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 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。 （於開曼群島註冊成立之有限公司） （股份代號： 01382） 截 至2025年9月30日止六個月 中期業績公告 本公司之董事局欣然公佈本集團截至2025年9月30日止六個月之未經審核簡明綜合 業 績，連 同 截 至2024年9月30日 止 六 個 月 之 比 較 數 字。 中期財務資料 簡明綜合損益表 截 至2025年9月30日止六個月 | | | | | | | | 至9月30日止六個月 | | | | 截 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 2025年 | | ...

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依賴該等內容而引致的任何損失承擔任何責任。 CHERISH SUNSHINE INTERNATIONAL LIMITED 承 輝 國 際 有 限 公 司 （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） 截至二零二五年九月三十日止六個月之中期業績公告 承輝國際有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其附屬 公司（統稱「本集團」）截至二零二五年九月三十日止六個月（「本期間」）未經審核 簡明綜合中期業績及財務狀況連同截至二零二四年九月三十日止六個月之比較數 字。簡明綜合中期業績未經本公司核數師審閱或審核，惟已經本公司審核委員會（「審 核委員會」）審閱。 簡明綜合損益表 截至二零二五年九月三十日止六個月 | | | 截至九月三十日止六個月 | | | --- | --- | --- | --- | | | | 二零二五年 | 二零二四年 | | | 附註 | 千港元 | 千港元 | | | | （未經審核） | （未經 ...

Financial Performance - Revenue for the six months ended September 30, 2025, increased by approximately 8.9% to about HKD 476.3 million compared to HKD 437.2 million for the same period in 2024[9]. - Gross profit for the reporting period rose by approximately 7.9% to about HKD 76.4 million, up from HKD 70.9 million in the previous year[9]. - Profit attributable to owners of the company decreased by approximately 23.4% to about HKD 5.1 million, down from HKD 6.6 million in the same period last year[9]. - Basic earnings per share decreased by approximately 23.2% to HKD 0.63, compared to HKD 0.82 for the same period in 2024[9]. - The company reported a net profit of HKD 5,067,000 for the six months ended September 30, 2025, a decrease from HKD 6,618,000 in the same period of 2024, representing a decline of 23.4%[14]. - The company’s total comprehensive income for the six months ended September 30, 2025, was HKD 7,241,000, compared to HKD 9,074,000 for the same period in 2024, a decrease of 20.2%[14]. - The group achieved a net profit attributable to shareholders of HKD 5.1 million, a decrease of approximately 23.4% from HKD 6.6 million in the same period last year[58]. Revenue Breakdown - Revenue from IT infrastructure solutions was HKD 314,040,000, up 12.2% from HKD 279,700,000 year-over-year[26]. - Revenue from IT infrastructure management services increased to HKD 162,122,000, a rise of 3.5% compared to HKD 157,415,000 in the previous year[26]. - AI products and solutions generated revenue of HKD 102,000, a decrease of 10.5% from HKD 114,000 in the prior year[26]. Expenses and Cash Flow - Total operating expenses during the reporting period were approximately HKD 68.4 million, with about HKD 5.9 million allocated to support research and development in generative AI and the establishment of the Network and Security Operations Center (NOC/SOC)[9]. - The net cash used in operating activities for the six months ended September 30, 2025, was HKD 57,998,000, compared to HKD 47,196,000 for the same period in 2024, indicating a 22.5% increase in cash outflow[15]. - The company incurred cash outflows of HKD 3,619,000 for the purchase of property, plant, and equipment during the six months ended September 30, 2025, compared to HKD 251,000 in the same period of 2024, indicating a significant increase in capital expenditure[15]. Assets and Liabilities - Non-current assets as of September 30, 2025, totaled HKD 133.3 million, an increase from HKD 127.3 million as of March 31, 2025[12]. - Total assets as of September 30, 2025, amounted to HKD 585,878,000, compared to HKD 511,556,000 as of September 30, 2024[24]. - Total liabilities increased to HKD 386,862,000 from HKD 316,962,000 year-over-year[24]. - Current liabilities totaled HKD 297.1 million, slightly up from HKD 295.0 million as of March 31, 2025[12]. - The company’s non-current liabilities increased to HKD 89,811,000 as of September 30, 2025, from HKD 80,575,000 as of March 31, 2025, marking an increase of 11.5%[13]. Shareholder Information - Proposed final dividend per share is HKD 0.75, down from HKD 0.82 in the previous year, totaling HKD 6,025,000[31]. - Major shareholders include Mr. Mo with 91,800,000 shares (11.4%) and Mr. Zhang with 89,760,000 shares (11.2%) as of September 30, 2025[76]. - Ms. Luk holds 226,890,000 shares (28.2%) and has a spouse interest in 450,500,000 shares (56.1%)[76]. - The total issued shares as of September 30, 2025, is 803,280,000[79]. Employee and Management Costs - The total employee cost for the reporting period was approximately HKD 122.7 million, compared to HKD 118.3 million in 2024[69]. - The total compensation for directors and key management personnel for the six months ended September 30, 2025, was HKD 6,788,000, down from HKD 7,030,000 in 2024, a decrease of 3.44%[40]. - The company employed a total of 1,023 employees as of September 30, 2025, an increase from 1,006 employees as of March 31, 2025[69]. Strategic Focus and Challenges - The company continues to actively reinvest in technology innovation to drive future