Financial Performance - Total revenue for the six months ended September 30, 2025, was HKD 1,208 million, a decrease of 1.8% compared to HKD 1,230 million in the same period of 2024[3] - Gross profit for the same period was HKD 300 million, reflecting a decline of 29.9% from HKD 428 million year-on-year[3] - The net loss attributable to equity holders of the parent was HKD 354 million, a significant increase of 511.6% compared to a profit of HKD 86 million in the previous year[3] - Basic and diluted loss per share was HKD (2.50), compared to earnings of HKD 0.61 per share in the prior year, marking a 509.8% decline[3] - The total comprehensive loss attributable to equity holders of the parent was HKD (306,164) thousand, compared to a profit of HKD 65,257 thousand in the same period last year[8] - The company reported a loss before tax of HKD 500,131,000 compared to a profit of HKD 117,073,000 in the same period last year[24] - The net profit for the period was HKD (513,501,000), a significant decline from HKD 131,827,000 in the previous year[24] - The group reported a net loss of HKD 354,492,000 attributable to equity holders of the parent for the six months ended September 30, 2025, compared to a profit of HKD 85,771,000 for the same period in 2024[32] Assets and Liabilities - As of September 30, 2025, the net asset value was HKD 6,181 million, down 8.8% from HKD 6,780 million as of March 31, 2025[3] - The asset-to-liability ratio increased to 59.8%, up by 1.1 percentage points from 58.7%[3] - The company's non-current assets totaled HKD 7,955,591 thousand as of September 30, 2025, down from HKD 8,225,712 thousand as of March 31, 2025[9] - Current assets decreased to HKD 4,753,109 thousand from HKD 5,503,300 thousand over the same period[9] - The company's total liabilities and equity as of September 30, 2025, were not specified but are critical for assessing financial health[9] - As of September 30, 2025, total current liabilities amounted to HKD 2,389,583,000, a decrease of 4.0% from HKD 2,488,640,000 as of March 31, 2025[10] - Total non-current liabilities were HKD 4,137,731,000, down from HKD 4,460,053,000, reflecting a reduction of 7.2%[10] - The total equity attributable to equity holders of the parent decreased to HKD 4,026,382,000 from HKD 4,332,547,000, a drop of 7.1%[10] Revenue Sources - Total income from customer contracts was HKD 1,051 million, while interest income from financial services was HKD 8.7 million[5] - Revenue from property sales was HKD 596,608,000, up 12.7% from HKD 529,585,000 in the previous year[21] - Revenue from pharmaceutical management and promotion services decreased to HKD 5,455,000 from HKD 6,451,000, a decline of 15.4%[20] - The company generated HKD 1,051,036,000 from customer contracts, an increase from HKD 1,029,274,000 in the prior year[20] - The group recognized a total of HKD 1,051,036,000 in revenue from property development, pharmaceuticals, market operations, and asset management combined[21] Expenses and Costs - The company reported a significant increase in financing costs, amounting to HKD 148.9 million, compared to HKD 172.8 million in the previous year[5] - Selling and distribution expenses for the current period were approximately HKD 249,000,000, an increase from HKD 232,100,000 for the same period in 2024[45] - Administrative expenses for the current period were approximately HKD 221,800,000, down from HKD 254,700,000 for the same period in 2024, reflecting ongoing cost-saving efforts[45] - The cost of services provided was HKD 78,987,000 for the six months ended September 30, 2024, while the cost of property sales increased to HKD 619,670,000 from HKD 433,485,000[25] Investment and Development - The group operates five reportable segments, including property development, property investment, market management, pharmaceuticals, and asset management[15] - The group is managing nine projects, with the addition of a new self-managed shopping mall, The Parkside, which is expected to enhance operational efficiency and tenant experience[86] - The group anticipates further expansion of its property management business driven by increased residential project deliveries and investments in professional management teams and advanced management technologies[87] - The group has a total land bank of approximately 966,200 square feet, including 464,000 square feet of properties under development and held for sale[56] Market and Economic Conditions - The Hong Kong economy showed strong performance in Q3 2025, with a year-on-year GDP growth of 3.8%, up from 3.1% in the previous quarter, leading to an annual GDP growth forecast adjustment to 3.2%[106] - The property market in Hong Kong is expected to recover significantly in the second half of 2025, supported by lower interest rates and improved buyer confidence[107] - The commercial property market remains sluggish, but the company successfully secured refinancing for its joint ventures, strengthening its capital structure and financial flexibility[110] Corporate Governance and Compliance - The board emphasizes high levels of corporate governance, focusing on transparency, accountability, integrity, and independence to enhance competitiveness and operational efficiency[119] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial information for the six months ending September 30, 2025[122] - The mid-term report will be published on the Hong Kong Stock Exchange website and the company's website, containing all information required by the listing rules[123]

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，概不就因本公佈全部 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。 CHINA AGRI-PRODUCTS EXCHANGE LIMITED 中國農產品交易有限公司 （於百慕達註冊成立之有限公司） （股份代號：0149） 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 中 國 農 產 品 交 易 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）之 董 事 會 （「董事會」或「董 事」）欣 然 宣 佈 本 集 團 截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月 （「本期間」）的 未 經 審 核 簡 明 綜 合 中 期 業 績，連 同 截 至 二 零 二 四 年 九 月 三 十 日 止 六個月（「二零二四年對應期間」）的比較數字。本中期簡明綜合財務資料未經審核， 但 已 由 本 公 司 審 核 委 員 會（「審核委員會」）審 閱。 – 1 – 簡明綜合損益及其他全面收益表 截至二零二五年九月三十日止六個月 | | | 截 ...

