Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 178,166,000, a decrease of 24.4% compared to HKD 235,785,000 for the same period in 2024[6] - Gross profit for the same period was HKD 7,353,000, down 69.4% from HKD 23,998,000 year-on-year[6] - The company reported a loss before tax of HKD 20,102,000, compared to a profit of HKD 10,385,000 in the previous year[6] - Total comprehensive loss for the period was HKD 20,139,000, contrasting with a total comprehensive income of HKD 9,010,000 in the prior year[6] - Basic loss per share was HKD 2.52, compared to earnings of HKD 1.13 per share in the same period last year[6] - The group recorded a loss attributable to owners of approximately HKD 20.1 million for the period, compared to a profit of approximately HKD 9.0 million in the previous six months, primarily due to decreased total revenue and gross profit[63] Assets and Liabilities - Non-current assets decreased to HKD 54,856,000 from HKD 65,686,000 as of March 31, 2025[7] - Current assets increased to HKD 334,945,000 from HKD 313,660,000 as of March 31, 2025[7] - Current liabilities rose to HKD 264,418,000 from HKD 233,621,000 as of March 31, 2025[7] - Total equity decreased to HKD 124,789,000 from HKD 144,928,000 as of March 31, 2025[7] - The company’s cash and cash equivalents dropped significantly to HKD 5,374,000 from HKD 25,655,000 as of March 31, 2025[7] - The total amount of trade and other payables reached HKD 156.4 million as of September 30, 2025, compared to HKD 128.0 million as of March 31, 2025[40] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2025, was HKD (16,666) thousand, compared to HKD 13,855 thousand for the same period in 2024[10] - The net cash used in investing activities for the six months ended September 30, 2025, was HKD (3,275) thousand, a significant improvement from HKD (28,031) thousand in 2024[10] - The net cash used in financing activities for the six months ended September 30, 2025, was HKD (340) thousand, compared to HKD 5,348 thousand in 2024, indicating a reduction in cash outflow[10] - The company’s cash and cash equivalents decreased to HKD 5,374 thousand at the end of September 2025, down from HKD 13,707 thousand at the end of September 2024[10] Revenue Sources - The revenue from renovation and maintenance works was HKD 121,990 thousand for the six months ended September 30, 2025, compared to HKD 78,222 thousand in 2024, indicating an increase of approximately 56%[19][20] - The group has secured 30 projects generating revenue during the reporting period, compared to 34 projects in the previous period[52] - The group obtained 8 new projects with a total original contract value of approximately HKD 127.3 million, up from 5 projects valued at HKD 56.4 million in the previous period[52] - The group's revenue decreased from approximately HKD 235.8 million to about HKD 178.2 million, a reduction of approximately HKD 57.6 million or 24.4% due to declines in mixed projects, renovation, and construction works[54] Employee Costs - The company reported a total employee cost of HKD 15,741 thousand for the six months ended September 30, 2025, down from HKD 16,186 thousand in 2024, reflecting a decrease of about 2.7%[22] - Employee costs for the group were approximately HKD 15.7 million, with a slight decrease from HKD 16.2 million for the six months ending September 30, 2024[84] Investments and Acquisitions - The group completed the acquisition of 50% of Acasa Property Limited, which owns land for redevelopment, enhancing its capacity for larger construction projects[53] - The group acquired an additional 25% equity in Acasa on January 19, 2023, bringing its total ownership to 50%[74] - The investment cost in Acasa is recorded at HKD 35,342,000, representing 9.3% of the group's total assets as of March 31, 2025[76] - The group plans to invest in the reconstruction of the Acasa property and build a new building to expand its customer base[77] Governance and Compliance - The company has established an audit committee to oversee the appointment and performance of external auditors, ensuring compliance with governance standards[98] - The company has adhered to the corporate governance code, with the roles of chairman and CEO currently held by the same individual, which the board deems appropriate for effective management[97] - No conflicts of interest were reported among directors or major shareholders during the relevant period[95] - The company has confirmed that no violations of securities trading rules occurred during the relevant period[92] Market Conditions and Future Outlook - The group anticipates continued opportunities and challenges influenced by the pace of recovery in Hong Kong, impacting the construction industry and costs[53] - The group is exploring business and investment opportunities to strengthen its revenue sources, including potential acquisitions and diversification[53]

Financial Performance - For the first half of the fiscal year 2026, the group's revenue decreased by 27.4% to approximately HKD 3,800,000,000 compared to the same period in fiscal year 2025[2] - Adjusted revenue decreased by 5.9% to HKD 4,940,000,000 in the first half of fiscal year 2026, impacted by impairment losses[8] - The company recorded a net loss attributable to shareholders of HKD 988,000,000 in the first half of fiscal year 2026, influenced by various impairment losses totaling approximately HKD 921,000,000[8] - The company reported a loss of HKD 804.16 million for the period, compared to a loss of HKD 664.10 million in the previous year[18] - Basic loss per share was HKD 32.3 cents, compared to HKD 27.3 cents for the same period last year[16] Revenue Breakdown - Adjusted revenue from property development for the first half of fiscal year 2026 decreased by 10.3% to approximately HKD 3,227,000,000, primarily due to a reduction in completed residential projects[3] - Revenue from property development for the first half of fiscal year 2026 was approximately