Financial Performance - The company recorded revenue of approximately HKD 459.5 million for the six months ended September 30, 2025, an increase of approximately HKD 82.8 million or 22.0% compared to HKD 376.7 million in the same period last year[10]. - Gross profit increased to approximately HKD 84.9 million, up by approximately HKD 17.1 million or 25.2% from HKD 67.8 million year-on-year, with a gross margin of approximately 18.5%, slightly up from 18.0%[12]. - The company reported a net profit attributable to shareholders of approximately HKD 29.9 million, compared to HKD 21.8 million in the same period last year[12]. - Profit before tax increased to HKD 36,511,000, a 35% rise compared to HKD 26,983,000 in the previous year[84]. - Net profit for the period was HKD 30,764,000, reflecting a 36% increase from HKD 22,547,000 in the prior year[84]. - Total comprehensive income for the period reached HKD 39,760,000, up 56% from HKD 25,557,000 year-on-year[84]. - Basic and diluted earnings per share increased to HKD 4.98, compared to HKD 3.63 in the same period last year[84]. - The company reported a net profit of HKD 29,853,000 for the period, compared to HKD 21,759,000 in the same period last year, representing an increase of approximately 37.1%[89]. - Total comprehensive income for the period was HKD 39,163,000, up from HKD 24,769,000 year-over-year, indicating a growth of about 58.2%[90]. Expenses and Costs - General and administrative expenses increased to approximately HKD 44.1 million, up by approximately HKD 3.9 million from HKD 40.2 million year-on-year, consistent with the increase in revenue[12]. - Sales costs increased by approximately HKD 65.7 million or 21.3%, with sales costs accounting for approximately 81.5% of total revenue, a slight decrease from 82.0% year-on-year[15]. - Financial expenses rose to approximately HKD 1.3 million from about HKD 0.9 million in the same period last year, primarily due to an increase in the average balance of bank borrowings[22]. - Income tax expenses increased to approximately HKD 5.7 million from about HKD 4.4 million in the previous year, mainly due to an increase in taxable profits during the reporting period[24]. - Research and development expenses increased to HKD 11,028,000 for the six months ended September 30, 2025, from HKD 9,449,000 in 2024, reflecting a focus on innovation[121]. Assets and Liabilities - Total current assets as of September 30, 2025, were approximately HKD 557.3 million, representing 61.8% of total assets, up from HKD 508.4 million and 60.4% as of March 31, 2025[26]. - Total assets as of September 30, 2025, amounted to HKD 902,355,000, an increase from HKD 842,351,000 as of March 31, 2025[86]. - Current liabilities increased to HKD 240,350,000 from HKD 211,317,000 as of March 31, 2025[87]. - Accounts payable rose to HKD 150,784,000 as of September 30, 2025, compared to HKD 113,990,000 as of March 31, 2025, indicating a significant increase in liabilities[157]. - The company’s bank borrowings as of September 30, 2025, amounted to HKD 67,206,000, with a total cash flow of HKD 233,080,000 due within one year[106]. Shareholder Information - The company does not recommend any interim dividend during the reporting period[71]. - The company declared and paid a final dividend of HKD 7,800,000, compared to HKD 4,800,000 in the previous period, reflecting a 62.5% increase in dividends[92]. - The board proposed a final dividend of HKD 0.013 per share for the year ending March 31, 2025, with a total payout of HKD 7,800,000 made in September 2025[132]. - As of September 30, 2025, Mr. Sun Guohua holds 449,999,012 shares, representing 75% of the company's equity[63]. - KIG Real Estate Holdings Limited, in which Mr. Sun Guohua has a 40.50% beneficial ownership, holds 449,999,012 shares, also representing 75% of the company's equity[66]. Corporate Governance - The board of directors confirms compliance with the corporate governance code, except for the deviation where the roles of Chairman and CEO are held by the same individual, Mr. Sun Guohua[67]. - The audit committee has reviewed the interim financial information and believes it complies with the applicable standards and regulations[73]. - The company must comply with listing rules regarding the issuance of securities to shareholders[51]. Operational Developments - The company aims to enhance production efficiency, contributing to the slight increase in gross margin[16]. - The company faced challenges due to geopolitical tensions and high inflation rates affecting the global economy[10]. - The company plans to expand its overseas production base in Malaysia to provide flexible supply chain solutions and capture new customer opportunities amid geopolitical uncertainties[41]. - The total number of employees increased to 1,282 as of September 30, 2025, from 1,057 employees a year earlier[43]. Financial Management - The company has established financial risk management policies to ensure timely settlement of all payables within the credit period[157]. - The company regularly monitors compliance with financial covenants related to its borrowings, with no breaches reported as of September 30, 2025[25]. - The debt-to-asset ratio must not exceed 60%, and the current ratio must not be less than 1.0, both of which were compliant as of September 30, 2025[25].

