Domaine Power Holdings Limited Domaine Power Holdings Limited 域能控股有限公 司 Interim Report 2025 中期報 告 CONTENTS 目錄 02 Corporate Information 公司資料 05 Financial Highlights 財務摘要 06 Management Discussion and Analysis 管理層討論及分析 30 Corporate Governance 企業管治 31 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收益表 33 Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 35 Condensed Consolidated Statement of Changes in Equity 簡明綜合權益變動表 37 Condensed Consolidated Statem ...

Financial Performance - For the six months ended September 30, 2025, the Company reported revenue of HK$21,937,000, a slight increase of 0.32% compared to HK$21,867,000 in the same period of 2024[9]. - Gross profit for the same period was HK$667,000, representing a significant increase of 64.8% from HK$404,000 in 2024[9]. - Other income and gains surged to HK$16,110,000, compared to only HK$3,000 in the previous year, indicating a substantial growth in this area[9]. - The profit before income tax for the period was HK$11,131,000, a turnaround from a loss of HK$4,577,000 in the corresponding period of 2024[9]. - The net profit for the period reached HK$11,146,000, compared to a loss of HK$4,577,000 in 2024, showcasing a strong recovery[9]. - Basic and diluted earnings per share were both HK$0.82, a significant improvement from a loss of HK$0.33 per share in the previous year[10]. - Total comprehensive income for the period was HK$11,090,000, compared to a comprehensive loss of HK$4,590,000 in 2024, reflecting a positive shift in overall financial health[10]. Expenses and Costs - The Company incurred administrative expenses of HK$5,617,000, which increased from HK$4,931,000 in the same period last year, indicating rising operational costs[9]. - Distribution costs decreased to HK$6,000 from HK$39,000 in 2024, suggesting improved efficiency in distribution[9]. - The Company reported finance costs of HK$23,000, up from HK$14,000 in the previous year, indicating a slight increase in borrowing costs[9]. - Employee benefit expenses increased to HK$3,303,000 in 2025 from HK$3,078,000 in 2024, reflecting a rise of approximately 7.3%[64]. - The cost of inventories sold was HK$171,000 for the six months ended September 30, 2025, compared to HK$91,000 in 2024, indicating an increase of approximately 87.9%[64]. Assets and Liabilities - Total non-current assets decreased from HK$153,000 to HK$130,000, a decline of 15%[12]. - Current assets increased significantly from HK$15,101,000 to HK$23,205,000, representing a growth of 54%[12]. - Current liabilities rose from HK$17,581,000 to HK$26,224,000, an increase of 49%[12]. - The net current liabilities worsened from HK$2,480,000 to HK$3,019,000, indicating a decline in liquidity[12]. - Total liabilities decreased to HK$27,496,000 as of September 30, 2025, down from HK$30,206,000 as of March 31, 2025, a reduction of 8.5%[51]. Business Operations and Strategy - The Group's principal activities include system development services, value-added technical consultation services, and trading of hardware products and short messaging services[19]. - The Group is actively controlling administrative costs through human resources optimization and management remuneration adjustments[30]. - The Group's diversification and transformation strategy aims to mitigate the impact of complicated and volatile market conditions[114]. - The Group's strategic focus has shifted from IT system development to operational management, broadening revenue sources and fostering business growth[118]. - The company is focusing on expanding its digital product offerings, which contributed significantly to revenue growth in 2025[44]. Contracts and Collaborations - The Group signed three new contracts in May and June 2025 to cooperate with two information technology companies in providing short messaging services, which are expected to be profitable[32]. - The Group signed two contracts in the first quarter of the financial year ended 31 March 2024 to provide SMS for businesses through a major telecommunications carrier's network[116]. - In September 2025, the Group signed a contract to provide technology services for digital product operations, focusing on precision marketing through data management[127]. Share Capital and Ownership - The company raised net proceeds of approximately HK$100 million by issuing 450,000,000 ordinary shares at a subscription price of HK$0.225 per share[143]. - The total number of issued shares of the Company was 1,356,250,000 as of September 30, 2025[195]. - Mr. Pu Jian held 985,162,771 shares, representing 72.64% of the issued share capital of the Company as of September 30, 2025[192]. - Following