於百慕達註冊成立之有限公司 股份代號 : 276 中期報告 2025 Incorporated in Bermuda with limited liability Mongolia Energy Corporation Limited lnterim Report 2025 2025 INTERIM REPORT 有關前瞻性陳述之 提示聲明 本報告載有若干關於蒙古能源有限公司（「蒙古能源」或「本公司」）及其附屬公司（「本集團」）營運及業務之前瞻性陳述及意見 。 該等前瞻性陳述及意見與本公司之（其中包括）目標 、目的 、策略 、意向 、計劃 、信念 、預期及估計有關 ，一般使用前瞻性 字詞，例如相信、預期、預料、估計、計劃、預測、目標、可能、將會或可能於未來發生或預期於未來發生之其他行動結 果 。 閣下不應過份依賴該等僅適用於本報告發表日期之前瞻性陳述及意見。該等前瞻性陳述及意見乃基於本集團自有的資 料，以及本集團相信為可靠之其他來源資料。 我們之實際業績可能有別於該等前瞻性陳述及意見所明示或暗示者，以致影響本公司之股份市價。 閣下亦應閱讀我們就各 項交易發出之通函、公告及報告所載的風險因素，該等風險因素乃被視 ...

（ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：8331） 2025 中期報告 年 報 2023/24 香港聯合交易所有限公司（「聯交所」）GEM 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起於聯交所 上市的其他公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的 潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 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聯交所 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報告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。 本報告的資料乃遵照聯交所的GEM 證券上市規則（「GEM 上市規則」）而刊載， 旨在提供有關倍搏集團有限公司（「本公司」，連同其附屬公司統稱「本集團」） 的資料。本公司的董事（「董事」，各為一名「董事」）願就本報告的資料共同及 個別承擔全部責任。各董事在作出一切合理查詢後，確認就其 ...

Revenue Performance - The group's revenue for the six months ending September 30, 2025, decreased compared to the same period in 2024, primarily due to a reduction in the number of new construction projects[7]. - The company's total revenue decreased from approximately HKD 26,001,000 for the six months ended September 30, 2024, to approximately HKD 17,313,000 for the six months ended September 30, 2025, a reduction of about HKD 8,688,000[28]. - For the six months ended September 30, 2025, the company reported revenue of HKD 17,313,000, a decrease of 33.4% compared to HKD 26,001,000 for the same period in 2024[60]. - The company's major customer, Customer A, contributed HKD 17,313,000 in revenue for the six months ended September 30, 2025, down from HKD 23,529,000 in the same period last year, indicating a decline of 26.5%[75]. Financial Position - As of September 30, 2025, the company's total assets amounted to HKD 98,839,000, an increase from HKD 80,202,000 as of March 31, 2025, representing a growth of approximately 23.3%[61]. - The company's total liabilities decreased to HKD 50,303,000 as of September 30, 2025, from HKD 53,147,000 as of March 31, 2025, a reduction of approximately 5.2%[61]. - The current ratio increased to approximately 2.0 times as of September 30, 2025, from approximately 1.5 times as of March 31, 2025[35]. - The total interest-bearing debt remained stable at approximately HKD 12,000,000 as of both March 31, 2025, and September 30, 2025[35]. - The capital debt ratio was approximately 24.7% as of September 30, 2025, down from 44.1% as of March 31, 2025[36]. Profitability - The company reported a profit of approximately HKD 21,439,000 for the six months ended September 30, 2025, compared to a loss of approximately HKD 4,698,000 for the six months ended September 30, 2024[34]. - The company recorded a pre-tax profit of HKD 21,439,000, compared to a pre-tax loss of HKD 4,698,000 in the prior year[60]. - Basic earnings per share for the period were HKD 7.1, compared to a loss per share of HKD 1.56 in the same period last year[60]. - Gross profit decreased from approximately HKD 2,842,000 for the six months ended September 30, 2024, to approximately HKD 646,000 for the six months ended September 30, 2025[29]. - Operating profit for the period was HKD 21,799,000, a significant improvement from an operating loss of HKD 4,338,000 in the previous year[60]. Investment Strategy - The group aims to diversify its revenue sources and enhance its market position through active exploration of new business opportunities[8]. - The group is committed to maintaining a diversified investment portfolio and closely monitoring market trends to adjust its investment strategies accordingly[11]. - The investment strategy includes maintaining an appropriate investment scale and optimizing the investment portfolio to achieve diversification[13]. - The company prohibits short-term investments in low-yield