香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 根據不同投票權架構，我們的股本包括A類普通股及C類普通股。對於提呈我們股東大會的任 何決議案，A類普通股持有人每股可投一票，而C類普通股持有人則每股可投八票，惟法律或 《香港聯合交易所有限公司證券上市規則》或我們的組織章程大綱及細則另行規定者除外。股東 及有意投資者務請留意投資不同投票權架構公司的潛在風險。我們的美國存託股（每股美國存 託股代表一股A類普通股）於美國紐約證券交易所上市，股份代號為NIO。 蔚來集團 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9866） 2025年第三季度業績公告 我們謹此發佈我們截至 2025 年 第 三 季 度 的 未 經 審 計 財 務 業 績（「 2025 年 第三季度業績」）。2025 年第三季度業績可於香港聯合交易所有限公司網 站 www.hkexnews.hk 及本公司網站 ir.nio.com 查閱。 承董事會命 蔚來集團 創始人、董事 ...

Financial Performance - For the six months ending September 30, 2025, the company reported revenue of approximately HKD 391.3 million, an increase of 8.1% from HKD 362.1 million for the same period in 2024[7]. - Gross profit for the same period was approximately HKD 69.0 million, a decrease of 2.5% from HKD 70.7 million in the previous year[7]. - The company recorded a net profit attributable to shareholders of approximately HKD 26.0 million, compared to a net loss of HKD 1.2 million in the same period last year[7]. - Adjusted profit attributable to shareholders, excluding fair value changes, was approximately HKD 6.3 million, down from HKD 9.7 million in the previous year[7]. - The pre-tax profit for the period was approximately HKD 26.8 million, compared to HKD 1.4 million in the same period last year[9]. - Basic and diluted earnings per share for the period were HKD 2.59, compared to a loss per share of HKD 0.12 in the previous year[9]. - Total comprehensive income for the period was HKD 25.9 million, compared to a loss of HKD 1.0 million in the same period last year[9]. - The company reported a profit of HKD 25,988,000 for the six months ended September 30, 2025, compared to a profit of HKD 37,712,000 for the same period in 2024, showing a decline of about 30.9%[15]. - The company reported a profit attributable to owners of approximately HKD 26.0 million in the first half of FY2026, a turnaround from a loss of HKD 1.2 million in the same period of FY2025[58]. Revenue Breakdown - Revenue from cybersecurity products was HKD 154,791,000, slightly up from HKD 153,498,000, while cybersecurity services revenue increased to HKD 236,503,000 from HKD 208,603,000, marking a growth of 13.36%[22][27]. - Revenue increased by approximately 8.1% for the six months ended September 30, 2025, compared to the same period in 2024, driven by strong demand for cybersecurity products and services[47]. - Revenue from the Hong Kong market was HKD 366,266,000, an increase of 10.96% from HKD 330,042,000 in the previous year[30]. - The company’s digital asset financial services and investment business reported no revenue for the period, maintaining focus on cybersecurity offerings[27]. Expenses and Costs - The company’s administrative and other expenses increased to HKD 38.7 million from HKD 36.5 million in the previous year[9]. - The company incurred employee costs totaling HKD 44,342,000, which is a slight increase from HKD 43,858,000 in the prior period[32]. - Distribution and selling expenses decreased by approximately HKD 1.9 million or 9.4% to HKD 18.5 million, attributed to lower marketing staff costs[56]. - Administrative and other expenses increased by approximately HKD 2.2 million or 6.1% to HKD 38.7 million, mainly due to higher administrative staff costs and general operating expenses[57]. Assets and Liabilities - As of September 30, 2025, total assets amounted to HKD 638,994,000, an increase from HKD 599,505,000 as of March 31, 2025, representing a growth of approximately 6.6%[10]. - The company's net cash and cash equivalents at the end of the period were HKD 82,540,000, slightly down from HKD 82,662,000, indicating a decrease of 0.3%[15]. - The net current assets increased to HKD 159,711,000 from HKD 124,038,000, reflecting a significant rise of approximately 28.8%[10]. - Total equity increased to HKD 212,418,000 as of September 30, 2025, up from HKD 186,512,000 as of March 31, 2025, marking an increase of approximately 13.9%[11]. - Non-current liabilities decreased to HKD 216,790,000 from HKD 232,236,000, indicating a reduction of approximately 6.6%[11]. - The asset-to-liability ratio as of September 30, 2025, was approximately 14.9%, down from 20.4% as of March 31, 2025, indicating strong liquidity[61]. Foreign Exchange and Fair Value - The company experienced a foreign exchange loss of HKD 82, compared to a gain of HKD 146 in the previous year[9]. - The company reported a net foreign exchange gain of HKD 934,000 for the six months ended September 30, 2025, compared to a loss of HKD 689,000 in the previous year[31]. - Fair value gains from