有關2025年中期業績公告及公司 於2025年11月28日刊發之通函的補充公告 茲提述公司就截至2025年9月30日止六個月之未經審核中期業績而於2025年11月30 日刊發之公告（「2025年中期業績公告」），以及寶發控股有限公司（「本公司」）於 2025年11月28日刊發之通函（「該通函」）。除文義另有所指外，本公告所用大寫詞 彙與2025年中期業績公告及該通函所界定者具相同涵義。 本公告旨在就2025年中期業績公告中宣派股息的資料，以及該通函中有關澄清之 股份登記最後日期及股東名冊過戶登記冊暫停辦理時段提供補充資料。 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告全部或任何 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。 Polyfair Holdings Limited 寶發控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8532） 根據通函披露，公司謹此澄清股份登記截止日期應為2025年12月16日（星期二）， 股東名冊將於2025年12月17日（星期三）至2025年12月22日（星期一 ...

Financial Performance - The group's revenue for the six months ended September 30, 2025, was approximately HKD 11,264,000, a decrease of about 27% compared to the same period last fiscal year[7]. - Gross profit for the same period was approximately HKD 6,633,000, compared to HKD 3,148,000 in the previous fiscal year[8]. - Loss attributable to owners of the company for the six months was approximately HKD 17,104,000, an improvement from a loss of HKD 21,532,000 in the same period last year[8]. - Total comprehensive loss for the period was HKD 15,536,000, compared to HKD 18,427,000 in the previous year[12]. - Basic and diluted loss per share was HKD 0.77, compared to HKD 0.96 in the previous year[12]. - The company reported a net loss of approximately HKD 17,981,000 for the six months ended September 30, 2025, compared to a net loss of HKD 22,342,000 for the same period in 2024, representing a 19.5% improvement in losses year-over-year[21]. - The company reported a total loss before tax of HKD 17,981,000 for the six months ended September 30, 2025, compared to a loss of HKD 26,587,000 in the same period of 2024[31]. - The company recorded a total comprehensive loss of HKD 15,536,000 for the six months ended September 30, 2025, compared to HKD 36,034,000 for the same period in 2024[21]. Revenue Breakdown - Total revenue for the six months ended September 30, 2025, was HKD 11,264,000, a decrease of 27.5% compared to HKD 15,524,000 for the same period in 2024[29]. - Cryptocurrency business revenue was HKD 1,220,000, down 74.9% from HKD 4,850,000 in the previous year[29]. - Financial services revenue amounted to HKD 5,393,000, while sales of electrical appliances generated HKD 4,651,000, contributing to the overall revenue[31]. - The geographical revenue breakdown shows that revenue from Hong Kong was HKD 11,264,000, down from HKD 15,109,000 in 2024[34]. Assets and Liabilities - Non-current assets as of September 30, 2025, totaled HKD 4,760,000, an increase from HKD 2,622,000 as of March 31, 2025[13]. - Current assets decreased to HKD 84,542,000 from HKD 87,279,000 as of March 31, 2025[13]. - Current liabilities were HKD 96,297,000, down from HKD 171,001,000 as of March 31, 2025[15]. - The company's equity attributable to owners was HKD (92,865,000) as of September 30, 2025, compared to HKD (78,206,000) as of March 31, 2025[15]. - As of September 30, 2025, the company recorded current liabilities of approximately HKD 6,995,000 and total liabilities of HKD 97,473,000, compared to HKD 83,722,000 and HKD 81,937,000 respectively as of March 31, 2025[21]. - The company has a significant amount of HKD 81,238,000 in promissory notes payable to related parties, which are due on December 31, 2026[21]. - As of September 30, 2025, the group's net liabilities amounted to approximately HKD 97,473,000, an increase from HKD 81,937,000 as of March 31, 2025[63]. Cash Flow and Management - The company had cash and cash equivalents of approximately HKD 28,516,000 as of September 30, 2025, down from HKD 58,077,000 at the end of the previous period[19]. - The company reported a net cash outflow from operating activities of HKD 5,127,000 for the six months ended September 