HKD 2,000,000,000, a decline of 42.0% compared to the same period in fiscal year 2025[59] - Revenue from the hotel business for the first half of fiscal year 2026 reached approximately HKD 1,071,000,000, an increase of 9.6% year-on-year[60] - Revenue from the parking and facility management business for the first half of fiscal year 2026 was approximately HKD 343,000,000, a decrease of 9.7% compared to the first half of fiscal year 2025[61] - The gaming business revenue increased by 11.4% to approximately HKD 218,000,000 in the first half of fiscal year 2026[62] Financial Stability - The net debt decreased by HKD 1,246,000,000 to HKD 20,247,000,000, indicating enhanced financial stability[2] - The adjusted net asset liability ratio decreased to 64.9%, further strengthening the group's financial position[2] - The adjusted net debt-to-equity ratio decreased to 64.9%, reflecting improved capital management and financial discipline[9] - As of September 30, 2025, total bank loans, notes, and bonds decreased by approximately HKD 1,426,000,000 or 5.6% to HKD 23,945,000,000, indicating strict financial management[4] - The company's total liabilities amounted to HKD 23,945 million, down from HKD 25,371 million as of March 31, 2025[66] Asset Management - The company's net asset value stood at HKD 12,841,987,000, down from HKD 13,098,548,000, indicating a reduction of approximately 1.96%[21] - The total assets of the company decreased from HKD 42,543,356,000 to HKD 41,055,669,000, a reduction of approximately 3.5%[36] - The group's current assets maintained at approximately HKD 3.7 billion, ensuring adequate cash and securities levels[12] - The company reported a significant increase in cash reserves, with restricted bank deposits rising to HKD 108,576,000 from HKD 87,680,000, an increase of approximately 23.83%[19] - The company’s investment properties were valued at HKD 5,942,996,000, compared to HKD 5,825,232,000, showing a slight increase of about 2.01%[19] Development Projects - The group launched the 640 Bourke Street property development project in Melbourne in March 2025, which received significant market attention[3] - The total expected development value of active residential property development projects across various regions is approximately HKD 61,800 million as of September 30, 2025[93] - The cumulative pre-sale value and contracted sales of properties under development remained at approximately HKD 9,300,000,000 as of September 30, 2025[3] - The expected total development value of completed saleable projects is HKD 10,001 million, with a total saleable area of 893,000 square feet[96] - The "Queen's Wharf Residences" in Brisbane includes two towers with a total saleable area of 519,000 square feet and an expected development value of HKD 4,040 million, with completion anticipated in the fiscal year 2029[95] Market Expansion and Strategy - The group plans to open the Dorsett Canary Wharf London hotel in September 2025, which will provide 237 stylish rooms and dining services[3] - The group expects to open the Perth Dorsett hotel in the next 12 months, which is anticipated to enhance the group's recurring income stream[3] - The company plans to continue focusing on market expansion and new product development to enhance future performance[30] - The group is committed to optimizing its asset-liability structure and executing divestment strategies for non-core assets to reduce overall leverage during market volatility[160] - The group aims to enhance its hotel portfolio to ensure sustainable development and align with economic recovery cycles[73] ESG and Corporate Governance - The company continues to focus on ESG factors in its strategic planning and risk management, aiming to enhance climate resilience and accelerate carbon reduction efforts[11] - The group is actively advancing its ESG agenda to enhance resilience and create sustainable value for shareholders, focusing on climate-related financial disclosures and risk assessments[152] - The company has adhered to the corporate governance code, with the chairman also serving as the CEO, which the board believes provides strong and consistent leadership[177] - The management believes that the adjusted financial metrics provide useful information for assessing the company's strategic operational performance[161] - The company emphasizes that non-GAAP financial measures should be viewed as supplementary to the financial performance analysis prepared under Hong Kong Financial Reporting Standards[161]

Financial Performance - Total revenue for the six months ended September 30, 2025, was HKD 320.3 million, an increase of 8.9% compared to HKD 294.2 million in 2024[2] - Net profit attributable to shareholders rose by 7.9% to HKD 45.7 million, compared to HKD 42.4 million in the previous year[2] - Total comprehensive income attributable to shareholders for the period was HKD 45,935,000, up from HKD 43,506,000, reflecting a growth of 5.6%[18] - The company reported a profit of HKD 45,739,000 for the six months ended September 30, 2025, an increase of 8.7% compared to HKD 42,393,000 in the same period of 2024[18] - Profit for the period increased by HKD 3.3 million or 7.9% to HKD 45.7 million, with an effective tax rate of 15.0% compared to 15.2% in the previous period[51] Revenue Breakdown - Media content distribution revenue decreased by 6.7% to HKD 165.2 million, while brand licensing revenue increased by 32.3% to HKD 155.1 million[4] - Revenue from media content distribution was HKD 165,197,000, while brand licensing revenue was HKD 155,099,000, leading to total segment revenue of HKD 320,296,000[29] - Media content distribution revenue was HKD 176,969,000, while brand licensing revenue was HKD 117,206,000, contributing to the overall revenue growth[30] - Revenue from media content distribution decreased to HKD 165,197,000, down from HKD 176,969,000, while revenue from brand licensing increased to HKD 155,099,000, up from HKD 