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份內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 截至二零二五年九月三十日止六個月之中期業績公佈 損益表重點 截至九月三十日止六個月 二零二五年 二零二四年 百萬港元 百萬港元 收益 －半導體分銷 845.3 606.5 －消費類產品及產品採購業務 11.9 22.7 －其他 – 0.1 857.2 629.3 除利息、稅項、折舊及非現金項目前溢利╱（虧損） －公司 (16.7) (13.9) －創投 (8.9) (2.1) －半導體分銷 97.3 88.6 －消費類產品及產品採購業務： 銷售及分銷費用 (5.1) (12.0) 經營虧損 (5.0) (2.3) (10.1) (14.3) －其他 (0.2) (0.1) 61.4 58.2 折舊 (0.9) (0.8) 本公司擁有人應佔期內溢利 62.4 56.3 – 1 – AV Concept Holdings Limited（「本公司」）董事會（「董事會」或「董事」）謹此宣佈本公司及其附屬公司 ...

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 1,770,284, an increase of 3.2% compared to HKD 1,716,129 for the same period in 2024[3] - Gross profit for the period was HKD 416,092, representing a slight increase from HKD 413,499 in the previous year[3] - Net profit for the period was HKD 11,188, down 38.7% from HKD 18,274 in the same period last year[4] - Basic and diluted earnings per share decreased to HKD 3.4 from HKD 5.3 year-on-year[3] - Total comprehensive income for the period was HKD 22,678, compared to HKD 30,669 in the previous year[4] - Total revenue for the six months ended September 30, 2025, was HKD 1,770,284,000, an increase from HKD 1,716,129,000 in the same period of 2024, representing a growth of approximately 3.2%[12][17] - Total other income for the six months ended September 30, 2025, was HKD 6,550,000, a decrease of 20.5% compared to HKD 8,243,000 for the same period in 2024[21] - The net fair value gain on financial assets recognized through profit or loss for the six months ended September 30, 2025, was HKD 2,142,000, down from HKD 6,727,000 in 2024, representing a decline of 68.1%[21] - The total tax expense for the six months ended September 30, 2025, was HKD 13,733,000, an increase of 20.5% compared to HKD 11,407,000 in 2024[24] - Basic earnings per share for the six months ended September 30, 2025, were HKD 0.0343, down from HKD 0.0532 in 2024, reflecting a decrease of 35.5%[29] Assets and Liabilities - Non-current assets totaled HKD 1,360,512, a decrease from HKD 1,372,507 as of March 31, 2025[5] - Current assets amounted to HKD 1,764,950, down from HKD 1,800,258 as of March 31, 2025[5] - Total liabilities increased to HKD 1,621,796 from HKD 1,558,899, indicating a rise in current liabilities[5] - The company's equity attributable to owners was HKD 1,196,714, slightly down from HKD 1,197,129[6] - The total assets for the company as of September 30, 2025, were HKD 3,125,462,000, with segment assets of HKD 1,431,703,000 in Hong Kong, HKD 717,784,000 in mainland China, and HKD 450,647,000 in Japan[14] - The total liabilities for the company were HKD 1,908,245,000, with segment liabilities of HKD 477,626,000 in Hong Kong, HKD 279,908,000 in mainland China, and HKD 277,929,000 in Japan[14] - Trade receivables as of September 30, 2025, totaled HKD 620,098,000, an increase of 4.7% from HKD 592,404,000 as of March 31, 2025[31] - Trade payables as of September 30, 2025, amounted to HKD 261,687,000, a slight increase from HKD 258,832,000 as of March 31, 2025[32] - The group has a cash and cash equivalents balance of HKD 524,044,000 as of September 30, 2025[50] - The total bank credit available to the group is HKD 2,747,169,000, with 45% already utilized[50] - The net debt-to-equity ratio stands at 59% as of September 30, 2025[50] Market and Sales Performance - Sales to external customers in Hong Kong amounted to HKD 855,306,000, while sales in mainland China were HKD 295,484,000, and Japan contributed HKD 619,494,000[12][17] - The adjusted profit before tax for the Hong Kong segment was HKD 48,658,000, while the mainland China segment reported a loss of HKD 2,939,000, and Japan generated a profit of HKD 1,642,000[12][13] - Profit attributable to equity owners for the same period was HKD 13,080,000, down from HKD 20,462,000 in 2024, primarily due to weak consumer confidence in Hong Kong and mainland China[36] - Revenue from the Hong Kong region was HKD 855,306,000, accounting for 48% of total revenue, while mainland China contributed HKD 295,484,000 (17%) and Japan contributed HKD 619,494,000 (35%)[36] Operational Highlights - The company reported a foreign exchange gain of HKD 8,153 from the translation of overseas operations[4] - The company recognized a total of HKD 2,583,000 in revenue from the sale of goods during the reporting period, compared to HKD 2,118,000 in the previous year[18] - The company incurred a total depreciation and amortization expense of HKD 25,304,000, with HKD 12,537,000 from Hong Kong, HKD 8,524,000 from mainland China, and