unsecured bonds and speculative investment transactions[15]. - The investment management team is responsible for continuous monitoring of investments and preparing semi-annual performance reports[19]. Risk Management - The company identified significant risks, including reliance on a small number of clients, with the top five clients contributing approximately 100% of total revenue for the six months ended September 30, 2025[46]. - The company emphasizes a comprehensive internal control and risk management process, including regular performance reviews and strict approval processes[19]. - The investment decision-making process involves multiple governance layers, with investments below 5% of market capitalization approved by the investment management team[20]. Employee and Administrative Expenses - The total employee costs for the six months ended September 30, 2025, were approximately HKD 1,468,000, down from HKD 2,656,000 for the same period in 2024[44]. - Employee benefits expenses, including directors' remuneration, decreased to HKD 1,468,000 for the six months ended September 30, 2025, down from HKD 2,656,000 in 2024, representing a reduction of approximately 44.5%[81]. - Administrative expenses decreased from approximately HKD 3,836,000 for the six months ended September 30, 2024, to approximately HKD 2,530,000 for the six months ended September 30, 2025[31]. Dividends and Shareholder Returns - The board recommended not to declare an interim dividend for the six months ended September 30, 2025, and September 30, 2024[45]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, and for the same period in 2024[81]. - The company aims to enhance shareholder value by effectively allocating idle funds and surplus capital to generate financial returns[24]. Other Financial Metrics - The company's net cash and cash equivalents increased to HKD 2,417,000 from HKD 2,113,000, reflecting a rise of 14.4%[64]. - The fair value changes of financial assets recognized in profit or loss resulted in a gain of HKD 23,671,000 for the six months ended September 30, 2025, compared to a loss of HKD 3,325,000 in the prior year[76]. - The company's equity attributable to owners increased to HKD 48,657,000 as of September 30, 2025, from HKD 27,218,000 as of March 31, 2025, marking an increase of 78.8%[62]. - The company's depreciation expense for the six months ended September 30, 2025, was HKD 40,000, slightly down from HKD 42,000 in the previous year[79]. - Trade receivables amounted to HKD 37,218,000 as of September 30, 2025, a decrease from HKD 41,207,000 as of March 31, 2025, reflecting a decline of approximately 9.6%[85]. - Trade payables were reported at HKD 8,298,000 as of September 30, 2025, down from HKD 11,716,000 as of March 31, 2025, indicating a decrease of about 29.5%[86]. - Contract assets stood at HKD 12,712,000 as of September 30, 2025, compared to HKD 13,558,000 as of March 31, 2025, showing a decline of approximately 6.2%[84]. - The company expects to recover HKD 9,081,000 of contract assets within one year, an increase from HKD 7,987,000 as of March 31, 2025[84]. - The weighted average number of ordinary shares used for calculating basic earnings per share remained constant at 301,860,000 shares for both periods[82]. - The company did not acquire or dispose of any property, plant, and equipment during the six months ended September 30, 2025[83]. - The company has not issued any potential dilutive ordinary shares due to the exercise price of options being higher than the average market price of shares during the year[82]. Corporate Governance - The company has complied with all applicable corporate governance codes as per GEM Listing Rules during the reporting period[52]. - No significant events requiring disclosure occurred after September 30, 2025, up to the report date[58]. - The company has granted a total of 19,842,480 share options under its share option scheme as of September 30, 2025[55]. - The exercise price for the share options granted ranges from HKD 0.16 to HKD 0.315 per share[56].

