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，並明確表示不會對本公告的全部或任何 部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 QUALI-SMART HOLDINGS LIMITED 滉達富控股有限公司 * （於開曼群島註冊成立的有限公司） （股份代號：1348） 截至2025年9月30日止六個月的 中期業績公告 中期業績 滉達富控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會 （「董事會」）謹此公佈本集團截至2025年9月30日止六個月（「本期間」）之未經審核 簡明綜合中期業績連同2024年同期（「上期間」）之比較數字。 財務摘要 收入 本集團於本期間的收入約為27.8百萬港元，當中，玩具分部及金融服務分部的 貢獻分別為約22.5百萬港元及5.3百萬港元，相比本集團上期間的收入約58.3百 萬港元整體減少約30.5百萬港元或52.3%。 本集團於本期間之收入減少約30.5百萬港元，主要由於玩具分部之收入減少約 25.3百萬港元及金融服務分部之收入減少約5.2百萬港元，分別同比減少約52.9% 及減少約4 ...

Financial Performance - For the six months ending September 30, 2025, the company reported total revenue of HKD 17,000,000, an increase from HKD 11,064,000 in the same period of 2024, representing a growth of approximately 53.5%[3] - Commission and fee income reached HKD 5,933,000, up from HKD 2,588,000 in the previous year, marking a significant increase of 129.5%[8] - The company achieved a pre-tax profit of HKD 6,100,000, compared to HKD 1,464,000 in the prior year, reflecting a growth of 316.5%[3] - The total comprehensive income for the period was HKD 6,167,000, significantly higher than HKD 1,464,000 in the same period last year, indicating a year-over-year increase of 320.5%[3] - Basic earnings per share rose to HKD 0.62 from HKD 0.15, representing an increase of 313.3%[3] - The total profit before tax was HKD 6,100,000, with the brokerage services segment contributing HKD 3,693,000 and the financing services segment contributing HKD 7,726,000[13] - Net profit for the reporting period was approximately HKD 6.2 million, a significant increase of about 321.2% from approximately HKD 1.5 million in the previous six months[42] Assets and Liabilities - Non-current assets totaled HKD 3,801,000 as of September 30, 2025, slightly down from HKD 3,965,000 as of March 31, 2025[4] - Current assets amounted to HKD 527,543,000, a decrease from HKD 540,522,000 at the end of March 2025[4] - The company's net asset value increased to HKD 364,583,000 from HKD 358,416,000, reflecting a growth of 1.8%[4] - The total accounts receivable from securities trading business was HKD 250,063,000 as of September 30, 2025, an increase from HKD 200,966,000 as of March 31, 2025[23] - The company had accounts payable of HKD 164.351 million as of March 31, 2025, compared to HKD 148.119 million as of September 30, 2025[27] - The group’s net current assets were approximately HKD 360.8 million, an increase of about HKD 6.3 million from approximately HKD 354.5 million as of March 31, 2025[43] - The asset-to-liability ratio was zero as of September 30, 2025, consistent with the previous reporting period[44] - The group had no bank borrowings or asset pledges as of September 30, 2025[46][47] Revenue Segmentation - Total revenue for the brokerage services segment was HKD 5,700,000, while the financing services segment generated HKD 11,067,000, leading to a total segment revenue of HKD 17,000,000[13] - Commission income from the securities brokerage business increased by approximately 278.5% to about HKD 57 million, accounting for approximately 33.5% of total revenue[31] - Interest income from margin financing services rose by approximately 30.6% to about HKD 111 million, representing about 65.1% of total revenue[32] - Commission income from placement and underwriting services decreased by approximately 78.7% to about HKD 0.2 million, accounting for approximately 1.4% of total revenue[34] Operational Highlights - The company continues to focus on expanding its commission and fee income streams, particularly in securities trading and asset management services[9] - The average daily trading volume in the securities market for the first three quarters of 2025 was HKD 256.4 billion, an increase of approximately 126% compared to the same period in 2024[29] - The total funds raised in the Hong Kong securities market for the first three quarters of 2025 amounted to HKD 444 billion, an increase of approximately 252.0% compared to the same period in 2024[29] - The group completed 1 project during the reporting period, down from 2 projects in the previous six months, due to a lack of small and medium issuers in the market[35] Impairment and Provisions - The company recorded an impairment loss of HKD (3,240,000) in the financing services segment for the six months ended September 30, 2025[14] - The company recognized an impairment loss provision of HKD 31.207 million as of September 30, 2025, compared to HKD 28.429 million as of March 31, 2025[24] - The provision for impairment of receivables related to underwriting and placement services was