Financial Performance - The company's revenue for the year ending December 31, 2025, reached RMB 616,014,000, a significant increase of 104.5% compared to RMB 301,434,000 in 2024[3] - Annual profit for 2025 was RMB 150,041,000, up 168.5% from RMB 55,854,000 in 2024[3] - The gross profit for the year was approximately RMB 224.1 million, an increase of about 114.4% compared to RMB 104.5 million in 2024, with a gross profit margin rising from approximately 34.7% to 36.4%[19] - The net profit attributable to shareholders for 2025 was RMB 150,041,000, compared to RMB 55,854,000 in 2024, reflecting a significant growth of 168.5%[48] - Basic earnings per share increased to RMB 0.41 in 2025 from RMB 0.15 in 2024, marking a 173.3% rise[48] - The company's pre-tax profit for the year ended December 31, 2025, was RMB 168,102,000, compared to RMB 62,860,000 for 2024, representing a significant increase of 167%[71] Asset and Equity Growth - The total assets increased to RMB 2,053,063,000 in 2025, compared to RMB 1,454,895,000 in 2024, reflecting a growth of 41.2%[3] - Total equity rose to RMB 1,633,306,000 in 2025, up from RMB 1,034,101,000 in 2024, indicating a strong capital position[50] - Non-current assets increased to RMB 1,226,918,000 in 2025 from RMB 1,207,492,000 in 2024, showing a slight growth[49] Production and Sales - Lead production increased by 160% to 9,530 tons in 2025, compared to 3,670 tons in 2024[4] - The production of metal concentrates increased due to a longer operational schedule, resulting in higher sales revenue[14] - The total revenue from the sale of colored metal concentrates was RMB 616.0 million, with zinc, lead, and copper contributing RMB 307.96 million, RMB 246.36 million, and RMB 61.70 million, respectively[15] - The company processed approximately 80,656 tons of externally sourced ore in 2025, leading to a significant increase in revenue from these sales[16] - The total sales revenue from externally sourced ore was RMB 134.38 million, a 2,134.5% increase compared to RMB 6.02 million in 2024[16] Costs and Expenses - The total sales cost increased by approximately 99.0%, aligning with the revenue growth due to increased production of colored metal concentrates[17] - The cost of raw ore increased by 1,693.1% to RMB 83.40 million, reflecting the rise in mining activities[18] - General, administrative, and other expenses were approximately RMB 43.4 million, a slight decrease of about 8.8% from RMB 47.6 million in 2024, mainly due to production delays[21] - The total depreciation and amortization expenses for the year ended December 31, 2025, amounted to RMB 68,928,000, up from RMB 46,351,000 in 2024, reflecting a 48% increase[72] Investments and Future Plans - The company invested approximately RMB 58.7 million in underground mine construction, which commenced operations in June 2025[5] - The new tailings storage facility is expected to be completed by 2026, with an investment of about RMB 39.6 million for construction and auxiliary facilities[5] - The company plans to enhance exploration activities, allocating approximately RMB 7.5 million for exploration and related assessments in the current year[5] - The company plans to enhance operational capabilities and seek quality acquisition targets to diversify its product portfolio and support rapid revenue and profit growth[13] Resource Estimates - The total mineral resource estimate for the Mongya project is 16,546,000 tons, with an average grade of 3.32% lead and 4.69% zinc[7] - As of December 31, 2025, the total mineral resource for the Pb12 deposit is 14,793 thousand tons with an average lead grade of 3.64% and zinc grade of 4.64%[8] - The Pb14 open-pit mine has a total ore reserve of 1,300 thousand tons, with lead grade at 0.67% and zinc grade at 4.87%[10] - The Pb12 underground mine has a total ore reserve of 10,503 thousand tons, with lead grade at 3.00% and zinc grade at 4.13%[11] - The estimated lead metal from the Pb12 deposit is 550.01 thousand tons, while zinc metal is 776.05 thousand tons[8] Financial Position and Liabilities - As of December 31, 2025, the company had cash and cash equivalents of approximately RMB 587.6 million, significantly up from RMB 142.2 million at the end of 2024[28] - The company had interest-bearing bank loans of approximately RMB 87.9 million as of December 31, 2025, with RMB 37.9 million due within one year[29] - The debt-to-asset ratio was approximately 5.4% as of December 31, 2025, down from about 6.3% in the previous year, primarily due to increased equity from funds raised during the IPO process[30] - The company’s total liabilities as of December 31, 2025, were RMB 247,690,000, compared to RMB 244,337,000 in 2024, showing a marginal increase[76] Corporate Governance - The company has established an audit committee to oversee financial reporting and compliance, enhancing corporate governance[45] - The company is engaged in the exploration, mining, production, and sales of non-ferrous metal concentrates, including lead, zinc, and copper[51] - The company will continue to assess the impact of the new International Financial Reporting Standards on its financial statements[56] Shareholder Matters - The company proposed a final cash dividend of RMB 0.102 per share, totaling RMB 50,000,000, subject to approval at the 2025 Annual General Meeting[44] - The company plans to hold its 2025 Annual General Meeting no later than June 30, 2026, to discuss key shareholder matters[43]