an offer, Mr. Pu Jian's interest increased to 1,122,276,771 shares, approximately 82.75% of the total issued share capital of the Company[195]. Cash Flow and Financial Position - Cash and cash equivalents decreased from HK$1,839,000 to HK$267,000, a drop of 85%[16]. - Net cash used in operating activities improved from HK$4,935,000 to HK$1,303,000, a reduction of 74%[15]. - The company had a capital deficiency of HK$4,161,000 as of September 30, 2025, an improvement from HK$14,952,000[12]. - The total equity attributable to owners of the company increased from a deficit of HK$1,332,000 to HK$9,665,000[13]. Market Trends and Future Outlook - The number of short messages sent through mobile phones in China rose by 19.9% year on year in the first nine months of 2025[110]. - The development of SaaS platforms and cloud communication services is expected to boost demand for SMS among small and medium-sized enterprises in 2025[109]. - The company intends to capitalize on advancements in AI and chip development to support industrial upgrading and economic transformation in China[140]. Employee Information - As of September 30, 2025, the Group had 25 employees, an increase from 23 employees in 2024, with total remuneration of approximately HK$3,112,000, up from HK$2,848,000 in 2024[185][188]. - The Group's remuneration policies include contributions to a mandatory provident fund and a group medical scheme for employees[185][188].

Financial Performance - For the fiscal year ending August 31, 2025, the company's revenue decreased by 27.7% to RMB 130.8 million compared to the previous year[14] - The net profit for the fiscal year 2025 was RMB 38.3 million, while the core net profit decreased by 14.5% to RMB 34.8 million[14] - Total revenue for the fiscal year 2025 reached RMB 130.8 million, a decrease of 27.7% from RMB 181.0 million in fiscal year 2024[22] - Profit for fiscal year 2025 was RMB 38.3 million, down 60.3% from RMB 96.4 million in fiscal year 2024[22] - Revenue from school-related supply chain business was RMB 85.7 million, accounting for 65.5% of total revenue, down 30.2% from RMB 122.7 million in fiscal year 2024[24] - Revenue from comprehensive education services was RMB 45.1 million, representing 34.5% of total revenue, a decrease of RMB 13.1 million or 22.6% compared to fiscal year 2024[24] - Cost of revenue decreased by 35.0% to RMB 70.7 million in fiscal year 2025 from RMB 108.7 million in fiscal year 2024[25] - Gross profit for fiscal year 2025 was RMB 60.2 million, down 16.8% from RMB 72.3 million in fiscal year 2024, with a gross margin increase from 39.9% to 46.0%[26] - Other income decreased to RMB 10.9 million in fiscal year 2025 from RMB 25.7 million in fiscal year 2024, primarily due to a reduction in financial guarantee contract amortization income[27] - Financial income decreased to RMB 17.5 million in fiscal year 2025 from RMB 27.0 million in fiscal year 2024, mainly due to a decline in interest income from other receivables[31] - Financial costs increased to RMB 10.5 million in fiscal year 2025 from RMB 8.5 million in fiscal year 2024, attributed to rising interest rates[33] - Profit before tax for fiscal year 2025 was RMB 48.5 million, down from RMB 110.8 million in fiscal year 2024[34] - The group's profit for the fiscal year 2025 was RMB 38.3 million, a decrease from RMB 96.4 million in 2024[36] - Core net profit decreased by RMB 5.9 million or 14.5% to RMB 34.8 million in fiscal year 2025, while the core net profit margin increased from 22.5% in 2024 to 26.6% in 2025[38] Assets and Liabilities - Non-current assets increased from RMB 289.98 million in 2022 to RMB 387.46 million in 2025[12] - Current assets decreased from RMB 1,079.92 million in 2022 to RMB 874.04 million in 2025[12] - Current liabilities decreased from RMB 778.39 million in 2022 to RMB 611.59 million in 2025[12] - The total assets minus current liabilities increased from RMB 696.84 million in 2022 to RMB 649.92 million in 2025[12] - The capital debt ratio decreased to 37.1% as of August 31, 2025, down from 46.1% in 2024, primarily due to a reduction in bank borrowings and an increase in net profit[44] Business Operations - The company's comprehensive education services and school-related supply chain business were adversely affected by various macroeconomic and industry policy factors[14] - The school-related supply chain business remains a significant source of revenue for the company[14] - The company aims to build a school-related supply chain platform to become a one-stop comprehensive education service provider[15] - The group aims to integrate resources to create a comprehensive education