HKD 1.18 million as of September 30, 2025, unchanged from March 31, 2025[25] - The company reported a decrease in expected credit loss provisions by approximately 28.7% to about HKD 32 million during the reporting period[32] Cash Position and Expenditures - The group maintained a healthy cash position with total bank deposits of approximately HKD 145.1 million as of September 30, 2025, down from HKD 218.9 million as of March 31, 2025[43] - The total amount utilized from the net proceeds is HKD 46.9 million, with a remaining balance of HKD 43.7 million expected to be fully utilized by the end of 2026[55] - The net proceeds from the company's shares listed on the main board of the Stock Exchange amounted to approximately HKD 90.6 million, intended for various purposes including business expansion and upgrading IT systems[54] Corporate Governance and Future Plans - The board believes that the company has complied with the corporate governance code during the reporting period[59] - The group plans to utilize the net proceeds conservatively and flexibly to promote long-term development, with a focus on resuming expansion plans when the global economic environment stabilizes[56] - The group has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[51] - The board does not recommend the payment of an interim dividend for the reporting period[57] - There were no significant events after the reporting period[58]

截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 煜 榮 集 團 控 股 有 限 公 司（「本 公 司」）董 事（「董 事」）會（「董 事 會」）欣 然 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 六 個 月（「報 告 期 間」）的 未 經 審 核 綜 合 中 期 業 績，連 同 二 零 二 四 年 同 期 的 比 較 數 字 如 下： 簡 明 綜 合 損 益 及 其 他 全 面 收 益 表 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 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。 截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月 | | | | | | | | | | | | | | ...

Financial Performance - Revenue for the year ended August 31, 2025, was RMB 1,083,741,000, an increase of RMB 128,634,000 or 13.5% compared to RMB 955,107,000 in 2024[2] - Gross profit for the same period was RMB 338,617,000, reflecting an increase of RMB 25,811,000 or 8.3% from RMB 312,806,000 in 2024[2] - Net profit for the year was RMB 57,601,000, up RMB 3,645,000 or 6.8% from RMB 53,956,000 in 2024[2] - Profit attributable to owners of the company increased by 28.2% to RMB 57,696,000 from RMB 45,009,000 in 2024[2] - Adjusted net profit was RMB 71,543,000, a slight increase of 2.3% from RMB 69,913,000 in 2024[2] - Total revenue from contracts with customers for the year 2025 is RMB 1,083,741,000, representing an increase from RMB 955,107,000 in 2024, with university tuition fees rising to RMB 421,093,000 from RMB 366,759,000[17] - Other income for 2025 totals RMB 19,677,000, slightly decreasing from RMB 19,755,000 in 2024, with government grants increasing to RMB 434,000 from RMB 293,000[18] - Financing costs for 2025 amount to RMB 118,851,000, down from RMB 126,254,000 in 2024, indicating a reduction in interest expenses[19] - The group's effective tax expense for the year includes current tax of RMB 7,247,000 and deferred tax of RMB 1,318,000, totaling RMB 8,565,000, compared to RMB 5,637,000 in 2024[22] - Basic earnings per share for the year ending August 31, 2025, increased to RMB 1.9 from RMB 1.5 in 2024, reflecting a growth of approximately 26.7%[25] Enrollment and Education Quality - Total student enrollment reached 34,518 in 2025, up from 34,307 in 2024, with university enrollments increasing to 24,967[3] - The total enrollment for self-operated schools in the 2025-2026 academic year was 34,518 students, with 9,551 in high school and 24,967 in higher education[31] - Approximately 90.1% of graduates from flagship schools achieved scores qualifying them for top universities in the 2025 college entrance examination, up from 89.2% in 2024[33] - Over 70% of graduates from the AP/A-Level program were admitted to universities ranked in the top 50 globally, maintaining the leading position in international education within the province[34] - The overall utilization rate of the schools improved to 74.2% in 2025 from 71.4% in 2024, indicating better capacity management[46] - The average tuition for domestic high school programs increased to RMB 45,869 in 2025, up from RMB 44,101 in 2024[40] - The number of teachers increased to 1,736 in 2025, with approximately 54.6% holding a master's degree or higher, emphasizing the quality of education[42] Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.20 per share and a special dividend of HKD 0.30 per share[1] - The board proposed a final dividend of