financial assets amounted to approximately HKD 19.7 million in the first half of FY2026, compared to a loss of HKD 10.9 million in the same period of FY2025[55]. - The strategic investment in Hong Kong Digital Asset Ex Limited (HKbitEX) contributed approximately HKD 17.7 million in fair value gains in the first half of FY2026, reversing a loss of HKD 11.2 million in the previous year[51]. Corporate Governance and Shareholder Information - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[96]. - All directors have confirmed compliance with the standard code of conduct during the first half of the 2026 fiscal year[97]. - The controlling shareholders have confirmed adherence to the non-competition agreement since the company's listing[95]. - The company is committed to establishing good corporate governance and has adopted sound governance practices, ensuring compliance with the corporate governance code[100]. - The board believes that the current phase is critical for the company's development, and the CEO is tasked with additional responsibilities to oversee new business areas beyond the core cybersecurity services[101]. - The board considers the dual role of the CEO and Chairman beneficial for efficient business planning and decision-making, despite a deviation from the corporate governance code[101]. Share Incentive Plan - The share incentive plan allows for the issuance of up to 101,225,700 shares, which is approximately 10% of the total issued share capital as of the mid-term report date[75]. - The share incentive plan is effective for a period of ten years from September 1, 2020, with about five years remaining[77]. - The total number of options available for issuance under the share option plan and any other plans of the company as of April 1, 2025, and September 30, 2025, is 101,225,700 shares, representing approximately 10% of the total issued share capital[85]. - During the first half of the fiscal year 2026, no options were granted, vested, exercised, cancelled, or lapsed under the share option plan[86]. - The exercise price of any options granted under the share option plan must not be less than the highest of the closing price on the date of grant or the average closing price over the preceding five trading days[83]. - The share option plan is valid for 10 years and will remain effective until March 22, 2027[85]. - The company has the discretion to set the minimum vesting period for the options granted under the share option plan[84]. - The share option plan allows for the granting of options to qualified participants, including directors, employees, and consultants[81]. - The total number of options granted to directors during the reporting period was 5,500,000[86]. Employee Information - The group has 126 employees as of September 30, 2025, an increase from 121 employees a year earlier[73]. - Employee costs for the first half of the 2026 fiscal year amounted to approximately HKD 44.3 million, compared to HKD 43.9 million in the same period of the previous year[73].

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 118,947,000, a decrease of 24.6% compared to HKD 157,836,000 for the same period in 2024[3] - Gross profit for the same period was HKD 25,341,000, down 16.1% from HKD 30,137,000 in 2024[3] - Net profit for the period was HKD 9,247,000, representing a decline of 16.0% from HKD 11,004,000 in the previous year[4] - Basic and diluted earnings per share decreased to HKD 2.31 from HKD 2.75, reflecting a 16.0% drop[4] - Operating profit before tax for the six months ended September 30, 2025, was HKD 11,717,000, a decrease of 16.2% from HKD 13,983,000 in the same period of 2024[8] - Revenue from wine products decreased to HKD 105,202,000, down 22.1% from HKD 134,875,000 in the prior year[15] - Profit for the period was approximately HKD 9.2 million, down from about HKD 11.0 million in the previous period, mainly due to a decline in group revenue[42] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 359,787,000, an increase from HKD 341,113,000 as of March 31, 2025[5] - Non-current assets totaled HKD 140,703,000, slightly down from HKD 141,934,000[6] - The company’s net asset value increased to HKD 343,469,000 from HKD 334,226,000, reflecting a growth of 2.4%[6] - The company’s cash and cash equivalents decreased significantly to HKD 4,527,000 from HKD 129,082,000, indicating a decline of 96.5%[5] - The company raised new bank borrowings amounting to HKD 120,711,000, compared to HKD 74,976,000 in the previous period, indicating a strategy to enhance liquidity[9] - The debt-to-equity ratio was