Financial Performance - The company's revenue for the six months ended September 30, 2025, was approximately HKD 10.7 million, a decrease of about 6.6% compared to HKD 11.4 million for the same period in 2024[3] - Gross profit for the same period was approximately HKD 8.2 million, down about 5.3% from HKD 8.7 million in 2024, with a gross margin of approximately 77.1%, an increase of about 1.0% year-on-year[5] - The net loss for the reporting period was approximately HKD 4.8 million, an improvement from a net loss of HKD 6.6 million in the previous year[5] - The company reported a loss before tax of HKD 4,766,000, an improvement from a loss of HKD 6,556,000 in the previous year, indicating a reduction in losses by 27.3%[48] - Basic and diluted loss per share for the period was HKD 1.32, compared to HKD 1.81 for the same period in 2024, showing a decrease in loss per share by 27.1%[48] - The company reported a basic loss attributable to equity holders of HKD 4,766,000 for the six months ended September 30, 2025, compared to a loss of HKD 6,556,000 for the same period in 2024, indicating a 27.2% improvement in losses year-over-year[78] Expenses and Cost Management - Administrative expenses decreased to approximately HKD 10.6 million from about HKD 12.3 million, a reduction of approximately 14.3%[7] - The company has implemented several cost control measures to reduce operating costs and improve working capital management[62] - Financing costs for the six months ended September 30, 2025, totaled HKD 2,189,000, down 10.3% from HKD 2,442,000 in 2024[72] - The company recorded a depreciation expense of HKD 2,901,000 for the six months ended September 30, 2025, down from HKD 4,088,000 in the previous year[54] - Depreciation expenses for property, plant, and equipment amounted to HKD 2,901,000 for the six months ended September 30, 2025, compared to HKD 4,088,000 in 2024, reflecting a reduction of 29.0%[73] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 9,816,000, an increase from HKD 9,295,000 as of March 31, 2025[50] - Current liabilities increased to HKD 61,727,000 from HKD 59,504,000, reflecting a rise of 3.7%[50] - The company's equity as of September 30, 2025, was a deficit of HKD 15,516,000, worsening from a deficit of HKD 10,750,000 as of March 31, 2025[50] - The company's current liabilities net value as of September 30, 2025, was HKD 51,911,000[60] - Trade receivables increased to HKD 429,000 as of September 30, 2025, from HKD 314,000 as of March 31, 2025, reflecting a 36.5% increase[81] - Trade payables surged to HKD 1,663,000 as of September 30, 2025, compared to HKD 450,000 as of March 31, 2025, marking a significant increase of 270.4%[83] Corporate Governance - The company maintains a high standard of corporate governance and has complied with the relevant provisions of the corporate governance code during the reporting period[27] - The board regularly reviews the company's corporate governance practices and will implement changes as necessary to ensure ongoing compliance[28] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules[29] - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[47] Shareholder Information - Directors and senior executives hold a total of 270,000,000 shares, representing approximately 74.66% of the company's ordinary shares[31] - Profit Ocean, a major shareholder, holds 270,000,000 shares, which is 74.66% of the total issued shares[36] - Huang Dek Ming holds 18,135,000 shares, representing 5.01% of the total issued shares[36] - The directors are considered to have interests in all shares held by Profit Ocean due to a concerted action arrangement[32] Future Outlook - The company anticipates stable revenue growth as the overall economy in Hong Kong continues to improve, while closely monitoring administrative expenses to reduce future losses[9] - The company expects to maintain existing bank financing and secure new sources of financing[62] - Related party Chen Xinghai Enterprises Limited has confirmed it will not demand repayment of the promissory notes before ensuring the company can meet its obligations to other creditors[62] - The company has received a commitment from related party Jin Hai International Group Limited to provide ongoing financial support for at least twelve months from the date of board approval of the unaudited interim financial statements[62] Dividends - The board of directors resolved not to declare any dividends for the reporting period[21] - No interim dividend was recommended for the six months ended September 30, 2025, consistent with the previous year[76]