30, 2025, compared to HKD 9,037,000 for the same period in 2024[19]. - The company plans to implement strict monitoring of receivables and improve cash flow management to enhance financial stability[21]. - The company aims to strengthen cost control measures to achieve profitability and improve operational cash inflows[25]. - The company is in discussions with creditors to extend the maturity of its debts and seeks alternative debt or equity financing to meet cash flow needs[25]. Employee and Administrative Expenses - Employee benefits expenses totaled HKD 7,540,000, slightly up from HKD 7,090,000 in the previous year[39]. - The total number of employees as of September 30, 2025, was 21, down from 31 in 2024, with total compensation for the six months amounting to approximately HKD 7,540,000, compared to HKD 7,090,000 in 2024[68]. - The administrative expenses for the six months ended September 30, 2025, were HKD 16,300,000, nearly the same as HKD 13,900,000 for the same period last year[56]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the performance for the six months ending September 30, 2025[81]. - The company continues to adopt the code of conduct for securities trading by directors, with no violations detected during the review period[84]. - The company has applied and complied with all provisions of the corporate governance code as per GEM Listing Rules Appendix 15, with one exception regarding the attendance of the chairman at the annual general meeting[85]. - The board consists of four executive directors and three independent non-executive directors as of the report date[87]. Shareholder Information - Major shareholders include Fresh Success Investment Limited, holding 143,791,404 shares, representing 61.61% of the issued shares[69]. - The company has no provisions for preemptive rights in its articles of association or under Cayman Islands law[79]. - The company did not declare any interim dividends for the six months ended September 30, 2025, consistent with the previous year[41]. - The company did not engage in any significant acquisitions or disposals during the reporting period[67]. - There were no share buybacks, purchases, or sales by the company or its subsidiaries during the six months ending September 30, 2025[74]. - The company has not adopted any share option schemes during the six months ending September 30, 2025, and there were no unexercised options from previous schemes[73]. Financial Reporting Standards - The company applied new and revised Hong Kong Financial Reporting Standards during the reporting period, which did not have a significant impact on the financial position or performance[27]. - The direct costs decreased by approximately HKD 7,800,000 to about HKD 4,600,000, primarily due to the temporary reduction in cryptocurrency business[55]. - Non-current assets in Hong Kong increased to HKD 2,164,000 as of September 30, 2025, from HKD 1,212,000 as of March 31, 2025[35]. - The company continues to assess its ability to operate as a going concern, considering its cash flow forecasts and potential financing sources[24]. - The group has not established any foreign exchange hedging arrangements and monitors foreign exchange risks closely[65].

（於中華人民共和國註冊成立的股份有限公司） （股份代號：3330） 有關於截至二零一三年、二零一七年 及二零一八年十二月三十一日止年度 之年報的補充公告 茲提述靈寶黃金集團股份有限公司（「本公司」）於截至二零一三年（「二零一三年財 年」）、二零一七年（「二零一七年財年」）及二零一八年十二月三十一日（「二零一八年 財年」）止年度年報（「年報」）。除文義另有所指外，本公告所用詞彙與年報所定義者 應具相同涵義。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部 份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Lingbao Gold Group Company Ltd. 靈寶黃金集團股份有限公司 除年報所載資料外，本公司董事（「董事」）會（「董事會」）謹此提供以下補充資料。 根據上市規則附錄D2第24段（或當時上市規則附錄16）（視乎情況而定），本公司謹 此提供有關強山峰先生（「強先生」）（彼時非董事）自二零一三年八月六日至二零一七 年一月二十三日期間，以及王軍強先生（「王先生」）（彼時非董事）自二零一七年 ...

