Financial Performance - The company's revenue increased by 60.0% from RMB 27,751.53 million for the year ended December 31, 2024, to RMB 44,400.07 million for the year ended December 31, 2025[2]. - Net profit rose by 148.4% from RMB 843.63 million in 2024 to RMB 2,095.22 million in 2025[2]. - Basic earnings per share increased by 149.6% from RMB 0.3336 in 2024 to RMB 0.8326 in 2025[2]. - Operating profit grew significantly to RMB 3,125.77 million in 2025, compared to RMB 1,205.40 million in 2024[3]. - The company reported a total comprehensive income of RMB 2,185.55 million for 2025, compared to RMB 768.77 million in 2024[4]. - The company achieved a revenue of RMB 44.4 billion, representing a 60.0% year-over-year growth, and a profit of RMB 2.095 billion, up 148.4% from the previous year[46]. Assets and Liabilities - Total assets less current liabilities reached RMB 88,264.83 million in 2025, up from RMB 76,889.08 million in 2024[5]. - Non-current assets increased to RMB 101,037.64 million in 2025 from RMB 86,867.99 million in 2024, reflecting growth in property, plant, and equipment[5]. - Total liabilities rose from RMB 74,419.46 million in 2024 to RMB 95,098.52 million in 2025, an increase of 27.8%[74]. - As of December 31, 2025, the company's debt-to-asset ratio was 64.0%, up from 60.8% in 2024, and the debt-to-equity ratio was 91.3%, compared to 77.5% in 2024, indicating increased borrowing to support business growth and major investments[77]. Cash Flow and Investments - The company's cash and cash equivalents stood at RMB 9,637.70 million in 2025, compared to RMB 9,058.55 million in 2024, indicating strong liquidity[5]. - Operating cash inflow for the year ending December 31, 2025, was RMB 10,160.09 million, a significant increase of 226.4% compared to RMB 3,113.10 million in 2024[75]. - The company plans to continue monitoring its capital structure through debt-to-asset and debt-to-equity ratios to support sustainable business growth[77]. - The company had restricted assets with a total book value of RMB 22,167.70 million as of December 31, 2025, used for obtaining bank loans and other financing[81]. Research and Development - Research and development expenses increased to RMB 2,142.56 million in 2025 from RMB 1,417.61 million in 2024, indicating a focus on innovation[3]. - The company is committed to technological innovation, with advancements in high-performance battery technologies, achieving a specific energy density of 360Wh/kg for high-nickel cylindrical batteries[61]. - The company is leveraging AI technology in R&D and manufacturing to enhance efficiency and establish a new benchmark in intelligent manufacturing[61]. Market and Sales - Sales of power batteries contributed RMB 30,299 million in 2025, up from RMB 19,551 million in 2024, representing a growth of 55%[13]. - Revenue from major customer A was RMB 7,420 million in 2025, compared to RMB 3,622 million in 2024, indicating a growth of 105%[18]. - Revenue from energy storage systems and others increased from RMB 8,200.63 million in 2024 to RMB 14,100.40 million in 2025, representing a growth of 71.9%[71]. Corporate Governance and Compliance - The company has adopted the "Standard Code" for securities trading by directors and supervisors, confirming compliance during the reporting period[90]. - The audit committee has reviewed the audited consolidated financial statements for the year ending December 31, 2025, confirming compliance with applicable accounting principles and full disclosure[96]. - The financial figures in the preliminary announcement for the year ending December 31, 2025, have been verified by the auditor, with no assurance provided on the preliminary announcement[97]. Future Outlook - The group anticipates an increase in production and revenue in the coming year, leading to expected growth in operating cash inflows[2]. - The company aims to achieve carbon neutrality in core operations by 2030 and throughout the value chain by 2040, focusing on clean energy consumption and zero-carbon technologies[66]. - The company plans to expand its commercial vehicle market through a one-stop electrification solution, enhancing operational cash flow and reducing total cost of ownership for logistics companies[63].

