Financial Performance - For the six months ended September 30, 2025, the group's revenue was approximately HKD 81.06 million, an increase of 110.4% compared to approximately HKD 38.54 million for the same period last year[4] - The group's net profit for the reporting period was approximately HKD 35.66 million, a significant increase of 595.6% from approximately HKD 5.13 million in the same period last year[4] - The basic earnings per share attributable to the owners of the company was HKD 5.4 cents, compared to HKD 0.95 cents for the same period last year[4] - Total revenue for the reporting period was HKD 81,059,737, an increase of HKD 42,524,519 or 110.4% compared to the same period last year[39] - Net profit for the reporting period was HKD 35,659,399, an increase of HKD 30,533,249 or 595.6% compared to the same period last year[39] User Growth - As of September 30, 2025, the number of registered users reached approximately 869,920, an increase of 5.5% or 45,520 users from approximately 824,400 users a year ago[4] - As of September 30, 2025, the group had approximately 869,920 registered users, an increase of 45,520 users or 5.5% from 824,400 users a year earlier[42] Assets and Liabilities - Non-current assets increased to HKD 23,823,555, up from HKD 22,332,372, representing a growth of approximately 6.7%[7] - Current assets rose significantly to HKD 364,682,362, compared to HKD 200,604,128, marking an increase of about 81.7%[7] - Total liabilities increased to HKD 45,223,520, up from HKD 37,340,410, reflecting a growth of approximately 21.4%[7] - Net asset value reached HKD 341,745,777, compared to HKD 185,478,588, indicating a substantial increase of around 84.3%[7] - The group’s total liabilities, including trade and other payables, were HKD 32,886,000 as of September 30, 2025, compared to HKD 27,879,000 as of March 31, 2025[30] Cash Flow and Investments - The company reported a profit of HKD 33,691,466 for the six months ended September 30, 2025, compared to a loss in the previous period[8] - The company reported a net cash outflow from investing activities of HKD 66,937,724, primarily due to payments for intangible assets amounting to HKD 5,425,303[9] - Cash and cash equivalents decreased by HKD 6,049,408 during the reporting period, with cash and cash equivalents at HKD 105,698,776 as of September 30, 2025[9] - The company’s cash and cash equivalents rose to HKD 222,842,583, up from HKD 162,521,973, representing a growth of about 37.1%[7] - The group’s cash and cash equivalents increased to HKD 222,843,000 as of September 30, 2025, compared to HKD 162,522,000 as of March 31, 2025[29] Revenue Breakdown - Revenue from integrated trading terminal products and system services was HKD 80,498, with significant contributions from financial services licensed under the Securities and Futures Ordinance, which generated HKD 44,343, up from HKD 8,597 in 2024[16] - Revenue from Hong Kong customers was HKD 68,138, significantly up from HKD 29,705 in the previous year, indicating a growth of approximately 129.1%[18] - Revenue from customers in China increased to HKD 12,922 from HKD 8,830, representing a growth of approximately 46.5%[18] - The company’s SaaS services revenue increased to HKD 20,414, up from HKD 13,471, marking a growth of approximately 51.5%[16] - Revenue from licensed financial services surged 415.8% to HKD 44,343,046, with underwriting and co-underwriting services revenue increasing 440.2% to HKD 38,831,633, representing 47.9% of total group revenue[43] Shareholder Information - The issued share capital as of September 30, 2025, was HKD 6,800,000, with a total of 680,000,000 ordinary shares issued[57] - Mr. Liu Yong holds a total of 226,001,789 shares, representing 33.24% of the company's equity[67] - Mr. Wan Yong also holds a total of 226,001,789 shares, representing 33.24% of the company's equity[67] - Major shareholders include Liu Xiaoming and Chen Chaoxia, each holding 226,001,789 shares, representing 33.24% of the total shares[70] Corporate Governance - The company confirmed compliance with the GEM listing rules regarding securities trading by directors during the reporting period[79] - The company adhered to all applicable corporate governance codes, with a noted deviation from the code regarding the separation of the roles of Chairman and CEO[80][81] - The Chairman and CEO roles are currently held by the same individual, which the board believes provides strong and consistent leadership[81] - The board will continue to review the corporate governance practices and consider separating the roles at an appropriate time[82] Future Plans - The company plans to enhance its SaaS platform and data service capabilities while actively developing licensed financial services, focusing on underwriting and innovative enterprises[59] - The group is preparing to advance its GEM to Main Board transfer plan, expected to initiate in the first half of 2026, to improve stock liquidity and company valuation[59] Miscellaneous - The board of directors does not recommend the payment of any dividend for the reporting period, consistent with the previous year[4] - No significant capital commitments were reported as of September 30, 2025[36] - No significant events occurred after September 30, 2025, that could materially impact the group's assets or future operations[37] - The audit committee has reviewed the unaudited consolidated financial statements for the six months ending September 30, 2025, and confirmed compliance with applicable accounting standards and GEM listing rules[90]

