萬科海外投資控股有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董事會 （「董事會」）欣然公佈本集團截至二零二五年十二月三十一日止年度之綜合業 績 如 下： 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 會 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。 萬科海外投資控股有限公司 VANKE OVERSEAS INVESTMENT HOLDING COMPANY LIMITED （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：01036） 截至二零二五年十二月三十一日止年度 業績公告 業 績 – 2 – 綜合財務狀況表 綜合損益表 截至二零二五年十二月三十一日止年度 | 二零二五年 | 二零二四年 | 港幣千元 | 附 | 註 | 港幣千元 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | -- ...

Revenue Growth - Revenue increased by 53.3% from RMB 1,305.4 million for the year ending December 31, 2024, to RMB 2,001.0 million for the year ending December 31, 2025[4]. - Revenue from full-size humanoid robot products and solutions surged approximately 2,203.7% from RMB 35.6 million to RMB 820.6 million, becoming the largest revenue source for the company[4]. - In 2025, the revenue from full-size embodied intelligent humanoid robot products and solutions reached approximately RMB 820 million, representing a year-on-year growth of about 2,203.7%[26]. - The total sales volume for humanoid robots was 1,079 units in 2025, showing a year-on-year increase of 35,866.7%[26]. - Revenue from other intelligent robot products and solutions decreased by 16.9% from RMB 756.6 million in 2024 to RMB 628.7 million in 2025 due to incomplete project deliveries[58]. - Revenue from other intelligent hardware devices increased by 6.4% from RMB 468.0 million in 2024 to RMB 499.2 million in 2025, driven by the continuous launch of new products[58]. Profitability and Loss - Gross profit rose from RMB 374.0 million to RMB 753.8 million, with gross margin improving by 9 percentage points from 28.7% to 37.7%[4]. - Loss decreased from RMB 1,159.9 million to RMB 789.8 million for the same periods[4]. - Net loss for the year decreased from RMB 1,159.9 million in 2024 to RMB 789.8 million in 2025, driven by significant revenue growth from full-size humanoid robot products and solutions[70]. - Adjusted EBITDA (non-GAAP measure) improved from a loss of RMB 608.5 million in 2024 to a loss of RMB 437.5 million in 2025[74]. Production and Capacity - The company achieved an annual production capacity of over 6,000 full-size humanoid robots by the end of 2025, leading the global market in this sector[6]. - The Walker S series of humanoid robots is set to enter mass production and delivery in 2025, marking a new phase of large-scale application[5]. - The company achieved small-scale production and delivery of Walker S2 units in the thousands, indicating maturity and stability in its manufacturing process[8]. Research and Development - The company developed the BrainNet 2.0, an upgraded collaborative intelligence system for humanoid robots, enhancing industrial application capabilities[9]. - The Thinker model, a large AI model with hundreds of billions of parameters, was developed to automate tasks such as visual scene segmentation and action sequence classification[9]. - The company has developed a humanoid robot with multi-modal perception capabilities, achieving 360-degree spatial awareness through a self-developed 4D real-value system[15]. - The company has integrated advanced machine learning techniques to enhance the perception and interaction capabilities of its robots, achieving industry-leading performance in accuracy and generalization[18]. - The company is focusing on R&D advancements in embodied intelligence and model applications, launching a new version of the industry-specific robot model and a new general-purpose wheeled robot[39]. Industry Standards and Recognition - The company is actively involved in setting national standards for humanoid robots and embodied intelligence, enhancing its leadership role in the industry[5]. - The company has been recognized with multiple awards, including the "Advanced Collective Award" from the Guangdong Provincial Government and being listed in the Shenzhen Patent Top 100[22]. - The humanoid robot "Tiangong" won the title of the first "Flying Man" in humanoid robot history at the 2025 World Humanoid Robot Sports Conference, completing 100 meters in 21.5 seconds[24]. - The company was recognized with multiple awards, including the "2025 