approximately 42.4% as of September 30, 2025, compared to about 41.0% as of March 31, 2025[44] Inventory and Cash Flow - Inventory increased significantly to HKD 216,640,000 from HKD 121,214,000, indicating a rise of 78.8%[5] - Cash flow from operating activities showed a net outflow of HKD 127,171,000, compared to a net inflow of HKD 2,321,000 in the previous year, indicating a significant decline in operational cash generation[9] - The increase in inventory was HKD 95,426,000, significantly higher than HKD 31,570,000 in the previous year, indicating potential overstocking issues[9] - Cash and cash equivalents at the end of the period were HKD 4,527,000, a decrease from HKD 129,082,000 at the beginning of the period[9] Expenses and Cost Management - Cost of sales decreased by approximately 26.7% from about HKD 127.7 million to approximately HKD 93.6 million during the same period, directly related to the decline in revenue[34] - Gross profit fell by approximately 15.9% from about HKD 30.1 million to approximately HKD 25.3 million, with gross margins of approximately 19.1% and 21.3% for the respective periods[35] - Selling and distribution expenses decreased from approximately HKD 6.9 million to about HKD 5.8 million, attributed to ongoing cost reduction measures despite some offset from increased depreciation[38] - The total employee costs for the period were approximately HKD 4.354 million, down from HKD 4.756 million in the previous period[22] - Administrative expenses decreased from approximately HKD 5.9 million to about HKD 5.4 million, primarily due to reduced depreciation and ongoing cost-cutting measures[39] Financing and Governance - The company reported a financing cost of HKD 3,171,000, down 32.1% from HKD 4,673,000 in the previous year[3] - Financing costs reduced from approximately HKD 4.7 million to about HKD 3.2 million, mainly due to lower bank loan interest compared to the same period last year[40] - Income tax expenses decreased by approximately 17.1% from about HKD 3.0 million to approximately HKD 2.5 million, attributed to a decrease in estimated taxable profits[41] - The company has implemented a prudent treasury policy to manage credit risk and ensure liquidity[45] - The company has adopted a code of conduct for securities trading, confirming compliance by all directors during the period[71] - The company has adhered to all applicable principles of the corporate governance code, except for the separation of roles between the chairman and CEO[72] Shareholder Information - As of September 30, 2025, the company has issued a total of 400,000,000 shares, with Ms. Wang Zilu holding 280,000,000 shares, representing a 70% ownership stake[56] - The company did not declare or recommend any dividends for the current period, consistent with the previous period[26] - The total number of employees remained at 33, with total employee benefits expenses of approximately HKD 4.4 million for the period[54] - The company has not purchased, sold, or redeemed any of its listed securities during the period up to the announcement date[69] - There are no interests held by directors or major shareholders in any competing businesses that could lead to conflicts of interest[70] Business Development - The company is actively exploring new business opportunities, including promotional and marketing services for alcoholic beverage brands and products[32] - The company is actively seeking additional business opportunities, including expanding its alcoholic beverage product range and providing promotional services for brand owners[55] - The company has no significant investments or acquisitions during the reporting period[48][49]

Financial Performance - Total net revenue for Q3 2025 was RMB 2,156.2 million (USD 302.9 million), an increase of 4.8% year-over-year from RMB 2,057.0 million[9]. - Operating loss narrowed significantly to RMB 25.6 million (USD 3.6 million), compared to RMB 114.5 million in the same period last year, with an operating loss margin of 1.2% versus 5.6% in Q3 2024[9]. - Net loss attributable to ordinary shareholders was RMB 107.1 million (USD 15.0 million), compared to RMB 88.1 million in Q3 2024[13]. - Non-GAAP net loss attributable to ordinary shareholders was RMB 40.2 million (USD 5.7 million), improving from RMB 66.8 million in the same quarter last year[13]. - Basic and diluted net loss per American depositary share was RMB 1.85 (USD 0.26), compared to RMB 1.48 in Q3 2024[13]. - The company reported a total operating expense of RMB 2,181,851 for the three months ended September 30, 2025, compared