Financial Performance - Contracted sales (including joint ventures) increased by 31% to HKD 1,637 million compared to HKD 1,247 million in the previous year[2] - Revenue rose by 38% to HKD 608 million from HKD 442 million year-on-year[2] - The company reported a gross loss of HKD 17 million, a significant decline from a gross profit of HKD 93 million in the previous period, representing a 118% decrease[2] - Loss attributable to equity holders of the parent was HKD 384 million, a 496% increase from a profit of HKD 97 million in the prior year[2] - Basic and diluted loss per share was HKD 2.53, compared to earnings of HKD 0.64 per share in the previous year, marking a 495% decline[2] - The company recorded a net loss of HKD 465 million for the period, compared to a profit of HKD 95 million in the previous year[5] - The group reported a loss before tax of HKD 465,488,000, compared to a profit of HKD 94,884,000 in the prior year[11] - The company recorded a gross loss of approximately HKD 16,600,000 for the reporting period, compared to a gross profit of HKD 92,700,000 in the same period of 2024, due to lower average selling prices[31] - The company recorded a loss attributable to equity holders of approximately HKD 384.2 million, compared to a profit of HKD 96.9 million for the six months ended September 30, 2024, primarily due to losses from the sale of joint venture interests and property write-downs[39] Assets and Liabilities - Net asset value decreased by 14% to HKD 2,956 million from HKD 3,423 million[2] - The company's total non-current assets decreased to HKD 3,747 million from HKD 3,991 million[6] - Current assets dropped to HKD 2,796 million from HKD 3,279 million, reflecting a significant reduction in liquid assets[6] - Total liabilities decreased from HKD 3,847 million to HKD 3,588 million, indicating a reduction in financial obligations[7] - As of September 30, 2025, the group's total assets minus current liabilities amount to approximately HKD 5,632,100,000, with a current ratio of about 3.1[58] - The group's total bank borrowings as of September 30, 2025, are approximately HKD 2,707,300,000, with a debt ratio of about 76.2%[59] - The group has a capital commitment of approximately HKD 1,333,800,000 as of September 30, 2025, reflecting a slight increase from HKD 1,308,400,000 as of March 31, 2025[60] Revenue Sources - For the six months ended September 30, 2025, total revenue was HKD 607,514,000, a 37.5% increase from HKD 441,667,000 in the same period of 2024[12] - Property development revenue reached HKD 590,888,000, up 38.1% from HKD 427,856,000 year-on-year[11] - Revenue from property sales increased by approximately 38.1% to about HKD 590,888,000, driven by the sale and delivery of residential projects[28] - Revenue from asset management services rose by approximately 23.1% to about HKD 15,993,000, attributed to increased construction activities in joint ventures[29] - Other income and gains decreased to HKD 13,998,000 from HKD 24,333,000 year-on-year[12] - Interest income from bank deposits fell to HKD 1,243,000 from HKD 3,997,000 year-on-year[12] Sales and Projects - The total contracted sales for residential projects amounted to approximately HKD 1,637.2 million, representing an increase of about 31.3% compared to HKD 1,247.0 million for the same period last year[40] - The total area of contracted sales was approximately 58,320 square feet, reflecting a year-on-year growth of about 29.0% from 45,201 square feet[40] - The project FINNIE has achieved total contracted sales of approximately HKD 598.1 million, with 86 out of 90 residential units sold, representing about 95.6% of total units[41] - The project MOUNT POKFULAM has achieved total contracted sales of approximately HKD 912.7 million, with 4 out of 7 residential units sold, representing about 57.1% of total units[43] - The project PHOENEXT has achieved total contracted sales of approximately HKD 1,124.5 million, with all residential units sold, including sales of approximately HKD 305.9 million during the reporting period[44] - The project COASTO has achieved total contracted sales of approximately HKD 534.9 million, with 91 out of 93 residential units sold, representing about 97.8% of total units[45] - The project 101 KINGS ROAD has achieved total contracted sales of approximately HKD 1,760.1 million, with 188 out of 251 residential units sold, representing about 74.9% of total units[46] Corporate Governance - The company has complied with the Corporate Governance Code except for the absence of a chairman since February 8, 2021, and is actively seeking a suitable candidate[76] - Following the resignation of Mr. Li Yongsen, the board will consist of five directors, including three executive directors and two independent non-executive directors, effective from August 19, 2025[77] - The audit committee currently has two members, both of whom are independent non-executive directors, which does not meet