Financial Performance - Jiangsu New Vision Automotive Electronics Co., Ltd. reported preliminary financial performance for the year ending December 31, 2025[2] - The company’s financial results are available in the prospectus dated March 16, 2026, on the Hong Kong Stock Exchange website[3] Board of Directors - The board of directors includes executive directors Zhang Tao, Zhang Bo, and Fan Xin, along with non-executive and independent directors[3]

Financial Performance - Revenue for the fiscal year ending December 31, 2025, increased by 16.59% to MYR 133,494,690 compared to MYR 114,497,661 in 2024[2] - Operating profit rose by 4.25% to MYR 15,294,463 from MYR 14,670,835 year-over-year[2] - Net profit for the year increased by 24.29% to MYR 11,644,446, up from MYR 9,368,508 in the previous year[2] - Total revenue for the group in fiscal year 2025 was 133,494,690 Malaysian Ringgit, up from 114,497,661 Malaysian Ringgit in fiscal year 2024, representing a growth of 16.6%[21] - Basic and diluted earnings per share increased to MYR 1.08 from MYR 0.87[7] - The pre-tax profit for 2025 is reported at MYR 14,143,448, an increase from MYR 13,294,344 in 2024, representing a growth of approximately 6.4%[31] - Basic earnings per share for 2025 is MYR 1.08, up from MYR 0.87 in 2024, indicating a year-over-year increase of about 24.1%[32] - The company recorded a post-tax profit of approximately 11.64 million Malaysian Ringgit for the fiscal year 2025, an increase from 9.37 million Malaysian Ringgit in fiscal year 2024, primarily due to increased other income and reduced financial costs[47] Assets and Liabilities - Total assets increased to MYR 195,146,983, a rise of 13.38% from MYR 172,118,669 in 2024[9] - Total liabilities increased by 40.67% to MYR 63,826,960 compared to MYR 45,328,843 in 2024[9] - Total loans and borrowings have risen to MYR 31,841,522 in 2025 from MYR 22,110,712 in 2024, representing an increase of approximately 44.1%[36] - Trade receivables have increased to MYR 22,231,603 in 2025 from MYR 19,656,191 in 2024, marking a growth of about 13.2%[35] - Total inventory for 2025 stands at MYR 57,940,971, significantly higher than MYR 28,969,531 in 2024, reflecting an increase of approximately 100%[34] Income and Expenses - Other income for fiscal year 2025 was reported at 7,937,629 Malaysian Ringgit, significantly higher than 2,829,660 Malaysian Ringgit in fiscal year 2024[27] - The company’s selling and distribution expenses for fiscal year 2025 were approximately 6.55 million Malaysian Ringgit, an increase of about 1.58 million Malaysian Ringgit from approximately 4.97 million Malaysian Ringgit in fiscal year 2024[51] - Administrative expenses for fiscal year 2025 were approximately 13.67 million Malaysian Ringgit, up by about 3.22 million Malaysian Ringgit from 10.45 million Malaysian Ringgit in fiscal year 2024, mainly due to employee-related costs[52] - The group incurred finance costs of 1,260,862 Malaysian Ringgit in fiscal year 2025, a decrease from 1,506,360 Malaysian Ringgit in fiscal year 2024[28] - The income tax expense for fiscal year 2025 was 2,499,002 Malaysian Ringgit, compared to 3,925,836 Malaysian Ringgit in fiscal year 2024[28] Market and Product Performance - Revenue from coconut-related products for the fiscal year 2025 reached 123,304,771 Malaysian Ringgit, an increase of 16.9% from 105,487,055 Malaysian Ringgit in fiscal year 2024[21] - Revenue from coconut-related products in fiscal year 2025 was approximately 123.30 million Malaysian Ringgit, a 16.88% increase or 17.81 million Malaysian Ringgit from approximately 105.49 million Malaysian Ringgit in fiscal year 2024[48] - The cost of sales increased by approximately 23.04% or 19.65 million Malaysian Ringgit to about 104.94 million Malaysian Ringgit in fiscal year 2025, outpacing revenue growth due to rising coconut costs[47] Cash Flow and Capital Management - Cash and cash equivalents decreased by 21.12% to MYR 11,173,638 from MYR 14,164,790[3] - As of December 31, 2025, the group's cash and cash equivalents were approximately 11.17 million Malaysian Ringgit, a decrease of about 2.99 million Malaysian Ringgit from 14.16 million Malaysian Ringgit