to RMB 2,171,502 for the same period in 2024[52]. - Cumulative losses as of September 30, 2025, totaled RMB 895,928, compared to RMB 691,785 as of December 31, 2024[50]. E-commerce Business - Adjusted operating profit for the e-commerce business was RMB 28.1 million (USD 3.9 million), improving from an adjusted operating loss of RMB 29.8 million in Q3 2024[13]. - E-commerce service revenue increased by 6.3% to RMB 1,390 million, driven by a 15.5% increase in online store operation revenue[15]. - E-commerce product sales revenue was RMB 413.4 million (USD 58.1 million), a decrease of 8.9% from RMB 454.0 million year-over-year, primarily due to declines in small appliances and health products[18]. - E-commerce business net revenue for Q3 2024 was RMB 1,757,320, increasing to RMB 1,798,654 in Q3 2025, representing a growth of approximately 2.2%[32]. - Adjusted operating loss for the e-commerce business improved from RMB 29,781 in Q3 2024 to a profit of RMB 28,090 in Q3 2025[32]. Brand Management Business - Brand management business revenue grew by 20% year-over-year, reaching RMB 396.0 million, with a total of 171 offline stores managed as of Q3 2025[16]. - Adjusted operating loss for the brand management business improved by 30% year-over-year to RMB 38.7 million (USD 5.4 million) from RMB 55.3 million[13]. - Brand management product sales revenue increased by 19.8% to RMB 395.2 million (USD 55.5 million) from RMB 329.8 million in the same period last year, attributed to improved marketing initiatives for the Gap brand[18]. - Brand management segment net revenue rose from RMB 330,605 in Q3 2024 to RMB 395,961 in Q3 2025, reflecting an increase of about 19.8%[32]. Strategic Initiatives - The company reported a strategic transformation that has led to improved operational efficiency and financial performance in both e-commerce and brand management sectors[6]. - The company plans to continue optimizing product offerings and marketing strategies to drive future growth in both e-commerce and brand management segments[18]. - The company has a strong focus on sustainable business development and technology-driven solutions[42]. Assets and Liabilities - As of December 31, 2024, the total assets of Baozun e-Commerce Co., Ltd. amounted to RMB 10,207,001,000, an increase from RMB 9,790,022,000 as of September 30, 2025[47]. - Total liabilities were reported at RMB 4,426,422,000 as of December 31, 2024, a decrease from RMB 4,268,378,000 as of September 30, 2025[48]. - The company's cash and cash equivalents stood at RMB 1,289,323,000 as of December 31, 2024, compared to RMB 1,125,514,000 on September 30, 2025[47]. - The net accounts receivable was RMB 2,033,778,000 as of December 31, 2024, showing a slight increase from RMB 1,970,416,000 on September 30, 2025[47]. Conference and Reporting - The company will hold an earnings conference call on November 25, 2025, at 6:30 AM EST[34]. - The company utilizes non-GAAP financial measures to assess business performance, including adjusted operating profit and net profit[36]. - The adjusted operating profit margin is defined as the adjusted operating profit as a percentage of total net revenue[37]. - The company emphasizes that non-GAAP measures provide useful information for investors to understand and evaluate its current operating performance and future prospects[38].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 SH GROUP (HOLDINGS) LIMITED 順 興 集 團（ 控 股 ）有 限 公 司 （ 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ） （股份代號：1637） 截至二零二五年九月三十日止六個月 中期業績公告 財務摘要 （截至二零二五年九月三十日止六個月） – 1 – – 收益約為1億6,460萬港元（二零二四年：3億3,000萬港元） – 毛利約為280萬港元（二零二四年：毛損120萬港元） – 本公司擁有人應佔期內虧損約為390萬港元（二零二四年：870萬港元） – 每股基本虧損約為每股1.0港仙（二零二四年：每股2.2港仙） 中期業績 順興集團（控股）有限公司（「本公司」）董事（「董事」）會（「董事會」）呈報本公司及其附屬公 司（統稱「本集團」）截至二零二五年九月三十日止六個月（「本期間」）的未經審核簡明綜合 中期業績，連同截至二零二四年九月三十日止六個月（「上一期間」）的 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ASIA COMMERCIAL HOLDINGS LIMITED 冠亞商業集團有限公司 * （於百慕達註冊成立之有限公司） （股份代號：104） 截至二零二五年九月三十日止六個月 未經審核中期業績公告 財務摘要 | 二零二五年 | 截至九月三十日止六個月 二零二四年 | 變動 | | --- | --- | --- | | 千港元 | 千港元 | 百分比 | | （未經審核） | （未經審核） | | 經營 | 歸屬於本公司持有人之溢利 | 32,804 | 35,816 | (8) | | --- | --- | --- | --- | | 營業收入 | 308,764 | 337,849 | (9) | 每股盈利 | | | | 於二零二五年 | 於二零二五年 | | | --- | --- | --- | | 九月三十日 | 三月三十一日 | 變動 | | 百萬港元 | 百萬港元 | 百分比 | | ...

Echo International Holdings Group Limited 毅 高（國際）控股集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8218） 截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM之 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 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 以 及 聯 交 ...

