Financial Performance - Operating revenue for the third quarter was RMB 3,541,368,113.69, a decrease of 3.03% compared to the same period last year[8] - Total profit for the quarter reached RMB 156,866,203.89, an increase of 75.06% year-on-year[8] - Net profit attributable to shareholders was RMB 146,651,458.37, reflecting a significant increase of 122.98% compared to the previous year[8] - Basic earnings per share for the quarter were RMB 0.03, a 50.00% increase from the same period last year[8] - Total revenue for the first three quarters of 2025 was approximately ¥14.45 billion, a decrease of 8.5% compared to ¥15.79 billion in the same period of 2024[34] - Net profit for the first three quarters of 2025 was approximately ¥1.75 billion, slightly up from ¥1.73 billion in 2024, indicating a growth of 1.5%[36] - Total comprehensive income for the first three quarters of 2025 reached ¥1,750,130,657.00, a slight increase of 1.4% compared to ¥1,726,180,812.21 in the same period of 2024[39] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.37, up from ¥0.35 in the same period of 2024, reflecting a growth of 5.7%[39] - Net profit for the first three quarters of 2025 was CNY 1,241,994,807.31, down 35.8% from CNY 1,933,370,884.49 in the first three quarters of 2024[54] Cash Flow - The net cash flow from operating activities was RMB 2,469,660,739.32, up 212.72% year-on-year[8] - Cash inflow from operating activities totaled ¥16,938,628,265.95 in the first three quarters of 2025, an increase of 7.6% from ¥15,738,041,610.22 in 2024[42] - Net cash flow from operating activities for the first three quarters of 2025 was ¥5,551,566,311.30, significantly higher than ¥2,885,813,484.71 in 2024, marking an increase of 92.5%[43] - Cash inflow from financing activities for the first three quarters of 2025 amounted to 1.5 billion, compared to 172.57 million in the same period of 2024[61] - Net cash flow from financing activities for the first three quarters of 2025 was -782.74 million, a decrease from -2.32 billion in the first three quarters of 2024[61] - The ending cash and cash equivalents balance for the first three quarters of 2025 was 629.38 million, up from 266.83 million in the same period of 2024[61] Assets and Liabilities - Total assets at the end of the reporting period were RMB 87,309,827,369.40, representing a 3.92% increase from the end of the previous year[10] - The company's total liabilities as of September 30, 2025, amounted to approximately ¥57.36 billion, an increase from ¥56.90 billion at the end of 2024[31] - Current liabilities totaled approximately ¥19.91 billion as of September 30, 2025, compared to ¥22.60 billion at the end of 2024, showing a decrease of 12%[29] - Non-current liabilities increased to approximately ¥37.44 billion as of September 30, 2025, from ¥34.30 billion at the end of 2024, representing an increase of 6.2%[31] - The company's total equity as of September 30, 2025, was approximately ¥29.95 billion, up from ¥27.11 billion at the end of 2024, reflecting an increase of 10.5%[32] - Total liabilities as of September 30, 2025, amounted to CNY 2,225,216,989.28, a decrease of 38.2% from CNY 3,598,357,543.13 at the end of 2024[50] - Total equity increased to CNY 19,413,172,084.71 as of September 30, 2025, up 10.7% from CNY 17,534,257,760.69 at the end of 2024[51] Shareholder Information - As of September 30, 2025, the total number of shareholders is 39,209, with 38,094 A-share shareholders and 1,115 H-share shareholders[18] - The top 10 shareholders hold a total of 4,112,000,000 shares, representing 92.85% of the total shares[20] - Hebei Construction Investment Group holds 2,058,841,253 shares, accounting for 48.95% of the total shares[20] - HKSCC Nominees Limited holds 1,835,962,285 shares, representing 43.65% of the total shares[20] Operational Insights - The company reported a decrease in natural gas sales volume compared to the same period last year, impacting revenue[17] - The increase in net profit was primarily due to a reduction in costs and expenses compared to the previous year[17] - The company expects continued growth in cash flow from sales of goods and services, driven by increased cash receipts[17] - The company has not reported any changes in the participation of major shareholders in securities lending or margin trading activities[25] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[56] Research and Development - Research and development expenses for the first three quarters of 2025 were approximately ¥199.14 million, down from ¥255.87 million in 2024, indicating a decrease of 22%[34] - Research and development expenses for the first three quarters of 2025 were CNY 11,409,422.65, down 17.5% from CNY 13,828,036.97 in the first three quarters of 2024[53]