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的任何損失 承擔任何責任。 SV Vision Limited 華 美 樂 樂 有 限 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：8429） 截至二零二五年十二月三十一日止年度之 全年業績公告 香港聯合交易所有限公司（「聯交所」）GEM之特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的 公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審 慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣之證 券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 華美樂樂有限公司（「本公司」，連同其附屬公司統稱為「本集團」或「我們」）董事（「董事」）共 同 及 個 別 對 本 公 告 承 擔 全 部 責 任 ， 當 中 包 括 遵 照 聯 交 所 GEM 證 券 上 市 規 則（「 GEM ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 國泰海通證券股份有限公司 Guotai Haitong Securities Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02611） 截至2025年12月31日止年度之業績公告 國泰海通證券股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其 附屬公司（「本集團」）截至2025年12月31日止年度之經審計業績。本公告載列本 公司2025年年度報告全文，並符合香港聯合交易所有限公司證券上市規則中有關 年度業績初步公告附載的資料之要求。 本公司審計委員會已審閱本集團截至 2025 年 1 2 月 3 1 日止年度之年度業 績。2025 年年度報告及本業績公告將分別在香港聯合交易所有限公司網站 ( www.hkexnews.hk )及本公司網站( www.gtht.com )上刊發。 本公司將於適當時候在香港聯合交易所有限公司網站及本公司網站刊載2025年年 度報告 ...

Financial Performance - For the fiscal year ending December 31, 2025, revenue was approximately RMB 1,843 million, an increase of about 3.6% compared to 2024[1] - Gross profit for the fiscal year ending December 31, 2025, was approximately RMB 384 million, reflecting an increase of about 4.6% from 2024[1] - Net profit for the fiscal year ending December 31, 2025, was approximately RMB 113 million, representing an increase of about 22.5% compared to 2024[1] - Basic earnings per share for the fiscal year ending December 31, 2025, was approximately RMB 0.115, an increase of about 10.4% from 2024[1] - The board of directors recommended a final dividend of HKD 0.025 per share for the fiscal year ending December 31, 2025, unchanged from 2024[1] Assets and Liabilities - Non-current assets totaled RMB 610,814 million in 2025, a decrease of 3.9% from RMB 631,306 million in 2024[3] - Current assets increased to RMB 1,411,706 million in 2025, up 7.9% from RMB 1,308,879 million in 2024[3] - Total liabilities for current liabilities decreased slightly to RMB 801,329 million in 2025 from RMB 803,007 million in 2024[4] - The net value of current assets rose to RMB 610,377 million in 2025, compared to RMB 505,872 million in 2024, reflecting a growth of 20.6%[4] - Total assets minus current liabilities reached RMB 1,221,191 million in 2025, an increase from RMB 1,137,178 million in 2024[4] Revenue Streams - Revenue from property management services was RMB 1,388,488 thousand in 2025, up from RMB 1,331,362 thousand in 2024, indicating a growth of approximately 4.3%[24] - Revenue from cleaning and greening services was RMB 327,084 thousand in 2025, reflecting a stable contribution to overall revenue[24] - Revenue from service contracts reached RMB 1,840,750 thousand in 2025, representing an increase from RMB 1,769,265 thousand in 2024, a growth of approximately 4.0%[22] - The company generated revenue solely from the mainland China market, with over 90% of non-current assets located in the same region[21] Expenses and Costs - The company’s total operating costs for 2025 are RMB 821,857,000, slightly up from RMB 812,902,000 in 2024[32] - Sales and service costs increased from approximately RMB 1,412 million for the year ending December 31, 2024, to approximately RMB 1,459 million for the year ending December 31, 2025, an increase of 3.3% driven by corresponding revenue growth[70] - The company recognized impairment losses totaling CNY 29,782,000 across its segments[16] Equity and Dividends - The company's total equity increased to RMB 1,182,927 million in 2025, compared to RMB 1,097,860 million in 2024, reflecting a growth of 7.7%[4] - The proposed final dividend for the year ending December 31, 2025, is HKD 0.025 per share, consistent with the previous year[37] Corporate Governance - The company has adhered to all corporate governance codes except for the separation of the roles of Chairman and CEO, which are held by the same individual[95] - The board consists of four executive directors, two non-executive directors, and three independent non-executive directors, ensuring a balanced governance structure[96] - The Audit Committee, composed of three independent non-executive directors, has reviewed the group's annual performance up to December 31, 2025[97] Market Position and Strategy - The group