INTERIM REPORT 2025-26 中期報告 迎風而上 堅毅前行 Steadfast in Efforts Striving Forward Far East Consortium International Limited 遠東發展有限公司 INTERIM REPORT 2025-26 中期報告 目錄 | 2 | 公司資料 | | --- | --- | | 4 | 多元化及均衡之業務組合 | | 8 | 2025/26年財政年度上半年重大事件 | | 11 | 中期業績2025/26 | | 14 | 管理層討論及分析 | | 45 | 非公認會計原則財務計量 | | 49 | 其他資料 | | 56 | 簡明綜合財務報表之審閱報告 | | 57 | 簡明綜合損益表 | | 58 | 簡明綜合損益及其他全面收益表 | | 59 | 簡明綜合財務狀況表 | | 61 | 簡明綜合權益變動表 | | 63 | 簡明綜合現金流量表 | 66 簡明綜合財務報表附註 2 遠東發展有限公司 公司資料 董事會 執行董事 邱達昌，丹斯里拿督，B.Sc. （主席兼行政總裁） 孔祥達，B.ENG., ACA 邱達成 ...

中期報告 中期報告 2025/26 目錄 | 公司資料 | 2 | | --- | --- | | 管理層討論及分析 | 4 | | 其他資料 | 33 | | 中期簡明綜合財務報表審閱報告 | 45 | | 中期簡明綜合損益表 | 47 | | 中期簡明綜合全面收益表 | 48 | | 中期簡明綜合財務狀況表 | 50 | | 中期簡明綜合權益變動表 | 52 | | 中期簡明綜合現金流量表 | 54 | | 中期簡明綜合財務資料附註 | 56 | 頁次 董事會 執行董事 劉建國先生 （董事長兼總裁） 伊藤康樹先生 左軍先生 劉宏立先生 非執行董事 楊小平先生 謝吉人先生 獨立非執行董事 盧伯卿先生 汪建國先生 徐輝先生 田青女士 審核委員會 盧伯卿先生 （主席） 汪建國先生 徐輝先生 薪酬委員會 汪建國先生 （主席） 徐輝先生 左軍先生 提名委員會 劉建國先生 （主席） 汪建國先生 盧伯卿先生 田青女士(1) 公司秘書 岑影文女士 附註： (1) 自二零二五年六月二十六日起獲委任為本公司提名委員會成員 授權代表 左軍先生 岑影文女士 核數師 安永會計師事務所 執業會計師 註冊公眾利益實體核數師 公司網站 ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HK$34,481,081, a decrease of 1.8% from HK$35,105,202 in the same period of 2024[16] - Gross profit for the same period was HK$5,505,527, down 6% from HK$5,855,695 year-on-year[16] - Profit for the period was HK$1,768,085, representing a decline of 21.9% compared to HK$2,263,915 in the previous year[16] - Total comprehensive income for the period was HK$2,766,547, down 28.7% from HK$3,879,660 in the prior year[16] - Other income decreased to HK$401,381 from HK$646,889, reflecting a decline of 38%[16] - Profit for the period attributable to owners of the Company decreased to HK$1,334,217, a decline of 24.2% compared to HK$1,760,747 in the same period last year[17] - Total comprehensive income attributable to owners of the Company was HK$2,162,953, down 32.2% from HK$3,194,275 year-over-year[17] - Basic and diluted earnings per share decreased to HK$24.73, down 24.2% from HK$32.71 in the previous year[17] Cash Flow and Liquidity - For the six months ended September 30, 2025, net cash from operating activities was HK$3,127,333, a decrease of 15.1% compared to HK$3,683,318 for the same period in 2024[23] - Net cash used in investing activities improved to HK$522,370 from HK$1,461,225, indicating a reduction of 64.3%[23] - The net cash from financing activities was HK$1,036,961, a significant recovery from a net cash used of HK$1,707,196 in the previous year[23] - The total cash and cash equivalents at September 30, 2025, increased to HK$12,707,137, up 38.5% from HK$9,188,743 at the same date in 2024[23] - Current liabilities decreased slightly to HK$46,559,151 from HK$46,902,284, indicating improved liquidity management[20] - The company reported a net current assets position of HK$1,646,508, a significant improvement from a net liability of HK$2,354,784[20] Assets and Liabilities - Non-current assets increased to HK$104,031,353, up from HK$103,673,070 as of March 31, 2025[19] - Total equity increased to HK$63,421,331, up from HK$60,726,705, reflecting a growth of 4.5%[20] - The Group's total liabilities increased to HK$16,106,015,000 as of September 30, 2025, from HK$16,746,886,000[76] - The Group's total trade and other receivables amounted to HK$16,384,764,000 as of September 30, 2025, an increase from HK$15,562,499,000 as of March 31, 2025[68] - Trade receivables from contracts with customers were HK$6,850,639,000, with a net amount of HK$5,814,442,000 after deducting an allowance for credit losses of HK$1,036,197,000[68] Revenue Breakdown - Revenue from the sale of natural gas reached HK$20,381,866, an increase of 3.8% from HK$19,641,836 in 2024[33] - Engineering design, construction, and installation revenue was HK$3,161,112, a decrease of 5.2% from