Financial Performance - For Q3 2025, the company reported operating revenue of RMB 144,408 million, an increase of 24.6% compared to Q3 2024[6] - The total profit for Q3 2025 reached RMB 27,887 million, reflecting a significant growth of 85.7% year-over-year[6] - Net profit for Q3 2025 was RMB 17,815 million, up by 35.2% from the same period last year[6] - The net profit excluding non-recurring gains and losses for Q3 2025 was RMB 17,868 million, representing a 35.6% increase year-over-year[6] - The basic earnings per share for Q3 2025 was RMB 1.85, up by 35.2% compared to Q3 2024[6] - The company reported a net profit of RMB 34.57 billion, reflecting a year-on-year growth of 19.3%[14] - Net profit attributable to shareholders of the parent company was RMB 45,700 million, up 19% from RMB 38,310 million in the previous year[31] - Net profit for the first nine months of 2025 was RMB 11,875 million, up 12.94% compared to RMB 10,514 million in the same period of 2024[38] Revenue and Premiums - In the first three quarters of 2025, the company achieved insurance service revenue of RMB 216.894 billion, a year-on-year increase of 3.6%[14] - The scale premium for the life insurance segment reached RMB 263.863 billion, up 14.2% year-on-year[19] - The bancassurance channel achieved scale premiums of RMB 58.310 billion, a significant increase of 63.3% year-on-year[19] - The company’s property insurance segment reported a premium income of RMB 160.206 billion, a slight increase of 0.1% year-on-year[22] - The motor vehicle insurance premium income was RMB 80.461 billion, reflecting a year-on-year growth of 2.9%[22] Assets and Liabilities - The company's total assets as of September 30, 2025, were RMB 3,077,640 million, an increase of 8.6% from the end of 2024[6] - Total assets as of September 30, 2025, amount to RMB 3,077,640 million, up from RMB 2,834,907 million as of December 31, 2024[30] - Total liabilities as of September 30, 2025, are RMB 2,761,927 million, compared to RMB 2,516,426 million at the end of 2024[30] - Insurance contract liabilities rose to RMB 2,463,651 million from RMB 2,229,514 million year-over-year[30] - The company's equity attributable to shareholders decreased to RMB 284,185 million from RMB 291,417 million as of December 31, 2024[30] Cash Flow and Investments - The net cash flow from operating activities for the first nine months of 2025 was RMB 169,397 million, a 31.6% increase year-over-year[9] - Cash inflow from investment activities totaled RMB 570,493 million, while cash outflow was RMB 729,181 million, resulting in a net cash flow of RMB -158,688 million from investment activities[34] - The company issued bonds, generating cash inflow of RMB 14,242 million, contributing to its financing activities[34] - Cash flow from investing activities generated a net inflow of RMB 13,295 million in the first nine months of 2025, compared to RMB 10,339 million in the same period of 2024[40] Investment Performance - The company’s investment assets totaled RMB 2,974.784 billion, an increase of 8.8% from the previous year[23] - The total investment return rate was 5.2%, up 0.5 percentage points year-on-year[23] - Net investment return rate for the nine months ended September 30, 2025, is 2.6%, a decrease of 0.3 percentage points compared to 2024[24] - Investment income surged to RMB 39,228 million, a significant increase from RMB 14,595 million in the same period last year[31] - Investment income increased to RMB 11,242 million in the first nine months of 2025, a 16.86% rise from RMB 9,617 million in the same period of 2024[38] Shareholder Information - The company recorded a total of 102,000 shareholders at the end of the reporting period, with 98,287 being A-share shareholders[11] Other Financial Metrics - The weighted average return on equity for Q3 2025 was 6.3%, an increase of 1.4 percentage points compared to the previous year[6] - The company maintained a comprehensive underwriting cost ratio of 97.6%, a decrease of 1.0 percentage point year-on-year[20] - The company reported a fair value change gain of RMB 870 million in the first nine months of 2025, compared to RMB 790 million in the same period of 2024[38] - The company experienced a decrease in foreign exchange losses, reporting a loss of RMB 111 million compared to RMB 254 million in the previous year[31] - The company emphasizes the importance of monitoring solvency information, which is available on various stock exchange websites[25]

（於開曼群島註冊成立的有限公司） （股份代號：2358） | | | 目錄 二零二四╱二零二五年報 02 公司資料 董事 執行董事 陳雲翔先生 劉冰婕女士（於二零二五年三月六日獲委任） 嚴振東先生（於二零二五年三月六日獲委任） 陳珊女士（於二零二五年三月六日辭任） 獨立非執行董事 陳征先生 黃志堅先生 華能東先生 管理層討論及分析 03 董事及高級管理人員簡介 11 企業管治報告 14 董事會報告 32 獨立核數師報告 41 綜合損益及其他全面收益表 45 綜合財務狀況表 46 綜合權益變動表 48 綜合現金流量表 49 綜合財務報表附註 51 五年財務概要 130 黃志堅先生 （主席） 陳征先生 華能東先生 提名委員會 陳雲翔先生 （主席） 劉冰婕女士（於二零二五年三月六日獲委任） 華能東先生 陳征先生 黃志堅先生 薪酬委員會 審核委員會 陳征先生 （主席） 黃志堅先生 華能東先生 註冊辦事處 Cricket Square, Hutchins Drive P.O. Box 2681 Grand Cayman, KY1-1111 Cayman Islands 總辦事處及香港主要營業地點 香港 灣仔 港灣道1號 ...