2025/26 Interim Report 中期報告 Unity Group Holdings International Limited 知行集團控股國際有限公司 (incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立的有限公司 ( ) Stock Code 股份代號 : 1539 知行集團控股國際有限公司 Unity Group Holdings International Limited 15th Floor Chinachem Century Tower 178 Gloucester Road Wan Chai Hong Kong 香港灣仔告士打道178號 華懋世紀廣場15樓 Unity Group Holdings International Limited 知行集團控股國際有限公司 Interim Report 2025/26 中期報告 目錄 2 公司資料 4 財務摘要 6 管理層討論及分析 19 企業管治 26 未經審核簡明綜合全面收益表 28 未經審核簡明綜合財務狀況表 30 未經審核簡明綜合權益變動表 31 ...

Enrollment and Academic Programs - As of August 2025, the total number of full-time students in the group is approximately 282,000, representing a year-on-year growth of about 5%, with higher education students increasing by approximately 9% to 243,000[32]. - The group has established 396 applied undergraduate programs, optimizing the proportion of engineering programs to meet the demands of emerging industries and regional economies[33]. - The gross enrollment rate for higher education reached 60.8% in 2024, with 13.35 million students registered for the national college entrance examination in 2025, indicating a growing demand for higher education[29]. - The group has 199 ordinary diploma courses, 17 master's programs, 163 continuing education courses, 181 vocational education courses, and 396 ordinary undergraduate courses available for the 2024/25 academic year[45]. Financial Performance - The group's revenue for the year ended August 31, 2025, reached RMB 7,363 million, an increase of 11.9% compared to RMB 6,579 million for the year ended August 31, 2024[57]. - Domestic market revenue increased from RMB 6,335 million for the year ended August 31, 2024, to RMB 7,083 million for the year ended August 31, 2025, representing an increase of 11.8% driven by growth in customer numbers and average selling prices[58]. - International market revenue for the year ended August 31, 2025, was RMB 280 million, up 14.8% from RMB 244 million for the year ended August 31, 2024, primarily due to an increase in customer numbers[59]. - The group achieved an EBITDA of RMB 2,395 million for the year ended August 31, 2025, compared to RMB 1,841 million for the year ended August 31, 2024[55]. - Adjusted EBITDA for the year ended August 31, 2025, was RMB 4,169 million, up from RMB 3,774 million for the year ended August 31, 2024[55]. - The group recorded a gross profit of RMB 3,926 million for the year ended August 31, 2025, an increase of 7.7% compared to RMB 3,644 million for the year ended August 31, 2024[61]. - Net profit for the group for the year ending August 31, 2025, was RMB 506 million, compared to RMB 502 million for the year ending August 31, 2024[75]. Operational Developments - The group has increased its presence in key regions such as the Guangdong-Hong Kong-Macao Greater Bay Area and the Chengdu-Chongqing Economic Circle, with ongoing progress in new campus construction and the establishment of smart classrooms and laboratories[35]. - The group has launched a comprehensive digital transformation strategy in education, focusing on AI-enabled education, enhancing the digital literacy of all staff, and promoting the development of smart courses[37]. - The group has established 24 new industry colleges, bringing the total to 85, enhancing the relevance and practicality of professional training, and increasing the number of industry partners to 4,809[38]. - The group has added 5 national-level research projects, bringing the total to 37, further enhancing its technological innovation capabilities[33]. Environmental