maintains its position in 31 cities across China, focusing on strategic market expansion in economically developed areas[56][57] - The group aims to strengthen internal growth through existing customer relationships and is actively seeking suitable acquisition targets to enhance its portfolio in China[56] - The company aims to expand its service offerings to non-residential properties, including schools and commercial buildings, to diversify its revenue streams[55] Employee and Operational Insights - The company has approximately 9,356 employees as of December 31, 2025, a slight increase from 9,351 in 2024[85] - The company maintains strict credit control over its trade receivables, with a review of overdue balances conducted regularly by senior management[43] Future Outlook - The company will hold its Annual General Meeting on May 29, 2026, and will suspend share registration from May 26 to May 29, 2026[93] - The company is in the process of establishing a joint venture with Guangdong Xunhua Electric Technology Co., Ltd. and other parties, as per the agreement signed on January 9, 2026[88]

Financial Performance - Total revenue for the year ended December 31, 2025, increased by 7.7% to RMB 488.4 million from RMB 453.5 million for the year ended December 31, 2024[3]. - Profit after tax for the year ended December 31, 2025, rose by 7.4% to RMB 40.7 million compared to RMB 37.9 million for the year ended December 31, 2024[3]. - Basic earnings per share attributable to equity holders for the year ended December 31, 2025, was RMB 6.02 cents, down from RMB 6.51 cents in 2024[5]. - Diluted earnings per share attributable to equity holders for the year ended December 31, 2025, was RMB 5.72 cents, compared to RMB 6.48 cents in 2024[5]. - Gross profit for the year ended December 31, 2025, was RMB 105.7 million, an increase from RMB 99.8 million in 2024[5]. - Contract revenue with customers for 2025 reached RMB 432,612,000, an increase of 9.3% from RMB 395,667,000 in 2024[29]. - Property management services and other value-added services generated revenue of RMB 319,529,000 in 2025, up 17.5% from RMB 272,154,000 in 2024[30]. - The company's profit before tax for 2025 was impacted by service costs of RMB 378,028,000, compared to RMB 343,681,000 in 2024[33]. - The income tax expense for 2025 was RMB 7,482,000, an increase from RMB 6,377,000 in 2024[34]. - Basic earnings per share for 2025 decreased to RMB 33,361,000 from RMB 37,014,000 in 2024, reflecting a decline of 10.0%[39]. - Net profit for the reporting period increased by 7.4% to RMB 40.7 million for the year ending December 31, 2025, from RMB 37.9 million for the year ending December 31, 2024, while the net profit margin decreased from 8.4% to 8.3%[82]. Assets and Liabilities - Total assets less current liabilities as of December 31, 2025, amounted to RMB 598.4 million, up from RMB 538.4 million in 2024[6]. - Non-current assets totaled RMB 378.9 million as of December 31, 2025, a decrease from RMB 394.8 million in 2024[6]. - Current liabilities increased to RMB 334.0 million as of December 31, 2025, compared to RMB 296.4 million in 2024[6]. - The company reported a net cash position of RMB 178.6 million in cash and cash equivalents as of December 31, 2025, compared to RMB 169.1 million in 2024[6]. - The company’s equity attributable to owners increased to RMB 313.2 million as of December 31, 2025, from RMB 268.7 million in 2024[7]. - Trade receivables from related parties decreased to RMB 45,764,000 in 2025 from RMB 75,560,000 in 2024, a reduction of 39.5%[41]. - Total trade receivables decreased to RMB 190,032,000 in 2025 from RMB 203,292,000 in 2024, a decline of 6.5%[41]. - Inventory decreased significantly to RMB 13,002,000 in 2025 from RMB 23,981,000 in 2024, a drop of 45.3%[40]. - Trade payables decreased to RMB 40,636,000 in 2025 from RMB 55,532,000 in 2024, a decrease of 26.8%[48]. - The capital-to-debt ratio as of December 31, 2025, was 25.2%, up from 3.28% as of December 31, 2024, primarily due to increased bank borrowings for business development[98]. - Contract liabilities increased to RMB 77.5 million as of December 31, 2025, from RMB 55.8 million as of December 31, 2024, due to overall business expansion[91]. Subsidiaries and Business Operations - The company has established multiple subsidiaries in China, focusing on property management, office leasing, and construction management, with ownership percentages ranging from 31% to 100%[12][13][14]. - The registered capital for the subsidiaries varies, with the largest being RMB 20 million for Sichuan Deshang Smart Green Property Management Co., Ltd.