Financial Performance - Total operating revenue for the year reached RMB 28.54 billion, a 50.2% increase from RMB 19.04 billion in the same period last year[14]. - Operating profit increased to RMB 1.29 billion, up 176.0% from RMB 466.44 million year-on-year[14]. - Net profit attributable to the parent company was RMB 684.60 million, a significant rise of 279.5% compared to RMB 180.32 million in the previous year[15]. - The company reported a total profit for the year reached RMB 1.30 billion, a 173.4% increase from RMB 474.83 million in the same period last year[14]. - The company reported a net profit margin improvement, with retained earnings rising to RMB 2.05 billion from RMB 1.36 billion, an increase of about 50.2%[11]. Assets and Liabilities - As of September 30, 2025, the total assets of the company amounted to RMB 138.09 billion, an increase from RMB 122.47 billion at the beginning of the year, representing a growth of approximately 12.7%[11]. - The company's current assets totaled RMB 43.25 billion, up from RMB 35.61 billion at the beginning of the year, indicating a growth of about 21.5%[9]. - The total liabilities increased to RMB 88.11 billion from RMB 74.31 billion, reflecting a rise of approximately 18.6%[11]. - The company's cash and cash equivalents decreased to RMB 11.68 billion from RMB 12.44 billion, a decline of about 6.1%[9]. - Total cash and cash equivalents at the end of the period amounted to RMB 9.25 billion, an increase from RMB 6.19 billion at the end of the same period last year[19]. Borrowings and Financing - Short-term borrowings rose significantly to RMB 19.90 billion from RMB 15.81 billion, marking an increase of approximately 25.5%[9]. - The company issued two tranches of medium-term notes with a total registration amount of RMB 5 billion, valid for two years[4]. - Cash flow from financing activities netted RMB 8.31 billion, down from RMB 10.66 billion year-on-year[19]. Research and Development - Research and development expenses totaled RMB 1.47 billion, representing a 62.2% increase from RMB 904.09 million year-on-year[14]. Operating Costs - The company reported a total operating cost of RMB 27.09 billion, which is a 45.5% increase from RMB 18.61 billion year-on-year[14]. Market Strategy - The company plans to expand its market presence and invest in new product development, focusing on innovative technologies to enhance competitiveness[4]. Other Comprehensive Income - Other comprehensive income after tax was RMB 62.32 million, recovering from a loss of RMB 70.20 million in the previous year[15].

