香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 PROSPEROUS INDUSTRIAL (HOLDINGS) LIMITED 其利工業集團有限公司 承董事會命 其利工業集團有限公司 主 席 楊樹堅 截至二零一八年至二零二一年十二月三十一日止年度的年報 的補充公佈 茲 提 述 其 利 工 業 集 團 有 限 公 司（「本公司」）截 至 二 零 一 八 年 至 二 零 二 一 年 十 二 月 三 十 一 日 止 年 度 的 年 報（「年 報」）。除 另 有 說 明 外，本 公 佈 所 用 詞 彙 與 年 報 所 界 定 者 具 有 相 同 涵 義。 本 公 司 謹 此 提 供 有 關 本 公 司 行 政 總 裁 楊 樹 雄 先 生 薪 酬 的 補 充 資 料 如 下： | | | | | | | | 截至十二月三十一日止年度 | | | | --- | --- | --- | --- | --- ...

Financial Performance - For the six months ended September 30, 2025, the group recorded unaudited revenue of approximately HKD 19,300,000, an increase of about HKD 7,700,000 or 66.4% compared to HKD 11,600,000 for the same period in 2024[9] - The loss attributable to owners of the company for the six months ended September 30, 2025, was approximately HKD 1,000,000, a significant improvement from a loss of HKD 6,400,000 for the same period in 2024[9] - Basic and diluted loss per share for the six months ended September 30, 2025, was HKD 0.04, compared to HKD 0.24 for the same period in 2024[9] - The group reported a gross profit of HKD 5,882,000 for the six months ended September 30, 2025, compared to HKD 8,128,000 in the same period of 2024[10] - Operating profit for the six months ended September 30, 2025, was HKD 184,000, a recovery from an operating loss of HKD 5,089,000 in the same period of 2024[10] - The group recorded a pre-tax loss of HKD 5,280,000 for the six months ended September 30, 2025, compared to a loss of HKD 6,398,000 for the same period in 2024, indicating an improvement in performance[37][40] - The group recorded a loss of approximately HKD 1,200,000 for the six months ending September 30, 2025, a reduction from a loss of approximately HKD 5,300,000 for the same period in 2024[80] Dividends and Shareholder Returns - The board of directors decided not to recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[9] - The group did not declare any dividends for the six months ended September 30, 2025, consistent with the previous year[42] Assets and Liabilities - Total assets less current liabilities as of September 30, 2025, were HKD (15,028,000), compared to HKD (13,850,000) as of March 31, 2025[13] - The group’s total liabilities increased to HKD 53,454,000 as of September 30, 2025, compared to HKD 30,341,000 as of March 31, 2025[13] - The company’s equity attributable to owners decreased to HKD (13,950,000) as of September 30, 2025, from HKD (12,998,000) as of March 31, 2025[16] - The group’s current liabilities exceeded total assets by approximately HKD 15,028,000 as of September 30, 2025[23] - The group reported accounts receivable of HKD 28,684,000, an increase from HKD 15,288,000 as of March 31, 2025, indicating improved sales or credit terms[48] Cash Flow and Financial Management - Cash and cash equivalents increased significantly to HKD 8,985,000 as of September 30, 2025, from HKD 300,000 as of March 31, 2025[13] - Cash and cash equivalents increased by HKD 8,701,000 during the reporting period, compared to a decrease of HKD 8,455,000 in the same period last year[20] - The company’s operating cash flow for the six months ended September 30, 2025, was HKD 135,000, down from HKD 596,000 in the previous year[20] - The group’s bank borrowings amounted to approximately HKD 4,293,000 as of September 30, 2025[23] - The total borrowings of the group as of September 30, 2025, were approximately HKD 4,500,000, down from HKD 5,000,000 as of March 31, 2025, with approximately HKD 4,300,000 in outstanding bank financing commitments[87] Operational Highlights - The group recorded segment revenue of HKD 19,293,000 from the distribution of food and beverages, with a segment profit of HKD 1,974,000[29] - The company has expanded its business scope to include online food sales