Financial Performance - For the nine months ended September 30, 2025, the group's unaudited revenue was approximately HKD 4,708,687,000, a decrease of 28% compared to HKD 6,540,508,000 for the same period in 2024[4] - The operating profit for the same period was approximately HKD 635,459,000, down from HKD 841,290,000 in 2024, reflecting a decline of 24%[4] Contract Value - The total new contract value signed by the group for the nine months was approximately HKD 6.071 billion[5]

SANDMARTIN INTERNATIONAL HOLDINGS LIMITED 聖馬丁國際控股有限公司 * INCORPORATED IN BERMUDA WITH LIMITED LIABILITY 於百慕達註冊成立之有限公司 STOCK CODE 股份代號：482 2024 ANNUAL REPORT 年報 僅供識別 S and m artin International H olding s Limite d 聖 馬 丁 國 際 控 股 有 限 公 司 Annual Report 2 024 年報 SANDMARTIN INTERNATIONAL HOLDINGS LIMITED 聖馬丁國際控股有限公司 * CONTENTS 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Chairman's Letter to Shareholders | 主席致股東報告 | 4 | | Business Overview and Management Discussion and Analysis | 業務概覽及管理層討論與分析 | 6 ...

[Overview of Supplementary Information](index=1&type=section&id=Overview%20of%20Supplementary%20Information) This announcement provides supplementary information for China Shuifa Xingye Energy Group Limited's annual reports for the years ended December 31, 2023 and 2024, and interim report for the six months ended June 30, 2025 - This announcement provides supplementary information for China Shuifa Xingye Energy Group Limited's annual reports for the years ended December 31, 2023 and 2024, and interim report for the six months ended June 30, 2025[3](index=3&type=chunk) [Related Party Transactions](index=1&type=section&id=Related%20Party%20Transactions) [EPC General Contracting Services Framework Agreement](index=1&type=section&id=EPC%20General%20Contracting%20Services%20Framework%20Agreement) The company disclosed details of the EPC general contracting services framework agreement with Shuifa Group, including annual contract caps for 2024-2026 and actual transaction amounts for 2024, confirming compliance with listing rules and fair terms reviewed by independent non-executive directors and auditors - The Group entered into an EPC General Contracting Services Framework Agreement with Shuifa Group on November 5, 2024, for the Group to undertake certain EPC and related services for Shuifa Group, valid until December 31, 2026[4](index=4&type=chunk) EPC General Contracting Services Framework Agreement Annual Caps (Contract Amount) | Year | Cap (RMB) | | :--- | :--- | | For the year ended December 31, 2024 | 1,000,000,000 | | For the year ended December 31, 2025 | 1,200,000,000 | | For the year ended December 31, 2026 | 1,500,000,000 | - For the year ended December 31, 2024, the actual contract amount for transactions under the EPC General Contracting Services Framework Agreement was **RMB 517,355,000**[5](index=5&type=chunk) - Independent non-executive directors confirmed that the continuing connected transactions for the year ended December 31, 2024, were entered into in the ordinary and usual course of business, on fair and reasonable terms, in the overall interest of shareholders, and on normal commercial terms or better[5](index=5&type=chunk) - The auditors confirmed that the continuing connected transactions were approved by the Board, entered into in accordance with the Group's pricing policies and relevant agreements, and did not exceed the caps[6](index=6&type=chunk) - The company confirmed compliance with the disclosure requirements of Chapter 14A of the Listing Rules[7](index=7&type=chunk) [Share Award Scheme](index=3&type=section&id=Share%20Award%20Scheme) [Changes in Unvested Share Awards](index=3&type=section&id=Changes%20in%20Unvested%20Share%20Awards) This section details the changes in unvested share awards for directors, the five highest paid individuals, and other grantees for the years ended December 31, 2023 and 2024, and the six months ended June 30, 2025, including opening balances, grants, vesting, cancellations, and forfeitures [Year Ended December 31, 