Financial Performance - For the six months ending August 31, 2025, CTR Holdings Limited reported revenue of 133,385 thousand SGD, a 44.7% increase from 92,208 thousand SGD in the same period of 2024[3] - Gross profit for the same period was 13,672 thousand SGD, up 58.5% from 8,630 thousand SGD year-over-year[3] - The company achieved a profit before tax of 8,209 thousand SGD, representing a 111.5% increase compared to 3,876 thousand SGD in the previous year[3] - Net profit for the period was 6,944 thousand SGD, which is a 115.5% increase from 3,223 thousand SGD in the prior year[3] - Total revenue for the six months ended August 31, 2025, was 133,385 thousand SGD, an increase of 44.7% compared to 92,208 thousand SGD for the same period in 2024[15] - Revenue for the six months ended August 31, 2025, was 8,209 thousand SGD, a 111% increase from 3,876 thousand SGD in 2024[22] - Basic earnings per share for the six months ended August 31, 2025, was 6,944 thousand SGD, compared to 3,223 thousand SGD in 2024, reflecting a significant increase[23] - The group's net profit for the period was approximately 6.944 million SGD, compared to 3.223 million SGD for the six months ended August 31, 2024[42] Assets and Liabilities - Total assets as of August 31, 2025, amounted to 144,032 thousand SGD, compared to 127,254 thousand SGD as of February 28, 2025[5] - Current assets increased to 117,944 thousand SGD from 101,692 thousand SGD, reflecting a growth of 15.9%[5] - The company's total liabilities rose to 75,402 thousand SGD from 67,053 thousand SGD, indicating an increase of 12.5%[6] - The equity attributable to the owners of the company increased to 66,663 thousand SGD from 60,201 thousand SGD, a growth of 10.8%[6] - Trade receivables as of August 31, 2025, amounted to 10,315 thousand SGD, down from 25,749 thousand SGD as of February 28, 2025[25] - Trade payables as of August 31, 2025, totaled 57,539 thousand SGD, up from 47,249 thousand SGD as of February 28, 2025[27] Revenue Sources - Revenue from structural engineering work was 115,444 thousand SGD, up from 83,578 thousand SGD, representing a growth of 38.1%[15] - Revenue from earthworks construction increased to 17,941 thousand SGD from 8,630 thousand SGD, marking a growth of 108.5%[15] - Major customer T contributed 83,241 thousand SGD in revenue, accounting for over 10% of total group revenue[13] - The group expects to recognize 171,863 thousand SGD in revenue within one year from contracts, compared to 165,243 thousand SGD in the previous year[17] Costs and Expenses - The group incurred construction costs of 119,713 thousand SGD, an increase from 83,578 thousand SGD in the previous period[20] - Employee benefits expenses, including salaries and bonuses, amounted to 3,738 thousand SGD, compared to 3,185 thousand SGD in the prior year[20] - Construction costs rose by approximately 43.2% from about 83.6 million SGD for the six months ended August 31, 2024, to about 119.7 million SGD for the six months ended August 31, 2025[34] - The group's administrative expenses increased by approximately 0.7 million SGD to about 6.5 million SGD for the six months ended August 31, 2025[38] - Financial costs rose from about 5,000 SGD to about 9,000 SGD, an increase of approximately 80% due to the repayment of lease liabilities[40] - Income tax expenses increased by approximately 0.6 million SGD or 93.8% to about 1.3 million SGD, attributed to higher taxable profits during the period[41] Operational Insights - The company is engaged in structural engineering and masonry construction, with a focus on expanding its market presence[7] - Future strategies include potential new product development and market expansion initiatives to enhance overall performance[7] - The group operates primarily in Singapore, with 100% of total revenue generated from this region[14] - The company maintains a strong cash flow position, enabling it to compete effectively for more structural engineering and construction projects[32] - The company is facing industry challenges such as labor shortages and rising costs but is leveraging its strong reputation and expertise to navigate these issues[32] - The economic outlook for Singapore, particularly in the construction sector, remains resilient despite global uncertainties[32] Employee and Governance - The group employed a total of 430 employees in Singapore as of August 31, 2025, with 18.4% being Singapore citizens and 81.6% foreign workers[55] - The company regularly reviews employee performance and adjusts salaries as necessary[56] - The company aims to mitigate the impact of foreign worker shortages by hiring from multiple countries, including China, Bangladesh, India, Myanmar, Vietnam, and the Philippines[55] - The company has adopted a share option plan approved by shareholders on November 22, 2019, to incentivize eligible participants for their contributions to the group[60] - The audit committee reviewed the group's unaudited interim results for the six months ended August 31, 2025, and found no disagreements regarding the accounting policies adopted[63] - The company has adhered to the corporate governance code, with the exception of the separation of roles between the Chairman and the CEO[59] Dividends and Investments - The company did not declare any dividends for the six months ended August 31, 2025[24] - The company does not recommend the payment of an interim dividend for the six months ended August 31, 2025, compared to no dividend for the same period in 2024[58] - The group had no significant investments or acquisitions during the six months ended August 31, 2025[48] Contingent Liabilities and Events - The group reported contingent liabilities of 34.889 million SGD related to performance guarantees as of August 31, 2025[52] - There have been no significant events occurring after August 31, 2025, up to the date of this announcement[57]