Financial Performance - Revenue for the third quarter was RMB 176.86 billion, a decrease of 1.30% compared to the same period last year[7]. - Net profit attributable to shareholders decreased by 16.34% year-on-year, amounting to RMB 4.08 billion[7]. - The company achieved a gross profit margin of 11.04%, down by 0.50 percentage points year-on-year[11]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, totaling RMB 11.70 billion, a decline of 13.45% year-on-year[7]. - Total operating revenue for the first three quarters of 2025 was CNY 513.92 billion, a decrease of 4.25% compared to CNY 536.64 billion in the same period of 2024[37]. - Net profit for the first three quarters of 2025 was CNY 18.21 billion, a decline of 13.4% from CNY 20.99 billion in 2024[38]. - The total profit for the first three quarters of 2025 was CNY 22.79 billion, down 10.4% from CNY 25.58 billion in 2024[38]. - For the first three quarters of 2025, the total comprehensive income attributable to the parent company was CNY 13,910,882,585, a decrease of 30.5% compared to CNY 20,022,875,470 in the same period of 2024[39]. - The company's basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.79, down from CNY 0.94 in the same period of 2024, a decrease of 16%[39]. Assets and Liabilities - Total assets increased by 9.76% year-on-year, reaching RMB 2,039.67 billion[6]. - The company's total liabilities increased to CNY 1.55 trillion as of September 30, 2025, compared to CNY 1.39 trillion at the end of 2024, reflecting a growth of 11.8%[34]. - Current liabilities totaled CNY 981.20 billion as of September 30, 2025, up from CNY 868.81 billion at the end of 2024, representing an increase of 12.9%[34]. - Long-term borrowings rose to CNY 422.39 billion as of September 30, 2025, compared to CNY 392.95 billion at the end of 2024, marking an increase of 7.5%[34]. - The company's total equity increased to CNY 485.43 billion as of September 30, 2025, compared to CNY 467.81 billion at the end of 2024, indicating an increase of 3.3%[34]. - The total liabilities as of September 30, 2025, were CNY 138,118,912,256, compared to CNY 117,147,852,827 at the end of 2024, indicating an increase of 17.9%[48]. - The total equity of the company increased to CNY 157.56 billion as of September 30, 2025, compared to CNY 145.90 billion at the end of 2024[49]. Cash Flow - Operating cash flow for the quarter was RMB 11.51 billion, with a significant improvement compared to a net outflow of RMB 65.79 billion year-to-date[11]. - The net cash flow from operating activities for the first three quarters of 2025 was -CNY 65,790,413,885, an improvement from -CNY 77,028,344,565 in 2024, indicating a 14.4% reduction in cash outflow[42]. - Cash flow from operating activities for the first three quarters of 2025 was negative CNY 1.19 billion, an improvement from negative CNY 19.99 billion in the same period of 2024[56]. - Cash flow from financing activities generated a net inflow of CNY 15.33 billion in the first three quarters of 2025, compared to CNY 21.68 billion in the same period of 2024[57]. Contracts and Business Growth - The company completed 63% of its annual revenue target of RMB 771.94 billion for 2024, reflecting a 5.0% growth plan[11]. - New contracts signed from January to September 2025 amounted to RMB 1,339.97 billion, a year-on-year increase of 4.65%[19]. - The new contracts from overseas regions totaled RMB 284.06 billion (approximately USD 39.93 billion), a year-on-year increase of 7.13%[21]. - Infrastructure construction business contracts amounted to RMB 1,222.44 billion, while dredging business contracts were RMB 78.83 billion[20]. - The new contract value in emerging business areas reached RMB 466.38 billion, a year-on-year increase of 9.38%[22]. - The new contract value from energy engineering projects was RMB 79.48 billion, up 80.60% year-on-year, while agricultural and forestry projects saw a new contract value of RMB 10.88 billion, increasing by 72.77%[23]. - The total contract value for infrastructure investment projects was RMB 76.58 billion, a decrease of 5.33% year-on-year[25]. - The cumulative total for domestic operations was RMB 1,055.91 billion, reflecting a 4.00% increase compared to the same period last year, while overseas operations totaled RMB 284.06 billion, up 7.13%[24]. Shareholder Information - As of September 30, 2025, the total number of shares was 16,278,611,425, with A-shares accounting for 72.86% and H-shares for 27.14%[14]. - The company repurchased 9,715,200 A-shares, representing 0.39% of the free-floating A-shares and 0.0597% of the total shares[14]. - The top shareholder, China Communications Construction Group, holds 57.59% of the total shares[17]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 15.34 billion, a decrease of 12.0% from CNY 17.44 billion in 2024[37]. - Research and development expenses for the first three quarters of 2025 were CNY 103.14 million, an increase from CNY 88.92 million in the same period of 2024[52].