Annual Gold Hong Kong Stock Award" and the "Pioneer Enterprise Award for Social Responsibility" by Zhito Finance[24]. Financial Position and Assets - As of December 31, 2025, the company holds 2,985 granted patents, reflecting an 11.4% increase compared to the end of 2024, with 508 patents granted overseas[21]. - The company’s total liabilities as of December 31, 2025, amounted to RMB 2,885,993,000, slightly up from RMB 2,915,204,000 in 2024[83]. - Shareholders' equity increased to RMB 2,247,532,000 in 2025 from RMB 7,325,604,000 in 2024, reflecting a significant change in the company's financial structure[83]. - The company reported that over 90% of its non-current assets are located in mainland China as of 2025[88]. Employee and Operational Management - The company has a total of 2,550 full-time employees as of December 31, 2025, with 2,545 based in mainland China[43]. - The company aims to enhance its employee training programs to improve professional knowledge and management skills, ensuring alignment with industry standards[44]. - The company’s employee compensation expenses rose to CNY 815,316 in 2025, compared to CNY 695,335 in 2024, marking a 17.3% increase[92]. Strategic Collaborations and Market Expansion - Strategic collaborations were established with companies like Zhi Jie Tiao Dong and M8M to enhance the application of embodied intelligence in logistics and airport scenarios[36]. - The company aims to penetrate global markets by collaborating with over 50 strategic customers in various countries, exploring the application of intelligent robots in multiple sectors[40]. - The company has established stable partnerships with major channel merchants in Europe, America, Australia, and Southeast Asia, maintaining a leading position in the global market share of its smart pet equipment litter box series[42]. Capital Expenditures and Financial Management - Capital expenditures for 2025 amounted to RMB 613.5 million, representing a 53.2% increase from RMB 400.4 million in 2024[45]. - The company raised a total of 807,900,000 RMB through a private placement of 10,155,099 shares at 90.00 HKD per share in February 2025[101]. - The company plans to allocate HKD 476.35 million for the repayment of maturing amounts under credit facilities by September 30, 2026[119]. Corporate Governance - The company has adopted corporate governance principles in line with the listing rules, ensuring compliance with applicable standards[104]. - The board of directors believes that the current governance structure is appropriate, despite deviations from certain corporate governance codes[106].

Financial Performance - The total revenue for the year ended December 31, 2025, was RMB 406,243,000, representing a 20.8% increase from RMB 336,274,000 in 2024[3]. - The gross profit for the same period was RMB 140,315,000, up 17.7% from RMB 119,166,000 in 2024[3]. - The net loss for the year was RMB 216,723,000, compared to a net loss of RMB 125,777,000 in 2024, indicating a 72.2% increase in losses[3]. - The company reported a basic and diluted loss per share of RMB 0.094 for 2025, compared to RMB 0.079 in 2024, representing a 19% increase in loss per share[3]. - The total comprehensive loss for the year ended December 31, 2025, was RMB 216,723,000, compared to a loss of RMB 125,777,000 for the year ended December 31, 2024[29]. - The company reported a net other comprehensive income of RMB 19,265,000 for the year, compared to a net loss of RMB 37,749,000 in 2024[4]. - The company incurred financing costs of RMB 82,529,000 for the year ended December 31, 2025[27]. - Administrative expenses increased by approximately 34% to about RMB 115,120,000 for the year ended December 31, 2025, compared to RMB 86,136,000 for the previous year[76]. - The company's income tax expense for the year was RMB 31,882,000, an increase from RMB 24,817,000 in the previous year, representing a growth of approximately 28.5%[40]. Assets and Liabilities - The company's total assets increased to RMB 2,621,659,000 in 2025 from RMB 2,479,411,000 in 2024, reflecting a growth of 5.7%[5]. - Non-current assets rose to RMB 1,812,823,000 in 2025, up from RMB 1,632,028,000 in 2024, marking an increase of 11.1%[5]. - The