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 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 毛記葵涌有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1716） 截 至2025年9月30日 止 六 個 月 中 期 業 績 公 告 | 財 | 務 | 摘 | 要 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 截 至9月30日 | 止 六 | 個 | 月 | | | | | | | | | 2025年 | | | | 2024年 | | | 收 | 益 | | | | 45.0百 萬 港 元 | 44.6百 | | 萬 | 港 | 元 | | 毛 | 利 | | | ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 22,431,000, representing an increase of 6% compared to HKD 21,163,000 for the same period in 2024[5] - Gross profit for the same period was HKD 10,042,000, up 74% from HKD 5,775,000 year-on-year[5] - The company reported a net loss of HKD 1,695,000 for the six months ended September 30, 2025, compared to a net loss of HKD 5,316,000 in the prior year, indicating a 68% improvement[5] - Basic and diluted loss per share was HKD 0.74, compared to HKD 0.24 for the same period in 2024[5] - Other income for the period was HKD 429,000, down from HKD 586,000 in the previous year[5] - Selling expenses increased to HKD 3,769,000 from HKD 3,568,000, reflecting a rise of 6%[5] - Administrative expenses rose to HKD 7,772,000, compared to HKD 7,487,000, marking a 4% increase[5] - The company reported a loss of HKD 24,486 million for the period, compared to a loss of HKD 17,723 million in the previous period, indicating worsening financial performance[8] - The company recorded a loss attributable to owners of approximately HKD 1.7 million for the six months ended September 30, 2025, compared to a loss of approximately HKD 5.3 million for the same period in 2024[53] Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 30,025 million, an increase from HKD 23,595 million in the previous period[6] - Current liabilities were reported at HKD 20,850 million, compared to HKD 15,988 million previously, indicating a rise in short-term obligations[6] - The net value of current assets stood at HKD 6,957 million, a decrease from HKD 12,453 million, reflecting a decline in liquidity[6] - Total equity as of September 30, 2025, was HKD 17,995 million, down from HKD 19,690 million, showing a reduction in shareholder equity[8] - The company’s total liabilities increased to HKD 20,850 million from HKD 15,988 million, indicating a rise in overall debt levels[6] - Cash and cash equivalents were reported at HKD 19,494 million, a decrease from HKD 20,126 million, suggesting a decline in cash reserves[6] - Trade receivables amounted to HKD 3,008,000 as of September 30, 2025, an increase from HKD 2,849,000 in the previous year[36] - Trade payables amounted to HKD 978 thousand (unaudited) as of March 31, 2025, compared to HKD 526 thousand (audited) for the previous period[39] Revenue Sources - Revenue from advertising services reached HKD 22,431,000 for the six-month period, up from HKD 21,163,000 in the previous year, indicating a growth of about 5.98%[17] - Revenue from external customers for the six months ended September 30, 2025, was HKD 22,431 million, an increase from HKD 21,163 million for the same period in 2024, representing a growth of approximately 5.98%[19] - The total revenue from the main market in Hong Kong was HKD 22,431,000, which accounted for the entirety of the company's revenue during the reporting period[17] - The healthcare business segment generated revenue of HKD 295 million for the same period, contributing to the overall revenue growth[23] - Revenue from bus advertising rose approximately 4.7% from about HKD 19.1 million to about HKD 20.0 million, primarily due to increased advertising revenue related to the Legislative Council elections in December 2025[46] Strategic Focus and Future Outlook - The company has not provided specific guidance for future performance but indicated ongoing efforts in market expansion and product development[4] - The financial results reflect the company's strategic focus on improving operational efficiency and cost management[4] - The company continues to explore opportunities for mergers and acquisitions to enhance its market position[4] - The company is exploring new strategies for market expansion and product development, particularly in the advertising services sector[22] - Future outlook remains positive with expectations of continued revenue growth driven by both transportation and healthcare business segments[22] - The company is optimistic about growth potential in the outdoor media industry despite market uncertainties, driven by digital technology integration and cross-border collaborations[71] Corporate Governance and Shareholding - The company has adhered to the corporate governance code as per GEM listing rules, with a noted deviation regarding the separation of roles between the Chairman and CEO[88] - The audit committee consists of three independent non-executive directors, with Mr. Lin Youfeng serving as the chairman, ensuring effective oversight of financial reporting and internal controls[89] - As of September 30, 2025, the company has a total of 278,640,000 shares held by Ms. Zhou, representing a 38.70% ownership stake[77] - Mr. Shi