Financial Performance - The company reported no cash dividends for the fiscal year ending December 31, 2025[9]. - Total revenue for 2025 was RMB 61,699.2 million, down from RMB 106,696.6 million in 2024, representing a decrease of approximately 42.1%[13]. - The net profit attributable to shareholders for 2025 was RMB 11,086.0 million, compared to RMB 9,618.4 million in 2024, indicating an increase of 15.3%[14]. - Interest income for 2025 reached RMB 9,769.1 million, an increase from RMB 8,302.6 million in 2024[13]. - The company's total expenditure for 2025 was RMB 72,084.2 million, down from RMB 112,503.0 million in 2024, a reduction of approximately 36%[14]. - The profit from continuing operations for the year was RMB 9,454.9 million, an increase of RMB 2,603.3 million or 38.0% compared to the previous year[38]. - The net profit attributable to shareholders reached RMB 11.086 billion, representing a year-on-year growth of 17% after excluding the impact of the financial leasing company[19]. - The average return on equity (ROAE) improved to 18.7%, an increase of 0.3 percentage points compared to the previous year[19]. - The average asset return rate was 0.93%, indicating a focus on improving operational efficiency and risk management[35]. Asset Management and Investments - The company’s core business includes the management of non-performing assets, asset management, and investment services[4]. - The company’s non-performing asset balance decreased by 22% compared to the beginning of the year, with the non-performing loan ratio dropping by 0.41 percentage points[19]. - New acquisitions of non-performing asset claims amounted to RMB 242.1 billion, a 35% year-on-year increase, maintaining a leading market share[29]. - The company’s equity in joint ventures and associates increased to RMB 279,447.7 million in 2025 from RMB 216,325.1 million in 2024, marking a growth of 29.2%[15]. - The total revenue for the distressed asset management segment in 2025 is RMB 69,410.5 million, accounting for 86.3% of total revenue, compared to RMB 95,355.7 million and 85.0% in 2024[92]. - The pre-tax profit for the distressed asset management segment increased by 121.5% to RMB 14,357.3 million in 2025, compared to RMB 6,480.9 million in 2024[93]. Corporate Structure and Governance - The company underwent a restructuring in 2012 and was officially renamed in January 2024[4]. - The company is subject to the regulations of the China Securities Regulatory Commission and the Hong Kong Stock Exchange[5]. - The company has strengthened its corporate governance system and internal control management, ensuring sustainable development and good returns for shareholders[189]. - The board of directors has reviewed and confirmed compliance with the Corporate Governance Code, adopting applicable best practices[190]. - The company revised its articles of association to enhance governance, including the removal of the supervisory board and adjustments to the responsibilities of the shareholders' meeting and board of directors[192]. Strategic Initiatives and Future Outlook - The company aims to establish itself as a benchmark in the non-performing asset industry and is developing a comprehensive management system for financial asset management[21]. - The company is focused on digital transformation and building a standardized business control system to enhance operational efficiency[21]. - The company aims to enhance its profitability significantly by 2025, with a focus on improving asset quality and capital efficiency[144]. - The company is committed to implementing proactive macro policies to stimulate domestic demand and optimize supply in 2026[147]. - The company is positioned to play a crucial role in financial rescue and counter-cyclical adjustments, supporting the real economy and expanding effective investments[148]. Risk Management - The group aims to enhance its comprehensive risk management system, focusing on risk control and asset quality management[131]. - The group is implementing the "Asset Quality 'Prevent Downward Migration'" plan to monitor and manage asset quality effectively[135]. - The group has established a comprehensive market risk management system, optimizing mechanisms for monitoring stock and interest rate risks[136]. - The group actively manages liquidity risk through centralized liquidity management and diversified financing channels[137]. - The group continuously enhances its credit risk management processes to improve asset quality and risk identification[135]. Management and Leadership - The current president, Li Zimin, has been in office since October 2022 and also serves as an executive director since January 2023[173]. - The company is expanding its management team to strengthen its operational and strategic initiatives, which may lead to improved performance metrics in the future[174][175]. - The management team is composed of experienced professionals with diverse backgrounds, which is anticipated to enhance the company's competitive edge in the market[173][176]. - The company is actively preparing for leadership transitions to ensure stability and continuity in its operations and strategic direction[172][178]. Shareholder Information - As of December 31, 2025, the total issued share capital of the company is 80,246,679,047 shares, with domestic shares accounting for 55.93% and H-shares for 44.07%[151]. - Major shareholders include the Ministry of Finance, CITIC Group, China Insurance Investment Fund, and China Life, all of which have been approved by financial regulatory authorities[190]. - Shareholders holding more than 10% of voting shares can propose the convening of an extraordinary shareholders' meeting[195]. - Shareholders holding more than 1% of voting shares can submit written proposals to be included in the meeting agenda[196].

