, the company has recognized a net debt of approximately HKD 4.81 billion and a net current liability of about HKD 829.8 million, resulting in a loss of approximately HKD 740.2 million for the period[13] - Accounts receivable as of September 30, 2025, totaled HKD 856,484,000, down from HKD 1,092,671,000[34] - Trade payables as of September 30, 2025, amounted to HKD 271,482,000, a decrease from HKD 301,305,000[35] - The debt portion of convertible bonds as of September 30, 2025, was HKD 3,064,671,000[36] - The company has a financing arrangement with a major shareholder, providing HKD 1.9 billion, with an outstanding amount of HKD 856.4 million as of September 30, 2025[12] Tax and Legal Matters - The total tax amount reassessed by the Mongolian Tax Dispute Resolution Committee for the fiscal years 2017 to 2020 is MNT 412.3 billion (approximately HKD 902.6 million)[11] - MoEnCo LLC received a revised tax demand from the Mongolian tax authorities, adjusting the total tax amount to 413,400,000,000 Mongolian Tugrik (approximately HKD 929,800,000) due to alleged underreporting of sales revenue[25] - The total provision for tax liabilities was HKD 955,600,000, which includes tax provisions and penalties of HKD 409,000,000[27] - MoEnCo is currently in legal proceedings to challenge the tax reassessment amounting to approximately HKD 902,600,000[26] - The company disagrees with the tax assessment based on processed coal market prices, as it exports unprocessed raw coal, which naturally has a lower selling price[71] - The tax dispute resolution committee ruled that MoEnCo must pay a total of 412.3 billion Mongolian Tugrik (approximately HKD 902.6 million) for the 2017-2020 tax years[71][78] - MoEnCo agreed to pay a settlement amount of 120.8 billion Mongolian Tugrik (approximately HKD 279 million) to the Mongolian tax authorities, primarily for the 2022 and 2023 tax years, to be paid in six installments[72][78] - The company has taken steps to resolve its tax disputes to address the issue of the auditor's disclaimer of opinion on the financial statements[75] - The company is actively seeking constructive dialogue with the Mongolian tax authorities to reach an amicable resolution regarding the tax disputes[74][78] Operational Performance - For the six months ended September 30, 2025, the coal mining segment reported revenue of HKD 871.1 million with a segment loss of HKD 332.2 million[17] - For the six months ended September 30, 2024, the coal mining segment reported revenue of HKD 1.70 billion with a segment loss of HKD 76.4 million[18] - Sales volume for coking coal was approximately 851,000 tons, down from 1,006,900 tons in the previous year[46] - Average selling price for coking coal was HKD 1,016.4 per ton, down from HKD 1,685.7 per ton in the previous year[46] - The production of coking coal and thermal coal was approximately 1.68 million tons and 895,100 tons, respectively, down from 2.04 million tons and 2.21 million tons in the previous fiscal period[61] - Approximately 1.53 million tons of raw coal were processed, resulting in about 1.20 million tons of washed coking coal, with recovery rates of 79.5% and 74.9% for the processing plants[62] - The company transported about 1.35 million tons of raw coking coal from Mongolia to Xinjiang during the fiscal period, down from 1.66 million tons in the previous year[63] - The largest customer accounted for approximately 61.3% of the company's revenue during the fiscal period, with sales of about 488,100 tons of washed coking coal[64] - Mongolia's coal exports increased by 2.3% year-on-year to 62.61 million tons in the first nine months of 2025, with China remaining the primary market[59] Strategic Initiatives - The company adopted a defensive strategy to mitigate the impact of declining coal prices in China[46] - The company implemented cost-saving measures, including renegotiating transportation terms with carriers[47] - The advanced smart coal washing plant for dry coal selection has recently commenced trial operations, expected to enhance operational efficiency and product quality[88] Employee and Governance - The company employed 780 full-time employees across Hong Kong, Mongolia, and China as of September 30, 2025[90] - The company has adopted a customized code for securities trading by directors, which is less stringent than the standard code outlined in the listing rules[94] - All directors confirmed compliance with the securities trading regulations during the financial period ending September 30, 2025, with no violations reported among relevant employees[96] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the six months ending September 30, 2025, and found no objections to the accounting methods adopted by the company[97] Market Conditions - China's GDP grew by 5.2% year-on-year in the first half of 2025, indicating strong economic resilience[57] - Global crude steel production decreased by 1.6% year-on-year to 1,373.8 million tons, with China's production at 746.3 million tons, down 2.9%[57] - The average export price of Chinese steel dropped by 9.5% year-on-year in the first nine months of 2025, reflecting a strategy of price reduction to increase volume[58] - In the first nine months of 2025, China's total coal production reached 3.57 billion tons, representing a year-on-year increase of 2%[59] - During the same period, China imported over 34.59 million tons of coal, a decrease of 11.1% year-on-year, with coking coal imports down by 6.4%[59] - The Mongolian economy continues to face pressure due to declining coal demand and prices, impacting public finances and leading to delays in infrastructure projects[66] Future Outlook - The company has no specific future plans regarding significant investments or capital assets as of the announcement date[84] - There were no significant investments or acquisitions involving subsidiaries or joint ventures during the financial period[83] - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the financial period[91] - The company has no significant contingent liabilities as of September 30, 2025[86]