Credit Loss and Financial Performance - The expected credit loss for the independent after-sales company is approximately RMB 139.6 million, primarily due to the company's failure to pay interest on time [4]. - The net liabilities attributable to the independent after-sales company increased to approximately RMB 855 million as of December 31, 2024, with an operating loss of about RMB 36 million and financial costs of approximately RMB 32 million recorded for the year [4]. - The expected credit loss provision as of December 31, 2024, is RMB 712.4 million, after accounting for previous provisions [6]. - The total risk value faced by the company in the event of default by the independent after-sales company is the sum of the total advances and receivable interest [8]. - The default probability is set at 100%, consistent with the previous two years, while the default loss rate increased from 68.9% to 82.4% due to prolonged overdue periods [8]. - The expected credit loss provision is calculated using the formula: expected credit loss = default risk x default probability x default loss rate [8]. Repayment Efforts - The company received repayments totaling RMB 40 million from the independent after-sales company on October 9 and 10, 2025, and remains committed to recovering the outstanding balance [7]. - The company is in ongoing discussions with the independent after-sales company to explore feasible repayment solutions [4]. Operational Efficiency - The independent after-sales company is actively working to optimize operational efficiency, including restructuring staff and reducing operating costs [4]. - The total number of stock options available for grant under the stock option plan is 122,570,067 shares, representing 8.05% of the issued shares as of the report date [3].

Stock Options - Fenbi Ltd. reported a total of 5,020,000 unexercised stock options as of January 1, 2024, with 2,010,000 options exercised during the reporting period [8]. - The weighted average exercise price for the unexercised stock options is HKD 4.46 per share [8]. - The company has a total of 66,956,760 stock options granted from January 1, 2017, to October 25, 2022, with 37,120,790 options exercised and 29,417,810 remaining unexercised [8]. - The 2023 stock option plan allows for options to be exercised until the tenth anniversary of the grant date, subject to the terms of the plan [9]. Board of Directors - The company’s board of directors includes executive directors Zhang Xiaolong and Wei Liang, along with independent non-executive directors [9].