holds 93,960,000 shares, which accounts for 13.05% of the company's total shares[78] - Goldcore Global Investments Limited, fully owned by Ms. Zhou, holds 100% of its issued shares, thus Ms. Zhou is deemed to have beneficial ownership of all shares held by Goldcore[78] - Silver Pro Investments Limited, fully owned by Mr. Shi, also holds 100% of its issued shares, making Mr. Shi the beneficial owner of all shares held by Silver Pro[79] - No other directors or senior management have disclosed any beneficial ownership or short positions in the company or its associated entities as of September 30, 2025[80] Investment Activities - The company’s investment activities included a net cash outflow of HKD (10,587,000) for the repayment of lease liabilities, compared to HKD (8,382,000) in the previous year[10] - The company has secured an additional 962 green minibuses and 62 red minibuses for advertising purposes[66] - The company has obtained exclusive advertising space on at least 100 tour buses, with the contract ending on March 31, 2021[66] - The company has signed agreements to acquire 13 advertising spaces at the China Ferry Terminal in Tsim Sha Tsui, Hong Kong[67] - The company has received approval for 28 wall advertising spots at the Hong Kong Macau Ferry Terminal, effective from October 3, 2025[67] Employee and Management Information - As of September 30, 2025, the group has 28 employees, with employee costs amounting to approximately HKD 8.2 million, an increase from HKD 7.5 million in 2024[63] - Short-term employee benefits for management were approximately HKD 2,710 thousand (unaudited) for the six-month period ending September 30, 2025[41] Miscellaneous - The company did not provide any segment asset and liability information to the chief operating decision maker, focusing instead on revenue and gross profit for performance evaluation[21] - The company did not engage in any transactions with related parties during the reporting period[40] - The company has not undergone any significant changes in accounting standards that would materially affect the financial statements for the current period[15] - No interim dividend was declared for the six-month period ending September 30, 2025, consistent with the previous year[30] - No significant events requiring disclosure have occurred after September 30, 2025, up to the announcement date[76]

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。 Baijin Life Science Holdings Limited 佰金生命科學控股有限公司 （股份代號： 1466） （於開曼群島註冊成立之有限公司） 截 至2025年9月30日 止 六 個 月 之 中 期 業 績 公 告 佰 金 生 命 科 學 控 股 有 限 公 司（「本 公 司」）（前 稱 為 錢 唐 控 股 有 限 公 司）董 事 會（「董 事 會」）欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至2025年 9月30日 止 六 個 月 之 簡 明 綜 合 中 期 業 績，連 同2024年 同 期 之 比 較 數 字。 截 至2025年9月30日 止 六 個 月 | | | ...

Financial Performance - Revenue for the six months ended September 30, 2025, increased by 180.9% to HKD 346,958,000 compared to HKD 123,534,000 in the same period of 2024[2] - Gross profit rose by 21.4% to HKD 23,736,000 from HKD 19,555,000 year-on-year[2] - Profit before tax increased by 42.0% to HKD 6,802,000 compared to HKD 4,790,000 in the previous year[2] - Net profit attributable to owners of the company was HKD 5,359,000, up 28.5% from HKD 4,171,000 in the same period last year[2] - Basic and diluted earnings per share increased to HKD 0.7 from HKD 0.5, reflecting a growth of 28.5%[2] - Total comprehensive income for the period amounted to HKD 10,617,000, compared to HKD 4,757,000 in the previous year[4] - The company reported a significant increase in other income, contributing HKD 713,000 compared to HKD 1,108,000 in the prior period[4] - The company reported a pre-tax profit of HKD 6,802,000 for the six months ended September 30, 2025[16] - The group reported a profit attributable to owners of approximately HKD 5.4 million for the six months ended September 30, 2025, an increase of about HKD 1.2 million or 28.5% from HKD 4.2 million in the previous year[68] Assets and Liabilities - As of September 30, 2025, total assets amounted to HKD 210,001,000, an increase from HKD 167,225,000 as of March 31, 2025, representing a growth of approximately 25.5%[5] - Current liabilities totaled HKD 225,092,000, up from HKD 205,417,000, indicating an increase of about 9.2%[5] - The net value of current assets reached HKD 95,774,000, compared to HKD 43,014,000, reflecting a significant increase of approximately 122.3%[5] - The total non-current assets were valued at HKD 133,584,000, rising from HKD 124,330,000, which is an increase of about 7.4%[5] - The company's cash and cash equivalents increased to HKD 31,322,000 from HKD 18,358,000, marking a growth of approximately 70.8%[5] - The total equity attributable to owners of the company was HKD 175,273,000, up from HKD 168,469,000, representing an increase of about 4.3%[5] - The company’s total liabilities decreased from HKD 55,397,000 to zero, indicating a significant reduction in non-current liabilities[5] - The company’s retained earnings increased to HKD 167,273,000 from HKD 160,469,000, reflecting a growth of about 4.8%[5] - Total liabilities as of