Financial Performance - Total revenue for the six months ended September 30, 2025, was HKD 429,644,000, representing a 7.7% increase from HKD 398,953,000 in the same period of 2024[9]. - Gross profit rose by 23.2% to HKD 253,601,000, with a gross margin of 59.0%, up from 51.6%[9]. - Profit attributable to equity holders increased by 20.0% to HKD 115,011,000, with a profit margin of 26.8%[9]. - Adjusted EBITDA for the period was HKD 175,315,000, reflecting a 21.7% increase, with an adjusted EBITDA margin of 40.8%[9][10]. - Operating profit rose by HKD 29.0 million or 23.8% to HKD 150.6 million, mainly due to increased gross profit[56]. - Net profit for the period was HKD 120,659,000, up 21.6% from HKD 99,276,000 in the same period last year[117]. - Basic and diluted earnings per share increased to HKD 14.12, compared to HKD 11.63 in the previous year, reflecting a growth of 21.4%[117]. - The company reported a total comprehensive income of HKD 120,962,000, an increase of 27.3% from HKD 95,027,000 in the prior year[117]. Revenue Breakdown - Brand medicine revenue increased by 15.5% to HKD 150,908,000, while health supplements revenue decreased by 13.2% to HKD 42,178,000[9]. - The brand health business recorded a revenue increase of 7.7% year-on-year to HKD 429.6 million, with gross profit rising by 23.2% to HKD 253.6 million, and profit attributable to equity holders increasing by 20.0% to HKD 115.0 million[24]. - The brand pharmaceutical segment, particularly the product He Ji Gong, achieved a revenue growth of 15.5% to HKD 150.9 million, driven by effective market strategies and promotional activities[27]. - Revenue from the traditional Chinese medicine segment increased by HKD 16.8 million, representing a growth of 7.6%, supported by strong sales of specific products[46]. - Revenue from external customers in Hong Kong increased significantly to HKD 367,443,000 in 2025 from HKD 264,631,000 in 2024, marking a growth of approximately 38.9%[138]. Assets and Liabilities - Total assets as of September 30, 2025, were HKD 1,771,878,000, a 14.7% increase from the previous period[9]. - Total liabilities increased by 67.9% to HKD 640,098,000, indicating a significant rise in financial obligations[9]. - Total equity decreased by 2.8% to HKD 1,131,780,000, suggesting a slight reduction in shareholder value[9]. - The net capital debt ratio as of September 30, 2025, was 13.8%, up from zero on March 31, 2025[71]. - Cash and cash equivalents decreased to HKD 194,197,000 as of September 30, 2025, from HKD 205,847,000 as of March 31, 2025, a decline of about 5.4%[120]. Strategic Initiatives - The company aims to enhance its brand management and product portfolio to strengthen its position in the Asian healthcare market[15]. - The company is committed to maintaining high-quality standards and is one of the few GMP-certified manufacturers of traditional Chinese medicine in Hong Kong[18]. - The company is leveraging its strong product portfolio and brand management expertise to navigate market challenges and enhance its position in the health product sector in Hong Kong and the Greater Bay Area[23]. - The company plans to expand its product portfolio by launching new concentrated Chinese medicine granules and health supplements, while also enhancing the registration scope of its compound granules[39]. - The company is set to launch an upgraded Chinese medicine e-commerce platform designed for practitioners and clinics to improve service efficiency and deepen customer interaction[39]. Marketing and Brand Development - The introduction of a new convenient packaging for Bao Ji Wan, designed for on-the-go consumption, is part of a comprehensive advertising campaign to boost brand visibility[30]. - The company is actively engaging in multi-channel marketing strategies to strengthen brand awareness and consumer interaction across different age groups[31]. - The brand's innovative marketing strategy won two industry awards in 2025, further solidifying its image in the pain relief category[33]. Acquisitions and Investments - The company completed the acquisition of 90% of Tianxi Tang's issued shares for a total consideration of HKD 171 million on April 3, 2025[75]. - The company also agreed to acquire all issued shares of Jianfu Tang Chinese Medicine Group for HKD 38 million on June 16, 2025[75]. - Tianxi Tang contributed revenue of HKD 12,800,000 and profit of HKD 5,335,000 from April 3, 2025, to September 30, 2025[160]. - Jianfu Tang contributed revenue of HKD 11,151,000 and profit of HKD 708,000 from June 30, 2025, to September 30, 2025[165]. Shareholder Information - The interim dividend declared for the six months ending September 30, 2025, is HKD 0.0975 per share, totaling approximately HKD 80.1 million, compared to HKD 0.055 per share and HKD 45.2 million for the same period last year[90]. - The major shareholder, Mr. Chan, holds approximately 71.96% of the issued share capital, equating to 591,523,346 shares[92]. - Lincoln's Hill holds 322,834,578 shares, representing 39.27% of the issued share capital[97]. - The company will suspend the transfer of shares from December 2 to December 3, 2025, to determine the eligibility of shareholders for the interim dividend[91]. Management and Governance - The audit committee consists of three independent non-executive directors, responsible for overseeing the integrity and accuracy of the company's financial statements[87]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[88]. - The company has no significant changes in the interests of directors and key executives in shares or related securities as of September 30, 2025[96].