growth[9]. - The company recognizes ongoing challenges in the business environment due to geopolitical tensions and economic slowdowns, which may negatively impact revenue and cost structures[43]. - The company aims to focus resources on three high-growth product lines: cybersecurity, automation and AI, and managed services to enhance competitive advantages[44]. - The group is actively expanding its services in the Asia-Pacific region to meet the growing demand for IT infrastructure management services[47]. - The group is focusing on developing generative AI solutions to meet the urgent needs for business automation and cost reduction[48]. Governance and Compliance - The board has adopted a code of conduct for securities trading, ensuring compliance with GEM listing rules[88]. - The company emphasizes good corporate governance practices and has adopted the corporate governance code as per GEM listing rules[89]. - The audit committee has reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[91].

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 容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 STEED ORIENTAL (HOLDINGS) COMPANY LIMITED 駿 東（控股 ）有限公 司 （於開曼群島註冊成立之成員有限公司） （股份代號：8277） 截至2025年9月30日止六個月之中期業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的公司提供一個 上市的市場。有意投資者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。GEM的較高風險及其他特色表示GEM較適合專業及其他資深投資 者。 由於GEM上市公司新興的性質使然，在GEM買賣的證券可能會較於聯交所主板買賣 的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。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定提供有關駿東（控股） 有限公司（「本公司」）之資料。本公司董事（「董事」）願 ...

Financial Performance - For the six months ended September 30, 2025, the company reported a revenue of HKD 25,023,000, a decrease of 30.9% compared to HKD 36,237,000 for the same period in 2024[7] - The gross profit for the same period was HKD 2,413,000, compared to a gross loss of HKD 2,175,000 in the previous year, indicating a significant improvement[7] - The operating loss narrowed to HKD 1,970,000 from HKD 7,458,000 year-over-year, reflecting a reduction in operating expenses[7] - The basic loss per share improved to HKD 0.36 from HKD 1.35, showing a 73.3% reduction in loss per share[6] - The company reported a loss attributable to owners of HKD 1,997,000 for the six months ended September 30, 2025, compared to a loss of HKD 7,458,000 for the same period in 2024[23] - The group reported a loss attributable to owners of approximately HKD 2.0 million for the six months ended September 30, 2025, compared to a loss of about HKD 7.5 million for the same period in 2024[41] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 1,557,000 from HKD 11,516,000 at the end of the previous reporting period, indicating a cash outflow[11] - The company reported a net cash outflow from operating activities of HKD 9,959,000, compared to HKD 8,860,000 in the previous year, highlighting ongoing cash management challenges[11] - The current ratio as of September 30, 2025, was approximately 11.78, down from 14.60 as of March 31, 2025[43] - The group had cash and bank balances totaling approximately HKD 1.6 million as of September 30, 2025, compared to HKD 11.5 million as of March 31, 2025[43] Inventory and Receivables - Inventory levels increased significantly to HKD 59,900,000 from HKD 31,467,000, suggesting potential overstocking or changes in sales strategy[8] - Trade receivables decreased to HKD 6,192,000 from HKD 7,939,000, indicating improved collection efforts[8] - Trade receivables as of September 30, 2025, totaled HKD 6,192,000, down from HKD 7,939,000 as of March 31, 2025[24] - Trade payables as of September 30, 2025, were HKD 3,321,000, a decrease from HKD 3,874,000 as of March 31, 2025[25] Expenses and Cost Management - Total employee costs amounted to HKD 2,427,000, a decrease of 18.9% from HKD 2,991,000 in the previous year[21] - Promotional, sales, and distribution expenses decreased by approximately 33.1% to about HKD 2.3 million for the six months ended September 30, 2025, compared to HKD 3.4 million for the same period in 2024[37] - Administrative expenses decreased by approximately 38.5% to about HKD 1.9 million for the six months ended September 30, 2025, from HKD 3.1 million for the same period in 2024[37] Dividend and Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2025, reflecting a cautious approach to cash distribution[5] - The company did not declare an interim dividend for the six months ended September 30, 2025, consistent with the previous year[22] - As of September 30, 2025, Mr. Zhang Jun Tao holds 298,092,515 shares, representing 53.77% of the company's equity[48] - Ms. Lian Shuxuan, as the spouse of Mr. Zhang, holds 1,856,667 shares, contributing to a total of 299,949,182 shares or 54.10% when combined with Mr. Zhang's holdings[49] - Zheng Huanming holds 48,000,000 shares, representing 8.66% of the company's equity[50] - Zhang Guozhong holds 44,600,000 shares, representing 8.05% of the company's equity[50] - Zhang Guangyuan holds 47,714,040 shares, representing 