Financial Performance - The net profit for the year ended 30 June 2025 was approximately HK$33.6 million, a significant recovery from a net loss of approximately HK$70.7 million in 2024[10]. - The Group's total revenue for the year was approximately HK$34.0 million, compared to approximately HK$31.3 million in 2024, representing an increase of about 8.6%[21]. - Basic earnings per share for the year was approximately 6.42 HK cents, compared to an adjusted basic loss per share of approximately 13.53 HK cents in 2024[21]. - The fair value gain for the year was approximately HK$35.1 million, compared to a fair value loss of approximately HK$41.5 million in 2024[21]. - The revenue growth rate for 2025 was approximately 12.8% higher than that of 2024, reflecting an active inbound tourism market in Japan[33]. Business Segments - The hotel hospitality business generated revenue of approximately HK$25.4 million, up from approximately HK$22.5 million in 2024, contributing approximately 75% of the Group's total revenue[22]. - The liquor and wine business revenue decreased to approximately HK$0.3 million from approximately HK$2.2 million in 2024, resulting in a segment loss of approximately HK$0.2 million[15]. - The money lending business recorded a segment loss of approximately HK$1.2 million, slightly higher than the loss of approximately HK$1.0 million in 2024[14]. Loans and Credit Management - As of 30 June 2025, the Group had loans receivable with a gross principal amount of approximately HK$146.9 million, unchanged from 2024, with related gross interest receivables increasing to approximately HK$95.4 million from approximately HK$82.2 million[11]. - The loan portfolio consists of loans to Independent Third Party borrowers with terms ranging from eight to twenty-four months and interest rates between 8% and 20% per annum, maintaining the same range as in 2024[40]. - The Group has engaged independent valuers to assess expected credit losses (ECL) of loans receivable, with ECL rates ranging up to 100% depending on the nature and probability of default[41]. - The Group has adopted a credit policy that includes compliance with laws, credit assessments of potential borrowers, and determining suitable interest rates based on risk levels[44]. - The Group maintains a diversified credit risk portfolio, ensuring that no loan exceeds 50% of the entire loan portfolio when aggregated with related parties[51]. Legal Proceedings - Legal proceedings against borrower A commenced in June 2021, with an amended writ filed in July 2025, but service has been unsuccessful[61]. - Legal proceedings against borrower B began in November 2019, with a judgment entered, but no enforcement action has been taken due to jurisdictional issues[62]. - Borrower C was ordered to be wound up by the High Court of Hong Kong on April 15, 2024, and the Board has engaged legal advisers to exercise creditor rights[62]. - The Group is assessing the conditions of guarantors for two outstanding loans secured by personal guarantees and may initiate legal proceedings against them[66]. Investments - Significant listed securities investments as of June 30, 2025, include holdings in CLP Holdings Limited valued at HK$14.41 million, representing 2.59% of total assets[83]. - The Group's investment in Tencent Holdings Limited is valued at HK$2.41 million, accounting for 0.43% of total assets[83]. - The Group's investment in China Mobile Limited is valued at HK$28.74 million, representing 5.17% of total assets[83]. - The Group's investment in China Construction Bank Corporation is valued at HK$23.76 million, accounting for 4.28% of total assets[83]. - The Group managed a portfolio of listed securities, with a total investment cost of HK$17.02 million in CLP Holdings Limited[83]. Corporate Governance - The Company has complied with the Corporate Governance Code except for the separation of roles between the chairman and chief executive, which has not been established since March 2020[137]. - The Board consists of five Directors, including one executive Director and three independent non-executive Directors[140]. - The Company has received annual confirmations of independence from all independent non-executive Directors, affirming their compliance with independence guidelines[142]. - The Board meets at least four times a year to oversee the Group's businesses and strategic decisions[148]. - The Company emphasizes effective internal control and accountability to enhance shareholder value[136]. Future Plans and Strategies - The Group is committed to a renovation project, with plans to select an architect by the end of September 2025 and commence works in the second half of 2025[36]. - The Group aims to diversify its business and seize investment opportunities amid inflationary pressures and geopolitical uncertainties[89]. - The Group's investment strategy includes a buy-and-hold approach, diversifying investments across different industries[85]. Employee and Management Information - As of June 30, 2025, the Group had approximately 28 employees, down from 37 in 2024[117][122]. - The Company does not have a Chief Executive Officer since the resignation of Mr. Chi Chi Hung, Kenneth in March 2020[159]. - Continuous professional development for directors is facilitated by the Company, covering statutory and regulatory updates[197].