and Social Responsibility - The group has received the "2024 Excellent ESG Practicing Listed Company" award, highlighting its contributions to social responsibility and sustainable development[40]. - The group emphasizes its commitment to providing affordable and quality education, aligning with the United Nations Sustainable Development Goals, particularly in poverty alleviation and quality education[106]. - The group has established an ESG working group to monitor and report on ESG performance, ensuring compliance with relevant standards and regulations[101]. - The total greenhouse gas emissions for the year ending August 31, 2025, increased to 10,377 tons from 8,952 tons in the previous year, representing a growth of approximately 16%[117]. - The group has been recognized as a "Green Low-Carbon Public Institution" by the National Administration for the Management of Government Affairs and the National Development and Reform Commission in 2024[133]. Employee and Workforce Management - The total number of employees as of August 31, 2025, is 19,570, representing a 5% increase from 18,677 in 2024, primarily due to organic growth in existing schools and new districts[149]. - The largest employee group consists of teachers and teaching assistants, accounting for nearly 81% of the total workforce, with 15,166 teachers in 2025, up from 14,383 in 2024[150]. - The employee turnover rate for the reporting period is 6.9%, with a total of 1,452 employees leaving the company, down from 1,587 in the previous year[153]. - The company has implemented performance management and reward systems to link teaching quality and staff compensation, ensuring annual assessments for all staff[143]. - A total of 15,133 employees received training, representing 77.3% of active employees, an increase from 12,598 (67.5%) in the previous year[174]. Safety and Health Management - The group has established an ISO-9001 quality management system, valid until July 2026, to ensure quality standards[158]. - The group actively promotes safety education and health awareness through various platforms, conducting annual or biennial health check-ups for all staff[162]. - The group organized a fire safety emergency evacuation drill involving approximately 1,600 participants, including 1,000 new students and 600 staff members[163]. - The group has a dedicated safety management team to oversee the implementation of safety regulations and conduct regular safety inspections[157]. Procurement and Supplier Management - The group has established a comprehensive supplier hiring system, emphasizing efficiency and quality in procurement processes[187]. - All suppliers are required to submit environmental and social responsibility declarations, ensuring compliance with labor laws and environmental standards[188]. - The group has implemented a centralized procurement management model for large-scale demand items, effectively reducing procurement costs[183]. - The total number of suppliers decreased from 2,115 in 2024 to 2,056 in 2025, with a notable increase in non-local suppliers from 100 to 197[185].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 225 截至二零二五年九月三十日止年度之全年業績公告 博富臨置業有限公司（「本公司」）董事會（分別為「董事」及「董事會」）欣然宣佈本公司及其 附屬公司截至二零二五年九月三十日止年度之經審核綜合財務業績。本公告載列本公司 二零二四╱二零二五年度報告全文（「二零二四╱二零二五年度報告」），並符合聯交所證 券上市規則（「上市規則」）有關全年業績初步公告附載資料的相關規定。載有上市規則規 定資料的二零二四╱二零二五年度報告的印刷版本將會按上市規則規定的方式寄發予本 公司的股東，並可於二零二五年十二月二十三日或之前於聯交所網站www.hkexnews.hk 及本公司網站www.pokfulam.com.hk閱覽。 承董事會命 博富臨置業有限公司 主席、董事總經理兼執行董事 黃達漳 香港，二零二五年十二月十七日 於本公告日期，董事會成員包括執行董事黃達漳先生（主席兼董事總經理）、黃達琪先 生、黃達琛先 ...