Financial Performance - For Q3 2025, Autohome Inc. reported total net revenue of RMB 1,778.1 million (USD 249.8 million), a slight increase from RMB 1,774.5 million in Q3 2024[9]. - The net profit attributable to Autohome Inc. for Q3 2025 was RMB 436.6 million (USD 61.3 million), compared to RMB 441.3 million in the same period last year, reflecting a decrease of 1.5%[18]. - Adjusted net profit (non-GAAP) for Q3 2025 was RMB 406.9 million (USD 57.2 million), down from RMB 497.2 million in Q3 2024[9]. - Operating profit for Q3 2025 was RMB 147.0 million (USD 20.7 million), an increase from RMB 82.6 million in Q3 2024[16]. - In Q3 2025, net profit attributable to ordinary shareholders was RMB 419.4 million (USD 58.9 million), slightly down from RMB 425.7 million in Q3 2024[19]. - Basic and diluted earnings per share for Q3 2025 were RMB 0.89 (USD 0.13), compared to RMB 0.88 and RMB 0.87 in Q3 2024[19]. - Adjusted basic and diluted earnings per share for Q3 2025 were RMB 0.87 (USD 0.12) and RMB 0.86 (USD 0.12), respectively, compared to RMB 1.02 in Q3 2024[20]. Revenue and Growth - Daily active users on mobile platforms reached 76.56 million in September 2025, representing a year-over-year growth of 5.1%[10]. - Online marketing and other business revenues grew by 32.1% year-over-year in Q3 2025, driven by strong contributions from the new retail business[10]. Expenses and Costs - Operating costs for Q3 2025 were RMB 646.0 million (USD 90.7 million), significantly higher than RMB 407.7 million in Q3 2024, primarily due to increased transaction costs from expanding into lower-tier markets[12]. - Research and development expenses for Q3 2025 were RMB 278.6 million (USD 39.1 million), down from RMB 339.2 million in the same quarter last year, mainly due to reduced personnel-related costs[15]. Dividends and Share Repurchase - The company approved a cash dividend of USD 1.20 per American depositary share, totaling approximately RMB 1 billion, with total declared cash dividends for 2025 reaching RMB 1.5 billion[9]. - The company has repurchased 5,483,238 American depositary shares for a total amount of approximately USD 145.9 million as of October 31, 2025[9]. Cash Flow and Assets - As of September 30, 2025, cash and cash equivalents totaled RMB 21.89 billion (USD 3.08 billion) with net cash flow from operating activities at RMB 66.6 million (USD 9.4 million)[21]. - Total assets increased to RMB 30,221,625 as of December 31, 2024, up from RMB 28,773,351 as of September 30, 2024, representing a growth of 5.0%[37]. - Cash and cash equivalents decreased to RMB 1,693,597 from RMB 3,012,339, a decline of 43.7%[37]. - Short-term investments rose to RMB 21,621,992, an increase of 14.6% compared to RMB 18,880,945 in the previous quarter[37]. - Total current assets reached RMB 25,163,851, an increase of 6.2% from RMB 23,690,755[37]. Liabilities and Equity - Total liabilities increased to RMB 5,020,975, up 45.3% from RMB 3,451,212[37]. - Current liabilities surged to RMB 4,529,794, a significant increase of 53.0% from RMB 2,959,042[37]. - Total equity stood at RMB 23,269,121, slightly up from RMB 23,249,006, indicating a marginal growth of 0.09%[37]. Future Outlook and Strategy - The company aims to leverage technology to reduce decision-making and transaction costs in the automotive industry[26]. - The company utilizes non-GAAP financial metrics to provide a clearer picture of its financial performance, excluding certain expenses[28]. Employee and Conference Information - Total employees as of September 30, 2025, numbered 4,259, including 1,206 from Tian Tian Pai Che[23]. - The earnings conference call is scheduled for November 6, 2025, at 7:00 AM ET[24].