117,206,000, reflecting a growth of 32.3%[47] Assets and Liabilities - Non-current assets totaled HKD 56,057,000 as of September 30, 2025, a decrease from HKD 60,256,000 as of March 31, 2025[19] - Current assets increased to HKD 971,060,000 from HKD 911,270,000, representing a growth of 6.6%[19] - The total liabilities amounted to HKD 371,870,000, compared to HKD 354,841,000, reflecting an increase of 4.8%[20] - The company’s total assets reached HKD 1,027,117,000, with total equity of HKD 655,247,000 as of September 30, 2025[20] Cash Flow and Liquidity - The company’s cash and cash equivalents rose to HKD 360,374,000, up from HKD 326,393,000, indicating an increase of 10.4%[19] - Cash and cash equivalents as of September 30, 2025, were HKD 360.4 million, up from HKD 326.4 million as of March 31, 2025, indicating strong liquidity[58] Strategic Plans - The company plans to expand its regional presence and monetization capabilities to strengthen revenue sources and market coverage[13] - The company will continue to procure top-tier animated content with strong commercial potential and fan engagement[13] - The company plans to continue expanding its media content distribution and brand licensing operations to drive future growth[24] - The company is exploring strategic investment opportunities in animation and film production to enhance business value[13] Employee and Operational Metrics - The company employed a total of 199 full-time and part-time employees as of September 30, 2025, an increase from 181 employees as of March 31, 2025[65] - Selling and distribution expenses decreased by 9.8% to HKD 54.8 million, attributed to lower withholding tax expenses and reduced marketing costs[49] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 1.20 per share for the year ending March 31, 2026, compared to HKD 1.09 per share for the year ending March 31, 2025[41] - The company has confirmed an interim dividend of HKD 0.012 per share for the six months ending September 30, 2025, expected to be paid on January 16, 2026[72] Use of Proceeds - The company has utilized approximately HKD 184.0 million of the net proceeds from its listing, representing about 99.0% of the total net proceeds[68] - The company plans to allocate 54.8% of the net proceeds, approximately HKD 101.8 million, to expand its media content portfolio[70] - 17.5% of the net proceeds, around HKD 32.6 million, will be used to expand brand licensing business[70] - 6.9% of the net proceeds, approximately HKD 12.9 million, is allocated for relocating and renovating the new office in Hong Kong[70] Governance and Compliance - The company has maintained sufficient public float, with at least 25% of issued shares held by the public[75] - The company has complied with the corporate governance code, except for the dual role of the chairperson and CEO held by Ms. Zhao[76] - No significant events affecting the company's operational and financial status have occurred after the reporting period[79]

Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 178,166,000, a decrease of 24.4% compared to HKD 235,785,000 for the same period in 2024[8] - Gross profit for the same period was HKD 7,353,000, down 69.3% from HKD 23,998,000 year-on-year[8] - The company reported a loss before tax of HKD 20,102,000, compared to a profit of HKD 10,385,000 in the previous year[8] - Basic loss per share was HKD 2.52, compared to earnings of HKD 1.13 per share in the same period last year[8] - The company incurred a total comprehensive loss of HKD (20,139) thousand for the six months ended September 30, 2025, compared to a total comprehensive income of HKD 9,010 thousand for the same period in 2024[10] - The group recorded a loss attributable to owners of approximately HKD 20.1 million for the period, compared to a profit of HKD 9.0 million in the previous period[65] Assets and Liabilities - Non-current assets decreased to HKD 54,856,000 from HKD 65,686,000 as of March 31, 2025[9] - Current assets increased to HKD 334,945,000 from HKD 313,660,000 as of March 31, 2025[9] - Current liabilities rose to HKD 264,418,000 from HKD 233,621,000 as of March 31, 2025[9] - Total equity decreased to HKD 124,789,000 from HKD 144,928,000 as of March 31, 2025[9] - The company’s total equity as of September 30, 2025, was HKD 124,789 thousand, down from HKD 166,130 thousand as of September 30, 2024, representing a decrease of approximately 24.9%[10] - The company’s retained earnings decreased to HKD 80,457 thousand as of September 30, 2025, from HKD 121,798 thousand as of September 30, 2024, reflecting a decline of approximately 33.9%[10] Cash Flow - For the six months ended September 30, 2025, the company reported a net cash outflow from operating activities of HKD (16,666) thousand, compared to a net inflow of HKD 13,855 thousand for the same period in 2024[12] - The company reported a net cash outflow from investing activities of HKD (3,275) thousand for the six months ended September 30, 2025, compared to a net outflow of HKD (28,031) thousand in the same period of 2024, indicating an improvement in cash flow management[12] - The company’s financing activities resulted in a net cash outflow of HKD (340) thousand for the six months ended September 30, 2025, compared to a net inflow of HKD 5,348 thousand in the same period of 2024, reflecting a shift in financing strategy[12] Revenue Sources - The company generated HKD 177,969 thousand in customer contract revenue from renovation and construction services for the six months ended September 30, 2025, compared to HKD 235,588 thousand in the same period of 2024, indicating a decline of approximately 24.5%[21][22] - Property rental income for the six months ended September 30, 2025, was HKD 197 thousand, consistent with the same amount reported in the previous year[21][22] Employee Costs - Total employee costs for the period were HKD 15,741,000, a decrease of 2.75% from HKD 16,186,000 in the previous year[24] - The total employee