total liabilities increased to RMB 2,740,669,000 in 2025 from RMB 2,392,742,000 in 2024, which is a rise of 14.5%[8]. - As of December 31, 2025, the company's accumulated losses and equity deficit were approximately RMB 2,148,381,000 and RMB 119,010,000, respectively, with current liabilities exceeding current assets by approximately RMB 300,750,000[18]. - The company's capital debt ratio rose from approximately 97% as of December 31, 2024, to 105% as of December 31, 2025, indicating increased leverage[85]. Revenue Breakdown - Revenue from power sales was RMB 222,020,000 in 2025, down from RMB 234,020,000 in 2024, indicating a decrease of approximately 5.1%[21]. - For the year ended December 31, 2025, total revenue from external customers was RMB 406,243,000, with wind power generating RMB 308,012,000 and energy storage services generating RMB 98,231,000[27]. - Revenue from wind farm operations for the year ended December 31, 2025, was approximately RMB 308,012,000, a decrease of about 8% compared to RMB 336,274,000 for the year ended December 31, 2024[57]. - Revenue from the energy storage station business was approximately RMB 98,231,000 for the year ended December 31, 2025, with no revenue reported for the previous year[58]. Impairments and Provisions - The expected credit loss provision for other receivables increased to RMB 52,201,000 in 2025 from RMB 28,681,000 in 2024, indicating an increase of 82.0%[3]. - Impairment loss for the construction of the Baotou Wind Power Plant was recognized at approximately RMB 27,032,000 for the year ending December 31, 2025, compared to zero in 2024[78]. - Impairment loss for prepayments related to the acquisition of property, plant, and equipment for the Baotou Wind Power Plant was approximately RMB 23,851,000 for the year ending December 31, 2025, also compared to zero in 2024[79]. Cash Flow and Financing - The company’s cash and cash equivalents decreased to RMB 219,342,000 in 2025 from RMB 244,609,000 in 2024, a decline of 10.3%[5]. - The company has unused loan facilities from financial leasing companies amounting to RMB 400,000,000 as of December 31, 2025[20]. - Financing costs amounted to approximately RMB 153,734,000 for the year ending December 31, 2025, up from RMB 132,318,000 in 2024, primarily due to increased bank loans and interest on new convertible bonds[80]. Strategic Initiatives - The company plans to issue 119,437,859 subscription shares for approximately RMB 21,046,000 and convertible bonds totaling approximately RMB 233,471,000, with shareholder approval obtained on March 6, 2026[20]. - The company is actively seeking quality cooperation and acquisition opportunities in the renewable energy sector, including solar and biomass energy[70]. - The company is committed to integrating renewable energy with the digital economy to contribute to carbon neutrality goals[70]. - The energy storage business is set to accelerate the construction of a 200 MW / 800 MWh hybrid energy storage project, aiming for commercialization breakthroughs[69]. - The company plans to enhance operational strategies for its existing 300 MW / 1.2 GWh energy storage station to improve profitability through market mechanisms[68]. Corporate Governance and Management - The company has adopted high standards of corporate governance principles to enhance management quality and protect shareholder interests[107]. - The audit committee reviewed the annual results for the year ending December 31, 2025, prior to submission to the board for approval[110]. - The executive directors are Yuan Wanyong (Chairman) and Zhang Zhixiang (CEO) as of March 31, 2026[116]. - The board includes independent non-executive directors Jiang Senlin, Qu Weidong, and Hu Xiaolin[116].

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倚賴該等內容而引致的任何損失承擔任何 責任。 浙江天潔環境科技股份有限公司 Zhejiang Tengy Environmental Technology Co., Ltd （於中華人民共和國成立之股份有限公司） （股份代號：1527） 截至二零二五年十二月三十一日止年度的 經審核年度業績公告 摘要 1 • 浙江天潔環境科技股份有限公司（「本公司」）及其附屬公司（統稱「本集 團」）截至二零二五年十二月三十一日止年度（「本年度」）的收益約為人 民幣753.8百萬元，與去年同期相比增加約1.2%。 • 本集團於本年度的本公司擁有人應佔溢利約為人民幣81.4百萬元，與去 年同期相比減少約3.8%。 • 本公司董事（「董事」及各為一名「董事」）會（「董事會」）不建議派付本年 度任何末期股息。 截至二零二五年十二月三十一日止年度的經審核年度業績 董事會欣然宣佈本集團於本年度的經審核綜合業績及二零二四年同期的經審 核比較數字如下︰ 綜合損益及其他全面收益表 ...