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份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 光大證券股份有限公司 Everbright Securities Company Limited （於中華人民共和國註冊成立的股份有限公司） （股份代號：6178） 趙陵 中國上海 2025年10月30日 於本公告日期，本公司董事會成員包括趙陵先生（董事長、執行董事）、劉秋明先 生（執行董事、總裁）、馬韌韜女士（非執行董事）、連涯鄰先生（非執行董事）、潘 劍雲先生（非執行董事）、尹岩武先生（非執行董事）、秦小徵先生（非執行董事）、 任永平先生（獨立非執行董事）、殷俊明先生（獨立非執行董事）、劉應彬先生（獨 立非執行董事）、陳選娟女士（獨立非執行董事）及呂隨啟先生（獨立非執行董事）。 1 重要內容提示 2025年第三季度報告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.09條和第13.10B條及香 港法例第571章證券及期貨條例第XIVA部刊發。 茲載列光大證券股份有限公司（「本公司」或「公司」 ...

Financial Position - As of September 30, 2025, the company's total assets amounted to RMB 114.32 billion, a slight decrease from RMB 115.57 billion at the end of 2024, representing a decline of approximately 1.1%[9] - The company's current assets increased to RMB 26.24 billion from RMB 24.95 billion, reflecting a growth of about 5.2%[9] - The total assets as of September 30, 2025, amounted to RMB 51,677,084,743.71, compared to RMB 50,028,321,403.84 at the end of 2024, reflecting a growth of 3.29%[15] - The total liabilities of the company decreased from RMB 78.00 billion to RMB 75.84 billion, indicating a decline of about 2.5%[11] - The total liabilities increased to RMB 20,277,657,297.90 from RMB 19,129,620,033.06, representing a rise of 5.98%[15] - The company's equity attributable to shareholders rose to RMB 33.87 billion from RMB 33.22 billion, an increase of approximately 2.0%[11] - The total equity attributable to shareholders reached RMB 31,399,427,445.81, an increase from RMB 30,898,701,370.78, reflecting a growth of 1.62%[15] Cash Flow and Liquidity - The cash and cash equivalents increased to RMB 3.16 billion from RMB 2.01 billion, marking a growth of about 57.1%[9] - Cash flow from operating activities for the current period is RMB 7,890,241,316.59, an increase from RMB 5,111,791,236.79 in the previous period, representing a growth of about 54.67%[23] - The total cash and cash equivalents at the end of the period is RMB 3,083,224,217.03, up from RMB 2,735,427,211.38 in the previous period, reflecting an increase of about 12.7%[23] - The company received RMB 5,029,905,937.01 from investment during the current period, significantly higher than RMB 219,737,741.57 in the previous period[23] Borrowings and Financial Expenses - Short-term borrowings decreased significantly from RMB 5.54 billion to RMB 3.09 billion, a reduction of approximately 44.4%[11] - The company's long-term borrowings increased to RMB 43.57 billion from RMB 42.32 billion, reflecting a growth of approximately 2.9%[11] - The company’s interest expenses for the current period are RMB 173,331,054.60, compared to