[12]. - The company has a significant presence in the property management sector, with subsidiaries like Chengdu Zhongneng Property Management Co., Ltd. and Chengdu Shande Zhimai Real Estate Brokerage Co., Ltd. fully owned[12]. - The company has recently expanded its office leasing operations, with several subsidiaries established in 2022 and 2023, including Chengdu Deshang Yongrun Commercial Management Co., Ltd. and Sichuan Shangxing Guanghui Commercial Management Co., Ltd.[12][13]. - The subsidiaries listed are expected to have a major influence on the company's performance and constitute a significant part of the group's net assets[14]. - The company has established a diverse portfolio of subsidiaries, with varying degrees of ownership, to enhance its market presence and operational capabilities in the property management sector[12][13]. Compliance and Reporting - The company is compliant with International Financial Reporting Standards (IFRS) and has prepared its consolidated financial statements accordingly[15][16]. - The financial statements are presented in Renminbi (RMB), reflecting the primary economic environment of the company's main subsidiaries[17]. - The company has restructured its reporting framework to monitor the performance of its business segments, which include property services, asset operation services, and investment and development segments[22][23]. - The company plans to adopt new IFRS standards effective from January 1, 2025, which may not significantly impact its financial performance[18][19][20]. - The financial data presented does not constitute audited accounts for the year ending December 31, 2025, and is extracted from the consolidated financial statements audited by the company's auditor[114]. Strategic Focus and Market Position - The company is focusing on urban asset management and enhancing service quality in response to industry adjustments and competition[56]. - The strategic shift in the property industry emphasizes quality improvement and operational efficiency rather than mere expansion[57]. - The company aims to transition from single property management to comprehensive asset operation services, leveraging financial innovations like public REITs[58]. - The business segments include property services, asset operation services, and investment and development, focusing on a comprehensive service ecosystem[59]. - The group faces significant competition in the property management sector, with increasing pressure from listed competitors seeking to acquire quality property management companies in China[105]. - The group is committed to optimizing resource allocation and enhancing operational efficiency to mitigate risks associated with regulatory changes and intensified market competition[105]. Employee and Corporate Governance - As of December 31, 2025, the group had 1,333 employees, an increase from 1,235 employees as of December 31, 2024[104]. - Employee compensation, including directors' remuneration, amounted to RMB 122.8 million for the reporting period, up from RMB 100.6 million for the year ended December 31, 2024, reflecting a significant increase in payroll expenses[104]. - The company has adopted a share incentive plan to reward eligible participants for their contributions and to attract suitable personnel for further development[104]. - The board has resolved not to recommend any final dividend for the year ended December 31, 2025[112]. - The audit committee, composed of three independent non-executive directors, has reviewed the group's annual performance and financial statements for the year ended December 31, 2025[111]. - The board of directors includes both executive and non-executive members, with specific roles outlined[118]. Future Outlook - The company aims to build an integrated asset management model focusing on fundraising, investment, management, and exit strategies to maximize asset value and establish a sustainable development framework[100]. - The annual performance announcement will be published on the Stock Exchange and the company's website, with the 2025 annual report to follow at an appropriate time[115].