cost for the period is approximately HKD 15.7 million, compared to HKD 16.2 million for the six months ending September 30, 2024[86] Investments and Loans - The company has a loan to a joint venture amounting to HKD 56,378,000 as of September 30, 2025, with a provision for credit losses of HKD 30,480,000[32] - The company has committed to provide a shareholder loan of HKD 40 million to the joint venture Acasa during the property reconstruction period, with no loans provided as of September 30, 2025[70] Shareholder Information - As of September 30, 2025, Mr. Liang and Mr. Ho each hold 574,170,000 shares, representing approximately 71.8% of the company's ordinary shares[87] - The major shareholders, Sharp Talent and Diamondfield, are considered to hold a combined interest of 71.0% in the company's issued share capital[92] Corporate Governance - The Audit Committee has been established in accordance with the corporate governance code and GEM listing rules, consisting of three independent non-executive directors[100] - The Audit Committee is responsible for recommending the appointment, reappointment, and removal of external auditors to the Board[100] - The current executive directors include Mr. Leung Ka Ho and Mr. Ho Chi Kwan, with independent non-executive directors including Ms. Ho Wing Shan, Mr. Leung Hung Kwong, Mr. Mei Yi Wo, and Mr. Qiu Si Yang[103]

Financial Performance - The group's revenue for the six months ended September 30, 2025, was approximately HKD 6.63 million, an increase of about 1.3% compared to HKD 6.55 million for the same period in 2024[10]. - The total comprehensive loss attributable to owners of the company for the six months ended September 30, 2025, was approximately HKD 5.0 million, representing an increase of about 104.0% compared to HKD 2.45 million for the same period in 2024[10]. - The company reported a net loss attributable to shareholders of 4,844,000 HKD for the six months ended September 30, 2025, compared to a net loss of 2,588,000 HKD in the same period of 2024, indicating a deterioration in performance[41]. - The company incurred a net loss of HKD 5,004,000 for the six months ended September 30, 2025, compared to a loss of HKD 2,588,000 in the previous period[18]. - The basic and diluted loss per share attributable to owners of the company was HKD 0.002, compared to HKD 0.001 in the previous year[11]. Revenue Breakdown - Revenue from the food supply business was HKD 5,801,000, up 10.4% from HKD 5,254,000 year-over-year[21]. - Revenue from financial institution cooperation services decreased to HKD 829,000, down 35.8% from HKD 1,291,000 in the previous year[21]. - The company's restaurant supply service revenue accounted for 87.5% of total revenue for the six months ended September 30, 2025[60]. - For the six months ended September 30, 2025, the company's revenue from the restaurant supply service was approximately HKD 5.8 million, representing an increase of about 10.4% from approximately HKD 5.3 million in the previous year[60]. Expenses and Costs - The cost of sales and consumed inventory for the six months ended September 30, 2025, was HKD 2.24 million, a decrease from HKD 4.97 million in the previous year[11]. - Employee benefit expenses for the same period were HKD 1.78 million, compared to HKD 1.59 million in 2024[11]. - The company reported a significant increase in depreciation and amortization expenses, with property, plant, and equipment depreciation at 330,000 HKD for the six months ended September 30, 2025, compared to 11,000 HKD in the same period of 2024[38]. - Other expenses decreased to approximately HKD 1.8 million from HKD 2.4 million, representing about 27.8% and 36.8% of total revenue for the respective periods[66]. Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 128,157,000, slightly up from HKD 128,022,000 as of March 31, 2025[12]. - Non-current liabilities increased to HKD 130,573,000 from HKD 126,741,000, primarily due to an increase in amounts payable to former directors[13]. - The total liabilities as of September 30, 2025, were HKD 195,127,000, an increase from HKD 190,718,000 as of March 31, 2025[13]. - The total equity attributable to owners of the company decreased to HKD (71,951,000) as of September 30, 2025, from HKD (67,531,000) as of March 31, 2025[14]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 1,621,000 for the six months ended September 30, 2025, a significant decrease from HKD 64,599,000 in the same period last year[15]. - Cash and cash equivalents at the end of the period were HKD 1,976,000, up from HKD 171,000 at the beginning of the period[15]. - Restricted cash deposits were HKD 69,020,000, up from HKD 67,567,000, earning interest rates between 1.8% and 4.1%[48]. Corporate Governance and Compliance - The audit committee has reviewed the unaudited consolidated results for the six months ended September 30, 2025, and confirmed compliance with applicable accounting standards and GEM listing rules[94]. - The company has established an audit committee to oversee financial reporting and internal control procedures, consisting of independent non-executive directors[94]. - The company has complied with the corporate governance code, except for the combined role of the chairman and CEO, which is under review[92]. - The company did not declare any dividends for the six months ended September 30, 2025, consistent with the previous year[39]. Business Development and Strategy - The company actively seeks other business development directions, including entering the food ingredient sales business[59]. - The company believes that the recovery of inbound tourism and government support measures will benefit its restaurant business development[57]. - The company opened a new Chinese restaurant in February 2025, which contributed to the revenue during the reporting period[57]. - The company has not reported any new product developments or market expansion strategies in the current announcement[10].