March 31, 2025, were HKD 205,417,000, with segment liabilities in Building at HKD 148,819,000 and Property Investment at HKD 54,896,000[21] Segment Performance - The construction segment generated revenue of HKD 340,320,000, while the Building Solutions segment contributed HKD 740,000[16] - The strategy investment segment reported a loss of HKD 923,000, while the property investment segment generated a profit of HKD 2,340,000[16] - The group completed 5 projects and secured 7 projects during the period, all of which were renovation projects[52] - The group's construction revenue for the six months ended September 30, 2025, was approximately HKD 340.3 million, an increase of about HKD 227.8 million or approximately 202.6% compared to the same period last year[62] - The gross profit from the construction business increased from approximately HKD 11.5 million to approximately HKD 17.5 million, representing a growth of about 52.3%[63] - The gross profit margin for the construction business decreased from approximately 10.2% to about 5.1%, primarily due to lower profit margins on secured projects[63] - Building Solutions segment recorded revenue of approximately HKD 0.7 million for the six months ended September 30, 2025, a decrease of about HKD 4.9 million or 86.9% compared to HKD 5.7 million for the same period in 2024[64] - Gross profit for the Building Solutions segment decreased to approximately HKD 0.4 million, down about HKD 2.3 million or 86.6% from HKD 2.7 million in the previous year, with a gross margin of approximately 48.4%[64] Expenses and Costs - Administrative and other operating expenses rose to HKD 14,797,000 from HKD 13,090,000, indicating increased operational costs[4] - The company incurred interest expenses of HKD 2,163,000 for bank borrowings for the six months ended September 30, 2025, compared to HKD 2,203,000 for the same period in 2024[30] - The company’s employee costs, including salaries and allowances, increased to HKD 40,424,000 for the six months ended September 30, 2025, from HKD 29,705,000 in the previous year[30] - The company’s short-term lease expenses rose to HKD 324,000 for the six months ended September 30, 2025, compared to HKD 229,000 for the same period in 2024[30] - The company reported a depreciation expense of HKD 1,252,000 for the six months ending September 30, 2025[22] Cash Flow and Investments - The company is focusing on strategic investments to effectively utilize available funds and expand its influence in the construction environment[46] - The company aims to directly invest in physical real estate through its property investment subsidiary, expecting additional income from these investments[49] - The group generated rental income of approximately HKD 4.9 million from investment properties in Dublin, Ireland, for the six months ended September 30, 2025, an increase from HKD 4.0 million in the same period in 2024[66] - The group generated rental income of approximately HKD 4.9 million from an investment property in Dublin, Ireland, for the six months ended September 30, 2025, and expects stable rental income and potential capital appreciation in the future[81] Corporate Governance and Compliance - The company confirmed compliance with corporate governance rules, except for the separation of the roles of Chairman and CEO, which are held by the same individual[89][90] - The company has adopted the Standard Code for Securities Transactions for directors, confirming compliance as of September 30, 2025[91] - The Audit Committee was established on September 20, 2016, consisting of three independent non-executive directors[92] - The interim financial statements for the six months ending September 30, 2025, have been reviewed by the Audit Committee and are prepared in accordance with applicable accounting standards[93] - The Board of Directors does not recommend the payment of an interim dividend for the six months ending September 30, 2025[94]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 78,730,000, representing an increase of 22.9% compared to HKD 64,040,000 for the same period in 2024[4] - Gross profit for the same period was HKD 3,918,000, a decrease of 22.1% from HKD 5,032,000 in 2024[4] - Operating expenses increased to HKD 17,235,000, up 60.5% from HKD 10,747,000 in the previous year[4] - The company reported a net loss attributable to shareholders of HKD 16,271,000, compared to a loss of HKD 5,077,000 in the prior year, indicating a significant increase in losses[4] - Other income and gains for the six months ended September 30, 2025, totaled HKD 2,266,000, down from HKD 4,857,000 in 2024, indicating a decline of about 53.3%[17] - The company reported a loss attributable to shareholders of HKD 16,271,000 for the six months ended September 30, 2025, compared to a loss of HKD 5,077,000 in 2024, indicating a significant increase in losses[22] - Basic loss per share for the six months ended September 30, 2025, was HKD 4.07, compared to HKD 1.27 for the same period in 2024, showing a deterioration in per-share performance[22] - The company incurred a total comprehensive