Financial Performance - For the nine months ended September 30, 2025, the company's operating revenue was RMB 4,495,321 thousand, representing a 4.1% increase compared to RMB 4,316,818 thousand in the same period of 2024[3] - The company's gross profit for the same period was RMB 506,211 thousand, a decrease of 6.9% from RMB 543,513 thousand, resulting in a gross margin of 11.3%, down from 12.6%[3] - The net loss attributable to shareholders was RMB 14,684 thousand, a significant decline from a profit of RMB 36,910 thousand in the previous year, marking a 139.8% decrease[3] - In Q3 2025, the company achieved operating revenue of RMB 1,585,483 thousand and a net profit attributable to shareholders of RMB 20,386 thousand, reflecting increases of 4.1% and 282.1% year-on-year, respectively[7] Segment Performance - The processed food segment showed strong performance in Q3 2025, with revenue and gross profit increasing by 9.4% and 32.1% year-on-year, respectively[7] - For the first three quarters of 2025, the processed food business accounted for 46% of total revenue and 76.5% of total gross profit, making it the largest revenue and profit source for the company[8] - Feed business revenue and gross profit decreased by 2.9% and 17.2% year-on-year respectively in the first three quarters[10] - Meat business revenue increased by 8.8% year-on-year, but gross profit decreased by 35.5% compared to the same period last year[11] Strategic Initiatives - The company plans to invest in the third phase of its smart food factory in Bengbu to expand its food business scale and meet consumer demand for high-quality chicken products[7] - The company is focusing on cost reduction and efficiency improvement in its domestic food team to address increasing price competition, with gross margins gradually improving in Q3 2025[9] - The export team is actively expanding into the Japanese market and other international markets, optimizing product design and production processes to enhance product quality and safety standards[9] - The company is focusing on optimizing the operational model of the meat business to enhance supply chain resilience and shift from production-driven to demand-driven[12] - The company aims to enhance profitability by optimizing customer and channel structures, focusing on high-value products, and reducing reliance on price-sensitive low-end customers[12] Financial Position - As of September 30, 2025, the company's net assets were RMB 2,426,573 thousand, with cash and cash equivalents accounting for 15.0% of total assets[14] - The current ratio as of September 30, 2025, was 1.48, slightly down from 1.55 on December 31, 2024[14] - The ratio of interest-bearing borrowings to equity was 20.7% as of September 30, 2025, down from 23.3% on December 31, 2024[14] Market Outlook - The company is actively expanding diversified channels in the feed business to enhance sales and mitigate market risks[13] - The company is committed to digital and intelligent transformation to optimize supply chain management and improve operational efficiency[13] - The company anticipates a gradual recovery in the supply-demand relationship in the white feather broiler industry as some small and medium-sized capacities begin to exit the market[12]

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CEO Remuneration - The total remuneration for the CEO, Mr. Wang Ganzhi, for the year ended December 31, 2012, was HKD 1,311,000, which included a salary of HKD 127,000 and allowances of HKD 1,170,000[5] - For the year ended December 31, 2013, the total remuneration for the CEO decreased to HKD 987,000, with a salary of HKD 975,000 and allowances of HKD 12,000[5] Information Disclosure - The company has maintained all information and content from the annual reports for the years ended December 31, 2012, and December 31, 2013, without any changes[6] - The board of directors confirmed the accuracy and completeness of the information disclosed in the announcement, ensuring no misleading or deceptive elements are present[8] - The announcement will be available on the GEM website and the company's website for at least seven days from the publication date[8]

香港交易及結算所有限公司和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。 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 （股份代號： 1310） HKBN Ltd. 香 港 寬 頻 有 限 公 司 截 至2025 年8 月31 日止年度 全年業績公告 （除 另 有 說 明 外，本 公 告 所 載 有 的 全 部 財 務 數 字 均 以 港 元 列 示。） 香 港 寬 頻 有 限 公 司（「本公司」）董 事 會（「董事會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（「本集團」）截 至2025 年8 月31 日 止 年 度（「2025 財 年」）的 綜 合 業 績。 公告摘要 – 1 – ） • 總 收 益 表 現 強 勁，按 年 增 長4%至111.29 億 元。尤 其 亮 眼 的 是，在 撇 除 手 機 及 其 他 產 品 銷 售 後，核 心 服 務 收 益 增 幅7%。 • 息稅折舊攤銷 ...