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 對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之任 何 損 失 承 擔 任 何 責 任。 EVERCHINA INT'L HOLDINGS COMPANY LIMITED 潤中國際控股有限公司 （於 香 港 註 冊 成 立 之 有 限 公 司） （股 份 代 號：202） 截至二零二五年九月三十日止六個月 未經審核中期業績 財務摘要 – 1 – • 收益為約74,282,000港 元，較 二 零 二 四 年 同 期 增 加61%。 • 本期間虧損為23,626,000 港 元，較 二 零 二 四 年 同 期 虧 損 減 少 約65%。 • 董事會不建議就截至二零二五年九月三十日止六個月派付中期股 息（截 至 二 零 二 四 年 九 月 三 十 日 止 六 個 月：無）。 • 於 二 零 二 五 年 九 月 三 十 日，權 益 總 額 為1,083,364,000港 元，較 於 二 零 二五年三月三十一日之1,096,429, ...

Financial Performance - The company reported unaudited revenue of HKD 31,992,000 for the six months ended September 30, 2025, compared to HKD 9,209,000 for the same period in 2024, representing a significant increase of 247%[10]. - The net loss for the period was HKD 5,412,000, an improvement from a net loss of HKD 6,740,000 in the previous year, indicating a reduction in losses by approximately 20%[10]. - The company reported a pre-tax loss of HKD 4,803,000 for the six months ended September 30, 2025, compared to a pre-tax loss of HKD 6,493,000 in the same period of 2024, showing an improvement of 26%[25]. - The group recorded a loss before tax of approximately HKD 4.8 million for the six months ended September 30, 2025, a decrease of about HKD 1.7 million or 26.0% from HKD 6.5 million in 2024[88]. - The loss attributable to owners for the six months ended September 30, 2025, was approximately HKD 5.4 million, a decrease of about HKD 1.3 million or 19.7% from a loss of approximately HKD 6.7 million for the same period in 2024[72]. Revenue Breakdown - For the six months ended September 30, 2025, the company reported total contract revenue of HKD 31,992,000, a significant increase from HKD 9,209,000 in the same period of 2024, representing a growth of 248%[19]. - Revenue from licensing and maintenance services reached HKD 17,070,000, up from HKD 5,092,000, marking a 235% increase year-over-year[19]. - The company generated HKD 11,646,000 from initial setup and customization services, compared to HKD 495,000 in the previous year, reflecting a growth of 2240%[19]. - The geographical breakdown of revenue shows that revenue from mainland China surged to HKD 24,459,000 from HKD 782,000, indicating a growth of 3030%[19]. - The e-commerce segment generated HKD 22,149,000 in revenue, while the financial trading solutions segment contributed HKD 6,567,000, with total segment revenue amounting to HKD 31,592,000[25]. Assets and Liabilities - Total assets increased to HKD 124,596,000 as of September 30, 2025, compared to HKD 70,052,000 as of March 31, 2025, reflecting a growth of 78%[11][12]. - The company reported a total equity of HKD 89,906,000 as of September 30, 2025, up from HKD 61,578,000, representing a growth of 46%[12]. - The company’s total liabilities increased to HKD 34,690,000 from HKD 8,474,000, reflecting a rise of 309%[12]. - The company’s cash and cash equivalents rose to HKD 20,070,000 from HKD 18,232,000, marking an increase of 10%[12]. - The group’s net current assets were approximately HKD 45.0 million as of September 30, 2025, compared to HKD 19.7 million as of March 31, 2025[92]. Corporate Governance - The company has adopted high standards of corporate governance and has complied with all applicable code provisions during the reporting period[115]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending September 30, 2025[116]. - The company has adopted a code of conduct for securities transactions by directors, adhering to the standards set forth in the GEM Listing Rules[124]. - The company established an audit committee on March 29, 2019, in accordance with GEM Listing Rules, with responsibilities including reviewing financial reporting and internal controls[129]. - The company has not been aware of any violations of the securities trading code by any directors during the relevant period[126]. Shareholder Information - The company’s major shareholder, Ms. Di, holds 249,396,000 shares, representing approximately 51.96% of the issued shares[119]. - The company received notification that its major shareholder sold a total of 81,396,000 shares in the open market, retaining rights to 168,000,000 shares, which is 35% of the issued shares[122]. - The board of directors did not recommend an interim dividend for the six months ended September 30, 2025[110]. - The company did not declare any interim dividends for the six months ended September 30, 2025, consistent with the previous year[41]. Employee and Compensation - The company employed 48 full-time employees as of September 30, 2025, an increase from 31 employees as of March 31, 2025[109]. - The total management compensation for the six months ended September 30, 2025, was HKD 1,750,000, compared to HKD 1,652,000 for the same period in 2024[67]. - The total employee benefits expenses for the six months ended September 30, 2025, amounted to approximately HKD 9.2 million, compared to HKD 10.1 million for the same period in 2024[109]. Financial Reporting Standards - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2025, which are not expected to have a significant impact on the financial performance and position[18]. - The company is currently evaluating the potential impacts of newly issued Hong Kong Financial Reporting Standards that have not yet become effective[18]. - The company has adopted accounting policies and practices in line with the GEM Listing Rules[129]. Other Financial Information - The company raised approximately HKD 33.7 million from a share placement completed on July 22, 2025, increasing the issued share capital from 400 million to 480 million shares[102][103]. - The expected use of the net proceeds from the placement includes HKD 13.1 million for business development and marketing activities, with only HKD 0.3 million actually utilized as of September 30, 2025[105]. - The company has no pledged assets as of September 30, 2025[106]. - There were no significant investments or acquisitions made by the company during the six months ended September 30, 2025[107].