on December 31, 2024[63] - Loans and borrowings increased to approximately 31.84 million Malaysian Ringgit as of December 31, 2025, up by about 9.73 million Malaysian Ringgit from 22.11 million Malaysian Ringgit on December 31, 2024, primarily due to trade financing provided by banks[64] - The debt ratio was approximately 0.33 as of December 31, 2025, compared to 0.26 in 2024[65] - Capital expenditures for the fiscal year 2025 amounted to approximately 6.41 million Malaysian Ringgit, significantly higher than 1.74 million Malaysian Ringgit in fiscal year 2024[67] Management and Governance - The board consists of seven directors, including four executive directors and three independent non-executive directors[86] - The independent non-executive directors have confirmed their independence status according to Listing Rule 3.13[82] - The audit committee reviewed the group's consolidated performance for the fiscal year 2025, ensuring compliance with applicable accounting standards and disclosure requirements[83] - The independent auditor Forvis Mazars PLT agreed with the preliminary announcement data, aligning with the draft consolidated financial statements for fiscal year 2025[84] Employee and Operational Metrics - The group had 419 employees as of December 31, 2025, compared to 375 employees as of December 31, 2024[74] - The total compensation for key management personnel increased to MYR 2,623,049 in 2025 from MYR 1,865,087 in 2024, reflecting a rise of approximately 40.7%[43] Other Considerations - The company has not declared any final dividends for the fiscal year 2025, consistent with the previous year[33] - The board of directors resolved not to recommend any dividend for the fiscal year 2025, consistent with the previous year[71] - The group did not hold any significant investments as of December 31, 2025, and December 31, 2024[68] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the fiscal year 2025[69] - The group has no foreign exchange hedging policy but closely monitors foreign exchange risks and manages cash flow needs through foreign currency transactions[70] - There were no significant contingent liabilities as of December 31, 2025, and December 31, 2024[76] - The company recorded a net unrealized foreign exchange loss of MYR (6,057,944) in 2025, compared to a loss of MYR (2,017,759) in 2024, indicating a significant increase in losses[30] - The group identified a total impairment loss of 1,750,000 Malaysian Ringgit for the liquid production plant due to lower than expected utilization rates in fiscal year 2023[18] - The estimated recoverable amount for the liquid production plant was calculated using a discount rate of 10.8% for fiscal year 2024 and 12.0% for fiscal year 2025, with no impairment loss identified for the latter[19] - The company anticipates a gradual decline in coconut prices following a period of shortages, and will monitor market conditions to adjust pricing strategies accordingly[57] - The company maintains a strong capital base to ensure operational sustainability and investor confidence, with no changes in capital management methods for fiscal year 2025[61][62]

Financial Performance - For the fiscal year ending December 31, 2025, the revenue was approximately RMB 51.8 million, representing an increase of about 72.0% compared to RMB 30.1 million for the fiscal year ending December 31, 2024[3]. - Operating expenses for the fiscal year ending December 31, 2025, were approximately RMB 251.3 million, a decrease of about 56.6% from RMB 578.4 million for the fiscal year ending December 31, 2024[3]. - The loss before tax for the fiscal year ending December 31, 2025, narrowed to approximately RMB 245.5 million, a reduction of about 55.9% compared to RMB 556.4 million for the fiscal year ending December 31, 2024[4]. - Gross profit for the fiscal year ending December 31, 2025, was approximately RMB 33.4 million, compared to RMB 16.5 million for the fiscal year ending December 31, 2024[4]. - The basic and diluted loss per share for the fiscal year ending December 31, 2025, was RMB 0.53, improved from RMB 1.23 for the fiscal year ending December 31, 2024[4]. - The company reported a pre-tax loss of RMB (245,503,000) for 2025, an improvement from RMB (556,424,000) in 2024[19]. - Total loss and comprehensive loss are projected to decrease by 55.9% from RMB 556.4 million for the year ending December 31, 2024, to RMB 245.5 million for the year ending December 31, 2025[110]. Assets and Liabilities - Non-current assets totaled approximately RMB 807.9 million as of December 31, 2025, compared to RMB 827.6 million as of December 31, 2024[5]. - Current assets increased to approximately RMB 832.4 million as of December 31, 2025, from RMB 369.0 million as of December 31, 2024[5]. - The total equity as of December 31, 2025, was approximately