HKD 0.20 per share and a special dividend of HKD 0.30 per share, totaling HKD 15,444,000 for the year ending August 31, 2025[8] - The company will suspend share transfer registration from January 20, 2026, to January 23, 2026, to determine the eligibility of shareholders attending the annual general meeting[80] - The company will also suspend share transfer registration from January 29, 2026, to January 30, 2026, to determine the eligibility of shareholders for receiving final and special dividends[80] Operational and Strategic Developments - The group plans to establish new high schools in collaboration with third-party partners, primarily following a light-asset model, to enhance market presence[43] - The group aims to increase the utilization rate of existing school networks and tuition fees as part of its growth strategy[44] - The group has established management cooperation agreements with 13 schools, including 7 kindergartens and 2 composite junior and senior high schools, to provide educational management and consulting services[50] - A second campus is planned to be established in 2025 to double the service scale based on the successful operational model of the flagship campus[51] - The group faces operational risks including changes in the regulatory environment and competition from other educational institutions[55] - The group maintains a balance between continuous funding supply and flexibility through bank borrowings[57] - The group has established a risk management structure to oversee significant business decisions related to school network expansion and tuition fee adjustments[58] Compliance and Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with all applicable provisions during the reporting period[81] - Following the passing of an independent non-executive director, the company appointed a new independent non-executive director on January 16, 2025, ensuring compliance with relevant listing rules[82] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed audit, internal control, and financial reporting matters[85] - The financial information in the announcement does not constitute audited consolidated financial statements for the year ended August 31, 2025[86] - The annual performance announcement will be published on the Stock Exchange website and the company's website[87] - The company has confirmed compliance with the standard code for securities transactions by directors during the reporting period[83] - The board of directors includes both executive and independent non-executive members, ensuring a balanced governance structure[89] Financial Position - Total assets less current liabilities amounted to RMB 2,619,252,000, down from RMB 2,818,674,000 in 2024[7] - The company’s net assets increased to RMB 859,562,000 from RMB 840,343,000 in 2024[7] - As of August 31, 2025, the group's net current liabilities amount to approximately RMB 731,736,000, with potential payments of RMB 2,354,921,000 required if guarantees are called upon[9] - The group has unutilized bank financing of RMB 940,000,000 available as of August 31, 2025, which can be drawn upon if strategic cooperation agreements with banks remain unchanged[10] - The company's leverage ratio decreased slightly from approximately 249.9% to 249.0% due to a reduction in interest-bearing loans[71]

Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 178,166,000, a decrease of 24.4% compared to HKD 235,785,000 for the same period in 2024[6] - Gross profit for the same period was HKD 7,353,000, down 69.4% from HKD 23,998,000 year-on-year[6] - The company reported a loss before tax of HKD 20,102,000, compared to a profit of HKD 10,385,000 in the previous year[6] - Total comprehensive loss for the period was HKD 20,139,000, contrasting with a total comprehensive income of HKD 9,010,000 in the prior year[6] - Basic loss per share was HKD 2.52, compared to earnings of HKD 1.13 per share in the same period last year[6] - The group recorded a loss attributable to owners of approximately HKD 20.1 million for the period, compared to a profit of approximately HKD 9.0 million in the previous six months, primarily due to decreased total revenue and gross profit[63] Assets and Liabilities - Non-current assets decreased to HKD 54,856,000 from HKD 65,686,000 as of March 31, 2025[7] - Current assets increased to HKD 334,945,000 from HKD 313,660,000 as of March 31, 2025[7] - Current liabilities rose to HKD 264,418,000 from HKD 233,621,000 as of March 31, 2025[7] - Total equity decreased to HKD 124,789,000 from HKD 144,928,000 as of March 31, 2025[7] - The company’s cash and cash equivalents