Business Model and Strategy - The Group focuses on sourcing and selling Integrated Circuit (IC) products, emphasizing environmentally-friendly and energy-saving solutions[13]. - Revenue is derived from a "mark-up" or "margin" on ICs sold, which includes the cost of value-added services[20]. - The Group provides IC application solutions and value-added services without charging a separate fee, enhancing customer support[21]. - The business model caters to both consumer and industrial product sectors, offering tailored solutions to meet specific customer needs[15]. - The Group's pricing strategy considers factors such as IC costs, market conditions, and customer purchase volume[20]. - The management discussion highlights a focus on fast-growing and emerging market categories[13]. - The Group aims to assist customers in selecting and sourcing appropriate ICs, providing comprehensive support throughout the process[15]. - The company adopts a market-oriented approach with a responsive business model, focusing on application development and regularly engaging with suppliers and customers to stay updated on market demands[31]. - The company has its own in-house design and R&D team, which collaborates closely with sales and marketing teams to bridge the functionality gap between suppliers' products and customer requirements[34][35]. - The company believes that maintaining close relationships with suppliers allows it to anticipate market trends and obtain the latest product and technology information[37]. - The company integrates suppliers' products into its IC application solutions, facilitating demand for suppliers and developing distribution channels[36]. - The company provides value-added services, including concept consulting and technical feasibility studies, to meet specific customer needs[24]. Product Categories and Innovations - Major product categories include mobile devices and smart charging, motor control, sensors and automation, LED lighting, RF power, and XMC[14]. - The mobile devices category focuses on low power radio frequency connectivity, improving wireless functions for various devices including cars and smartphones[60]. - Smart charging ICs reduce power delivery when batteries are nearly full or overheating, enhancing safety and efficiency in charging[65]. - The motor control solutions include applications for various devices, from household fans to industrial equipment, utilizing variable-frequency drives (VFDs) for energy savings[66]. - The company is at the forefront of the energy transition, providing high-power semiconductors critical for solar, wind energy systems, and EV charging infrastructure[71]. - The sensor ICs are integrated with automation solutions for applications in automotive, drones, security systems, traffic monitoring, and smart lighting[73]. - The portfolio includes power management ICs (PMICs) and a wide range of sensors, integral to modern consumer and IoT devices[67]. - The company assists customers in developing application solutions for ICs to match their product requirements and restrictions[60]. - The smart charging technology significantly shortens charging times for devices, improving user experience[62]. - The company’s motor control applications focus on energy efficiency and performance control, extending the lifespan of machines[68]. Financial Performance - Total revenue decreased by approximately US$7.4 million, or 20.7%, from approximately US$35.8 million for the six months ended 30 September 2024 to approximately US$28.4 million for the six months ended 30 September 2025[88]. - Revenue from mobile control products declined significantly from approximately US$14.1 million in the preceding period to about US$9.3 million in the current period, accounting for roughly 32.9% of total revenue compared to 39.5% in the preceding period[89]. - IC products remained the largest revenue source, representing approximately 69.5% of total revenue in the current period, down from 64.0% in the preceding period, with revenue declining from approximately US$20.1 million to US$18.2 million[92]. - Average selling prices were reduced to accelerate inventory turnover, resulting in an increase in inventory turnover days from approximately 40.6 days to approximately 42.5 days[93]. - The Group's revenue breakdown for the six months ended 30 September 2025 included mobile devices and smart charging at US$18.2 million (64.0%), motor control at US$9.3 million (32.9%), sensors and automation at US$61, LED lighting at US$8, and RF power at US$89[87]. - The decline in total revenue was primarily due to weaker contributions across all product categories[92]. - The Group's motor control revenue accounted for a significant portion of the decline, primarily driven by a reduction in average selling prices[89]. - The Group's strategy to manage stock levels amid softer market demand included implementing reductions in average selling prices[93]. - The total revenue for the current period was approximately US$28.4 million, reflecting a challenging market environment[88]. - The Group's revenue from sensors and automation was minimal, contributing only US$61, or 0.2% of total revenue[87]. Expenses and Losses - Gross profit decreased by approximately US$0.2 million or 28.0%, from approximately US$0.9 million to