Financial Performance - The group's consolidated revenue increased by 2.93% to HKD 421 million for the six months ended September 30, 2025, compared to HKD 409 million in 2024[5]. - The ODM business revenue rose by 6.90% to HKD 341 million, accounting for 81.00% of total revenue, with European and Asian markets growing by 12.59% and 41.77% respectively[6]. - The brand eyewear distribution business revenue declined by 11.24% to HKD 79 million, representing 18.76% of total revenue, primarily due to weak consumer demand in core markets[7]. - Revenue for the six months ended September 30, 2025, was HKD 420,938,000, an increase of 2.7% compared to HKD 408,829,000 for the same period in 2024[35]. - Total revenue for the six months ended September 30, 2025, was HKD 420,938 thousand, representing an increase from HKD 408,829 thousand in the prior year, with eyewear products contributing HKD 420,236 thousand[47]. - The company reported a net loss attributable to owners of HKD 20,410,000, compared to a loss of HKD 11,308,000 in the previous year, representing an increase in loss of 80.8%[35]. - The company reported a loss of HKD 20,410,000 for the six months ended September 30, 2025, compared to a loss of HKD 11,308,000 for the same period in 2024, representing an increase in loss of 80.5%[59]. Profitability and Margins - The gross profit margin decreased to 10.55% from 12.88% in 2024, attributed to intense industry competition[5]. - Gross profit decreased to HKD 44,397,000, down 15.6% from HKD 52,669,000 year-over-year[35]. - The basic loss per share for the period was HKD 7.77, compared to HKD 4.30 in the prior year, reflecting a deterioration in performance[35]. Cash Flow and Liquidity - As of September 30, 2025, the group held cash and bank balances of HKD 120 million, with outstanding bank loans of approximately HKD 41 million[9]. - Cash and cash equivalents decreased significantly to HKD 119,918,000 from HKD 185,279,000, a decline of 35.2%[38]. - For the six months ended September 30, 2025, the net cash used in operating activities was HKD (55,081) thousand, an improvement from HKD (64,368) thousand in the same period of 2024[42]. - The company incurred a net cash outflow from investing activities of HKD (12,217) thousand, significantly higher than HKD (2,656) thousand in the previous year[42]. - The company’s financing activities generated a net cash inflow of HKD 1,407 thousand, a recovery from a net outflow of HKD (10,714) thousand in the same period of 2024[42]. Assets and Liabilities - Total assets as of September 30, 2025, were HKD 558,681,000, compared to HKD 548,057,000 as of March 31, 2025, reflecting a slight increase of 1.3%[38]. - Current liabilities increased to HKD 292,735,000 from HKD 250,191,000, marking a rise of 17%[39]. - Total equity decreased to HKD 614,239,000 from HKD 629,977,000, a decline of 2.5%[39]. - Accounts receivable increased to HKD 269,003,000 as of September 30, 2025, from HKD 208,124,000 as of March 31, 2025, an increase of 29.2%[63]. - The aging analysis of accounts receivable shows that current receivables increased to HKD 246,927,000 from HKD 153,012,000, a rise of 61.4%[64]. Employee and Operational Costs - The company has approximately 3,100 employees, with compensation based on performance, service duration, and market conditions[14]. - Employee costs decreased to HKD 151,351,000 from HKD 153,412,000 year-over-year, a reduction of 1.4%[5]. - The company’s administrative costs for the six months ended September 30, 2025, were HKD (5,026) thousand, slightly higher than HKD (5,076) thousand in the previous year[49]. Strategic Initiatives - A new production facility in Vietnam has been completed, providing welcomed new capacity that the company plans to leverage to enhance production efficiency and competitiveness in the industry[18]. - The company aims to explore new sales channels and distribution partners for its branded eyewear business, while also reviewing its brand portfolio to incorporate new brands with strong potential[18]. - The company will introduce a more flexible product range with varied pricing to adapt to changing consumer behaviors and preferences, integrating more design and customization elements[18]. Market Conditions and Risks - The company anticipates continued volatility in market demand for eyewear products due to geopolitical and macroeconomic uncertainties, particularly from U.S. tariff measures affecting global supply chains since April 2025[18]. - The group closely monitors foreign exchange risks, primarily in USD, HKD, and RMB, utilizing forward contracts to manage potential risks[13]. - The company incurred a net foreign exchange loss of HKD 1,754,000, down from HKD 2,822,000 in the previous year, a decrease of 37.9%[5]. Shareholder Information - Major shareholders include individuals holding over 5% of the company's issued share capital, with significant holdings by directors[79]. - The Vision Trust holds 141,533,828 shares, representing 53.86% of the company's issued share capital[80]. - The total shares held by the top five shareholders account for 90.56% of the company's issued share capital[83][85][86]. - The company has a significant concentration of ownership among its major shareholders, indicating potential influence over corporate decisions[83][85][86]. - The changes in shareholdings reflect active trading and potential strategic repositioning among major investors[85].

