Revenue Performance - Revenue decreased by 8.4% to approximately HK$164.3 million[18] - Revenue from mortgage loan receivables decreased by 22.8% to approximately HK$77.0 million[18] - Profit attributable to equity shareholders decreased by 35.3% to approximately HK$55.9 million[18] - Total revenue from the pawn loan business increased to HK$87,323,000 in 2025, up 9.2% from HK$79,559,000 in 2024[21] - Revenue from mortgage loan business decreased to HK$76,972,000 in 2025, down 22.9% from HK$99,748,000 in 2024[21] - Group's revenue decreased from approximately HK$179.3 million in FY2024 to approximately HK$164.3 million in FY2025, representing a decrease of approximately HK$15.0 million or 8.4%[80] - Revenue from pawn loan business increased by approximately HK$7.7 million or 9.7% from approximately HK$79.6 million in FY2024 to approximately HK$87.3 million in FY2025[80] Profitability Metrics - Net profit margin decreased by 14.2 percentage points to 34.0%[18] - Operating profit margin dropped to 41.8% in 2025, down from 61.0% in 2024[24] - The Group's profit for FY2025 decreased to approximately HK$55.9 million from approximately HK$86.4 million in FY2024, representing a decrease of approximately HK$30.5 million or 35.3%[107][111] - Return on total assets decreased to 4.7% in 2025, compared to 7.3% in 2024[36] - The net profit margin fell to 34.0% in 2025, down from 48.2% in 2024[30] - The effective tax rate decreased from approximately 16.3% in FY2024 to approximately 13.6% in FY2025[106][110] Loan Performance - Gross pawn loan receivables increased by 5.2% to approximately HK$189.9 million[18] - Total amount of new pawn loans granted increased by 6.5% to approximately HK$872.0 million[18] - Total amount of new mortgage loans granted decreased by 36.4% to approximately HK$217.0 million[18] - Average amount of mortgage loans granted decreased by 20.5% to approximately HK$3.1 million[18] - Gross loan receivables decreased to HK$870,645,000 in 2025, down from HK$949,978,000 in 2024[24] - Average month-end balance for gross mortgage loans receivables decreased from approximately HK$821.9 million in FY2024 to approximately HK$714.3 million in FY2025[81] Impairment and Losses - Impairment losses recognized on loan receivables increased to approximately HK$46.3 million in FY2025 from approximately HK$15.1 million in FY2024[97] - Impairment losses on mortgage receivables for FY2025 were approximately HK$41.7 million, compared to HK$15.1 million in FY2024, indicating a significant increase in impairment losses[102][108] - During FY2025, the Group recognized impairment losses of approximately HK$4.6 million on pawn loan receivables, representing further impairment on previously impaired agreements[155] Financial Ratios and Position - Current ratio improved to 18.1 in 2025, up from 11.1 in 2024[24] - Gearing ratio improved to 4.3% in 2025, down from 7.7% in 2024[24] - The current ratio improved from 11.1x as at 29 February 2024 to 18.1x as at 28 February 2025, primarily due to repayments of bank loans and debt securities totaling approximately HK$36.0 million[136] - The gearing ratio decreased from 7.7% as at 29 February 2024 to 4.3% as at 28 February 2025, attributed to the repayment of bank loans and debt securities[137] Cash Flow and Financing - Cash and cash equivalents (net of bank overdraft) amounted to approximately HK$215.7 million as of February 28, 2025, representing a net increase of approximately HK$45.1 million compared to February 29, 2024[123] - Net cash generated from operating activities increased significantly to HK$151.8 million for the year ended 28 February 2025, compared to HK$72.1 million for the year ended 29 February 2024[124] - The increase in cash was attributed to a decrease in revenue by approximately HK$15.0 million and an increase in impairment losses recognized on loan receivables by approximately HK$31.2 million, offset by an increase in other income of approximately HK$7.0 million[114][115] - The Group's future operations and capital requirements will be mainly financed through bank loans, retained earnings, and share capital[119][121] Market and Strategic Insights - The Hong Kong property market saw a decline in residential property prices by 7.0% in 2024, impacting local loan demand[79] - The second-hand luxury market remained resilient, particularly for luxury watches, supporting the growth of the pawn loan business[68] - The Group's strategic offshore expansion has started to realize profitability, contributing to overall profit growth during the year[55] - The Directors anticipate a cautious trajectory for the Hong Kong property market, with strategic partnerships aimed at entering the real estate private credit investment management sector[188] Employee and Operational Insights - For FY2025, the total employee cost, including directors' remuneration, was approximately HK$33.8 million, an increase from approximately HK$31.7 million in FY2024[175] - The Group has continued to invest in advertising and promotion to enhance brand exposure, generating demand for pawn loan services exceeding HK$0.1 million[69] - The Group's management emphasizes maintaining effective communication and good relationships with employees, customers, and stakeholders to achieve medium to long-term goals[176] Dividends and Investments - The recommended final dividend is HK$0.81 cents per ordinary share, along with an interim dividend of HK$0.64 cents per share, totaling 49.94% of the profit attributable to shareholders for FY2025[197] - The Group does not have any present plans for material investments and capital assets beyond what is disclosed in the annual report[187] - The Group has an investment commitment of approximately HK$73.8 million related to a capital contribution obligation for an unlisted fund as at 28 February 2025[131]