Company Branding - The company has changed its logo, which will be printed on all relevant company documents starting from the announcement date[3] Share Information - The weighted average number of shares for the year ending December 31, 2024, under the NBT Restricted Share Unit Plan is 2.21%[5] - All shares related to the rewards granted for the year ending December 31, 2024, have been issued and transferred to the trustee[5]

Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 52,590,000, representing a 29% increase from HKD 40,768,000 in the same period of 2024[3]. - Gross profit for the same period was HKD 13,508,000, up from HKD 5,851,000, indicating a significant improvement in profitability[3]. - The net profit attributable to the company's owners for the six months was HKD 2,483,000, compared to a loss of HKD 8,199,000 in the previous year[3]. - Operating cash flow for the six months was HKD 19,451,000, a substantial increase from HKD 5,243,000 in the prior year[9]. - The company achieved a total comprehensive income of approximately HKD 2.5 million for the six months ending September 30, 2025, compared to a loss of about HKD 8.2 million for the same period in 2024[43]. - The company's basic earnings per share for the six months ended September 30, 2025, was HKD 0.66, while it was a loss of HKD 2.18 for the same period in 2024[24]. Assets and Liabilities - Current assets decreased to HKD 35,425,000 from HKD 43,082,000, primarily due to a reduction in trade receivables[5]. - Total liabilities decreased to HKD 31,842,000 from HKD 42,660,000, reflecting improved financial stability[5]. - Non-current assets increased slightly to HKD 139,324,000 from HKD 139,080,000, showing stability in long-term investments[5]. - Trade receivables as of September 30, 2025, amounted to HKD 20,082,000, down from HKD 30,988,000 as of March 31, 2025, indicating a decrease in outstanding customer payments[28]. - The total trade and other payables as of September 30, 2025, were HKD 12,458,000, a slight increase from HKD 10,366,000 as of March 31, 2025, indicating a rise in liabilities[30]. Cash Flow and Financial Position - The company's cash and cash equivalents increased to HKD 17,131,000 from HKD 12,372,000, indicating a positive cash flow position[9]. - Cash and cash equivalents amounted to approximately HKD 17.1 million as of September 30, 2025, up from about HKD 12.4 million as of March 31, 2025[44]. - The company's debt-to-equity ratio was approximately 51.0% as of September 30, 2025, down from 56.9% as of March 31, 2025[44]. Operational Focus - The company continues to focus on providing construction equipment leasing services and trading of equipment and parts, indicating a commitment to its core business operations[10]. - The company continues to focus on providing construction equipment leasing services, including tower cranes and generators, as well as related services such as installation and maintenance[33]. - The company has acquired new motors and other necessary components to replace old temporary cranes, diversifying revenue sources and capturing market demand for tower crane rental services[67]. - The company retained two general technicians and one sales manager to support the operations of its tower crane rental business[67]. Employee and Governance - The company incurred employee costs of HKD 12,230,000 for the six months ended September 30, 2025, down from HKD 13,245,000 in 2024, reflecting a reduction in workforce expenses[17]. - The employee costs have decreased primarily due to a reduction in director remuneration during the reporting period[53]. - The company regularly conducts employee evaluations to assess performance and ensure competitive compensation[53]. - The board of directors believes that having Mr. Tang Hing Keung serve as both Chairman and CEO is beneficial for the group's operations and management[59]. - The company has maintained compliance with all corporate governance code provisions as of September 30, 2025, except for the separation of the roles of Chairman and CEO[61]. - Mr. Tang Hing Keung will step down as Chairman and CEO effective November 26, 2025, with Mr. Tang Ming Hei being promoted to these positions[60]. Risks and Compliance - The company faced foreign currency risks primarily from transactions denominated in currencies other than its functional currency, including RMB, EUR, and USD[49]. - The audit committee has reviewed the interim financial statements for the six months ending September 30, 2025, and confirmed compliance with applicable accounting standards and GEM listing rules[70]. - The company has adopted the trading standards for securities transactions as per GEM listing rules, and all directors confirmed compliance during the reporting period[65]. - There are various risks and uncertainties that may affect the company's financial condition, operating performance, and business outlook[68]. - The company has not disclosed any significant events that require disclosure after September 30, 2025, up to the report date[69]. Shareholding and Options - The group has a shareholding structure where Mr. Tang Hing Keung and Ms. Au Fung Yi hold 90% and 10% of the investment holding company, Hing Kee Limited, which owns approximately 31.9% of the company[54]. - Mr. Tang Hing Keung holds a beneficial interest in 120,000,000 shares, representing 31.9% of the total issued shares[57]. - Mr. Tang Ming Hei holds a beneficial interest in 128,132,000 shares, representing 34.1% of the total issued shares[54]. - The company has adopted a share option scheme to reward participants for their contributions to the group[53]. - The company has not granted any stock options since the adoption of the stock option plan, resulting in no unexercised stock options as of April 1, 2025, and September 30, 2025, with a total of 40,000,000 options available for grant[62]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or any member of the group during the six months ending September 30, 2025[64].

