Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 53,685,000, a decrease of 41.6% compared to HKD 91,978,000 for the same period in 2024[3] - Gross profit for the same period was HKD 29,182,000, down 5.0% from HKD 30,717,000 year-over-year[3] - The company reported a net loss of HKD 5,606,000 for the six months ended September 30, 2025, compared to a net loss of HKD 14,627,000 in the prior year, representing a 61.7% improvement[5] - Basic and diluted loss per share was HKD 0.38, an improvement from HKD 1.00 per share in the previous year[4] - Total comprehensive income for the period was HKD 14,765,000, slightly down from HKD 15,264,000 in the same period last year[5] - The group reported a pre-tax loss of HKD 5,598,000 for the six months ended September 30, 2025, compared to a loss of HKD 14,622,000 in 2024[35] - Total revenue for the six months ended September 30, 2025, was HKD 53,685,000, down from HKD 91,978,000 in 2024, a decrease of about 42%[21] Assets and Liabilities - Non-current assets increased to HKD 1,092,633,000 as of September 30, 2025, compared to HKD 1,036,760,000 as of March 31, 2025[6] - Current liabilities rose to HKD 370,216,000 from HKD 308,766,000, indicating a 19.9% increase[7] - The company's total equity as of September 30, 2025, was HKD 1,256,675,000, up from HKD 1,241,910,000 at the end of the previous reporting period[7] - Cash and cash equivalents decreased to HKD 16,961,000 from HKD 36,074,000, reflecting a significant decline in liquidity[6] - The carrying value of investment properties increased to HKD 653,569,000 as of September 30, 2025, from HKD 641,576,000 at the beginning of the period[36] - The total accounts receivable as of September 30, 2025, is HKD 35,170,000, an increase from HKD 17,158,000 as of March 31, 2025[44] - The total accounts payable as of September 30, 2025, is HKD 32,613,000, slightly up from HKD 32,056,000 as of March 31, 2025[45] Revenue Breakdown - Revenue from property development and investment business decreased to HKD 9,455,000 in 2025 from HKD 49,520,000 in 2024, a decline of approximately 81%[21] - Revenue from the sale of medical equipment and home security products decreased to HKD 20,723,000 in 2025 from HKD 23,154,000 in 2024, a decline of about 11%[21] - Hotel operations revenue increased to HKD 15,688,000 in 2025 from HKD 8,038,000 in 2024, representing a growth of approximately 95%[21] - Revenue from external customers in Hong Kong was HKD 19,848,000, while revenue from mainland China was HKD 33,837,000 for the six months ended September 30, 2025[19] - The property development and investment segment recorded revenue of approximately HKD 17,274,000, down approximately 72% from HKD 60,786,000 for the same period last year[59] - Revenue from property sales in mainland China dropped sharply from approximately HKD 49,520,000 to about HKD 9,455,000, a decline of around 81%[60] Expenses and Financial Management - Total financial expenses decreased to HKD 7,201,000 in 2025 from HKD 12,752,000 in 2024, a reduction of approximately 43%[29] - The total rental income from investment properties decreased to HKD 7,819,000 in 2025 from HKD 11,266,000 in 2024, a decline of about 30%[21] - The group has developed a residential and commercial project named "Kaifeng Century Mansion" with an estimated construction area of about 210,500 square meters, of which approximately 190,000 square meters have been completed, generating total sales contracts of about RMB 767,000,000[88] - The group maintains a healthy liquidity position and adopts a prudent cash and financial management policy to ensure sufficient cash flow for debt repayment and business cash needs[78] Corporate Governance - The company has deviated from the corporate governance code by having the same individual serve as both Chairman and CEO, which is against the guideline C.2.1[115] - The audit committee, composed of three independent non-executive directors, reviewed the interim results for the six months ending September 30, 2025, and found them compliant with applicable accounting standards[118] - The company has adopted the standard code for securities trading as per the listing rules, confirming compliance from all directors until March 30, 2025[116] - The remuneration committee is responsible for reviewing the compensation policies for all directors and key executives, ensuring alignment with governance standards[120] - The nomination committee is tasked with reviewing the composition of the board and selecting candidates with the necessary skills and experience[119] Future Outlook and Strategy - The group is focusing on expanding distribution channels and introducing more diversified products in the medical equipment sector to stimulate sales growth, driven by