Financial Performance - Revenue for the year ended December 31, 2025, was RMB 1,289,801 thousand, a decrease of 14.09% from RMB 1,501,510 thousand in 2024[3] - Gross profit for 2025 was RMB 253,255 thousand, with a gross margin of 19.64%, down from RMB 328,524 thousand and a gross margin of 21.88% in 2024[3] - Net profit for the year was RMB 50,723 thousand, a decline of 63.8% compared to RMB 140,425 thousand in 2024[3] - Basic and diluted earnings per share for 2025 were RMB 0.21, down from RMB 0.69 in 2024[3] - The group recorded a profit of RMB 50.723 million, a decrease of 63.88% compared to the same period in 2024[35] - Total revenue decreased by 14.10% from RMB 1,501,510 thousand in 2024 to RMB 1,289,801 thousand in the reporting period, mainly due to the impact of tariffs in 2025[43] Dividend Information - The board recommended a final dividend of RMB 0.03483 per share for the year ended December 31, 2025, compared to no dividend in 2024[3] - The company has proposed a dividend of RMB 0.03483 per share for the year ending December 31, 2025, totaling RMB 9,504,000, pending shareholder approval[21] - The proposed final dividend is subject to approval at the 2025 Annual General Meeting, with payment expected on July 24, 2026[82] - The company will withhold a 10% corporate income tax on dividends distributed to non-resident corporate shareholders[84] - Individual H-share holders will have a 10% personal income tax withheld if they are residents of Hong Kong, Macau, or countries with a tax treaty with China[85] Assets and Liabilities - Non-current assets increased to RMB 815,597 thousand in 2025 from RMB 688,378 thousand in 2024, reflecting a growth of 18.5%[6] - Current assets totaled RMB 1,139,474 thousand in 2025, compared to RMB 1,018,601 thousand in 2024, marking an increase of 11.8%[6] - Total liabilities increased to RMB 701,129 thousand in 2025 from RMB 629,994 thousand in 2024, an increase of 11.3%[7] - The company's net assets rose to RMB 1,123,052 thousand in 2025, up from RMB 926,211 thousand in 2024, representing a growth of 21.2%[7] Revenue Breakdown - Revenue from electrical household appliances was RMB 1,100,502 thousand in 2025, down from RMB 1,188,509 thousand in 2024, representing a decline of 7.4%[14] - Non-electrical household products revenue decreased to RMB 189,299 thousand in 2025 from RMB 313,001 thousand in 2024, a drop of 39.5%[14] - The proportion of revenue from core electrical home appliances increased to 85.32%, highlighting the resilience of the main business[37] Expenses - The company's reported a decrease in research and development expenses to RMB 30,317 thousand in 2025 from RMB 36,426 thousand in 2024, a reduction of 16.9%[5] - The group's administrative expenses increased by 14.26% year-on-year to RMB 127 million, impacting net profit during the reporting period[39] - Sales costs decreased by 11.63% from RMB 1,172,986 thousand in 2024 to RMB 1,036,546 thousand in the reporting period, primarily due to the reduction in overall revenue[47] - Financial costs increased from RMB 11,993 thousand for the year ended December 31, 2024, to RMB 15,922 thousand for the reporting period, primarily due to increased interest expenses from higher borrowings[54] Corporate Governance - The company has complied with all applicable corporate governance codes since its listing date[73] - The audit committee consists of three members, all independent non-executive directors, and has reviewed the financial statements for the reporting period[93] - The independent auditor has agreed that the financial data in the preliminary announcement is consistent with the audited financial statements approved by the board on March 30, 2026[94] Market and Strategic Developments - The group has accelerated its global production capacity layout, with new production bases in Indonesia and Thailand, marking a strategic shift from "product export" to "capacity export"[37] - The ongoing product innovation and market trend adaptation are crucial for capturing niche market opportunities[34] - The group aims to enhance supply chain resilience and mitigate geopolitical risks through localized operations and diversified global management capabilities[32] Shareholder Information - The company plans to hold the 2025 Annual General Meeting on June 18, 2026[88] - Share transfer registration will be suspended from June 15, 2026, to June 18, 2026, to determine eligibility for attending the AGM[89] - The company has proposed amendments to its organizational articles and corporate governance policies, which have been approved by shareholders[91]