service platform, including online education products and services, and plans to expand its school-related supply chain business[50] - The company plans to establish and operate a new high school in Zhongshan, with a maximum capacity of 5,000 students[14] Employee Compensation and Training - The company emphasizes the importance of employee training and retention to provide high-quality education services[52] - Total employee compensation for the fiscal year 2025 was approximately RMB 174 million, a decrease from RMB 195 million in fiscal year 2024[58] - The company has approximately 139 employees and participates in various employee benefit plans, including retirement and medical insurance[149] Shareholder Information - The company does not recommend a final dividend for the fiscal year ending August 31, 2025, consistent with the previous year[61] - The company's distributable reserves as of August 31, 2025, amounted to RMB 119.7 million[101] - Major shareholders include Bright Education Holdings with a beneficial interest of 930,000,000 shares, representing 42.70% of the company[147] - Bright Education Investment holds a beneficial interest of 570,000,000 shares, accounting for 26.17% of the company[148] Contracts and Agreements - A management service agreement was established with Yunfu Guangming Foreign Language School, with an annual service fee cap of RMB 8 million for the years ending August 31, 2026, 2027, and 2028[68] - The company has established a contract arrangement to gain control over Zhongshan Wenrui Education Investment Co., Ltd., which plans to establish a new high school in Zhongshan[114] - The exclusive management consulting and business cooperation agreement allows Dongguan Ruixing to receive the majority of economic benefits generated by Zhongshan Wenrui[118] - The company has entered into a management service agreement with Yunfu High School, where the service fee is set at 20% of the school's revenue, capped at RMB 8 million per year for the fiscal years ending August 31, 2026, 2027, and 2028[129] Compliance and Governance - The audit committee has reviewed the audited consolidated financial statements for fiscal year 2025 and discussed accounting policies with senior management[66] - The company has not entered into any significant contracts with its controlling shareholders during the fiscal year 2025[112] - The company has not purchased, sold, or redeemed any of its listed securities during the fiscal year 2025[62] - There were no significant non-compliance issues affecting the company's business and operations as of the fiscal year 2025[92] - The independent non-executive directors confirmed that the transactions under the Zhongshan contract arrangements were fair and in the overall interest of shareholders[131] Environmental and Social Responsibility - The group promotes energy-saving and recycling initiatives at its headquarters and schools, emphasizing environmental sustainability[91] - The company has made full contributions to the social insurance plan for all Chinese employees and aims to do the same for the housing provident fund as soon as feasible[92] - No charitable donations were made by the group in FY2025 and FY2024[194] Risks and Challenges - The company faces significant risks, including reliance on a few customers for most of its revenue and potential challenges in maintaining brand reputation and market recognition[89] Future Plans and Investments - The company has no major future investment or capital asset plans beyond those disclosed in the management discussion[51] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during fiscal year 2025[55]

Revenue Performance - Revenue decreased by approximately HK$165.4 million from approximately HK$330.0 million in the Last Period to approximately HK$164.6 million in the Current Period[10] - Revenue decreased by approximately HK$165.4 million, or 50.1%, from approximately HK$330.0 million for the Last Period to approximately HK$164.6 million for the Current Period[30] - Revenue for the six months ended September 30, 2025, was HK$164,570,000, a decrease of 50% compared to HK$330,021,000 for the same period in 2024[114] - Revenue from the supply, installation, and maintenance of the MVAC system was HK$130,456,000, down 48.00% from HK$251,082,000 in 2024[134] - Revenue from the supply, installation, and maintenance of low voltage electrical systems was HK$34,114,000, a decrease of 56.75% from HK$78,939,000 in 2024[134] Gross Profit and Loss - Gross profit increased by approximately HK$4.0 million from a gross loss of approximately HK$1.2 million in the Last Period to a gross profit of