increasing demand due to rising living standards and health awareness[95] - The group has established joint ventures with independent third parties to develop smart city solutions, targeting high-income consumers in major cities in Hong Kong and China[95] - The group aims to provide a range of smart city solutions in response to improving living and technological standards in Hong Kong, major cities in China, and Southeast Asia[97] - The group has successfully secured its first large airport project in mainland China, integrating over 18,000 video cameras with AI analysis capabilities[97]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 1,054,413,000, an increase of 3.2% compared to HKD 1,020,762,000 for the same period in 2024[4] - Gross profit for the same period was HKD 104,111,000, representing a 6.5% increase from HKD 97,642,000 in 2024[4] - Net profit attributable to equity holders of the parent company was HKD 15,448,000, up 5.9% from HKD 14,583,000 in the previous year[4] - Basic and diluted earnings per share were both HKD 1.51, compared to HKD 1.47 for the same period in 2024[4] - Total operating expenses increased to HKD 56,019,000 from HKD 48,246,000, reflecting a rise of 16.0%[4] - The company reported other income of HKD 2,983,000, down from HKD 3,498,000 in the previous year[4] - The cost of sales was HKD 950,302,000, an increase from HKD 923,120,000, indicating a rise of 2.9%[4] - The company incurred finance costs of HKD 10,705,000, a decrease from HKD 15,202,000, showing a reduction of 29.8%[4] - The effective tax rate for the period was approximately 15.5%, compared to 14.4% in the previous year[4] Assets and Liabilities - Total non-current assets increased from HKD 82,125 million to HKD 91,625 million, representing a growth of 11.5%[7] - Current assets rose from HKD 715,942 million to HKD 745,149 million, an increase of 4.1%[7] - Total liabilities increased from HKD 587,693 million to HKD 511,118 million, indicating a decrease of 12.9%[7] - Net asset value increased from HKD 249,081 million to HKD 286,949 million, reflecting a growth of 15.3%[7] - Total equity rose from HKD 282,508 million to HKD 244,043 million, a decrease of 13.6%[8] - The company's cash and cash equivalents increased from HKD 75,610 million to HKD 64,144 million, a decrease of 15.2%[7] - Trade receivables increased from HKD 398,237 million to HKD 349,867 million, a decrease of 12.1%[7] Revenue Sources - Revenue from Hong Kong decreased to HKD 85,707,000 from HKD 115,787,000, a decline of about 26% year-over-year[15] - Revenue from Mainland China slightly decreased to HKD 844,764,000 from HKD 857,043,000, reflecting a decrease of approximately 1.4%[15] - Major customers contributing to over 10% of total revenue included Customer A with HKD 109,573,000 and Customer B with HKD 161,284,000, while total revenue from major customers was HKD 383,357,000 compared to HKD 503,195,000 in the previous year, indicating a decline of about 23.8%[17] Market and Growth Strategy - The company plans to expand its market presence and invest in new product development to drive future growth[2] - The company is engaged in the import and export of connection products for the telecommunications and data communication industries[9] - The group primarily engages in the import and export of electronic components, with a focus on commercial radar and connectivity products used in telecommunications and data communication applications[14] - The company is experiencing strong growth in its AI-driven HPC business, with significant sales momentum from the integration of 800G/1.6T optical fiber solutions into AI-optimized HPC servers[44] - The AIoT market is expanding at a compound annual growth rate (CAGR) of 31.7%, with Asia leading industrial applications and Southeast Asia driving smart city development through edge computing[43] - The company is in advanced discussions for a strategic partnership with Mile Green Co Limited, which is expected to enhance its position in emerging markets and diversify revenue sources[45] Expenses and Costs - Total expenses for the current period were HKD 2,828 million, compared to HKD 2,400 million in the prior year, marking an increase of approximately 17.9%[23] - Selling and distribution costs increased by approximately HKD 1.4 million or 6.7% year-on-year, totaling approximately HKD 22.1 million, driven by increased salaries and transportation costs[50] - Administrative expenses rose by approximately HKD 7.8 million or 16.1%, reaching approximately HKD 56.0 million, mainly due to increased salaries, system security costs, and depreciation from new equipment purchases[51] - Financing costs decreased to approximately HKD 10.7 million from HKD 15.2 million in the previous year, attributed to