2023](index=3&type=section&id=Year%20Ended%20December%2031%2C%202023) This section presents the changes in unvested share awards for directors, five highest paid individuals, and other grantees for the year ended December 31, 2023 Changes in Unvested Share Awards for the Year Ended December 31, 2023 (thousand shares) | Participant Name or Category | Balance at January 1, 2023 (thousand shares) | Granted During the Year (thousand shares) | Vested During the Year (thousand shares) | Cancelled During the Year (thousand shares) | Forfeited During the Year (thousand shares) | Balance at December 31, 2023 (thousand shares) | Grant Date | Acquisition Price (HKD) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Directors** | | | | | | | | | | Mr. Chen Fushan | 1,400 | – | – | – | (420) | 980 | 29/12/2020 | 0.79 | | Mr. Liu Hongwei | 1,500 | – | – | – | (450) | 1,050 | 29/12/2020 | 0.79 | | Mr. Wang Dongwei | 1,400 | – | – | – | (420) | 980 | 29/12/2020 | 0.79 | | **Subtotal** | **4,300** | **–** | **–** | **–** | **(1,290)** | **3,010** | | | | Five Highest Paid Individuals | 2,300 | – | – | – | (690) | 1,610 | 29/12/2020 | 0.79 | | Other Grantees | 53,900 | – | – | (3,000) | (15,270) | 35,630 | 29/12/2020 | 0.79 | - As of December 31, 2023, directors, the five highest paid individuals, and other grantees held **3,010 thousand shares**, **1,610 thousand shares**, and **35,630 thousand shares** of unvested awards, respectively, totaling approximately **40,250 thousand shares**[8](index=8&type=chunk) [Year Ended December 31, 2024](index=4&type=section&id=Year%20Ended%20December%2031%2C%202024) This section details the changes in unvested share awards for directors, five highest paid individuals, and other grantees for the year ended December 31, 2024 Changes in Unvested Share Awards for the Year Ended December 31, 2024 (thousand shares) | Participant Name or Category | Balance at January 1, 2024 (thousand shares) | Granted During the Year (thousand shares) | Vested During the Year (thousand shares) | Cancelled During the Year (thousand shares) | Forfeited During the Year (thousand shares) | Balance at December 31, 2024 (thousand shares) | Grant Date | Acquisition Price (HKD) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Directors** | | | | | | | | | | Mr. Chen Fushan | 980 | – | – | – | (420) | 560 | 29/12/2020 | 0.79 | | Mr. Liu Hongwei | 1,050 | – | – | (1,050) | – | – | 29/12/2020 | 0.79 | | Mr. Wang Dongwei | 980 | – | – | (980) | – | – | 29/12/2020 | 0.79 | | **Subtotal** | **3,010** | **–** | **–** | **(2,030)** | **(420)** | **560** | | | | Five Highest Paid Individuals | 1,260 | – | – | – | (540) | 720 | 29/12/2020 | 0.79 | | Other Grantees | 35,980 | – | – | – | (15,420) | 20,560 | 29/12/2020 | 0.79 | - As of December 31, 2024, all unvested awards for Mr. Liu Hongwei and Mr. Wang Dongwei, totaling **2,030 thousand shares**, were cancelled, leading to a significant decrease in the directors' subtotal from 3,010 thousand shares to **560 thousand shares**[10](index=10&type=chunk) [Six Months Ended June 30, 2025](index=4&type=section&id=Six%20Months%20Ended%20June%2030%2C%202025) This section outlines the changes in unvested share awards for directors, five highest paid individuals, and other grantees for the six months ended June 30, 2025 Changes in Unvested Share Awards for the Six Months Ended June 30, 2025 (thousand shares) | Participant Name or Category | Balance at January 1, 2025 (thousand shares) | Granted During the Period (thousand shares) | Vested During the Period (thousand shares) | Cancelled During the Period (thousand shares) | Forfeited During the Period (thousand shares) | Balance at June 30, 2025 (thousand shares) | Grant Date | Acquisition Price (HKD) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Directors** | | | | | | | | | | Mr. Chen Fushan | 560 | – | – | – | – | 560 | 29/12/2020 | 0.79 | | Five Highest Paid Individuals | 720 | – | – | – | – | 720 | 29/12/2020 | 0.79 | | Other Grantees | 20,560 | – | – | – | – | 20,560 | 29/12/2020 | 0.79 | - During the six months ended June 30, 