approximately HK$2.8 million in the Current Period[10] - The Group recorded a gross profit of approximately HK$2.8 million, with a gross profit margin of 1.7%, an improvement from a gross loss of HK$1.2 million and a margin of -0.4% in the previous year[31] - The company recorded a loss attributable to owners of approximately HK$3.9 million for the current period, compared to a loss of HK$8.7 million in 2024[51] - For the six months ended 30 September 2025, the loss attributable to owners of the Company was HK$3,921,000, a decrease of 55.2% compared to a loss of HK$8,747,000 for the same period in 2024[151] - Loss before taxation was HK$5,340,000, an improvement from a loss of HK$11,077,000 in the same period last year[114] Project Awards and Revenue Sources - The Group was awarded 5 projects in the Current Period with an aggregate contract sum of approximately HK$16.0 million, compared to 3 projects with a contract sum of approximately HK$109.3 million in the Last Period[11] - Revenue from MVAC system projects accounted for approximately 79.3% of total revenue in the Current Period, up from 76.1% in the Last Period[18] - Revenue from low voltage electrical system projects accounted for approximately 20.7% of total revenue in the Current Period, down from 23.9% in the Last Period[18] - The largest project awarded in the Current Period was for MVAC system installation for commercial buildings in Hong Kong, with a contract sum of approximately HK$5.8 million[16] - A project related to MVAC system installation was awarded with a contract sum of approximately HK$19.0 million after the Current Period[23] Financial Position and Liquidity - The Group maintained a healthy liquidity position with bank balance and cash of approximately HK$150.7 million as of 30 September 2025, up from HK$97.5 million[48] - The current ratio of the Group was approximately 2.2 times as of 30 September 2025, compared to 2.3 times as of 31 March 2025[49] - The group maintained a strong liquidity position with cash and bank balances of approximately HK$150.7 million as of September 30, 2025, up from HK$97.5 million as of March 31, 2025[53] - The current ratio as of September 30, 2025, was approximately 2.2 times, compared to 2.3 times as of March 31, 2025[53] - The group had no bank borrowings, resulting in a gearing ratio of nil as of September 30, 2025[55] Administrative and Other Expenses - Administrative expenses decreased to approximately HK$12.9 million from HK$13.4 million in the Last Period[34] - Other income slightly decreased to approximately HK$1.5 million from HK$1.7 million in the Last Period[32] - The Group recorded an other gain of approximately HK$3.2 million, attributed to fair value gains on financial assets[40] - Total staff costs for the six months ended 30 September 2025 were HK$37,861,000, down 21.9% from HK$48,494,000 in 2024[151] Shareholder Information and Corporate Governance - As of September 30, 2025, Yu Cheung Choy holds a long position of 246,000,000 shares, representing 61.50% of the issued share capital of the Company[88] - Lau Man Ching holds a long position of 54,000,000 shares, representing 13.50% of the issued share capital of the Company[88] - The Company is committed to maintaining good corporate governance standards to enhance shareholder value[80] - The Audit Committee was established on December 6, 2016, to oversee financial integrity and risk management[99] - All Directors and chief executives confirmed compliance with the securities trading standards during the reporting period[84] Investments and Financial Assets - The Group's financial assets at fair value through profit or loss included equity securities listed in Hong Kong valued at HK$11,254,000 as of 30 September 2025, up from HK$10,407,000 as of 31 March 2025[186] - Unlisted funds in overseas were valued at HK$13,363,000 as of 30 September 2025, compared to HK$12,334,000 as of 31 March 2025[186] - Investment in listed bonds at amortized cost decreased to HK$272,000 from HK$2,536,000 as of March 31, 2025[171] - The company reported a current investment in listed perpetual capital securities of HK$4,190,000, unchanged from the previous period[171] Employee and Management Compensation - Compensation to key management personnel, representing the Directors, was disclosed but specific amounts were not provided in the summary[174] - Directors' fees increased to HK$312,000 for the six months ended 30 September 2025, compared to HK$234,000 for the same period in 2024[175] - Salaries decreased to HK$3,245,000 for the six months ended 30 September 2025, down from HK$3,417,000 for the same period in 2024[175] Future Outlook and Strategic Focus - The Company continues to explore opportunities for market expansion and new project acquisitions[9] - Future outlook includes a commitment to enhancing service offerings and maintaining competitive positioning in the E&M engineering sector[9] - The Group is actively expanding its service scope to include diversified E&M engineering services, such as fire services systems and plumbing[26] - The Group's focus remains on the supply, installation, and maintenance of MVAC systems and low voltage electrical systems[18]