dropped significantly to HKD 5,374,000 from HKD 25,655,000 as of March 31, 2025[7] - The total amount of trade and other payables reached HKD 156.4 million as of September 30, 2025, compared to HKD 128.0 million as of March 31, 2025[40] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2025, was HKD (16,666) thousand, compared to HKD 13,855 thousand for the same period in 2024[10] - The net cash used in investing activities for the six months ended September 30, 2025, was HKD (3,275) thousand, a significant improvement from HKD (28,031) thousand in 2024[10] - The net cash used in financing activities for the six months ended September 30, 2025, was HKD (340) thousand, compared to HKD 5,348 thousand in 2024, indicating a reduction in cash outflow[10] - The company’s cash and cash equivalents decreased to HKD 5,374 thousand at the end of September 2025, down from HKD 13,707 thousand at the end of September 2024[10] Revenue Sources - The revenue from renovation and maintenance works was HKD 121,990 thousand for the six months ended September 30, 2025, compared to HKD 78,222 thousand in 2024, indicating an increase of approximately 56%[19][20] - The group has secured 30 projects generating revenue during the reporting period, compared to 34 projects in the previous period[52] - The group obtained 8 new projects with a total original contract value of approximately HKD 127.3 million, up from 5 projects valued at HKD 56.4 million in the previous period[52] - The group's revenue decreased from approximately HKD 235.8 million to about HKD 178.2 million, a reduction of approximately HKD 57.6 million or 24.4% due to declines in mixed projects, renovation, and construction works[54] Employee Costs - The company reported a total employee cost of HKD 15,741 thousand for the six months ended September 30, 2025, down from HKD 16,186 thousand in 2024, reflecting a decrease of about 2.7%[22] - Employee costs for the group were approximately HKD 15.7 million, with a slight decrease from HKD 16.2 million for the six months ending September 30, 2024[84] Investments and Acquisitions - The group completed the acquisition of 50% of Acasa Property Limited, which owns land for redevelopment, enhancing its capacity for larger construction projects[53] - The group acquired an additional 25% equity in Acasa on January 19, 2023, bringing its total ownership to 50%[74] - The investment cost in Acasa is recorded at HKD 35,342,000, representing 9.3% of the group's total assets as of March 31, 2025[76] - The group plans to invest in the reconstruction of the Acasa property and build a new building to expand its customer base[77] Governance and Compliance - The company has established an audit committee to oversee the appointment and performance of external auditors, ensuring compliance with governance standards[98] - The company has adhered to the corporate governance code, with the roles of chairman and CEO currently held by the same individual, which the board deems appropriate for effective management[97] - No conflicts of interest were reported among directors or major shareholders during the relevant period[95] - The company has confirmed that no violations of securities trading rules occurred during the relevant period[92] Market Conditions and Future Outlook - The group anticipates continued opportunities and challenges influenced by the pace of recovery in Hong Kong, impacting the construction industry and costs[53] - The group is exploring business and investment opportunities to strengthen its revenue sources, including potential acquisitions and diversification[53]

Financial Performance - For the first half of the fiscal year 2026, the group's revenue decreased by 27.4% to approximately HKD 3,800,000,000 compared to the same period in fiscal year 2025[2] - Adjusted revenue decreased by 5.9% to HKD 4,940,000,000 in the first half of fiscal year 2026, impacted by impairment losses[8] - The company recorded a net loss attributable to shareholders of HKD 988,000,000 in the first half of fiscal year 2026, influenced by various impairment losses totaling approximately HKD 921,000,000[8] - The company reported a loss of HKD 804.16 million for the period, compared to a loss of HKD 664.10 million in the previous year[18] - Basic loss per share was HKD 32.3 cents, compared to HKD 27.3 cents for the same period last year[16] Revenue Breakdown - Adjusted revenue from property development for the first half of fiscal year 2026 decreased by 10.3% to approximately HKD 3,227,000,000, primarily due to a reduction in completed residential projects[3] - Revenue from property development