JOLIMARK HOLDINGS LIMITED 映美控股有限公司 （於開曼群島註冊成立之有限公司） 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 對 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的任何損失承擔任何責 任。 （股份代號：2028） 二零二五年全年業績公告 綜合損益表 截至二零二五年十二月三十一日止年度 | | | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | --- | --- | | | | | 附 註 | 人民幣千元 | 人民幣千元 | | 收 入 | | | 3 | 143,420 | 149,737 | | 出售貨品成本 | | | 5 | (121,569) | (131,363) | | 毛 利 | | | | 21,851 | 18,374 | | 其他收入 | | | | 1,954 | 2,620 | | 銷售及推廣開支 | | | 5 | (21,945) | (27,123) | | ...

Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 787,734,000, representing a 0.7% increase from RMB 782,359,000 in 2024[6] - Gross profit increased by 19.9% to RMB 456,907,000, up from RMB 381,154,000 in the previous year[6] - Net profit for the year surged by 183.6% to RMB 331,578,000, compared to RMB 116,911,000 in 2024[6] - Total comprehensive income for the year amounted to RMB 325,477,000, significantly higher than RMB 118,448,000 in the previous year[7] - The adjusted net profit for the year ended December 31, 2025, was RMB 332.4 million, a significant increase from RMB 218.3 million in 2024, representing a growth of 52.3%[73] Revenue Segments - The media and arts higher education segment generated total revenue of RMB 728.1 million, reflecting an 8.5% year-on-year growth[6] - Revenue from media and arts higher education courses was RMB 577,130,000, up from RMB 494,629,000 in the previous year, indicating a growth of about 16.7%[18] - The total revenue for the media and arts higher education, vocational education, and international education segments reached RMB 728.1 million, representing an 8.5% year-over-year increase[45] - Revenue from media and arts higher education, vocational education, and international education segment rose by RMB 56.7 million (or 8.5%) to RMB 728.1 million, driven by increased undergraduate course revenue[58] Cash and Liquidity - Cash and cash equivalents, along with time deposits and structured deposits, totaled RMB 1,648.6 million as of December 31, 2025, up from RMB 1,306.2 million in 2024[6] - The current ratio as of December 31, 2025, was 251.4%, compared to 241.4% in the previous year[6] - The total equity as of December 31, 2025, was RMB 2,681,291,000, an increase from RMB 2,445,608,000 in 2024[9] Dividends - The proposed final dividend for the year is HKD 0.068 per share, an increase from HKD 0.03 per share for the year ended December 31, 2024[4] - The company declared a final dividend of HKD 0.03 per share for the year ended December 31, 2025, totaling approximately RMB 90,607,000, compared to RMB 90,338,000 in 2024[32] - The final dividend is subject to approval at the annual general meeting scheduled for May 29, 2026[94] Employee Costs - The total employee costs for 2025 amounted to RMB 196,219,000, a decrease from RMB 204,014,000 in 2024, reflecting a reduction of approximately 3.9%[30] - The total salary cost for the year ended December 31, 2025, was RMB 196.2 million, a decrease from RMB 204.0 million in 2024, indicating a reduction of 3.8%[85] - The total number of students as of December 31, 2025, reached approximately 30,785, reflecting a year-over-year growth of about 3.5%[42] Impairment and Losses - The company reported a net impairment loss of RMB 5,061,000 for trade receivables, a significant decrease from RMB 80,128,000 in 2024, indicating improved asset quality[25] - The group reversed credit impairment losses of RMB 4.7 million during the reporting period, compared to a credit impairment of RMB 79.6 million for the year ending December 31, 2024[47] - The company recognized a credit loss provision of RMB 240,749,000 for receivables, unchanged from 2024, indicating stable risk assessment[35] Future Plans and Strategies - The group plans to expand its media and arts education capacity, expecting a total of approximately 12,000 new students for the 2026/2027 academic year[52] - The group is collaborating with the University of East Anglia to establish a digital creativity institute, with a total