RMB 1,370.3 million, up from RMB 956.7 million as of December 31, 2024[5]. - Total assets increased from RMB 1,196.6 million as of December 31, 2024, to RMB 1,640.3 million as of December 31, 2025[123]. - Total liabilities rose from RMB 239.9 million as of December 31, 2024, to RMB 270.1 million as of December 31, 2025, while the debt-to-asset ratio decreased from approximately 20.0% to 16.5%[123]. - Cash and cash equivalents increased significantly to approximately RMB 652.2 million as of December 31, 2025, compared to RMB 135.2 million as of December 31, 2024[5]. Inventory and Receivables - The total inventory increased to RMB 86,520,000 in 2025 from RMB 57,185,000 in 2024, representing a growth of approximately 51%[21]. - Trade receivables rose significantly to RMB 16,426,000 in 2025 from RMB 190,000 in 2024, indicating a substantial increase in sales activity[22]. - The company’s net value of trade receivables after impairment provisions was RMB 16,035,000 in 2025, compared to RMB 189,000 in 2024, highlighting improved collection efforts[22]. - Inventory rose by 51.3% from RMB 57.2 million as of December 31, 2024, to RMB 86.5 million as of December 31, 2025, primarily due to increased raw material needs[116]. - Trade receivables surged by 8,384.1% from RMB 0.2 million as of December 31, 2024, to RMB 16.0 million as of December 31, 2025, driven by stable sales performance of new products[117]. Research and Development - The company has successfully launched three self-developed innovative drugs, establishing a commercial product structure covering digestive and oncology fields[35]. - The company aims to build a globally competitive differentiated innovative drug pipeline, focusing on digestive, oncology, and NASH fields[36]. - The company’s research and development expenses for the year were RMB (8,748,000), down from RMB (21,965,000) in the previous year, indicating a reduction in R&D spending[15]. - The company is focusing on strategic investments in R&D and commercialization systems to drive future growth[39]. - The company has made significant progress in clinical development for key products, including the initiation of Phase I trials for XZP-7797 during the reporting period[40]. Market and Competition - The company faces increased competition and regulatory challenges in the Chinese biopharmaceutical industry, necessitating ongoing R&D investment and market adaptability[36]. - The company is actively expanding its commercial network to support the rapid growth of its core products and the subsequent launch of pipeline products[40]. - The company is focusing on expanding the indications for core products to cover more patient populations and indications[56]. - The company operates in a highly competitive pharmaceutical industry, facing rapid technological changes and potential competition from more advanced therapies developed by rivals[93]. Capital and Financing - The company issued 67,334,000 shares at a price of HKD 11.6 per share, raising approximately RMB 721,622,000, with net proceeds of RMB 591,715,000 after deducting issuance costs[33]. - The net proceeds from the global offering amount to HKD 679.9 million, with 62.1 million already utilized and 617.8 million remaining[138]. - 45% of the net proceeds (HKD 305.9 million) is allocated for core product development, including Anjiuwei®, XuanYueNing®, and XuanFeiNing®, expected to be fully utilized by the end of 2028[138]. - 20% of the net proceeds (HKD 136.0 million) is aimed at enhancing commercialization and marketing capabilities, with a timeline for full utilization by the end of 2026[138]. Corporate Governance and Compliance - The company has adhered to corporate governance codes and will continue to review and monitor its governance practices[147]. - The audit committee has reviewed the financial statements for the year ending December 31, 2025, and found them compliant with applicable accounting standards[151]. - The company will not declare a final dividend for the year ending December 31, 2025[156]. - The company has complied with the public float requirement of 24.96% of the total issued shares, excluding treasury shares[145]. Future Outlook - The company aims to focus on oncology and digestive disease areas, emphasizing commercialization, innovative R&D, and cost control as core objectives for 2026[86]. - The company plans to strengthen evidence-based medicine and expand sales channels for its product Anjiuwei®, with a focus on maintaining pricing stability and enhancing clinical recognition by 2026[88]. - The company will continue to explore the expansion of indications for its marketed products, with the approval of XuanYueNing® for HR+/HER2- advanced breast cancer treatment expected in March 2026, solidifying its leading position in the CDK2/4/6 inhibitor market[89].

