Financial Performance - Total new orders for Q3 2025 amounted to HKD 3,620.7 million (USD 463 million), representing a quarterly decrease of 3.5% but an annual increase of 14.2%[2] - Sales revenue for Q3 2025 was HKD 3,661.2 million (USD 468 million), reflecting a quarterly increase of 7.6% and an annual increase of 9.5%[5] - Adjusted net profit for Q3 2025 was HKD 101.9 million, down 24.4% quarter-on-quarter but up 245.2% year-on-year[5] - The adjusted gross margin for Q3 2025 was 37.7%, a decrease of 203 basis points quarter-on-quarter and 330 basis points year-on-year[2] - Adjusted operating profit for Q3 2025 was HKD 124.4 million, a decrease of 26.6% quarter-over-quarter and 30.3% year-over-year[16] - The company reported a net loss of HKD 268,599 for Q3 2025, compared to a profit of HKD 134,338 in Q2 2025[29] - The company reported a total comprehensive loss of HKD 363,322 for Q3 2025, compared to a comprehensive income of HKD 863,463 in Q2 2025[29] - For the three months ended September 30, 2025, the company reported a loss attributable to shareholders of HKD (269,877) thousand, compared to a profit of HKD 131,214 thousand for the previous quarter[34] - The basic loss per share for the three months ended September 30, 2025, was HKD (0.65), while the adjusted earnings per share was HKD 0.24[37] - The gross profit for the three months ended September 30, 2025, was HKD 1,305,750 thousand, with a gross margin of 35.7%, which adjusted to HKD 1,379,634 thousand and a gross margin of 37.7%[37] - The operating profit for the same period was HKD 50,480 thousand, which adjusted to HKD 124,364 thousand[37] - The semiconductor solutions segment reported a gross profit of HKD 701,959 thousand with a gross margin of 37.3%, which adjusted to HKD 775,843 thousand and a gross margin of 41.3%[41] - The company recognized a one-time inventory write-off of HKD 73.9 million in Q3 2025 due to a product simplification plan[33] - The company recognized a one-time inventory write-off related to the voluntary liquidation of a subsidiary in the semiconductor solutions segment, impacting the financial results significantly[35] Sales and Orders - Q4 2025 sales revenue is forecasted to be between USD 470 million and USD 530 million, indicating a quarterly increase of 6.8% and an annual increase of 14.3% at the median[3] - In Q3 2025, the total new orders amounted to HKD 3,620.7 million (USD 463 million), representing a quarterly decrease of 3.5% but an annual increase of 14.2%[16] - Sales revenue for Q3 2025 reached HKD 3,661.2 million (USD 468 million), reflecting a quarterly growth of 7.6% and an annual growth of 9.5%[16] - The semiconductor solutions segment recorded sales revenue of HKD 1,879.8 million (USD 240 million), a quarterly decline of 6.5% but an annual increase of 5.0%[20] - The surface mount technology solutions segment achieved sales revenue of HKD 1,781.4 million (USD 228 million), with a quarterly increase of 28.0% and an annual increase of 14.6%[25] - The total unfulfilled orders at the end of the quarter were approximately USD 868 million[18] - Semiconductor solutions segment sales for Q3 2025 reached HKD 1,879,838, while surface mount technology solutions segment sales were HKD 1,781,362, contributing to total sales revenue of HKD 3,661,200[32] Market Trends and Demand - The advanced packaging business continues to benefit from strong demand driven by artificial intelligence, particularly in high bandwidth memory and advanced logic applications[7] - Demand in the mainstream business is primarily driven by data centers and electric vehicles in the Chinese market, with increased utilization rates in outsourced semiconductor assembly and testing[14] - The company anticipates stable demand from China, although the recovery outlook for the automotive and industrial end markets remains uncertain[26] - The company has not faced significant impacts from tariff policies but acknowledges existing uncertainties and will continue to monitor the situation closely[26] - The total potential market for TCB is projected to exceed $1 billion by 2027, driven by investments in the AI ecosystem and demand for advanced packaging[26] Operational Efficiency and Cost Management - The company expects to save approximately HKD 128 million (RMB 115 million) in future years due to the voluntary liquidation of AEC, enhancing operational cost efficiency[15] - R&D expenses for Q3 2025 were HKD 535,420, slightly increasing from HKD 525,888 in Q2 2025[27] Corporate Governance - The board of directors includes independent non-executive directors and executive directors, ensuring a diverse governance structure[44] Innovation and Collaboration - The company is actively collaborating with major logic and memory firms on various projects, indicating ongoing innovation and market expansion efforts[11] - The surface mount technology solutions segment has seen significant growth in new system-in-package (SiP) orders, supporting the development of artificial intelligence[13] - The company has secured repeat orders for its TCB solutions in both memory and logic sectors, showcasing its competitive edge in the advanced packaging market[8]