HKD 4,243,000 from Japan[12][13] - The company reported a total of HKD 1,359,000 in inventory write-downs, with HKD 5,000 from Hong Kong and HKD 1,354,000 from mainland China[12][13] - The company declared an interim dividend of HKD 0.03 per share for the six months ended September 30, 2025, consistent with the dividend declared in 2024[34] - The financing costs for the six months ended September 30, 2025, were HKD 24,474,000, a decrease of 7.1% from HKD 26,344,000 in 2024[21] Strategic Initiatives - The company plans to continue expanding its market presence and developing new products to enhance revenue growth in the upcoming periods[12] - The company launched new products and marketing activities to mitigate the impact of challenging business conditions, demonstrating strong brand foundation and competitive pricing strategies[36] - The flagship store "Four Seasons Food Experience Hall" in Causeway Bay, covering over 20,000 square feet, has been fully operational, enhancing product promotion and consumer engagement[38] - The company continues to explore supplier opportunities and expand product sources, focusing on high-quality food products from Japan, including eggs, beverages, dairy products, and rice[39] - The group emphasizes food safety and quality, having received multiple international certifications such as HACCP, ISO 9001, and ISO 22000, ensuring compliance with international standards[40] - The acquisition of Miyata Company has strengthened the sales platform across mainland China, Hong Kong, and Japan, enhancing sales capabilities and expanding the customer base[43] - The company introduced new flavors and products, such as the OHAYO caramel pudding ice cream and new flavors of Calbee chips, to cater to evolving consumer preferences[38] - The retail and dining segments continue to thrive, with popular establishments like "Four Seasons • Delight" Japanese cuisine and "Gong De Lin" Shanghai vegetarian restaurant receiving positive consumer feedback[41] - The group aims to leverage its strong market presence in Hong Kong, mainland China, and Japan to enhance its business growth and product offerings[46] - The group is actively expanding its market presence in the Greater Bay Area, which has a population exceeding 87 million and a GDP of over RMB 14 trillion[48] Corporate Governance - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the six months ending September 30, 2025[55] - The audit committee consists of three independent non-executive directors, who have reviewed the unaudited interim financial report for the six months ending September 30, 2025[56] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, containing information as required by listing rules[57] - The board expresses gratitude to shareholders, business partners, and employees for their continued support[58] - The board of directors includes five executive directors and three independent non-executive directors as of the announcement date[59] - The chairman of the board is Mr. Dai Defeng, who holds multiple honors[60] Awards and Recognition - The group received multiple awards for its brand performance, including the "2025 Excellence Award (Market Leap)" from Haribo and "Annual Supreme Brand" from Wellcome Supermarket[45] - The group is committed to corporate social responsibility, focusing on community service and sustainable development initiatives[45] - The group plans to introduce new flavors and styles to maintain its leadership position in the food industry[46] Workforce - The group employs approximately 2,500 staff members as of September 30, 2025[51] - The group purchased a total of 72,000 shares between August and October 2025, with a total cost of HKD 181,800[52]

Financial Performance - The company reported revenue of HKD 10,686,000 for the six months ended September 30, 2025, a decrease of 6.6% compared to HKD 11,442,000 in the same period of 2024[4] - Gross profit for the same period was HKD 8,241,000, down from HKD 8,702,000, reflecting a gross margin of approximately 77.0%[4] - The company incurred a loss before tax of HKD 4,766,000, an improvement of 27.3% compared to a loss of HKD 6,556,000 in the prior year[4] - Basic and diluted loss per share was HKD 1.32, compared to HKD 1.81 for the same period last year[4] - The group recorded a net loss of HKD 4,766,000 for the six months ended September 30, 2025[14] - The company reported a loss attributable to equity holders of HKD 4,766,000 for the six months ended September 30, 2025, an improvement from a loss of HKD 6,556,000 in 