lower interest rates and a reduction in bank borrowings from HKD 262.6 million to HKD 181.4 million[52] Corporate Governance - The company emphasizes good corporate governance as essential for effective management and shareholder value enhancement, adhering to all governance codes except for a specific provision regarding the separation of roles of the chairman and CEO[72][73] - The Audit Committee was established on January 25, 2021, consisting of three independent non-executive directors, to oversee the company's accounting policies and review interim financial statements[76] - The Risk Management Committee was established on January 25, 2021, consisting of three executive directors, with a focus on overseeing legal compliance risks and internal control procedures[77] Employee and Operational Information - The group had 131 employees as of September 30, 2025, an increase from 122 employees as of March 31, 2025[67] - The company has maintained a competitive level of employee compensation, with annual reviews based on individual performance and industry practices[67] Future Outlook and Plans - The company aims to utilize the net proceeds by the end of 2026, but may delay allocation if market conditions are unfavorable[70] - It is proposed that approximately 85.0% of the net proceeds (around HKD 30.0 million) be used for business opportunities in AI technology-related fields[64]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 102,096,000, a slight decrease of 0.9% compared to HKD 102,996,000 for the same period in 2024[4] - Gross profit for the period was HKD 77,277,000, down 3.0% from HKD 79,655,000 in the previous year[4] - The company reported a loss attributable to owners of HKD 12,567,000, compared to a loss of HKD 4,261,000 in the same period last year, indicating a significant increase in losses[4] - Adjusted net loss for the period was HKD 6,267,000, a decline from an adjusted profit of HKD 2,739,000 in the previous year[5] - The company reported a pre-tax loss of HKD 11,627,000 for the six months ended September 30, 2025, compared to a pre-tax loss of HKD 2,893,000 in the same period of 2024[18] - The company recorded a loss of approximately HKD 12,600,000 for the reporting period, compared to a loss of about HKD 4,300,000 in the same period last year[47] Assets and Liabilities - Total assets decreased to HKD 179,091,000 as of September 30, 2025, down from HKD 218,788,000 as of March 31, 2025[10] - Total assets as of September 30, 2025, were HKD 280,616,000, down from HKD 288,904,000 as of March 31, 2025[19] - The total liabilities increased to HKD 157,801,000 as of September 30, 2025, compared to HKD 153,559,000 as of March 31, 2025[19] - The company’s net current liabilities improved to HKD 51,389,000 from HKD 75,441,000, reflecting better short-term financial health[11] - Cash and cash equivalents increased to HKD 10,975,000 from HKD 5,532,000, indicating improved liquidity[10] - Cash and bank balances increased to approximately HKD 11,000,000 as of September 30, 2025, up from HKD 5,500,000 as of March 31, 2025[48] - Accounts receivable as of September 30, 2025, amounted to approximately HKD 23,357,000, down from HKD 23,998,000 as of March 31, 2025[26] - As of September 30, 2025, accounts payable amounted to approximately HKD 2,015,000, a decrease from HKD 3,856,000 as of March 31, 2025[29] - Total assets classified as held for sale amounted to approximately HKD 28,023,000, including investment properties and cash[28] Revenue Breakdown - Revenue from the health and beauty supplements and products business was HKD 99,419,000, down 0.8% from HKD 100,191,000 year-over-year[15] - The property investment business generated revenue of HKD 2,677,000, a decrease of 4.6% compared to HKD 2,805,000 in the previous year[15] - Revenue from health and beauty supplements decreased by approximately 0.8% to about HKD 99,400,000, primarily due to cautious consumer spending amid ongoing economic downturn in Hong Kong[39] Expenses - Employee costs increased to HKD 38,690,000 for the six months ended September 30, 2025, from HKD 36,070,000 in the previous year, reflecting a rise of 7.3%[20] - Sales and distribution expenses increased by approximately 29.6% to about HKD 29,300,000, driven by intensified advertising and promotional activities for new product launches[41] - Administrative expenses rose by approximately 4.0% to about HKD 51,800,000, primarily due to increased rent for designated counters and amortization of newly capitalized software[43] - Financing costs decreased by approximately 30.6% to about HKD 2,500,000, mainly due to a reduction in average borrowings and lower floating interest rates[45] Dividends and Shareholder Information - The company did not recommend any interim