HK$3,335,525 in the previous year[33] - Sales of liquefied petroleum gas (LPG) decreased to HK$8,382,600, down 12.3% from HK$9,557,976 in 2024[33] - Total revenue for the six months ended September 30, 2025, was HK$34,481,081, a decline of 1.8% compared to HK$35,105,202 in 2024[33] Operational Highlights - The Group reorganized its internal reporting structure, combining the gas connection segment with the engineering design and construction segment for better resource allocation[39] - The Group connected 676,347 new residential users during the period, a decrease of 25.2% year-on-year, while cumulative connections reached 49,128,135, up by 2.4%[116] - The Group has cumulatively built 564,972 km of gas pipelines as of September 30, 2025[115] - The Group secured 662 piped gas projects across 30 provinces, with no new city piped gas projects added during the period[114] Strategic Initiatives - The Group is focused on improving the natural gas pricing mechanism to alleviate cost pressures in the gas industry[100] - The Group is advancing organizational reforms and integrating AI into business scenarios to enhance operational efficiency[108] - The Group aims to enhance its value-added services by adapting operations strategies to align with consumption trends, thereby increasing market share[194] - The Group plans to explore new business areas such as user-side energy storage and biomass, contributing to performance growth[191] Market and Economic Context - China's GDP grew by 5.2% year-on-year in the first three quarters, indicating a stable economic recovery[100] - China's apparent natural gas consumption decreased by 0.2% year-on-year to 317.75 billion m³ from January to September 2025[103] - The Chinese government is expected to implement more robust economic stimulus policies to stabilize the economy, which will benefit the Group's operations[190] Dividend and Shareholder Returns - The proposed interim dividend was set at HK15.0 cents per share[107] - The Group declared an interim dividend of HK15.0 cents per share for the six months ended 30 September 2025, consistent with the previous year[200]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 19,610,000, an increase of 4.96% compared to HKD 18,680,000 for the same period in 2024[6] - Gross profit decreased to HKD 1,847,000, down 7.33% from HKD 1,993,000 year-over-year[6] - The company reported a net loss of HKD 10,839,000 for the six months ended September 30, 2025, an improvement from a loss of HKD 17,624,000 in the previous year[6] - The total loss for the period was HKD 17,387,000, compared to a loss of HKD 3,885,000 in the previous year, indicating a significant increase in losses[12] - The company reported a pre-tax loss of HKD 10,889,000, compared to a pre-tax loss of HKD 17,607,000 in the previous year, showing an improvement in loss management[18] - The company reported a loss of HKD 10,363,000 for the six months ended September 30, 2025, compared to a loss of HKD 17,387,000 in 2024, indicating a reduction in losses by 40.3%[28] Cash Flow and Assets - Operating cash flow for the six months was HKD 2,397,000, a significant recovery from a cash outflow of HKD 11,538,000 in the same period last year[11] - Total current assets increased to HKD 169,308,000 from HKD 114,620,000, reflecting a growth of 47.7%[8] - The company’s cash and bank balances at September 30, 2025, were HKD 63,021,000, a substantial increase from HKD 2,409,000 at the same time last year[11] - The total assets as of September 30, 2025, amounted to HKD 201,466,000, up from HKD 147,348,000 as of March 31, 2025, reflecting a growth of approximately 36.69%[20] - The total liabilities increased to HKD 211,969,000 from HKD 147,253,000, marking an increase of approximately 43.93%[20] Equity