目錄 | 公司資料 | 02 | | --- | --- | | 財務摘要 | 03 | | 簡明綜合收益表 | 04 | | 簡明綜合全面收益表 | 05 | | 簡明綜合財務狀況表 | 06 | | 簡明綜合權益變動表 | 08 | | 簡明綜合現金流量表 | 09 | | 簡明綜合中期財務報表附註 | 10 | | 管理層討論及分析 | 25 | | 其他資料 | 30 | 公司資料 執行董事 鍾育升 （主席） 陳小影 （副主席） 鍾智傑 （行政總裁） 黃永彪 陳芳美 賴胤含 周維德（自二零二五年 六月三十日起獲委任） 湯宗翔 施志宏（自二零二五年 六月三十日起辭任） 薪酬委員會成員 獨立非執行董事 陳卓豪 譚潔雲 梁裕昌 孫允睿 公司秘書 胡敏芝 總辦事處及香港主要營業地點 香港新界 葵涌 和宜合道63號 麗晶中心B座9樓 核數師 安永會計師事務所 註冊公眾利益實體核數師 香港鰂魚涌 英皇道979號 太古坊1座27樓 審核委員會成員 陳卓豪 （主席） 譚潔雲 孫允睿 陳卓豪 （主席） 鍾育升 孫允睿 提名委員會成員 鍾育升 （主席） 陳卓豪 孫允睿 股份登記及過戶處香港分處 卓佳證券登記有限公司 香港 ...

Financial Performance - The group's revenue decreased from approximately HK$60,600,000 for the six months ended September 30, 2024, to approximately HK$58,900,000 for the six months ended September 30, 2025, a decline of about HK$1,700,000 or approximately 2.8%[11] - The group recorded a gross profit of approximately HK$35,300,000 for the six months ended September 30, 2025, down about 5.3% from HK$37,200,000 for the same period in 2024[11] - Profit attributable to owners of the company for the six months ended September 30, 2025, was approximately HK$3,200,000, a decrease of about 43.7% compared to HK$5,700,000 for the same period in 2024[11] - The total comprehensive income for the six months ended September 30, 2025, was approximately HK$3,157,000, down from HK$6,340,000 for the same period in 2024[12] - Basic and diluted earnings per share for the six months ended September 30, 2025, were HK$0.29, compared to HK$0.51 for the same period in 2024[12] - Segment profit for the same period was HKD 3,223, down 43.8% from HKD 5,734 in 2024[25] - The group's net profit decreased from approximately HKD 5,700,000 for the six months ended September 30, 2024, to approximately HKD 3,200,000 for the six months ended September 30, 2025, representing a decline of about HKD 2,500,000 or approximately 43.7%[58] - The group's profit margin fell from approximately 9.4% for the six months ended September 30, 2024, to approximately 5.5% for the six months ended September 30, 2025[58] Dividends - The board declared an interim dividend of HK$0.3 per share for the six months ended September 30, 2025, totaling approximately HK$3,400,000, compared to HK$0.4 per share and approximately HK$4,500,000 for the same period in 2024[11] - The board proposed a special dividend of HK$0.025 per share, totaling approximately HKD 28,000,000, to be paid to shareholders on October 31, 2025[10] - The company declared dividends of HKD 8,960,000 during the period, consistent with the previous year[15] - The company declared an interim dividend of HKD 0.003 per share for the six months ended September 30, 2025, totaling approximately HKD 3,400,000, down from HKD 4,500,000 for the same period in 2024[71] - The board declared a special dividend of HKD 0.026 per share, totaling approximately HKD 29,100,000, to be paid on May 9, 2025[72] - A second special dividend of HKD 0.025 per share, totaling approximately HKD 28,000,000, is proposed for shareholders on record as of October 17, 2025[72] Expenses - The group incurred selling and distribution expenses of approximately HK$15,553,000 for the six months ended September 30, 2025, compared to HK$15,764,000 for the same period in 2024[12] - Administrative and operating expenses increased to approximately HK$17,117,000 for the six months ended September 30, 2025, from HK$16,789,000 for the same period in 2024[12] - Total employee benefits expenses increased to HKD 16,388 from HKD 15,088 in the previous year, reflecting a rise of 8.6%[30] - Employee costs for the six months ended September 30, 2025, amounted to approximately HKD 16,400,000, an increase from HKD 15,100,000 for the same period in 2024[74] Revenue Sources - Retail store sales contributed HKD 40,992,000, down from HKD 46,772,000, reflecting a decline of 12.0% year-over-year[22] - Online store sales increased to HKD 16,996,000, up 47.7% from HKD 11,508,000 in the previous year[22] - Revenue from external sales for the six months ended September 30, 2025, was HKD 58,897, a decrease of 2.8% from HKD 60,600 in the same period of 2024[25] - Skincare products generated revenue of HKD 37,139, a decline of 9.7% from HKD 41,146 in 2024[27] Cash Flow and Assets - The net cash generated from operating activities for the six months was HKD 11,016,000, compared to HKD 12,060,000 in the prior year[17] - The company reported a net cash outflow of HKD 20,009,000 in cash and cash equivalents, compared to a decrease of HKD 5,737,000 in the same period last year[17] - The total assets less current liabilities amounted to HKD 101,819,000, a decrease from HKD 106,681,000 as of March 31, 2025[14] - The company's net asset value as of September 30, 2025, was HKD 98,509,000, down from HKD 104,312,000 as of March 31, 2025[14] - The company’s total non-current assets