2024[33] - Administrative expenses decreased to approximately HKD 10.6 million from about HKD 12.3 million, a reduction of approximately 14.3%[60] - Financial expenses for the reporting period were HKD 2.2 million, slightly down from HKD 2.4 million in the previous year[61] 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[5] - Current liabilities increased to HKD 61,727,000 from HKD 59,504,000, leading to a net current liability position of HKD 51,911,000[5] - As of September 30, 2025, the group's current liabilities net value was HKD 51,911,000[14] - Trade payables rose significantly to HKD 1,663,000 as of September 30, 2025, compared to HKD 450,000 as of March 31, 2025, marking a 270.22% increase[37] - Total bank borrowings amounted to HKD 44,097,000 as of September 30, 2025, down from HKD 45,601,000 as of March 31, 2025, a decrease of 3.31%[39] - Lease liabilities' present value was HKD 7,072,000 as of September 30, 2025, down from HKD 8,080,000 as of March 31, 2025, a decrease of 12.45%[42] Cash Flow and Financing - The company reported cash and cash equivalents of HKD 1,360,000 at the end of the reporting period, down from HKD 1,473,000 at the beginning of the period[8] - Operating cash flow for the six months was HKD 1,077,000, a decrease from HKD 1,749,000 in the previous year[8] - The company has new bank borrowings of HKD 2,000,000 during the period, contributing to financing activities[8] - The group has implemented cost control measures to reduce operating costs and improve cash flow management[16] - The group believes it can renew and maintain existing bank financing and secure new sources of financing[16] - A related company has committed to providing ongoing financial support for at least twelve months from the date of approval of the unaudited interim consolidated financial statements[16] Revenue Sources - Tea product sales for the six months ended September 30, 2025, were HKD 10,686,000, a decrease of 6.6% from HKD 11,442,000 in the same period of 2024[21] - Total other income for the six months ended September 30, 2025, was HKD 283,000, significantly up from HKD 16,000 in 2024, driven by miscellaneous income and recovery of costs[25] Shareholder Information - At the end of the reporting period, directors and senior executives held a total of 270,000,000 shares, representing approximately 74.66% of the company's ordinary shares[81] - Major shareholders include Profit Ocean with 270,000,000 shares (74.66%) and Mr. Huang Dekming with 18,135,000 shares (5.01%) of the company[84] - The company has adopted a share option scheme to incentivize or reward selected eligible participants for their contributions to the group[87] - The company granted options to eligible participants under the share option scheme for a total of up to 32,300,000 ordinary shares, which were exercisable until May 31, 2023[89] Governance and Compliance - The board is responsible for providing leadership and oversight to promote the long-term success of the group through the formulation of strategic objectives and policies, as well as continuous monitoring and evaluation of operational activities and financial performance[78] - The audit committee, consisting of all independent non-executive directors, oversees the financial reporting process, risk management, and internal control systems[91] - The audit committee reviewed the unaudited condensed consolidated results for the reporting period and confirmed compliance with applicable accounting standards and GEM listing rules[92]

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，並表明概不就因本公佈全部或任何部分內容而產生 或因依賴該等內容而引致的任何損失承擔任何責任。 - 1 - • 收益約為717.0百萬港元（2024年同期：約854.1百萬港元），減少約16.1% • 毛利率1 約為74.3%（2024年同期：約71.7%)，增加約2.6個百分點 • 本公司擁有人應佔虧損約為34.6百萬港元（2024年同期：本公司擁有人應佔虧損約 為40.6百萬港元） • 每股基本虧損2 為2.66港仙（2024年同期：每股基本虧損3.13港仙） • 董事會議決不宣派任何中期股息 1 毛利等於收益減已出售存貨成本。毛利率乃按毛利除以收益並將所得出的數值乘以100%計 算。 2 每股基本虧損金額乃根據本公司擁有人應佔期內虧損約34,611,000港元（2024年同期虧損： 約40,638,000港元）及本報告期間已發行普通股加權平均數1,300,000,000股（2024年同期： 1,300,000,000股）計算。 未經審核中期業績 （股份代號：1443） 截至2025年9月30日止六 ...

截至二零二五年九月三十日止六個月的 中期業績公告 財務摘要 – 1 – • 截至二零二五年及二零二四年九月三十日止六個月，本集團收益分別為約 134,700,000港元及約150,400,000港元。 • 毛利由截至二零二四年九月三十日止六個月約58,400,000港元下降至截至 二零二五年九月三十日止六個月約50,600,000港元。截至二零二五年及二 零二四年九月三十日止六個月的毛利率分別約37.6%及約38.8%。 • 截至二零二五年九月三十日止六個月，本集團錄得期內溢利約900,000港元， 而截至二零二四年九月三十日止六個月則錄得期內虧損約6,100,000港元。 轉虧為盈乃主要由於本集團於截至二零二五年九月三十日止六個月期間 實施以下措施：(i)在數碼印刷營運中引入人工智能驅動自動化技術，提高 作業效率；(ii)透過數據驅動的資源優化，合理配置生產能力並簡化製造流 程；以及(iii)各種成本控制措施令銷售及分銷費用以及行政開支減少。 eprint集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附 屬公司（統稱「本集團」）截至二零二五年九月三十日止六個月的未經審核簡明合 併中 ...