（於開曼群島註冊成立之有限公司） （股份代號：6093） 截 至2025年12月31日止年度之年度業績公告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 備 性 亦 不 發 表 任 何 聲 明，且 表 明 不 會 就 因 本 公 告 全 部 或 任 何 部 分 內容或因倚賴該等內容而引致之任何損失承擔任何責任。 財務概要 – 1 – • 截 至2025年12月31日止年度，本集團的總收入約為 人民幣1,356.7百萬元，較 2024年同期的約 人民幣1,365.1百萬元 減 少 約人民幣8.4百萬元或約0.6%。 • 截 至2025年12月31日 止 年 度，本 集 團 的 毛 利 約 為 人民幣306.3百萬元，較 2024年同期的約 人民幣349.6百萬元 減 少 約人民幣43.3百萬元或約12.4%。截 至2025年12月31日 止 年 度，本 集 團 的 整 體 毛 利 率 約 為22.6%，較2024年同期 的 約25.6%下降約3.0%。 • 截 至2025年12月31日 止 年 度，本 集 團 的 除 所 得 稅 後 虧 損 約為人民幣48 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不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。 (股份代號: 1871) 截至 2025 年 12 月 31 日止年度之全年業績公告 業績 董事會欣然公佈本集團截至 2025 年 12 月 31 日止年度之經審核綜合業績，連同截至 2024 年 12 月 31 日止年度之比較數字，該等比較數字乃摘錄自本公司 2024 年年報所載之本集團經審核綜合財務報表。 專有詞彙及若干技術詞彙具有本公告「釋義及技術詞彙」一段所界定的涵義。「我們」一詞指本公司， 倘文義另有所指，則指本集團。 綜合損益及其他全面收益表 截至 2025 年 12 月 31 日止年度 CHINA ORIENTED INTERNATIONAL HOLDINGS LIMITED 向中國際控股有限公司 ( 於開曼群島註冊成立的有限公司 ) | | | 2025 | 2024 | | --- | --- | --- | --- | | | 附註 | 人民幣千元 | 人民幣千元 | | 收益 | 4 ...

Financial Performance - For the fiscal year ending December 31, 2025, the company reported total revenue of RMB 350,756,000, a decrease of 5% from RMB 369,101,000 in 2024[3] - The gross profit for the same period was RMB 59,497,000, slightly up from RMB 59,266,000 in 2024, indicating a stable gross margin[3] - The company incurred a net loss of RMB 71,461,000 for the year, compared to a net loss of RMB 79,325,000 in 2024, reflecting an improvement in financial performance[4] - The group reported a total loss before tax of RMB 54,980,000 for the year ending December 31, 2025[17] - The net profit margin improved to -20.4% for the year ending December 31, 2025, compared to -21.5% for the previous year, primarily due to a reduction in impairment losses of approximately RMB 23.5 million[56] - The net loss for the year ending December 31, 2025, was approximately RMB 71.5 million, narrowing from a net loss of RMB 79.3 million for the year ending December 31, 2024[57] Assets and Liabilities - The total assets decreased significantly to RMB 300,000,000 from RMB 367,000,000 in 2024, indicating a reduction in the company's asset base[6] - The company's current liabilities increased to RMB 287,072,000 from RMB 273,193,000 in 2024, suggesting a tightening liquidity position[6] - The net current liabilities reached RMB 61,425,000, compared to RMB 28,015,000 in 2024, raising concerns about the company's short-term financial health[6] - The company has a total equity of RMB 6,393,000, down from RMB 85,724,000 in 2024, reflecting a substantial decline in shareholder value[6] - As of December 31, 2025, total equity attributable to the company's owners was negative RMB 20.5 million, compared to positive RMB 34.1 million as of December 31, 2024[58] - The company’s net current liabilities increased to approximately RMB 61.4 million as of December 31, 2025, from RMB 28.0 million as of December 31, 2024[60] Revenue Breakdown - Revenue from real estate agency services decreased to RMB 719,000 in 2025 from RMB 6,753,000 in 2024, representing a decline of approximately 89.3%[15] - Property management service revenue remained stable at RMB 303,049,000 in 2025 compared to RMB 303,733,000 in 2024, showing a slight decrease of 0.2%[15] - The professional property management services segment generated revenue of approximately RMB 350.0 million, down 3.4% from RMB 362.3 million in 2024, primarily due to a decrease in non-owner value-added services and community value-added services[42] - Non-owner value-added services recorded revenue of approximately RMB 8.8 million, a decrease of 32.6% from RMB 13.1 million in 2024, attributed to reduced demand from real estate developers facing operational difficulties[44] - Community value-added services generated revenue of approximately RMB 38.2 million, down 16.2% from RMB 45.5 million in 2024, primarily due to decreased demand