were HKD 78,132,000, a decrease from HKD 89,720,000 as of March 31, 2025[14] - The total non-current assets as of September 30, 2025, amounted to HKD 69,351, slightly down from HKD 69,713 as of March 31, 2025[28] - The company’s lease liabilities increased to HKD 9,209,000, up from HKD 8,862,000 in the previous period[14] - As of September 30, 2025, the group's current assets net value was HKD 23,700,000, an increase from HKD 17,000,000 as of March 31, 2025, resulting in a current ratio of 2.2[59] Governance and Compliance - The board and senior management hold significant interests in the company, with Ms. Yuan Mi Ming holding 786,530,000 shares, representing 70.23% of the company[77] - Prime Era Holdings, fully owned by Ms. Yuan Mi Ming, holds 786,530,000 shares, also representing 70.23% of the company[80] - The company has established a remuneration committee to review the compensation policies for employees and senior management based on performance and market practices[73] - The company has adopted the corporate governance code as per GEM Listing Rules, ensuring transparency and accountability in its operations[84] - The company deviated from the corporate governance code regarding the separation of roles between the Chairman and CEO, with the same individual holding both positions, which the board believes is in the best interest of the group[85] - An audit committee has been established, consisting of three independent non-executive directors, to oversee financial reporting and risk management[88] Other Information - The group operates nine retail stores under the "MI MING MART" brand, focusing on beauty and health products[48] - The group aims to enhance competitiveness through a rich product mix and expansion of e-commerce operations[49] - The company has no significant capital commitments or contingent liabilities as of September 30, 2025[66][67] - The company has no major investment or capital asset plans as of September 30, 2025[76] - There were no significant acquisitions or disposals of subsidiaries or associated companies during the six months ended September 30, 2025[75] - There were no stock options granted under the company's stock option plan as of the interim report date[74] - The company has a stock option plan approved on January 23, 2018, with a total of 112,000,000 shares available for grant as of September 30, 2025, representing approximately 10% of the issued ordinary shares at the time of listing[81] - All directors confirmed compliance with the trading standards set forth in GEM Listing Rules for the six months ending September 30, 2025[82] - There were no interests held by directors or controlling shareholders in any competing businesses during the six months ending September 30, 2025[83] - The company has no foreign currency hedging policy but monitors foreign exchange risks closely[61] - No purchase, sale, or redemption of the company's listed securities occurred during the six months ending September 30, 2025[86] - The ex-dividend date for the interim dividend is December 16, 2025, with the payment date set for January 9, 2026[87]

Financial Performance - For the six months ended 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[4]. - 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[4]. - 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 prior year[4]. - 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[4]. - Total revenue for the six months ended September 30, 2025, was HKD 391,294,000, representing an increase of 8.1% from HKD 362,101,000 in 2024[19]. - The company reported basic and diluted earnings per share of HKD 2.59, compared to a loss per share of HKD 0.12 in the previous year[6]. - The company reported a pre-tax profit of HKD 26,760,000 for the six months ended September 30, 2025, compared to HKD 1,411,000 for the same period in 2024[29]. - Profit attributable to owners of the company was approximately HKD 26.0 million in the first half of FY2026, a turnaround from a loss of about HKD 1.2 million in the first half of FY2025[55]. Revenue Breakdown - Revenue from network security products was HKD 154,791,000, slightly up from HKD 153,498,000 in 2024, while revenue from network security services increased to HKD 236,503,000 from HKD 208,603,000[19]. - The revenue from the Hong Kong market increased to HKD 366,266,000, up from HKD 330,042,000 in the previous year, reflecting a growth of 10.9%[27]. - The segment performance for digital assets was HKD 20,926,000, while cybersecurity product and service businesses generated HKD 236,503,000, contributing to a total segment performance of HKD 83,064,000[24]. Cash Flow and Assets - Operating cash flow for the six months ended September 30, 2025, was HKD 6,351,000, a decrease from HKD 35,818,000 in the previous