INTERIM REPORT 中期報告 2025/26 Contents 目錄 2 CORPORATE INFORMATION 公司資料 INTERIM FINANCIAL INFORMATION 中期財務資料 4 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收益表 5 Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 7 Condensed Consolidated Statement of Changes In Equity 簡明綜合權益變動表 8 Condensed Consolidated Statement of Cash Flows 簡明綜合現金流量表 9 Notes to the Condensed Consolidated Financial Statements 簡明綜合財務報表附註 31 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分 ...

Financial Performance - The company's loss significantly narrowed to approximately HKD 5.9 million, compared to a loss of about HKD 23.3 million in the same period last year, primarily due to a major corporate restructuring completed in March 2025[5]. - Total revenue from continuing operations for the six months ended March 31, 2025, was approximately HKD 110.4 million, down from HKD 119.6 million in the previous year[7]. - Revenue for the six months ended September 30, 2025, was HKD 110,434,000, a decrease of 7.3% compared to HKD 119,619,000 for the same period in 2024[29]. - The total comprehensive loss for the period was HKD 5,924,000, compared to a loss of HKD 23,290,000 in the prior year[30]. - Basic loss per share for the period was HKD 0.35, compared to HKD 1.25 for the same period last year[30]. - The loss before tax for the six months was HKD 5,326,000, an improvement from a loss of HKD 9,495,000 in the previous year[29]. - The company reported a loss attributable to owners of the company of HKD (6,457,000) for the six months ended September 30, 2025, compared to a loss of HKD (13,717,000) in the same period of 2024, indicating an improvement of approximately 53%[63]. Revenue Breakdown - Revenue from the construction segment increased to approximately HKD 88.4 million, up from HKD 64.2 million year-on-year, mainly driven by construction contracts in Cambodia[7]. - The trading segment recorded revenue of approximately HKD 22 million, a decrease from HKD 55.4 million in the same period last year, attributed to a decline in trading volume[7]. - For the six months ended September 30, 2025, total revenue from continuing operations was HKD 110,434,000, with construction contributing HKD 88,387,000 and trade contributing HKD 22,047,000[44]. - The company reported a total revenue from construction contracts of HKD 88,387,000 for the six months ended September 30, 2025, compared to HKD 64,227,000 in 2024, an increase of approximately 37.5%[58]. Expenses and Costs - Administrative expenses decreased to approximately HKD 7.4 million from HKD 11.6 million in the previous year, mainly due to reduced employee costs in the Hong Kong office[9]. - Administrative expenses decreased to HKD 7,353,000 from HKD 11,628,000 year-on-year, reflecting a reduction of 36.5%[29]. - The gross profit for the construction segment was approximately HKD 1.8 million, compared to HKD 0.6 million in the previous year, reflecting improved performance despite administrative and operational costs not being fully covered[8]. - The company reported other income of HKD 1,000, down from HKD 337,000 in the previous year[29]. Assets and Liabilities - As of September 30, 2025, total assets decreased to HKD 143,803,000 from HKD 172,344,000 as of March 31, 2025, representing a decline of approximately 16.5%[31]. - Current liabilities decreased to HKD 125,936,000 from HKD 152,709,000, a reduction of about 17.5%[31]. - The net asset value as of September 30, 2025, was HKD 40,989,000, down from HKD 43,069,000, indicating a decrease of approximately 4.8%[32]. - The company’s total liabilities decreased to HKD 125,936,000 from HKD 152,709,000, indicating a reduction of approximately 17.5%[31]. - As of September 30, 2025, total reportable segment assets were HKD 134,826,000, with construction assets at HKD 132,341,000 and trade assets at HKD 2,485,000[48]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 8,493,000 for the six months ended September 30, 2025, compared to a net inflow of HKD 10,594,000 for the same period in 2024[34]. - The company’s financing activities generated a net cash inflow of HKD 303,000, contrasting with a net cash outflow of HKD 7,816,000 in the previous year[34]. - Cash and cash equivalents decreased to HKD 6,571,000 from HKD 14,487,000, a decline of approximately 54.5%[34]. - As of September 30, 2025, the company had bank borrowings of HKD 7,382,000, slightly decreased from HKD 7,652,000 as of March 31, 2025[78]. Corporate Governance - The company has established an audit committee composed of three independent non-executive directors to oversee financial reporting[18]. - The group has issued 1,869,159,962 ordinary shares with a par value of HKD 0.01 each, totaling HKD 18,692 thousand as of both September 30, 2025, and March 31, 2025[79]. - The company did not declare any interim dividend for the six months ended September 30, 2025[26]. - The group did not declare any interim dividends for the six months ended September 30, 2025, consistent with the previous year[81]. Discontinued Operations - The group terminated its engineering construction business in Hong Kong by selling Win Vision Holdings Limited and its subsidiaries as of March 31, 2025[82]. - The discontinued operations reported a revenue of HKD 0 for the six months ended September 30, 2025, compared to HKD 69,777 thousand for the same period in 2024[83]. - The net cash flow from operating activities for the discontinued operations was HKD 0, while cash flow from investing activities was HKD 48,493 thousand, and cash flow from financing activities was HKD (68,490) thousand[83]. Market and Strategic Outlook - The company aims to enhance long-term profitability and pursue sustainable growth, focusing on opportunities in Malaysia, China, and Cambodia[6]. - The company has no significant foreign exchange risks apart from certain receivables denominated in foreign currencies, with no major capital commitments or contingent liabilities reported[11]. - The company has not applied any new standards or interpretations that have not yet come into effect for the current accounting period[41].