Financial Performance - Total operating revenue for the third quarter was approximately CNY 1.64 billion, a decrease of 23.54% compared to the same period last year[10] - Net profit attributable to shareholders was approximately CNY 516.75 million, an increase of 8.19% year-on-year[10] - The net profit after deducting non-recurring gains and losses was approximately CNY 533.16 million, representing a significant increase of 29.19% compared to the previous year[10] - The total profit for the third quarter was approximately CNY 717.73 million, an increase of 11.93% year-on-year[10] - Basic earnings per share for the reporting period were CNY 0.3024, reflecting a growth of 5.00% year-on-year[10] - Total revenue for the first three quarters of 2025 was approximately ¥5.39 billion, a decrease of 2.1% compared to ¥5.50 billion in the same period of 2024[41] - Operating profit for the first three quarters of 2025 reached ¥1.99 billion, an increase of 6.4% from ¥1.87 billion in 2024[41] - Net profit attributable to shareholders for the first three quarters of 2025 was ¥1.48 billion, up 5.4% from ¥1.40 billion in 2024[42] Assets and Liabilities - Total assets at the end of the reporting period reached approximately CNY 29.06 billion, an increase of 5.67% from the end of the previous year[12] - The company’s total equity attributable to shareholders decreased to ¥12.44 billion as of September 30, 2025, from ¥16.38 billion at the end of 2024, reflecting changes in retained earnings and other comprehensive income[39] - Total liabilities increased to ¥15.18 billion as of September 30, 2025, compared to ¥9.60 billion at the end of 2024, reflecting a significant rise in long-term borrowings[37] - Long-term borrowings increased to ¥9.24 billion as of September 30, 2025, from ¥6.38 billion at the end of 2024, indicating a strategy to leverage for growth[37] Cash Flow - Cash flow from operating activities for the year-to-date was approximately CNY 2.56 billion, an increase of 4.03% compared to the previous year[10] - Operating cash flow for the first three quarters of 2025 reached approximately $2.56 billion, an increase from $2.46 billion in the same period of 2024, reflecting a growth of 4.5%[45] - Cash inflow from investment activities totaled approximately $599.93 million in 2025, compared to $370.62 million in 2024, marking a significant increase of 62%[45] - Cash inflow from financing activities surged to approximately $6.84 billion in 2025, up from $1.04 billion in 2024, representing a growth of 558%[46] - The ending cash and cash equivalents balance for the first three quarters of 2025 was approximately $2.51 billion, compared to $1.66 billion in 2024, indicating a year-over-year increase of 51%[46] Investments and Acquisitions - The company completed the acquisition of 100% equity in two subsidiaries, enhancing its market position[13] - Other equity instrument investments increased by 4,873.12%, primarily due to the company's investment in Shenzhen Expressway Group[19] - Fixed assets rose by 71.31%, mainly from the expansion of Xuan Guang Expressway[19] - Investment payments surged by 3,271.68%, primarily due to investments in Shenzhen Expressway Group[20] - The company signed a share transfer agreement to acquire 7% of Shandong Expressway's total shares for RMB 3,018,706,016.44, which will allow the company to nominate one director on the board[33] Shareholder Information - The total number of common shareholders reached 25,655 by the end of the reporting period[21] - Anhui Transportation Holding Group Limited holds 30.71% of the shares, making it the largest shareholder[22] - The company has not engaged in any share lending or borrowing activities among the top shareholders[24] Traffic and Toll Revenue - In Q3 2025, total toll revenue increased by 16.24% year-over-year, reaching RMB 138,931 million compared to RMB 119,518 million in Q3 2024[28] - The average daily traffic flow for the 合宁高速公路 in Q3 2025 was 49,218 trips, a 1.87% increase from 48,313 trips in Q3 2024[28] - The 宣广高速公路 reported a significant increase in toll revenue of 321.35% year-over-year, amounting to RMB 30,556 million in Q3 2025 compared to RMB 7,252 million in Q3 2024[28] - For the first three quarters of 2025, total toll revenue reached RMB 391,468 million, reflecting a 13.83% increase from RMB 343,903 million in the same period of 2024[29] - The 宁淮高速公路天长段 reported a 11.25% increase in toll revenue, reaching RMB 51,194 million in Q3 2025 compared to RMB 46,017 million in Q3 2024[28] - The 宁宣杭高速公路 experienced a 24.48% decrease in traffic flow in Q3 2025, with 14,768 trips compared to 19,555 trips in Q3 2024[28] Corporate Governance - The company plans to cancel its supervisory board, transferring its powers to the audit committee of the board of directors, pending shareholder approval[34] Accounting and Standards - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the year of first implementation[47]