Stock Code 股份代號: 2199 INTERIM REPORT 2025/26中期報告 CONTENTS 目錄 | Corporate Information | 2 | 公司資料 | | --- | --- | --- | | Financial Highlights | 5 | 財務概要 | | Management Discussion and Analysis | 6 | 管理層討論及分析 | | Report on Review of Interim Financial Information | 27 | 中期財務資料的審閱報告 | | Interim Condensed Consolidated Income Statement | 29 | 中期簡明綜合收益表 | | Interim Condensed Consolidated Statement of Comprehensive Income | 30 | 中期簡明綜合全面收益表 | | Interim Condensed Consolidated Balance Sheet | 31 | 中期簡明綜合資產負債表 | | Inte ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 315,375,000, representing a 43.2% increase from HKD 220,276,000 in the same period of 2024[10] - Gross profit for the same period was HKD 24,090,000, up from HKD 21,531,000, indicating a gross margin improvement[10] - The net loss for the six months was HKD 14,536,000, compared to a net loss of HKD 18,222,000 in the prior year, reflecting a 20.5% reduction in losses[10] - The company reported a basic loss per share of HKD 2.33, an improvement from HKD 2.92 in the previous year[10] - The company incurred a pre-tax loss of HKD 16,061,000, compared to a loss in the previous year, reflecting ongoing challenges in the market[25] - The company reported a net loss of HKD 19,268,000 for the six months ended September 30, 2025, compared to a net loss of HKD 18,222,000 for the same period in 2024[28][33] - The company recorded a loss of approximately HKD 14,500,000 in fiscal year 2025, compared to a loss of approximately HKD 18,200,000 in fiscal year 2024[61] Revenue Breakdown - The distribution business generated revenue of HKD 219,425,000, up 106% from HKD 106,072,000 year-over-year[19] - The system integration solutions business reported revenue of HKD 95,950,000, a decrease of 16% from HKD 114,204,000 in the previous year[19] - The geographical revenue breakdown shows that Hong Kong contributed HKD 307,749,000, a 42% increase from HKD 217,405,000 in the previous year[20] - The company recognized revenue of HKD 304,800,000 at a point in time, which is a 63% increase from HKD 186,997,000 in the previous year[22] - Total revenue increased by approximately HKD 95.1 million or 43.2% from approximately HKD 220.3 million in the fiscal period ending September 30, 2024, to approximately HKD 315.4 million in the fiscal period ending September 30, 2025[46] - Revenue from the distribution business for the fiscal period ending September 30, 2025, was approximately HKD 219.4 million, an increase of approximately HKD 113.3 million or 106.8% compared to approximately HKD 106.1 million in the previous fiscal period[46] - Revenue from the system integration solutions business for the fiscal period ending September 30, 2025, was approximately HKD 96 million, an increase of approximately HKD 18.2 million or 15.9% compared to approximately HKD 114.2 million in the previous fiscal period[46] Asset Management - Total assets as of September 30, 2025, were HKD 418,714,000, down from HKD 454,671,000 as of March 31, 2025[11] - Non-current assets decreased to HKD 16,417,000 from HKD 24,688,000, indicating a potential need for asset revaluation[11] - Trade receivables totaled HKD 270,931,000 as of September 30, 2025, an increase from HKD 227,204,000 as of March 31, 2025[37] - The company reported a total of HKD 385,238,000 in trade and other receivables as of September 30, 2025, slightly down from HKD 386,415,000 as of March 31, 2025[37] Cash Flow and Liquidity - The company’s cash and cash equivalents increased to HKD 16,099,000 from HKD 10,459,000, suggesting better cash flow management[11] - Cash flow from operating activities before changes in working capital was negative HKD 6,260,000, an improvement from negative HKD 8,206,000 in the prior year[14] - The net cash generated from investing activities was HKD 38,768,000, significantly higher than HKD 4,286,000 in the same period last year[14] - The company reported a net increase in cash and cash equivalents of HKD 5,634,000, compared to a decrease of HKD 