for the first half of fiscal year 2026 was approximately HKD 2,000,000,000, a decline of 42.0% compared to the same period in fiscal year 2025[59] - Revenue from the hotel business for the first half of fiscal year 2026 reached approximately HKD 1,071,000,000, an increase of 9.6% year-on-year[60] - Revenue from the parking and facility management business for the first half of fiscal year 2026 was approximately HKD 343,000,000, a decrease of 9.7% compared to the first half of fiscal year 2025[61] - The gaming business revenue increased by 11.4% to approximately HKD 218,000,000 in the first half of fiscal year 2026[62] Financial Stability - The net debt decreased by HKD 1,246,000,000 to HKD 20,247,000,000, indicating enhanced financial stability[2] - The adjusted net asset liability ratio decreased to 64.9%, further strengthening the group's financial position[2] - The adjusted net debt-to-equity ratio decreased to 64.9%, reflecting improved capital management and financial discipline[9] - As of September 30, 2025, total bank loans, notes, and bonds decreased by approximately HKD 1,426,000,000 or 5.6% to HKD 23,945,000,000, indicating strict financial management[4] - The company's total liabilities amounted to HKD 23,945 million, down from HKD 25,371 million as of March 31, 2025[66] Asset Management - The company's net asset value stood at HKD 12,841,987,000, down from HKD 13,098,548,000, indicating a reduction of approximately 1.96%[21] - The total assets of the company decreased from HKD 42,543,356,000 to HKD 41,055,669,000, a reduction of approximately 3.5%[36] - The group's current assets maintained at approximately HKD 3.7 billion, ensuring adequate cash and securities levels[12] - The company reported a significant increase in cash reserves, with restricted bank deposits rising to HKD 108,576,000 from HKD 87,680,000, an increase of approximately 23.83%[19] - The company’s investment properties were valued at HKD 5,942,996,000, compared to HKD 5,825,232,000, showing a slight increase of about 2.01%[19] Development Projects - The group launched the 640 Bourke Street property development project in Melbourne in March 2025, which received significant market attention[3] - The total expected development value of active residential property development projects across various regions is approximately HKD 61,800 million as of September 30, 2025[93] - The cumulative pre-sale value and contracted sales of properties under development remained at approximately HKD 9,300,000,000 as of September 30, 2025[3] - The expected total development value of completed saleable projects is HKD 10,001 million, with a total saleable area of 893,000 square feet[96] - The "Queen's Wharf Residences" in Brisbane includes two towers with a total saleable area of 519,000 square feet and an expected development value of HKD 4,040 million, with completion anticipated in the fiscal year 2029[95] Market Expansion and Strategy - The group plans to open the Dorsett Canary Wharf London hotel in September 2025, which will provide 237 stylish rooms and dining services[3] - The group expects to open the Perth Dorsett hotel in the next 12 months, which is anticipated to enhance the group's recurring income stream[3] - The company plans to continue focusing on market expansion and new product development to enhance future performance[30] - The group is committed to optimizing its asset-liability structure and executing divestment strategies for non-core assets to reduce overall leverage during market volatility[160] - The group aims to enhance its hotel portfolio to ensure sustainable development and align with economic recovery cycles[73] ESG and Corporate Governance - The company continues to focus on ESG factors in its strategic planning and risk management, aiming to enhance climate resilience and accelerate carbon reduction efforts[11] - The group is actively advancing its ESG agenda to enhance resilience and create sustainable value for shareholders, focusing on climate-related financial disclosures and risk assessments[152] - The company has adhered to the corporate governance code, with the chairman also serving as the CEO, which the board believes provides strong and consistent leadership[177] - The management believes that the adjusted financial metrics provide useful information for assessing the company's strategic operational performance[161] - The company emphasizes that non-GAAP financial measures should be viewed as supplementary to the financial performance analysis prepared under Hong Kong Financial Reporting Standards[161]