dividend for the two interim periods[23] - The company does not plan to declare an interim dividend for the reporting period, consistent with the previous year[57] - The company continues to meet the minimum public float requirement of 25% as per the Hong Kong Stock Exchange listing rules, with public shareholders holding approximately 49.47% of the issued share capital[62] Strategic Initiatives - The company successfully launched several new products during the reporting period, including "御藥堂強胃健" and "御藥堂參睡紫靈芝" to enhance its product offerings[34] - The company expanded its sales network by establishing an online store on e-commerce platforms like HKTVmall, aiming to reach a broader consumer base in Hong Kong[35] - The company is committed to sustainable growth through product diversification, continuous innovation via R&D, and expanding both offline and online sales channels[58] - The company plans to maintain strict cost management policies, implementing prudent cost control measures in procurement, advertising, logistics, and office expenses to sustain operational efficiency amid a challenging business environment[58] Acquisitions and Sales - A subsidiary, Yik Hsin Limited, was sold for HKD 28 million, with the transaction completed on October 16, 2025[59] - On September 12, 2025, the company announced the acquisition of 734,040,033 shares for a total consideration of HKD 18,384,960, representing approximately 24.65% of the company's issued share capital[60] - Following the completion of the acquisition, the acquirers held 1,516,534,033 shares, approximately 48.80% of the company's issued share capital[61] - The mandatory cash offer for all issued shares commenced on September 12, 2025, and concluded on November 4, 2025, with the acquirers owning approximately 50.53% of the company's issued share capital post-offer[61] Market Conditions - The overall retail sales in Hong Kong increased by approximately 2.1% compared to the same period last year, indicating a slight improvement in the retail market[32] - The Hong Kong retail market showed slight improvement during the reporting period, driven by the recovery of tourism and consumer activities, but geopolitical tensions and the strength of the HKD against non-USD currencies are expected to continue suppressing consumer sentiment in the short term[58] Compliance and Governance - The audit committee, composed of three independent non-executive directors, reviewed the interim financial statements for the period[69] - The interim report was approved by the board on November 26, 2025, and will be published in accordance with listing rules[70]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 871,143,000, a decrease of 48.7% compared to HKD 1,699,926,000 for the same period in 2024[4] - Gross profit for the same period was HKD 84,401,000, down 86.8% from HKD 640,711,000 in 2024[4] - The company reported a loss attributable to equity holders of HKD 740,152,000, compared to a loss of HKD 442,906,000 in the previous year, representing a 67.3% increase in losses[5] - The basic and diluted loss per share for the period was HKD 3.93, compared to HKD 2.35 in 2024[5] - Other income for the period was HKD 13,178,000, significantly higher than HKD 3,490,000 in the previous year[4] - The pre-tax loss for the six months ended September 30, 2025, was HKD 671.2 million, while for the same period in 2024, it was HKD 286.9 million[22] - The company's income tax expenses for the six months ended September 30, 2025, amounted to HKD 68,965,000, a decrease of 55.7% compared to HKD 155,956,000 for the same period in 2024[8] - The basic and diluted loss per share for the six months ended September 30, 2025, was HKD (740,152,000), compared to HKD (442,906,000) for the same period in 2024[28] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 1,542,407,000, down from HKD 1,789,261,000 as of March 31, 2025[7] - The company’s net current liabilities increased to HKD 829,820,000 from HKD 5,284,487,000, indicating a significant deterioration in liquidity[7] - Non-current liabilities included convertible bonds amounting to HKD 4,327,209,000 as of September 30, 2025[8] - As of September 30, 2025, the company has recognized a net debt of approximately HKD 4.81 billion and a net current liability of about HKD 829.8 million, resulting in a loss of approximately HKD 740.2 million for the period[13] - Accounts receivable as of September 30, 2025, totaled HKD 856,484,000, down from HKD 1,092,671,000[34] - Trade payables as of September 30, 2025, amounted to HKD 271,482,000, a decrease from HKD 301,305,000[35] - The debt portion of convertible bonds as of September 30, 2025, was HKD 3,064,671,000[36] - The company has a financing arrangement with a major shareholder, providing