and Share Performance - The basic and diluted loss per share for the period was HKD 2.11, compared to HKD 3.59 in the previous year[7] - The total equity attributable to owners decreased to HKD 51,419,000 from HKD 59,753,000, indicating a decline of approximately 13.93%[12] - The company has issued 100,000,000 shares as of September 30, 2025, with paid-up capital amounting to HKD 49,164,000[42] - The company has a total of 1,339,138,191 shares issued[98] Segment Performance - The segment revenue from medical device distribution and services was HKD 15,551,000, compared to HKD 13,209,000 in the previous year, showing an increase of about 17.67%[18] - The segment performance for hospital management services reported a loss of HKD 3,264,000, slightly higher than the loss of HKD 3,218,000 in the previous year[18] Operational Developments - The company plans to launch new cardiovascular products, including pacemakers, by the second half of the fiscal year ending March 31, 2026[52] - The company has strategically adjusted its product portfolio to focus on higher-margin products and expand into new surgical fields, including tumor-related surgeries[52] - The company aims to leverage its existing strengths in cardiovascular product distribution while diversifying into new surgical areas[52] Legal and Compliance Matters - The company has a disputed dividend payable of USD 4,000,000 (approximately HKD 31,120,000) related to redeemable convertible cumulative preference shares[34] - The court ruled against Capital Foresight's claim for the USD 4,000,000 loan note, citing a lack of agreed maturity date as a defect[40] - The company is currently involved in ongoing litigation regarding the loan note, with an appeal hearing scheduled for August 27, 2024[41] Financing and Capital Raising - The company completed a rights issue on October 6, 2025, raising approximately HKD 80,900,000, intended for settling payables and general working capital[46] - The total amount raised from the rights issue and subscription was approximately HKD 84.7 million, with a net amount of approximately HKD 80.9 million[85] - The group plans to negotiate with banks for the renewal of existing loans by the end of Q1 2026[71] Employee and Governance - The total employee cost for the group was approximately HKD 8.2 million, compared to HKD 6.8 million in the previous period[90] - The group employed 127 employees as of September 30, 2025, down from 148 employees as of March 31, 2025[90] - The company has complied with the corporate governance code throughout the period, except for certain disclosures[105] Stock Options and Incentives - The company has granted stock options to 14 business consultants, including former directors and employees, to support business development and financial operations[101] - The stock options are expected to enhance employee retention and motivation, contributing to overall company performance[101]

Financial Performance - The company's revenue increased by approximately HKD 14.7 million or 22.9% to about HKD 78.7 million compared to HKD 64.0 million in the same period of 2024[8]. - Gross profit decreased by approximately HKD 1.1 million to about HKD 3.9 million, with a gross margin decline of 2.9 percentage points to about 5.0% from 7.9% in the same period of 2024[9]. - The company recorded a net loss of approximately HKD 16.3 million, compared to a net loss of about HKD 5.1 million in the same period of 2024[14]. - The company reported an operating loss of HKD 16.26 million for the period, compared to a loss of HKD 4.89 million in the previous year, indicating a worsening operational performance[30]. - The net loss before tax was HKD 16.27 million, compared to a loss of HKD 4.90 million in 2024, highlighting a significant