8.61% of the company's equity[50] - The company has a stock option plan with 33,260,000 options available for issuance, equivalent to 6.0% of the total issued shares[52] - No shares were bought, sold, or redeemed by the company or its subsidiaries in the six months ending September 30, 2025[53] Market and Operational Insights - The company’s primary market remains Hong Kong, with all revenue generated from this region[17] - The group remains confident in its position as a major retailer of quality wines in Hong Kong, despite ongoing challenges in the retail market[33] Audit and Compliance - The Audit Committee is responsible for reviewing the group's financial systems, accounting policies, financial condition, and financial reporting procedures[64] - The Audit Committee consists of three independent non-executive directors: Mr. Hsiao Cheng-te, Mr. Yu Chi-hua, and Ms. Li Bo[64] - The interim financial information for the six months ending September 30, 2025, has not been audited by the company's auditor[64] - The interim results announcement will be published on the company's website and the Hong Kong Stock Exchange website[65] - The interim report for 2025 is expected to be sent to shareholders around November 28, 2025[65] Risk Management - The company maintains a prudent treasury policy to mitigate credit risk through continuous credit assessments of clients[61] - The company does not have any significant foreign exchange risks as most sales and monetary assets are denominated in Hong Kong dollars[62] - The group has no significant lease or capital commitments as of September 30, 2025[44] - The company has not made any significant investments or capital asset plans as of September 30, 2025[60]

Financial Performance - The group's revenue for the six months ended September 30, 2025, was approximately HKD 24,700,000, an increase from HKD 20,300,000 for the same period in 2024, representing a growth of about 21.8%[4] - The loss attributable to the owners of the company for the six months ended September 30, 2025, was approximately HKD 500,000, significantly reduced from a loss of HKD 11,400,000 for the same period in 2024[4] - Gross profit for the six months ended September 30, 2025, was HKD 12,845,000, compared to HKD 9,901,000 for the same period in 2024, indicating a gross margin improvement[5] - Operating loss for the six months ended September 30, 2025, was HKD 426,000, a significant improvement from an operating loss of HKD 11,585,000 in the prior year[5] - The basic and diluted loss per share for the six months ended September 30, 2025, was HKD 1.48, compared to HKD 2.20 for the same period in 2024, showing a reduction in loss per share[6] - The net loss before tax for the six months ended September 30, 2025, was HKD 557,000, a substantial improvement compared to a net loss of HKD 11,679,000 for the same period in 2024[20] Dividend and Shareholder Information - The board of directors does not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year where no dividend was declared[4] - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025[23] - As of September 30, 2025, major shareholders hold approximately 3,952,500 shares, representing 12.70% of the company's issued share capital[57] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 33,713,000, an increase from HKD 28,989,000 as of March 31, 2025[7] - Current liabilities increased to HKD 17,198,000 as of September 30, 2025, compared to HKD 11,290,000 as of March 31, 2025, reflecting a rise in trade payables and contract liabilities[8] - The company's net assets as of September 30, 2025, were HKD 28,178,000, slightly down from HKD 28,735,000 as of March 31, 2025[8] - As of September 30, 2025, the net amount of loans and advances to customers was HKD 18,208,000, down from HKD 23,447,000 as of March 31, 2025[28] - The company reported a decrease in the provision for impairment of loans and advances to customers, from HKD 89,572,000 as of March 31, 2025, to HKD 80,798,000 as of September 30, 2025[28] Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2025, were HKD 10,343,000, up from HKD 3,964,000 as of March 31, 2025, indicating improved liquidity[8] - The net cash generated from operating activities for the six months ended September 30, 2025, was HKD 10,506,000, compared to HKD 1,393,000 for the same period in 2024, representing a significant increase[10] - The company reported a total cash and cash equivalents balance of HKD 10,343,000 at the end of the period, up from HKD 5,655,000 at the end of the previous year, reflecting a growth of 83.5%[10] - As of September 30, 2025, the group's cash and cash equivalents were approximately HKD 10,300,000, up from HKD 4,000,000 as of March 31, 2025[50] Revenue Segmentation - Total revenue from customer contracts for the six months ended September 30, 2025, was HKD 24,691,000, up from HKD 20,323,000 in 2024, indicating a growth of approximately 21.7%[15] - The retail and wholesale business segment