approximately US$0.7 million, primarily due to a decrease in average selling price, with gross profit margin dropping from approximately 2.5% to 2.3%[96]. - Selling and distribution expenses increased by approximately US$0.3 million from approximately US$0.8 million to approximately US$1.1 million, mainly due to the effect of amortization of development costs[98]. - General and administrative expenses decreased by approximately US$0.8 million, from about US$2.8 million to around US$2.0 million, primarily due to a significant reduction in staff numbers[104]. - Finance costs amounted to approximately US$1.3 million, representing a decrease of approximately US$0.4 million from the preceding period, in line with the decrease in interest rates[105]. - The net loss for the period remained approximately US$3.9 million, consistent with previous periods[107]. - Employee benefit expenses amounted to approximately US$1.1 million, accounting for approximately 3.9% of total revenue for the period, up from approximately 2.5% in the previous year[108]. Shareholder Information and Equity - The company did not declare any interim dividend for the six months ended 30 September 2025, consistent with the previous year[125]. - The company entered into a placing agreement to issue a maximum of 219,624,476 placing shares at a price of HK$0.065 per share, completed on 10 October 2025[126]. - The company agreed to place up to 219,624,476 shares at a price of HKD 0.065 per share, with completion on October 10, 2025[129]. - As of September 30, 2025, the board proposed a share consolidation of every ten existing shares into one share with a par value of HKD 0.1, pending shareholder approval[129]. - As of September 30, 2025, Mr. Lam and Mr. Qing each hold 746,746,000 shares, representing 68.00% of the company's shareholding[145]. - As of September 30, 2025, P. Grand (BVI) Ltd. holds 662,746,000 shares, representing a 60.35% shareholding[151]. - Ms. Feng Tao has an interest in a controlled corporation with 746,746,000 shares, equating to a 68.00% shareholding[151]. - Kingtech (BVI) Ltd. holds 84,000,000 shares, which is 7.65% of the total shares[151]. - No share options were granted, exercised, lapsed, or cancelled under the Share Option Scheme as of September 30, 2025[152]. - The Company maintained sufficient public float as required under the listing rules throughout the period[155]. Cash Flow and Assets - Net cash from operating activities for the six months ended September 30, 2025, was US$9,402,000, a decrease of 51% compared to US$19,242,000 in the same period of 2024[168]. - Cash and cash equivalents at the end of the period were US$1,101,000, down from US$2,795,000 at the end of September 2024, reflecting a decrease of 60.6%[170]. - The company recorded a net cash used in financing activities of US$13,676,000 for the six months ended September 30, 2025, compared to US$15,595,000 in the same period of 2024[170]. - The company received US$2,045,000 from life insurance policy deposits during the six months ended September 30, 2025, significantly higher than US$209,000 in the prior year[170]. - The company reported a decrease in trade receivables of US$6,579,000 for the six months ended September 30, 2025, compared to a decrease of US$1,386,000 in the same period of 2024[168]. - The company experienced a fair value loss on investments amounting to US$1,747,000 during the period, contributing to the overall comprehensive loss[167]. - Non-current assets decreased to $4,931,000 from $10,059,000, primarily due to a reduction in financial assets at fair value[164]. - Current liabilities decreased to $15,745,000 from $27,774,000, reflecting improved liquidity management[164]. - Net assets as of September 30, 2025, were $5,255,000, down from $11,306,000 as of March 31, 2025[165]. - Total equity decreased to $5,255,000 from $11,306,000, indicating a significant reduction in shareholder value[165]. Market Performance and Challenges - The overall performance indicates challenges in market conditions, particularly in the PRC, necessitating strategic reassessment[200]. - Revenue for the six months ended September 30, 2025, was $28,414,000, a decrease of 20.5% from $35,766,000 in the same period of 2024[161]. - Revenue from sales of IC products and electronic components accounted for the entirety of the Group's turnover during the period[200]. - Revenue from Hong Kong was $27,571,000, while revenue from the PRC was $843,000, indicating a significant decline in the PRC market[198]. - The decline in revenue from the PRC market was particularly sharp, dropping from $5,076,000 in 2024 to $843,000 in 2025, a decrease of 83.4%[198]. - The Group's revenue from contracts with customers is recognized at a point in time, aligning with HKFRS 15 standards[199].

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，概不對因本公佈全部 或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA HONGBAO HOLDINGS LIMITED 中 國 紅 包 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8316） 於本公佈日期，董事會成員包括執行董事程俊先生及于華先生；及獨立非執行董 事鄒振濤先生、張嘉裕教授及黃志恩女士。 截至2025年9月30日止六個月之 中期業績公佈 中國紅包控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及 其 附 屬 公 司 截 至 2 0 2 5 年 9 月 3 0 日 止 六 個 月 之 未 經 審 核 簡 明 綜 合 業 績（「 中 期 業 績 」）。 本 公 告 載 有 本 公 司 2025 年 中 期 報 告 全 文 ， 符 合 香 港 聯 合 交 易 所 有 限 公 司 （「聯 交 所」）GEM 證 券上 市 規 則（「GEM 上 ...