and distribution, enhancing its market presence in the food and beverage sector[61] - The company is optimistic about the sales and distribution of food and beverage products in China, driven by a 5.3% GDP growth in the first half of 2025[60] - The company has established a wine supply department and is developing brewing formulas to become a recognized wine supplier in China[61] - The company is focused on enhancing its sales and distribution capabilities in the food and beverage sector through strategic acquisitions and partnerships[63] Cost Management - The cost of goods sold for the six months ended September 30, 2025, was HKD 13,411,000, up from HKD 3,465,000 in 2024, reflecting increased operational activity[37] - The group incurred total employee benefits expenses of HKD 1,777,000 for the six months ended September 30, 2025, a decrease from HKD 10,195,000 in 2024, suggesting a reduction in workforce or salary adjustments[37] - Employee costs decreased by approximately 82.4% to about HKD 1,800,000 for the six months ending September 30, 2025, from HKD 10,200,000 for the same period in 2024, with the number of employees reduced from 44 to 17[71] - Administrative expenses decreased by approximately 35.2% to about HKD 3,500,000 for the six months ending September 30, 2025, from HKD 5,400,000 for the same period in 2024[77] Strategic Acquisitions - The company completed the acquisition of a 55% stake in Nanjing Zerui Longxiang Supply Chain Management Co., Ltd., which provides platform services for product sales and distribution, aligning with the company's strategic plan for vertical integration[63] - The company has signed a share transfer agreement to acquire a 52% stake in Guizhou Yijinzhe Liquor Industry Co., Ltd., further expanding its portfolio in the liquor business[58] - The group has entered into an agreement to acquire 52% of Menghai Longpu Tea Industry Co., Ltd. for a nominal price of RMB 1, aiming to enhance its business operations in tea and related products[64] Governance and Compliance - The company has adopted high standards of corporate governance to maintain transparency and protect shareholder interests, complying with all applicable codes[106] - The stock option plan adopted on July 21, 2016, allows for the exercise of 60,000,000 shares at an exercise price of HKD 0.163, with 140,000,000 options available for grant as of the report date[117] - The Audit Committee, established on July 21, 2016, consists of three independent non-executive directors and is responsible for reviewing financial statements and internal control effectiveness[120] - The interim financial statements for the six months ending September 30, 2025, have been reviewed by the Audit Committee but not yet audited by external auditors[120] Risks and Challenges - The company faces risks related to labor costs in China, which may increase due to wage fluctuations[107] - The company reported significant reliance on reliable supply of ingredients and alcoholic beverages, with potential price volatility impacting costs[107] - The group’s operations are solely dependent on the sales and distribution of food and beverages in China, which may be subject to seasonal and other cyclical fluctuations[104]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 之 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部 或任何部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。 SOUTH CHINA FINANCIAL HOLDINGS LIMITED 南 華 金 融 控 股 有 限 公 司 – 1 – 王維新先生（「王先生」）自二零一六年五月三日起獲委任為行政總裁，其後自二零 一 七 年 三 月 二 十 八 日 起 獲 委 任 為 執 行 董 事 。 據 董 事 經 作 出 一 切 合 理 查 詢 後 所 深 知、盡悉及確信，王先生於二零一六財政年度擔任行政總裁之酬金如下： （於香港註冊成立之有限公司） （股份代號：00619） 有關截至二零一四年、二零一五年及二零一六年 十二月三十一日止財政年度年報之 補充公告 茲提述South China Financial Holdings Limited南華金融控股有限公司（「本公司」） 分別截至二零一四年十二月三十一日（「二零一四財政年度」）、二零一五年十二月 三 ...