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.8 per share (before tax), totaling RMB 1,393,588,068.80 based on a total share capital of 1,741,985,086 shares as of March 30, 2026[4]. - The total cash dividend for the year, including interim dividends, amounts to RMB 1,899,931,555.46, representing 31.90% of the net profit attributable to shareholders of the listed company[4]. - The company will not conduct a capital reserve transfer to increase share capital or issue bonus shares this year[4]. Financial Performance - The company's revenue for 2025 reached RMB 164.89 billion, representing a year-on-year increase of 13.63% primarily due to a 10.63% increase in sales of new energy vehicles[22]. - Gross profit for 2025 was RMB 44.32 billion, up 28.29% from the previous year[19]. - The pre-tax profit for 2025 was RMB 7.47 billion, reflecting a significant increase of 50.86% year-on-year, attributed to product structure adjustments and improved gross margins[22]. - Net profit attributable to the owners of the company for 2025 was RMB 5.96 billion, a slight increase of 0.18% compared to the previous year[19]. - The total assets of the company as of the end of 2025 amounted to RMB 143.91 billion, a 52.50% increase from the end of 2024[19]. - The company's net profit margin for 2025 was approximately 3.73%, reflecting improved profitability[22]. Research and Development - Research and development expenses increased to RMB 795.4 million in 2025, a rise of 42.4% compared to 2024[28]. - R&D investment increased to 12,512 million, a 77.4% year-on-year growth, with R&D personnel rising to 9,019, accounting for 41.1% of total staff[47]. - The company introduced the Magic Cube Technology Platform 2.0, enhancing R&D efficiency and supporting the development of smart electric vehicles[48]. - The company continues to focus on research and development in the new energy vehicle sector, which includes core components like batteries and chips[165]. Vehicle Sales and Deliveries - The company delivered 516,900 vehicles in 2025, with a year-on-year increase in delivery volume of 10.1%[28]. - The average transaction price of vehicles sold in 2025 was RMB 391,000, up 3.7% from the previous year[28]. - In 2025, the company achieved sales of 472,300 new energy vehicles, representing a year-on-year growth of 10.63%[69]. - Cumulative sales of new energy vehicles increased by 10.63% year-on-year, totaling 472,269 vehicles, while cumulative production rose by 10.31% to 473,735 vehicles[123]. Market Trends and Projections - From 2019 to 2025, the sales of high-end cars in China are expected to grow from 3.12 million to 4.15 million units, with a compound annual growth rate (CAGR) of approximately 5%[30]. - High-end new energy vehicle sales are projected to surge from 160,000 to 2.49 million units during the same period, achieving a CAGR of 58%[30]. - By 2025, the penetration rate of new energy vehicles in the high-end car market is anticipated to rise from 5% to 60%[30]. - The sales of traditional high-end fuel vehicles are expected to decline by approximately 46% by 2025, dropping to 1.66 million units[33]. Strategic Initiatives - The company aims to leverage its leading electric and intelligent technology to capture market share during a critical strategic window[33]. - The company is focusing on long-term brand building and marketing strategies to enhance its market presence in the high-end new energy vehicle segment[42]. - The company aims to achieve over 20% market share in the high-end new energy SUV segment by 2025, supporting its brand's high-end positioning and product line expansion[59]. - The company is accelerating its AI transformation, integrating AI into product development, manufacturing, and service systems to enhance decision-making and operational efficiency[52]. Operational Efficiency - The asset turnover rate for the company is projected to reach 1.38 by 2025, significantly higher than the average of 0.5 for traditional manufacturers[37][38]. - The company has established an integrated supply chain system to enhance efficiency and cost control[66]. - The company has completed the construction of 234 smart workshops, leading to an advanced intelligent maintenance service system[56]. Financial Health and Liabilities - The company's debt-to-equity ratio as of December 31, 2025, was 2.44, a substantial improvement from 6.93 as of December 31, 2024[107]. - The company's total liabilities rose by 24% from RMB 82,458.40 million to RMB 102,047.54 million[115]. - The company's current liabilities included trade and other payables amounting to RMB 78,071.99 million, which accounted for 54.25% of total liabilities[115]. Risk Management - The company has identified risks related to industry policy changes, market demand fluctuations, intensified competition, supply chain disruptions, and international economic and political conditions[1]. - The company will closely monitor industry policy changes and market demand fluctuations to mitigate risks and ensure sustainable development[160]. Environmental Commitment - The company emphasizes its commitment to environmental management and sustainable development across all operational aspects[170]. Corporate Governance - The independent directors confirmed that the recent asset purchases and restructuring comply with legal requirements and benefit the company and its shareholders[140]. - The company has implemented a strict external investment management system to ensure compliance with regulations and alignment with long-term strategic goals[142].