from owners[45] Impairment and Provisions - The net impairment loss on financial assets for the year ending December 31, 2025, was RMB 66,605,000, compared to RMB 90,062,000 for the previous year[19][20] - The company recognized an impairment loss of RMB 14,436,000 on receivables from related companies during the year, compared to RMB 22,605,000 in 2024[36] - The expected credit loss provision for a deposit related to property acquisition was approximately RMB 3,501,000 in 2025, compared to RMB 11,000 in 2024[33] - The company has recognized an expected credit loss of approximately RMB 3.5 million related to a conditional payment of RMB 4.0 million due to a failed property exchange agreement[80] Operational Strategies - The group is implementing cost-cutting measures and comprehensive cash flow monitoring policies to improve financial stability[11] - The group aims to continue its strategy of prudent and sustainable growth while actively addressing current market challenges and seizing new opportunities in the property management industry[40] - The company emphasizes a cautious and sustainable development principle, prioritizing profit over scale and compliance with regulatory requirements[68] Future Outlook - The group anticipates generating positive cash flow from operations in the foreseeable future[11] - The property management industry is at a critical turning point, with leading companies adding approximately 123 million square meters of new contract area in the first two months of 2026, indicating a shift towards quality-oriented growth[66] - By 2027, a comprehensive implementation of AI-driven procurement systems is expected, marking a shift in data literacy from operational advantage to a competitive necessity[67] Shareholder and Governance - The group has confirmed financial support from shareholders to ensure ongoing operations and timely debt repayment in the foreseeable future[11] - The annual general meeting is scheduled for June 18, 2026, with details to be published on the company's website and the Hong Kong Stock Exchange[77] - The board does not recommend a final dividend for the year ending December 31, 2025, consistent with the previous year[79]

Financial Performance - Total operating revenue for 2025 was approximately RMB 1,236.8 million, a decrease of about 7% compared to 2024[5] - Net profit for 2025 was approximately RMB 116.3 million, down approximately 38.8% year-on-year[5] - Net profit attributable to the parent company was approximately RMB 109.2 million, a decrease of about 38.4% compared to 2024[5] - Basic earnings per share for 2025 were approximately RMB 0.13, down about 38.1% from the previous year[5] - The company reported a total comprehensive income of RMB 116.29 million for 2025, down from RMB 189.94 million in 2024[7] - Net profit for the year ended December 31, 2025, was RMB 116,262,000, down from RMB 189,935,000 in 2024, a decrease of 38.7%[21] - The gross profit for the reporting period was RMB 413.5 million, a decrease of 10.7% from RMB 462.8 million in 2024, with a gross margin of 33.4%[53] - The company reported a net profit of RMB 116.3 million, a decrease of 38.8% from RMB 189.9 million in 2024, resulting in a net profit margin of 9.4%[56] Revenue Breakdown - Water supply business revenue was RMB 406,695,000 in 2025, down from RMB 414,131,000 in 2024, representing a decline of 1.1%[21] - Wastewater treatment revenue increased to RMB 715,118,000 in 2025 from RMB 660,047,000 in 2024, marking an increase of 8.3%[21] - The engineering business revenue significantly decreased to RMB 103,442,000 in 2025 from RMB 238,850,000 in 2024, a decline of 56.7%[21] - Total revenue for the year ended December 31, 2025, was RMB 1,236,777,000, a decrease of 7.0% from RMB 1,330,267,000 in 2024[21] - The revenue from installation services was RMB 103.4 million, a significant decrease of 56.7% from RMB 238.9 million in 2024, primarily