Financial Performance - For the year ended December 31, 2025, revenue was approximately RMB 3,329.9 million, a decrease of about 6.8% year-on-year[2] - Gross profit for the same period was approximately RMB 829.4 million, down approximately 6.0% year-on-year[2] - The loss for the year was approximately RMB 316.3 million, a reduction of approximately 43.4% compared to the previous year[2] - The company's basic and diluted loss per share for the year was RMB 15.49, compared to RMB 28.25 in the previous year[3] - Total customer contract revenue for 2025 was RMB 3,329,875, a decrease of 6.8% from RMB 3,573,469 in 2024[22] - The net loss for the same period was approximately RMB 316.3 million, which is a reduction in loss of about RMB 242.4 million compared to the previous year[36] - The gross profit was approximately RMB 829.4 million, with a gross margin maintained at around 24.9%[36] - The company reported a total loss for the year of RMB 316,287 thousand, with a pre-tax loss of RMB 149,274 thousand and income tax expense of RMB 167,013 thousand[16] Revenue Breakdown - For the fiscal year ending December 31, 2025, total segment revenue reached RMB 3,329,875 thousand, with residential property management services contributing RMB 1,675,181 thousand and non-residential property management and commercial operations contributing RMB 1,654,694 thousand[16] - Revenue from residential property management services decreased to RMB 1,675,181 in 2025, down 5.3% from RMB 1,769,176 in 2024[22] - Non-residential property management and commercial operation services revenue fell to RMB 1,654,694, a decline of 8.3% from RMB 1,804,293 in 2024[22] - The revenue from property management services within the residential segment slightly increased by 0.2% to approximately RMB 1,466.9 million in 2025[53] - The community value-added services revenue in the residential segment dropped significantly from RMB 222.1 million in 2024 to RMB 140.2 million in 2025, a decrease of 37%[65] - The total revenue from non-residential property management services in the Greater Bay Area decreased to RMB 599.0 million in 2025, down from RMB 746.0 million in 2024[57] Assets and Liabilities - Total non-current assets decreased to RMB 1,257.7 million from RMB 1,497.8 million year-on-year[5] - Current assets increased slightly to RMB 4,718.3 million from RMB 4,686.7 million year-on-year[5] - Total liabilities increased to RMB 2,824.6 million from RMB 2,548.5 million year-on-year[5] - The company's total equity decreased to RMB 2,793.4 million from RMB 3,142.1 million year-on-year[6] - Trade receivables increased to RMB 4,136,523 in 2025, up from RMB 3,805,535 in 2024, with a provision for impairment of RMB 1,394,241[32] Operational Efficiency and Strategy - The company is focusing on enhancing service quality and operational efficiency to navigate industry challenges and market adjustments[36] - The organization is optimizing its structure to improve operational efficiency, including the establishment of a supply chain management center to reduce operational costs[40] - The group aims to enhance operational efficiency through multi-dimensional strategies, including technology application and resource integration[47] - The company has strategically reduced its presence in financially pressured areas and is more rigorously selecting market opportunities in public construction and urban services[57] Governance and Compliance - The company has adopted the Corporate Governance Code and complied with the relevant rules, with a commitment to maintaining high standards of corporate governance[94] - The Audit Committee, consisting of three independent non-executive directors, reviewed the group's performance and risk management framework for the year ending December 31, 2025[98] - The independent auditor's work does not constitute assurance under the Hong Kong auditing standards, and no guarantees are made regarding the performance announcement[101] Future Outlook - Future industry growth is expected to be driven by the continuous release of consumer demand and the deep exploration of the value of existing assets[41] - The company plans to utilize the remaining unallocated net proceeds by December 31, 2027, although actual timing may vary due to market conditions[89] - The company continues to focus on core regions, with 57.1% of residential segment revenue coming from economically developed areas such as the Greater Bay Area and the Yangtze River Delta[53]

Financial Reporting - Hangzhou Diagens Biotechnology Co., Ltd. is preparing to release its preliminary financial results for the year ending December 31, 2025, on March 20, 2026[2] - The annual report for the year ending December 31, 2025, will be published by April 30, 2026, and will be available on the Hong Kong Stock Exchange and the company's website[3] - The company is committed to transparency and compliance with the Hong Kong Stock Exchange's listing rules regarding financial disclosures[3]

ZONQING Environmental Limited 中庆環境股份有限公司 （於開曼群島註冊成立之有限公司） 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倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：1855） 截至二零二五年十二月三十一日止年度之 年度業績公告 中慶環境股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二五年十二月三十一日止年度（「二零二五 財政年度」）之經審核年度業績，連同截至二零二四年十二月三十一日止年度（「二 零二四財政年度」）之比較數字。年度業績及財務資料已由本公司審核委員會（「審 核委員會」）審閱並由董事會批准。 – 1 – 綜合損益表 | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 附註 | 人民幣千元 | 人民幣千元 | | 收益 | 5 | 1,638,680 | 1,743,092 | | 銷售成本 | | (1,293,3 ...