Financial Performance - Revenue for the six months ended September 30, 2025, was RMB 68,818,000, a decrease of 34% compared to RMB 104,254,000 for the same period in 2024[3] - Profit before tax for the same period was RMB 18,967,000, down 56% from RMB 42,706,000 in 2024[3] - The company's net profit attributable to equity holders was RMB 10,042,000, a decline of 51% from RMB 20,575,000 in the previous year[3] - The basic and diluted earnings per share decreased to RMB 2.0, down 51% from RMB 4.1 in 2024[3] - The total comprehensive income for the period was RMB 10,414,000, down from RMB 20,642,000 in the previous year[10] - The company reported a gross profit of RMB 37,626,000, a decrease from RMB 63,641,000 in the same period last year[6] - The total tax expense for the six months ended September 30, 2025, was RMB 8,925,000, compared to RMB 22,131,000 for the same period in 2024[23] - The company issued a profit warning indicating that profit attributable to equity holders is expected to decline by approximately 50% compared to the previous year, primarily due to fluctuations in the real estate market and a decrease in the fair value of investment properties[33] Asset and Equity Position - Non-current assets as of September 30, 2025, totaled RMB 313,395,000, an increase from RMB 273,939,000 as of March 31, 2025[4] - Current assets amounted to RMB 1,073,718,000, slightly down from RMB 1,080,029,000 as of March 31, 2025[4] - Total equity as of September 30, 2025, was RMB 870,559,000, compared to RMB 860,145,000 as of March 31, 2025[5] - The company recorded a fair value loss of RMB 1,973,000 due to the transfer of certain shops from inventory to investment properties, reflecting a strategic adjustment in asset allocation[31] - As of September 30, 2025, the company's land reserves were approximately 226,292 square meters, down from 230,791 square meters as of March 31, 2025[31] - The net asset liability ratio was not applicable as of September 30, 2025, due to a net cash position[40] Project Developments - The company delivered 33 units from the Dongguan Jiahui Haoting Phase IV residential project, generating revenue of RMB 56,214,000, with an average selling price of approximately RMB 18,900 per square meter[31] - The company also delivered 5 units from the Dongguan Jiahui Haoting Phase V residential project, generating revenue of RMB 12,328,000, with an average selling price of approximately RMB 19,100 per square meter[31] - The group has initiated a night tour project at Longfeng Mountain Villa, expected to generate stable revenue upon full operation in 2025[36] - The group signed a contract with Shenzhen Guangying Century Technology Co., Ltd. to enhance the cultural tourism experience at Longfeng Mountain Villa[35] Strategic Initiatives - The group aims to diversify its asset allocation to improve overall financial performance amid reliance on mainland real estate development[34] - The group plans to optimize project design to meet regulatory requirements and address climate change impacts on real estate development[10] - The group is committed to prudent cash management policies to seize future growth opportunities[39] - The group has a strong cash position to support current operations and potential strategic investments[41] Corporate Governance - The group has established a performance-based bonus system to incentivize high-performing employees[47] - The company has adopted strict procedures to regulate directors' securities trading in compliance with the Listing Rules Appendix C3[51] - All directors have confirmed compliance with the standards set forth in the Standard Code during the relevant period[51] - The interim report for the period ending September 30, 2025, will be published on the Stock Exchange and the company's website as required by the Listing Regulations[52] - The executive directors of the company include Mr. He Wenzhong, Mr. He Weihang, Ms. Yao Yuefeng, and Mr. Zhu Nianhua[53] - The non-executive directors include Mr. He Zhuohui and Ms. He Manrao[53] - Independent non-executive directors consist of Mr. Cai Weixuan, Mr. Ren Zhongcheng, and Ms. Liang Wenli[53] Dividend Policy - The company did not recommend any interim dividend for the six months ended September 30, 2025, consistent with the previous year[29]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公佈全部 或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 MOBICON GROUP LIMITED 萬保剛集團有限公司 * （於百慕達註冊成立之有限公司） （股份代號：1213） 截至二零二五年九月三十日止六個月之中期業績公佈 業 績 萬 保 剛 集 團 有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）謹 此 公 佈 本 公 司 及 其 附 屬 公 司 （「本 集 團」）截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月（「該 期 間」）之 未 經 審 核 中 期 綜 合 業績，連同二零二四年同期之比較數字。該等未經審核中期業績並未經本公司核 數師審核，惟已經由本公司之審核委員會審閱。 * 僅供識別 – 1 – – 2 – 簡明綜合中期全面收益表 截至二零二五年九月三十日止六個月 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 | ...