increase in losses[30]. - The company reported a loss attributable to shareholders of HKD 16,271,000 for the six months ended September 30, 2025, compared to a loss of HKD 5,077,000 in the same period of 2024, resulting in a basic loss per share of HKD 4.07[47]. Expenses and Costs - Administrative and operating expenses increased significantly by approximately HKD 6.5 million, primarily due to bonuses for departing directors and rising employee costs[11]. - The total employee compensation cost for the period was approximately HKD 23.1 million, up from HKD 15.4 million in the same period last year, marking a rise of 50.3%[28]. - Administrative and other operating expenses increased significantly to HKD 17.24 million from HKD 10.75 million, representing a rise of 60.6%[30]. - Employee costs increased to HKD 11,451,000 from HKD 9,962,000, reflecting a rise in operational expenses[44]. Cash Flow and Liquidity - The company had a total bank balance of approximately HKD 69.8 million as of September 30, 2025, down from HKD 85.2 million as of March 31, 2025[16]. - Cash and cash equivalents decreased by HKD 15,425,000, ending at HKD 69,817,000 as of September 30, 2025, down from HKD 82,173,000 a year earlier[33]. - Operating cash flow for the six months ended September 30, 2025, was negative at HKD (6,809,000), compared to HKD (5,670,000) in the previous year[33]. - The company incurred a net cash outflow from investing activities of HKD (8,379,000) for the six months ended September 30, 2025[33]. Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 1,808,881,203, a decrease from HKD 1,841,212,000 as of March 31, 2025[31]. - The company’s total liabilities amounted to HKD 685,132,626 as of September 30, 2025[31]. - The company’s total equity as of September 30, 2025, was HKD 123,749,000, down from HKD 140,020,000 as of March 31, 2025[32]. - The company’s retained earnings decreased to HKD 26,926,000 as of September 30, 2025, from HKD 43,197,000 as of March 31, 2025[32]. Investments and Capital Expenditures - The company invested approximately HKD 4.2 million in capital expenditures for the purchase of property, plant, and equipment, funded by internal resources[21]. - Total investment in property, plant, and equipment during the period was approximately HKD 4,172,000, down from HKD 6,782,000 in the previous year[49]. Corporate Governance - The company has adhered to all applicable corporate governance codes as outlined in the listing rules, ensuring accountability and protection of shareholder interests[74]. - The company has a commitment to maintaining good corporate governance practices to safeguard shareholder rights[74]. - The audit committee, established on September 3, 2016, reviewed the unaudited interim results and confirmed compliance with applicable accounting standards and regulations[80]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and risk management[80]. Shareholding Structure - As of September 30, 2025, the company has 204,000,000 shares held by Meicheng Holdings Limited, representing 51.0% of the total issued share capital[66]. - The shareholding structure indicates that Mr. Huang Renxiong owns 40%, Mr. Huang Yibang owns 30%, and Mr. Li Guohui owns 30% of Meicheng Holdings Limited[70]. - On October 23, 2025, Mr. Huang Renxiong agreed to purchase Mr. Li Guohui's 30% stake in Meicheng for HKD 12,000,000, resulting in a new ownership structure of 70% and 30% for Mr. Huang Renxiong and Mr. Huang Yibang respectively[71]. Market and Competition - The company is actively participating in project tenders to overcome intense competition and a sluggish real estate market[7]. - The management plans to adjust pricing strategies and implement strict cost control measures to enhance operational efficiency[7].