摘要 截至二零二五年九月三十日止六個月（「期內」）及截至二零二四年九月三十日止六個月 （「過往期間」）： － 期內，本集團收入約為260,300,000港元（過往期間：180,700,000港元）。 － 期內，本公司擁有人應佔虧損約為16,200,000港元（過往期間：約13,800,000港元）。 － 董事會並不建議派付期內中期股息（過往期間：無）。 － 期內，每股虧損約為2.02港仙（過往期間：約1.72港仙）。 1 德萊建業集團有限公司 德萊建業集團有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然公佈本公司及其附屬公 司（統稱「本集團」）期內之未經審核業績連同過往期間之比較數字如下： 未經審核簡明綜合損益及其他全面收益表 截至二零二五年九月三十日止六個月 | | | 截至九月三十日止六個月 | | | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | | | 附註 | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收入 | 5 | 260,341 | 180,671 | | 直接成本 | | (255,559) | (1 ...

Financial Performance - For the six months ended September 30, 2025, the company reported revenue of HKD 1,884,838,000, an increase of 4.0% compared to HKD 1,811,320,000 for the same period in 2024[12] - Gross profit for the same period was HKD 310,069,000, representing a gross margin of approximately 16.4%[12] - The net profit attributable to the owners of the company decreased to HKD 3,946,000, down 86.3% from HKD 28,808,000 in the previous year[12] - The company’s total comprehensive income for the period was HKD 40,528,000, compared to HKD 16,481,000 in the prior year[13] - Operating cash flow for the six months ended September 30, 2025, was HKD 77,004,000, down from HKD 88,532,000 in the same period last year, a decline of about 13.5%[17] - The company reported a profit of HKD 3,946,000 for the six months ended September 30, 2025, compared to HKD 28,808,000 in the same period last year, a significant drop of about 86.3%[16] - The total comprehensive income for the period was HKD 41,179,000, down from HKD 17,869,000 in the previous year, reflecting a decrease of approximately 130.5%[16] - The pre-tax profit for the six months ended September 30, 2025, was HKD 4,104,000, significantly lower than HKD 33,920,000 for the same period in 2024[28] - Net profit after tax decreased by 88.0% to HKD 3.3 million, with EBITDA down 23.7% to HKD 111.8 million, resulting in an EBITDA margin of 5.9%[61] Assets and Liabilities - Non-current assets as of September 30, 2025, totaled HKD 915,123,000, a slight decrease from HKD 926,133,000 as of March 31, 2025[14] - Current assets increased to HKD 1,958,587,000 from HKD 1,882,654,000, primarily driven by an increase in inventory[14] - Total liabilities increased to HKD 1,409,889,000, compared to HKD 1,336,358,000 in the previous period[14] - Total assets decreased to HKD 1,463,821,000 as of September 30, 2025, from HKD 1,472,429,000 as of March 31, 2025, reflecting a decline of approximately 0.6%[15] - Non-current liabilities decreased to HKD 64,271,000 from HKD 69,797,000, a reduction of about 7.9%[15] - Net assets stood at HKD 1,399,550,000, slightly down from HKD 1,402,632,000, indicating a decrease of approximately 0.2%[15] - Cash and bank deposits stood at HKD 210,283,000, a decrease from HKD 214,188,000[14] - Cash and cash equivalents at the end of the period were HKD 186,886,000, compared to HKD 201,421,000 at the end of the previous year, a decrease of approximately 7.2%[17] - Trade receivables amounted to HKD 981,856,000, a decrease from HKD 1,235,284,000 as of March 31, 2025, representing a reduction of approximately 20.5%[39] - Trade payables and notes payable totaled HKD 929,903,000 as of September 30, 2025, compared to HKD 950,807,000 as of March 31, 2025, reflecting a decrease of approximately 2.2%[41] Investments and Capital Expenditures - The company purchased property, plant, and equipment amounting to approximately HKD 32,217,000 during the period, compared to HKD 18,877,000 in the previous year, representing an increase of about 70.6%[36] - The company has capital commitments of HKD 14,268,000 for the acquisition of property, plant, and equipment as of September 30, 2025, an increase from HKD 12,211,000 as of March 31, 2025, representing a rise of about 16.9%[45] - Capital expenditures for the period totaled approximately HKD 60.4 million, compared to HKD 55.1 million in the first half of the fiscal year 2024/25[84] Shareholder Information - The company did not recommend any interim dividend for the six months ended September 30, 2025, consistent