loss of HKD 16,271,000 for the six months ended September 30, 2025, compared to a loss of HKD 5,077,000 for the same period in 2024[7] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 180,881,000, down from HKD 203,412,000 as of March 31, 2025[5] - Total liabilities decreased to HKD 57,132,000 from HKD 63,392,000, reflecting a reduction in financial obligations[6] - The company's equity attributable to shareholders was HKD 123,749,000, down from HKD 140,020,000 in the previous period[6] - Cash and cash equivalents decreased to HKD 69,817,000 from HKD 85,242,000, indicating a decline in liquidity[5] - As of September 30, 2025, total equity decreased to HKD 123,749,000 from HKD 140,020,000 as of March 31, 2025, reflecting a loss of HKD 16,271,000 during the period[7] - The company’s retained earnings decreased to HKD 26,926,000 as of September 30, 2025, from HKD 43,197,000 as of March 31, 2025[7] - The company’s cash flow from financing activities showed a net outflow of HKD 237,000 for the six months ended September 30, 2025[9] - The group reported a decrease in trade payables from HKD 23,097,000 as of March 31, 2025, to HKD 7,716,000 as of September 30, 2025[30] Cash Flow and Investments - The net cash flow from operating activities for the six months ended September 30, 2025, was a negative HKD 6,809,000, compared to a negative HKD 5,670,000 for the same period in 2024[9] - The company’s investment activities resulted in a net cash outflow of HKD 8,379,000 for the six months ended September 30, 2025, compared to a net outflow of HKD 5,473,000 for the same period in 2024[9] - The group invested approximately HKD 4,172,000 in properties, plants, and equipment during the period, compared to HKD 6,782,000 as of September 30, 2024[24] - The group has entered into contracts for capital expenditures amounting to HKD 1.155 million for properties, plants, and equipment[37] Operational Focus and Strategy - The company has not provided specific guidance for future performance but is focusing on operational efficiency and cost management strategies[4] - There are ongoing efforts in research and development for new products, although specific details were not disclosed in the earnings call[4] - The group will continue to actively participate in project tenders to overcome intense competition and a sluggish real estate market[41] - The group plans to adjust its inventory policy to maintain a healthy cash position and ensure timely salary payments to employees[41] Shareholder Information - The company holds 204,000,000 shares, representing 51.0% of the total issued share capital[64] - Major shareholders include Mr. Huang Renxiong, Mr. Huang Yibang, and Mr. Li Guohui, each holding 51.0% through Meicheng Holdings Limited[66] - Mr. Huang Renxiong agreed to purchase a 30% stake from Mr. Li Guohui for HKD 12,000,000, increasing his ownership in Meicheng to 70%[68] - Following the share transfer, Meicheng will continue to hold 204,000,000 shares, maintaining a 51.0% stake in the company[68] - Kingkey Investment Fund holds 20,400,000 shares, representing 5.1% of the total[66] Governance and Compliance - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results and confirmed compliance with applicable accounting standards and regulations[78] - The company has maintained sufficient public float as required by listing rules throughout the reporting period[77] - The company has adopted and applied the corporate governance code as per the listing rules to ensure effective accountability and protect shareholder interests[72] - There were no significant contracts in which directors had a substantial interest during the reporting period[76] - The company has not engaged in any purchase, sale, or redemption of its securities during the reporting period[75] Employee and Administrative Costs - The total salary cost incurred during the period was approximately HKD 23.1 million, compared to about HKD 15.4 million in the same period of 2024[61] - The total direct costs for the period included HKD 11,451,000 in employee costs, up from HKD 9,962,000 in 2024, reflecting a rise of approximately 15%[20] - Administrative and operating expenses increased by approximately HKD 6.5 million, primarily due to service recognition bonuses for retiring directors and increased employee costs[40] - Administrative and other operating expenses increased significantly by approximately HKD 6.5 million compared to the same period in 2024, mainly due to service recognition bonuses for retiring directors and increased employee costs and benefits[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的任何損失承擔任何責 任。 THELLOY DEVELOPMENT GROUP LIMITED 德萊建業集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1546） 截至二零二五年九月三十日止六個月之中期業績公告 摘要 截至二零二五年九月三十日止六個月（「期內」）及截至二零二四年九月三十 日止六個月（「過往期間」）： 1 － 期內，本集團收入約為260,300,000港元（過往期間：180,700,000港元）。 － 期 內，本 公 司 擁 有 人 應 佔 虧 損 約 為16,200,000港 元（過 往 期 間：約 13,800,000港元）。 － 董事會並不建議派付期內中期股息（過往期間：無）。 － 期內，每股虧損約為2.02港仙（過往期間：約1.72港仙）。 德萊建業集團有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈本 公司及其附屬公司（統稱「本集團」）期內之未經審核業績連同過往期間之比較 數字 ...