Financial Performance - Total revenue for the fiscal year ending December 31, 2025, was HKD 6,590.1 million, an increase of 41.8% compared to HKD 4,647.9 million for the fiscal year ending December 31, 2024[3]. - Gross profit for the fiscal year ending December 31, 2025, was HKD 409.5 million, up 31.4% from HKD 311.7 million in the previous year[3]. - Net profit attributable to shareholders for the fiscal year ending December 31, 2025, was HKD 161.4 million, representing a 60.8% increase from HKD 100.3 million in 2024[3]. - Basic and diluted earnings per share for the fiscal year ending December 31, 2025, were HKD 0.3485 and HKD 0.3459, respectively, compared to HKD 0.2141 and HKD 0.2139 in 2024[3]. - Total comprehensive income for the fiscal year ending December 31, 2025, was HKD 173.4 million, compared to HKD 94.7 million in 2024[5]. - The company reported a total profit of HKD 161,128 for the year, compared to HKD 101,053 in the previous year, marking an increase of around 59.5%[18]. - The company's profit for the fiscal year ending December 31, 2025, was HKD 161.1 million, an increase of HKD 60.0 million or 59.4% compared to HKD 101.1 million in 2024, with a net profit margin of 2.4%[77]. Dividends - The board proposed a final dividend of HKD 0.14 per share for the fiscal year ending December 31, 2025, up from HKD 0.10 per share in 2024[3]. - The interim dividend for 2025 is proposed at HKD 0.03 per share, compared to HKD 0.02 per share in 2024, marking a 50% increase[24]. - The total amount for the proposed final dividend for 2025 is approximately HKD 68,415,000, up from HKD 46,109,000 in 2024, which is a rise of 48.3%[24]. - Total dividends for the year amount to HKD 0.17 per share, compared to HKD 0.12 per share in 2024, reflecting a 41.7% increase[32]. Assets and Liabilities - Total assets increased to HKD 1,062,986,000 in 2025 from HKD 959,776,000 in 2024, representing an increase of approximately 10.8%[7]. - Current assets rose to HKD 666,118,000 in 2025, up from HKD 610,134,000 in 2024, reflecting a growth of about 9.2%[6]. - Total liabilities rose to HKD 1,172,688,000 in 2025 from HKD 728,941,000 in 2024, indicating an increase of approximately 60.8%[6]. - Non-current liabilities increased to HKD 28,427,000 in 2025 from HKD 5,199,000 in 2024, a significant rise of about 447.4%[7]. - The company's equity attributable to owners increased to HKD 1,061,054,000 in 2025 from HKD 959,332,000 in 2024, reflecting a growth of approximately 10.6%[7]. - Cash and cash equivalents decreased to HKD 153,960,000 in 2025 from HKD 239,455,000 in 2024, a decline of approximately 35.7%[6]. - The company's bank borrowings increased to HKD 531,268 in 2025 from HKD 306,189 in 2024, a rise of 73.5%[30]. Revenue Sources - Revenue from customer contracts for 2025 reached HKD 6,590,109, a significant increase from HKD 4,647,896 in 2024, representing a growth of approximately 41.7%[11]. - External customer revenue from the authorized distribution segment was HKD 6,489,632 for 2025, up from HKD 4,594,548 in 2024, reflecting a growth of approximately 41.3%[17]. - Revenue from Hong Kong in 2025 was HKD 3,174,355 thousand, a significant increase from HKD 2,564,489 thousand in 2024, representing a growth of 23.9%[20]. - Revenue from Singapore surged to HKD 1,450,546 thousand in 2025, compared to HKD 468,903 thousand in 2024, reflecting a remarkable increase of 209.5%[20]. - Revenue from external customers increased to HKD 6,590,109 thousand in 2025, up from HKD 4,647,896 thousand in 2024, representing a growth of approximately 41.8%[20]. Expenses - Research and development expenses for the fiscal year ending December 31, 2025, were HKD 34.24 million, compared to HKD 31.46 million in 2024[4]. - Administrative expenses for the fiscal year ending December 31, 2025, were HKD 66.1 million, down from HKD 72.99 million in 2024[4]. - Total employee costs for 2025 amounted to HKD 128,415 thousand, compared to HKD 119,877 thousand in 2024, indicating an increase of 7.1%[23]. - The allowance for credit losses on trade receivables was HKD 8,508 in 2025, up from HKD 5,763 in 2024[27]. Market and Industry Trends - The global semiconductor market is expected to grow significantly due to explosive demand for computing infrastructure driven by AI, while traditional application markets show relative weakness[38]. - The global IT spending is projected to increase by 7.9% to $5.43 trillion in 2025, with data center system spending experiencing a remarkable growth of 42.4%[37]. - The demand for AI-related products is driving