Financial Performance - For the six months ended September 30, 2025, the company reported revenue of HKD 133,076,000, an increase of 49.1% compared to HKD 89,280,000 for the same period in 2024[4] - Gross profit for the same period was HKD 69,613,000, representing a gross margin of 52.3%, up from HKD 45,241,000 in 2024[4] - The company recorded other income of HKD 35,831,000, which is a 53.4% increase from HKD 23,369,000 in the previous year[4] - Profit before tax for the six months was HKD 57,553,000, a significant increase of 85.6% compared to HKD 31,020,000 in 2024[4] - Net profit for the period was HKD 56,424,000, up 99.4% from HKD 28,278,000 in the same period last year[4] - The company reported total comprehensive income of HKD 64,651,000, compared to HKD 20,058,000 in 2024, marking a substantial increase[6] - Basic and diluted earnings per share were HKD 4.90 cents, compared to HKD 2.46 cents in the previous year, reflecting a growth of 99.6%[6] - The group's profit increased from approximately HKD 28.3 million for the six months ended September 30, 2024, to approximately HKD 56.4 million for the six months ended September 30, 2025, representing a growth of about 99.3%[29] Revenue Segments - The segment profit for the financial communication services was HKD 51,103,000 for the six months ended September 30, 2025, compared to HKD 20,255,000 in 2024, indicating a significant increase of approximately 152.5%[15][16] - The financial communications services segment generated revenue of approximately HKD 133.1 million for the six months ended September 30, 2025, up from HKD 89.2 million for the same period in 2024, marking a growth of approximately 49.2%[30] - The profit for the financial communications services segment was approximately HKD 51.1 million for the six months ended September 30, 2025, compared to HKD 20.2 million for the same period in 2024, an increase of about 153%[30] - The international roadshow services segment recorded no revenue for the six months ended September 30, 2025, down from approximately HKD 124,000 for the same period in 2024, resulting in a loss of approximately HKD 1,000[31] Assets and Liabilities - The total assets as of September 30, 2025, were HKD 1,581,548,000, an increase from HKD 1,514,785,000 as of March 31, 2025[10] - The company’s cash and cash equivalents increased to HKD 127,515,000 from HKD 31,396,000, indicating a strong liquidity position[8] - Trade and other payables rose to HKD 116,532,000 from HKD 102,137,000, reflecting an increase in operational activities[10] - As of September 30, 2025, the group's cash and bank balances amounted to approximately HKD 127.5 million, compared to HKD 31.4 million on March 31, 2025[33] - The group had no short-term bank loans or overdrafts as of September 30, 2025, maintaining a capital-to-liability ratio of 0%[33] Employee Costs and Structure - The company incurred employee costs, including retirement benefit plan contributions, totaling HKD 22,525,000 for the six months ended September 30, 2025, down from HKD 25,653,000 in 2024, a reduction of approximately 12.3%[17][16] - Employee costs, including director remuneration, totaled approximately HKD 22.5 million for the six months ending September 30, 2025[40] - The company has 163 full-time employees as of September 30, 2025[40] - The company plans to review its salary structure annually, with bonuses based on performance evaluations[40] Taxation and Other Income - Interest income from bank deposits for the six months ended September 30, 2025, was HKD 18,278,000, compared to HKD 20,736,000 in 2024, showing a decrease of approximately 7.1%[17][19] - Interest income from bond investments was HKD 0.5 million for the six months ended September 30, 2025, down from HKD 1.4 million for the same period in 2024[31] - The group earned bank interest of approximately HKD 18.3 million for the six months ended September 30, 2025, a decrease of about 11.6% from HKD 20.7 million for the same period in 2024 due to declining market interest rates[32] - The estimated taxable profit for Hong Kong profits tax was calculated at a tax rate of 16.5% for both periods, with current tax expenses of HKD 1,129,000 for 2025 and HKD 2,742,000 for 2024[19] Corporate Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[45] - The company has adhered to the corporate governance code as of September 30, 2025, with a commitment to reviewing its structure as necessary[41] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending September 30, 2025[44] Future Plans and Proceeds - As of September 30, 2025, the net proceeds from the IPO are approximately HKD 124.9 million, allocated for strategic acquisitions and investments in related businesses[39] - The expected use of proceeds from the placement as of September 30, 2025, includes approximately HKD 423.0 million for creating a mobile internet professional service platform, providing online-to-offline financial services[39] - The expected timeline for the unutilized proceeds is subject to market conditions and strategic developments[39] - The mid-term financial results will be published on the company's and the Hong Kong Stock Exchange's websites[46]