Ahsay Backup Software Development Company Limited 亞勢備份軟件開發有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8290） 截至二零二五年十二月三十一日止年度 之年度業績公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 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。有意投資者應了解投資於該等公司的 潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買 賣之證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高 流通量的市場。 香港交易及結算所有限公司及聯交所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。 本公告乃遵照香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」） 之規定而刊載，旨在提供有關亞勢備份軟件開發有限公司（「本公司」）的資料； 本公司的董事（「董事」）願就本公告的詳細資料共 ...

Revenue Growth - Revenue increased by 36.5% to RMB 709.2 million for the year ended December 31, 2025, compared to RMB 519.6 million in 2024, driven by a volume-driven sales strategy and increased revenue from foundry services [2]. - The company reported a net loss of RMB 62.2 million for the year ending December 31, 2025, down from a net loss of RMB 500.3 million for the previous year [60]. - Revenue from self-manufactured silicon carbide epitaxial wafers was RMB 522,528,000 in 2025, compared to RMB 484,423,000 in 2024, showing a significant growth [18]. - The revenue from other sales and services surged by 430.4% to RMB 186.7 million, up from RMB 35.2 million, mainly due to increased income from foundry services [46]. - The company’s revenue from mainland China accounted for 99.4% of total revenue, increasing from 91.4% in the previous year [45]. Cost Management - Cost of sales decreased by 35.6% to RMB 575.8 million in 2025 from RMB 894.0 million in 2024, primarily due to improved inventory management and increased sales volume of 6-inch and 8-inch silicon carbide wafers [3]. - The company reported a decrease in inventory from RMB 183,399,000 in 2024 to RMB 69,209,000 in 2025, a reduction of approximately 62.3% [30]. - Financing costs increased by 41.1% from RMB 34.6 million to RMB 48.7 million, primarily due to additional bank loans for construction and equipment purchases [57]. Profitability - Gross profit for 2025 was RMB 133.4 million, with a gross margin of 18.8%, a significant turnaround from a gross loss of RMB 374.4 million and a gross loss margin of 72.0% in 2024 [3]. - The company recorded a pre-tax loss of RMB 74.1 million in 2025, a substantial improvement from a pre-tax loss of RMB 589.2 million in 2024 [4]. - Other net income increased by 107.1% from RMB 13.4 million to RMB 27.7 million, mainly due to increased government subsidies [52]. Research and Development - Research and development expenses decreased by 2.3% to RMB 59.6 million in 2025 from RMB 61.0 million in 2024, attributed to lower raw material procurement costs and optimized management of R&D materials [3]. - The company will continue to invest in R&D to enhance product performance and technical barriers, including the development of thicker silicon carbide wafers for high-voltage applications [95]. Asset Management - Total assets increased to RMB 4.31 billion as of December 31, 2025, from RMB 2.35 billion in 2024, indicating significant growth in the company's asset base [9]. - The company’s property, plant, and equipment amounted to RMB 2,761.1 million as of December 31, 2025, an increase from RMB 2,338.7 million as of December 31, 2024, primarily due to the addition of construction in progress and equipment purchases to support capacity expansion [78]. - The company recorded a net current asset value of RMB 1,065.3 million as of December 31, 2025, compared to a net current liability of RMB 523.0 million as of December 31, 2024 [69]. Market Position and Strategy - The company maintained a strong market position as one of the largest manufacturers of self-produced SiC wafers in China, focusing on high-quality product development [40]. - The market for SiC wafers is stabilizing after a temporary oversupply in 2024, with a structural shift towards 8-inch wafers becoming a key trend for future industry development [41]. - The company is committed to maintaining its leading position in the silicon carbide wafer manufacturing market in China and driving the development of the third-generation semiconductor industry [96]. Future Outlook - In 2026, the demand for silicon carbide power semiconductors is expected to grow rapidly due to downstream industries such as new energy vehicles and photovoltaic applications [94]. - The company plans to invest in capital expenditures over the next five years to expand overall production capacity, particularly for the construction and equipment of the new ecological park production base in Dongguan [76]. - The company aims to deepen customer relationships and expand its global sales and marketing network, with plans to establish sales centers in Malaysia, Italy, and Japan [95]. Corporate Governance - The company has adopted high standards of corporate governance to protect shareholder interests and enhance corporate value [97]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2025, and found them compliant with applicable accounting standards [99].