RMB 157,108,265.25 in the previous period, marking an increase of approximately 10.3%[20] - The financial expenses decreased to RMB 1,111,951,457.59 from RMB 1,228,480,362.14, showing a reduction of 9.5%[18] Revenue and Profitability - The total operating revenue for the first nine months of 2025 reached RMB 9,409,209,465.91, an increase of 3.56% compared to RMB 9,086,035,630.63 in the same period of 2024[18] - The net profit attributable to the parent company was RMB 1,653,360,535.91, down 11.6% from RMB 1,870,194,345.78 in the previous year[18] - The company reported a net profit increase, with retained earnings rising to RMB 10.57 billion from RMB 9.87 billion, an increase of approximately 7.0%[11] - The basic earnings per share for the first nine months were RMB 0.1865, down from RMB 0.2097 in the same period last year[18] - The total profit for the current period is RMB 1,569,203,461.38, down from RMB 1,844,322,240.62 in the previous period, indicating a decrease of about 14.87%[20] - Net profit for the current period stands at RMB 1,569,203,461.38, compared to RMB 1,844,322,240.62 in the previous period, showing a decline of approximately 14.87%[20] Research and Development - Research and development expenses for the first nine months were RMB 902,531.27, a decrease of 73.3% from RMB 3,375,044.16 in the previous year[18] Other Income and Expenses - The company reported a total of RMB 301,952,101.34 in other income, up from RMB 270,775,236.24, indicating an increase of 11.5%[18] - The company reported a credit impairment loss of RMB 10,835,774.66 for the current period, which was not present in the previous period[20]

兖矿能源集团股份有限公司2025 年第三季度报告 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之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內 容而産生或依賴該等內容而引致之任何損失承擔任何責任。 兗礦能源集團股份有限公司 YANKUANG ENERGY GROUP COMPANY LIMITED * (在中華人民共和國（「中國」）註冊成立的股份有限公司) (股份代碼: 01171) 二○二五年第三季度業績報告 重要提示 本公告乃根據《證券及期貨條例》第 XIVA 部以及香港聯合交易所有限公司(「香港聯交所」)《證 券上市規則》第 13.09(2)(a)及 13.10B 條的披露義務而作出。 兗礦能源集團股份有限公司（「兗礦能源」、「本公司」或「公司」）董事會及董事、高級管理 人員保證本報告內容的真實、準確、完整，不存在虛假記載、誤導性陳述或者重大遺漏，並承擔 法律責任。 公司董事長李偉先生、財務總監趙治國先生及財務管理部部長郭慧先生聲明：保證業績報告中財 務報表信息的真實、準確、完整。 本業績報告財務報告未經審計。 「報告期」是指 2025 年 7 ...

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。 SHENZHEN HEPALINK PHARMACEUTICAL GROUP CO., LTD. （深圳市海普瑞藥業集團股份有限公司） （於中華人民共和國註冊成立的股份有限公司） （股份代號：9989） 2025年第三季度報告 本公司及董事會全體成員保證信息披露的內容真實、準確、完整，沒有虛假記 載、誤導性陳述或重大遺漏。 本公告乃根據證券及期貨條例（香港法例第571章）第XIVA部及香港聯合交易所有 限公司證券上市規則第13.09條及第13.10B條而發表。 以下為深圳市海普瑞藥業集團股份有限公司（「本公司」或「公司」或「海普瑞」，連 同其附屬公司稱為「本集團」或「我們」）截止2025年9月30日止九個月（「報告期」）的 二零二五年第三季度報告，其所載財務報告根據中國企業會計準則編製，並且未 經審計。 承董事會命 深圳市海普瑞藥業集團股份有限公司 董事長 李鋰 中國深圳 二零二五年十月三十日 於本公告 ...