with the previous year[33] - The company declared a final dividend of HKD 45,049,000 for the year, impacting retained earnings significantly[16] - The 2023 Share Option Scheme allows for the granting of options to subscribe for shares, with a total of 61,854,000 options available for grant, representing about 7.34% of the company's issued share capital[44] - The 2023 Share Award Plan was adopted on September 7, 2023, allowing for a total of 84,254,000 shares to be awarded, representing 10% of the company's issued shares[99] - A maximum of 1% of the total issued shares can be granted to selected participants under the 2023 Share Award Plan, with no new shares being issued for the rewards[100] - The total number of rewards granted during the period was 21,600,000, with 20,800,000 rewards currently vested and 16,400,000 rewards still unvested[102] - As of September 30, 2025, the company has a total of 362,991,500 shares, with major shareholders holding significant stakes, including Solar Power Group Limited at 41.84%[105] - Mr. Ouyang Bokan, the beneficial owner, holds 10,491,500 shares directly and has control over 352,500,000 shares through Solar Power Group Limited, representing 43.08% of the issued share capital[103] Strategic Focus and Market Position - The company continues to focus on developing innovative IoT and home automation products under its own brands, SALUS Controls and Braeburn[3] - The company operates 20 offices and production bases globally, enhancing its strategic market presence[3] - The company continues to focus on research and development of electronic control devices, emphasizing smart and sustainable living solutions[18] - The company operates through two main segments: Control Solutions and Brand Business, focusing on HVAC, smart home technology, and energy management solutions[54] - The company’s innovative products are marketed under the Salus and Braeburn brands, targeting professional installers and property developers[54] - The company’s C Plus J technology integration platform provides sustainable high-performance solutions across various applications, including smart building IoT[54] - The company is committed to a "global localization" strategy to enhance resilience and sustainable growth amid geopolitical tensions and trade fluctuations[71] - Continued investment in R&D, focusing on AI, IoT, and energy management solutions, is expected to support long-term growth and competitive advantage[74] - The operational model emphasizes regional production and customer engagement, enhancing business resilience and reducing supply chain risks[76] Economic Outlook - The global economic growth is projected to slow to 3.2% in 2025, with further decline to 3.1% in 2026, influenced by ongoing supply-side constraints and geopolitical tensions[55] - Companies are expected to incur at least USD 1.2 trillion in additional costs in 2025 due to tariffs, impacting production and operational complexity[55] - The company anticipates long-term opportunities in energy efficiency and smart low-carbon technologies despite a challenging global macroeconomic environment[75] - Both core segments are expected to benefit from the global shift towards sustainable technologies, with demand for green HVAC and smart appliances increasing[77] - Ongoing investments in AI, IoT, and predictive energy management will help create higher value, technology-driven solutions[78] Risk Management - The group closely monitors its overall foreign exchange risk, primarily from transactions denominated in currencies other than its functional currency[83] - The company has established a factoring arrangement for trade receivables, transferring rights to certain banks, thus eliminating the risk of default from trade debtors[39] Employee and Management - The total employee cost for the period was HKD 362.8 million, compared to HKD 326.6 million in the first half of the fiscal year 2024/25, with the number of employees increasing to 4,591[88] - The company acknowledges the efforts and contributions of its management and staff during the reporting period[111]