Financial Performance - For the fiscal year ending December 31, 2025, the company reported a revenue of RMB 1,045,859,000, representing a 31.0% increase from RMB 798,666,000 in 2024[5]. - Gross profit for the same period was RMB 376,226,000, up 39.1% from RMB 270,394,000, with a gross margin of 36.0%, an increase of 2.1 percentage points from 33.9%[5][11]. - Adjusted net profit reached RMB 124,601,000, a significant increase of 194.9% compared to RMB 42,256,000 in the previous year, resulting in an adjusted net profit margin of 11.9%[5][11]. - The net profit for the year ending December 31, 2025, was RMB 411.2 million, a significant turnaround from a net loss of RMB 543.3 million for the year ending December 31, 2024[102]. - The group reported a pre-tax profit of RMB 240,309,000, a decrease from RMB 269,870,000 in the previous year[57]. - The pre-tax profit for the year 2025 was RMB 412,749,000, compared to a loss of RMB 546,573,000 in 2024[64]. - The basic earnings per share for 2025 was RMB 1.27, while the diluted earnings per share was RMB 0.27, compared to a basic loss per share of RMB 102.12 in 2024[68]. Revenue Breakdown - Revenue for the year ending December 31, 2025, is projected to reach RMB 1,045,859 thousand, a 31% increase from RMB 798,666 thousand in 2024[24]. - Revenue from services was RMB 968,535,000, up from RMB 756,169,000, indicating a growth of about 28% year-over-year[49]. - Revenue from product sales increased to RMB 77,324,000 from RMB 42,497,000, reflecting a growth of approximately 82%[49]. - The majority of revenue, RMB 1,021,564,000, was generated from the mainland China market, which accounted for about 98% of total revenue[49]. - Revenue from the confinement center business rose by 30.8% from RMB 687.5 million to RMB 899.3 million, driven by rapid expansion of store numbers and improved operational efficiency[85]. - Revenue from home care services grew by 36.7% from RMB 59.9 million to RMB 81.9 million, attributed to the deepening of the service network and increased customer scale[86]. Operational Expansion - The company achieved a comprehensive secondary sales conversion rate of 95.5% in postpartum care services, indicating strong customer retention and repeat business[8][10]. - The company has expanded its operations to 140 stores across 41 cities globally, maintaining its position as the leading postpartum care provider in Asia[8]. - The company is actively pursuing a global strategy, having successfully entered four overseas cities in 2025, enhancing its international presence and cultural influence[10]. - The group plans to expand its global presence, particularly in Europe and the Middle East, while consolidating operations in existing markets like Singapore and North America[21]. Technology and Innovation - The company is advancing its AI strategy with the launch of "Bella Doctor," an intelligent assistant aimed at enhancing care services and driving future revenue growth[9]. - The company launched the AI-driven "Bella Doctor" platform, enhancing service efficiency and customer engagement in the maternal and infant health sector[18]. - The implementation of AI technology is expected to optimize operational efficiency and enhance service delivery across nearly 150 offline stores[22]. Cost Management and Expenses - The adjusted marketing expense ratio decreased by 1.4 percentage points to 10.5%, while the adjusted management expense ratio also fell by 1.4 percentage points to 14.6%[13]. - Selling and distribution expenses increased by 16.0% from RMB 94.9 million to RMB 110.1 million, reflecting increased investment in brand promotion and sales team development[93]. - The group's labor costs rose by 42.4% from RMB 177.4 million to RMB 252.6 million, aligned with the expansion of the confinement center network and home care services[87]. - Administrative expenses decreased by 15.9% from RMB 216.8 million for the year ending December 31, 2024, to RMB 182.3 million for the year ending December 31, 2025, due to improved operational efficiency[94]. Financial Position - The total non-current assets increased to RMB 585,793 thousand in 2025 from RMB 351,049 thousand in 2024, reflecting significant investment in growth[26]. - The company has a total debt of RMB 178.1 million as of December 31, 2025, an increase from RMB 120.6 million in 2024[111]. - Cash and cash equivalents rose to RMB 549,645,000 in 2025, up from RMB 65,971,000 in 2024, with a notable increase in USD cash holdings to RMB 362,968,000[75]. - Trade receivables increased to RMB 50,304,000 in 2025 from RMB 15,860,000 in 2024, indicating significant growth in customer transactions[72]. Compliance and Governance - The company has adopted corporate governance codes and has complied with all relevant provisions since its listing date[118]. - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting standards and internal controls for the financial year ending December 31, 2025[122]. - The auditor, Ernst & Young, confirmed that the figures in the annual performance announcement align with the consolidated financial statements for the year[123]. Future Outlook - The market for family care services in mainland China is projected to reach RMB 805.3 billion by 2025, with a compound annual growth rate of over 16.0% expected for key segments[7]. - The group anticipates that the revenue contribution from full lifecycle services will continue to rise, driven by higher gross margins[21]. - The company aims to become a global leader in family care brands, leveraging AI technology to drive high-quality business development[19].

