慧源同创科技(01116) - 2025 - 年度业绩

Company Overview and Annual Results Announcement Huayuan Tongchuang Technology Group Co., Ltd. (formerly Meiya Holdings Co., Ltd.) announced its consolidated annual results for the year ended June 30, 2025, which have been reviewed by the audit committee and include comparative figures for 2024 Company Information and Announcement Statement The company, formerly Meiya Holdings Co., Ltd., released its consolidated annual results for the year ended June 30, 2025, with comparative figures for 2024, reviewed by the audit committee - Company Name: Huayuan Tongchuang Technology Group Co., Ltd. (formerly Meiya Holdings Co., Ltd.)[2] - Announcement Content: Consolidated annual results announcement for the year ended June 30, 2025, including 2024 comparative figures[2] - Review Status: Consolidated results have been reviewed by the company's audit committee[2] Consolidated Financial Statements This section presents the Group's consolidated financial statements, including the statement of profit or loss, comprehensive income, and financial position Consolidated Statement of Profit or Loss For the year ended June 30, 2025, the company's revenue from continuing operations increased by 6.4%, but it recorded an operating loss, loss before tax, and loss for the year, contrasting with a profit in 2024 primarily from discontinued operations Consolidated Statement of Profit or Loss Key Data (Continuing Operations) | Metric | 2025 (thousand RMB) | 2024 (thousand RMB, restated and re-presented) | | :--- | :--- | :--- | | Revenue | 760,063 | 714,408 | | Cost of Sales | (677,461) | (627,021) | | Gross Profit | 82,602 | 87,387 | | Other Income | 14,933 | 20,036 | | Operating Loss | (48,457) | (7,807) | | Loss Before Tax | (58,295) | (11,468) | | Loss for the Year from Continuing Operations | (59,459) | (14,768) | | Profit for the Year from Discontinued Operations | – | 167,901 | | Loss/Profit for the Year | (59,459) | 153,133 | Consolidated Statement of Profit or Loss and Other Comprehensive Income For the year ended June 30, 2025, the company reported a loss for the year and total comprehensive expense, a significant shift from the profit and comprehensive income recorded in 2024, with basic and diluted loss per share of RMB 2.67 cents Consolidated Statement of Profit or Loss and Other Comprehensive Income Key Data | Metric | 2025 (thousand RMB) | 2024 (thousand RMB, restated and re-presented) | | :--- | :--- | :--- | | Loss/Profit for the Year | (59,459) | 153,133 | | Other Comprehensive Income/(Expense), After Tax | 8,478 | (2,796) | | Total Comprehensive Expense/Income for the Year | (50,981) | 150,337 | | Loss/Profit for the Year Attributable to Owners of the Company | (57,683) | 153,272 | | Total Comprehensive Expense/Income Attributable to Owners of the Company | (49,205) | 150,476 | | Loss Per Share from Continuing Operations (RMB cents) - Basic and Diluted | (2.67) | (0.68) | Consolidated Statement of Financial Position As of June 30, 2025, the company's net assets decreased, with an increase in property, plant and equipment, a decrease in trade and other receivables, a significant reduction in trade and other payables, and an increase in borrowings Consolidated Statement of Financial Position Key Data | Metric | June 30, 2025 (thousand RMB) | June 30, 2024 (thousand RMB, restated and re-presented) | | :--- | :--- | :--- | | Non-current Assets | 94,457 | 85,800 | | Current Assets | 441,592 | 482,759 | | Current Liabilities | 282,553 | 286,432 | | Net Current Assets | 159,039 | 196,327 | | Net Assets | 251,720 | 282,127 | | Equity Attributable to Owners of the Company | 193,401 | 215,522 | | Borrowings | 159,578 | 100,000 | | Trade and Other Receivables | 305,721 | 345,920 | | Trade and Other Payables | 114,023 | 171,170 | Notes to the Consolidated Financial Statements This section provides detailed notes to the consolidated financial statements, covering general information, accounting policies, revenue, expenses, segment information, and other financial details General Information Huayuan Tongchuang Technology Group Co., Ltd., incorporated in the Cayman Islands with its principal business in Hong Kong, presents its consolidated financial statements in RMB and discontinued its urban renewal business in Zhuhai in 2024 - Company registration: Cayman Islands, principal place of business: Hong Kong[8] - Financial statements currency: RMB[9] - Discontinued operations: Urban renewal project planning and consulting business in Zhuhai, China, discontinued in 2024[9] Adoption of New and Revised Hong Kong Financial Reporting Standards This year, the Group adopted several amendments to Hong Kong Financial Reporting Standards, which had no material impact on financial performance or position, while HKFRS 18, effective in 2027, is being assessed for presentation and disclosure impacts - This year, several amendments to Hong Kong Financial Reporting Standards were first applied, including HKFRS 16 (Amendments), HKAS 1 (Amendments), and HKAS 7 and HKFRS 7 (Amendments)[10][11] - Applied amendments had no material impact on financial performance and position for the current and prior periods[11] - HKFRS 18 (Presentation and Disclosure in Financial Statements) will be effective from January 1, 2027, and is not expected to have a material impact on financial position, but its impact on presentation and disclosure is still being assessed[12][13] Revenue The Group's revenue primarily stems from steel products and piped drinking water solutions, with total revenue increasing by 6.4% to RMB 760,063 thousand in 2025, driven mainly by domestic sales and growing direct exports Continuing Operations Revenue Analysis | Revenue Source | 2025 (thousand RMB) | 2024 (thousand RMB, restated and re-presented) | | :--- | :--- | :--- | | Production and Sale of Steel Products and Provision of Piped Drinking Water Solutions | 760,063 | 714,408 | | Indirect Export Sales | 18,264 | 29,932 | | Domestic Sales | 681,875 | 637,820 | | Direct Export Sales | 59,924 | 46,656 | | Total | 760,063 | 714,408 | - Revenue recognition point: Sales are recognized when control of the product is transferred (i.e., product is delivered to the customer)[16] - Customer credit period: Generally 60 to 180 days, new customers may be required to pay a deposit or cash on delivery[16] Other Income The Group's other income, comprising government grants, scrap sales, interest income, and miscellaneous income, decreased to RMB 14,933 thousand in 2025, mainly due to reductions in government grants and miscellaneous income Other Income Composition | Income Item | 2025 (thousand RMB) | 2024 (thousand RMB, restated and re-presented) | | :--- | :--- | :--- | | Interest Income | 975 | 626 | | Government Grants | 4,695 | 7,966 | | Scrap Sales | 7,663 | 8,018 | | Miscellaneous Income | 1,600 | 3,426 | | Total | 14,933 | 20,036 | - Government grants: Issued by local government authorities to support the Group's operations and encourage innovative production technologies, and the enjoyment of such grants is unconditional[17] Segment Information The