Revenue Breakdown - For the six months ended September 30, 2025, the interior design and project management business accounted for 80.4% of total revenue[16] - Leasing activities generated 19.6% of total revenue for the six months ended September 30, 2025[17] - The agricultural products trading segment accounted for 0% of total revenue for the six months ended September 30, 2025, due to significantly increased costs[18] - For the six months ended September 30, 2025, the company reported revenue of RMB 6,146,000, a decrease of 63.0% compared to RMB 16,584,000 for the same period in 2024[44] - The company reported total revenue of RMB 6,146,000 for the six months ended September 30, 2025, with contributions of RMB 4,942,000 from Thailand and RMB 1,204,000 from China[80] Profit and Loss - The group's consolidated revenue for the six months ended September 30, 2025, was approximately RMB 6.1 million, a decrease of about 62.9% compared to RMB 16.6 million for the same period in 2024[19] - The consolidated gross profit for the six months ended September 30, 2025, was approximately RMB 5.2 million, down about 48.9% from RMB 10.1 million for the same period in 2024, with a gross margin of 84.2% compared to 61.1% in 2024[19] - The group recorded a profit before tax of approximately RMB 1.4 million for the six months ended September 30, 2025, down from RMB 3.0 million for the same period in 2024, primarily due to the recovery of the plywood business[20] - The company recorded a profit before tax of RMB 1,368,000 for the same period, with no income tax expenses reported[81] - The company reported a net loss of RMB 1,581,000, resulting in total comprehensive income of RMB 1,368,000[47] Cash Flow and Assets - As of September 30, 2025, the group's current assets were approximately RMB 31.3 million, down from RMB 36.3 million as of March 31, 2025[23] - The group's cash and cash equivalents decreased from approximately RMB 9.5 million as of March 31, 2025, to approximately RMB 0.1 million as of September 30, 2025, primarily due to the settlement of other payables and repayment of loans[23] - The company's cash and cash equivalents decreased significantly to RMB 122,000 from RMB 9,489,000, a drop of 98.7%[46] - Operating cash flow for the six months was negative at RMB (4,067,000), compared to a positive RMB 904,000 in the same period last year[49] - Total assets as of September 30, 2025, were RMB 93,995,000, down from RMB 99,408,000 as of March 31, 2025[46] Liabilities and Equity - As of September 30, 2025, the group's total borrowings were approximately RMB 29.1 million, down from RMB 34.4 million as of March 31, 2025[25] - The company has a net current liability of RMB 51,300,000, with current borrowings amounting to RMB 29,118,000, raising concerns about its ability to continue as a going concern[52] - The company's total equity increased to RMB 11,215,000 from RMB 9,847,000, indicating a growth of 13.9%[46] - The company's total liabilities included RMB (39,421,000) in plywood and related services, indicating a diversified liability structure across different segments[84] Business Operations and Strategy - The company is actively seeking opportunities to acquire or collaborate with other plywood companies that have higher profit margins and overseas networks[12] - The company is developing new wood products with higher profit margins compared to traditional plywood products[12] - The referral business, initiated in 2023, aims to create stable and profitable income sources beyond plywood sales[13] - The company is modernizing its production base in Heze City to potentially produce high-quality wood products for overseas customers[12] - The group plans to resume plywood production and sell products overseas to achieve higher profit margins, utilizing the factory's capacity effectively[27] Credit Risk Management - The concentration of credit risk in Thailand accounted for 69% of total receivables as of September 30, 2025, up from 54% as of March 31, 2025[67] - The expected credit loss provision for trade receivables was RMB 165,998,000 as of September 30, 2025, unchanged from March 31, 2025[72] - The expected loss rates for overdue trade receivables were 0.32% for those overdue within 6 months and 5.65% for those overdue over 1 year as of September 30, 2025[70] - The credit risk management policy ensures that credit terms granted to customers do not exceed 90 days, with ongoing assessments of their creditworthiness[63] - The total loss provision for trade receivables as of September 30, 2025, includes RMB 270,000 for overdue amounts and RMB 165,728,000 for individually assessed receivables[70] Administrative and Employee Costs - Total sales and distribution expenses and administrative expenses amounted to approximately RMB 3.1 million, a decrease from RMB 7.7 million for the same period in 2024[19] - The company reported employee costs, including director remuneration, of RMB 511,000 for the six months ended September 30, 2025, significantly lower than RMB 1,379,000 in the previous year[85] - Total compensation for key management personnel for the six months ended September 30, 2025, was RMB 166,000, a decrease of 67.4% from RMB 509,000 for the same period in 2024[102] Investment and Property - The company has changed its investment property measurement policy to fair value, which is expected to better reflect its operational performance[56] - Investment properties located in China are valued at RMB 51,900,000, remaining unchanged since March 31, 2025[100] - The total assets pledged as collateral amount to RMB 58,375,000 as of September 30, 2025, slightly down from RMB 58,494,000 as of March 31, 2025[100] Other Financial Information - The company did not declare any interim dividend for the six months ended September 30, 2025[40] - The company has no outstanding share options under the share option scheme as of September 30, 2025[38] - The company faced foreign exchange risks primarily due to fluctuations between RMB and HKD, but reported no significant impact on its operations during the reporting period[42] - The company has not recognized any deferred tax liabilities due to the expectation that its subsidiaries in China will not distribute retained earnings in the foreseeable future[88] - There were no major acquisitions or disposals of subsidiaries and associates during the six months ended September 30, 2025[30]