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 賴該等內容而引致之任何損失承擔任何責任。 中國銀行股份有限公司 BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） （「本行」） （股份代號：3988） 公告 董事會決議 本行董事會審計委員會已審議通過中國銀行2025年年度報告中的財務報告， 同意提交董事會。 詳情請查閱本行同日刊登在香港交易及結算所有限公司網站 ( www.hkexnews.hk )和本行網站( www.boc.cn )的有關內容。 1 二、中國銀行2025年年度第三支柱信息披露報告 贊成：16 反對：0 棄權：0 本行於2026年3月30日在北京以現場表決方式召開董事會會議，會議通知於2026 年3月16日通過書面及電子郵件方式送達至本行所有董事。本次會議由董事長葛 海蛟先生主持，會議應出席董事16名，親自出席董事15名。執行董事劉進先生因 其他重要公務未能親自出席會議，委託執行董事蔡釗先生代為出席並表決。高級 管理層成員列席了會議。會議 ...

Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 460,281,000, a decrease of 16.5% from RMB 551,062,000 in 2024[3] - Gross profit for 2025 was RMB 68,536,000, down 35.5% from RMB 106,227,000 in 2024[3] - Operating profit decreased to RMB 23,971,000 in 2025, a decline of 38.2% compared to RMB 38,828,000 in 2024[4] - Net profit for the year was RMB 7,639,000, down 21.5% from RMB 9,709,000 in 2024[4] - Revenue from telecommunications infrastructure services was RMB 418,057,000 in 2025, down 12.0% from RMB 474,822,000 in 2024[15] - Revenue from digital solutions services decreased by RMB 27.2 million to RMB 13.2 million, mainly due to a reduction in the number of software solution projects[62] - The company's profit before tax decreased from RMB 23.5 million to RMB 3.6 million, primarily due to the revenue decline[73] Expenses and Costs - Research and development expenses were RMB 16,122,000 in 2025, a reduction of 37.5% from RMB 25,729,000 in 2024[3] - The company's financing costs rose to RMB 20,358,000 in 2025, up 33.2% from RMB 15,325,000 in 2024[4] - Administrative expenses decreased from RMB 26.1 million to RMB 14.5 million, a reduction of RMB 11.6 million, attributed to lower professional service and consulting fees[69] - The total employee cost during the reporting period was RMB 20.6 million, a decrease from RMB 26.7 million in 2024, with the number of employees reduced to 189 from 218[92] Assets and Liabilities - The company reported a significant increase in contract assets, rising to RMB 1,181,365,000 in 2025 from RMB 961,682,000 in 2024, an increase of 22.9%[5] - Total assets increased to RMB 1,399,973,000 in 2025, compared to RMB 1,309,068,000 in 2024, reflecting a growth of 6.9%[5] - Trade and other receivables totaled RMB 154,313,000 in 2025, down from RMB 208,780,000 in 2024[37] - Total bank borrowings as of December 31, 2025, amounted to RMB 565,049,000, up from RMB 373,476,000 in 2024, representing a 51% increase[51] - The book value of assets pledged for bank loans and financing was approximately RMB 1,168.9 million as of December 31, 2025, up from RMB 991.6 million as of December 31, 2024[89] Cash Flow - The cash used in operations for 2025 was RMB (231,736,000), compared to RMB (97,564,000) in 2024, indicating a worsening cash flow situation[43] - The net cash used in operating activities during the reporting period was approximately RMB 246.4 million, primarily due to a pre-tax profit of approximately RMB 3.6 million and adjustments for non-cash and non-operating items totaling approximately RMB 42.7 million[77] - The net cash generated from financing activities was approximately RMB 148.5 million, mainly attributed to bank borrowings of approximately RMB 564.4 million and repayments of bank borrowings of approximately RMB 373.0 million[78] Taxation - The company recognized a tax expense of RMB 4,026,000 in 2025, a decrease from RMB 13,794,000 in 2024, influenced by changes in tax provisions and deferred tax liabilities[24] - The company has applied for a preferential tax rate of 15% as a high-tech enterprise, maintaining eligibility since 2015, which impacts its tax liabilities positively[26] Market Presence and Future Plans - The company successfully listed on the Hong Kong Stock Exchange on July 3, 2024, enhancing its market presence[56] - The company plans to reassess the utilization of unutilized net proceeds and may modify the plans as market conditions change[99] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the annual performance and financial reporting matters for the year ended December 31, 2025[101] - The company has complied with the corporate governance code and has established an audit committee as per the relevant guidelines[101] - The company has confirmed compliance with the standard code for securities trading by all directors for the year ending December 31, 2025[96]