Financial Performance - Total revenue for the six months ended September 30, 2025, was HKD 320.3 million, an increase of 8.9% compared to HKD 294.2 million in 2024[2] - Net profit attributable to shareholders rose by 7.9% to HKD 45.7 million, compared to HKD 42.4 million in the previous year[2] - Total comprehensive income attributable to shareholders for the period was HKD 45,935,000, up from HKD 43,506,000, reflecting a growth of 5.6%[18] - The company reported a profit of HKD 45,739,000 for the six months ended September 30, 2025, an increase of 8.7% compared to HKD 42,393,000 in the same period of 2024[18] - Profit for the period increased by HKD 3.3 million or 7.9% to HKD 45.7 million, with an effective tax rate of 15.0% compared to 15.2% in the previous period[51] Revenue Breakdown - Media content distribution revenue decreased by 6.7% to HKD 165.2 million, while brand licensing revenue increased by 32.3% to HKD 155.1 million[4] - Revenue from media content distribution was HKD 165,197,000, while brand licensing revenue was HKD 155,099,000, leading to total segment revenue of HKD 320,296,000[29] - Media content distribution revenue was HKD 176,969,000, while brand licensing revenue was HKD 117,206,000, contributing to the overall revenue growth[30] - Revenue from media content distribution decreased to HKD 165,197,000, down from HKD 176,969,000, while revenue from brand licensing increased to HKD 155,099,000, up from HKD 117,206,000, reflecting a growth of 32.3%[47] Assets and Liabilities - Non-current assets totaled HKD 56,057,000 as of September 30, 2025, a decrease from HKD 60,256,000 as of March 31, 2025[19] - Current assets increased to HKD 971,060,000 from HKD 911,270,000, representing a growth of 6.6%[19] - The total liabilities amounted to HKD 371,870,000, compared to HKD 354,841,000, reflecting an increase of 4.8%[20] - The company’s total assets reached HKD 1,027,117,000, with total equity of HKD 655,247,000 as of September 30, 2025[20] Cash Flow and Liquidity - The company’s cash and cash equivalents rose to HKD 360,374,000, up from HKD 326,393,000, indicating an increase of 10.4%[19] - Cash and cash equivalents as of September 30, 2025, were HKD 360.4 million, up from HKD 326.4 million as of March 31, 2025, indicating strong liquidity[58] Strategic Plans - The company plans to expand its regional presence and monetization capabilities to strengthen revenue sources and market coverage[13] - The company will continue to procure top-tier animated content with strong commercial potential and fan engagement[13] - The company plans to continue expanding its media content distribution and brand licensing operations to drive future growth[24] - The company is exploring strategic investment opportunities in animation and film production to enhance business value[13] Employee and Operational Metrics - The company employed a total of 199 full-time and part-time employees as of September 30, 2025, an increase from 181 employees as of March 31, 2025[65] - Selling and distribution expenses decreased by 9.8% to HKD 54.8 million, attributed to lower withholding tax expenses and reduced marketing costs[49] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 1.20 per share for the year ending March 31, 2026, compared to HKD 1.09 per share for the year ending March 31, 2025[41] - The company has confirmed an interim dividend of HKD 0.012 per share for the six months ending September 30, 2025, expected to be paid on January 16, 2026[72] Use of Proceeds - The company has utilized approximately HKD 184.0 million of the net proceeds from its listing, representing about 99.0% of the total net proceeds[68] - The company plans to allocate 54.8% of the net proceeds, approximately HKD 101.8 million, to expand its media content portfolio[70] - 17.5% of the net proceeds, around HKD 32.6 million, will be used to expand brand licensing business[70] - 6.9% of the net proceeds, approximately HKD 12.9 million, is allocated for relocating and renovating the new office in Hong Kong[70] Governance and Compliance - The company has maintained sufficient public float, with at least 25% of issued shares held by the public[75] - The company has complied with the corporate governance code, except for the dual role of the chairperson and CEO held by Ms. Zhao[76] - No significant events affecting the company's operational and financial status have occurred after the reporting period[79]

Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 178,166,000, a decrease of 24.4% compared to HKD 235,785,000 for the same period in 2024[8] - Gross profit for the same period was HKD 7,353,000, down 69.3% from HKD 23,998,000 year-on-year[8] - The company reported a loss before tax of HKD 20,102,000, compared to a profit of HKD 10,385,000 in the previous year[8] - Basic loss per share was HKD 2.52, compared to earnings of HKD 1.13 per share in the same period last year[8] - The company incurred a total comprehensive loss of HKD (20,139) thousand for the six months ended September 30, 2025, compared to a total comprehensive income of HKD 9,010 thousand for the same period in 2024[10] - The group recorded a loss attributable to owners of approximately HKD 20.1 million for the period, compared to a profit of HKD 9.0 million in the previous period[65] Assets and Liabilities - Non-current assets decreased to HKD 54,856,000 from HKD 65,686,000 as of March 31, 2025[9] - Current assets increased to HKD 334,945,000 from HKD 313,660,000 as of March 31, 2025[9] - Current liabilities rose to HKD 264,418,000 from HKD 233,621,000 as of March 31, 2025[9] - Total equity decreased to HKD 124,789,000 from HKD 144,928,000 as of March 31, 2025[9] - The company’s total equity as of September 30, 2025, was HKD 124,789 thousand, down from HKD 166,130 thousand as of September 30, 2024, representing a decrease of approximately 24.9%[10] - The company’s retained earnings decreased to HKD 80,457 thousand as of September 30, 2025, from HKD 121,798 thousand as of September 30, 2024, reflecting a decline of approximately 33.9%[10] Cash Flow - For the six months ended September 30, 2025, the company reported a net cash outflow from operating activities of HKD (16,666) thousand, compared to a net inflow of HKD 13,855 thousand for the same period in 2024[12] - The company reported a net cash outflow from investing activities of HKD (3,275) thousand for the six months ended September 30, 2025, compared to a net outflow of HKD (28,031) thousand in the same period of 2024, indicating an improvement in cash flow management[12] - The company’s financing activities resulted in a net cash outflow of HKD (340) thousand for the six months ended September 30, 2025, compared to a net inflow of HKD 5,348 thousand in the same period of 2024, reflecting a shift in financing strategy[12] Revenue Sources - The company generated HKD 177,969 thousand in customer contract revenue from renovation and construction services for the six months ended September 30, 2025, compared to HKD 235,588 thousand in the same period of 2024, indicating a decline of approximately 24.5%[21][22] - Property rental income for the six months ended September 30, 2025, was HKD 197 thousand, consistent with the same amount reported in the previous year[21][22] Employee Costs - Total employee costs for the period were HKD 15,741,000, a decrease of 2.75% from HKD 16,186,000 in the previous year[24] - The total employee cost for the period is approximately HKD 15.7 million, compared to HKD 16.2 million for the six months ending September 30, 2024[86] Investments and Loans - The company has a loan to a joint venture amounting to HKD 56,378,000 as of September 30, 2025, with a provision for credit losses of HKD 30,480,000[32] - The company has committed to provide a shareholder loan of HKD 40 million to the joint venture Acasa during the property reconstruction period, with no loans provided as of September 30, 2025[70] Shareholder Information - As of September 30, 2025, Mr. Liang and Mr. Ho each hold 574,170,000 shares, representing approximately 71.8% of the company's ordinary shares[87] - The major shareholders, Sharp Talent and Diamondfield, are considered to hold a combined interest of 71.0% in the company's issued share capital[92] Corporate Governance - The Audit Committee has been established in accordance with the corporate governance code and GEM listing rules, consisting of three independent non-executive directors[100] - The Audit Committee is responsible for recommending the appointment, reappointment, and removal of external auditors to the Board[100] - The current executive directors include Mr. Leung Ka Ho and Mr. Ho Chi Kwan, with independent non-executive directors including Ms. Ho Wing Shan, Mr. Leung Hung Kwong, Mr. Mei Yi Wo, and Mr. Qiu Si Yang[103]