– 於 二 零 二 五╱二 六 年 度 上 半 年，本 集 團 錄 得 收 入 約 人 民 幣239.8百 萬 元， 主要來自交付中國宜春漢港 • 觀瀾二期的住宅單位。 – 二零二五╱二六年度上半年毛利率約為34.5%。 – 本公司擁有人應佔二零二五╱二六年度上半年溢利約為人民幣5.9百萬元。 – 於二零二五年九月三十日，現金及銀行結餘約為人民幣44.4百萬元，本集 團淨資本與負債比率較二零二五年三月三十一日下降至27.3%。 漢 港 控 股 集 團 有 限 公 司（「本公司」）董 事 會（分 別 稱 為「董 事」及「董事會」）公 佈 本 公 司 及 其 附 屬 公 司（統 稱 為「本集團」）截 至 二 零 二 五 年 九 月 三 十 日 止 六 個 月（「二 零二五╱二六年度上半年」）之 未 經 審 核 簡 明 綜 合 中 期 業 績 與 截 至 二 零 二 四 年 九 月 三 十 日 止 六 個 月（「二零二四╱二五年度上半年」）比 較 數 據 如 下： 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司（「聯交所」）對 本 公 告 的 內容概不負責，對其準確性 ...

Financial Performance - For the six months ended September 30, 2025, the company's revenue was HKD 18,905,000, a decrease of 20.5% compared to HKD 23,600,000 in the same period of 2024[3] - The gross profit for the same period was HKD 1,997,000, down 40.2% from HKD 3,342,000 in 2024[3] - The company reported a loss before tax of HKD 3,768,000, compared to a loss of HKD 1,775,000 in the previous year, indicating a significant increase in losses[3] - The net loss for the period was HKD 3,793,000, compared to HKD 1,798,000 in 2024, reflecting a year-over-year increase of 110.5%[3] - The company's cash and cash equivalents decreased significantly to HKD 1,075,000 from HKD 5,702,000, a decline of 81.1%[4] - The company’s net cash used in operating activities was HKD 1,494,000, a significant decrease from a net cash inflow of HKD 1,983,000 in 2024[8] - The group recorded a loss of approximately HKD 3,793,000 for the period, an increase from HKD 1,798,000 in 2024, primarily due to a decline in gross profit and the absence of gains from the sale of financial assets[57] Assets and Liabilities - The company's total assets as of September 30, 2025, were HKD 51,767,000, a decrease from HKD 55,465,000 as of March 31, 2025[4] - Current liabilities increased to HKD 8,022,000 from HKD 6,392,000, indicating a rise of 25.5%[4] - Trade receivables as of September 30, 2025, amounted to HKD 7,232,000, a decrease from HKD 7,502,000 as of March 31, 2025[34] - Trade payables as of September 30, 2025, were HKD 2,315,000, slightly down from HKD 2,328,000 as of March 31, 2025[37] - As of September 30, 2025, the group had current assets of approximately HKD 13,872,000, down from HKD 18,758,000 as of March 31, 2025[59] Revenue Breakdown - Repair service revenue was HKD 18,815,000, down 20.0% from HKD 23,495,000 in the previous year[17] - Total other income and gains decreased to HKD 2,786,000 from HKD 3,725,000, a decline of 25.3%[21] - Revenue for the six months ended September 30, 2025, was HKD 18,905,000, a decrease of 20.5% compared to HKD 23,600,000 for the same period in 2024[17] - Revenue from repair services was approximately HKD 18,815,000, a decrease of about 19.9% compared to HKD 23,495,000 in 2024[49] Shareholder Information - As of September 30, 2025, the company has issued a total of 128,342,000 shares[74] - Mr. Cheung's family holds 66,000,000 shares, representing approximately 51.43% of the company's issued shares[74] - The combined holdings of the Cheung brothers account for 1,384,000 shares, which is about 1.08% of the issued shares[74] - Ms. Tang holds 73,008,000 shares, representing approximately 56.89% of her spouse's holdings[82] - Ms. Yang holds 73,602,000 shares, representing approximately 57.35% of her spouse's holdings[82] - KW Cheung Family Holdings Limited is identified as a major shareholder with 66,000,000 shares, equivalent to 51.43%[82] Corporate Governance - The board emphasizes the importance of good corporate governance practices and has adopted several governance and disclosure practices to enhance transparency and accountability[84] - All directors have confirmed compliance with the trading standards during the reporting period[77] - The company has adopted the standard code for securities trading as per the listing rules[77] - The company has maintained the public float as required by the listing rules during the six months ending September 30, 2025[85] Future Outlook - The group plans to adopt a prudent and flexible strategy to navigate the challenging business environment in Hong Kong[68] - The group aims to optimize returns and create sustainable long-term value for shareholders by exploring new business opportunities[68] Other Information - The effective tax rate for Hong Kong profits tax is calculated at 16.5%[24] - The group employed 78 full-time employees as of September 30, 2025, down from 93 as of March 31, 2025[67] - The group has unutilized bank financing of approximately HKD 10,200,000 available for future funding needs[60] - There have been no significant events from September 30, 2025, to the date of this announcement[86] - The audit committee, composed of all independent non-executive directors, has reviewed and approved the unaudited condensed consolidated interim financial information for the six months ending September 30, 2025[87] - The interim results announcement is published on the Stock Exchange website and the company's website, with the annual interim report to be sent to shareholders at an appropriate time[88]