Interim Report 中期報告 2025 SERVE The Better LOVE The Community 服 務 美 好· 善 愛 生 活 Interim Report 中期報告 2025 CONTENT 目錄 2 Company Introduction 公司簡介 3 Corporate Information 公司資料 5 Management Discussion and Analysis 管理層討論與分析 17 Other Information 其他資料 24 Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 中期簡明綜合損益及其他全面收益表 26 Interim Condensed Consolidated Statement of Financial Position 中期簡明綜合財務狀況表 28 Interim Condensed Consolidated Statement of Changes in Equity 中期簡明綜合權益變動表 30 I ...

INTERIM REPORT 2025/26 中期報告 CONTENTS 目錄 Mr. Yip Yuk Kit (Chairman) (Chief Executive Officer) Mr. Cheung Chun Fai Mr. Zou Shuji (appointed on 21 November 2025) Independent Non-Executive Directors Mr. Lee Kwok Lun Mr. Chan Wa Shing Ms. Ding Xin AUDIT COMMITTEE Mr. Lee Kwok Lun (Chairman) Mr. Chan Wa Shing Ms. Ding Xin REMUNERATION COMMITTEE 2-3 Corporate Information 公司資料 4-11 Management Discussion and Analysis 管理層討論及分析 12-41 Condensed Consolidated Interim Financial Statements 簡明綜合中期財務報表 42-48 Corporate Govern ...

Revenue and Financial Performance - Total revenue increased by 14.9% from HK$7,792,000 in 2024 to HK$8,953,000 in 2025[11] - Revenue from the publishing and IP licensing business was HK$7,783,000 in 2025, compared to HK$7,680,000 in 2024[12] - Revenue for the six months ended September 30, 2025, increased to HK$8,953,000 from HK$7,792,000, representing a growth of 14.9% year-over-year[39] - Gross profit for the same period rose to HK$3,694,000, compared to HK$3,527,000, marking an increase of 4.7%[39] - The Group's revenue from comic book sales was HK$6,112,000, contributing significantly to the total revenue[72] - Revenue from royalty income from IP licensing was HK$1,671,000, indicating ongoing monetization of intellectual properties[72] - External sales from the Publishing and IPs licensing segment were HK$7,783,000, while the Digital marketing segment generated HK$1,170,000 in external sales[83] Losses and Expenses - Loss before tax significantly increased to HK$31,799,000 from HK$11,933,000, indicating a rise of 166.7% year-over-year[39] - Loss for the period escalated to HK$32,099,000, compared to HK$11,620,000, reflecting an increase of 175.5%[41] - Total comprehensive expense for the period amounted to HK$31,521,000, up from HK$10,409,000, a rise of 202.5%[41] - The total loss before tax for the Group was HK$31,799,000, compared to a loss of HK$11,933,000 for the same period in 2024, indicating a significant increase in losses[83] - The Digital marketing segment reported a segment result loss of HK$24,058,000, contributing significantly to the overall loss[83] - The Group's unallocated expenses for the period were HK$8,256,000, which impacted the overall financial performance[83] Impairment and Asset Management - The Group incurred an impairment loss on intangible assets of HK$16,313,000 due to intense competition in the smart/AI product market[19] - The Group reported an impairment loss of HKD 16,313,000 on intangible assets due to the unfavorable market conditions for its Chinese smart products[22] - Impairment loss on intangible assets recognized was HK$16,313,000 for the six months ended September 30, 2025, with no impairment loss recorded in the same period of 2024[98] - An impairment loss of approximately HK$4,859,000 was recognized for deposits related to AI technology, reflecting caution in investment prospects due to unfavorable market conditions[136] Operating Expenses and Workforce - Net operating expenses for the AI speech technology segment amounted to approximately HK$24,058,000, primarily due to personnel and business promotion costs[20] - The Group employed 15 personnel in the AI speech technology segment and plans to continue hiring professionals for technical and business development[20] - The total manpower as of 30 September 2025 was 46, an increase from 45 on 31 March 2025[21] - For the six months ended September 30, 2025, the net operating expenses amounted to approximately HKD 24,058,000, primarily driven by personnel and business promotion costs[22] - The total number of employees increased from 45 to 46 as of March 31, 2025, indicating a focus on expanding the workforce for business development[23] Strategic Initiatives and Future Plans - The Group is focusing on expanding traditional publishing operations through AI technology to enhance production quality and cost control[12] - The Group aims to launch the natural language processing segment to generate profits as soon as possible[21] - The Group is enhancing cooperation with iFlytek and IBT to develop AI speech real-time human-computer interaction technology, with products like the Feilong Master mobile phone set to launch gradually[24] - The Group plans to expand its IP