Financial Performance - The company's operating revenue for the third quarter reached CNY 7,082,947,288.33, representing a year-on-year increase of 7.91%[13] - Total profit for the quarter was CNY 851,623,704.73, showing a decline of 18.10% compared to the same period last year[13] - Net profit attributable to shareholders was CNY 663,601,698.58, down 12.63% year-on-year[13] - Basic earnings per share for the quarter were CNY 0.07, a decrease of 0.17 compared to the same period last year[13] - The weighted average return on net assets was 1.32%, down by 4.70 percentage points year-on-year[13] - The company reported a significant increase of 230.05% in other revenue, amounting to RMB 15,722.65 million[28] - Total revenue for the first three quarters of 2025 reached ¥21.84 billion, a 4.3% increase from ¥20.94 billion in the same period of 2024[37] - Operating income for the first three quarters of 2025 was ¥21.75 billion, up from ¥20.81 billion in 2024, reflecting a growth of 4.5%[37] - Total operating costs for the first three quarters of 2025 amounted to ¥18.96 billion, an increase of 6.2% compared to ¥17.85 billion in 2024[37] - Total comprehensive income for the first three quarters of 2025 was approximately ¥2.19 billion, compared to ¥2.12 billion in the same period of 2024, showing a slight increase[56] Research and Development - The company invested CNY 479,762,984.75 in research and development during the quarter, an increase of 15.97% compared to the previous year[13] - The R&D expenditure accounted for 6.77% of operating revenue, up from 6.11% at the end of the previous year[13] - Research and development expenses for the first three quarters of 2025 were ¥1.28 billion, compared to ¥1.16 billion in 2024, indicating a growth of 9.9%[37] - Research and development expenses increased significantly to ¥59.32 million, up 108.3% from ¥28.52 million in the previous year[54] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -3,750,436,480.80, indicating a significant decline of 210.29% compared to the previous year[13] - The net cash flow from operating activities decreased by 210.29% due to changes in deposits from the controlling shareholder's financial company[18] - The net cash flow from operating activities, excluding customer deposits and interbank placements, was -1,850,678,324.66 CNY, compared to -1,619,753,427.62 CNY in the previous period[20] - Cash flow from operating activities for the first three quarters of 2025 was negative at approximately -¥3.75 billion, compared to a positive cash flow of ¥3.40 billion in 2024[43] - The company reported a decrease in cash flow from operating activities, with a net cash decrease of CNY -2,896,558,348.87 for the first three quarters of 2025[45] - The company experienced a significant decrease in cash inflow from customer deposits and interbank placements, with a net decrease of approximately -¥1.90 billion in 2025 compared to an increase of ¥5.02 billion in 2024[43] Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 115,662,301,853.24, a decrease of 1.89% from the previous year[13] - The net assets attributable to shareholders increased to CNY 48,576,890,764.20, reflecting a growth of 1.15% year-on-year[13] - The total liabilities of the company as of September 30, 2025, were RMB 89,348,958,810.93, down from RMB 91,105,546,464.58 at the end of 2024[31] - The total liabilities as of September 30, 2025, were ¥64.73 billion, a decrease from ¥67.46 billion as of December 31, 2024[34] - The company's total equity rose to CNY 34,627,580,316.46 as of September 30, 2025, compared to CNY 34,240,066,765.19 at the end of 2024[51] Shareholder Information - The total number of common shareholders at the end of the reporting period was 64,587[22] - The largest shareholder, China Railway Communication Signal Group Co., Ltd., holds 6,614,216,000 shares, representing 62.46% of total shares[22] Future Outlook - The company plans to expand its market presence and invest in new technologies to drive future growth[37]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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。 上海復旦微電子集團股份有限公司 Shanghai Fudan Microelectronics Group Company Limited* ( 在中華人民共和國註冊成立的股份有限公司 ) (股份編號: 1385) 2025 年第三季度報告 上海復旦微電子集團股份有限公司(「本公司」或「公司」)董事會(「董事會」)欣然宣佈，本公 司及各附屬公司(「本集團」或「集團」)截至 2025 年 9 月 30 日止九個月按照中國企業會計準則 編製的之第三季度未經審計合併業績報告。 本公告乃根據香港法例第 571 章證券及期貨條例第 XIVA 部項下內幕消息條文及香港聯合交易所有限公司證券上市規則第 13.09(2)和第 13.10B 條 的要求而作出。 重要內容提示： 公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、準確、完整，不 存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和 ...