generated revenue of HKD 20,246,000 for the six months ended September 30, 2025, compared to HKD 13,351,000 in 2024, marking an increase of 51.7%[17] - The lending business generated revenue of approximately HKD 4,400,000 during the six-month period, with expectations for sustainable income in the future[45] - The retail segment's revenue was approximately HKD 20,200,000 for the six months ended September 30, 2025, compared to HKD 13,400,000 in the same period last year, reflecting an increase of about 52%[47] Expenses and Costs - The company incurred employee benefit expenses of HKD 7,570,000 for the six months ended September 30, 2025, compared to HKD 6,855,000 in 2024, which is an increase of 10.4%[20] - The total financing costs for the six months ended September 30, 2025, were HKD 131,000, compared to HKD 94,000 in 2024, indicating an increase of 39.4%[20] Corporate Governance - The company has established an audit committee responsible for reviewing the annual report and financial statements, ensuring compliance with applicable accounting standards[61] - The audit committee has reviewed the unaudited consolidated results for the six-month period, confirming that the results were prepared in accordance with applicable accounting standards[62] - The company has complied with the corporate governance code as per GEM Listing Rules during the six-month period[60] - The remuneration committee is responsible for reviewing and setting the remuneration policies for directors and senior management based on the group's performance[63] - The nomination committee has been established to review and provide recommendations on any proposed changes to the board[64] - The company has adopted trading standards as per GEM Listing Rules, ensuring compliance by all directors during the six-month period[65] - The board of directors includes both executive and independent non-executive members, ensuring a balanced governance structure[66] Business Strategy and Operations - The group plans to continue improving its existing business and explore new investments to broaden its business scope and maximize shareholder returns[48] - The group operates several retail stores and focuses on offering a diverse range of products, including health products and ready-to-eat meals[46] - The group has obtained distribution and sales rights for health supplement products from FromBio Co. Limited, a global healthcare company established in 2006 in South Korea[42] - The group has not engaged in any significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the reporting period[53] - During the six-month period, the group did not purchase, sell, or redeem any listed securities[58] - The company has not granted any share options under the share option scheme as of September 30, 2025[31] - There were no guarantees provided to third parties as of September 30, 2025[32]

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[5] - Gross profit for the same period was HKD 25,341,000, down 16.0% from HKD 30,137,000 in 2024[5] - The 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[5] - Basic and diluted earnings per share decreased to HKD 2.31 from HKD 2.75, reflecting a 16.0% drop[7] - For the six months ended September 30, 2025, the company reported a profit of HKD 9,248,000, compared to a profit of HKD 11,006,000 for the same period in 2024, representing a decrease of 16%[10] - Profit before tax for the six months ended September 30, 2025, was HKD 9,248,000, down 16.0% from HKD 11,006,000 in 2024[34] - Net profit for the period was approximately HKD 9.2 million, down from about HKD 11.0 million, mainly due to revenue decline offset by cost reduction measures[54] Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 359,787,000, an increase from HKD 341,113,000 as of March 31, 2025[8] - Non-current assets totaled HKD 140,703,000, slightly down from HKD 141,934,000[8] - The company’s total equity increased to HKD 343,469,000 from HKD 334,226,000, reflecting a growth of 2.4%[9] - Total equity attributable to owners increased to HKD 344,839,000 as of September 30, 2025, up from HKD 306,854,000 as of September 30, 2024, reflecting a growth of 12.4%[10] - Trade receivables as of September 30, 2025, totaled HKD 59,546,000, an increase from HKD 50,535,000 as of March 31, 2025[41] - Trade payables as of September 30, 2025, amounted to HKD 227,000, slightly up from HKD 207,000 as of March 31, 2025[42] Inventory and Cash Flow - Inventory increased significantly to HKD 216,640,000 from HKD 121,214,000, indicating a rise of 78.8%[8] - The company experienced a substantial increase in inventory, which rose by HKD 95,426,000, compared to an increase of HKD 31,570,000 in the previous year, indicating a significant change in inventory management[12] - Operating cash flow before changes in working capital decreased significantly to HKD 18,641,000 from HKD 23,054,000 year-on-year, a decline of 19.5%[11] - The net cash decrease for the period was HKD 124,551,000, compared