396,000 in the previous year[14] - The cash and cash equivalents at the end of the period stood at HKD 16,099,000, up from HKD 10,457,000 at the end of the same period last year[14] - The company has sufficient liquidity to meet its current and future operational funding needs[69] Expenses and Costs - Employee costs increased to HKD 42,196,000 for the six months ended September 30, 2025, up from HKD 31,884,000 in the previous year[31] - The cost of inventory recognized as an expense was HKD 265,386,000, significantly higher than HKD 153,218,000 for the same period in 2024[31] - Sales and service costs increased by approximately HKD 92.6 million or 46.6% from approximately HKD 198.7 million in the fiscal period ending September 30, 2024, to approximately HKD 291.3 million in the fiscal period ending September 30, 2025[51] - Administrative expenses increased by approximately HKD 7,600,000 or about 49.7%, from approximately HKD 15,300,000 in fiscal year 2024 to approximately HKD 22,900,000 in fiscal year 2025[57] - Financing costs decreased by approximately HKD 900,000 or about 45.0%, from approximately HKD 2,000,000 in fiscal year 2024 to approximately HKD 1,100,000 in fiscal year 2025[58] Corporate Governance - The company has adopted the corporate governance code as per the listing rules, ensuring effective accountability within its management structure[100] - The audit committee, consisting of three independent non-executive directors, has reviewed and agreed on the accounting principles and practices adopted by the group[103] - The roles of the chairman and CEO have been separated, with Mr. Yan serving as chairman and Mr. Wang as CEO since August 15, 2025[100] - The company has confirmed compliance with the securities trading standards throughout the six months ending September 30, 2025[102] Future Outlook - The company has plans for market expansion and new product development, although specific details were not disclosed in the call[10] - The company anticipates continued demand for cloud services driven by organizations adopting online productivity and collaboration services[47] - The company expects long-term positive development in the IT industry in Hong Kong despite current macroeconomic challenges[47] - The company faces challenges due to a shortage of IT professionals in Hong Kong, leading to increased employee cost pressures[52] - The geopolitical tensions between the US and China, along with the Russia-Ukraine war, may impact the stability and profitability of international business operations[52] Shareholder Information - As of September 30, 2025, Mr. Yan holds 362,115,000 shares, representing approximately 57.94% of the company's equity[95] - QH Technology Holdings Limited, fully owned by Mr. Yan, also holds 362,115,000 shares, equating to 57.94% of the company's equity[97] - Mr. Yan's spouse, Liu Xia, is considered to have an interest in the same 362,115,000 shares, maintaining the 57.94% equity stake[97] - No individuals or entities, excluding directors and senior management, held 5% or more of the company's shares as of September 30, 2025[98] Dividends and Stock Options - The company did not declare or recommend any dividends for the six months ended September 30, 2025, consistent with the previous year[32] - The company did not recommend any interim dividend for the six months ended September 30, 2025[75] - No stock options were granted, exercised, expired, or lapsed during the fiscal period ending September 30, 2025, and there are no unexercised stock options under the stock option plan[82]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部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。 MELBOURNE ENTERPRISES LIMITED 喗ଋۯ嶾ޥୡҷ՚ （於香港註冊成立之有限公司） （股份編號：158） 全年業績公佈2024/2025 董 事 會 謹 此 公 佈 萬 邦 投 資 有 限 公 司（「本公司」）及 其 附 屬 公 司（「本集團」）截 至2025 年9月30日 止 年 度 之 綜 合 業 績 如 下： 綜合全面收益表 截 至2025年9月30日止年度 | | | | | | | | | | | | | 2025年 | | 2024年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | | 附 | 註 | | 港幣千元 | | 港幣千元 | | ...