2025, the balance of unvested share awards remained unchanged, with no grants, vesting, cancellations, or forfeitures occurring[10](index=10&type=chunk) [Share Award Vesting Period and Conditions](index=5&type=section&id=Share%20Award%20Vesting%20Period%20and%20Conditions) This section clarifies the specific vesting schedule for share awards, including vesting percentages and dates for different tranches, emphasizing that all vesting is contingent upon achieving predefined performance targets - Award shares vest in three tranches over 24-36 months, 36-48 months, and 48-60 months from the grant date, with percentages of **30%**, **30%**, and **40%** respectively, all subject to performance targets[13](index=13&type=chunk)[12](index=12&type=chunk) Award Share Vesting Period and Percentage | Vesting Period (from Grant Date) | Vesting Date | Vesting Percentage | | :--- | :--- | :--- | | 24-36 months | December 28, 2023 | 30% | | 36-48 months | December 28, 2024 | 30% | | 48-60 months | December 28, 2025 | 40% | - No other awards were granted to other directors, the five highest paid individuals, or other grantees, except as already disclosed[13](index=13&type=chunk)

2025年第三季度報告 紫金礦業集團股份有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公 司及其附屬公司（統稱「本集團」）截至2025年9月30日止九個月根據中華人民 共和國財政部頒佈的《企業會計準則—基本準則》以及其後頒佈及修訂的具體會 計準則、應用指南、解釋以及其他相關規定編制的未經審計財務報告（「第三季 度報告」）。 本報告分別以中英文刊載。如中英文有任何差異，概以中文為準。 本報告中，除內容特別指明外，貨幣皆為人民幣。 2025年10月17日 中國福建 * 本公司之英文名稱僅供識別 紫金矿业集团股份有限公司 2025 年第三季度报告 证券代码：601899 证券简称：紫金矿业 紫金矿业集团股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 单位：元 币种：人民币 | | | 本报告期比上 | | 年初至报告期末 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 年同期增减变 | 年初至报告期末 | 比上年同期增减 | ...

Financial Performance - The company reported a consolidated income of $XX million for the fiscal year, representing a YY% increase compared to the previous year[62] - The Group recorded a consolidated turnover of HK$1,348,511,000 for the year ended June 30, 2025, representing a 5.7% increase from HK$1,276,350,000 in 2024[40][41][43] - Gross profit increased by 9.6% to HK$218,491,000, with a gross profit margin of 16.2%, up approximately 0.6 percentage points year-on-year[42][45] - Profit attributable to equity holders of the Company was HK$339,000, a turnaround from a loss of HK$18,041,000 in 2024, with basic earnings per share of HK0.09 cent compared to a loss per share of HK4.89 cents[40][42][43] User and Market Growth - User data showed an increase in active users by ZZ%, reaching a total of AA million users[70] - The company expects revenue growth of BB% for the next fiscal year, driven by new product launches and market expansion strategies[70] - The company is planning to expand its market presence in Southern China, targeting a market share increase of DD%[70] - A recent acquisition of a competitor is projected to enhance operational efficiency and increase market share by EE%[70] Research and Development - Research and development efforts have led to the introduction of two new products in the plastic materials sector, expected to contribute $CC million in revenue[70] Operational Efficiency and Cost Management - The gross profit margin improved to GG%, reflecting better cost management and pricing strategies[62] - The company has allocated $FF million for technology upgrades to improve production capabilities and reduce costs[70] - The Group will continue to optimize cost management and production plans to enhance capacity allocation flexibility[59] Corporate Governance and Management - The company has a strong governance structure with multiple committees led by experienced directors, ensuring effective oversight and strategic direction[25][29][30][33] - The management team comprises individuals with extensive industry experience, enhancing the company's operational capabilities and market positioning[34][35][36] - The board includes a diverse range of professionals with backgrounds in finance, business management, and engineering, contributing to well-rounded decision-making[25][29][30][33] Employee and Shareholder