to a decrease of HKD 4,869,000 in the same period last year, highlighting a significant cash flow challenge[12] Financing and Costs - The company reported a financing cost of HKD 3,171,000, down 32.1% from HKD 4,673,000 in the previous year[5] - New bank borrowings raised during the period amounted to HKD 120,711,000, compared to HKD 74,976,000 in the previous year, showing an increase of 60.9%[12] - Financing costs decreased to HKD 3,171,000 in 2025 from HKD 4,673,000 in 2024, a reduction of 32.1%[30] - Cost of sales reduced by approximately 26.7% from about HKD 127.7 million to approximately HKD 93.6 million, directly related to the decline in revenue[46] - Operating expenses for sales and distribution decreased from about HKD 6.9 million to approximately HKD 5.8 million, attributed to cost reduction measures[50] - Administrative expenses decreased from about HKD 5.9 million to approximately HKD 5.4 million, mainly due to reduced depreciation and ongoing cost efficiency measures[51] Corporate Governance and Compliance - The company is committed to maintaining high levels of corporate governance and has adopted all applicable principles of the GEM Listing Rules corporate governance code[88] - The company has confirmed compliance with the trading standards for all directors during the reporting period[87] - The Audit Committee was established on December 18, 2017, and consists of three independent non-executive directors, with Mr. Liu Jianwei serving as the chairman[91] - The Audit Committee reviewed the unaudited consolidated performance of the group for the period and confirmed compliance with applicable accounting standards and GEM listing rules[92] Market and Business Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[5] - The group is actively seeking additional business opportunities, including expanding its alcoholic beverage product portfolio and providing marketing services for brand owners[69] - The group believes that its public listing on the GEM enhances its creditworthiness and bargaining power with suppliers[68] Shareholder Information - The major shareholder, Ms. Wang Zilu, holds a 70% stake in the company through Shirz Limited, which owns 280 million shares[72] - The company’s major shareholder, Ms. Wang Zilu, holds a 70% stake in the company as of the report date[82] - The company has a stock option plan that allows for the issuance of a total of 40,000,000 shares, representing 10% of the company's issued share capital as of the report date[84] Other Information - The company has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but not yet effective during the period[17] - The company has not disclosed any interests in competing businesses by its directors or major shareholders during the reporting period[86] - There are no post-reporting period events as of the report date[66] - The report will be published on the Hong Kong Stock Exchange website for at least seven days from the publication date[93]

Financial Performance - For the six months ended September 30, 2025, the group's revenue was HKD 17,520,000, a decrease of 22.0% compared to HKD 22,460,000 for the same period in 2024[4] - The gross profit for the same period was HKD 5,551,000, slightly up from HKD 5,515,000, indicating a stable gross margin despite lower revenue[4] - Operating profit significantly decreased to HKD 1,194,000 from HKD 9,120,000, reflecting a decline of 87.8% year-on-year[4] - The net profit for the period was HKD 900,000, down 89.6% from HKD 8,681,000 in the previous year[4] - The total comprehensive loss for the period was HKD 892,000, compared to a comprehensive income of HKD 6,673,000 in the same period last year[4] - The company reported a basic and diluted earnings per share of HKD 0.16, down from HKD 1.06 in the previous year[5] - The company reported a profit attributable to owners of HKD 958,000 for the six months ended September 30, 2025, a decrease of 84.5% compared to HKD 6,191,000 for the same period in 2024[38] - Total revenue decreased by approximately 21.8% from HKD 22,500,000 in the six months ended September 30, 2024, to HKD 17,500,000 in the same period of 2025[60] Cash Flow and Liquidity - The company's cash and cash equivalents decreased to HKD 2,500,000 from HKD 5,968,000, a decline of 58.2%[6] - The group recorded a net cash outflow from operations of approximately HKD 12,681,000 for the year ended March 31, 2025[12] - The company had cash and cash equivalents of HKD 31,000 as of September 30, 2025, unchanged from the previous period[26] - As of September 30, 2025, the group's bank cash and cash equivalents were approximately HKD 2,500,000, down from approximately HKD 6,000,000 as of March 31, 2025[76] Assets and Liabilities - Total assets increased to HKD 24,259,000 from HKD 20,419,000, representing a growth of 18.0%[6] - Total liabilities rose to HKD 25,566,000 from HKD 20,834,000, an increase of 22.8%[7] - Total assets as of September 30, 2025, amounted to HKD 24,259,000, an increase from