Financial Performance - For the third quarter of 2025, the operating income was RMB 174,376 million, a decrease of 1.77% compared to the same period last year[6]. - The net profit for the same period was RMB 95,808 million, reflecting an increase of 4.06% year-on-year[6]. - The net profit attributable to shareholders was RMB 95,284 million, up by 4.19% compared to the previous year[6]. - The net profit for the nine months ended September 30, 2025, was 258.45 billion RMB, representing a year-on-year growth of 0.52%[28]. - The bank's pre-tax profit for the nine months ended September 30, 2025, was RMB 289,581 million, a decrease of 2.36% from RMB 297,638 million in 2024[45]. - The bank's operating income for the nine months ended September 30, 2025, was RMB 560,281 million, a slight increase from RMB 552,347 million in the same period of 2024[31]. Cash Flow and Liquidity - The cash flow from operating activities for the nine months ended September 30, 2025, was RMB 1,817,380 million, a significant increase of 90.33% year-on-year[8]. - The net cash flow from operating activities for the nine months ended September 30, 2025, was RMB 1,817,380 million, compared to RMB 954,869 million for the same period in 2024, indicating an increase of 90.24%[47]. - The bank's cash and cash equivalents increased to RMB 1,156,321 million as of September 30, 2025, from RMB 1,385,789 million at the end of 2024, marking a decrease of 16.49%[51]. - The bank's net cash flow from financing activities was RMB 105,108 million for the nine months ended September 30, 2025, compared to a net outflow of RMB 19,844 million in 2024[49]. Assets and Liabilities - Total assets as of September 30, 2025, reached RMB 45,369,094 million, representing an increase of 11.83% from December 31, 2024[6]. - Total liabilities increased to RMB 41,712,953 million as of September 30, 2025, compared to RMB 37,227,184 million at the end of 2024, reflecting a growth of 12.0%[40]. - The bank's total liabilities and equity reached RMB 45,369,094 million as of September 30, 2025, compared to RMB 40,571,149 million as of December 31, 2024, an increase of 11.06%[42]. Shareholder Information - The equity attributable to shareholders was RMB 3,633,387 million, up by 9.37% compared to the previous year[6]. - The total number of ordinary shareholders as of September 30, 2025, was 343,236, with A-share shareholders numbering 307,319[9]. - The largest shareholder, Central Huijin Investment Ltd., held 54.51% of the H-shares[9]. - As of September 30, 2025, total equity attributable to shareholders reached RMB 3,633,387 million, up from RMB 3,322,127 million as of December 31, 2024, representing an increase of 9.36%[42]. Loan and Deposit Information - The total loans and advances issued reached 27.68 trillion RMB, increasing by 1.84 trillion RMB or 7.10% year-on-year[24]. - The total deposits absorbed were 30.65 trillion RMB, up by 1.94 trillion RMB or 6.75% from the previous year[25]. - The net increase in deposits from customers and other financial institutions was RMB 3,475,094 million for the nine months ended September 30, 2025, compared to RMB 2,209,613 million in 2024, reflecting a growth of 57.36%[47]. Income and Expenses - The non-interest income was 132.68 billion RMB, an increase of 18.96% compared to the same period last year[28]. - Interest income for the nine months ended September 30, 2025, was RMB 867,068 million, a decrease of 7.6% compared to RMB 938,135 million in the same period of 2024[31]. - Net interest income for the same period was RMB 427,606 million, down 3.0% from RMB 440,817 million year-over-year[31]. - The bank's net fee and commission income for the nine months ended September 30, 2025, was RMB 89,668 million, an increase of 5.9% from RMB 85,144 million in 2024[31]. Credit and Impairment - The bank's non-performing loan ratio was 1.32%, a decrease of 0.02 percentage points from the end of the previous year[24]. - The bank's credit impairment losses for the nine months ended September 30, 2025, were RMB 121,763 million, an increase of 11.1% compared to RMB 109,583 million in 2024[31]. - The bank's credit impairment losses increased to RMB 121,763 million for the nine months ended September 30, 2025, from RMB 109,583 million in 2024, reflecting a rise of 11.04%[45]. Other Financial Activities - The company reported a significant increase in deposits and net interbank and other financial institution placements, contributing to the cash flow growth[8]. - The balance of green loans reached 5.89 trillion yuan, an increase of 18.38% compared to the beginning of the year[17]. - The cumulative amount of technology enterprise acquisition loan projects reached 143.46 billion yuan, with 37 projects completed[17]. - The total scale of the second pillar management of the Jianxin Pension Fund reached 700.90 billion yuan, an increase of 11.78% from the end of the previous year[21]. - The balance of inclusive loans for small and micro enterprises reached 3.81 trillion yuan, an increase of 397.69 billion yuan compared to the end of the previous year[21]. - The company has issued multiple green bonds with a total issuance amount exceeding 50 billion yuan[17]. - The company participated in underwriting 98 domestic green and sustainable development bonds, with a total issuance scale of 292.88 billion yuan[17]. - The cumulative number of users on the "Yunong Tong" platform reached 76.24 million, with over 31 million users on the online platform[21]. - The company has completed the filing of 19 out of 21 pilot funds for equity investment in 15 cities[17]. - The company has launched the "Anxin" series of corporate pension products, covering multiple scenarios such as salary benefits and medical supplements[21]. - The total number of mobile banking and "CCB Life" users reached 542 million, with monthly active users at 244 million, a year-on-year increase of 12.71%[22].