the minimum requirement until November 14, 2025, when a new independent non-executive director is appointed[77] - The company emphasizes high standards of corporate governance, focusing on transparency, accountability, integrity, and independence to enhance competitiveness and operational efficiency[77] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2025[79] - The mid-term financial results announcement will be published on the Hong Kong Stock Exchange and the company's website, containing all information required by the listing rules[80] - The company has adopted a code of conduct for directors' securities transactions, which is in line with the standards set out in the Listing Rules[78] - The board of directors includes executive directors Mr. Deng Haokang, Ms. Cheng Deyun, and Mr. Yao Zhiwen, along with independent non-executive directors Mr. Song Zihua, Dr. Chen Haohua, and Ms. He Yaling[81] Sustainability and Future Plans - The group has established approximately HKD 3,800,000,000 in sustainability performance-linked loans and approximately HKD 1,600,000,000 in green loans, reflecting its commitment to sustainable development[71] - The group aims to expand its business in the student accommodation sector based on the successful foundation of the "日新舍" brand, leveraging its asset management expertise[55] - The group is actively seeking investment opportunities for asset upgrades and tenant mix optimization to enhance rental income stability amid a recovering commercial property market[69] - The group plans to continue selling unsold residential units and commercial spaces while maintaining prudent financial discipline to capitalize on market opportunities[70] - The group anticipates further expansion of its property management business due to an increase in residential project deliveries[56] - The group has established a framework agreement with AG for further joint ventures, with total investment commitments of USD 100,000,000 and USD 18,000,000 respectively[55] Employment and Operations - The group has 167 employees in Hong Kong as of September 30, 2025, an increase from 141 employees as of March 31, 2025[66] - The group manages nine projects as of the announcement date, with the addition of a new project, The Parkside, which is expected to enhance operational efficiency and tenant experience[56] - The overall occupancy rate of the group's investment properties exceeds 98%, excluding the recently acquired hotel, which is expected to be converted into student accommodation providing 226 beds by mid-2026[52] - The group has established a joint venture with AG to acquire and operate a property in Kowloon, which will offer a total of 720 rooms and 1,424 beds, achieving full occupancy status starting from the second academic year in September 2025, with rental income increasing by approximately 11.0% compared to the first academic year[54]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 322.8 million, a decrease of 6.9% compared to HKD 346.8 million in the same period of 2024[2] - Gross profit for the same period was HKD 165.3 million, down 9.2% from HKD 182.0 million year-on-year[2] - Profit attributable to equity holders of the parent was HKD 2.8 million, representing an 88.2% decline from HKD 23.7 million in the previous year[2] - Basic and diluted earnings per share decreased to HKD 0.25 from HKD 2.10, a drop of HKD 1.85[2] - The total comprehensive income for the period was HKD 1.91 million, a significant decrease from HKD 24.00 million in the previous year[5] - The group recorded a total net income of HKD 2,799,000 for the period, significantly lower than HKD 23,742,000 in the previous year, marking a decline of 88.2%[15] - The adjusted profit before tax for the group was HKD 2,539,000, compared to HKD 25,152,000 in the prior year, indicating a decrease of 89.9%[15] Revenue Breakdown - The Chinese medicine segment generated revenue of HKD 292,825,000, down from HKD 306,351,000, reflecting a decline of 4.4%[15] - The Western medicine segment's revenue decreased to HKD 28,635,000 from HKD 38,461,000, representing a decline of 25.5%[15] - The property investment segment reported revenue of HKD 1,357,000, down from HKD 2,031,000, a decrease of 33.2%[16] - For the six months ended September 30, 2025, total revenue was HKD 321,460,000, with the Chinese medicine segment contributing HKD 292,825,000 and the Western medicine segment contributing HKD 28,635,000[17] - Revenue from external customers for the Chinese medicine segment was HKD 292,825,000 for the six months ended September 30, 2025, compared to HKD 306,351,000 for the same period in 2024, indicating a decline of 4.4%[19] Assets and Liabilities - Net asset value as of September 30, 2025, was HKD 1,181.5 million, a slight increase of 0.2% from HKD 1,179.6 million[2] - Non-current assets increased from HKD 1,075,411,000 as of March 31, 2025, to HKD 1,114,226,000 as of September 30, 2025, indicating growth in