HKD 20,419,000 as of March 31, 2025[26] - Total liabilities increased to HKD 25,566,000 as of September 30, 2025, compared to HKD 20,834,000 as of March 31, 2025, indicating a rise in financial obligations[26] Operational Management - The group continues to focus on expanding its hotel and property management services, although specific new product or technology developments were not detailed in the report[9] - The group is actively exploring new profitable business opportunities and enhancing operational management to improve efficiency[15] - The company is actively seeking alternative properties for relocation due to the involuntary closure of restaurant operations, which has posed challenges to the business[64] - The company aims to explore business expansion opportunities, including the design and production of core components for robotics and smart systems[58] Employee and Management Costs - The total employee cost for the six months ended September 30, 2025, was approximately HKD 13,200,000, down from approximately HKD 22,300,000 for the same period in 2024[85] - The total compensation for key management personnel decreased from HKD 1,543,000 to HKD 758,000, a decline of approximately 50.9%[52] - The group had 421 employees as of September 30, 2025, a decrease from 687 employees as of March 31, 2024[85] Financial Reporting and Compliance - The group has adopted several new and revised Hong Kong Financial Reporting Standards during the current accounting period, which did not have a significant impact on the financial performance[17] - The audit committee has been established in accordance with GEM Listing Rules, with responsibilities including reviewing and supervising the financial reporting process and internal control procedures[95] - The interim financial results for the six months ending September 30, 2025, have been reviewed by the audit committee and comply with applicable accounting standards and GEM Listing Rules[95] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, with printed versions sent to shareholders who opted for them[96] Business Risks and Uncertainties - There is significant uncertainty regarding the group's ability to continue as a going concern, dependent on timely collection of receivables and financial support from the holding company[16] - The group had no confirmed income tax expenses for the six months ended September 30, 2025, as it did not generate taxable profits[74] - The company did not incur any income tax expenses for the six months ended September 30, 2025, due to the absence of taxable profits in Hong Kong and China[36] Revenue Breakdown - Revenue from external customers for the asset management segment was HKD 11,540,000 for the six months ended September 30, 2025, compared to HKD 7,547,000 for the same period in 2024[24] - Revenue from asset management services surged from approximately HKD 400,000 to about HKD 6,000,000, marking a significant increase attributed to related party transactions[55] - Revenue from security, property management, and human resources services decreased by approximately HKD 3,000,000 or 20.4%, from about HKD 14,500,000 to approximately HKD 11,500,000[56] - Other income decreased from HKD 19,200,000 to HKD 16,000 due to the absence of one-time gains and the sale of subsidiaries with net liabilities[70] Debt and Financial Obligations - The company has extended the maturity date of its unsecured bonds to July 15, 2026, following multiple agreements with bondholders[44][45] - The total liabilities increased from HKD 6,846,000 to HKD 8,636,000, reflecting a rise of approximately 26.0%[43] - The provision for trade receivables remained constant at HKD 4,456,000, indicating stable credit risk management[42] - As of September 30, 2025, the group's capital debt ratio was 109.1%, up from 106% as of March 31, 2025[79] Dividends and Share Capital - The company did not recommend an interim dividend for the six months ended September 30, 2025, consistent with the previous year[40] - The board did not recommend any interim dividend for the six months ended September 30, 2025, consistent with the previous period[75] - The total issued and fully paid share capital as of September 30, 2025, was HKD 29,072,000, with 581,442,248 ordinary shares[48] Other Notable Points - The group reached a settlement with creditors regarding an outstanding balance of approximately HKD 437,000, and the winding-up petition was withdrawn on April 22, 2025[15] - The company recorded other income of HKD 16,000 for the six months ended September 30, 2025, compared to HKD 19,169,000 in the previous year, indicating a substantial drop in other income sources[33] - The group had no significant investments or major acquisitions or disposals of subsidiaries or associates during the six months ended September 30, 2025[82] - There were no significant contingent liabilities as of September 30, 2025[84]