Financial Performance - The group's revenue for the six months ended September 30, 2025, was approximately HKD 6.63 million, an increase of about 1.3% compared to HKD 6.55 million for the same period in 2024[10]. - The total comprehensive loss attributable to owners of the company for the six months ended September 30, 2025, was approximately HKD 5.0 million, representing an increase of about 104.0% compared to HKD 2.45 million for the same period in 2024[10]. - The company reported a net loss attributable to shareholders of 4,844,000 HKD for the six months ended September 30, 2025, compared to a net loss of 2,588,000 HKD in the same period of 2024, indicating a deterioration in performance[41]. - The company incurred a net loss of HKD 5,004,000 for the six months ended September 30, 2025, compared to a loss of HKD 2,588,000 in the previous period[18]. - The basic and diluted loss per share attributable to owners of the company was HKD 0.002, compared to HKD 0.001 in the previous year[11]. Revenue Breakdown - Revenue from the food supply business was HKD 5,801,000, up 10.4% from HKD 5,254,000 year-over-year[21]. - Revenue from financial institution cooperation services decreased to HKD 829,000, down 35.8% from HKD 1,291,000 in the previous year[21]. - The company's restaurant supply service revenue accounted for 87.5% of total revenue for the six months ended September 30, 2025[60]. - For the six months ended September 30, 2025, the company's revenue from the restaurant supply service was approximately HKD 5.8 million, representing an increase of about 10.4% from approximately HKD 5.3 million in the previous year[60]. Expenses and Costs - The cost of sales and consumed inventory for the six months ended September 30, 2025, was HKD 2.24 million, a decrease from HKD 4.97 million in the previous year[11]. - Employee benefit expenses for the same period were HKD 1.78 million, compared to HKD 1.59 million in 2024[11]. - The company reported a significant increase in depreciation and amortization expenses, with property, plant, and equipment depreciation at 330,000 HKD for the six months ended September 30, 2025, compared to 11,000 HKD in the same period of 2024[38]. - Other expenses decreased to approximately HKD 1.8 million from HKD 2.4 million, representing about 27.8% and 36.8% of total revenue for the respective periods[66]. Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 128,157,000, slightly up from HKD 128,022,000 as of March 31, 2025[12]. - Non-current liabilities increased to HKD 130,573,000 from HKD 126,741,000, primarily due to an increase in amounts payable to former directors[13]. - The total liabilities as of September 30, 2025, were HKD 195,127,000, an increase from HKD 190,718,000 as of March 31, 2025[13]. - The total equity attributable to owners of the company decreased to HKD (71,951,000) as of September 30, 2025, from HKD (67,531,000) as of March 31, 2025[14]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 1,621,000 for the six months ended September 30, 2025, a significant decrease from HKD 64,599,000 in the same period last year[15]. - Cash and cash equivalents at the end of the period were HKD 1,976,000, up from HKD 171,000 at the beginning of the period[15]. - Restricted cash deposits were HKD 69,020,000, up from HKD 67,567,000, earning interest rates between 1.8% and 4.1%[48]. Corporate Governance and Compliance - The audit committee has reviewed the unaudited consolidated results for the six months ended September 30, 2025, and confirmed compliance with applicable accounting standards and GEM listing rules[94]. - The company has established an audit committee to oversee financial reporting and internal control procedures, consisting of independent non-executive directors[94]. - The company has complied with the corporate governance code, except for the combined role of the chairman and CEO, which is under review[92]. - The company did not declare any dividends for the six months ended September 30, 2025, consistent with the previous year[39]. Business Development and Strategy - The company actively seeks other business development directions, including entering the food ingredient sales business[59]. - The company believes that the recovery of inbound tourism and government support measures will benefit its restaurant business development[57]. - The company opened a new Chinese restaurant in February 2025, which contributed to the revenue during the reporting period[57]. - The company has not reported any new product developments or market expansion strategies in the current announcement[10].

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 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之任 何 損 失 承 擔 任 何 責 任。 EVERCHINA INT'L HOLDINGS COMPANY LIMITED 潤中國際控股有限公司 （於 香 港 註 冊 成 立 之 有 限 公 司） （股 份 代 號：202） 截至二零二五年九月三十日止六個月 未經審核中期業績 財務摘要 – 1 – • 收益為約74,282,000港 元，較 二 零 二 四 年 同 期 增 加61%。 • 本期間虧損為23,626,000 港 元，較 二 零 二 四 年 同 期 虧 損 減 少 約65%。 • 董事會不建議就截至二零二五年九月三十日止六個月派付中期股 息（截 至 二 零 二 四 年 九 月 三 十 日 止 六 個 月：無）。 • 於 二 零 二 五 年 九 月 三 十 日，權 益 總 額 為1,083,364,000港 元，較 於 二 零 二五年三月三十一日之1,096,429, ...