long-term investments[7] - Current assets rose slightly from HKD 614,204,000 to HKD 621,023,000 during the same period, reflecting stable liquidity[7] - Total current liabilities increased from HKD 358,933,000 to HKD 481,833,000, suggesting a rise in short-term obligations[8] - Total interest-bearing liabilities amounted to approximately HKD 301,500,000, with an effective interest rate of about 4.0%, down from 6.1% as of March 31, 2025[51] Cash Flow and Liquidity - Cash and cash equivalents decreased by 8.4% to HKD 121.2 million from HKD 132.3 million[2] - The company reported cash and cash equivalents of HKD 121,169,000 as of September 30, 2025, up from HKD 132,316,000, showing a decrease in cash reserves[7] - The current ratio was approximately 1.3, a decrease from 1.7 as of March 31, 2025, indicating a decline in liquidity[51] Cost Management - Administrative expenses reduced to HKD 53.98 million from HKD 63.44 million, indicating cost control measures[4] - Sales and distribution expenses decreased slightly by approximately HKD 0.2 million or 0.1% to about HKD 131.7 million, offset by increased marketing costs for expanding e-commerce operations[37] - The cost of inventory recognized as an expense was HKD 144,593,000 for the six months ended September 30, 2025, compared to HKD 151,566,000 for the same period in 2024, showing a decrease of 4.6%[22] Strategic Initiatives - The company is committed to ongoing research and development, focusing on new products and technologies to enhance market expansion and competitiveness[9] - The group has adopted revised Hong Kong Financial Reporting Standards, which did not impact the interim financial results due to the nature of the currencies involved[11] - The group continues to focus on resource allocation and performance evaluation across its three operational segments: Chinese medicine, Western medicine, and property investment[12] - The group invested in technology enhancements, successfully implementing a cutting-edge Customer Relationship Management (CRM) system in Hong Kong and mainland China, and introduced an AI-based Traditional Chinese Medicine diagnostic system in flagship stores[43] Market Performance - The group experienced a 4.4% decline in sales from April to September 2025 compared to the same period in 2024, although sales showed signs of recovery during the October National Day holiday[42] - The group’s cross-border e-commerce business achieved a significant growth of approximately 154% during the period, driven by enhanced marketing strategies and expanded distribution channels[42] - The revenue from Western medicine and health food products decreased by 25.5% compared to the same period in 2024, despite the sustained market leadership of Pei Fu Ren cough syrup for fifteen consecutive years[45] Employee and Operational Metrics - The group employed 726 employees as of September 30, 2025, a decrease from 759 employees as of March 31, 2025[61] - The company maintained strict control over trade receivables to minimize credit risk, with overdue balances regularly reviewed by senior management[10] Future Outlook - The group aims to enhance brand competitiveness by providing reliable and diverse products to customers, fostering long-term partnerships with suppliers[62] - The company has established strategic partnerships in the Chinese market, expanding the distribution of its cough syrup through leading chain pharmacies and hospitals, which is expected to drive significant business growth in the coming years[64] - The group is committed to leveraging government support and technological advancements to lead the future development of the traditional Chinese medicine industry in the Greater Bay Area[63]

Financial Performance - For the fiscal year ending August 31, 2025, the company reported revenue of approximately RMB 1,445.4 million, a year-on-year increase of about 14.0% from RMB 1,268.5 million in 2024[5] - Gross profit for the fiscal year was approximately RMB 722.6 million, an increase of about 8.4% from RMB 666.3 million in 2024, with a gross margin of 50.0%, down 2.5 percentage points year-on-year[7] - Adjusted net profit for the year was approximately RMB 459.3 million, reflecting a year-on-year increase of 3.5% from RMB 443.8 million[4] - The pre-tax profit was approximately RMB 495.9 million, an increase of about 1.7% from RMB 487.6 million in the previous year[13] - Tax expenses for the year amounted to approximately RMB 37.6 million, a 3.0% increase from RMB 36.5 million in 2024[14] - The company's profit attributable to shareholders for the year ended August 31, 2025, was RMB 458,293,000, compared to RMB 451,090,000 for the previous year, representing a growth of 1.5%[80] - Basic earnings per share for the year ended August 31, 2025, increased to RMB 0.382 from RMB 0.376 in 2024, reflecting a rise of 1.6%[80] Enrollment and Student Growth - The number of enrolled students increased to 55,667, representing a