capacity of 1,200 students approved by the Ministry of Education[52] - The group is actively responding to national strategies by implementing an AI and media arts education integration strategy, enhancing its educational offerings[55] Accounting and Reporting - The company anticipates that the implementation of new accounting standards will not have a significant impact on its financial performance, although the structure of the consolidated income statement is expected to change[15] - The new Hong Kong Financial Reporting Standards will come into effect on January 1, 2027, with early application permitted, and are expected to require retrospective application[15][17] - The company’s auditor, Deloitte, confirmed that the preliminary announcement aligns with the audited financial statements approved by the board[91] Miscellaneous - The company has not identified any single customer contributing more than 10% of total revenue for the fiscal years ending December 31, 2025, and 2024, indicating a diversified customer base[23] - The company has not issued, repurchased, or canceled any shares during the reporting period[40] - The company has not been involved in any significant litigation or arbitration proceedings during the reporting period[93]

Financial Reporting - Guangdong Huayan Robotics Co., Ltd. reported preliminary financial data for the year ending December 31, 2025, which will be available on the Hong Kong Stock Exchange and the company's website[3] - The annual report for the year ending December 31, 2025, is expected to be published by April 30, 2026, or earlier, depending on shareholder communication preferences[3] Governance Structure - The board of directors includes three executive directors, one non-executive director, and three independent non-executive directors, indicating a diverse governance structure[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 而引致的任何損失承擔任何責任。 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） Modern Chinese Medicine Group Co., Ltd. 現 代 中 藥 集 團 有 限 公 司 - 2 - 綜合財務狀況表 | | | 於12月31日 | | | --- | --- | --- | --- | | | | 2025年 | 2024年 | | | 附註 | 人民幣千元 | 人民幣千元 | | 非流動資產 | | | | | 物業、廠房及設備 | 10 | 195,330 | 184,983 | | 無形資產 | | – | 97 | | 使用權資產 | | 1,757 | 1,885 | | 長期資產預付款項 | | 14,340 | – | | 遞延稅項資產 | | 881 | 837 | | | | 212,308 | 187,802 | | 流動資產 | | | | | 存貨 | | 28,95 ...

Financial Performance - Revenue was approximately RMB 22,637 million, a decrease of about 12.1% compared to the same period in 2024[2] - The company reported a net loss of RMB 6,844,866 thousand for the year, compared to a net loss of RMB 5,498,452 thousand in 2024[8] - Operating loss was RMB 4,582,584 thousand, compared to an operating loss of RMB 2,651,927 thousand in the previous year[8] - The company reported a loss attributable to owners of approximately RMB 5,887 million for the year ending December 31, 2025, compared to a loss of RMB 5,761 million in the previous year, indicating an increase in losses[16] - Total revenue for the year ended December 31, 2025, was RMB 22,637,190, a decrease of 12.3% from RMB 25,757,351 in 2024[27] - The company reported a total annual loss of RMB (6,844,866) for 2025, compared to a loss of RMB (5,498,452) in 2024, reflecting a worsening financial position[28][29] - The basic loss per share attributable to owners was RMB 142.2 for the year ending December 31, 2025, compared to RMB 139.2 in the previous year[16] Assets and Liabilities - Total assets decreased from RMB 192,016,874 thousand in 2024 to RMB 168,536,168 thousand in 2025[6] - Total liabilities decreased from RMB 142,618,195 thousand in 2024 to RMB 128,381,471 thousand in 2025[7] - The company’s cash and cash equivalents decreased from RMB 6,103,770 thousand in 2024 to RMB 5,368,987 thousand in 2025[5] - The total borrowings as of December 31, 2025, were RMB 55,054,936, down from RMB 57,721,058 in 2024, indicating a reduction of approximately 2.9%[40] - The total cash balance of the group was approximately RMB 7,242 million as of December 31, 2025[16] - The total borrowings due within one year amount to RMB 34,223 million, while borrowings due after one year are approximately RMB 20,832 million[88] Revenue Sources - Rental income and income from commercial operations and residential property management services were approximately RMB 4,213 