Financial Performance - The company reported a loss attributable to owners of approximately RMB 9,600,000 for the six months ended September 30, 2025, compared to a loss of RMB 9,400,000 for the same period in 2024[3]. - Revenue for the six months ended September 30, 2025, was approximately RMB 1,200,000, while there was no revenue reported for the same period in 2024[4]. - Gross profit for the six months ended September 30, 2025, was approximately RMB 505,000, with a gross margin of 43.7%, compared to zero for the same period in 2024[4]. - Basic loss per share for the six months ended September 30, 2025, was approximately RMB 2.09, compared to RMB 2.04 for the same period in 2024[5]. - The company recognized a total comprehensive loss of RMB 9,621,000 for the six months ended September 30, 2025, compared to RMB 9,393,000 for the same period in 2024[7]. - The total loss for the period ended September 30, 2025, was RMB (9,621) thousand, compared to a loss of RMB (9,393) thousand for the same period in 2024[19]. Assets and Liabilities - Total assets less current liabilities as of September 30, 2025, were RMB 61,911,000, compared to RMB 63,220,000 as of March 31, 2025[8]. - Net assets attributable to owners of the company decreased to RMB 16,228,000 as of September 30, 2025, from RMB 22,746,000 as of March 31, 2025[8]. - The total assets as of September 30, 2025, amounted to RMB 91,480 thousand, a decrease from RMB 97,351 thousand as of March 31, 2025[21]. - The total liabilities as of September 30, 2025, were RMB 75,252 thousand, compared to RMB 74,605 thousand as of March 31, 2025[22]. Cash Flow - For the six months ended September 30, 2025, the net cash used in operating activities was RMB (11,278) thousand, compared to RMB 6,517 thousand for the same period in 2024[13]. - The company reported a net cash decrease of RMB (4,495) thousand for the six months ended September 30, 2025, compared to an increase of RMB 1,602 thousand in the same period of 2024[13]. - The cash and cash equivalents at the end of the period were RMB 2,088 thousand, a slight decrease from RMB 2,119 thousand at the end of the previous period[13]. - As of September 30, 2025, the company's cash and bank balances totaled approximately RMB 2,100,000, down from RMB 6,600,000 as of March 31, 2025[55]. Expenses - The company incurred administrative expenses of RMB 8,342,000 for the six months ended September 30, 2025, compared to RMB 7,598,000 for the same period in 2024[7]. - Financing costs increased to RMB 2,786,000 for the six months ended September 30, 2025, from RMB 1,843,000 for the same period in 2024[7]. - Employee costs, including director remuneration, rose to RMB 4,111,000 for the six months ended September 30, 2025, up from RMB 3,814,000 in 2024, reflecting a 7.8% increase[26]. - Administrative expenses increased by approximately RMB 700,000 or 9.8% to about RMB 8,300,000 for the six months ended September 30, 2025, due to staff expansion and increased travel costs[54]. Revenue Sources - The total revenue from external customers for the renewable energy segment was RMB 1,156 thousand, with no revenue reported in the same period of 2024[18]. - The company reported no revenue from renewable energy product sales for the six months ended September 30, 2025, consistent with the same period in 2024, primarily due to downward pressure on retail prices in the Chinese market[49]. - The company generated approximately RMB 1,160,000 in revenue from its solar power generation system during the six months ended September 30, 2025, compared to no revenue in the same period of 2024[50]. Contracts and Future Prospects - The company has made significant progress in acquiring new contracts and expanding service offerings in the renewable energy sector, laying a solid foundation for future revenue generation[48]. - The company is actively pursuing key contracts to expand its services in the new energy power system integration sector[51]. - The operation and maintenance service contract with Hebei Fengbei is expected to be a significant future revenue source for the company[63]. - The maintenance and repair contract with Aolan Technology will generate a stable annual revenue of no less than HKD 5,000,000 during the initial two-year term, which can be automatically extended for another two years[66]. - The operation and maintenance agreement with Zhangbei Hengfeng New Energy will provide annual service fees of RMB 14,000,000 for a 3-year period starting from January 1, 2026[68]. - The total contract amount for the two EPC contracts with Tingxi Engineering is HKD 6.5 million for the construction of electric vehicle charging facilities in Kwun Tong, Hong Kong[70]. Shareholder Information - The total issued share capital as of September 30, 2025, was RMB 415,000, unchanged from March 31, 2025[44]. - As of September 30, 2025, the company has a