Financial Performance - Total revenue for the third quarter of 2025 was RMB 139,249,323.84, representing a decrease of 85.48% compared to the same period last year[11]. - Net profit attributable to shareholders for the quarter was RMB 5,695,374.68, an increase of 57.36% year-over-year[11]. - Basic earnings per share for the quarter was RMB 0.0057, up 56.98% compared to the same period last year[11]. - Net profit attributable to shareholders for the year-to-date period was RMB 2,089,726.41, down 87.27% compared to the same period last year[11]. - Total operating revenue decreased by 76.77% to ¥461,782,507.83 compared to ¥1,987,514,255.44 in the same period last year[21]. - Operating profit decreased by 94.46% to ¥1,064,977.18 from ¥19,221,377.68, primarily due to reduced brokerage income and net interest income[24]. - Total profit dropped by 93.16% to ¥1,487,510.52 from ¥21,756,815.18, mainly due to decreased brokerage income and net interest income[24]. - Net profit decreased by 87.27% to ¥2,089,726.41 from ¥16,419,986.60, reflecting a significant reduction in total profit[25]. - Total comprehensive income for the current period is 200,542.79, a significant decrease from 15,093,914.36 in the previous period[40]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 12,532,567,660.71, reflecting a growth of 7.12% from the previous year[14]. - Total assets of the company as of September 30, 2025, amounted to CNY 12,532,567,660.71, an increase from CNY 11,699,369,620.88 at the beginning of the period, reflecting a growth of approximately 7.1%[34]. - The company's total liabilities increased to CNY 10,200,000,000, with a notable rise in payable margin deposits to CNY 9,925,702,816.22 from CNY 8,812,672,179.43, which is an increase of around 12.6%[35]. - Total liabilities increased from CNY 9,822,590,967.55 to CNY 10,665,666,242.37, representing a growth of 8.6%[36]. - Total equity attributable to shareholders decreased by 0.53% to RMB 1,866,901,418.34[14]. - Total equity attributable to shareholders rose slightly from CNY 1,866,901,418.34 to CNY 1,876,778,653.33, an increase of 0.6%[36]. Cash Flow - Cash flow from operating activities for the year-to-date period decreased by 64.13% to RMB 874,254,026.51[11]. - Cash inflow from operating activities totals 4,353,731,129.04, compared to 5,163,680,068.13 in the previous period, indicating a decline of approximately 15.6%[43]. - Net cash flow from operating activities is 874,254,026.51, down from 2,436,949,452.19, reflecting a decrease of about 64.1%[44]. - Cash inflow from investment activities is 16,284,329,874.91, an increase from 13,442,079,240.90 in the previous period[44]. - Cash inflow from financing activities is 110,721,640.00, significantly higher than 5,000,000.00 in the previous period[45]. - The ending cash and cash equivalents balance is 7,696,230,855.06, up from 6,915,986,078.89 in the previous period[45]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 54,428[26]. - The largest shareholder, Jiangsu Suhao Holding Group Co., Ltd., holds 27.33% of shares, totaling 275,456,777 