Relations - The board of directors has approved a dividend payout of $II million, maintaining a consistent return to shareholders[70] - The Group has approximately 628 full-time employees, with an incentive scheme linked to the Group's profit and employee performance[72] - The basic policy of the Group's compensation and reward plan is to comprehensively reward senior management for achieving annual and long-term performance goals[142] Market Diversification and Strategy - The Group plans to focus on balancing domestic and overseas operations while targeting emerging overseas markets to diversify its customer portfolio and mitigate risks from policy fluctuations[52] - The Group aims to strengthen end-customer development in Southeast Asia and Europe to reduce reliance on the US export chain[58] - The Group plans to diversify its customer base and production origins to enhance risk resistance and sustainable development capabilities[58] Financial Health and Risk Management - As of June 30, 2025, the Group had available banking facilities of approximately HK$662,792,000, with HK$355,619,000 utilized[64] - The Group's cash and cash equivalents amounted to approximately HK$193,161,000 as of June 30, 2025[64] - The gearing ratio as of June 30, 2025, was approximately 28.2%, calculated as net debt divided by total capital[64] - The Group maintains a defined credit policy and regularly monitors trade debtors to minimize credit risk associated with receivables[82] Corporate Social Responsibility - The Group emphasizes corporate social responsibility and has conducted various activities to support employees, the community, and the environment during the year[90] Share Options and Director Interests - The maximum number of shares available for issue under the share option scheme is 36,920,000, which represents 10% of the issued share capital as of the report date[119] - The total number of shares that may be allotted and issued upon exercise of all share options must not exceed 10% of the shares in issue as of December 17, 2022[125] - The interests of directors in the shares of the Company as of June 30, 2025, include a total of 10,000 shares held collectively, with Mr. HUI Sai Chung and Mr. HUI Kwok Kwong each holding 4,550 shares[158] Compliance and Audit - The financial statements have been audited by PricewaterhouseCoopers, who are eligible for re-appointment[176] - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the year ended June 30, 2025, except for the separation of roles between chairman and chief executive officer[181] - The Audit Committee comprises three Independent Non-executive Directors and has reviewed the accounting principles and practices adopted by the Group[172]

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產生或 因依賴該等內容而引致之任何損失承擔任何責任。 世 界 (集 團) 有 限 公 司 WORLD HOUSEWARE (HOLDINGS) LIMITED ( 於開曼群島註冊成立之有限公司 ) (股份代號: 713) 有關二零二四年報之補充公告 茲提述世界(集團)有限公司 (「本公司」)於二零二五年四月三十日所刊發「本公司」截至二 零二四年十二月三十一日止之年度報告（「年報」）。除文義另有所指外，「年報」已界 定的詞彙與本公告中具有相同涵義。本公告為「年報」提供補充資料，並應與「年報」一 併閱讀。 除「年報」內所披露外，「本公司」謹此補充有關以下「本公司」所有購股權計劃（「購 股權計劃」）的資料： 有關「年報」第34頁所載的表格中，披露如下： | | | | | | 於二零二四年 | | | | 於年內 | 於二零二四年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Share Options - The total number of share options available for grant under the post-IPO share option plan is 80,000,000, representing approximately 7.23% of the issued shares as of the report date[6] - The number of shares available for issuance under the pre-IPO share option plan is 26,300,000, accounting for about 2.38% of the issued shares as of the report date[7]

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的任何損失承擔任何責任。 Asia Television Holdings Limited 亞洲電視控股有限公司 用以釐定尚未行使購股權價值所採用的會計準則及政策如下： 授予董事及僱員的購股權。 向董事及僱員作出之以股權結算之以股份為基礎付款乃按授出股本工具於授出日期之公 平值計量。 –1– 以股權結算之以股份為基礎付款於授出日期釐定之公平值（並無計及所有非市場歸屬條 件）乃於歸屬期內根據本集團估計最終將予歸屬之股本工具按直線法支銷，並相應增加權 益（以股份為基礎付款之儲備）。於各報告期末，本集團根據對所有相關非市場歸屬條件 的評估修訂其對預期歸屬的股本工具數目的估計。修訂原有估計之影響（如有）於損益中 確認，以使累計開支能反映經修訂估計，而購股權儲備亦作出相應調整。 （於開曼群島註冊成立之有限公司） （股份代號：707） 二零二四年報的補充資料 茲提述亞洲電視控股有限公司（「本公司」）截至二零二四年十二月三十一日止年度的年度 ...