revitalization business by converting over 200 IPs into animation, short dramas, and short video content using AI technology[25] - The Group aims to maintain sustainable development while quickly bringing the natural language processing division to market for profitability[23] - The Group's focus on AI technology has opened significant opportunities in content creation, licensing, and derivative applications[25] - The Group's strategy includes the "fragmentation" of its IP portfolio to leverage AI technology for new content formats[25] Cash Flow and Financial Position - Cash and cash equivalents increased to HK$18,672,000 from HK$18,429,000, a growth of 1.3%[44] - Operating cash flows before movements in working capital were HK$7,385,000 for the six months ended September 30, 2025, an improvement from HK$9,129,000 in 2024[53] - Net cash used in operating activities was HK$4,933,000 for the six months ended September 30, 2025, compared to HK$8,849,000 in 2024, indicating a reduction in cash outflow[53] - The company reported a net cash used in financing activities of HK$1,274,000 for the six months ended September 30, 2025, a significant decrease from HK$5,938,000 in the same period of the previous year[56] - Cash and cash equivalents at the end of the period were HK$18,672,000, down from HK$24,741,000 at the beginning of the period[56] Share Capital and Options - The company has adopted a new share option scheme effective for 10 years from 29 August 2023, replacing the previous scheme that expired on 11 August 2023[169] - A total of 14,000,000 share options were granted under the 2013 Scheme, representing approximately 0.84% of the total number of shares in issue at the time of grant[170] - The company’s issued and fully paid share capital remained at HK$16,687,000 as of both 30 September 2025 and 31 March 2025, with 1,668,657,000 shares issued[167] - As of September 30, 2025, a total of 14,000,000 share options under the 2013 Scheme lapsed, resulting in no outstanding share options from this scheme[179] - Under the 2023 Scheme, no share options were granted, exercised, cancelled, or lapsed as of September 30, 2025[180] Taxation and Compliance - Current tax expense for Hong Kong profits tax was HK$25,000 for the six months ended September 30, 2025, compared to HK$21,000 in 2024[111] - Deferred tax expense for the period was HK$275,000, a decrease from a credit of HK$334,000 in 2024[111] - The total income tax expense credit for the period was HK$300,000, compared to a credit of HK$313,000 in 2024[111] - The company is not subject to any income tax in Bermuda for both interim periods[104] - No dividend was paid, declared, or proposed during the interim periods[112]

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 27,782,000, an increase of 6.56% compared to HKD 26,070,000 in the same period of 2024[4] - Gross profit for the same period was HKD 5,161,000, representing a significant increase from HKD 3,564,000, marking a growth of 45%[4] - The net profit attributable to the company's owners for the six months was HKD 15,374,000, a turnaround from a loss of HKD 1,281,000 in the previous year[4] - Total comprehensive income for the period was HKD 16,875,000, compared to a loss of HKD 3,288,000 in the same period last year[5] - The group recorded a profit before tax of HKD 15,374,000 for the six months ended September 30, 2025, compared to a loss of HKD 1,281,000 in the same period of 2024[22] - The basic and diluted earnings per share for the six months ended September 30, 2025, were HKD 0.0655, compared to a loss per share of HKD 0.0133 in the same period of 2024[25] - The company reported a profit attributable to shareholders of approximately HKD 15,374,000, compared to a loss of HKD 1,281,000 in the previous year, with earnings per share of HKD 0.0656[42] Assets and Liabilities - Current assets increased to HKD 72,132,000 from HKD 50,795,000, reflecting a growth of 42%[6] - Total assets as of September 30, 2025, were HKD 74,714,000, up from HKD 51,876,000, indicating a 44% increase[6] - Total equity rose to HKD 61,450,000 from HKD 44,575,000, representing a growth of 38%[7] - Cash and cash equivalents decreased to HKD 4,685,000 from HKD 15,042,000, a decline of 69%[10] - Trade receivables as of September 30, 2025, totaled HKD 67,538,000, with a credit loss provision of HKD 39,265,000, resulting in a net receivable of HKD 28,273,000[31] - Trade payables as of September 30, 2025, amounted to HKD 10,023,000, reflecting an increase from HKD 3,202,000 as of March 31, 2025[32] - The total current assets amounted to approximately HKD 72,132,000, while current liabilities were approximately HKD 13,264,000 as of September 30, 2025[46] - The company