shares[28]. - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 24.78% of shares, totaling 249,681,239 shares[28]. - The number of shares released from lock-up on August 8, 2025, was 431,642,122 shares, accounting for 42.83% of the total share capital and 56.94% of the A-share capital[32]. - The company has no significant changes in the participation of major shareholders in the securities lending business[29]. - The company has not disclosed any related party transactions or concerted actions among the top shareholders[29]. Other Financial Metrics - The weighted average return on net assets for the quarter was 0.31%, an increase of 60.71% year-over-year[11]. - The company reported a net profit excluding non-recurring gains and losses of RMB 5,519,223.26, up 74.57% year-over-year[11]. - Other comprehensive income after tax decreased by 42.46% to -¥1,889,183.62, mainly due to foreign exchange fluctuations[25]. - Comprehensive income total decreased by 98.67% to ¥200,542.79 from ¥15,093,914.36, primarily due to the reduction in net profit[25]. - The company’s long-term equity investments slightly increased to CNY 8,768,835.07 from CNY 8,709,774.28, showing a marginal growth[35]. - The derivative financial liabilities rose to CNY 37,170,223.03 from CNY 9,859,658.01, indicating a significant increase in financial obligations[35]. - The company has approved a cash dividend distribution plan for the fiscal year 2024, with dividends to be distributed on August 8, 2025[30]. Operational Changes - The company did not report any significant new product developments or market expansion strategies during the quarter[11]. - The company has not undergone an audit for the third quarter financial report[46].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （於中華人民共和國註冊成立之股份有限公司） （股份代號：1772） 內 幕 消 息╱海 外 監 管 公 告 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》（「上市規則」） 第13.09(2)條及第13.10B條 的 披 露 義 務 及 證 券 及 期 貨 條 例（香 港 法 例 第 571章）第XIVA部 項 下 的 內 幕 消 息 條 文（定 義 見 上 市 規 則）而 作 出。 重 要 內 容 提 示： 是 ✓ 否 – 1 – 1. 江 西 贛 鋒 鋰 業 集 團 股 份 有 限 公 司（「公 司」或「本公司」）董 事 會（「董 事 會」）、監 事 會 及 其 董 事、監 事、高 級 管 理 人 員 保 證 截 至2025年9月30 日 止3個 月（「本報告期」） ...

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產生或因依賴 該等內容而引致之任何損失承擔任何責任。 Pharmaron Beijing Co., Ltd. 康 龍 化 成（ 北 京 ）新 藥 技 術 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：3759） 2025年第三季度報告 本公告乃由康龍化成（北京）新藥技術股份有限公司（「本公司」，連同其附屬公司 「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條及 第13.10B條以及證券及期貨條例（香港法例第571章）第XIVA部項下的內幕消息條 文（定義見上市規則）而作出。 以下為本公司的2025年第三季度報告。除本報告第四節第三部分按照國際會計準 則理事會頒佈的國際財務報告準則（「國際財務報告準則」）編製或另有註釋外，本 2025年第三季度報告所載之財務數據根據中國企業會計準則編製且未經審計。 1 康龍化成（北京）新藥技術股份有限公司 Pharmaron Beijing Co., Ltd. ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔 任 何 責 任。 00991 海外監管及內幕消息公告 2025 年第三季度報告 根 據 中 國 證 券 監 督 管 理 委 員 會 的 規 定，大 唐 國 際 發 電 股 份 有 限 公 司（「本 公 司」或「公 司」）需 於 第 一 季 度 和 第 三 季 度 刊 發 季 度 報 告。本 季 度 報 告 內 所 載 的 財 務 數 據 均 未 經 審 計，並 根 據 中 國 企 業 會 計 準 則 而 編 製。本 公 告 乃 為 本 公 司 根 據 證 券 及 期 貨 條 例（香 港 法 例 第 571 章）第 XIVA 部下之內幕消息條文 （根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）下 所 定 義）及 上 市規則第 13.09(2)(a) 及 13.10B 條 的 規 定 所 發 出。 重 要 內 容 提 示： ...