million, down by about 1.9% year-on-year[2] - Property sales contributed RMB 17,532,604 in 2025, down from RMB 20,543,711 in 2024, representing a decline of 14.6%[27] - Revenue from investment property rental was RMB 1,828,222 in 2025, slightly down from RMB 1,907,744 in 2024, a decrease of 4.1%[27] - The company’s external customer revenue for property management services was RMB 2,384,713 in 2025, nearly unchanged from RMB 2,386,694 in 2024[27] - The total segment income for the group in 2025 was RMB 23,103,323, down from RMB 26,234,179 in 2024, a decline of 12.0%[28][29] Debt and Restructuring - The company has outstanding debts that include approximately RMB 23,569 million of defaulted or cross-defaulted debts, including senior notes and corporate bonds[16] - A restructuring support agreement was signed on October 10, 2025, involving over 85.48% of the holders of the planned debts, aimed at addressing liquidity issues[17] - The group has approved a restructuring plan for domestic corporate bonds and asset-backed special plans as of January 2026[18] - The restructuring plan includes the proposed sale of Baolong Commercial Shares[19] Operational Strategy - The company plans to accelerate the development and sales of pre-sold and completed properties, aiming to recover outstanding sales proceeds and other receivables[18] - The group will continue to seek opportunities to sell stakes in certain project development companies to generate additional cash flow[18] - The company is focused on controlling administrative expenses and avoiding unnecessary capital expenditures to maintain liquidity[18] - The group aims to enhance its core competitiveness and market attractiveness by focusing on "extreme operations" and leveraging "content ecosystem + intelligent technology" as a driving force[68] Market and Industry Outlook - The real estate industry in China is gradually stabilizing, with policies aimed at supporting demand and easing restrictions on home purchases, contributing to a recovery in the market[55] - The group anticipates a transition in the real estate market from "stabilization" to "quality improvement and efficiency enhancement" in 2026[64] - The group will focus on debt restructuring and optimizing asset structure to create space for development in the real estate sector[66] Corporate Governance and Compliance - The external auditor confirmed that the consolidated financial statements for the year ended December 31, 2025, were prepared in accordance with applicable accounting standards[110] - The audit committee, composed of four independent non-executive directors, reviewed the audited consolidated annual results and found them compliant with applicable accounting standards[109] - The company has adopted corporate governance practices in line with the listing rules to enhance investor confidence[107] Employee and Operational Metrics - The total employee cost for the year ended December 31, 2025, is approximately RMB 1,424 million, with a total workforce of 7,446 employees, down from 8,152 employees in 2024[98] - The company has implemented a financing coordination mechanism to effectively support quality projects and alleviate liquidity pressure in the real estate sector[55]

Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 1,500,115, representing a 10.6% increase from RMB 1,356,885 in 2024[6] - Gross profit for the same period was RMB 616,858, up 10.8% from RMB 556,557 in 2024[6] - Profit before tax surged to RMB 155,037, a 99.5% increase compared to RMB 77,725 in 2024[6] - Net profit for the year reached RMB 130,103, reflecting a 101.0% increase from RMB 64,724 in 2024[6] - Adjusted net profit was RMB 145,229, an 81.2% increase from RMB 80,169 in 2024[6] - Adjusted EBITDA for the year was RMB 833,568, representing a 20.5% increase from RMB 691,733 in 2024[6] - Basic earnings per share for the year was RMB 0.25, up from RMB 0.11 in 2024[8] - The total comprehensive income for the fiscal year ending December 31, 2025, increased to RMB 130.1 million from RMB 64.7 million for the fiscal year ending December 31, 2024[90] Revenue Breakdown - Revenue from on-demand office IT integrated solutions, including equipment subscription services, was RMB 721,793,000, up from RMB 678,061,000 in 2024, reflecting a growth of 6.4%[23] - The office IT