year[12]. - The company’s cash and cash equivalents at the end of the period were HKD 82,540,000, down from HKD 47,456,000 a year earlier[12]. - The company incurred a net cash outflow of HKD 7,236,000 from financing activities, compared to HKD 43,159,000 in the previous year[12]. - Total assets as of September 30, 2025, were approximately HKD 638.99 million, compared to HKD 599.51 million as of March 31, 2025[7]. - Current liabilities were approximately HKD 479.28 million, slightly increased from HKD 475.47 million in the previous period[8]. - The company’s total equity as of September 30, 2025, was HKD 212,418,000, up from HKD 186,512,000 at the beginning of the period[10]. Expenses and Profitability - The company reported a decrease in administrative and other expenses to HKD 38,682,000 for the six months ended September 30, 2025, from HKD 35,498,000 in the previous year[24]. - Distribution and selling expenses decreased by approximately 9.4% from HKD 20.4 million in the first half of FY2025 to about HKD 18.5 million in the first half of FY2026[53]. - Administrative and other expenses increased by approximately 6.1% from HKD 36.5 million in the first half of FY2025 to about HKD 38.7 million in the first half of FY2026[54]. - Other income and losses netted approximately HKD 19.7 million in the first half of FY2026, compared to a loss of about HKD 10.9 million in the first half of FY2025[52]. Share and Incentive Plans - The total number of shares available for grant under the share incentive plan is capped at 10% of the total issued shares, amounting to 101,225,700 shares[72]. - A total of 8,320,000 shares were granted under the original share incentive plan prior to the first half of fiscal year 2026[75]. - No shares were granted, allocated, issued, vested, cancelled, or lapsed under the share incentive plan during the first half of fiscal year 2026[76]. - The share incentive plan aims to recognize contributions from eligible participants and attract suitable individuals for the company's growth[71]. - The stock option plan allows eligible participants to be granted options to purchase shares as an incentive for their contributions to the group[78]. - The total number of stock options granted under all share plans during the first half of the fiscal year 2026 was zero, indicating no new options were issued[84]. Corporate Governance - The audit committee consists of three independent non-executive directors who reviewed the financial statements for the first half of the fiscal year 2026[6]. - The company has adhered to corporate governance practices, except for a deviation regarding the separation of roles between the Chairman and CEO[9]. - There are no interests held by directors or controlling shareholders that compete directly or indirectly with the company's business[10].

Stock Options - Kinetix Systems Holdings Limited reported zero stock options available for grant under its stock option plan as of January 1, 2024, and December 31, 2024[3] Board Confirmation - The company’s board of directors confirmed that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[4] Compliance and Disclosure - The announcement is published in accordance with GEM listing rules to provide information about the company[4]

Revenue and Profitability - For the six months ended September 30, 2025, the group's revenue from travel-related products and services decreased by 18.7% to HKD 137.5 million, and gross profit fell by 36.2% to HKD 18 million compared to the same period in 2024[9]. - The revenue from travel packages and related services decreased by approximately 30% to about HKD 1.4 million, primarily due to a decline in sales of one-day tours in Japan[15]. - The total revenue for the six months ended September 30, 2025, was HKD 140.1 million, down from HKD 182.0 million in the same period of 2024[12]. - The gross profit for the same period was HKD 20.1 million, a decrease from HKD 31.8 million in 2024[12]. - The group’s revenue from the travel group segment was HKD 137.5 million, down from HKD 169.1 million in the previous year[13]. - The group’s gross profit from the travel group segment was HKD 18 million, down from HKD 28.2 million in the previous year[13]. - The group reported minimal revenue from free travel products, indicating low profitability due to intense competition among airlines and hotel booking platforms[14]. - The group reported a total loss before tax of HKD (3,815,000) for the six months ending September 30, 2025[70]. - The company reported a net loss attributable to owners of the company of HKD 3,788,000 for the period, compared to a loss of HKD 533,000 in the previous year[50]. - Basic and diluted loss per share for continuing operations was HKD 0.55, compared to HKD 0.03 in the same period last