HKD 1.9 billion, with an outstanding amount of HKD 856.4 million as of September 30, 2025[12] Tax and Legal Matters - The total tax amount reassessed by the Mongolian Tax Dispute Resolution Committee for the fiscal years 2017 to 2020 is MNT 412.3 billion (approximately HKD 902.6 million)[11] - MoEnCo LLC received a revised tax demand from the Mongolian tax authorities, adjusting the total tax amount to 413,400,000,000 Mongolian Tugrik (approximately HKD 929,800,000) due to alleged underreporting of sales revenue[25] - The total provision for tax liabilities was HKD 955,600,000, which includes tax provisions and penalties of HKD 409,000,000[27] - MoEnCo is currently in legal proceedings to challenge the tax reassessment amounting to approximately HKD 902,600,000[26] - The company disagrees with the tax assessment based on processed coal market prices, as it exports unprocessed raw coal, which naturally has a lower selling price[71] - The tax dispute resolution committee ruled that MoEnCo must pay a total of 412.3 billion Mongolian Tugrik (approximately HKD 902.6 million) for the 2017-2020 tax years[71][78] - MoEnCo agreed to pay a settlement amount of 120.8 billion Mongolian Tugrik (approximately HKD 279 million) to the Mongolian tax authorities, primarily for the 2022 and 2023 tax years, to be paid in six installments[72][78] - The company has taken steps to resolve its tax disputes to address the issue of the auditor's disclaimer of opinion on the financial statements[75] - The company is actively seeking constructive dialogue with the Mongolian tax authorities to reach an amicable resolution regarding the tax disputes[74][78] Operational Performance - For the six months ended September 30, 2025, the coal mining segment reported revenue of HKD 871.1 million with a segment loss of HKD 332.2 million[17] - For the six months ended September 30, 2024, the coal mining segment reported revenue of HKD 1.70 billion with a segment loss of HKD 76.4 million[18] - Sales volume for coking coal was approximately 851,000 tons, down from 1,006,900 tons in the previous year[46] - Average selling price for coking coal was HKD 1,016.4 per ton, down from HKD 1,685.7 per ton in the previous year[46] - The production of coking coal and thermal coal was approximately 1.68 million tons and 895,100 tons, respectively, down from 2.04 million tons and 2.21 million tons in the previous fiscal period[61] - Approximately 1.53 million tons of raw coal were processed, resulting in about 1.20 million tons of washed coking coal, with recovery rates of 79.5% and 74.9% for the processing plants[62] - The company transported about 1.35 million tons of raw coking coal from Mongolia to Xinjiang during the fiscal period, down from 1.66 million tons in the previous year[63] - The largest customer accounted for approximately 61.3% of the company's revenue during the fiscal period, with sales of about 488,100 tons of washed coking coal[64] - Mongolia's coal exports increased by 2.3% year-on-year to 62.61 million tons in the first nine months of 2025, with China remaining the primary market[59] Strategic Initiatives - The company adopted a defensive strategy to mitigate the impact of declining coal prices in China[46] - The company implemented cost-saving measures, including renegotiating transportation terms with carriers[47] - The advanced smart coal washing plant for dry coal selection has recently commenced trial operations, expected to enhance operational efficiency and product quality[88] Employee and Governance - The company employed 780 full-time employees across Hong Kong, Mongolia, and China as of September 30, 2025[90] - The company has adopted a customized code for securities trading by directors, which is less stringent than the standard code outlined in the listing rules[94] - All directors confirmed compliance with the securities trading regulations during the financial period ending September 30, 2025, with no violations reported among relevant employees[96] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the six months ending September 30, 2025, and found no objections to the accounting methods adopted by the company[97] Market Conditions - China's GDP grew by 5.2% year-on-year in the first half of 2025, indicating strong economic resilience[57] - Global crude steel production decreased by 1.6% year-on-year to 1,373.8 million tons, with China's production at 746.3 million tons, down 2.9%[57] - The average export price of Chinese steel dropped by 9.5% year-on-year in the first nine months of 2025, reflecting a strategy of price reduction to increase volume[58] - In the first nine months of 2025, China's total coal production reached 3.57 billion tons, representing a year-on-year increase of 2%[59] - During