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。 SAFETY GODOWN COMPANY, LIMITED （於香港註冊成立之有限公司） （股份代號：237） 截至二零二五年九月三十日止六個月 中期業績公告 財務摘要 安全貨倉有限公司（「本公司」）董事會（「董事會」）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之未經審核中期業績。此業績已由本公司核數師德勤•關黃陳方會計師行 按照香港審閱準則第2410號「實體的獨立核數師對中期財務資料的審閱」及本公司審核委員會進行審 閱。 截至二零二五年九月三十日止六個月，本集團錄得本公司擁有人應佔虧損17,560,000港元（截至二零 二四年九月三十日止六個月：溢利184,000港元），由盈轉虧。總收入由93,409,000港元下跌10%至 84,100,000港元。本集團扣除投資物業公平值虧損後之稅後核心溢利（非香港財務報告準則財務計量 指標），由二零二四年同期73,884,000港 ...

Financial Performance - Total customer sales from continuing operations amounted to HKD 296.7 million, a decrease of 4.5% compared to HKD 310.6 million in the same period last year[5]. - Revenue from continuing operations was HKD 148.0 million, an increase of 29.3% from HKD 114.5 million in the previous year[5]. - The loss attributable to owners from continuing operations was HKD 0.4 million, compared to a profit of HKD 3.0 million in the same period last year[5]. - The loss per share attributable to owners from continuing operations was HKD 0.1 cents, down from a profit of HKD 0.6 cents in the previous year[5]. - Total comprehensive loss for the period was HKD 571,000, compared to a total comprehensive income of HKD 2.481 million in the previous year[7]. - The group reported a profit of HKD 2,767,000 from continuing operations, slightly up from HKD 2,730,000 in the previous year[17]. - The group's profit from continuing operations for the same period was HKD 2,767,000, compared to HKD 2,730,000 in 2024, indicating a slight increase of 1.4%[18]. Revenue and Sales - Revenue from travel-related services for the six months ended September 30, 2025, was HKD 148,026,000, an increase of 29.3% compared to HKD 114,490,000 for the same period in 2024[13]. - Sales from travel packages reached HKD 124,149,000, up 48% from HKD 84,036,000 in the previous year[13]. - Total revenue, including other income, amounted to HKD 151,929,000, representing a 25.7% increase from HKD 120,837,000 in the prior year[13]. - Travel group sales revenue increased by 47.7% to approximately HKD 124.1 million for the six months ended September 30, 2025, compared to HKD 84.0 million for the same period in 2024[35]. - Gross profit from travel group sales rose by 64.2% to approximately HKD 19.0 million, up from HKD 11.6 million in the previous year[35]. - Revenue from travel-related products decreased by 21.6% to approximately HKD 23.9 million, down from HKD 30.5 million for the same period in 2024[36]. Assets and Liabilities - Non-current assets decreased to HKD 18.964 million from HKD 20.068 million as of March 31, 2025[8]. - Current assets increased to HKD 178.742 million from HKD 141.787 million as of March 31, 2025[8]. - Total liabilities increased to HKD 134.534 million from HKD 92.755 million as of March 31, 2025[9]. - Equity attributable to owners decreased to HKD 60.523 million from HKD 65.173 million as of March 31, 2025[9]. - The total assets of the group as of September 30, 2025, amounted to HKD 197,706,000, up from HKD 161,855,000 in 2024, reflecting a growth of 22.1%[18]. - The total liabilities increased to HKD 137,183,000 as of September 30, 2025, compared to HKD 96,682,000 in 2024, marking an increase of 42.0%[18]. Expenses and Costs - Employee costs, including director remuneration, rose to HKD 28,725,000 for the six months ended September 30, 2025, from HKD 25,642,000 in 2024, an increase