growth of 3.0% compared to 54,017 in the previous year[4] - Total enrollment across three schools exceeds 55,000 students as of August 31, 2025, reflecting a 3.0% increase from the previous year[26] - The number of students at Huazhong University increased to 25,291 from 25,162, while Huazhong Vocational College saw an increase to 25,023 from 21,441[27] - User enrollment across all educational institutions increased by 15%, totaling 50,000 students as of the end of the reporting period[94] Expenses and Costs - Administrative expenses rose to approximately RMB 181.9 million, a 30.6% increase from RMB 139.3 million in 2024[9] - Employee benefits expenses rose to RMB 462,130,000, a significant increase of 26.9% compared to RMB 364,457,000 in 2024[70] - Total operating expenses, including cost of sales and administrative expenses, reached RMB 950,406,000, up from RMB 770,758,000, reflecting a 23.3% increase[70] Assets and Liabilities - Total assets of properties, plants, and equipment as of August 31, 2025, are approximately RMB 5,259.7 million, a year-on-year increase of about 7.1% from RMB 4,909.9 million as of August 31, 2024[17] - The company's total equity rose to RMB 4,303,095, up from RMB 3,818,054, an increase of 12.7%[53] - The company's total borrowings as of August 31, 2025, were RMB 2,049,210,000, with RMB 152,214,000 due within the next twelve months[58] - Current liabilities exceeded current assets by RMB 640,558,000 as of August 31, 2025[58] - The company's liabilities for construction and purchase of non-current assets increased to RMB 310,483,000 in 2025 from RMB 205,797,000 in 2024, representing a rise of 50.8%[86] Financial Management and Governance - The audit committee, composed of three independent non-executive directors, has reviewed the financial statements for accuracy and completeness[49] - The company has adopted a standard code of conduct for securities trading, ensuring compliance among all directors and relevant employees[48] - The company plans to continue enhancing its corporate governance practices to align with business growth and legal standards[46] - The company is committed to complying with the Hong Kong Financial Reporting Standards and has adopted new and revised standards effective from September 1, 2024[60] Future Outlook and Strategic Initiatives - The company anticipates a revenue growth forecast of 25% for the next fiscal year, projecting revenues to reach RMB 1.875 billion[94] - New product offerings in vocational training programs are expected to launch in Q2 2026, aiming to capture an additional 10% market share[94] - The company is expanding its market presence in southern China, targeting an increase in operational schools from 10 to 15 by the end of 2026[94] - A strategic acquisition of a local educational institution is in progress, which is expected to enhance the company's service offerings and increase student enrollment by 5,000[94] - The company has invested RMB 200 million in technology development to enhance online learning platforms, aiming for a 30% increase in user engagement[94] - The board has approved a new marketing strategy that includes a 15% increase in advertising budget to boost brand awareness[94] - The company plans to implement a new performance-based compensation structure for educators, which is expected to improve teaching quality and student satisfaction[94] Compliance and Regulatory Matters - The company is committed to adhering to the new regulations set forth by the Ministry of Education, ensuring compliance and operational efficiency[94] - The group benefits from various tax incentives in China, with certain subsidiaries enjoying a reduced corporate tax rate of 3%[76] - The group has not reported any single customer contributing over 10% of total revenue, indicating a diversified customer base[67] Miscellaneous - The board has resolved not to declare any final dividend for the year ending August 31, 2025, consistent with the previous year[40] - No significant acquisitions or disposals were reported for the year ending August 31, 2025[22] - The company has not incurred any significant contingent liabilities as of August 31, 2025[24] - No significant events affecting the company or its subsidiaries have occurred after the reporting period and up to the announcement date[36] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[44] - The annual general meeting is scheduled for January 23, 2026, with a record date for shareholder voting set for January 23, 2026[41]

截 至2024年12月31日止年度年報及 2025年6月30日止六個月中期報告 茲 提 述 中 國 泰 凌 醫 藥 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」） 所刊發截至2024年12月31日 止 年 度 之 年 報（「年 報」）及 截 至2025年6月30日止六個 月 之 中 期 報 告（「中期報告」）。除 另 有 界 定 者 外，本 公 告 所 用 詞 彙 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 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。 （於開曼群島註冊成立之有限公司） （股份代號：1011） 補充公告 除 年 報 及 中 期 報 告 披 露 的 資 料 外，本 公 司 董 事 會（「董事會」）謹 此 向 本 公 司 股 東 及 潛 在 投 資 者 提 供 以 下 ...

Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 22,774,000, representing an increase of 1.98% compared to HKD 22,334,000 for the same period in 2024[6] - The company reported a pre-tax profit of HKD 35,000, a significant recovery from a loss of HKD 2,038,000 in the previous year[6] - The net profit attributable to the owners of the company was HKD 35,000, compared to a loss of HKD 2,033,000 in the same period last year[7] - The total comprehensive income for the period was HKD 36,000, recovering from a loss of HKD 2,048,000 in the previous year[7] - For the six months ended September 30, 2025, the company reported a total comprehensive income of HKD 36,000, which includes a profit of HKD 35,000[9] - Profit before tax for the six months ended September 30, 2025, was HKD 35,000, a significant improvement from a loss of HKD 2,033,000 in 2024[27] - The group recorded a profit attributable to owners of the company of HKD 35,000 for the six months ended September 30, 2025, compared to a loss of HKD 2.0 million for the same period in 2024[43] Revenue Breakdown - Revenue from medical consultation services decreased to HKD 462,000 from HKD 535,000 year-over-year[18] - Revenue from prescription and dispensing services decreased to HKD 3,797,000 from HKD 4,112,000 year-over-year[18] - Revenue from treatment services increased to HKD 18,515,000 from HKD 17,687,000 year-over-year[18] - The revenue from medical consultation services, prescription and dispensing services, and treatment services accounted for 2.0%, 16.7%, and 81.3% of total revenue, respectively[42] Assets and Liabilities - The company's total assets decreased to HKD 50,003,000 as of September 30, 2025, down from HKD 57,443,000 as of March 31, 2025[8] - Current liabilities decreased to HKD 38,754,000 from HKD 43,313,000, indicating improved liquidity management[8] - The company's cash and cash equivalents decreased to HKD 12,492,000 from HKD 17,344,000, reflecting a reduction in available cash[8] - As of September 30, 2025, the company had a net current liability of HKD 7,849,000, primarily due to contract liabilities of HKD 20,897,000[15] - The net current liabilities of the group were HKD 7.8 million as of September 30, 2025, compared to HKD 6.2 million as of March 31, 2025[55] - The group's debt-to-asset ratio was 39.8% as of September 30, 2025, slightly up from 39.7% as of March 31, 2025[56] Cash Flow - The company generated a net cash outflow from operating activities of HKD 1,372,000 for the six months ended September 30, 2025, compared to a cash inflow of HKD 982,000 in the same period of 2024[10] - The company recorded a net decrease in cash and cash equivalents of HKD 4,853,000 for the six months ended September 30, 2025[10] - The group's bank balance and cash amounted to HKD 12.5 million as of September 30, 2025, down from HKD 17.3 million as of March 31, 2024[55] Employee and Management Costs - Employee costs decreased by approximately HKD 1.0 million or 7.8% to HKD 11.2 million for the six months ended September 30, 2025, down from HKD 12.2 million for the same period in 2024[48] - Total compensation for key management personnel for the six months ended September 30, 2025, was HKD 4,490,000, down from HKD 5,297,000 in 2024[38] - The group employed 28 full-time and 13 part-time employees as of September 30, 2025, compared to 27 full-time and 16 part-time employees as of March 31, 2025[64] Future Outlook and Strategy - The company has not provided specific guidance for future performance but indicated a focus on improving operational efficiency and exploring market expansion opportunities[6] - The group aims to enhance resilience and competitiveness by implementing operational optimization measures and improving marketing strategies to strengthen customer loyalty and engagement[44] - The group plans to continue focusing on non-surgical, non-invasive, and minimally invasive medical beauty treatments, which are seeing increasing demand[44] Dividends and Share Options - The company did not declare an interim dividend for the six months ended September 30, 2025, consistent with the previous year[27] - The board did not recommend the payment of an interim dividend for the six months ended September 30, 2025[54] - The new share option plan, effective from September 27, 2024, is designed to attract and retain top talent, providing eligible participants with opportunities for personal equity ownership[77] - No share options were granted, exercised, vested, lapsed, or cancelled during the six months ending September 30, 2025[78] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial statements for the six months ending September 30, 2025, confirming compliance with applicable accounting standards and GEM listing rules[79] - The company has adopted a code of conduct for securities trading by directors and employees, with no known violations during the six months ending September 30, 2025[73] - The board of directors is committed to maintaining a positive relationship among its members and ensuring that the board's actions align with the company's best interests[72] - The company is led by Dr. Jiang, who serves as both the chairman and CEO, overseeing overall operations and business strategies[72]

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倚賴該等內容而引致之任何損失承擔任何責任。 WINSON HOLDINGS HONG KONG LIMITED 6812 截至2025年9月30日止六個月的中期業績公告 永順控股香港有限公司（「本公司」，連同其附屬公司，統稱為「本集團」）董事（「董 事」）會（「董事會」）宣佈本集團截至2025年9月30日止六個月的未經審核簡明綜合 業績。本公告列載本公司2025年中期報告全文，並符合香港聯合交易所有限公司 證券上市規則（「上市規則」）有關中期業績初步公告附載資料的相關規定。 INTERIM REPORT 中期報告 2025 Madam Ng Sing Mui (Chairperson) Ms. Sze Tan Nei Mr. Ang Ming Wah (Retired on 21 August 2025) Mr. Sze Wai Lun Independent Non-executive Directors Mr. Yuen Ching Bor S ...