a structural growth phase in the global electronics industry, with AI PC and smart hardware markets showing significant growth[37]. - The global storage chip market is expected to grow by 32.7% year-on-year in 2025, reaching USD 221.6 billion, driven by AI demand[43]. - The global optical module market is projected to grow by approximately 50% year-on-year in 2025, reaching USD 23 billion, with a shipment volume exceeding 34 million units[47]. Corporate Governance - The board of directors has committed to maintaining high standards of corporate governance, adhering to applicable corporate governance codes[99]. - The company has established a committee composed of three independent non-executive directors to oversee financial reporting and internal control systems[103]. - The company has adopted the "Standards for Directors' Securities Transactions" as its own code of conduct for directors' trading activities, with all directors confirming compliance until December 31, 2025[101].

Financial Performance - In 2025, the total revenue from continuing operations increased to approximately RMB 134.4 million from RMB 112.7 million in 2024, representing a growth of about 19.3%[2] - The gross profit for 2025 was approximately RMB 13.0 million, compared to RMB 9.0 million in 2024, indicating a year-over-year increase of 44.4%[2] - The company recorded a net profit of approximately RMB 241.3 million in 2025, a significant turnaround from a net loss of RMB 93.4 million in 2024[2] - The total comprehensive income attributable to the owners of the company for 2025 was approximately RMB 247.3 million, compared to a loss of RMB 90.3 million in 2024[2] - Basic and diluted earnings per share for 2025 were RMB 0.06, compared to a loss per share of RMB 0.02 in 2024[5] - The company reported external customer revenue of RMB 134,387,000 for the year ending December 31, 2025, an increase from RMB 112,716,000 in 2024, representing a growth of approximately 19.2%[24] - The segment profit for the apparel and elastic webbing division was RMB 12,536,000 for 2025, compared to RMB 8,656,000 in 2024, indicating a significant improvement in profitability[24] - The company incurred a pre-tax loss of RMB 14,888,000 in 2025, which is a decrease from a loss of RMB 30,807,000 in 2024, reflecting a reduction in losses by approximately 51.7%[24] - The company reported a profit from discontinued operations of approximately RMB 256,209,000 for the year 2025, compared to a loss of RMB 63,198,000 in 2024[32] - The basic and diluted earnings per share from discontinued operations for 2025 was RMB 0.07, up from RMB 0.02 in 2024[32] Assets and Liabilities - As of December 31, 2025, the total cash and bank balances were approximately RMB 6.4 million, down from RMB 8.3 million in 2024[2] - The total assets less current liabilities showed a positive net amount of RMB 51.7 million in 2025, compared to a negative RMB 202.4 million in 2024[6] - The company’s equity attributable to owners improved to RMB 16.6 million in 2025 from a deficit of RMB 230.7 million in 2024[6] - The total assets of the company as of December 31, 2025, amounted to RMB 98,497,000, down from RMB 122,122,000 in 2024, indicating a decrease of about 19.4%[21] - The company’s total liabilities as of December 31, 2025, were RMB 76,468,000, down from RMB 345,500,000 in 2024, indicating a significant reduction in liabilities[21] - The company’s total liabilities decreased significantly from RMB 219,490,000 in 2024 to RMB 45,534,000 in 2025[39] Operational Efficiency - The company’s operating loss decreased to RMB 13.6 million in 2025 from RMB 28.9 million in 2024, reflecting improved operational efficiency[4] - The company’s financing costs decreased to RMB 1,284,000 in 2025 from RMB 1,937,000 in 2024, showing a reduction of approximately 33.8%[24] - Financing costs decreased by 33.7% from approximately RMB 1.9 million in 2024 to approximately RMB 1.3 million in 2025, attributed to lower interest expenses from bank borrowings[68] Accounting Standards and Reporting - The group has adopted new and revised International Financial Reporting Standards (IFRS) accounting standards effective from January 1, 2025, with no significant impact on the consolidated financial statements[9] - The group is currently evaluating the impact of IFRS 18 on the structure of the income statement and cash flow statement, with preliminary assessments indicating significant changes in the presentation of financial performance[14] - The new accounting standards require entities to classify all