of 8.1%[21]. - Administrative and other operating expenses for the period were approximately HKD 18.8 million, an increase of 9.9% compared to HKD 17.1 million in the same period last year, primarily due to increased employee costs for logistics support staff[41]. - Sales and distribution costs increased by 11.9% to approximately HKD 28.2 million, compared to HKD 25.2 million in the previous year[39]. Dividends and Shareholder Returns - The board has resolved not to declare an interim dividend for the six months ended September 30, 2025, consistent with the previous year[5]. - The group did not declare an interim dividend for the six months ended September 30, 2025, consistent with the previous year[27]. - The group reported a basic loss per share of HKD 0.79 for the six months ended September 30, 2025, compared to a profit of HKD 5.80 per share in 2024[26]. Operational Developments - The company opened two new flagship stores in high-traffic retail areas to support sales growth and enhance customer reach[34]. - The company confirmed the recognition of right-of-use assets for new leases amounting to approximately HKD 2,608,000, with no prior year recognition[10]. - The company has restructured its internal reporting framework, resulting in changes to the composition of reportable segments[16]. Market Outlook and Strategy - The group expects continued growth in travel demand, while maintaining a cautiously optimistic outlook due to ongoing global economic challenges and geopolitical tensions[52]. - The company plans to launch a new brand "尊業旅遊" to offer cost-effective travel products aimed at expanding its customer base and revenue sources[52]. - The group will continue to invest resources in developing more diverse experiential travel products to meet customer preferences and market trends[52]. - The group will enhance promotional activities and leverage popular social media platforms to improve brand image and awareness[52]. Cash Flow and Financial Position - Operating cash inflow for the period was approximately HKD 53.4 million, compared to HKD 36.3 million for the six months ended September 30, 2024[43]. - As of September 30, 2025, the group had cash and cash equivalents totaling approximately HKD 135.9 million, up from HKD 90.7 million as of March 31, 2025[43]. - As of September 30, 2025, the group had no outstanding bank borrowings, maintaining a debt ratio of zero[44]. Foreign Exchange and Interest - Interest income from bank deposits was HKD 851,000, down 47.4% from HKD 1,613,000 in the previous year[13]. - The group experienced a net foreign exchange loss of HKD 1,791,000 for the six months ended September 30, 2025, compared to a gain of HKD 301,000 in 2024[21]. - The group recorded foreign exchange gains of approximately HKD 1.8 million during the period, compared to foreign exchange losses of approximately HKD 301,000 in 2024[50]. - The interest expense on lease liabilities for continuing operations was HKD 322,000 for the six months ended September 30, 2025, down from HKD 408,000 in 2024, a decrease of 21.1%[23]. Trade Receivables and Payables - Trade receivables aged analysis showed a total of HKD 5,381,000 as of September 30, 2025, down from HKD 5,543,000 as of March 31, 2025[29]. - Trade payables aged analysis indicated a total of HKD 25,035,000 as of September 30, 2025, slightly down from HKD 25,832,000 as of March 31, 2025[30].