（於開曼群島註冊成立之有限 公 司） （股份代 號 ： 0 6 6 0） 2024/2025 年 報 Annual Report 2021-2021 Annual Report 年 報 20 2 4 / 2 5 2024/2025 ANNUAL REPORT 目 錄 2 公司資料 3 管理層討論及分析 7 董事履歷詳情 8 董事會報告 19 企業管治報告 30 環境、社會及管治報告 60 獨立核數師報告 67 綜合損益表 68 綜合損益及其他全面收益表 69 綜合財務狀況表 71 綜合權益變動表 72 綜合現金流量表 74 綜合財務報表附註 140 五年財務概要 公司資料 董事會 執行董事 林家俊 （主席） 獨立非執行董事 黃保強 （於二零二五年五月十二日獲委任） 王子牛 （於二零二五年六月五日獲委任） 許慧齡 （於二零二五年六月五日獲委任） 萬 波 （於二零二五年六月五日辭任） 何 濤 （於二零二五年六月五日辭任） 龔映彤 （於二零二四年九月四日獲委任及 於二零二五年二月十四日辭任） 授權代表 林家俊 范德偉 （於二零二四年六月一日獲委任及 於二零二四年十月十七日辭任） 錢盈盈 （於二零二四年十月十八日獲委 ...

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。 上海大眾公用事業（集團）股份有限公司 Shanghai Dazhong Public Utilities (Group) Co., Ltd.* 上海大眾公用事業（集團）股份有限公司 董事局主席 楊國平 中華人民共和國，上海 2025年10月30日 於本公告日期，執行董事為楊國平先生、梁嘉瑋先生及汪寶平先生；非執行董事為趙曄 青先生及金永生先生；以及獨立非執行董事為姜國芳先生、李穎琦女士、劉峰先生及楊 平先生。 * 僅供識別 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1635） 2025年第三季度報告 上海大眾公用事業（集團）股份有限公司（「本公司」或「公司」）董事（「董事」）會（「董事會」） 欣然宣佈本公司及其子公司截至2025年9月30日止9個月（「報告期」）根據《中國企業會計 準則》編製之未經審計業績。本公告乃根據香港聯合交易所有限公司證券上市規則第13.09 及13.10B條及香港法 ...