Financial Performance - Revenue for the six months ended September 30, 2025, was SGD 44,211,022, a decrease of 9.8% compared to SGD 48,578,720 for the same period in 2024[4] - Gross profit increased to SGD 7,921,257, up 22.9% from SGD 6,446,672 in the previous period[4] - The net loss for the period was SGD 1,580,457, an improvement of 48.0% compared to a net loss of SGD 3,043,504 in the same period last year[6] - Basic and diluted loss per share improved to SGD (0.11) from SGD (0.24) year-on-year[6] - Revenue from Integrated Building Services was SGD 31,341,086, up 9.5% from SGD 28,632,220 in 2024[14] - Revenue from Building Construction decreased significantly to SGD 9,749,145, down 50.1% from SGD 19,454,827 in 2024[14] - Revenue from Information Technology Development and Application increased to SGD 588,027 from SGD 57,911, marking a growth of 908.5%[14] - Revenue from digital asset trading under other sources was SGD 1,145,968, up 201.6% from SGD 380,022 in 2024[15] - The company reported a loss attributable to owners of SGD 1,270,226 for the six months ended September 30, 2025, compared to a loss of SGD 2,874,000 for the same period in 2024, representing a 55.8% improvement[26] Assets and Liabilities - Total assets decreased to SGD 49,987,525 from SGD 54,426,216 as of March 31, 2025[7] - Current liabilities decreased to SGD 11,129,591 from SGD 14,813,854, indicating improved liquidity[7] - The company’s equity totalled SGD 56,887,878, a decrease from SGD 57,884,416 as of March 31, 2025[8] - Trade receivables amounted to SGD 11,759,330 as of September 30, 2025, down from SGD 15,734,473 as of March 31, 2025, indicating a decrease of 25.5%[27] - Trade payables decreased to SGD 6,186,327 as of September 30, 2025, from SGD 9,251,655 as of March 31, 2025, a reduction of 33.4%[32] - The company reported a total of SGD 8,340,719 in total liabilities as of September 30, 2025, compared to SGD 11,693,521 as of March 31, 2025, reflecting a decrease of 28.5%[32] Employee and Operational Costs - Total employee costs increased to SGD 7,762,162 for the six months ended September 30, 2025, up from SGD 6,927,770 in the previous year, reflecting an increase of 12.0%[24] - The cost of goods sold for inventory recognized as cost of sales and services was SGD 4,199,469, compared to SGD 3,449,584 in the previous year, marking a 21.7% increase[24] - As of September 30, 2025, the group employed 482 full-time employees, a decrease from 498 employees as of March 31, 2025[49] - Employee compensation is determined based on job scope, responsibilities, and performance, with local employees receiving discretionary bonuses based on performance and profitability[49] - The company provides employee benefits including retirement benefits, medical benefits, and sponsorship for training courses[49] Corporate Governance - The company has adhered to the corporate governance code, with the role of Chairman and CEO being separated, although the CEO position has been vacant since July 23, 2021[51] - The audit committee reviewed the interim financial data, which has not been audited, and confirmed compliance with applicable accounting standards and legal requirements[53] - The audit committee is composed of independent non-executive directors, ensuring effective oversight of financial reporting[53] - The board will continue to review its structure and may appoint a new CEO if a suitable candidate is found[51] - The company remains committed to maintaining good corporate governance to protect shareholder interests and ensure accountability[51] Revenue Sources and Market Conditions - Revenue from external customers in Singapore was SGD 41,090,231, down 14.5% from SGD 48,087,047 in 2024[16] - The company reported a total of three major clients contributing over 10% of total revenue, with Client I generating SGD 7,127,050 and Client II generating SGD 7,134,933 for the six months ended September 30, 2025[16] - The market price of Bitcoin decreased from approximately $113,000 on September 30, 2025, to about $91,000 as of the announcement date[50] Dividend Policy - The company did not recommend an interim dividend for the six months ended September 30, 2025, consistent with the previous year[25] - The group does not plan to declare an interim dividend for the six months ending September 30, 2025[45]

Financial Performance - For the six months ended September 30, 2025, the company reported revenue of RMB 129,140,000, a decrease of approximately RMB 55,491,000 or 30.1% compared to the same period in 2024, primarily due to a reduction in project numbers[3] - Gross profit for the same period was RMB 3,922,000, down RMB 13,908,000 from RMB 17,830,000 in the previous year, resulting in a gross margin decline from approximately 9.7% to 3.0% due to intensified market competition[3] - The loss attributable to shareholders was RMB 71,313,000, compared to a loss of RMB 13,988,000 in the prior year, mainly due to the aforementioned gross profit decline and an increase in impairment losses on trade receivables and contract assets by approximately RMB 