Financial Performance - The company reported revenue of approximately HKD 791.9 million for the six months ended September 30, 2025, representing an increase of about 38.2% or HKD 218.7 million compared to the same period in 2024[3]. - The net profit for the same period was approximately HKD 2.9 million, a decrease of about HKD 0.9 million or 23.3% from HKD 3.8 million in 2024[3]. - Basic and diluted earnings per share were approximately HKD 0.29, down from HKD 0.37 in the previous year[3]. - Total revenue increased by approximately HKD 218.7 million or 38.2% to about HKD 791.9 million for the six months ended September 30, 2025, compared to approximately HKD 573.2 million for the same period in 2024[25]. - Gross profit decreased by approximately HKD 3.6 million or 9.2% to about HKD 35.8 million for the six months ending September 30, 2025, with a gross margin of approximately 4.5% compared to 6.9% for the previous period[29]. - Net profit attributable to owners decreased by approximately HKD 0.9 million or 23.3% to about HKD 2.9 million, primarily due to increased subcontracting costs and additional costs related to engineering defects[34]. Dividend and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[3]. - The company did not recommend an interim dividend for the six months ended September 30, 2025[18]. - As of September 30, 2025, the total issued shares of the company are 1,013,000,000[52]. - Mr. Wu holds 645,000,000 shares, representing 63.67% of the total shares[51]. - No share options were exercised or forfeited during the six months ending September 30, 2025[60]. - The company has a stock option plan that allows for a maximum of 10% of the total issued shares to be granted as options, equating to 100,000,000 shares[63]. - The exercise price for the granted stock options is set at HKD 0.40 per share[60]. - The company has granted stock options totaling 10,000,000 shares to Wu Caihua, representing approximately 0.99% of the issued shares as of September 30, 2025[70]. - Lin Jiahui has been granted stock options totaling 3,000,000 shares, which is about 0.30% of the issued shares[70]. - The company has issued stock options totaling 5,000,000 shares to other senior management and employees, accounting for approximately 0.49% of the issued shares[70]. Cash Flow and Assets - Operating cash flow generated was HKD 15.0 million, a significant improvement from a cash outflow of HKD 20.2 million in the same period last year[8]. - Total assets less current liabilities amounted to HKD 141.4 million, an increase from HKD 138.2 million as of March 31, 2025[5]. - The company’s cash and cash equivalents increased to HKD 65.0 million from HKD 50.1 million at the beginning of the period[8]. - Trade and other receivables rose to HKD 173.9 million from HKD 121.1 million, indicating improved collection or increased sales[5]. - The company’s total equity increased to HKD 139.6 million from HKD 136.7 million as of March 31, 2025[6]. - Total assets as of September 30, 2025, were approximately HKD 641.3 million, with total liabilities and equity of approximately HKD 501.7 million and HKD 139.6 million, respectively[35]. Expenses and Costs - Administrative and other operating expenses rose by approximately HKD 0.8 million or 2.6% to about HKD 30.2 million, mainly due to an increase in salary costs[31]. - Financing costs decreased to HKD 3.7 million from HKD 6.2 million, reflecting better management of debt[4]. - Financing costs decreased by approximately HKD 2.4 million or 39.5% to about HKD 3.7 million, attributed to lower interest rates and a reduction in bank borrowings from approximately HKD 186.4 million to HKD 137.4 million[32]. - Other income, including bank interest income, decreased to HKD 1.6 million for the six months ended September 30, 2025, from HKD 1.2 million for the same period in 2024[4]. - Other income increased by approximately HKD 0.4 million or 33.5% to about HKD 1.6 million, primarily due to increased funding from industry associations[30]. Business Strategy and Market Outlook - The company expects continued growth in the real estate market supported by a recovery in the leasing and property sales market, along with a declining interest rate environment[26]. - The company aims to diversify its business portfolio and strengthen its industry position while seeking opportunities in both private and public sectors[27]. - The company will continue to focus on its core business areas, including substructure and superstructure construction services, RMAA services, and leasing services[24]. - The company has no known business or interests that compete with its operations as of September 30, 2025[54]. Governance and Audit - The audit committee consists of three independent non-executive directors, with Zhou Jinrong serving as the chairman, possessing appropriate accounting and financial management expertise[71]. - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal control procedures and financial reporting matters[71]. - The unaudited interim financial statements for the six months ended September 30, 2025, have been reviewed by the audit committee along with management[71]. - The executive directors as of November 24, 2025, include Wu Caihua, Lin Jiahui, and Wu Huaying[73]. - The non-executive director is Tang Xiansen, while the independent non-executive directors are Wei Yongkang, Zhou Jinrong, and Wei Yanhua[73].