Financial Performance - Revenue for the six months ended 30 September 2025 was approximately HK$15,126,000, down from approximately HK$21,722,000 for the same period last year, representing a decrease of about 30%[8]. - Profit attributable to owners of the Company was approximately HK$37,251,000 for the six months ended 30 September 2025, compared to a loss of approximately HK$2,557,000 for the same period last year[8]. - No interim dividend was recommended for the six months ended 30 September 2025, consistent with the previous year[8]. - As of September 30, 2025, the Group recorded total revenue of approximately HK$15,126,000, representing a decrease of approximately 30.37% compared to HK$21,722,000 for the same period last year, primarily due to a decline in revenue from the intelligent advertising business[56][60]. - The company reported a profit of HK$35,830,000 for the six months ended September 30, 2025, compared to a loss of HK$3,800,000 in the same period of 2024, indicating a significant turnaround in performance[66]. - Total comprehensive loss for the period was HK$37,691,000, compared to a loss of HK$1,333,000 in the previous year, with the loss attributable to owners of the company amounting to HK$37,980,000[66]. Revenue Sources - Revenue from intelligent advertising services amounted to approximately HK$14,818,000 for the six months ended 30 September 2025[22]. - The Group generated no revenue from agricultural, forestry, and consumer products during the six months ended 30 September 2025[23]. - The supply-chain business also reported no revenue for the six months ended 30 September 2025, as the Group paused non-strategic commodity flows[25]. - Revenue from short-term leasing of the commercial portion of the property amounted to approximately HK$308,000 for the six months ended 30 September 2025, prior to the disposal of the property[29]. - Revenue from mobile advertising media services decreased to HK$14,818,000 for the six months ended September 30, 2025, down 29% from HK$20,943,000 in 2024[81]. - Rental income for the six months ended September 30, 2025, was HK$308,000, down from HK$777,000 in the same period of 2024[81]. Cash Flow and Liquidity - The Group's cash and bank deposits decreased by approximately 63.56% to approximately HK$2,573,000 as of 30 September 2025, down from HK$7,061,000 as of 31 March 2025[42]. - The Group's net current assets improved to approximately HK$3,762,000 as of 30 September 2025, compared to net current liabilities of HK$63,951,000 as of 31 March 2025[42]. - Cash and bank deposits decreased significantly from HK$7,061,000 to HK$2,573,000, highlighting potential cash flow issues[68]. - Net cash used in operating activities for the six months ended September 30, 2025, was HK$33,230,000, compared to a net cash used of HK$3,180,000 in the same period of 2024[72]. - The Group reported a net cash used in investing activities of HK$36,078,000 for the six months ended September 30, 2025, compared to HK$342,000 in 2024[72]. - Total cash and cash equivalents at September 30, 2025, were HK$2,573,000, a significant decrease from HK$5,929,000 at the same date in 2024[72]. Asset Management - Non-current assets decreased from HK$69,089,000 as of March 31, 2025, to HK$32,767,000 as of September 30, 2025, reflecting a significant reduction in asset value[68]. - Current assets also saw a decline from HK$96,968,000 to HK$43,556,000 during the same period, indicating liquidity challenges[68]. - The total equity attributable to owners of the company increased to HK$17,311,000 from a deficit of HK$27,773,000, indicating a recovery in shareholder value[69]. - The carrying amount of right-of-use assets decreased from HK$6,284,000 at 1 April 2025 to HK$5,851,000 at 30 September 2025[112]. - Trade receivables increased to HK$31,105,000 as of September 30, 2025, up from HK$28,041,000 as of March 31, 2025, representing an increase of approximately 7.4%[122]. Investment and Strategic Focus - The Group is actively pursuing investment opportunities in the New Energy Vehicles (NEV) industry and high-tech consumer products[24]. - The Group is evaluating higher-value opportunities in food and home supply sectors, leveraging its data analytics capabilities[25]. - The Group is actively seeking new property investment opportunities that offer attractive risk-adjusted returns once market conditions stabilize[31]. - Management maintains a conservative approach to new investments, proceeding only with opportunities that demonstrate clear strategic fit and attractive risk-adjusted returns[31]. - The Group's treasury policy is conservative, maintaining cash necessary for anticipated expenditures and emergencies, with almost all bank deposits in Hong Kong dollars[43]. Corporate Governance - The Company has complied with the Corporate Governance Code throughout the six months ended September 30, 2025[187]. - The Company is in the process of locating a new Chief Executive Officer, as there was no CEO during the six months ended September 30, 2025[191]. - The Board members share responsibilities to ensure effective corporate governance practices and procedures are established[198]. - The executive Directors are responsible for encouraging all directors to contribute actively to the Board's affairs[199]. - Non-executive Directors hold at least one meeting annually to discuss significant issues without influence from executive Directors[200]. Share Options and Employee Compensation - The 2012 Share Option Scheme allows eligible participants to subscribe for shares at a price of HK$10 per lot of share options granted[171]. - The maximum number of shares that can be issued upon exercise of options granted to each eligible person in any twelve-month period is limited to 1% of the shares in issue at the date of grant[173]. - The total number of shares that may be issued under the 2012 Share Option Scheme is capped at 236,893,600 shares, representing 10% of the shares in issue on the adoption date[174]. - The maximum number of shares that may be issued under all share option schemes must not exceed 30% of the Company's shares in issue at any time[177]. - The grant of options is intended to align the interests of employees and shareholders, promoting the Company's continuous growth[185].