due to a downturn in the real estate market[48] Assets and Liabilities - Total assets as of December 31, 2025, were RMB 7,201.9 million, slightly up from RMB 7,188.1 million in 2024[8] - Total liabilities as of December 31, 2025, were RMB 3,988.2 million, a slight decrease from RMB 4,039.6 million in 2024[9] - Total assets as of December 31, 2025, were RMB 7,172,885,000, slightly up from RMB 7,165,789,000 in 2024[23] - Total liabilities as of December 31, 2025, were RMB 3,983,669,000, down from RMB 4,034,688,000 in 2024, a decrease of 1.3%[23] Cash Flow and Financing - Cash and cash equivalents increased to RMB 605.99 million from RMB 447.18 million in 2024[8] - Short-term borrowings rose significantly from RMB 119.4 million in 2024 to RMB 483.3 million in 2025, due to the reclassification of some long-term loans as short-term[62] - Total borrowings at the end of the reporting period were approximately RMB 2,915.8 million, with about 51.9% subject to floating interest rates[70] - Cash and bank balances increased to approximately RMB 606.0 million at the end of the reporting period, up from RMB 447.2 million in 2024[70] Corporate Governance - The company maintains a high level of corporate governance to protect shareholder interests and enhance corporate value[94] - The company has complied with all applicable provisions of the corporate governance code, except for specific deviations noted[96] - The company has adopted a standard code for securities trading by directors and employees, confirming compliance during the reporting period[97] - The audit committee reviewed the annual performance announcement and the consolidated financial statements for the reporting period[85] Dividends - The board proposed a final dividend of RMB 0.04 per share, totaling approximately RMB 34.39 million, subject to shareholder approval[4] - The company will withhold a 10% corporate income tax on dividends paid to non-resident corporate shareholders under Chinese tax law[80] - The final dividend will be distributed to shareholders listed on the register as of July 15, 2026, with a cutoff for share transfer documents by July 10, 2026[83] Operational Insights - The company is focusing on expanding its market in direct drinking water supply and industrial wastewater treatment to enhance its risk resistance and sustainable development capabilities[42] - The company is leveraging AI and big data technologies to improve operational efficiency and decision-making processes in the water and environmental protection industry[41] - The company achieved a total operating revenue of RMB 1,236.8 million, a decrease of 7.0% compared to RMB 1,330.3 million in the same period of 2024[46] - Total water sales volume was approximately 165.1 million tons, a decrease of 0.6% from about 166.0 million tons in 2024, primarily due to changes in water usage structure[44] - The company operates 12 water supply plants with a total daily supply capacity of approximately 784,000 tons, with an average utilization rate of 70.0%[44] - The company operates 8 urban wastewater treatment plants with a total daily treatment capacity of approximately 533,000 tons, with a production load rate of 75.81%[45] - The company has 224 rural wastewater treatment facilities with a total daily treatment capacity of 59,000 tons, a decrease of 68 facilities compared to 2024[45]

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 全部或任何部份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。 BOLTEK HOLDINGS LIMITED 寶 控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8601） 截至二零二五年十二月三十一日止年度的 年度業績公告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的特色 GEM乃為較在聯交所上市的其他公司帶有較高投資風險的中小型公司提供上 市 市 場。有 意 投 資 者 應 了 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 考 慮 後 方 作 出 投 資 決 定。 由 於GEM上 市 公 司 一 般 為 中 小 型 公 司，在GEM買賣的證券可能會較於聯交所 主 板 買 賣 的 證 券 承 受 較 大 市 場 波 動 風 險，同 時 無 法 保 證 在GEM買賣的證券會 有 高 流 通 量 的 市 場。 本公告乃遵照聯交所GEM證 ...