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 279,607,000, a decrease of 13.5% compared to HKD 323,320,000 for the same period in 2024[8] - Gross profit increased to HKD 54,217,000, up 4.6% from HKD 51,889,000 year-over-year[8] - The net loss for the period was HKD 8,134,000, an improvement from a loss of HKD 15,367,000 in the previous year, representing a 47.1% reduction in losses[9] - Basic and diluted loss per share improved to HKD 1.7 from HKD 3.3, indicating a 48.5% decrease in loss per share[8] - The company incurred a loss of HKD 14,785,000 during the period, leading to a total comprehensive loss of HKD 15,043,000[12] - The group reported a segment profit of HKD 2,518,000 for the six months ending September 30, 2025, compared to a segment loss of HKD 3,456,000 for the same period in 2024[24][26] - The pre-tax loss for the six months ending September 30, 2025, was HKD 7,303,000, an improvement from a pre-tax loss of HKD 15,202,000 for the same period in 2024[24][26] - Total employee benefits expenses for the six months ending September 30, 2025, amounted to HKD 63,797,000, an increase from HKD 53,631,000 in the same period of 2024, reflecting a rise of approximately 18.9%[27] - Revenue decreased by 13.5% to HKD 279,600,000, with gross profit at HKD 54,200,000, resulting in a gross margin of 19.4%, an increase of approximately 3.4 percentage points year-on-year[46] - Pre-tax loss reduced by 52.0% to HKD 7,300,000, attributed to improved operational efficiency and cost control[46] Assets and Liabilities - Total assets decreased to HKD 438,418,000 from HKD 468,428,000, reflecting a decline of 6.4%[10] - Current liabilities decreased to HKD 151,837,000 from HKD 174,245,000, a reduction of 12.8%[10] - Non-current liabilities increased to HKD 2,630,000 from HKD 774,000, showing a significant rise of 239.5%[11] - Cash and cash equivalents increased to HKD 146,997,000 from HKD 136,583,000, a growth of 7.3%[10] - Inventory decreased to HKD 94,401,000 from HKD 105,881,000, a decline of 10.8%[10] - The company’s total equity attributable to owners decreased to HKD 382,712,000 as of September 30, 2025, down from HKD 399,428,000 as of April 1, 2024[12] - As of September 30, 2025, trade receivables amounted to HKD 65,141,000, a decrease from HKD 104,196,000 as of March 31, 2025, reflecting a significant reduction in receivables aged 0-30 days from HKD 87,794,000 to HKD 42,474,000[34] - Trade payables decreased slightly to HKD 56,320,000 from HKD 57,487,000, with payables aged 0-30 days also declining from HKD 34,485,000 to HKD 29,740,000[35] Cash Flow and Financing - The net cash generated from operating activities for the six months ended September 30, 2025, was HKD 34,774,000, compared to a net cash outflow of HKD 24,106,000 in the previous year[14] - The cash and cash equivalents at the end of the period increased to HKD 146,997,000 from HKD 136,583,000 at the beginning of the period[14] - The company has reported a significant increase in bank loans raised, amounting to HKD 80,981,000 during the financing activities for the period[14] - The company repaid bank borrowings of HKD 102,129,000 during the six months ended September 30, 2025, compared to HKD 81,592,000 in the same period last year[36] - New bank borrowings of HKD 80,981,000 were raised during the reporting period, intended for general working capital, with a requirement for repayment within one year[36] Market Performance - Sales in the North American market decreased by 23.3% to HKD 101,100,000, with U.S. sales contributing HKD 74,500,000, a slight increase of 2.5%[42] - Sales in the Asian market decreased by 8.4% to HKD 162,800,000, primarily due to an 11.5% decline in sales to domestic brands in China, totaling HKD 43,000,000[44] - The company experienced a significant drop in sales to Canada, down 55.0% to HKD 26,600,000, due to economic weakness and changes in procurement strategies by North American retailers[43] - The overall economic slowdown and trade tensions have negatively impacted sales, particularly in the domestic market, leading to a decrease in sales to domestic brand customers[39] - Total retail sales slightly decreased by 6.4% to HKD 108,100,000, while operating profit from self-owned retail business increased by 31.3% to HKD 4,200,000[45] Strategic Initiatives - The company plans to continue expanding its market presence in North America and Asia, focusing on increasing sales in these regions[21] - The company is enhancing its manufacturing platform in Vietnam to alleviate supply chain pressures and is exploring strategic alliances for flexible production capabilities[47] - The company plans to continue a digital-first omnichannel business model for its retail brand "Betu," focusing on high conversion rate sales through live and social e-commerce platforms[48] - The company focused on improving production efficiency and streamlining operations, resulting in an improvement in operational losses compared to the previous year[41] Corporate Governance - The board does not recommend an interim dividend for the six months ended September 30, 2025[56] - The company has complied with all corporate governance codes as per the listing rules during the reporting period[68] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting policies and financial reporting matters[67] - The company has adopted the standard code for securities transactions by directors and confirmed compliance throughout the reporting period[69] - There were no undisclosed interests in the company's shares by any other individuals as of September 30, 2025[63]