Revenue Performance - The group's revenue for the reporting period was approximately HKD 90.2 million, an increase of about 14.4% from HKD 78.8 million in the same period last year [6]. - Revenue from steel and metal engineering services increased by approximately HKD 13.7 million or 18.5% to about HKD 87.7 million [8]. - Revenue from the sale of steel and metal products decreased by approximately HKD 2.3 million or 47.9% to about HKD 2.5 million [9]. - Revenue for the six months ended September 30, 2025, was HKD 90,156,000, an increase of 14.5% compared to HKD 78,794,000 for the same period in 2024 [44]. - Revenue for the six months ended September 30, 2025, was HKD 90,156,000, an increase of 14.4% compared to HKD 78,794,000 for the same period in 2024 [56]. - Revenue from steel and metal engineering services was HKD 87,650,000, up 18.5% from HKD 74,016,000 in the previous year [56]. Financial Performance - The group reported a loss of approximately HKD 5.7 million for the reporting period, compared to a loss of approximately HKD 10.7 million in the same period last year [15]. - The company reported a loss before tax of HKD 5,592,000, an improvement from a loss of HKD 10,368,000 in the previous year, indicating a 46.1% reduction in losses [44]. - The company reported a loss attributable to shareholders of HKD 5,727,000 for the six months ended September 30, 2025, compared to a loss of HKD 10,661,000 for the same period in 2024 [64]. - Gross profit for the same period was HKD 372,000, representing a decrease of 11.0% from HKD 418,000 in 2024 [44]. - The company recorded a tax expense of HKD 135,000, which includes current and deferred tax liabilities [61]. Cash and Liquidity - As of September 30, 2025, the group's total cash and cash equivalents amounted to approximately HKD 45.8 million, up from HKD 31.1 million as of March 31, 2025 [16]. - Cash and cash equivalents increased to HKD 45,798,000 from HKD 17,116,000, showing a significant improvement in liquidity [50]. - Operating cash flow for the six months was HKD 29,728,000, a turnaround from a cash outflow of HKD 26,023,000 in the prior year [50]. - The unutilized proceeds have been deposited in licensed banks in Hong Kong and China as of September 30, 2025 [29]. Assets and Liabilities - Total assets decreased slightly to HKD 134,345,000 from HKD 137,851,000, reflecting a 2.0% decline [46]. - The company’s net assets amounted to HKD 138,075,000, down from HKD 144,508,000, a decrease of 4.5% [47]. - Trade receivables as of September 30, 2025, totaled HKD 15,938,000, a decrease from HKD 23,182,000 as of March 31, 2025 [67]. - Trade payables amounted to HKD 3,327,000 as of September 30, 2025, down from HKD 3,923,000 as of March 31, 2025 [68]. - The aging analysis of trade receivables shows that HKD 6,654,000 is overdue between 31 to 60 days, a significant decrease from HKD 18,678,000 as of March 31, 2025 [67]. - The company’s employee costs payable were HKD 11,644,000 as of September 30, 2025, slightly down from HKD 12,161,000 as of March 31, 2025 [68]. Corporate Governance - The company is committed to appointing a female director within three months following the resignation of a previous board member to comply with listing rules [35]. - The company has adhered to all applicable corporate governance code provisions during the reporting period [38]. - The audit committee, composed entirely of independent non-executive directors, reviewed and approved the financial statements for the reporting period [42]. - The company maintained its public float as per listing rules, ensuring compliance with regulatory requirements [41]. Dividends and Share Capital - The board has resolved not to declare an interim dividend for the reporting period [23]. - No dividends were declared or paid during the reporting period, consistent with the previous period where no dividends were issued [65][66]. - The total issued and paid-up share capital increased to 921,120,000 shares as of September 30, 2025, following the issuance of 153,520,000 shares at a subscription price of HKD 0.054 per share [72]. Other Financial Information - Direct costs for the group were approximately HKD 89.8 million, an increase of about 14.5% from HKD 78.4 million in the same period last year [11]. - Other income and gains increased from approximately HKD 0.1 million to about HKD 4.9 million, mainly due to the reversal of expected credit losses on long-aged trade receivables [14]. - Other income decreased to HKD 485,000 from HKD 644,000, primarily due to a drop in bank interest income [58]. - The company has not adopted any new accounting standards that would significantly impact its financial performance for the reporting period [55]. - The group operates under a fixed-price contract model, primarily serving construction companies and contractors in Hong Kong [56]. - The company has no significant contingent liabilities as of September 30, 2025 [22]. - The company has no unexercised share options remaining as of September 30, 2025, following the cancellation of 6,710,000 options [31]. - The company has a fixed-rate other loan of HKD 1,000,000 with an interest rate of 18%, due for repayment on April 23, 2026 [71].