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 就 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。 中期業績公佈 截 至2025年9月30日 止6個 月 財務摘要 未經審核中期業績 富士高實業控股有限公司* （「本公司」）董 事（「董 事」）會（「董事會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（「富士高」或「本集團」）截 至2025年9月30日 止6個 月（「中 期 期 間」）之 未 經 審 核 綜 合 業 績。 中期業績已經本公司審核委員會與獨立核數師遵照香港會計師公會頒佈之 香港審閱準則第2410號「由 實 體 的 獨 立 核 數 師 執 行 的 中 期 財 務 資 料 審 閱」審 閱。 * 僅供識別 - 1 - • 收 入：434,900,000港 元，下 跌15.8%（2024：516,400,000港 元） • 毛 利 率：20.3%，下 跌3.2個 百 分 點（2024：23.5%） • 歸 屬 本 公 司 股 權 ...

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 內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號 ： 2326） 截至二零二五年九月三十日止六個月之 中期業績公佈 中期業績 新源萬恒控股有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（統稱為 「本集團」）截至二零二五年九月三十日止六個月之未經審核簡明綜合業績，連同去年 同期之比較數字如下： 簡明綜合損益表 截至二零二五年九月三十日止六個月 | | | 截至九月三十日止六個月 | | | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | | | 附註 | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收益 | 3(a) | 371,705 | 291,858 | | 銷售成本 | | (370,912) | (297,279) | | 毛利╱（毛損） | | 793 | (5,421) | | 其他開支淨額 | 4 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容 而引致的任何損失承擔任何責任。 RYKADAN CAPITAL LIMITED 宏基資本有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2288） 截至二零二五年九月三十日止六個月期間之 中期業績公告 | 財務摘要 | | | | --- | --- | --- | | | 截至下列日期止六個月期間 | | | | 二零二五年 | 二零二四年 | | | 九月三十日 | 九月三十日 | | | | （經重列） | | 業績： | | | | 來自持續經營業務的期內虧損（千港元） | (64,549) | (33,728) | | 來自已終止經營業務的期內溢利（虧損）（千港元） | 39,407 | (57,356) | | 期內虧損 | | | | －持續及已終止經營業務（千港元） | (25,142) | (91,084) | | | 於二零二五年 | 於二零二五年 | | | 九月三十日 | 三月三十一日 | | 每股財務資 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 | | | | | | | | | | | | | | | | | | | | （未 | 經 | 審 | 核） | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | | | | | | | | | | | 截 | 至9月30日 | | 止 | 六 | ...

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。 ASIA ORIENT HOLDINGS LIMITED 滙漢控股有限公司** （於百慕達註冊成立之有限公司） （股份代號：214） 截至二零二五年九月三十日止六個月 中期業績公佈 | 財務摘要 | | | | | --- | --- | --- | --- | | （除另有註明外，金額以百萬港元列示） | | | | | | | 截至九月三十日止六個月 | | | | 二零二五年 | 二零二四年 | 變動 | | 收入 | 5,384 | 1,632 | +230% | | 股東應佔虧損 | (219 ) | ) (239 | -8% | | 每股虧損－基本 | 港元 (0.26 ) | 港元 (0.28 ) | -8% | | 股東應佔基礎利潤╱（虧損）* | 68 | ) (81 | 不適用 | | | 二零二五年 | 二零二五年 | | | | 九月三十日 | 三月三十一日 | | | 資產總值 ...

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 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 會 就 因 本 公 佈 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 LEGENDARY EDUCATION GROUP LIMITED 傳承教育集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8195） 截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的 特 色 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 較 高 投 資 風 險。有 意 投 資 的 人 士 應 瞭 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 的 考 ...

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。 ASIA STANDARD INTERNATIONAL GROUP LIMITED 泛海國際集團有限公司** （於百慕達註冊成立之有限公司） （股份代號：129） 截至二零二五年九月三十日止六個月 中期業績公佈 | 財務摘要 | | | | | --- | --- | --- | --- | | （除另有註明外，金額以百萬港元列示） | 截至九月三十日止六個月 | | | | | 二零二五年 | 二零二四年 | 變動 | | 收入 | 5,340 | 1,583 | +237% | | 股東應佔虧損 | (344) | (386) | -11% | | 每股虧損－基本 | 港元 (0.24) | 港元 (0.29) | -17% | | 股東應佔基礎利潤╱（虧損）* | 189 | (115) | 不適用 | | | 二零二五年 | 二零二五年 | | | | 九月三十日 | 三月三十一日 | | | 資 ...

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，並明確表示概不就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。 CENTRAL DEVELOPMENT HOLDINGS LIMITED 中發展控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：475） 截至二零二五年九月三十日止六個月中期業績公告 中發展控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈，本 公司及其附屬公司（統稱「本集團」）截至二零二五年九月三十日止六個月之未經 審核中期業績，該中期業績已經由本公司審核委員會審閱，其連同上一年度同期 之比較數字如下： | | | 於二零二五年 | 於二零二五年 | | --- | --- | --- | --- | | | | 九月三十日 | 三月三十一日 | | | 附註 | 千港元 | 千港元 | | | | （未經審核） | （經審核） | | 非流動資產 | | | | | 物業、廠房及設備 | 12 | 14,382 | 14,772 | | 使用權資產 | 12 | 7,42 ...