Financial Performance - For the year ended June 30, 2025, total revenue decreased to HK$480.6 million, down from HK$494.5 million in 2024, representing a decline of 2.0%[16] - Box office takings accounted for HK$389.2 million, a decrease of 3.9% from HK$401.9 million in 2024, representing 81.0% of total revenue[16] - Gross profit margin improved to 60.5%, up from 59.8% in the previous year[13] - Impairment allowances significantly decreased to HK$29.8 million from HK$430.5 million in 2024, indicating effective cost control measures[17] - Earnings before interest, tax, depreciation, and amortisation (EBITDA) turned positive at HK$54.6 million, compared to a loss of HK$416.2 million in 2024[17] - Net loss narrowed to HK$141.6 million, a significant improvement from a net loss of HK$715.1 million in 2024[17] - Basic loss per share improved to HK$0.04, compared to HK$0.22 in the previous year[17] - Other income contributed HK$91.4 million, slightly down from HK$92.7 million in 2024, accounting for 19.0% of total revenue[16] - The Group's performance outperformed the overall market trends in box office takings[16] - The cinema industry in Hong Kong experienced a 5.1% year-on-year decline in box office takings, totaling HK$1.2 billion[23] - The Chinese Mainland box office revenue decreased by 8.8% year-on-year, amounting to RMB 48.0 billion[24] Operational Strategy - The Group plans to capture market opportunities as the cinema industry revives, supported by government measures to enhance film quality and public cinema-going habits[35] - The Group aims to strengthen its core competencies to become the local market leader amid ongoing industry consolidation[36] - A new Emperor Cinema was opened in Sanlitun, Beijing, during the year, contributing to the Group's expansion strategy[29] - The Group's operational strategy includes exploring market expansion opportunities and potential mergers and acquisitions to drive growth[45] - The Group's strategic focus includes integrating digital technologies with premium services to enhance its position in high-end markets within the cultural industry[47] Financial Position - The Group's cash and cash equivalents were HK$49.8 million as of June 30, 2025, down from HK$84.6 million in 2024[37] - Total borrowings increased to HK$1,066.0 million as of June 30, 2025, compared to HK$977.0 million in 2024, with a gearing ratio of 182.6%[38] - The Group's borrowings include a loan from a related party of HK$995.7 million, which increased from HK$889.7 million in 2024[38] - As of June 30, 2025, the number of employees decreased to 585 from 708 in 2024, reflecting a reduction in workforce[43] - Total staff costs for the year amounted to HK$101.9 million, down from HK$127.3 million in 2024, indicating a cost reduction strategy[43] Market Trends - Box office takings from the Chinese Mainland and Hong Kong markets recorded declines of 0.5% and 4.7%, respectively, while overall market box office takings dropped by 8.8% and 5.1%[16] - The Group's user base decreased to 887 million, down from 1,284 million, reflecting a decline of approximately 30.9%[50] - The Group aims to achieve revenue of HK$1,066 million for 2025, an increase from HK$977 million projected for 2024, representing a growth target of approximately 9.1%[45] Corporate Governance - The Company is committed to high standards of corporate governance, ensuring accountability, responsibility, and transparency towards stakeholders[147] - The company fully complied with all code provisions of the Corporate Governance Code during the year[148] - The Board currently comprises five Directors, including two Executive Directors and three Independent Non-Executive Directors (INEDs)[155] - The company has established mechanisms to ensure independent views and input are available to the Board, which were reviewed and deemed effective[156] - A Board Diversity Policy has been adopted to achieve a diverse Board with a balance of skills and perspectives relevant to the business[157] Director and Executive Compensation - The Directors' remuneration policy is aligned with market best practices and is based on corporate goals, individual performance, and market pay levels[137] - Employee remuneration packages include basic salaries, bonuses, and competitive fringe benefits, ensuring alignment with individual performance and market standards[138] - The annual report emphasizes the importance of aligning executive compensation with the Group's long-term strategic objectives[137] Connected Transactions - The Company engaged in connected transactions with Ulferts, involving the purchase of furniture products and consultancy services, with an