has no bank borrowings as of September 30, 2025, maintaining a capital debt ratio of zero[46] Income and Expenses - The company reported a significant increase in other income, totaling HKD 12,777,000, compared to a loss of HKD 1,259,000 in the prior year[4] - Other income, primarily from fair value changes of financial assets held for trading, amounted to HKD 12,777,000, a significant recovery from a loss of HKD 1,259,000 in the prior year[21] - Administrative expenses decreased to approximately HKD 2,564,000 from HKD 3,586,000 in the previous year, primarily due to reduced employee costs and marketing expenses[41] Revenue Segments - The advertising segment generated revenue of HKD 10,180,000, up 18.63% from HKD 8,580,000 in the prior year[19] - The e-commerce segment reported revenue of HKD 17,602,000, a slight increase of 0.64% from HKD 17,490,000 in the previous year[19] - For the six months ended September 30, 2025, the total revenue from contracts with external customers was HKD 27,782,000, representing an increase of 6.56% from HKD 26,070,000 in the same period of 2024[16] Investments - The company has significant investments in listed equity securities, with a total fair value of approximately HKD 34,288,000, representing 45.9% of total assets[49] - The Group holds a significant investment in Investment 1, valued at approximately HKD 3,740,000, representing 1.1% equity, which accounts for about 5.0% of the Group's total assets as of September 30, 2025[50] - The Group holds a significant investment in Investment 2, valued at approximately HKD 5,667,000, representing 2.4% equity, which accounts for about 7.6% of the Group's total assets as of September 30, 2025[51] - The Group holds a significant investment in Investment 3, valued at approximately HKD 6,197,000, representing 4.8% equity, which accounts for about 8.3% of the Group's total assets as of September 30, 2025[52] - The company’s investments in listed equity securities are intended for long-term strategic purposes, with market price fluctuations not aligning with the long-term strategy[29] Corporate Governance - The company has adopted and complied with all provisions of the Corporate Governance Code, except for certain deviations regarding the separation of roles between the Chairman and CEO, as no Chairman has been appointed as of September 30, 2025[87] - The Audit Committee consists of three independent non-executive directors, with Mr. Liao Guangsheng serving as the chairman, ensuring proper oversight of financial reporting and risk management[88] - The Board is composed of executive directors Mr. Wang Shidi, Ms. Sun Wei, and Ms. Man Qiaozhen, along with independent non-executive directors Mr. Liao Guangsheng, Ms. Wang Miaojun, and Ms. Wang Yujie[91] Future Outlook - The advertising segment's revenue is expected to grow as the company shifts its customer base from mainland China to the more stable Hong Kong market[44] - The company plans to continue investing in customized product services to strengthen its position in the Hong Kong e-commerce market[45] - Future plans include continuous development in advertising and e-commerce, diversification into other industries, and potential acquisitions to expand the product portfolio[80] - The company aims to utilize excess capital for diversified investments to achieve returns above typical bank deposit rates, enhancing equity returns[68] Employee and Operational Information - The company has 22 full-time employees as of September 30, 2025, all based in Hong Kong and China, with compensation aligned with market levels[78] - The company anticipates a strong retail sales growth of 5.9% year-on-year in Hong Kong for September 2025, driving its expansion strategy[79] Miscellaneous - The company did not declare or propose any interim dividends for the six months ended September 30, 2025[24] - The company has adopted a new share option scheme as of September 18, 2025, following the expiration of the previous scheme in August 2024[36] - There were no significant changes affecting the company's performance from April 1, 2025, to September 30, 2025[75] - There are no significant events after the reporting period that require disclosure[89] - The Board expresses gratitude to shareholders, management, and employees for their efforts and support[90]

中 期 報 告 CENTURY PLAZA HOTEL GROUP 新都酒店集 團 （於開曼群島註冊成立的有限公司） （原名為長城匯理公司） 股份代號： 8315 CENTURY PLAZA HOTEL GROUP 新都酒店集 團 (Formerly known as Greatwalle Inc.) (Incorporated in the Cayman Islands with limited liability) Stock Code: 8315 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，此等公司相比其他在聯交所上市的公司帶有較高投 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， 並明確表示概不就因本報告全部或任何部分內容而產生或因依賴該等內容而 ...