Financial Performance - For the six months ended September 30, 2025, the company recorded a profit of approximately RMB 102.7 million[10]. - The group's revenue increased by approximately 11.4% from RMB 334.7 million to RMB 372.7 million for the six months ending September 30, 2024[17]. - Profit for the period decreased from RMB 129.1 million to RMB 102.7 million[23]. - Revenue for the six months ended September 30, 2025, was RMB 372,676,000, an increase of 11.4% compared to RMB 334,661,000 for the same period in 2024[75]. - Gross profit for the same period was RMB 151,780,000, slightly down by 2.6% from RMB 155,595,000 year-over-year[75]. - Net profit for the period was RMB 102,655,000, a decrease of 20.5% compared to RMB 129,116,000 in the previous year[75]. - The company reported a net asset value of RMB 517,091,000 for current assets, up from RMB 417,321,000 as of March 31, 2025[76]. - Total equity increased to RMB 2,993,547,000 as of September 30, 2025, compared to RMB 2,897,905,000 at the end of the previous period[76]. - Basic and diluted earnings per share for the period were RMB 0.0524, down from RMB 0.0610 in the same period last year[75]. Revenue Segments - The higher education segment generated revenue and profit before tax of approximately RMB 284.5 million and RMB 55.2 million, respectively[13]. - The financing and operating leasing business reported revenue and profit before tax of approximately RMB 88.1 million and RMB 87.5 million, respectively[16]. - Tuition fees for the six months ended September 30, 2025, amounted to RMB 259,115, up 8.3% from RMB 239,212 in 2024[86]. - Financing lease services revenue increased to RMB 55,800, a rise of 31.1% from RMB 42,560 in 2024[86]. - Revenue from finance leasing decreased to RMB 35,800,000 in the six months ended September 30, 2025, from RMB 42,124,000 in the same period of 2024, representing a decline of approximately 15.5%[130]. Assets and Liabilities - As of September 30, 2025, cash and cash equivalents amounted to RMB 334.3 million, a significant increase from RMB 60.9 million as of March 31, 2025[25]. - The total amount of finance lease receivables increased by approximately 1.7% from RMB 1,296.4 million to RMB 1,319.1 million[26]. - The company’s total assets less current liabilities amounted to RMB 3,155,744,000, an increase from RMB 3,088,241,000[76]. - The total liabilities rose to RMB 1,084,405,000 from RMB 877,116,000, marking an increase of about 23.6%[93]. - The company reported a foreign exchange loss of RMB 7,013,000 during the period, compared to a loss of RMB 19,938,000 in the previous year[75]. Risk Management - The company has developed a comprehensive risk management system to control credit risk in its financing and operating leasing business, including due diligence and multi-layer approval processes[37]. - The company has adopted a model for expected credit losses that considers industry-specific customer characteristics, credit history, and economic trends[39]. - The company has implemented a risk management framework tailored to its operational characteristics, focusing on comprehensive due diligence and ongoing monitoring[37]. - The board emphasizes risk prevention and asset monitoring, focusing on internal control and risk management to support steady business development and diversification[48]. Strategic Initiatives - The company is positioned to capture growth opportunities in the domestic economy through a dual-track strategy in higher education and leasing[8]. - The company aims to enhance its competitiveness by avoiding high-risk sectors and focusing on emerging fields in its business plans[8]. - The group plans to explore domestic and international business expansion and seek suitable acquisition projects, particularly in vocational education and maritime projects[47]. - The company is actively seeking to register Yantai Nanshan College as a for-profit private school, but has not yet been able to take any measures due to the lack of updates in relevant Chinese laws and regulations[66]. Corporate Governance - The board of directors is responsible for strategic decisions regarding budget, investments, acquisitions, and future development, including potential expansion to new locations[38]. - The audit committee has reviewed the group’s internal controls and financial reporting processes, ensuring compliance with regulations[52]. - The remuneration committee has provided recommendations on the compensation policies for directors and senior management, which have been adopted by the board[54]. - The nomination committee has assessed the independence of non-executive directors and provided recommendations for board elections at the annual general meeting[55]. Shareholder Information - Union Capital Pte. Ltd. holds 768,475,221 shares, accounting for 45.45% of the company's equity, making it the largest shareholder[61]. - PA Investment Funds SPC holds 135,001,120 shares, representing 7.98% of the company's equity[61]. - The company has a total issued share capital of 1,690,914,000 shares, with a par value of USD 0.000001 per share[119]. - The stock option plan adopted on February 20, 2019, aims to attract and retain top talent, with a total of 150,000,000 shares available for issuance under the plan[58][59]. Employment and Compensation - The group employed 2,319 full-time employees as of September 30, 2025, with employee benefit expenses amounting to approximately RMB 114.5 million during the reporting period[30]. - The total compensation for key management personnel was RMB 2,511,000 for the six months ended September 30, 2025, down from RMB 2,737,000 in the same period of 2024, reflecting a decrease of about 8.3%[134].