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 34,935,000, compared to HKD 1,585,000 for the same period in 2024, representing a significant increase of 2,103%[8] - The company reported a profit of HKD 16,745,000 for the period, a turnaround from a loss of HKD 36,925,000 in the previous year[9] - Basic and diluted earnings per share for the period were HKD 4.04, compared to a loss per share of HKD 8.90 in the prior year[9] - The total comprehensive income for the period was HKD 15,198,000, which includes other comprehensive income of HKD 30,849,000[13] - The group reported a pre-tax loss of HKD 16,446,000 for the six months ended September 30, 2025, compared to a loss of HKD 37,133,000 in the same period of 2024[25] - The group recorded a net loss attributable to shareholders of HKD 16,746,000 for the six months ended September 30, 2025, compared to a profit of HKD 36,924,000 in the same period of 2024[26] Assets and Liabilities - Total non-current assets decreased to HKD 107,765,000 from HKD 203,670,000 as of March 31, 2025[10] - Current assets increased to HKD 1,217,954,000 from HKD 1,192,747,000, indicating a growth of 2.1%[11] - Total liabilities decreased from HKD 558,663,000 to HKD 462,767,000, reflecting a reduction of approximately 17.2%[11] - Net assets increased to HKD 852,952,000 from HKD 837,754,000, showing a growth of 1.4%[11] - The company had a total equity of HKD 1,258,645,000 as of September 30, 2025, down from HKD 1,320,847,000 in the previous year[13] - The total borrowings as of September 30, 2025, amounted to HKD 142,153,000, down from HKD 224,215,000 as of March 31, 2025, indicating a decrease of about 37%[35] Cash Flow and Financial Position - As of September 30, 2025, the company reported a net cash flow from operating activities of HKD 85,144,000, compared to a net cash outflow of HKD 8,517,000 for the same period in 2024[14] - The company experienced a decrease in cash and cash equivalents, with a net decrease of HKD 5,061,000 for the six months ended September 30, 2025, compared to a decrease of HKD 11,213,000 in the prior year[15] - The company has maintained a strong cash position with cash and bank balances of HKD 1,014,000 as of September 30, 2025[10] - The net debt as of September 30, 2025, was approximately HKD 408.5 million, down from HKD 489.9 million as of March 31, 2025, with a net debt to total equity ratio decreasing from 58% to 48%[57] Operational Insights - The company plans to continue its market expansion and product development strategies in the upcoming periods[8] - Future guidance indicates a focus on improving operational efficiency and exploring potential mergers and acquisitions to enhance growth prospects[8] - The company did not report any new bank borrowings for the six months ended September 30, 2025, compared to HKD 77,546,000 in the same period of 2024[15] - The company’s cash flow from investing activities was minimal, with only HKD 1,000 reported for the period[14] - The group did not generate any taxable profits in Hong Kong, resulting in no provision for Hong Kong profits tax[24] Shareholder Information - As of September 30, 2025, Mr. Jiang Ming holds 153,126,197 shares, representing 36.93% of the company's issued shares[65] - Mr. Lin Zhenxin holds 372,000 shares, contributing to a total of 153,126,197 shares held by CIH, which accounts for 37.02% of the company's issued shares[65] - Major shareholder Yang Xunxin owns 153,126,197 shares, equivalent to 36.93% of the company's issued shares[68] - Shenzhen