Financial Performance - The Group reported a loss of approximately HK$29 million for the six months ended 30th September 2025, compared to a profit of approximately HK$7 million in the same period last year, with revenue decreasing by approximately 16% to about HK$429 million[3][4]. - The gross profit margin decreased by approximately six percentage points compared to the same period last year, primarily due to intensified industry competition and aggressive pricing strategies[4]. - Revenue for the six months ended September 30, 2025, was HK$429,409,000, a decrease of 15.6% compared to HK$508,622,000 for the same period in 2024[130]. - Gross profit for the same period was HK$52,540,000, down 42.2% from HK$90,901,000 in 2024[130]. - The operating loss for the period was HK$27,529,000, compared to an operating profit of HK$10,196,000 in the previous year[130]. - The net loss attributable to owners of the Company was HK$28,812,000, a significant decline from a profit of HK$7,260,000 in 2024[130]. - Total comprehensive loss for the period was HK$18,876,000, compared to a comprehensive income of HK$27,291,000 in 2024[132]. - The company reported a comprehensive loss of HK$29,030,000 for the six months ended September 30, 2025[139]. Operational Challenges - The Southern China operation faced significant challenges due to new US tariffs on various Chinese imports, leading to a sharp contraction in export orders and an overall business loss[16][18]. - The Guangzhou plant maintained profitability through automation and lean production, while the Shaoguan plant turned from profit to loss due to reduced export orders, and the Suzhou plant's losses expanded due to delayed orders from major customers[5][12]. - The Eastern China operation underwent strategic adjustments, including market diversification and partnerships with leading board game service providers to fill order gaps caused by trade policy impacts[22][24]. Innovation and Development - The Group obtained a total of 14 new patents across its various plants, demonstrating strong capabilities in process improvement and product development[11][13]. - The Group is accelerating the deployment of production capacity in Southeast Asia to diversify geopolitical risks and enhance operational efficiency through technological innovation[7][10]. - The Group is exploring non-traditional business areas such as e-commerce and high-end packaging to promote business diversification and consolidate its market position[7][9]. - The environmentally friendly product brand "TEAM GREEN®" achieved significant business expansion, with notable sales growth in Hong Kong's core business districts and successful collaborations with popular IP brands[21][23]. Financial Position - The Group's cash and bank balances as of September 30, 2025, amounted to approximately HK$115 million, down from HK$199 million on March 31, 2025[33]. - Total bank borrowings as of September 30, 2025, were approximately HK$27.4 million, a decrease from HK$73.5 million on March 31, 2025[37]. - The Group's working capital surplus as of September 30, 2025, was approximately HK$198 million, down from HK$252 million on the same date in 2024[39]. - The gearing ratio as of September 30, 2025, was 5%, compared to 7% in 2024, indicating a reduction in financial leverage[39]. - Interest expense for the period was approximately HK$1 million, a decrease from HK$1.6 million in the same period of 2024[38]. Employee Relations and Governance - The Group employs approximately 2,400 employees and maintains good relations with them, offering competitive packages and various training programs[47]. - The Group's remuneration packages for employees, including Directors, are determined based on individual performance and current market rates[52]. - The Group has maintained a share option scheme to incentivize certain employees, including executive directors[47]. - The Company has complied with the Corporate Governance Code throughout the six months ended September 30, 2025, except for certain deviations[108]. Market and Economic Outlook - The global economy is projected to grow at rates of 3.2% and 3.1% for 2025 and 2026, respectively, despite ongoing trade policy uncertainties[30]. - The Group aims to expand its non-traditional operations and high-value-added product portfolio by leveraging opportunities from the Regional Comprehensive Economic Partnership (RCEP)[31]. Cash Flow and Investments - For the six months ended September 30, 2025, Starlite Holdings reported a net cash used in operating activities of HK$29,253,000, an increase from HK$24,836,000 in the same period of 2024, representing a 17.4% increase[141]. - Cash flows from investing activities showed a net cash outflow of HK$7,965,000, slightly improved from HK$8,190,000 in 2024, indicating a 2.8% decrease in cash used for investments[141]. - The company experienced a significant increase in repayments of bank loans, totaling HK$46,188,000, compared to HK$23,051,000 in the previous year, marking a 100.5% increase[141]. Shareholder Information - As of September 30, 2025, Ms. Li Lin holds 202,962,677 shares, representing approximately 40.54% of the total shareholding[96]. - The Company has not purchased, sold, or redeemed any of its securities during the six months ended September 30, 2025[107]. - No interim dividend was recommended for the six months ended September 30, 2025, compared to an interim dividend of HK$0.01 per share in 2024[187].