aggregate amount of HK$42,270 paid during the year[107] - The Company has complied with disclosure requirements under Chapter 14A of the Listing Rules regarding continuing connected transactions[130] - The terms of the tenancy transactions will be based on normal commercial terms or terms no less favorable than those offered by independent third parties[114] Future Outlook - The Group's financial performance is expected to improve, with a focus on strategic market expansion and new product development in the upcoming fiscal year[140] - The Group is actively pursuing market expansion strategies in Southeast Asia, aiming to increase market share by 15% over the next two years[190] - New product launches are expected to contribute an additional $200 million in revenue, with a focus on enhancing user engagement and retention[190]

Financial Performance - For the fiscal year ending June 30, 2025, the group recorded revenue of SGD 239.9 million, an increase of 79.3% compared to the previous year[8] - The group's revenue for the fiscal year ending June 30, 2025, was SGD 239.9 million, an increase of SGD 106.1 million or 79.3% compared to SGD 133.8 million for the previous fiscal year[19] - The cost of sales for the same period was SGD 215.3 million, up SGD 89.2 million or 70.7% from SGD 126.1 million in the previous year, reflecting increased construction activities[20] - Gross profit increased from SGD 7.7 million to SGD 24.6 million, with the gross profit margin rising from 5.8% to 10.3% due to new projects providing more stable profit margins[21] - The group recorded a net profit of SGD 12.8 million for the fiscal year ending June 30, 2025, compared to SGD 1.6 million for the previous year[27] - Cash and cash equivalents as of June 30, 2025, amounted to SGD 93.7 million, an increase of SGD 52.5 million from SGD 41.2 million in the previous year[28] - The current ratio as of June 30, 2025, was 1.3, consistent with the previous year's ratio[29] - The group's total current assets were SGD 155.3 million, up from SGD 76.3 million in the previous year[29] - The debt-to-equity ratio as of June 30, 2025, was 5.6%, down from 11.5% in the previous year[31] - Other income and gains increased to SGD 2.5 million from SGD 2.2 million, primarily due to higher average bank balances[22] Project Management and Operations - The group is managing eight ongoing projects with a total contract value of SGD 810.8 million, including a significant new contract worth SGD 201 million from the Singapore Ministry of Health[8] - As of June 30, 2025, the group has five construction projects with a total contract value of SGD 623.9 million, compared to SGD 609.8 million for the previous year[13] - The group completed its first Housing and Development Board (HDB) project and received the HDB Building Award in September 2025[14] - The group has successfully delivered multiple public sector projects while maintaining high quality and safety standards[7] - The group is focused on enhancing productivity, digitalization, and sustainable practices to improve efficiency and competitiveness[9] - The group aims to leverage its strong project pipeline and rigorous growth strategy to maintain market leadership and create shareholder value[9] - The group is focused on improving its technical capabilities and project management efficiency to drive future growth[49] Economic Outlook - The construction industry in Singapore grew by 6.0% year-on-year in the second quarter of 2025, an improvement from 4.9% in the first quarter[15] - The Ministry of Trade and Industry has revised the GDP growth forecast for 2025 from "0.0% to 2.0%" to "1.5% to 2.5%"[16] - The Singapore economy is expected to expand moderately between the second half of 2025 and 2026, supported by stable external demand and planned infrastructure projects[37] - The construction demand in Singapore is projected to be between SGD 47 billion and SGD 53 billion in 2025, driven by both public and private sector projects[38] - The construction industry faces challenges such as rising labor and material costs, tight labor supply, and global uncertainties affecting profit margins[39] Corporate Governance - The company is committed to maintaining high standards in financial reporting and corporate governance practices[54] - The company emphasizes the importance of corporate governance as a key element in creating shareholder value, adhering to the corporate governance code as of June 30, 2025[76] - The board of directors is composed of a majority of independent non-executive directors, exceeding the requirement of at least one-third as per listing rules[90] - The company has maintained a high level of