Domaine Power Holdings Limited Domaine Power Holdings Limited 域能控股有限公 司 Interim Report 2025 中期報 告 CONTENTS 目錄 02 Corporate Information 公司資料 05 Financial Highlights 財務摘要 06 Management Discussion and Analysis 管理層討論及分析 30 Corporate Governance 企業管治 31 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收益表 33 Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 35 Condensed Consolidated Statement of Changes in Equity 簡明綜合權益變動表 37 Condensed Consolidated Statem ...

Financial Performance - For the six months ended September 30, 2025, the Company reported revenue of HK$21,937,000, a slight increase of 0.32% compared to HK$21,867,000 in the same period of 2024[9]. - Gross profit for the same period was HK$667,000, representing a significant increase of 64.8% from HK$404,000 in 2024[9]. - Other income and gains surged to HK$16,110,000, compared to only HK$3,000 in the previous year, indicating a substantial growth in this area[9]. - The profit before income tax for the period was HK$11,131,000, a turnaround from a loss of HK$4,577,000 in the corresponding period of 2024[9]. - The net profit for the period reached HK$11,146,000, compared to a loss of HK$4,577,000 in 2024, showcasing a strong recovery[9]. - Basic and diluted earnings per share were both HK$0.82, a significant improvement from a loss of HK$0.33 per share in the previous year[10]. - Total comprehensive income for the period was HK$11,090,000, compared to a comprehensive loss of HK$4,590,000 in 2024, reflecting a positive shift in overall financial health[10]. Expenses and Costs - The Company incurred administrative expenses of HK$5,617,000, which increased from HK$4,931,000 in the same period last year, indicating rising operational costs[9]. - Distribution costs decreased to HK$6,000 from HK$39,000 in 2024, suggesting improved efficiency in distribution[9]. - The Company reported finance costs of HK$23,000, up from HK$14,000 in the previous year, indicating a slight increase in borrowing costs[9]. - Employee benefit expenses increased to HK$3,303,000 in 2025 from HK$3,078,000 in 2024, reflecting a rise of approximately 7.3%[64]. - The cost of inventories sold was HK$171,000 for the six months ended September 30, 2025, compared to HK$91,000 in 2024, indicating an increase of approximately 87.9%[64]. Assets and Liabilities - Total non-current assets decreased from HK$153,000 to HK$130,000, a decline of 15%[12]. - Current assets increased significantly from HK$15,101,000 to HK$23,205,000, representing a growth of 54%[12]. - Current liabilities rose from HK$17,581,000 to HK$26,224,000, an increase of 49%[12]. - The net current liabilities worsened from HK$2,480,000 to HK$3,019,000, indicating a decline in liquidity[12]. - Total liabilities decreased to HK$27,496,000 as of September 30, 2025, down from HK$30,206,000 as of March 31, 2025, a reduction of 8.5%[51]. Business Operations and Strategy - The Group's principal activities include system development services, value-added technical consultation services, and trading of hardware products and short messaging services[19]. - The Group is actively controlling administrative costs through human resources optimization and management remuneration adjustments[30]. - The Group's diversification and transformation strategy aims to mitigate the impact of complicated and volatile market conditions[114]. - The Group's strategic focus has shifted from IT system development to operational management, broadening revenue sources and fostering business growth[118]. - The company is focusing on expanding its digital product offerings, which contributed significantly to revenue growth in 2025[44]. Contracts and Collaborations - The Group signed three new contracts in May and June 2025 to cooperate with two information technology companies in providing short messaging services, which are expected to be profitable[32]. - The Group signed two contracts in the first quarter of the financial year ended 31 March 2024 to provide SMS for businesses through a major telecommunications carrier's network[116]. - In September 2025, the Group signed a contract to provide technology services for digital product operations, focusing on precision marketing through data management[127]. Share Capital and Ownership - The company raised net proceeds of approximately HK$100 million by issuing 450,000,000 ordinary shares at a subscription price of HK$0.225 per share[143]. - The total number of issued shares of the Company was 1,356,250,000 as of