Zhonghua Gas Holdings Limited 中華燃 氣 控 股 有 限 公 司 08246.HK (於開曼群島註冊成立之有限公司) 2025-2026 中期報告 Zhonghua Gas Holdings Limited 中華燃 氣 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) 08246.HK 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大的市場波 動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示概不會對本報告的全部或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何 責任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而提供有關中華燃氣控股有限公司（「本 公司」）的資料。本公司之董事（「董事」）願共同及個別就本報告負全責，並在作出一切合理查詢後確認， 就彼等所深知及確信，本報告所載資料在各重大方面均屬準確完備，且 ...

Financial Performance - Total revenue for the period ending June 30, 2025, was approximately RMB 132.8 million, representing a 17.1% increase from RMB 113.4 million for the year ending December 31, 2023[10]. - The company reported a significant increase in loss attributable to equity shareholders, amounting to approximately RMB 554.1 million, compared to RMB 155.5 million for the year ending December 31, 2023, reflecting a 256.4% increase[10]. - The basic and diluted loss per share was RMB 1.79, up 244.2% from RMB 0.52 for the year ending December 31, 2023[10]. - The company's gross loss for the reporting period was approximately RMB 394.2 million, an increase of about 482.5% compared to the gross loss of approximately RMB 67.7 million for the year ended December 31, 2023[31]. - The gross loss margin for the reporting period was approximately 296.8%, up from approximately 59.7% for the year ended December 31, 2023, primarily due to increased gross losses from self-produced TV drama distribution and broadcasting rights[32]. - The group recorded a net loss of RMB 554,066,000 for the period from January 1, 2024, to June 30, 2025, compared to a net loss of RMB 155,458,000 for the year ended December 31, 2023[158]. Revenue Sources - The company generated revenue primarily from the licensing of broadcasting rights for a total of 8 television dramas during the reporting period, down from 19 dramas in the previous year[12]. - Revenue from self-produced drama licensing increased by approximately 75.8% from RMB 69.1 million to RMB 121.5 million during the reporting period[19]. - Revenue from purchased drama licensing decreased by approximately 85.2% from RMB 36.1 million to RMB 5.4 million due to challenging market conditions[22]. - Revenue from joint financing arrangements decreased by approximately 28.0% from RMB 8.2 million to RMB 5.9 million[24]. - The company successfully licensed the broadcasting rights of the self-produced drama "Little Couples" to a major online streaming platform, contributing significantly to revenue[19]. Cost and Expenses - Sales costs surged by approximately 191.0% from RMB 181.1 million to RMB 527.0 million, primarily due to increased costs in self-produced dramas and joint financing arrangements[25]. - The cost of self-produced drama licensing increased by approximately 136.3% from RMB 120.8 million to RMB 285.4 million due to the airing of several dramas[26]. - Sales and marketing expenses increased by approximately 67.0% to about RMB 4.0 million for the reporting period, up from approximately RMB 2.4 million for the year ended December 31, 2023, primarily due to increased promotional expenses[35]. - Administrative expenses rose by approximately 57.4% to about RMB 35.9 million for the reporting period, compared to approximately RMB 22.8 million for the year ended December 31, 2023, mainly due to increased employee costs[38]. - Financing costs increased by approximately 143.2% to about RMB 45.4 million for the reporting period, up from approximately RMB 18.7 million for the year ended December 31, 2023, primarily due to increased interest expenses on bank and other loans[40]. Impairment and Losses - Impairment losses on completed dramas amounted to RMB 61.4 million, while script rights impairment totaled RMB 179.5 million, leading to a total impairment provision of RMB 295.8 million[28]. - The company recorded impairment losses on trade and other receivables of approximately RMB 69.3 million during the reporting period, compared to RMB 31.9 million for the year ended December 31, 2023[39]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and has adopted relevant regulations as per listing rules[89]. - The board consists of eight directors, including five executive directors