Holdings Limited holds 63,109,285 shares, representing 15.22% of the company's issued shares[68] Corporate Governance - The company did not recommend the distribution of an interim dividend for the six months ending September 30, 2025[71] - The board of directors confirmed compliance with the standard code for securities trading throughout the period[70] - The company maintains high standards of corporate governance, regularly reviewing its governance practices to ensure compliance with regulatory requirements[69] - The board believes that the current structure, with Mr. Jiang serving as both Chairman and CEO, does not impair the balance of power and authority within the board[69] - The audit committee reviewed the accounting policies and practices, including internal controls and financial reporting matters[73]

Asia Cassava Resources Holdings Limited 亞洲木薯資源控股有限公司 (於開曼群島註冊成立之有限公司) (股份代號: 841) 目錄 2 公司資料 3-7 管理層討論及分析 8-12 補充資料 13-30 未經審核簡明綜合中期財務報表及附註 公司資料 董事 執行董事 朱銘泉先生 廖玉明女士 林靜芬女士 獨立非執行董事 崔志仁先生 洪思杰先生 Amporn Lohathanulert女士 法定代表 朱銘泉先生 沈成基先生 審核委員會 崔志仁先生（主席） 洪思杰先生 Amporn Lohathanulert女士 薪酬委員會 崔志仁先生（主席） 洪思杰先生 Amporn Lohathanulert女士 提名委員會 公司秘書 沈成基先生 洪思杰先生（主席） 崔志仁先生 Amporn Lohathanulert女士 網址 www.asiacassava.com 主要往來銀行 中國銀行（香港）有限公司 交通銀行（香港）有限公司 恒生銀行有限公司 Bangkok Bank Public Company Ltd. 中國農業銀行有限公司日照分行 開曼群島股份過戶登記總處 Butterfiel ...

Financial Performance - The company reported total revenue of HKD 359,858,000 for the year ending September 30, 2025, representing a 62.8% increase from HKD 221,212,000 in the previous year[5] - Gross profit for the same period was HKD 65,716,000, up 52.2% from HKD 43,158,000 in the prior year[5] - Operating profit for the year was HKD 17,906,000, a significant recovery from an operating loss of HKD 2,067,000 in the previous year[5] - The company recorded a net profit of HKD 778,000 for the year, compared to a net loss of HKD 10,766,000 in the previous year[5] - Total comprehensive income for the year was HKD 205,000, a recovery from a total comprehensive loss of HKD 8,171,000 in the previous year[6] - Revenue from the sale of natural gas for the year 2025 is HKD 334,791,000, a significant increase from HKD 205,113,000 in 2024[19] - The group reported a pre-tax consolidated profit of HKD 11,671 thousand for the year ending September 30, 2025, compared to a loss of HKD 8,703 thousand in 2024[28] - The segment profit for the gas business was HKD 36,940 thousand in 2025, compared to HKD 8,326 thousand in 2024, reflecting a significant improvement[24] Assets and Liabilities - Non-current assets increased to HKD 298,908,000 from HKD 281,309,000, reflecting growth in property, plant, and equipment[7] - Current assets rose significantly to HKD 89,207,000 from HKD 57,184,000, driven by an increase in trade receivables and prepayments[7] - Total liabilities decreased to HKD 149,410,000 from HKD 161,251,000, indicating improved financial stability[8] - The company's net asset value increased to HKD 123,867,000 from HKD 83,619,000, highlighting a stronger equity position[8] - The group's current liabilities exceed current assets by HKD 60,203,000 as of September 30, 2025[10] - Total liabilities for the group increased to HKD 264,248 thousand in 2025 from HKD 254,874 thousand in 2024, a rise of 4.5%[28] - The group’s total assets grew to HKD 388,115 thousand in 2025, compared to HKD 338,493 thousand in 2024, representing a growth of 14.7%[28] Cash Flow and Financing - The board has prepared cash flow forecasts for the next 18 months, indicating