income and expenses into five categories, including operating, investing, financing, discontinued operations, and income tax categories[13] - The group plans to disclose several management-defined performance metrics (MPM) in the financial statements, which may require additional disclosures in the notes to the financial statements[17] - The group has two reportable segments as of December 31, 2025, following the termination of the fabric sales segment during the reporting period[16] - The group will need to reclassify certain income and expense items to new categories, such as interest income and foreign exchange gains/losses, under the new standards[17] - The consolidated cash flow statement will be affected as operating profit will be the starting point when using the indirect method[17] - The revised IFRS standards are expected to enhance comparability and provide more relevant information to users of the financial statements[11] - The group is assessing the implications of the new standards on the classification of financial statement data, which may lead to more detailed guidance on data classification[14] Business Strategy and Market Outlook - The company plans to continue its main business of manufacturing and selling clothing and elastic bands, while also expanding its digital marketing services, which saw increased revenue in 2025[50] - The textile and garment industry experienced a decline, with a reported 8.2% decrease in revenue and a 16.1% decrease in profit among large textile enterprises in 2025[52] - The digital advertising market in China is projected to reach approximately USD 221.6 billion in 2025, growing by about 6.8%[53] - The company is exploring strategic partnerships, including potential collaborations in the garment business and digital marketing[50] - The company anticipates continued market challenges and uncertainties in 2026 while monitoring its financial performance closely[51] Shareholder Information - The company did not recommend the payment of a final dividend for the year[2] - The board did not recommend a final dividend for the year ending December 31, 2025[81] - The company aims to maintain a public float of at least 25% to comply with listing rules, which it has consistently achieved since its IPO[45] - The company’s capital management strategy focuses on optimizing debt and equity to maximize shareholder returns, with no changes to its policies expected through 2025[45] Other Financial Information - The company completed a placement of 200 million shares at a price of HKD 0.10 per share, raising approximately HKD 19.79 million (around RMB 18.38 million) after expenses[44] - The company’s inventory impairment loss was RMB 3,564,000 in 2025, a decrease from RMB 5,028,000 in 2024, reflecting improved inventory management[26] - The company’s trade receivables increased to RMB 17,715,000 in 2025 from RMB 15,770,000 in 2024, with a provision for impairment losses rising to RMB 2,700,000[34] - The company’s trade payables decreased from RMB 34,584,000 in 2024 to RMB 11,023,000 in 2025[39] - The company issued bonds amounting to RMB 8,965,000 in 2025, with an annual interest rate of 5%[42] - The company’s financing costs for discontinued operations were RMB 7,666,000 in 2025, down from RMB 17,464,000 in 2024[28] - The company’s cash outflow from discontinued operations was RMB 462,000 in 2024, with no cash outflow reported for 2025[29] - The total employee cost for the year ending December 31, 2025, was approximately RMB 30.2 million, consistent with the previous year[80] - The audit committee reviewed the audited consolidated financial statements for the year ending December 31, 2025, and confirmed compliance with relevant accounting standards[85] - The external auditor confirmed that the financial data presented is consistent with the draft financial statements for the year ending December 31, 2025[86] - The annual results and report will be available on the company's website and the stock exchange website[87]

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份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。 China Xinhua Education Group Limited 中國新華教育集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2779） 截至2025年12月31日止年度 全年業績公告 財務摘要 截至12月31日止年度 | | 2025年 | 2024年 | 變動百分比 | | --- | --- | --- | --- | | | 人民幣千元 | 人民幣千元 | % | | 收入 | 658,033 | 648,078 | 1.5% | | 毛利 | 335,923 | 392,261 | -14.4% | | 年度溢利 | 338,053 | 330,219 | 2.4% | | 經調整淨溢利(1) | 313,924 | 359,406 | -12.7% | 附註： (1) 本集團將經調整淨溢利定義為就與本集團經營業績表現無關的項目作出調整後的年度溢 利。其並非一項國際財務報告準 ...