40,355,000[3] - Total revenue for the six months ended September 30, 2025, was RMB 129,140,000, a decrease from RMB 184,631,000 for the same period in 2024, resulting in a gross profit of RMB 3,922,000[21] - The group reported a net loss of RMB 71,313,000 for the six months ended September 30, 2025, compared to a net loss of RMB 13,988,000 for the same period in 2024[27] - The company reported a basic loss per share of RMB 71,313,000 for the six months ended September 30, 2025, compared to a loss of RMB 13,988,000 for the same period in 2024[48] - For the six months ended September 30, 2025, the company reported a pre-tax loss of RMB 71,478,000, compared to a pre-tax loss of RMB 16,683,000 for the same period in 2024[47] Revenue Breakdown - Revenue from software and solutions sales decreased by approximately RMB 38,453,000, while revenue from technical services fell by approximately RMB 27,922,000, attributed to fewer projects[9] - Revenue from software and solutions sales was RMB 33,191,000, down from RMB 71,644,000 year-over-year[34] - Revenue from technical services was RMB 72,183,000, compared to RMB 100,105,000 in the previous year[34] Cost and Expenses - The overall sales cost decreased by approximately RMB 41,583,000 due to the decline in revenue, with the overall gross margin dropping to approximately 3.0% from 9.7%[10] - Employee costs for the six months ended September 30, 2025, amounted to RMB 29,637,000, a decrease of 32% from RMB 43,734,000 in the same period of 2024[42] - The company recorded a total sales cost of RMB 125,116,000 for the six months ended September 30, 2025, down from RMB 166,517,000 in the same period of 2024, representing a 25% decrease[52] Assets and Liabilities - As of September 30, 2025, trade receivables and contract assets amounted to approximately RMB 379,401,000, a decrease from RMB 439,396,000 as of March 31, 2025, primarily due to increased impairment losses[12] - As of September 30, 2025, the carrying value of intangible assets was approximately RMB 364,000, down from RMB 827,000 as of March 31, 2025[11] - As of September 30, 2025, total assets less current liabilities were RMB 188,285,000, down from RMB 256,772,000 as of March 31, 2025[24] - The company’s interest-bearing liabilities included short-term bank loans of approximately RMB 109,780,000 and long-term bank loans of RMB 17,870,000 as of September 30, 2025[15] - The total trade payables as of September 30, 2025, were RMB 108,277,000, a decrease from RMB 115,174,000 as of March 31, 2025[58] Cash Flow and Working Capital - Operating cash outflow was RMB 37,956,000 for the six months ended September 30, 2025, compared to RMB 14,238,000 for the same period in 2024[27] - The group expects to improve operating cash flow through accelerated project settlements and accounts receivable collections[27] - The group anticipates sufficient working capital for at least the next 12 months based on cash flow forecasts[27] - As of September 30, 2025, the total cash and cash equivalents were RMB 13,195,000, significantly down from RMB 56,151,000 as of March 31, 2025[57] Research and Development - Research and development expenses for the six months ended September 30, 2025, were RMB 6,443,000, an increase of approximately RMB 383,000 compared to RMB 6,060,000 for the same period in 2024[14] - The company’s research and development costs (excluding amortization) were RMB 6,443,000 for the six months ended September 30, 2025, slightly up from RMB 6,060,000 in the same period of 2024[45] Employee and Corporate Governance - The company employed 176 employees as of September 30, 2025, down from 319 employees as of March 31, 2025[64] - The company does not recommend the payment of an interim dividend for the six months ending September 30, 2025, consistent with the previous year[60] - The company has complied with all applicable laws and regulations in China and Hong Kong during the reporting period[65] Strategic Focus and Future Outlook - The company is focusing on the transformation of the power system and plans to leverage its 29 years of experience in the energy information technology sector to meet market demands through 2030[7] - The company aims to enhance operational efficiency and capitalize on policy incentives to drive high-quality development in the digital economy, which is projected to reach a value-added of approximately RMB 49 trillion by the end of 2025[6][8] - The company has developed a smart IoT product, π chip, which provides power supply and network services for sensor devices, facilitating urban smart applications[7] - The company's strategy focuses on building sustainable returns on a solid financial foundation to enhance total shareholder returns over the long term[72] Audit and Compliance - The independent auditor has reviewed the unaudited condensed consolidated interim financial statements for the reporting period[74] - No significant events occurred after the reporting period that could impact the company[75]