September 30, 2025[195]. - Mr. Pu Jian held 985,162,771 shares, representing 72.64% of the issued share capital of the Company as of September 30, 2025[192]. - Following an offer, Mr. Pu Jian's interest increased to 1,122,276,771 shares, approximately 82.75% of the total issued share capital of the Company[195]. Cash Flow and Financial Position - Cash and cash equivalents decreased from HK$1,839,000 to HK$267,000, a drop of 85%[16]. - Net cash used in operating activities improved from HK$4,935,000 to HK$1,303,000, a reduction of 74%[15]. - The company had a capital deficiency of HK$4,161,000 as of September 30, 2025, an improvement from HK$14,952,000[12]. - The total equity attributable to owners of the company increased from a deficit of HK$1,332,000 to HK$9,665,000[13]. Market Trends and Future Outlook - The number of short messages sent through mobile phones in China rose by 19.9% year on year in the first nine months of 2025[110]. - The development of SaaS platforms and cloud communication services is expected to boost demand for SMS among small and medium-sized enterprises in 2025[109]. - The company intends to capitalize on advancements in AI and chip development to support industrial upgrading and economic transformation in China[140]. Employee Information - As of September 30, 2025, the Group had 25 employees, an increase from 23 employees in 2024, with total remuneration of approximately HK$3,112,000, up from HK$2,848,000 in 2024[185][188]. - The Group's remuneration policies include contributions to a mandatory provident fund and a group medical scheme for employees[185][188].

Financial Performance - For the fiscal year ending August 31, 2025, the company's revenue decreased by 27.7% to RMB 130.8 million compared to the previous year[14] - The net profit for the fiscal year 2025 was RMB 38.3 million, while the core net profit decreased by 14.5% to RMB 34.8 million[14] - Total revenue for the fiscal year 2025 reached RMB 130.8 million, a decrease of 27.7% from RMB 181.0 million in fiscal year 2024[22] - Profit for fiscal year 2025 was RMB 38.3 million, down 60.3% from RMB 96.4 million in fiscal year 2024[22] - Revenue from school-related supply chain business was RMB 85.7 million, accounting for 65.5% of total revenue, down 30.2% from RMB 122.7 million in fiscal year 2024[24] - Revenue from comprehensive education services was RMB 45.1 million, representing 34.5% of total revenue, a decrease of RMB 13.1 million or 22.6% compared to fiscal year 2024[24] - Cost of revenue decreased by 35.0% to RMB 70.7 million in fiscal year 2025 from RMB 108.7 million in fiscal year 2024[25] - Gross profit for fiscal year 2025 was RMB 60.2 million, down 16.8% from RMB 72.3 million in fiscal year 2024, with a gross margin increase from 39.9% to 46.0%[26] - Other income decreased to RMB 10.9 million in fiscal year 2025 from RMB 25.7 million in fiscal year 2024, primarily due to a reduction in financial guarantee contract amortization income[27] - Financial income decreased to RMB 17.5 million in fiscal year 2025 from RMB 27.0 million in fiscal year 2024, mainly due to a decline in interest income from other receivables[31] - Financial costs increased to RMB 10.5 million in fiscal year 2025 from RMB 8.5 million in fiscal year 2024, attributed to rising interest rates[33] - Profit before tax for fiscal year 2025 was RMB 48.5 million, down from RMB 110.8 million in fiscal year 2024[34] - The group's profit for the fiscal year 2025 was RMB 38.3 million, a decrease from RMB 96.4 million in 2024[36] - Core net profit decreased by RMB 5.9 million or 14.5% to RMB 34.8 million in fiscal year 2025, while the core net profit margin increased from 22.5% in 2024 to 26.6% in 2025[38] Assets and Liabilities - Non-current assets increased from RMB 289.98 million in 2022 to RMB 387.46 million in 2025[12] - Current assets decreased from RMB 1,079.92 million in 2022 to RMB 874.04 million in 2025[12] - Current liabilities decreased from RMB 778.39 million in 2022 to RMB 611.59 million in 2025[12] - The total assets minus current liabilities increased from RMB 696.84 million in 2022 to RMB 649.92 million in 2025[12] - The capital debt ratio decreased to 37.1% as of August 31, 2025, down from 46.1% in 2024, primarily due to a reduction in bank borrowings and an increase in net profit[44] Business Operations - The company's comprehensive education services and school-related supply chain business were adversely affected by various macroeconomic and industry policy factors[14] - The school-related supply chain business remains a significant source of revenue for the company[14] - The company aims to build a school-related supply chain platform to become a one-stop comprehensive education service provider[15] - The group aims to integrate resources to create a comprehensive education service platform, including online education products and services, and plans to expand its school-related supply chain business[50] - The company plans to establish and operate a new high school in Zhongshan, with