year[48]. Operational Performance - The group experienced a significant impact on travel bookings during a peak season (July and August) due to concerns over a predicted disaster in Japan, leading to a drop in customer confidence[10]. - The company's retail business revenue decreased from HKD 9.3 million to HKD 0.5 million for the six months ending September 30, 2025, due to the decision to terminate retail operations by March 17, 2025[16]. - Sales expenses decreased by 39.6% to approximately HKD 9.5 million for the six months ending September 30, 2025, primarily due to reduced advertising and employee welfare expenses[17]. - Administrative expenses decreased by 6.2% to approximately HKD 16.4 million for the six months ending September 30, 2025, mainly due to a reduction in the depreciation of right-of-use assets[18]. - The group's loss increased by 549% to approximately HKD 3.8 million for the six months ending September 30, 2025, compared to the same period in 2024[19]. - Operating loss increased to HKD 3,824,000 from HKD 52,000 in the previous year, indicating a significant decline in operational performance[47]. - Net cash flow from operating activities was negative at HKD 3,076,000, compared to a positive cash flow of HKD 9,905,000 in the prior year[52]. Financial Position - The group's cash and cash equivalents amounted to approximately HKD 72.5 million as of September 30, 2025, up from HKD 71.5 million as of March 31, 2025[19]. - The current ratio as of September 30, 2025, was 1.7 times, unchanged from March 31, 2025[19]. - The asset-liability ratio increased from 1.9% as of March 31, 2025, to 3.1% as of September 30, 2025, due to an increase in amounts payable to non-controlling shareholders[21]. - Total assets as of September 30, 2025, were HKD 110,887,000, a slight increase from HKD 108,363,000 as of March 31, 2025[49]. - Current liabilities increased to HKD 64,310,000 from HKD 62,573,000, reflecting a rise in financial obligations[49]. - The carrying amount of property, plant, and equipment decreased to HKD 2,005,000 as of September 30, 2025, from HKD 2,466,000 at the beginning of the period, a reduction of approximately 19%[85]. - Intangible assets decreased to HKD 203,000 as of September 30, 2025, from HKD 243,000 at the beginning of the period, reflecting a decrease of approximately 16%[86]. - The total accounts receivable as of September 30, 2025, was HKD 6,000, down from HKD 102,000 at the end of March 2025, representing a decline of approximately 94%[89]. - Accounts payable increased significantly to 7,422,000 HKD thousand from 5,044,000 HKD thousand, with 1 to 30 days overdue accounts rising to 4,280,000 HKD thousand[97]. Strategic Outlook - The group plans to continue exploring various opportunities to diversify its business portfolio and enhance future profitability[10]. - The group remains confident that tourism to Japan will eventually recover, maintaining a positive outlook on its outbound travel, sightseeing, and hotel business[10]. - The company aims to drive business performance towards profitability as outbound tourism continues to thrive and will seek diversification in other industries to expand revenue sources[34]. Corporate Governance and Compliance - The company has complied with all provisions of the corporate governance code as of September 30, 2025[44]. - The audit committee, consisting of three independent non-executive directors, reviews the company's financial information and internal control systems[46]. - The group did not incur any taxable profits in Hong Kong for the periods ended September 30, 2025, and 2024, resulting in no provision for Hong Kong profits tax[78]. - The group did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[84]. Shareholder Information - The company issued 136,119,000 new ordinary shares at a subscription price of HKD 0.0306 per share on August 22, 2025, raising approximately HKD 4 million to support promotional activities in the travel industry[19]. - Major shareholders include ASPECT, Inc. with 136,119,000 shares (16.67%) and Zonghengyou Investment Holdings Limited with 100,000,000 shares (12.24%) as of September 30, 2025[39]. - A total of 68,059,000 share options are available for grant under the 2024 Share Option Scheme as of September 30, 2025[37]. Risk Management - The group continues to face financial risks, including foreign exchange risk, credit risk, and liquidity risk, with no significant changes in risk management policies since the last year-end[61]. - The fair value of financial instruments is estimated based on observable market data, with no transfers between levels during the reporting period[64]. - The group’s financial assets and liabilities have short maturities, resulting in their carrying amounts being similar to fair values[62].