sufficient operating funds to meet current obligations[11] - As of September 30, 2025, the group has approximately HKD 21,023,000 in unused bank financing available for capital expenditures[11] - The total capital commitment of the group is HKD 13,861,000 as of the same date[10] - The company raised approximately HKD 40,000,000 from a rights issue, with net proceeds of about HKD 37,700,000 allocated for redeeming outstanding bonds and general operational funding[59] - The company has approximately HKD 21,023,000 in unused bank financing available for specific property, plant, and equipment construction[88] Shareholder Returns - The company did not recommend any dividend for the fiscal year ending September 30, 2025, consistent with the previous year[33] - The board does not recommend a final dividend for the year ending September 30, 2025, consistent with the previous year[64] Business Outlook and Strategy - Management anticipates a positive impact on the group's core businesses due to an orderly economic recovery in the coming year[65] - The gas business is expected to continue growing, benefiting from the expansion of the Yichang High-tech Zone and exclusive gas supply rights[66] - The rental business is projected to increase revenue due to stable economic development and rising infrastructure projects[67] - The group is adopting a cautious approach towards potential mergers, acquisitions, and expansions to maintain growth and profitability[67] - The company plans to negotiate with bondholders to extend the maturity date of the bonds[91] - The board believes that the group will have sufficient liquidity to meet operational needs for the next 18 months[92] Legal and Compliance - The group is currently facing legal proceedings related to a loan agreement, with a claim of HKD 2,400,000 for unpaid principal and interest[72] - The financial statements were prepared on a going concern basis, but the auditor could not obtain sufficient appropriate audit evidence to support this[90] Employment and Operations - As of September 30, 2025, the group employed 68 staff, an increase from 59 staff as of September 30, 2024[77] - The audit committee held two meetings during the year ending September 30, 2025, reviewing the group's financial performance and risk management systems[82] Other Financial Metrics - Interest income increased to HKD 23 thousand in 2025 from HKD 15 thousand in 2024, marking a growth of 53%[22] - Interest expenses decreased to HKD 5,925 thousand in 2025 from HKD 6,602 thousand in 2024, a reduction of 10.2%[31] - The group’s other income increased to HKD 418 thousand in 2025 from HKD 153 thousand in 2024, showing a growth of 173%[28] - The average number of ordinary shares for calculating basic and diluted loss per share was 74,121,000 in 2025, compared to 51,503,000 in 2024[34] - The basic and diluted loss per share improved to HKD (25.25) from HKD (30.36) in the previous year, indicating a reduction in losses per share[6]

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內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 截至二零二五年九月三十日止年度之 全年業績公告 中國新零售供應鏈集團有限公司 China Next-Gen Commerce and Supply Chain Limited （股份代號：3928） （於開曼群島註冊成立的有限公司） 中國新零售供應鏈集團有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈 本公司及其附屬公司（統稱「本集團」）截至二零二五年九月三十日止年度的經 審核綜合業績（「全年業績」），連同截至二零二四年九月三十日止年度的比較 數字。 – 1 – 綜合損益及其他全面收入表 截至二零二五年九月三十日止年度 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 新元 | 新元 | | 收益 | | | | | 服務 | 4 | 61,114,278 | 55,467,476 | | 租金 | 4 | 542,908 | 506 ...