a maximum capacity of 5,000 students[14] Employee Compensation and Training - The company emphasizes the importance of employee training and retention to provide high-quality education services[52] - Total employee compensation for the fiscal year 2025 was approximately RMB 174 million, a decrease from RMB 195 million in fiscal year 2024[58] - The company has approximately 139 employees and participates in various employee benefit plans, including retirement and medical insurance[149] Shareholder Information - The company does not recommend a final dividend for the fiscal year ending August 31, 2025, consistent with the previous year[61] - The company's distributable reserves as of August 31, 2025, amounted to RMB 119.7 million[101] - Major shareholders include Bright Education Holdings with a beneficial interest of 930,000,000 shares, representing 42.70% of the company[147] - Bright Education Investment holds a beneficial interest of 570,000,000 shares, accounting for 26.17% of the company[148] Contracts and Agreements - A management service agreement was established with Yunfu Guangming Foreign Language School, with an annual service fee cap of RMB 8 million for the years ending August 31, 2026, 2027, and 2028[68] - The company has established a contract arrangement to gain control over Zhongshan Wenrui Education Investment Co., Ltd., which plans to establish a new high school in Zhongshan[114] - The exclusive management consulting and business cooperation agreement allows Dongguan Ruixing to receive the majority of economic benefits generated by Zhongshan Wenrui[118] - The company has entered into a management service agreement with Yunfu High School, where the service fee is set at 20% of the school's revenue, capped at RMB 8 million per year for the fiscal years ending August 31, 2026, 2027, and 2028[129] Compliance and Governance - The audit committee has reviewed the audited consolidated financial statements for fiscal year 2025 and discussed accounting policies with senior management[66] - The company has not entered into any significant contracts with its controlling shareholders during the fiscal year 2025[112] - The company has not purchased, sold, or redeemed any of its listed securities during the fiscal year 2025[62] - There were no significant non-compliance issues affecting the company's business and operations as of the fiscal year 2025[92] - The independent non-executive directors confirmed that the transactions under the Zhongshan contract arrangements were fair and in the overall interest of shareholders[131] Environmental and Social Responsibility - The group promotes energy-saving and recycling initiatives at its headquarters and schools, emphasizing environmental sustainability[91] - The company has made full contributions to the social insurance plan for all Chinese employees and aims to do the same for the housing provident fund as soon as feasible[92] - No charitable donations were made by the group in FY2025 and FY2024[194] Risks and Challenges - The company faces significant risks, including reliance on a few customers for most of its revenue and potential challenges in maintaining brand reputation and market recognition[89] Future Plans and Investments - The company has no major future investment or capital asset plans beyond those disclosed in the management discussion[51] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during fiscal year 2025[55]

Revenue Performance - Revenue decreased by approximately HK$165.4 million from approximately HK$330.0 million in the Last Period to approximately HK$164.6 million in the Current Period[10] - Revenue decreased by approximately HK$165.4 million, or 50.1%, from approximately HK$330.0 million for the Last Period to approximately HK$164.6 million for the Current Period[30] - Revenue for the six months ended September 30, 2025, was HK$164,570,000, a decrease of 50% compared to HK$330,021,000 for the same period in 2024[114] - Revenue from the supply, installation, and maintenance of the MVAC system was HK$130,456,000, down 48.00% from HK$251,082,000 in 2024[134] - Revenue from the supply, installation, and maintenance of low voltage electrical systems was HK$34,114,000, a decrease of 56.75% from HK$78,939,000 in 2024[134] Gross Profit and Loss - Gross profit increased by approximately HK$4.0 million from a gross loss of approximately HK$1.2 million in the Last Period to a gross profit of approximately HK$2.8 million in the Current Period[10] - The Group recorded a gross profit of approximately HK$2.8 million, with a gross profit margin of 1.7%, an improvement from a gross loss of HK$1.2 million and a margin of -0.4% in the previous year[31] - The company recorded a loss attributable to owners of approximately HK$3.9 million for the current period, compared to a loss of HK$8.7 million in 2024[51] - For the six months ended 30 September 2025, the loss attributable to owners of the Company was HK$3,921,000, a decrease of 55.2% compared to a loss of HK$8,747,000 for the same period in 