total issued share capital of 460,976,684 ordinary shares[95]. - Mr. Huang Bo holds 19.52% of the company's shares, totaling 89,994,999 shares[93]. - Ms. Li Yanyan owns 12.82% of the company's shares, amounting to 59,094,406 shares[95]. - The company has granted stock options totaling 12,676,257 shares, representing approximately 2.75% of the total issued shares, with an exercise price of HKD 0.11 per share[81]. - No stock options were exercised, cancelled, or expired during the reporting period, maintaining a total of 12,676,257 stock options available for issuance[83]. Governance and Compliance - The audit committee reviewed and approved the company's unaudited consolidated performance for the first half of 2025[97]. - The company has complied with all provisions of the corporate governance code as per GEM Listing Rules during the first half of 2025[105]. - The remuneration committee consists of three independent non-executive directors as of September 30, 2025[98]. - The nomination committee is responsible for considering suitable director candidates based on the skills and experience required for the group's development[100]. - There are no controlling shareholders of the company as of September 30, 2025[102]. - The company has adopted a code of conduct for securities trading in compliance with GEM Listing Rules[104]. Strategic Initiatives - The company aims to expand its core business segments, focusing on recurring revenue sources and strategic diversification despite challenges in the global renewable energy sector[85]. - The company is actively pursuing service agreements related to operations and maintenance, which provide a stable and predictable revenue base[86]. - The company plans to seek new rooftop solar projects and acquisition opportunities to increase the share of renewable energy in its power generation mix to 7.5-10% by 2035[87]. - The company is exploring international market opportunities, particularly in Southeast Asia, to diversify its revenue sources and strengthen its global presence[88]. - Strict cost control measures will be implemented to reduce administrative and operational expenses, enhancing profitability amid global economic uncertainties[89]. - The company is committed to supporting regional and global energy transition goals through its projects in China and Hong Kong, as well as expanding international operations[90]. - The board expresses confidence in the company's strategic initiatives, which are expected to drive future growth and create long-term value for shareholders[91].

Financial Performance - The group's revenue for the six months ended September 30, 2025, was approximately RMB 748.16 million, a decrease of about 12.92% compared to the same period last year[2]. - The profit attributable to the owners of the company for the same period was approximately RMB 107.62 million[4]. - The basic earnings per share for the period was RMB 0.030[4]. - The total comprehensive income for the period was approximately RMB 184.94 million, slightly down from RMB 185.68 million in the previous year[4]. - The group reported a gross profit of RMB 343.32 million, down from RMB 378.30 million in the previous year[3]. - The company reported a net profit attributable to owners of RMB 107,620,000 for the six months ended September 30, 2025, up from RMB 85,474,000 in the same period of 2024, representing a growth of 25.9%[23]. - The group's half-year revenue decreased by approximately 12.92% compared to the same period in 2024, with explosive sales dropping by about 43.58% due to a downturn in the coal and coke industry[35]. Assets and Liabilities - Non-current assets increased to RMB 3,620.58 million as of September 30, 2025, compared to RMB 3,298.31 million as of March 31, 2025[6]. - Current liabilities decreased to RMB 1,437.85 million from RMB 1,601.30 million[6]. - The net asset value of the company increased to RMB 2,356.49 million as of September 30, 2025, from RMB 2,175.49 million[7]. - The group's current liabilities were approximately RMB 1,437.85 million as of September 30, 2025, down from RMB 1,601.30 million as of March 31, 2025[37]. - The group's debt-to-asset ratio was 52.13% as of September 30, 2025, a slight decrease from 52.74% as of March 31, 2025[45]. - The company’s depreciation of property, plant, and equipment increased to RMB 53,972,000 from RMB 49,178,000 year-over-year[21]. - Accounts receivable from trade amounted to RMB 296,202,000 as of September 30, 2025, compared to RMB 283,095,000 as of March 31, 2025, reflecting a growth in receivables[25]. Dividends and Shareholder Information - The group did not recommend the distribution of an interim dividend for the period[2]. - The company did not recommend an interim dividend for the current period, consistent with the previous year[22]. - As of September 30, 2025, key executives hold significant shares, with Liu Fali owning 242,415,854 shares (6.81%) and 1,707,147,368 shares (47.97%) through agreements[56]. - The total shareholding of major executives indicates