Financial Performance - The Group's overall revenue for FY2024/2025 fell short of expectations due to the decline in traditional advertising business, which has not been fully offset by the new digital business revenue[17]. - The Group recorded a revenue of approximately HK$44.5 million for the year ended 30 June 2025, representing a decrease of approximately 64.3% compared to HK$124.5 million for the year ended 30 June 2024[35]. - The decline in revenue was primarily due to structural challenges in the traditional internet advertising business, which faced a saturated market and reduced budgets from advertisers[38]. - The Group recorded a loss of approximately HK$20.3 million for the year ended 30 June 2025, compared to a profit of approximately HK$17.5 million for the year ended 30 June 2024[52][57]. - Other income, gains and losses, net, resulted in a loss of approximately HK$14.4 million for the year ended 30 June 2025, compared to net gains of approximately HK$39.1 million for the year ended 30 June 2024[43][46]. Business Strategy and Focus - The Group is focusing on internet advertising services and building a digitalization empowerment platform amidst escalating global trade frictions and fierce market competition[16]. - The Group is implementing strategic adjustments to optimize its business model and gradually shift focus towards internet-derived product promotion and the development of a digitalized ecosystem[18]. - The digitalization empowerment platform business showed strong performance with substantial year-on-year growth, gradually becoming a new driver for the Group[38]. - The Group plans to strengthen data-driven capabilities and AI technology applications to enhance advertising conversion rates and customer returns[20]. - The Group aims to accelerate its expansion into cultural tourism projects and IP content development, leveraging existing advertising customer resources[20]. Cost and Expenses - The Group's cost of sales for the year ended 30 June 2025 was approximately HK$43.1 million, a decrease of about 68.5% compared to HK$136.5 million for the year ended 30 June 2024[40][45]. - Selling and distribution expenses increased to approximately HK$1.1 million for the year ended 30 June 2025 from HK$0.9 million in the previous year, primarily due to marketing investments in the digitalization empowerment platform business[48][53]. - Administrative expenses decreased by approximately 25.9% to approximately HK$6.0 million for the year ended 30 June 2025, down from approximately HK$8.1 million for the year ended 30 June 2024[49][54]. - Finance costs decreased significantly to HK$30,000 for the year ended 30 June 2025 from HK$1.3 million for the year ended 30 June 2024[50][55]. Shareholder and Capital Management - The Board proposed a share consolidation on September 15, 2025, consolidating every 20 existing shares into 1 consolidated share, resulting in an authorized share capital of HK$40,000,000 divided into 200,000,000 consolidated shares[82]. - The subscription agreement with Invengo Technology Pte. Ltd. involves the allotment of 8,246,400 consolidated shares at a subscription price of HK$1.60 per share, with the closing price on September 15, 2025, being HK$0.99[89]. - The company raised a total of HK$9,620,800 through the subscription of 137,440,000 ordinary shares at HK$0.07 per share[171][172]. - The net proceeds from the share issue are approximately HK$9,520,800, which will be used for repayment of borrowings and general working capital[180][181]. - The premium on the issue of shares amounted to approximately HK$8,146,400, credited to the company's share premium account[173]. Workforce and Employee Management - As of June 30, 2025, the Group had a total workforce of 12 employees, with total staff costs approximately HK$1.6 million, a decrease from HK$2.4 million for the year ended June 30, 2024[91]. - The emolument policy for employees is based on duties, responsibilities, and performance, with annual reviews conducted by the Remuneration Committee[92]. - The Group provides various training to enhance employees' technical skills and safety awareness[97]. - Monthly contributions to the Mandatory Provident Fund for Hong Kong employees are 5% of their monthly income, capped at HK$1,500[98]. - Contributions to the PRC government retirement benefit schemes are based on certain percentages of applicable payroll costs[99]. Governance and Management Changes - Mr. Zeng Jin has been appointed as an executive director and chairman of the Board effective June 4, 2024[101]. - Changes in the Board included the resignation of Ms. Liu Qin and Mr. Gan Xiaohua as executive directors in June and July 2025, respectively[159]. - Ms. Zhu Minli and Ms. Zhu Xiaolin were appointed as independent non-executive directors on January 20, 2025[158]. - The Company will hold an annual general meeting where certain Directors will offer themselves for re-election[160]. Risk Management - The Group's risk management policies aim to minimize the adverse effects of market risks, including currency and interest rate risks, on financial performance[73]. - The Group has not entered into any interest rate hedging contracts due to relatively low current interest rates but continues to monitor interest rate exposure closely[69]. - The Group's foreign exchange exposure was minimal, with no significant adverse effects from changes in foreign exchange rates during the reporting period[68]. Corporate Changes - The Company underwent a name change from "Million Stars Holdings Limited" to "Web3 Meta Limited" effective September 12, 2024[128]. - The Group's environmental, social, and governance performance is discussed in the report spanning pages 58 to 93[139]. - The Group did not engage in any material acquisitions or disposals during the year ended June 30, 2025[74]. - The Group did not have any significant capital commitments or contingent liabilities as of June 30, 2025, remaining consistent with the previous year[71][72].