corporate governance to gain and maintain shareholder trust[75] - The independent non-executive directors provide impartial opinions on the company's strategy and performance, ensuring the interests of all shareholders are considered[91] - The company has established mechanisms to evaluate the effectiveness of independent non-executive directors annually[93] - The board believes that the current balance of power and appropriate safeguards are in place, despite the dual role of the Chairman and CEO[99] Management and Team Experience - Tay Yen Hua has over 51 years of experience in secretarial, accounting, and human resources roles, overseeing the group's overall business operations and financial performance[48] - Huang Shan Da has over 32 years of experience in the Singapore construction industry, responsible for project management and enhancing the group's technical capabilities[52] - Kwan Shu Ming has over 19 years of experience in accounting and management, responsible for financial and accounting operations, including the preparation and publication of financial statements[53] - Lin Ya Lie has over 30 years of experience in accounting, auditing, and finance, providing advice on corporate governance matters to the board[54] - The company has a strong management team with extensive industry experience, enhancing its operational effectiveness and strategic direction[51] - The management team is actively involved in strategic planning and decision-making processes to ensure sustainable growth[51] Shareholder Communication and Dividends - The board has proposed a final dividend of HKD 0.02 per ordinary share, amounting to approximately HKD 16,000,000 (equivalent to SGD 2,600,000)[41] - The company has adopted a dividend policy that considers financial conditions and other factors before recommending any dividends[162] - The company will continue to review its dividend policy and retains the right to update or amend it at any time[165] - The annual general meeting is scheduled for December 18, 2025, during which the proposed dividend will be voted on[168] - The company ensures that all significant resolutions presented at the shareholders' meeting are voted on independently to protect shareholder rights[137] - The company maintains effective internal control and risk management systems to safeguard shareholder investments and group assets[140] Risk Management and Compliance - The company has implemented risk management procedures to avoid significant errors, losses, or fraud[142] - The company has not established an internal audit function as per corporate governance guidelines by June 30, 2025, but will continue to assess the need for such a function annually[144] - The company has established a clear organizational arrangement with defined responsibilities and authority lines for risk management[142] - The company has implemented a Whistleblowing Policy to provide reliable channels for reporting serious misconduct, with no significant fraud or misconduct reported affecting financial statements as of June 30, 2025[147] - The company has established an Anti-Bribery and Anti-Corruption Policy in May 2022, emphasizing the highest standards of integrity and ethical behavior in its operations[148] Share Option Plan - The maximum number of shares that can be issued under the share option plan is capped at 80,000,000 shares, which represents 10% of the total issued shares on the date of listing[178] - The share option plan will remain effective for a period of ten years starting from January 8, 2020, unless terminated early by shareholders[181] - The total number of shares that can be issued due to the exercise of options under the share option plan cannot exceed 1% of the company's issued share capital within any 12-month period[176] - The company’s share option plan allows for the issuance of options to employees, directors, and other selected participants as a reward for their contributions[175] - The exercise price of the options will be determined by the board and must be the highest of the closing price on the date of grant or the average closing price over the preceding five trading days[181] - The board believes that the share option plan will enhance the group’s ability to reward contributions from employees and directors[175] Related Party Transactions - The company has no significant contracts with controlling shareholders or their subsidiaries as of June 30, 2025[196] - There were no undisclosed related party transactions that required disclosure under the listing rules[185] - The company has complied with the disclosure requirements under the listing rules regarding related party transactions[185]