and three independent non-executive directors[98]. - The board has established three committees: audit committee, remuneration committee, and nomination committee to oversee specific matters[96]. - The company emphasizes a strong corporate culture aligned with its vision and strategy, focusing on integrity and ethical conduct[91]. - The company has been compliant with all applicable codes of corporate governance during the reporting period[90]. Future Plans and Strategies - The company aims to continue producing self-made television dramas and accelerate the licensing of broadcasting rights through traditional TV channels and online streaming platforms[13]. - The company plans to collaborate closely with third-party copyright holders to acquire more diverse television drama rights to cater to varying customer preferences[13]. - The company emphasizes the importance of adapting traditional television dramas to fit into the digital ecosystem for future success[13]. - The company has no significant future plans for major investments or capital assets as of June 30, 2025[63]. Shareholder and Financial Management - The company successfully placed 60,000,000 shares at a net placement price of approximately HKD 0.096 per share, raising a total net amount of HKD 5.78 million[66]. - The net proceeds from the placement are intended for general working capital of the group[66]. - The auditor expressed a disclaimer of opinion due to significant uncertainties regarding the group's ability to continue as a going concern[68]. - Management believes that the uncertainties mentioned can be resolved through remedial measures outlined in the annual report, asserting the group's ability to continue operations[69]. Employee and Workforce - The company has 45 employees as of June 30, 2025, compared to 44 employees as of December 31, 2023[58]. - The company aims for gender equality in its workforce, with female and male employees comprising approximately 62.22% and 37.78% of the total workforce, respectively, as of June 30, 2025[131]. - The company emphasizes competitive and fair compensation for employees, continuously improving salary and reward policies to retain talent[178]. Risk Management - The board has established risk management procedures to address significant risks related to the group's business, with annual reviews of major changes in the business environment[140]. - The internal audit function evaluates the effectiveness of financial, operational, and compliance controls, reporting annually to the board, with no significant deficiencies found during the review period[143]. - The board has confirmed the effectiveness of the risk management and internal control systems, with no known significant deficiencies or violations of policies[144].

Sheung Wan, Hong Kong 杭品生活科技股份有限公司 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED (Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司) 股份代號 Stock Code :1682 2025/26 Interim Report 中期報告 香港上環 干諾道中168-200號 信德中心西座 33樓3309室 Unit 3309, 33/F., West Tower, Shun Tak Centre, No.168-200 Connaught Road Central www.hk01682.com 目錄 2 公司資料 3 管理層討論與分析 15 其他披露 20 簡明綜合損益及其他全面收益表 21 簡明綜合財務狀況表 22 簡明綜合權益變動表 23 簡明綜合現金流量表 24 簡明綜合財務報表附註 33 詞彙 公司資料 董事會 執行董事 林繼陽先生 （總裁） 吳凱先生 （副總裁） 張凱原先生 獨立非執行董事 陳健先生 周致人先生 黃冰芬女士 審核委員會 周致人先生 （主席） ...

Fund Allocation - The company plans to allocate approximately 45% of the net proceeds from the issuance of convertible bonds for the purchase of production facilities, equipment, and raw materials for pharmaceutical products [2]. - About 30% of the net proceeds will be used to enrich the pharmaceutical product base, including the development of new drugs and/or obtaining drug licenses [2]. - Approximately 25% of the net proceeds will be allocated to increase sales points and additional sales personnel costs [2].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CEC INTERNATIONAL HOLDINGS LIMITED CEC 國際控股有限公司 * （於百慕達註冊成立之有限公司） （股份代號： 759） 截至2025年10月31日止6個月中期業績公佈 CEC International Holdings Limited（CEC國際控股有限公司）（「本公司」）之董事會 （「董事會」）謹此公佈，本公司及其附屬公司（統稱「本集團」）截至2025年10月31日 止6個月之未經審核綜合業績如下： 簡明綜合收益表 | | | 截至10月31日止6個月 | | | --- | --- | --- | --- | | | | 2025年 | 2024年 | | | 附註 | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收益 | 2 | 710,391 | 702,392 | | 銷售成本 | | (429,648) | (426,783 ...