Financial Performance - For the six months ended September 30, 2025, the company's revenue was HKD 60,898,000, a decrease of 3.2% compared to HKD 62,916,000 for the same period in 2024[4] - Gross profit for the same period was HKD 30,347,000, reflecting a slight increase of 0.8% from HKD 30,099,000 in 2024[4] - The company's profit before tax decreased to HKD 8,755,000, down 23.9% from HKD 11,507,000 in the previous year[4] - Net profit attributable to the company's owners was HKD 7,484,000, a decline of 25.7% compared to HKD 10,061,000 in 2024[4] - Basic and diluted earnings per share were HKD 1.87, down from HKD 2.52 in the same period last year, representing a decrease of 25.8%[4] - Other income for the same period was HKD 904,000, significantly down from HKD 3,028,000 in 2024, primarily due to a decrease in bank interest income from HKD 1,262,000 to HKD 648,000[19] - The group reported a net profit of HKD 7,484,000 for the six months ended September 30, 2025, down from HKD 10,061,000 in 2024, reflecting a decline of 25.6%[25] - Basic and diluted earnings per share for the period were HKD 1.87, compared to HKD 2.52 for the same period in 2024[25] - The net profit after tax decreased by approximately 25.6% or about HKD 2,600,000 to approximately HKD 7,500,000 for the six months ended September 30, 2025[49] Cash Flow and Assets - Cash generated from operating activities increased to HKD 4,636,000, compared to HKD 3,437,000 in 2024, marking a growth of 34.8%[8] - Total assets as of September 30, 2025, were HKD 117,245,000, an increase from HKD 107,701,000 as of March 31, 2025[5] - The company's cash and cash equivalents at the end of the period were HKD 79,603,000, up from HKD 74,575,000 at the beginning of the period[8] - Non-current assets increased to HKD 17,074,000 from HKD 13,353,000, indicating a growth of 27.4%[5] - The company reported a net asset value of HKD 115,185,000, up from HKD 107,701,000, reflecting an increase of 6.9%[6] - Trade receivables as of September 30, 2025, amounted to HKD 44,761,000, an increase from HKD 28,909,000 as of March 31, 2025[27] - Trade and other payables were HKD 20,306,000 as of September 30, 2025, compared to HKD 18,646,000 as of March 31, 2025, indicating an increase of 8.9%[29] Employee and Operational Costs - The total employee costs, excluding directors' remuneration, were HKD 17,187,000, slightly down from HKD 17,547,000 in 2024[23] - The group employed 71 full-time staff as of September 30, 2025, with employee costs amounting to approximately HKD 23,000,000 for the reporting period[52] - The service costs decreased by approximately 7.1% to about HKD 30,600,000 from approximately HKD 32,800,000 for the same period in 2024[41] Dividends and Shareholder Information - The group did not recommend any dividend for the six months ended September 30, 2025, consistent with the previous year[24] - The group did not recommend any dividend for the six months ended September 30, 2025, consistent with the previous period[39] - As of September 30, 2025, Mr. Lin Jianyun and Mr. Fang Yongguang each hold 116,580,000 shares, representing approximately 29.1% of the issued share capital[61] - Mr. Yu Mingwei holds 580,000 shares, representing approximately 0.1% of the issued share capital[61] - The company has not granted any share options as of September 30, 2025, and there are no unexercised options[67] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the six months ending September 30, 2025[68] - No major shareholders or other individuals have recorded interests in the company's shares as of September 30, 2025[65] - The company has the capacity to issue 40,000,000 shares under the share option plan, equivalent to 10% of the existing issued share capital[67] - The company does not have any provisions for preemptive rights in its articles of association[69] - The company maintained a minimum public float of at least 25% of its issued shares as of September 30, 2025[74] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it during the reporting period[70] - There are no interests held by directors or controlling shareholders in any competing businesses as of September 30, 2025[71] - All directors confirmed compliance with the securities trading standards during the six months ending September 30, 2025[72] - The audit committee, established on March 23, 2016, consists of three independent non-executive directors and has reviewed the unaudited consolidated financial statements for the six months ending September 30, 2025[75] Future Outlook - The group has begun evaluating the impact of new and revised Hong Kong Financial Reporting Standards, which are expected to be adopted on their effective dates without significant impact on the interim financial statements[15] - The group has no significant investment or acquisition plans as of September 30, 2025[54]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 429,409,000, a decrease of 15.6% compared to HKD 508,622,000 for the same period in 2024[4] - Gross profit for the same period was HKD 52,540,000, down 42.2% from HKD 90,901,000 year-over-year[4] - Operating loss for the six months was HKD 27,529,000, compared to an operating profit of HKD 10,196,000 in the previous year[4] - Net loss for the period was HKD 29,030,000, compared to a profit of HKD 7,090,000 in the same period last year[5] - Basic and diluted loss per share was HKD 5.76, compared to earnings of HKD 1.45 per share in the prior year[5] - Revenue for the six