Financial Performance - Revenues for the 18 months ended June 30, 2024, were RMB 71,312,000, a decrease of 45.5% compared to RMB 129,321,000 for the year ended December 31, 2022[16] - Gross profit for the same period was RMB 12,942,000, representing a gross margin of approximately 18.2%[16] - The operating loss increased to RMB 42,319,000, compared to an operating loss of RMB 80,476,000 for the year ended December 31, 2022[16] - Loss attributable to owners of the company was RMB 45,840,000, compared to RMB 169,809,000 for the previous year[16] - Basic loss per share was RMB 0.043, an increase from RMB 0.1668 in the previous year[16] - The company reported a non-controlling interest gain of RMB 3,521,000, contrasting with a loss of RMB 2,162,000 in the previous year[16] - For the year ended June 30, 2025, the Group recorded revenue of approximately RMB 71.3 million, a significant increase from approximately RMB 24.6 million for the eighteen months ended June 30, 2024, representing a growth of 189%[65] - The gross profit for the year was RMB 12.9 million, with a gross profit margin decreasing from 22.0% in 2024 to 18.1% in 2025[65] - The net loss after taxation for the year was approximately RMB 42.3 million, compared to a net loss of approximately RMB 18.2 million for the eighteen months ended June 30, 2024[65] Asset and Liability Management - Total assets decreased to RMB 159,994,000 from RMB 207,251,000 year-on-year, a decline of approximately 22.8%[18] - Total debt reduced significantly to RMB 9,417,000 from RMB 22,354,000, marking a decrease of about 57.8%[18] - Current liabilities increased to approximately RMB 156.4 million as at June 30, 2025 from RMB 151.6 million as at June 30, 2024, resulting in a current ratio of approximately 0.6[100] - Cash and bank balances decreased from RMB 4.5 million as at June 30, 2024 to approximately RMB 2.8 million as at June 30, 2025[105] - Trade payables increased from approximately RMB 10.8 million as at June 30, 2024 to RMB 12.5 million as at June 30, 2025, with turnover days decreasing from 355 days to 58 days[121] Operational Efficiency - Gross profit margin for the overall business was 18.1%, down from 22% in the previous year, indicating a decline of 3.9 percentage points[20] - Operating margin improved to 64.2% compared to a negative 65.7% in the previous year, showing a significant recovery[20] - Net margin reached 59.3%, a substantial improvement from a negative 74.2% year-on-year[20] - Trade receivables turnover improved to 46.7 days from 145.7 days, indicating better collection efficiency[20] - Trade receivables increased by 245.1% from RMB 5.1 million as at June 30, 2024 to RMB 17.6 million as at June 30, 2025, attributed to an increase in total revenue of RMB 46.7 million[107] Strategic Initiatives - The company is focusing on market expansion and new product development to improve future performance[16] - Management indicated plans for strategic partnerships to enhance technological capabilities and market reach[16] - The company is exploring potential mergers and acquisitions to strengthen its market position[16] - The Group is developing the "Yongtai Kungfu Distinctive Town" project in collaboration with the Yongtai County government, focusing on ecological agricultural production[74] - The Company aims to enhance its market position through strategic partnerships and collaborations in the media sector[152] Market Trends and Economic Indicators - The Group reported a total retail sales of consumer goods reaching RMB 36.5877 trillion, a year-on-year increase of 4.5%[30] - Online retail sales amounted to RMB 1,128.30 billion, growing by 9.8% year-on-year, with physical goods online retail sales at RMB 915.28 billion, up 6.5%[32] - The consumer goods replacement policy continued to show effectiveness, with retail sales of home appliances and audio-visual equipment increasing by 25.3%[32] - China's GDP for the first half of 2025 reached RMB 660,536 billion, representing a year-on-year growth of 5.3%[51] - The year-on-year growth rate for the first quarter of 2025 was 5.4%, while the second quarter saw a growth of 5.2%[47] Governance and Compliance - The Group has complied with relevant laws and regulations in the PRC that significantly impact its operations during the year[180] - All independent non-executive directors have confirmed their independent status according to Listing Rule 3.13[195] - The service contracts for executive and non-executive directors are for a term of three years, with termination requiring a written notice of at least six months for executive directors and one month for non-executive directors[196] - The remuneration policy for directors and senior management is based on individual performance and market trends[198] Shareholder Information - No final dividend was recommended for the year ended June 30, 2025[158] - As of June 30, 2025, the Company had no reserves available for distribution to shareholders[168] - The Group's total sales from the five largest customers accounted for approximately 47% of total sales, with the largest customer contributing about 14%[177] - The aggregate purchases from the five largest suppliers represented approximately 72% of total purchases, with the largest supplier accounting for about 29%[178]