Financial Performance - Total revenue for the six months ended August 31, 2025, was HKD 11,993,000, a significant decrease of 87.2% compared to HKD 93,704,000 for the same period in 2024[3] - The company reported a profit of HKD 18,279,000 for the current period, compared to a loss of HKD 22,889,000 in the previous year, indicating a turnaround in performance[3] - Basic and diluted earnings per share for the current period were HKD 30.47, compared to a loss per share of HKD 47.16 in the previous year[4] - For the six months ended August 31, 2025, the total revenue was HKD 11,993,000, a significant decrease from HKD 93,704,000 in the same period of 2024, representing a decline of approximately 87.2%[19] - Total revenue for the group was approximately HKD 12.0 million, a decrease of about 87.2% compared to the same period last year[67] - The group recorded a profit and total comprehensive income of approximately HKD 18.3 million, compared to a loss of approximately HKD 22.9 million in the same period last year[91] Revenue Breakdown - Revenue from corporate finance advisory services increased to HKD 4,815,000 from HKD 4,347,000, reflecting a growth of 10.8%[4] - The income from corporate finance advisory services increased to HKD 4,815,000 in 2025 from HKD 4,347,000 in 2024, reflecting a growth of about 10.8%[19] - Revenue from securities trading and brokerage services rose to HKD 2,581,000, up from HKD 1,270,000, marking a growth of 103%[4] - The commission income from securities trading and brokerage services rose to HKD 2,581,000 in 2025, compared to HKD 1,270,000 in 2024, marking an increase of approximately 103%[19] - The group’s asset management business saw revenue increase by approximately 485.4% compared to the same period last year[67] - The total revenue from securities trading and brokerage services was HKD 32,633,000 for the six months ended August 31, 2025, up from HKD 29,487,000 in 2024[38] Assets and Liabilities - Total assets as of August 31, 2025, amounted to HKD 356,553,000, compared to HKD 353,027,000 as of February 28, 2025, showing a slight increase[5] - Current assets totaled HKD 354,079,000, a marginal increase from HKD 350,483,000 as of February 28, 2025[5] - The company’s net current assets increased to HKD 202,933,000 from HKD 184,578,000, indicating improved liquidity[6] - The total equity of the company as of August 31, 2025, was HKD 205,152,000, up from HKD 186,873,000 as of February 28, 2025[6] - The company’s total liabilities included a provision for credit losses of HKD 183,000 for the six months ended August 31, 2025, compared to HKD 105,000 in 2024[38] - As of August 31, 2025, the total receivables amounted to HKD 32,647,000, an increase from HKD 29,797,000 as of February 28, 2025, representing a growth of approximately 9.3%[20] Operational Highlights - The company continues to focus on expanding its financial services, including corporate finance advisory and asset management services, to enhance revenue streams[7] - The group participated in 6 IPO sponsorship projects during the period, up from 4 projects in the same period last year, generating revenue of approximately HKD 1.5 million[72] - The group participated in 16 financial advisory projects this period, generating revenue of approximately HKD 2.5 million, down from HKD 3.0 million in the same period last year[73] - The group engaged in 7 compliance advisory projects, with revenue of about HKD 0.8 million, compared to HKD 1.0 million last year[74] - The group completed 4 placement and underwriting projects, resulting in revenue of approximately HKD 1.4 million, a significant decrease from HKD 85.7 million in the previous year[76] Employee and Operational Costs - Employee costs for the six months ended August 31, 2025, totaled HKD 11,798,000, an increase from HKD 10,837,000 in 2024, reflecting a rise in salaries and allowances[26] - Other operating expenses decreased by approximately 92.0% to about HKD 7.1 million, primarily due to the absence of bond underwriting activities this period[89] - Employee costs increased by approximately 8.9% to about HKD 11.8 million, attributed to an increase in the number of professionals compared to the same period last year[90] Strategic Initiatives - The company plans to sell equity stakes in two unlisted companies at an appropriate time, having acquired shares in these companies for a total of approximately HKD 5,855,000[44] - The group plans to enhance its core business by expanding product offerings, improving service content, and broadening its customer base[109] - The group is actively exploring strategic opportunities for business diversification to drive long-term growth[109] - The group maintains a cautiously constructive outlook on global financial markets, acknowledging emerging opportunities while being aware of ongoing risks[107] Governance and Compliance - The audit committee has reviewed the group's unaudited condensed consolidated financial statements for the period[115] - The group has complied with the corporate governance code throughout the reporting period[112] - The company has confirmed that there are no competing businesses or conflicts of interest among directors and major shareholders as of the announcement date[119] - The company will issue its interim performance announcement and report, which includes all information required by listing rules, to shareholders and publish it on the Hong Kong Stock Exchange website and its own website[133]