technology subscription service revenue increased to RMB 595,809,000, compared to RMB 510,120,000 in 2024, marking a growth of 16.8%[24] - Equipment sales amounted to RMB 170,444,000, a rise from RMB 157,620,000 in 2024, representing an increase of 8.3%[23] - The on-demand office IT solutions segment generated RMB 1,317.6 million in revenue for 2025, up 10.9% from RMB 1,188.2 million in 2024, due to improved sales strategies and increased customer subscriptions[72] - Equipment sales revenue for 2025 was RMB 170.4 million, an 8.1% increase from RMB 157.6 million in 2024, attributed to higher sales volume[73] Expenses and Costs - The sales cost for the fiscal year ending December 31, 2025, was RMB 883.3 million, a 10.4% increase from RMB 800.3 million in 2024, primarily due to rising costs in on-demand office IT solutions and equipment sales[75] - The sales cost of the on-demand office IT integrated solution was RMB 704.9 million, an increase of 10.9% from RMB 635.6 million for the fiscal year ending December 31, 2024, primarily due to increased depreciation costs from a higher number of devices[77] - The cost of equipment sales for the fiscal year ending December 31, 2025, was RMB 175.0 million, up 8.8% from RMB 160.9 million for the fiscal year ending December 31, 2024, mainly due to an increase in sales volume[78] - General and administrative expenses decreased by 30.4% to RMB 89.8 million for the fiscal year ending December 31, 2025, down from RMB 128.9 million for the fiscal year ending December 31, 2024, mainly due to reduced salary and rent expenses[83] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 3,906,846, compared to RMB 3,513,815 in 2024[10] - Total liabilities increased to RMB 2,565,791 from RMB 2,278,065 in 2024[12] - The company reported a current asset deficit of RMB 86,247,000 against current liabilities as of December 31, 2025, compared to a deficit of RMB 242,085,000 in 2024[21] - The company's total borrowings as of December 31, 2025, amounted to RMB 1,807.5 million, with a year-on-year increase of 15.2% from RMB 1,568.3 million in 2024[95] Customer Metrics - As of December 31, 2025, the company had 54,588 active customers, representing a year-over-year growth of 7.0%[48] - The number of serviced devices exceeded 1.59 million, reflecting a year-over-year growth of 15.9%[48] - The net cash retention rate for the on-demand office IT comprehensive solution increased by approximately 5 percentage points to 98%[48] - Active customer count increased to 54,588 in 2025, a growth of 7.0% from 51,024 in 2024[60] Research and Development - The company reported a decrease in research and development expenses to RMB 59,330 from RMB 69,108 in 2024[8] - The company has initiated a research and development plan for AI hardware, anticipating strong demand from small and medium enterprises for edge AI computing equipment[46] Corporate Governance and Compliance - The company has complied with all applicable provisions of the corporate governance code, except as noted[113] - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reporting and internal control systems[118] - The board believes that the current governance structure will not impair the balance of responsibilities between the board and management[115] Shareholder Actions - No dividends were paid or proposed to common shareholders for the year ended December 31, 2025, consistent with 2024[39] - The company repurchased a total of 22,746,500 shares for a total consideration of HKD 43,198,825, with the highest price per share at HKD 2.30 and the lowest at HKD 1.40[119] - The company has implemented a stock option plan approved by shareholders on February 25, 2022, with a total share limit of 57,798,986 shares, equivalent to 10% of the issued share capital at the time of the plan's adoption[108]

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 倚賴該等內容而引致的任何損失承擔任何責任。 MeiG Smart Technology Co., Ltd. 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 美格智能技術股份有限公司 （股份代號：3268） 截至2025年12月31日止年度之全年業績公告 財務摘要 截至2025年12月31日止年度，本集團實現營業收入人民幣37.47億元，同比增 長27.39%（2024年度：人民幣29.41億元）。 截至2025年12月31日止年度，本集團歸屬於母公司股東的淨利潤為人民幣1.43 億元，同比增長5.27%（2024年度：人民幣1.36億元）。 於2025年12月31日，本集團總資產為人民幣29.67億元，較年初增長7.52%（年 初：人民幣27.60億元）。 於2025年12月31日，本集團歸屬於母公司股東的淨資產為人民幣17.02億元， 較年初增長8.64%（年初：人民幣15.67億元）。 董事會建議公司2025年度利潤 ...