Financial Performance - Total revenue for the year ended August 31, 2025, reached RMB 3,960.34 million, a 6.1% increase from RMB 3,732.07 million in 2024[20]. - Adjusted net profit for 2025 was RMB 705.81 million, reflecting a slight increase of 1.2% compared to RMB 693.18 million in 2024[20]. - Total assets decreased to RMB 21,997.20 million in 2025 from RMB 22,281.52 million in 2024, a decline of 1.3%[22]. - Total liabilities decreased to RMB 12,415.06 million in 2025, down 5.4% from RMB 13,127.02 million in 2024[22]. - The company reported a net profit of RMB 386.68 million for 2025, down from RMB 613.09 million in 2024, indicating a decline of 37.0%[44]. - The group's cash and bank balances totaled RMB 3,291.59 million as of August 31, 2025, compared to RMB 3,100.75 million the previous year[57]. - The net debt-to-equity ratio improved from 1.5% as of August 31, 2024, to -4.9% as of August 31, 2025, due to higher cash and cash equivalents[61]. - The debt-to-equity ratio decreased to approximately 29.5% as of August 31, 2025, down from 35.4% the previous year[62]. Operational Efficiency - Lean management practices will be deepened to enhance operational efficiency and ensure healthy cash flow while controlling debt risks[17]. - The company is implementing a strategy to enhance operational capital management efficiency and strengthen control over interest-bearing liabilities[42]. - The company aims to optimize cost structures and improve management efficiency through technology, focusing on sustainable growth in global markets[41]. Recruitment and Partnerships - Over 1,100 teachers were recruited during the reporting period, with nearly 100 recognized as senior "dual-qualified" teachers[11]. - The company established nearly 100 new partnerships with enterprises, hosting 799 recruitment events that attracted 5,346 companies and offered over 306,000 job positions[12]. - The company held 799 recruitment events, attracting 5,346 participating companies and offering over 181,000 job positions[24]. - The average placement rate for graduates increased steadily compared to the previous year, with a 90% pass rate for students in employment guidance training[30]. International Strategy - The international strategy saw significant progress, with institutions like INTI International University rising to 509th in the QS World University Rankings and achieving the "Best Higher Education Group in Malaysia" award[13]. - The internationalization strategy has strengthened, with the Malaysian university ranking 509th in the QS World University Rankings for 2026[25]. - The company achieved a significant milestone in international education, with Malaysia's INTI International University ranked 509th globally and 122nd in Asia in the 2026 QS World University Rankings[31]. Technology Integration - The company plans to integrate new technologies such as AI, big data, and VR/AR into the educational process to enhance student problem-solving skills[15]. - The company aims to enhance the integration of artificial intelligence in education and training, aligning with national policies to foster innovation and talent development[27]. - The company plans to leverage technology integration, including AI and VR/AR, to enhance educational delivery and create immersive training environments[39]. Corporate Governance - The company has adhered to the corporate governance code and met the majority of the recommended best practices as of August 31, 2025[69]. - The company is focused on enhancing shareholder value through effective corporate governance and regular reviews of governance practices[69]. - The company has established a new investment strategy under the leadership of the newly appointed Chief Investment Officer, effective January 23, 2025[77]. Shareholder Information - The board of directors did not recommend a final dividend for the year ending August 31, 2025, due to funding arrangements[73]. - The company has approximately RMB 5,132 million available for distribution to shareholders as of August 31, 2025, which includes share premium reserves[115]. - The company does not recommend the distribution of a final dividend for the year ending August 31, 2025, due to funding arrangements[110]. Risk Management - The company faces risks related to the competitive landscape of private higher education in China, which may pressure pricing and profit margins[108]. - The company has implemented measures to mitigate various risks and uncertainties, as detailed in the corporate governance report[107]. - The company is subject to regulatory uncertainties regarding the registration of independent colleges as for-profit private schools under current legislation[108]. Compliance and Regulatory Issues - The company has complied with relevant laws and regulations, including the Companies Ordinance and the Securities and Futures Ordinance, regarding information disclosure and corporate governance[103]. - There were no significant non-compliance issues affecting the group's business and operations for the year ending August 31, 2025[103]. - The company has a strong focus on compliance with various laws and regulations in China, including the Foreign Investment Industry Guidance Catalog and the Education Law[103]. Employee and Teaching Staff - As of October 31, 2025, the total number of enrolled students was 287,808, a decrease from 291,264 in 2024, with undergraduate institutions increasing from 138,739 to 145,849[38]. - The company has approximately 13,500 teaching staff as of August 31, 2025[197]. - As of August 31, 2025, 32.9% of the total building area of the company's schools has not obtained property ownership certificates due to regulatory issues[190]. Property and Assets - The land held for property development in Sichuan Province has a book value of approximately RMB 304 million as of August 31, 2025, down from RMB 316 million as of August 31, 2024[113]. - The company has taken extensive measures to correct deficiencies in its properties and is actively following up on government approvals for necessary certificates[191]. - There are no known actual or potential lawsuits or claims against the company due to property deficiencies as of August 31, 2025[191].