2024[151] - Loss before taxation was HK$5,340,000, an improvement from a loss of HK$11,077,000 in the same period last year[114] Project Awards and Revenue Sources - The Group was awarded 5 projects in the Current Period with an aggregate contract sum of approximately HK$16.0 million, compared to 3 projects with a contract sum of approximately HK$109.3 million in the Last Period[11] - Revenue from MVAC system projects accounted for approximately 79.3% of total revenue in the Current Period, up from 76.1% in the Last Period[18] - Revenue from low voltage electrical system projects accounted for approximately 20.7% of total revenue in the Current Period, down from 23.9% in the Last Period[18] - The largest project awarded in the Current Period was for MVAC system installation for commercial buildings in Hong Kong, with a contract sum of approximately HK$5.8 million[16] - A project related to MVAC system installation was awarded with a contract sum of approximately HK$19.0 million after the Current Period[23] Financial Position and Liquidity - The Group maintained a healthy liquidity position with bank balance and cash of approximately HK$150.7 million as of 30 September 2025, up from HK$97.5 million[48] - The current ratio of the Group was approximately 2.2 times as of 30 September 2025, compared to 2.3 times as of 31 March 2025[49] - The group maintained a strong liquidity position with cash and bank balances of approximately HK$150.7 million as of September 30, 2025, up from HK$97.5 million as of March 31, 2025[53] - The current ratio as of September 30, 2025, was approximately 2.2 times, compared to 2.3 times as of March 31, 2025[53] - The group had no bank borrowings, resulting in a gearing ratio of nil as of September 30, 2025[55] Administrative and Other Expenses - Administrative expenses decreased to approximately HK$12.9 million from HK$13.4 million in the Last Period[34] - Other income slightly decreased to approximately HK$1.5 million from HK$1.7 million in the Last Period[32] - The Group recorded an other gain of approximately HK$3.2 million, attributed to fair value gains on financial assets[40] - Total staff costs for the six months ended 30 September 2025 were HK$37,861,000, down 21.9% from HK$48,494,000 in 2024[151] Shareholder Information and Corporate Governance - As of September 30, 2025, Yu Cheung Choy holds a long position of 246,000,000 shares, representing 61.50% of the issued share capital of the Company[88] - Lau Man Ching holds a long position of 54,000,000 shares, representing 13.50% of the issued share capital of the Company[88] - The Company is committed to maintaining good corporate governance standards to enhance shareholder value[80] - The Audit Committee was established on December 6, 2016, to oversee financial integrity and risk management[99] - All Directors and chief executives confirmed compliance with the securities trading standards during the reporting period[84] Investments and Financial Assets - The Group's financial assets at fair value through profit or loss included equity securities listed in Hong Kong valued at HK$11,254,000 as of 30 September 2025, up from HK$10,407,000 as of 31 March 2025[186] - Unlisted funds in overseas were valued at HK$13,363,000 as of 30 September 2025, compared to HK$12,334,000 as of 31 March 2025[186] - Investment in listed bonds at amortized cost decreased to HK$272,000 from HK$2,536,000 as of March 31, 2025[171] - The company reported a current investment in listed perpetual capital securities of HK$4,190,000, unchanged from the previous period[171] Employee and Management Compensation - Compensation to key management personnel, representing the Directors, was disclosed but specific amounts were not provided in the summary[174] - Directors' fees increased to HK$312,000 for the six months ended 30 September 2025, compared to HK$234,000 for the same period in 2024[175] - Salaries decreased to HK$3,245,000 for the six months ended 30 September 2025, down from HK$3,417,000 for the same period in 2024[175] Future Outlook and Strategic Focus - The Company continues to explore opportunities for market expansion and new project acquisitions[9] - Future outlook includes a commitment to enhancing service offerings and maintaining competitive positioning in the E&M engineering sector[9] - The Group is actively expanding its service scope to include diversified E&M engineering services, such as fire services systems and plumbing[26] - The Group's focus remains on the supply, installation, and maintenance of MVAC systems and low voltage electrical systems[18]

摘要 截至二零二五年九月三十日止六個月（「期內」）及截至二零二四年九月三十日止六個月 （「過往期間」）： － 期內，本集團收入約為260,300,000港元（過往期間：180,700,000港元）。 － 期內，本公司擁有人應佔虧損約為16,200,000港元（過往期間：約13,800,000港元）。 － 董事會並不建議派付期內中期股息（過往期間：無）。 － 期內，每股虧損約為2.02港仙（過往期間：約1.72港仙）。 1 德萊建業集團有限公司 德萊建業集團有限公司（「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」）期內之未經審核業績連同過往期間之比較數字如下： 未經審核簡明綜合損益及其他全面收益表 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） | | 收入 | 5 | 260,341 | 180,671 | | 直接成本 | | (255,559) | (1 ...