Financial Performance - The company reported revenue of approximately HKD 1,576.1 million for the six months ended September 30, 2025, representing an increase of 120.7% compared to HKD 714.2 million for the same period last year[12]. - Profit attributable to equity holders decreased by approximately HKD 2.1 million or 22.6% to about HKD 7.1 million[7]. - Gross profit for the period was approximately HKD 57.8 million, an increase of about HKD 14.0 million or 31.9% compared to HKD 43.8 million in the corresponding period of 2024, with gross margin decreasing to 3.7% from 6.1% due to increased market competition[14]. - Net profit attributable to equity holders for the period was HKD 7,143, down from HKD 9,233 in 2024, representing a decrease of 22.6%[39]. - The total financing costs for the six months ended September 30, 2025, amounted to HKD 2,190,000, significantly higher than HKD 485,000 in 2024, reflecting an increase of 352.3%[65]. Business Expansion - The company secured multiple large street cleaning contracts from various government departments, contributing to a total contract value of approximately HKD 6.78 billion as of September 30, 2025, an increase of 40.7% from March 31, 2025[9]. - The commercial line of business expanded significantly, acquiring contracts from high-end clients including major shopping malls and prestigious universities[10]. - The security services business, launched in October 2023, has rapidly developed, securing contracts from large residential areas and government services[10]. - The company plans to continue focusing on core cleaning services while actively expanding into security, waste transportation, and professional pest management[11]. Operational Efficiency - The company aims to enhance service quality and operational efficiency through digitalization and the exploration of artificial intelligence applications[11]. - Service costs for the six months ended September 30, 2025, and 2024, were approximately HKD 1,518.3 million and HKD 670.4 million, representing 96.3% and 93.9% of the group's revenue, respectively, with an increase of about 2.4%[13]. - Administrative expenses increased by HKD 8.7 million or 22.5%, totaling approximately HKD 47.4 million, accounting for 3.0% of total revenue, primarily due to the expansion of the business and operational teams[15]. Financial Position - As of September 30, 2025, the group's cash and cash equivalents were approximately HKD 261.3 million, down from HKD 302.6 million as of March 31, 2025, with a current ratio of approximately 1.5 times[20]. - Total bank and other borrowings increased significantly to approximately HKD 378.1 million from HKD 8.0 million, with total bank financing available amounting to approximately HKD 1,320.5 million, of which about HKD 627.7 million remains undrawn[22]. - The capital debt ratio as of September 30, 2025, was approximately 62.9%, a significant increase from 1.7% as of March 31, 2025, primarily due to new borrowings for vehicle purchases and operational funding[23]. - The group had a net accounts receivable of approximately HKD 849.3 million as of September 30, 2025, an increase from HKD 422.2 million as of March 31, 2025, consistent with revenue growth[19]. Investments and Assets - The fair value of non-listed unit trust investments as of September 30, 2025, was HK$1,804,000, up from HK$1,713,000 as of March 31, 2025, indicating an increase of approximately 5.3%[53]. - The fair value of life insurance investments increased to HK$11,335,000 as of September 30, 2025, from HK$11,208,000 as of March 31, 2025, representing a growth of about 1.1%[54]. - The company reported a net fair value gain of HK$127,000 on life insurance investments for the six months ended September 30, 2025, compared to a gain of HK$316,000 for the same period in 2024[54]. - The group acquired properties, plants, and equipment worth approximately HK$107,426,000 for the six months ended September 30, 2025, compared to HK$11,021,000 in 2024, indicating a substantial increase of 875.5%[72]. Governance and Compliance - The company has not adopted any new accounting standards that would significantly impact its financial reporting, with the revised HKAS 21 effective from April 1, 2025, not resulting in changes to accounting policies[47]. - The company operates a single business segment providing cleaning and related services in Hong Kong, with no geographical segment reporting due to all operations being conducted in Hong Kong[59][60]. - The company complied with all applicable code provisions of the Corporate Governance Code during the period[89]. - The company's interim condensed consolidated financial information was reviewed by the audit committee and independent auditor[91]. Shareholder Information - As of September 30, 2025, major shareholders include Hong Kong Huafa Investment Holdings Limited with 42.00% and Zhuhai Huafa Group Limited with 44.25% of shares[84]. - The average number of ordinary shares used for calculating basic earnings per share remained constant at 500,000,000 for both 2025 and 2024[71]. - The group did not declare any interim dividend for the six months ended September 30, 2025, consistent with the previous year[69].