Restaurant Operations - The company opened six new restaurants during the six months ending September 30, 2025, increasing the total number of restaurants from 66 to 71[7]. - The total number of restaurants in Hong Kong increased from 60 to 65, with the addition of new brands such as 悅見 and 金龍[7]. - The company decided to close the Tirpse restaurant in Tsim Sha Tsui due to poor performance and will not renew leases for Same Same and 十里湘薈 in Shanghai[10]. - The total number of restaurants in mainland China remained stable at 6, with a slight reduction in the number of locations for 十里湘薈 and Same Same[7]. - The company aims to open new restaurants in the fourth quarter of 2025, including locations in 大圍圍方 and 荃灣如心廣場[8]. - The company has confirmed new lease agreements for additional restaurants, including two new locations for the QUE brand in Kowloon Bay[8]. - The company is developing a new ramen brand, Kumo Soba, as part of its expansion strategy[8]. - The company plans to continue exploring new locations in Hong Kong and mainland China for business expansion, in addition to existing lease agreements[26]. Financial Performance - For the first half of the fiscal year 2026, the company recorded a total revenue of HKD 655,620,000, representing an increase of 11.8% compared to the same period in fiscal year 2025[13]. - The total number of customers served across restaurants reached 2,891,820, an increase of 356,643 customers or 14.1% compared to the first half of fiscal year 2025[12]. - Average spending per customer decreased from HKD 231.2 in the first half of fiscal year 2025 to HKD 226.7 in the first half of fiscal year 2026, primarily due to the increase in lower-spending new restaurants[14]. - Net profit for the first half of fiscal year 2026 was approximately HKD 53,085,000, an increase of HKD 8,057,000 or 17.9% compared to the same period in fiscal year 2025[18]. - Revenue for the six months ended September 30, 2025, was HKD 655,620,000, representing a 11.8% increase from HKD 586,177,000 in the same period of 2024[52]. - Net profit for the period was HKD 53,085,000, up 17.8% from HKD 45,028,000 year-over-year[52]. - Basic earnings per share increased to HKD 14.0 from HKD 12.1, reflecting a 15.7% growth[53]. - Total comprehensive income for the period was HKD 53,432,000, compared to HKD 45,572,000 in the previous year, marking a 17.5% increase[53]. Expenses and Costs - Employee costs increased by approximately 10.7% to HKD 202,840,000, maintaining a stable percentage of 30.9% of total revenue[15][16]. - Property rental and related expenses grew by about 22.7% to HKD 35,764,000, reflecting the operation of more restaurants in the first half of fiscal year 2026[16]. - The company's tax expense for the six months ended September 30, 2025, was HKD 9,766,000, up 16.6% from HKD 8,378,000 in 2024[69]. Cash and Financial Position - The company had no bank borrowings as of September 30, 2025, with cash and cash equivalents amounting to HKD 242,400,000[19]. - The company maintained a net cash position, indicating no significant debt relative to equity[20]. - Cash and cash equivalents rose to HKD 242,436,000 from HKD 190,888,000, indicating a 27.0% increase[54]. - The company has no external borrowings and believes it has sufficient financial resources to meet its financial obligations for the next twelve months[60]. Shareholder Information - The board declared an interim cash dividend of HKD 0.080 per share for the six months ending September 30, 2025, compared to HKD 0.060 per share for the same period in the previous fiscal year, totaling approximately HKD 30,472,000[24]. - The company's dividend policy is to distribute no less than 50% of the profit attributable to shareholders[25]. - The expected cash dividend checks will be mailed to shareholders around December 22, 2025, with the risk of postal delays borne by the shareholders[24]. - As of September 30, 2025, Mr. Wong and Ms. Chan each hold 68.34% of the company's shares through controlled corporations[27]. - The total number of unexercised share options for Mr. Yu as of September 30, 2025, is 105,000 shares, representing approximately 0.03% of the total share capital[29]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the six months ended September 30, 2025[43]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2025[46]. - The audit report concluded that there were no significant issues found in the financial statements prepared in accordance with Hong Kong Accounting Standards[50]. - The company has adopted written guidelines regarding securities trading by directors, confirming compliance with the required standards during the period[45]. Market Conditions and Future Outlook - Future revenue is expected to fluctuate significantly due to global economic uncertainties, with notable earnings during peak seasons but lower-than-expected earnings in off-peak periods[26]. - The company emphasizes that providing value for money is key to its success, ensuring that dining experiences meet customer expectations[26].