months ended September 30, 2025, was HKD 429,409,000, a decrease of 15.6% from HKD 508,622,000 in the same period of 2024[13] - Sales of packaging materials, labels, and paper products, including eco-friendly products, amounted to HKD 414,660,000, down from HKD 494,196,000, representing a decline of 16.1%[13] - The group reported a total operating loss of HKD 29,030,000 for the six months ended September 30, 2025, compared to an operating profit of HKD 7,090,000 in the same period of 2024[15][16] - The company reported a loss of approximately HKD 28.81 million for the six months ended September 30, 2025, compared to a profit of HKD 7.26 million in the same period last year[30] - Revenue for the period was approximately HKD 429 million, representing a decrease of about 16% year-on-year[30] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 815,219,000, a decrease from HKD 842,010,000 as of March 31, 2025[8] - Total liabilities decreased to HKD 254,514,000 from HKD 262,429,000 as of March 31, 2025[8] - Cash and cash equivalents decreased to HKD 114,308,000 from HKD 198,650,000 as of March 31, 2025[8] - Trade receivables increased to HKD 229,727,000 from HKD 171,893,000 year-over-year[8] - Trade payables as of September 30, 2025, were HKD 105.17 million, compared to HKD 70.84 million as of March 31, 2025[29] - As of September 30, 2025, the group reported cash and bank balances of approximately HKD 115 million[45] - The group's operating capital surplus was approximately HKD 198 million as of September 30, 2025, compared to HKD 252 million in the previous year[46] - The debt-to-equity ratio as of September 30, 2025, was 5%, down from 7% in the previous year[46] Operational Highlights - The South China region generated revenue of HKD 285,403,000, a decrease of 24.8% from HKD 378,349,000 in the previous year[15][16] - The group incurred a financing cost of HKD 1,028,000, compared to HKD 1,556,000 in the previous year, reflecting a reduction of 34%[18] - The net exchange gain for the six months ended September 30, 2025, was HKD 1,743,000, an increase from HKD 1,223,000 in the same period of 2024[17] - The group reported a net other income of HKD 4,069,000 for the six months ended September 30, 2025, compared to HKD 7,335,000 in the same period of 2024[17] - The gross profit margin declined by approximately 6 percentage points compared to the same period last year, primarily due to increased competition and pricing strategies[30] Strategic Initiatives - The company plans to accelerate capacity layout in Southeast Asia to mitigate geopolitical risks and enhance operational efficiency through technological innovation[31] - The company is focusing on diversifying its business into non-traditional sectors such as e-commerce and high-end packaging to strengthen its market position[31] - The company is accelerating capacity construction in Malaysia to mitigate tariff risks and enhance service to global customers, while also increasing investment in high-growth areas such as domestic packaging and proprietary cultural products[33] - The company aims to leverage opportunities from the Regional Comprehensive Economic Partnership (RCEP) and ASEAN market openings to expand non-traditional businesses and high-value product offerings[44] Market Conditions - The global printing market is undergoing significant structural adjustments due to geopolitical tensions and trade protectionism, particularly the U.S. tariffs on Chinese imports, which have increased export costs and compressed profit margins[33] - The South China business has faced severe impacts from new U.S. tariffs, leading to a significant reduction in export orders and resulting in overall business losses[36] - The East China business has experienced major strategic adjustments due to delayed orders from key clients, prompting the company to implement a market diversification strategy[40] - Southeast Asia business recorded robust sales growth, reflecting a positive trend of international customers shifting orders from traditional production bases to Southeast Asia[42] Innovation and Development - The company has introduced a total of 14 new patents across its factories, showcasing its strength in process improvement and product development, with 4 new utility model patents in Guangzhou and Shaoguan, and 5 in Suzhou[34] - The company has developed new automated equipment to enhance production efficiency and product precision, contributing to its commitment to sustainable development[41] - The Malaysian plant, as the core base in Southeast Asia, is enhancing operational efficiency and product yield through process standardization and automation upgrades[42] Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules for the six-month period ending September 30, 2025[56] - The company has adopted the standard code for directors' securities transactions, confirming compliance during the same reporting period[57] - No significant events requiring disclosure occurred after September 30, 2025, until the announcement date[59] - The interim results report for the six-month period ending September 30, 2025, will be sent to shareholders and published on the company's website[60] - The chairman, Mr. Lin Guangru, holds both the chairman and CEO positions, which the board believes enhances strategic development and business plan execution[56] Human Resources - The group employs approximately 2,400 staff and is committed to continuous training and talent development programs[50]