Financial Performance - Total revenue for Q3 2025 reached $1.41 billion, a year-on-year increase of 41%[6] - Global revenue for Baiyueze® (Zebutinib) in Q3 2025 was $1 billion, reflecting a 51% year-on-year growth[6] - GAAP diluted earnings per ADS for Q3 2025 were $1.09, compared to a loss of $1.15 in Q3 2024, marking a 195% improvement[7] - Adjusted diluted earnings per ADS for Q3 2025 were $2.65, up 452% from $0.48 in Q3 2024[7] - Operating profit (loss) under GAAP for Q3 2025 was $163.11 million, a 236% increase from a loss of $120.27 million in Q3 2024[7] - Adjusted operating profit (loss) for Q3 2025 was $341.18 million, a 420% increase from $65.63 million in Q3 2024[7] - Free cash flow for Q3 2025 was $354.47 million, a significant increase of 548% from $54.71 million in Q3 2024[7] - GAAP net profit for Q3 2025 was $125 million, an increase of $246 million compared to a loss in the same period last year[14] - Total revenue for the nine months ended September 30, 2025, reached $3,844,863, compared to $2,682,417 for the same period in 2024, marking an increase of about 43.2%[32] - Net profit for the three months ended September 30, 2025, was $124,841, a significant improvement from a net loss of $121,350 in the same period of 2024[32] Revenue Breakdown - Product revenue for Q3 2025 reached $1.4 billion, compared to $993 million in Q3 2024, driven primarily by increased sales of Baiyueze®[8] - Baiyueze® sales in the U.S. for Q3 2025 were $739 million, a 47% increase year-over-year, driven by strong demand across all indications[11] - Baizean® sales for Q3 2025 were $191 million, representing a 17% year-over-year increase, supported by ongoing clinical advancements[11] Expenses and Costs - R&D expenses for Q3 2025 were $523.7 million, a 6% increase from $496.2 million in Q3 2024, reflecting ongoing clinical project advancements[10] - SG&A expenses for Q3 2025 totaled $529 million, a 16% increase from $455.2 million in Q3 2024, driven by global commercialization efforts[10] - Operating expenses for the three months ended September 30, 2025, totaled $1,052,660, compared to $951,402 in the same period of 2024, indicating an increase of about 10.7%[32] - Adjusted operating expenses for the nine months ended September 30, 2025, were $2,582,806, compared to $2,310,299 in the same period of 2024, representing an increase of 11.8%[39] Guidance and Future Plans - The company has updated its financial guidance for the fiscal year 2025 based on current information available[2] - The company updated its full-year 2025 revenue guidance to between $5.1 billion and $5.3 billion, reflecting strong growth expectations for Baiyueze®[15] - The company plans to continue advancing its late-stage hematological oncology pipeline, including promising candidates like Sotokura and BGB-16673[6] - The company expects to obtain orphan drug designation for Baiyueze® for marginal zone lymphoma (MZL) in Japan by the first half of 2026[23] - The company plans to initiate a Phase 3 trial for BGB-43395 (CDK4 inhibitor) in HR-positive, HER2-negative metastatic breast cancer in the first half of 2026[23] Market Presence - Baiyueze® is currently approved in 75 markets globally, with reimbursement in 57 markets, indicating significant market penetration[17] - 47 abstracts were accepted for presentation at the American Society of Hematology (ASH) annual meeting[6] Cash Flow and Assets - Cash and cash equivalents as of September 30, 2025, were $4,110,542, an increase from $2,638,747 as of December 31, 2024[34] - Total assets as of September 30, 2025, amounted to $7,632,586, compared to $5,920,910 as of December 31, 2024, representing an increase of approximately 29.0%[34] - The company reported a net cash provided by operating activities of $402,553 for the three months ended September 30, 2025, compared to $188,369 in the same period of 2024[36] Legal and Regulatory - The company announced that Pharmacyclics will not appeal the final written decision regarding the invalidation of the U.S. patent related to Baiyueze®[28] - The company has reached an agreement with Royalty Pharma to sell rights to receive royalties on global sales of Tarlatamab outside of China, with a potential transaction value of up to $950 million[28] Earnings Call - The third quarter earnings conference call is scheduled for November 6, 2025, at 8 AM ET, with a live stream available on the company's investor page[26]

Financial Performance - The group reported a net loss of approximately RMB 8.6 million for the six months ended June 30, 2025, with no revenue generated during this period [3]. - Revenue for the six months ended June 30, 2025, was approximately RMB 86.4 million, an increase from RMB 54.9 million in the same period of 2024 [6]. - The sales and distribution costs as a percentage of revenue decreased from approximately 6.8% for the six months ended June 30, 2024, to about 4.5% for the same period in 2025 [6]. - General and administrative expenses as a percentage of revenue decreased from approximately 19.5% for the six months ended June 30, 2024, to about 16.2% for the same period in 2025 [6]. Liabilities and Financing - Current liabilities and total liabilities were approximately RMB 273.6 million as of June 30, 2025, including bank loans and accrued interest totaling about RMB 193.5 million [3]. - The company issued two five-year bonds of HKD 5 million each in February and June 2025, with an annual interest rate of 5% to raise funds for operational activities [4]. - As of the announcement date, the company has not completed any new debt financing [5]. Shareholder Engagement - The company is actively seeking shareholder support for a share consolidation and change in trading unit to address low share price issues and enhance future fundraising flexibility [4]. - The company plans to issue quarterly updates to inform shareholders and investors of any significant developments [7].

Share Option Plan - The total number of shares available for issuance under the share option plan is 51,250,000 shares, accounting for 10% of the company's issued shares (excluding treasury shares) as of December 31, 2024[3] - The company has not exercised any share options since December 31, 2024, indicating no dilution of existing shares from this plan[3] Compliance and Transparency - The announcement is made in compliance with GEM listing rules, ensuring transparency and accountability regarding the company's information[6]

CEO Compensation - The total compensation for the CEO, Xia Yilin, for the year ended December 31, 2023, was HKD 16,000, while for 2022 it was HKD 3,102,000, indicating a significant decrease [3]. - The CEO's salary and allowances for 2023 were HKD 16,000 compared to HKD 3,084,000 in 2022, reflecting a drastic reduction [3]. - There were no contributions to the retirement plan for the CEO in 2023, while there were HKD 18,000 in contributions in 2022 [3].