the same period, China imported over 34.59 million tons of coal, a decrease of 11.1% year-on-year, with coking coal imports down by 6.4%[59] - The Mongolian economy continues to face pressure due to declining coal demand and prices, impacting public finances and leading to delays in infrastructure projects[66] Future Outlook - The company has no specific future plans regarding significant investments or capital assets as of the announcement date[84] - There were no significant investments or acquisitions involving subsidiaries or joint ventures during the financial period[83] - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the financial period[91] - The company has no significant contingent liabilities as of September 30, 2025[86]

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。 中期業績公佈 截 至2025年9月30日 止6個 月 財務摘要 未經審核中期業績 富士高實業控股有限公司* （「本公司」）董 事（「董 事」）會（「董事會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（「富士高」或「本集團」）截 至2025年9月30日 止6個 月（「中 期 期 間」）之 未 經 審 核 綜 合 業 績。 中期業績已經本公司審核委員會與獨立核數師遵照香港會計師公會頒佈之 香港審閱準則第2410號「由 實 體 的 獨 立 核 數 師 執 行 的 中 期 財 務 資 料 審 閱」審 閱。 * 僅供識別 - 1 - • 收 入：434,900,000港 元，下 跌15.8%（2024：516,400,000港 元） • 毛 利 率：20.3%，下 跌3.2個 百 分 點（2024：23.5%） • 歸 屬 本 公 司 股 權 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份 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。 （於百慕達註冊成立之有限公司） （股份代號 ： 2326） 截至二零二五年九月三十日止六個月之 中期業績公佈 中期業績 新源萬恒控股有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（統稱為 「本集團」）截至二零二五年九月三十日止六個月之未經審核簡明綜合業績，連同去年 同期之比較數字如下： 簡明綜合損益表 截至二零二五年九月三十日止六個月 | | | 截至九月三十日止六個月 | | | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | | | 附註 | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收益 | 3(a) | 371,705 | 291,858 | | 銷售成本 | | (370,912) | (297,279) | | 毛利╱（毛損） | | 793 | (5,421) | | 其他開支淨額 | 4 | ...

Financial Performance - For the six months ended September 30, 2025, the company reported a loss from continuing operations of HKD 64,549,000, compared to a loss of HKD 33,728,000 for the same period in 2024, representing an increase in loss of 91.5%[3] - Revenue from continuing operations decreased to HKD 51,047,000, down 30.4% from HKD 73,324,000 in the previous year[4] - The company recorded an operating loss of HKD 44,698,000, compared to an operating loss of HKD 5,263,000 in the prior year, indicating a significant deterioration in operational performance[4] - The net loss attributable to the company's owners for the period was HKD 45,804,000, an improvement from a loss of HKD 88,757,000 in the same period last year[5] - Total comprehensive income for the period was a loss of HKD 20,579,000, compared to a loss of HKD 89,599,000 in the previous year, showing a reduction in overall losses[6] - The company reported a pre-tax loss from continuing operations of HKD 64,530,000 for the six months ended September 30, 2025[17] - The group recorded a gross loss of HKD 27 million for the six months ended September 30, 2025, compared to a gross profit of HKD 9 million for the same period in 2024, primarily due to a one-time write-off related to a property redevelopment project[45] - The basic loss per share from continuing and discontinued operations was HKD 0.122 for the six months ended September 30, 2025, compared to HKD 0.236 for the same period in 2024[46] Revenue and Sales - Revenue from property sales for the six months ended September 30, 2025, was HKD 50,910,000, a decrease of 28.3% compared to HKD 70,932,000 for the same period in 2024[13] - Total revenue from continuing operations for the six months ended September 30, 2025, was HKD 51,047,000, a decline of 30.4% from HKD 73,324,000 in 2024[13] - The company had two customers contributing over 10% of total revenue, with sales of completed properties amounting to approximately HKD 38,000,000 and HKD 12,910,000 respectively[13] - The total expected revenue from existing contracts as of September 30, 2025, was HKD 137,000, which is anticipated to be recognized in the upcoming months[15] Assets and Liabilities - The company's total assets decreased to HKD 1,208,314,000 as of September 30, 2025, down from HKD 1,090,155,000 as of March 31, 2025[7] - Current assets increased to HKD 579,157,000, compared to HKD 485,136,000 at the end of the previous reporting period, indicating improved liquidity[8] - The company’s non-current liabilities remained stable at HKD 91,856,000, reflecting consistent long-term financial obligations[8] - The net asset value per share attributable to the owners was HKD 1.43, a slight decrease from HKD 1.54 as of March 31, 2025[3] - The fair value of investment properties decreased to HKD 2,500,000 as of September 30, 2025, from HKD 154,500,000 at the beginning of the year[28] - The total debt as of September 30, 2025, is HKD 152 million, representing 21.4% of total