| 目錄 | | | --- | --- | | 公司資料 | 2 | | 財務摘要 | 4 | | 管理層討論及分析 | 5 | | 企業管治及其他資料 | 12 | | 簡明綜合損益及其他全面收益表 | 17 | | 簡明綜合財務狀況表 | 18 | | 簡明綜合權益變動表 | 20 | | 簡明綜合現金流量表 | 21 | | 簡明綜合財務報表附註 | 23 | 董事會 執行董事 賴偉先生 （主席） 賴英華先生 獨立非執行董事 梁以德教授 何大東先生 曾詠翹女士 蔡浩仁先生 審核委員會 蔡浩仁先生 （主席） 梁以德教授 何大東先生 曾詠翹女士 薪酬委員會 01 生興控股（國際）有限公司 2025年中期報告 公司資料 梁以德教授 （主席） 何大東先生 曾詠翹女士 蔡浩仁先生 提名委員會 賴偉先生 （主席） 梁以德教授 何大東先生 曾詠翹女士 開曼群島股份過戶登記總處 Conyers Trust Company (Cayman) Limited Cricket Square Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands 香港股 ...

中期報告 2025/26 簡明綜合收益表 截至二零二五年九月三十日止六個月 | | | （未經審核） | | | --- | --- | --- | --- | | | | 截至九月三十日止六個月 | | | | | 二零二五年 | 二零二四年 | | | 附註 | 千港元 | 千港元 | | 營業額 | 6 | 18,422 | 16,662 | | 已售貨品成本 | | (17,882) | (15,670) | | 毛利 | | 540 | 992 | | 其他收入 | 7 | 185 | 200 | | 銷售及分銷支出 | | (3,797) | (3,684) | | 行政支出 | | (7,543) | (7,278) | | 經營虧損 | 8 | (10,615) | (9,770) | | 財務費用 | 9 | (1,744) | (1,908) | | 分佔一間採用權益法入賬之合營企業之虧損淨額 | | (82) | (83) | | 除所得稅前虧損 | | (12,441) | (11,761) | | 所得稅支出 | 10 | (8) | (8) | | 期內虧損 | | (12,449 ...

注意：tab改為21pt，中文第一行有縮排，英文第一行無縮排。 注意： tab 改為 21pt ，中文第一行有縮排，英文第一行無縮排。 目錄 本中期報告以中英文編製。如有任何歧義，以英文文本為準。 注意：tab改為21pt，中文第一行有縮排，英文第一行無縮排。 注意： tab 改為 21pt ，中文第一行有縮排，英文第一行無縮排。 02 公司資料 04 管理層討論與分析 17 企業管治及其他資料 未經審核中期財務資料 30 獨立審閱報告 32 中期簡明綜合損益表 33 中期簡明綜合全面收益表 34 中期簡明綜合財務狀況表 36 中期簡明綜合權益變動表 38 中期簡明綜合現金流量表 41 中期簡明綜合財務資料附註 公司資料 董事會 執行董事 沈滌凡先生 （首席執行官） 屠燕武先生 非執行董事 朱順炎先生 （主席） 黃佼佼女士 徐海鵬先生 獨立非執行董事 黃一緋女士 邵蓉博士 吳亦泓女士 審核委員會 吳亦泓女士 （主席） 黃一緋女士 邵蓉博士 薪酬委員會 黃一緋女士 （主席） 黃佼佼女士 吳亦泓女士 提名委員會 朱順炎先生 （主席） 邵蓉博士 吳亦泓女士 授權代表 沈滌凡先生 徐曉亮女士 公司秘書 徐曉亮女士 鄧 ...