Financial Performance - Revenue for the period reached 635,180 million, representing a 20.7% increase year-over-year[10] - Gross profit margin improved to 13.5%, up from 12.2% in the previous period[10] - Operating profit was reported at 25,725 million, a significant increase of 223.5% compared to the prior year[10] - The company achieved a net profit of 17,752 million, reflecting a decrease of 65.7% year-over-year[10] - Total revenue for the latest quarter reached $6,162,217 million, an increase from $6,101,971 million in the previous quarter[33] - The company reported a net income of $220,223 million, up from $218,468 million, reflecting a growth of approximately 0.8%[33] - The company achieved a gross profit margin of 41.1%, slightly down from 42.7% in the previous quarter[33] Market Expansion - The company plans to expand its market presence in the MCU segment, which has shown a growth of 20.3%[13] - The company is expanding its market presence in Asia, targeting a 10% increase in market share by the end of the next fiscal year[33] Product Development - New product development efforts are focused on advanced semiconductor technologies, particularly in the 65nm and 90nm nodes[19] - The company reported a significant increase in sales of power discrete products, with a growth rate of 106.6%[18] - New product launches are anticipated to contribute an additional $500 million in revenue over the next fiscal year[33] Future Guidance - Future guidance indicates a continued focus on enhancing operational efficiency and expanding production capacity[10] - Future guidance projects revenue growth of 5% to 7% for the next quarter, with expectations of reaching between $6,500,000 million and $6,600,000 million[33] Strategic Initiatives - The company is exploring potential mergers and acquisitions to strengthen its market position and technological capabilities[10] - A strategic acquisition is planned, expected to close in Q2 2024, which is projected to enhance the company's product offerings and market reach[33] Research and Development - Research and development expenses increased to $381,305 million, up from $290,515 million, reflecting a focus on innovation and new technologies[33] User Metrics - User data showed an increase in active users to 7,051,359, compared to 6,892,127 in the previous quarter, indicating a growth of about 2.3%[33] Cash Flow - The company reported a significant increase in operating cash flow to $1,412,773 million, compared to $1,410,798 million in the previous quarter[33]

Share Incentive Plan - The company granted a total of 1,600,000 incentive shares to four directors in 2022 and 2023, including 800,000 shares to Mr. Chen and 400,000 shares to Ms. Yong[8]. - The company issued 4,710,000 share options to multiple eligible participants under the 2014 plan on June 28, 2022, and 90,000 share options to three eligible employees under the 2022 plan on July 11, 2023[3]. - The company has a total of 1,300,000 shares granted to employees other than the eight directors as of December 23, 2022[6]. - The company’s incentive share plan aims to align the interests of employees with those of shareholders through equity participation[7]. - Any share incentives granted to independent non-executive directors or major shareholders must comply with listing rules and corporate governance codes[10]. Vesting and Approval - As of December 31, 2024, a total of 1,200,000 incentive shares were vested to Mr. Chen and Ms. Yong, with a weighted average closing price of HKD 0.90 per share prior to the vesting date[8]. - The board provided supplementary information regarding the status of unvested incentive shares as of the end of the fiscal year 2024[4]. - The maximum number of shares that can be granted under the share incentive plan to employees within any 12-month period shall not exceed 1% of the issued share capital of the company at the time of the grant[7]. - The company is required to obtain shareholder approval at the general meeting if the grant to any individual employee exceeds the 1% limit of the issued share capital[7]. - The company must obtain shareholder approval if the total shares granted as incentives exceed 0.1% of the issued shares within a 12-month period[9]. Board Approval - The company’s board of directors approved the conditional grant of 800,000 incentive shares to Mr. Chen and 400,000 shares to Ms. Yong during the extraordinary general meeting held on February 9, 2023[6]. - The information regarding share options and incentive shares remains unchanged in the 2024 annual report[10]. Financial Reporting - The company’s financial year ends on December 31, 2024, and the report includes detailed notes on share-based payment transactions[4].