Financial Performance - For the fiscal year ending December 31, 2025, the company's revenue reached RMB 3,509.7 million, representing a 37.26% increase compared to RMB 2,557.0 million in 2024[4] - Gross profit for the same period was RMB 434.2 million, with a gross margin of 12.4%, up from RMB 301.0 million in 2024, reflecting a 44.25% increase[6] - The company reported a pre-tax loss of RMB 1,093.7 million, which is a 102.24% increase from a loss of RMB 540.8 million in 2024[4] - The adjusted net loss for the year was RMB 239.8 million, a 32% improvement compared to RMB 352.4 million in 2024[4] - The company reported a net loss of RMB 1,093,711,000 for the year, worsening from a loss of RMB 540,820,000 in 2024, indicating a significant increase in losses[68] - The basic loss per share for the year was RMB 7.69, compared to RMB 4.11 in 2024, indicating a decline in shareholder value[70] Revenue Breakdown - In 2025, the company's revenue from intelligent cockpit solutions reached RMB 3,509,726 thousand, representing 100% of total revenue, with domain controllers contributing RMB 3,022,534 thousand (86.1%)[14] - Revenue from smart cockpit solutions reached RMB 3,413.3 million, up 39.8% from RMB 2,441.4 million in the previous year, driven by a significant increase in delivery volume of smart cockpit domain controllers[33] - Revenue from AI software and cloud intelligent services was approximately RMB 95.1 million, showing continued deepening of AI technology applications in R&D and cloud services[7] - Revenue from connected services decreased to RMB 86.729 million in 2025 from RMB 110.228 million in 2024, a decline of 21.3%[81] - Revenue from mainland China was RMB 3,477.957 million in 2025, representing a 36.0% increase from RMB 2,556.897 million in 2024[89] Operational Highlights - The company delivered 1.3 million smart cockpit domain controllers in 2025, an increase of over 40% from the previous year, indicating strong market demand[6] - The company secured several high-end cockpit contracts in 2025, with production expected to start in 2026, enhancing its competitive position in the high-end market[8] - The company added 24 new project delivery points in 2025, with 20 being renewals from existing clients, demonstrating strong customer recognition of service quality[9] - The company made significant progress in its international business, with new partnerships and product deliveries expected in over 100 countries, including Australia and Southeast Asia[9] Research and Development - R&D expenses increased significantly to RMB 379,332 thousand in 2025, up from RMB 207,279 thousand in 2024, marking a substantial growth[11] - The company has applied for over 6,000 patents, with 1,909 granted patents as of December 31, 2025, including 1,039 invention patents[11] - The company’s R&D team consists of 709 experts, accounting for 33.7% of total employees, with 86.7% holding a bachelor's degree or higher[11] - Research and development expenses rose to RMB 379,332,000, up 83% from RMB 207,279,000 in 2024, reflecting the company's commitment to innovation[68] Strategic Initiatives - The company aims to become a provider of AI-driven automotive and mobile terminal solutions, focusing on AI technology layout, high-end market expansion, and global collaboration[20] - The company has signed a strategic cooperation framework agreement with Ping An Insurance to explore collaboration in "AI + Internet of Vehicles technology + insurance services"[22] - The company is actively advancing its AI-driven cloud intelligent applications, collaborating with leading model manufacturers to enhance service scenarios and expand its customer base[9] - The company is exploring strategic cooperation with SenseTime in the integration of AI large models in intelligent cockpit applications[25] Financial Position - Cash and cash equivalents increased to RMB 1,444.1 million as of December 31, 2025, from RMB 977.0 million as of December 31, 2024[54] - Total bank borrowings increased from RMB 1,595.5 million as of December 31, 2024, to RMB 2,182.1 million as of December 31, 2025, primarily to fund business expansion[57] - The debt-to-asset ratio decreased from 64.1% as of December 31, 2024, to 63.1% as of December 31, 2025[60] - The group did not declare any dividends for the year ending December 31, 2025, consistent with 2024[96] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2025, and confirmed compliance with applicable accounting standards and regulations[111] - Deloitte has agreed that the preliminary financial figures for the year ending December 31, 2025, are consistent with the audited consolidated financial statements to be approved on March 30, 2026[112] - The annual performance announcement and report for the year ending December 31, 2025, will be published on the Hong Kong Stock Exchange and the company's website at an appropriate time[113]