a strong alignment with shareholder interests, with a combined ownership exceeding 51%[57]. - Major shareholder Yao Yang Holdings Limited holds 1,361,516,331 shares, representing 38.26% of the total shares[59]. - Mr. Ma Su Cheng, as a trust beneficiary, also holds 1,361,516,331 shares, equating to 38.26%[60]. - Ms. Ma Xia holds 172,166,037 shares, which is 4.84% of the total shares[60]. - The company did not purchase, sell, or redeem any listed shares during the six months ending September 30, 2025[62]. - As of September 30, 2025, the company had no treasury shares[63]. - There were no significant competitive interests held by directors or major shareholders during the reporting period[64]. Corporate Governance - The company has adopted a rigorous code of conduct for securities trading, ensuring compliance by all directors[66]. - The company has maintained high standards of corporate governance, adhering to the principles of the Corporate Governance Code[67]. - The roles of Chairman and CEO are held by the same individual, Mr. Ma Tian Yi, which the board believes provides strong leadership[68]. - There have been no changes in the information disclosed regarding the independent non-executive director since the last annual report[69]. - The audit committee has been established in accordance with the Listing Rules and consists of three independent non-executive directors[70]. - The interim results announcement and report for the six months ending September 30, 2025, have been reviewed by the audit committee members[71]. - There have been no significant events affecting the group from September 30, 2025, to the date of this announcement[72]. Operational Highlights - The company has been engaged in the manufacturing and sale of explosives and related services, primarily operating in China[8]. - Sales of explosives amounted to RMB 195,450,000, while blasting services generated RMB 101,630,000, indicating a significant increase in blasting services revenue from RMB 59,952,000 in the previous year[12]. - The mining business generated external sales of RMB 461,485,000, contributing to a segment profit of RMB 176,673,000, compared to RMB 351,044,000 and RMB 63,593,000 respectively in the prior year[17]. - The company completed a partial sale of its subsidiary, Tibet Tianren Mining Co., Ltd., selling 5% equity for RMB 45,170,000, reducing its ownership from 54% to 51%[29]. - The company’s deferred tax expenses for the period were RMB 579,000, a significant decrease from RMB 27,502,000 in the prior year[19]. - The increase in property, plant, and equipment during the period was RMB 347,560,000, compared to RMB 257,840,000 as of March 31, 2025[24]. - The group employed 1,448 full-time employees as of September 30, 2025, an increase from 1,111 employees as of March 31, 2025[50]. - The group reported a 28.44% increase in concentrate sales compared to the previous year, driven by rising sales prices of copper and sulfur concentrates[35]. - The group had borrowings of approximately RMB 1,031.93 million as of September 30, 2025, up from RMB 896.54 million as of March 31, 2025[37]. - The group did not engage in any significant investments or acquisitions during the six-month period ending September 30, 2025[41][43]. - The group completed surface drilling of 1,118 meters and underground drilling of 10,635.5 meters for production exploration during the six-month period ending September 30, 2025[52]. - During the six months ended September 30, 2025, exploration, development, and mining expenditures were reported as follows: RMB 5,328.65 thousand for exploration, RMB 3,792.70 thousand for development, and RMB 22,965.72 thousand for mining at the Anhui Jinding project[53]. - The sales volume of civil explosives significantly declined in the first half of the year due to a prolonged downturn in the coal market and tightened safety regulations, leading to reduced demand for civil explosive products[54]. - The Anhui Jinding project showed stable operation with increased revenue attributed to high copper and gold prices, while the construction of the Tajikistan detonator production line is nearing completion[54]. - The comprehensive construction of the Tibet Tianren project has commenced, with production expected to start by the end of 2026, which is anticipated to enhance the company's revenue and operational capabilities[54]. - The management believes that the Inner Mongolia civil explosive market has bottomed out, and sales are expected to recover as coal prices gradually improve[55]. - The company plans to optimize the layout of civil explosive production capacity to enhance profitability and risk resilience[55]. - The deep phase II project at Anhui Jinding is progressing steadily, with ongoing optimization of ore selection processes expected to increase the unit value of ore[55]. - The company aims to strengthen its expansion in Central Asia, focusing on blasting and mining engineering projects to drive growth in civil explosive sales and mineral resource development[55].