Financial Performance - The company's operating revenue for the reporting period was CNY 5,520,668, representing a year-on-year increase of 1.64%[7] - The total profit for the reporting period was CNY 67,543, a decrease of 44.07% compared to the same period last year[7] - The net profit attributable to shareholders was CNY 16,287, down 82.90% year-on-year[7] - Basic earnings per share were CNY -0.0012, a decrease of 106.32% year-on-year[7] - Diluted earnings per share were also CNY -0.0012, reflecting the same percentage decrease[7] - The company reported a decrease in net profit excluding non-recurring gains and losses to CNY 15,563, down 68.83% year-on-year[7] - The weighted average return on net assets was -0.13%, a decrease of 2.47 percentage points compared to the previous year[7] - The total profit attributable to shareholders decreased by 44.07% during the reporting period[12] - Net profit attributable to shareholders dropped by 82.90% in the current reporting period[12] - Basic earnings per share fell by 106.32% compared to the previous period[12] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 279,167, not applicable for comparison[7] - The net cash flow from operating activities showed a decrease of 2.168 billion RMB year-on-year[13] - The company has strengthened cash flow management, resulting in a net inflow of cash from operating activities by the end of the third quarter[13] - As of September 30, 2025, the company's cash and cash equivalents increased to CNY 4,724,650 thousand from CNY 3,948,297 thousand as of December 31, 2024, representing a growth of approximately 19.6%[34] - Cash inflows from operating activities for the first three quarters of 2025 totaled CNY 15,940,053,000, slightly down from CNY 16,235,970,000 in 2024, a decrease of about 1.8%[53] - Cash outflows from operating activities for the first three quarters of 2025 were CNY 15,860,187,000, compared to CNY 18,324,372,000 in 2024, showing a reduction of approximately 13.4%[55] - The net cash flow generated from operating activities for the first three quarters of 2025 was CNY 79,866,000, a turnaround from a negative cash flow of CNY 2,088,402,000 in the same period of 2024[55] - The total cash and cash equivalents at the end of September 2025 amounted to CNY 4,170,219,000, an increase from CNY 3,806,017,000 at the end of December 2024, reflecting a growth of about 9.6%[61] Assets and Liabilities - The total assets at the end of the reporting period were CNY 41,919,831, an increase of 1.85% from the previous year[9] - The total liabilities as of September 30, 2025, were CNY 30,095,086 thousand, a decrease of 6.8% from CNY 32,311,462 thousand at the end of 2024[39] - Current liabilities totaled CNY 24,186,180 thousand as of September 30, 2025, slightly down from CNY 24,838,671 thousand at the end of 2024, indicating a decrease of 2.6%[38] - Non-current liabilities decreased to CNY 5,908,906 thousand as of September 30, 2025, from CNY 7,472,791 thousand at the end of 2024, representing a decline of 21%[39] - The total equity attributable to shareholders increased to CNY 9,509,473 thousand as of September 30, 2025, compared to CNY 6,582,409 thousand at the end of 2024, marking a growth of 44%[40] Contracts and Business Development - The company signed new contracts worth 21.46 billion RMB in the first three quarters of 2025, an increase of 21.68% year-on-year, with industrial contracts accounting for 95.58% of the total[23] - New signed EPC engineering contracts reached 18.25 billion RMB, up 29.92% compared to the same period last year[23] - The company achieved a significant increase in overseas contracts, signing 5.02 billion RMB, which is a 115.91% increase year-on-year[23] - The company successfully launched major projects, including the cloud copper zinc project and the aluminum new energy project, which have commenced production[24] Research and Innovation - The company has completed over 100 key research projects for the 2025 fiscal year, enhancing its technological capabilities[25] - The company has developed 20 new technologies that meet international advanced standards, breaking foreign monopolies in key equipment and processes[25] - The company was selected as one of the 62 entities for the Ministry of Industry and Information Technology's first batch of digital transformation centers, highlighting its innovation capabilities[25] - The company has implemented a technology achievement promotion plan to accelerate the commercialization of technological innovations[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 37,383[15] - The largest shareholder, China Aluminum Group, holds 72.85% of the shares[16] Legal Matters - The company is currently involved in multiple lawsuits with total amounts involved of CNY 9,342.18 thousand, CNY 10,713.25 thousand, and CNY 14,679.45 thousand, among others, with various stages of litigation[30] - The company has ongoing litigation with a total involved amount of CNY 1,428.94 thousand and CNY 2,764.19 thousand, both currently in the first instance[32] Comprehensive Income - Total comprehensive income for the first three quarters of 2025 reached CNY 302,449,000, compared to CNY 211,212,000 in the same period of 2024, representing an increase of approximately 43%[51] - The total comprehensive income attributable to the parent company's owners was CNY 256,593,000, up from CNY 100,857,000 in the previous year, indicating a growth of about 154%[51] - The total comprehensive income for the first three quarters of 2025 was CNY -29,981,000, compared to CNY -145,463,000 in 2024, showing a notable reduction in losses[77]