Financial Performance - The group's revenue for the six months ended September 30, 2025, was HKD 973.4 million, an increase of 1.2% compared to HKD 961.8 million in the same period last year[8]. - Net profit attributable to equity shareholders was HKD 150 million, up 14% from HKD 131.6 million in the same period last year[8]. - The company reported a revenue of HKD 973,354,000 for the six months ended September 30, 2025, representing a year-over-year increase of 1.6% from HKD 961,807,000 in 2024[22]. - Gross profit for the same period was HKD 454,432,000, up 6.7% from HKD 426,097,000 in the previous year[22]. - Operating profit increased to HKD 167,620,000, a rise of 4.9% compared to HKD 160,522,000 in 2024[22]. - Profit attributable to equity shareholders for the period was HKD 150,034,000, reflecting a 14.0% increase from HKD 131,590,000 in the prior year[22]. - The total comprehensive income for the period was HKD 189,491,000, significantly higher than HKD 134,915,000 in 2024, driven by foreign exchange gains[24]. - The company's pre-tax profit for the six months ended September 30, 2025, was HKD 165,625,000, down from HKD 181,637,000 in the same period of 2024, indicating a decline of about 8.8%[43]. Dividends - The group declared an interim dividend of HKD 0.10 per ordinary share and a special dividend of HKD 0.20 per ordinary share[9]. - The board declared an interim dividend of HKD 0.10 per share and a special dividend of HKD 0.20 per share, totaling HKD 0.30 per share, which represents a 200% increase from the previous year[68]. - The total dividend payout ratio is 77.19%, up from 29.96% in 2024, with a total dividend amounting to approximately HKD 115.82 million, compared to HKD 39.42 million in 2024[68]. Sales Performance - Sales revenue in Hong Kong decreased by approximately 1.3% during the review period due to weak consumer confidence[10]. - In Taiwan, sales revenue decreased by 12.5% in local currency due to deteriorating market conditions and consumer behavior[10]. - In China, sales revenue increased by 28.3% in local currency as the group continued to expand its retail network[10]. - Revenue from luxury goods sales for the six months ended September 30, 2025, was HKD 893,140,000, a slight decrease of 1.0% from HKD 902,856,000 in 2024[37]. - Revenue from management and support services reached HKD 7,956,000 for the six months ended September 30, 2025, up from HKD 5,352,000 in 2024, indicating a growth of 48.73%[51]. Cash and Liquidity - The group holds net cash of HKD 2.72 billion, allowing it to manage the challenging retail environment and seek new investment opportunities[14]. - The company maintained a strong cash position with cash and bank balances of HKD 3,338,778,000, up from HKD 3,275,825,000[27]. - Operating cash before changes in working capital for the six months ended September 30, 2025, was HKD 202,442,000, compared to HKD 172,847,000 for the same period in 2024, representing an increase of 17.0%[29]. - Net cash generated from operating activities for the six months ended September 30, 2025, was HKD 7,112,000, down 94.5% from HKD 130,692,000 in 2024[29]. - The total cash and cash equivalents as of September 30, 2025, amounted to HKD 3,338,778,000, compared to HKD 3,448,661,000 at the end of the previous period, reflecting a decrease of 3.2%[29]. Assets and Liabilities - Non-current assets totaled HKD 491,042,000 as of September 30, 2025, down from HKD 569,760,000 at the end of March 2025[27]. - Current assets increased to HKD 4,522,135,000, compared to HKD 4,313,977,000 in March 2025, indicating improved liquidity[27]. - The company's net asset value rose to HKD 3,723,302,000 from HKD 3,533,811,000, reflecting a growth of 5.4%[27]. - Total liabilities, including accounts payable and accrued expenses, amounted to HKD 300,833,000, up from HKD 296,569,000 in the previous period[49]. - The total amount of bank loans secured as of September 30, 2025, was HKD 609,614,000, slightly up from HKD 605,309,000 at the end of March 2025[48]. Employment and Management - As of September 30, 2025, the group employed 590 staff, a decrease from 618 in 2024, with total employee costs amounting to HKD 116.6 million, compared to HKD 114.9 million in 2024[65]. - The chairman, Pan Disheng, will retire from his positions but will continue to support the group as a member and chairman of the investment committee[15]. - Changes in the board of directors include Mr. Pan Dingsheng retiring from his positions, while Mr. Chen Hansong has been appointed as the acting chairman and chairman of the nomination committee[75]. Market Outlook - The group anticipates continued weakness in the Hong Kong retail market due to structural changes in consumer behavior[12]. - The company did not report any major customer reliance, indicating a diversified customer base[37]. Accounting and Compliance - The company has adopted revised accounting standards with no significant impact on the interim financial report[34]. - The audit committee has reviewed the unaudited consolidated interim results for the six months ending September 30, 2025[76].