assets, a decrease from 26.8% as of March 31, 2025[61] - The net asset liability ratio is 10.2% as of September 30, 2025, down from 26.7% as of March 31, 2025, with net debt amounting to HKD 55 million[61] Dividends and Shareholder Returns - The company did not recommend an interim dividend for the six months ended September 30, 2025, maintaining a conservative approach amid ongoing losses[3] - The board did not recommend an interim dividend for the six months ended September 30, 2025, consistent with the previous period[46] - The board does not recommend the payment of an interim dividend for the six-month period ending September 30, 2025, consistent with the previous period where no dividend was declared[68] Investments and Acquisitions - The company acquired additional property, plant, and equipment amounting to approximately HKD 54,229,000 during the six months ended September 30, 2025[28] - The company acquired 100% equity of Cosmo Kingdom Holdings Limited for approximately HKD 57.569 million, completed on April 30, 2025[40] - The acquisition of 100% equity in Cosmo Kingdom Holdings Limited was completed for approximately HKD 57.57 million, approved by independent shareholders on September 16, 2024[47] - The group received HKD 120 million from the sale of its 50% stake in Quarella Holdings Limited, which sold its entire equity in a subsidiary for HKD 240 million[47] Operational Strategy - The company continues to focus on asset monetization and project delivery amidst market uncertainties, enhancing cash flow resilience[43] - The company is actively negotiating asset sales and progressing with property projects in Hong Kong, the US, and the UK[43] - The company maintains a cautious investment approach in the US, with the Winston project actively marketed to potential buyers and the Monterey Park Towne Centre project having resumed redevelopment[55] - The company is focused on enhancing shareholder returns through rigorous asset and investment management, including the sale of non-core assets and optimizing its real estate portfolio[55] - The company anticipates a cautious but optimistic outlook for the real estate market, supported by potential interest rate cuts and improved market sentiment[58] - The company aims to maintain financial flexibility and ensure timely delivery of ongoing projects while seeking high-potential development opportunities across different markets[59] Employee and Governance - The total employee count as of September 30, 2025, remains at 20, with total employee compensation (including director remuneration) amounting to HKD 14 million for the six-month period ending September 30, 2025[67] - The audit committee, composed of three independent non-executive directors, has reviewed the group's interim performance during the period[73] - The board believes that the current arrangement of the chairman and CEO roles being held by the same individual is in the best interest of the company, despite deviating from corporate governance codes[70] Risk Management - The company continues to monitor and review its credit policies to minimize credit risk in response to the macroeconomic environment, with most clients being reputable property developers, indicating no significant credit risk[66] - The company has not implemented any foreign currency or interest rate hedging policies but will consider appropriate hedging strategies if necessary[65] - The company has not engaged in the purchase, sale, or redemption of any listed securities during the period[69]

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 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 | | | | | | | | | | | | | | | | | | | | （未 | 經 | 審 | 核） | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | | | | | | | | | | | 截 | 至9月30日 | | 止 | 六 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公佈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。 ASIA ORIENT HOLDINGS LIMITED 滙漢控股有限公司** （於百慕達註冊成立之有限公司） （股份代號：214） 截至二零二五年九月三十日止六個月 中期業績公佈 | 財務摘要 | | | | | --- | --- | --- | --- | | （除另有註明外，金額以百萬港元列示） | | | | | | | 截至九月三十日止六個月 | | | | 二零二五年 | 二零二四年 | 變動 | | 收入 | 5,384 | 1,632 | +230% | | 股東應佔虧損 | (219 ) | ) (239 | -8% | | 每股虧損－基本 | 港元 (0.26 ) | 港元 (0.28 ) | -8% | | 股東應佔基礎利潤╱（虧損）* | 68 | ) (81 | 不適用 | | | 二零二五年 | 二零二五年 | | | | 九月三十日 | 三月三十一日 | | | 資產總值 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 佈 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 會 就 因 本 公 佈 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 LEGENDARY EDUCATION GROUP LIMITED 傳承教育集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8195） 截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的 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 瞭 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 應 經 過 審 慎 周 詳 的 考 ...