Financial Performance - For the six months ended September 30, 2025, the group's revenue was approximately HKD 160.08 million, a decrease of about HKD 40 million or 20.0% compared to HKD 200.08 million for the same period in 2024[3] - The loss attributable to the company's owners for the six months ended September 30, 2025, was approximately HKD 0.3 million, compared to a loss of HKD 0.6 million for the same period in 2024[3] - Total revenue for the six months ended September 30, 2025, was HKD 160,080,000, a decrease of approximately HKD 40,000,000 or 20.0% compared to HKD 200,076,000 for the same period in 2024[28] - The group recorded a loss of HKD 335,000 for the six months ended September 30, 2025, compared to a loss of HKD 630,000 for the same period in 2024[20] - The company's basic and diluted loss per share for the six months ended September 30, 2025, was HKD 0.08, compared to HKD 0.16 for the same period in 2024[4] Assets and Liabilities - Total non-current assets as of September 30, 2025, amounted to HKD 132.07 million, down from HKD 156.29 million as of March 31, 2025[5] - Current assets totaled HKD 322.59 million as of September 30, 2025, compared to HKD 314.99 million as of March 31, 2025[5] - The total liabilities for current liabilities were HKD 262.67 million as of September 30, 2025, slightly down from HKD 263.85 million as of March 31, 2025[6] - The total equity as of September 30, 2025, was HKD 147.37 million, slightly down from HKD 147.56 million as of March 31, 2025[6] - Trade receivables at the end of the reporting period were HKD 2,695,000, down from HKD 3,888,000 as of March 31, 2025[22] - Trade payables at the end of the reporting period totaled HKD 9,376,000, an increase from HKD 6,336,000 as of March 31, 2025[24] Revenue Breakdown - Revenue from external customers in Hong Kong was HKD 158.85 million for the six months ended September 30, 2025, compared to HKD 195.04 million for the same period in 2024[12] - Revenue from external customers in Mainland China was HKD 1.23 million for the six months ended September 30, 2025, down from HKD 5.04 million for the same period in 2024[12] - Revenue from medical consultation services remained stable at HKD 2,000 for both periods, while revenue from skincare products decreased from HKD 29,336,000 to HKD 18,477,000[15] Expenses and Cost Management - Employee costs decreased by approximately HKD 12.1 million or 16.3% to about HKD 62.1 million during the review period, primarily due to operational efficiency improvements[30] - Property rental and related expenses reduced by approximately HKD 4.1 million or 14.2% to about HKD 24.8 million, mainly due to optimized sales network and better lease terms[31] - Other net expenses decreased by approximately HKD 12.4 million or 24.1% to about HKD 39 million, attributed to enhanced operational efficiency and effective cost control[33] - The cost of inventory and consumables for the current and prior periods was approximately HKD 22,110,000 and HKD 25,400,000, representing 13.8% and 12.7% of total revenue, respectively[29] - Depreciation of property, plant, and equipment was HKD 13,873,000 for the six months ended September 30, 2025, down from HKD 19,259,000 in 2024[16] Dividends and Shareholder Returns - The board did not declare an interim dividend for the six months ended September 30, 2025, consistent with the previous period[3] - The group did not declare any interim dividends for the six months ended September 30, 2025, consistent with the previous year[19] Strategic Outlook - The group plans to continue enhancing operational efficiency and resource allocation to maintain stability and growth amid economic uncertainties[25] - The group aims to leverage its brand strength and service quality to provide better customer experiences and greater value for stakeholders in the upcoming period[27] - The company plans to adopt a cautious and prudent operational strategy in response to structural changes in the consumer market[49] Financial Health - As of September 30, 2025, the company maintained a healthy financial position with cash and cash equivalents of approximately HKD 186.6 million[38] - The debt-to-equity ratio as of September 30, 2025, was approximately 1.7%, down from 4.0% as of March 31, 2025[43] - The company has no significant contingent liabilities or guarantees as of September 30, 2025[41] - The company has not made any significant investments or acquisitions during the review period[46] Corporate Governance - The audit committee has been established in accordance with the listing rules and corporate governance code, consisting of three independent non-executive directors[54] - The audit committee is chaired by Mr. Zheng Yuhua, who has suitable accounting and financial management expertise[54] - The financial information for the review period has not been reviewed by the independent auditor but has been reviewed by the audit committee[54] - The board of directors includes three executive directors and three independent non-executive directors as of the announcement date[55] Workforce - The company employed a total of 255 employees as of September 30, 2025, compared to 242 employees in the previous year[47]