Revenue and Profitability - Revenue for the six months ended September 30, 2025, was RMB 11,107,792, representing a 2.1% increase from RMB 10,876,637 in the same period of 2024[19]. - Profit attributable to equity holders decreased by 7.8% to RMB 1,717,427 from RMB 1,863,371[19]. - Basic and diluted earnings per share were RMB 14.55, down 7.8% from RMB 15.78[19]. - The Group's profit for the period was RMB 1,717,236, compared to RMB 1,862,321 for the same period in 2024, indicating a decrease of approximately 7.8%[169]. - Total comprehensive income for the period was RMB 1,788,728, slightly down from RMB 1,791,025 in 2024[129]. Gross Profit and Margins - Gross profit decreased slightly to RMB 5,131,748, down 0.2% from RMB 5,141,311 year-over-year[19]. - Gross profit margin declined to 46.2%, a decrease of 1.1 percentage points from 47.3%[19]. - The gross profit margin decreased by 1.1 percentage points to 46.2%, primarily due to increased unit costs of imported whole milk powder and palm oil offsetting decreases in other raw material costs[23]. - The gross profit margin for the dairy products and beverages segment was 47.8% for the first half of FY2025, a decrease of 2.5 percentage points year-on-year, primarily due to a double-digit increase in the unit cost of imported whole milk powder[73][76]. - The gross profit margin for the snack foods segment increased to 45.3% for the first half of FY2025, up by 1.0 percentage point year-on-year, attributed to a decrease in the unit cost of raw materials[74][77]. Operating Performance - Operating profit fell by 11.0% to RMB 2,260,712 compared to RMB 2,540,711 in the previous year[19]. - Operating profit margin also decreased to 20.4%, down 3.0 percentage points from 23.4%[19]. - The Group's overall operating expenses increased by 10.6%, mainly due to higher marketing and promotion expenses for new channels and products[23]. - Distribution costs rose by 13.2% to RMB 1,549.9 million, representing 14.0% of revenue, an increase of 1.4 percentage points year-on-year, mainly due to higher advertising and promotion expenses[75][78]. - Administrative expenses increased by 8.3% to RMB 1,652.4 million, with the ratio to revenue rising by 0.9 percentage points to 14.9%, driven by a double-digit increase in staffing expenses[79][83]. Cash Flow and Liquidity - The Group generated a net cash inflow of RMB 1.3054 billion from operating activities in the first half of FY 2025, while financing activities resulted in a net cash outflow of RMB 1.2686 billion[95]. - Cash and bank balances increased significantly to RMB 11.4459 billion as of September 30, 2025, from RMB 8.3465 billion as of March 31, 2025[126]. - Cash generated from operations for the six months ended September 30, 2025, was RMB 1,829,929,000, a decrease of 13.5% compared to RMB 2,114,344,000 in 2024[133]. - Net cash flows generated from operating activities amounted to RMB 1,305,422,000, down from RMB 1,433,759,000 in the previous year, reflecting a decline of 8.9%[133]. - The Group's cash and bank balances stood at RMB 11,445,880 as of September 30, 2025, reflecting a strong liquidity position[166]. Inventory and Receivables - Inventory turnover days increased to 80 days, compared to 74 days in the previous year[19]. - Trade receivables turnover days increased to 14 days, up from 13 days[19]. - Trade receivables from third parties increased to RMB 1,044,830,000 as of September 30, 2025, compared to RMB 851,820,000 as of March 31, 2025, reflecting a rise of 22.67%[182]. - The ageing analysis of trade receivables showed that the amount within 60 days increased significantly to RMB 839,223,000 as of September 30, 2025, compared to RMB 490,631,000 as of March 31, 2025, a growth of 70.94%[186]. - The provision for impairment of trade receivables increased to RMB 103,370,000 as of September 30, 2025, compared to RMB 75,281,000 as of March 31, 2025, indicating a rise of 37.4%[182]. Capital Expenditure and Investments - Capital expenditure for the first half of FY 2025 was RMB 662.0 million, an increase of 84% from RMB 359.0 million in the same period of FY 2024[96]. - The Group's investment in Vietnam production capacity aims to mitigate tariff risks and enhance operational efficiency in overseas markets[36]. - The Group plans to continue optimizing channel structures and increasing investment in product R&D and innovation to sustain high-quality growth[49]. Strategic Initiatives and Market Performance - Revenue from emerging channels achieved solid double-digit growth, accounting for more than 10% of the Group's total revenue in the first half of FY2025[33]. - Revenue from new products launched in the past five years accounted for a mid-teen percentage of total revenue, becoming a key growth driver for the Group[21]. - Specialty snack retail revenue grew rapidly, accounting for about 15% of the Group's total revenue[27]. - The Group's strategic collaborations with the NBA and other brands enhanced brand exposure and significantly improved brand influence among target consumer groups[40]. - Future strategies will emphasize channel refinement and brand differentiation, with increased investment in R&D and innovative marketing activities to support sustainable growth[47].