智通财经APP获悉，据港交所6月25日披露，亦诺微医药向港交所主板提交上市申请，花旗、中金公司为其联席保 荐人。 | [編纂]項下的[編纂]數目 | : [编纂](視乎[编纂]行使與否而定) | | --- | --- | | [編纂]數目 | [编纂](可予编纂]) | | [編纂]數目 | .. [编纂](可予[编纂]及視乎[编纂]行使與否而定) | | 最高编纂] : | 每股[編纂]港元,另加1.0%經紀佣金、0.0027% | | | 證監會交易徵費、0.00015%會財局交易徵費 | | | 及0.00565%聯交所交易費([編纂]時須以港元 | | | 全額繳付,多繳股款可予退還) | | | 面值 : 每股0.0001美元 | | [编纂] : [·] | | | 聯席保薦人、[編纂] | | 招股书显示，亦诺微医药是一家专注于临床需求导向的生物科技公司，致力于通过自主知识产权生物工程化技术， 发现、开发、生产及商业化新型溶瘤免疫疗法和工程化外泌体疗法。公司设计并打造风险均摊的产品组合，包括用 于治疗实体瘤的具有同类最佳潜质的溶瘤免疫疗法候选药物和具临床应用前景或可直接商业化的创新型工程化外泌 ...

智通财经APP获悉，据港交所6月25日披露，易控智驾科技股份有限公司(下称：易控智驾)向港交所主板 提交上市申请，海通国际为其独家保荐人。 | 編纂]的[編纂]數目 . | 「編纂】股H股(視乎[編纂]行使與否而 | | --- | --- | | | 定) | | [編纂]數目 | [編纂]股H股(可予重新分配) | | [編纂]數目 | 「編纂]股H股(可予重新分配及視乎[編 | | | 纂]行使與否而定) | | 最高[編纂] | 每股H股[編纂]港元,另加1.0%經 | | | 紀佣金、0.0027％證監會交易徵 | | | 費、0.00015% 會財局交易徵費及 | | | 0.00565%聯交所交易費(須於[編纂] | | | 時以港元繳足,多繳股款可予退還) | | 眉目 | 每股股份人民幣1.00元 | | [編纂] | [編纂] | 据招股书，易控智驾是全球领先的L4级无人驾驶解决方案公司，实现了大规模商业应用。在矿区运输 领域拥有显著的先发优势。在最为严苛的环境中，地形复杂、劳动力短缺、风险无处不在，无人驾驶已 不再是远大目标，而是必然选择。该公司正是为这一需求而创立的技术公司，致力于重塑 ...

近日，王思聪的北京寰聚商业管理有限公司（下称寰聚商业）发生股东变更，"澳门赌王"何鸿燊之子何猷君成为公司新任董事长。6月20日，何猷君还以 北京寰聚商管和星竞威武集团董事长的身份，参加了寰聚商管在山东泰安举行的产品发布会，把电竞元素引入寰聚原有的文旅版图。而这个山东泰安的文 旅正是王思聪"穿着休闲鞋"谈来的，那次谈判也上了热搜。 天眼查显示寰聚商业在6月19日发生股权变更，武汉星竞威武文体发展有限公司成为持股40%的大股东，而武汉星竞威武文体发展有限公司的董事长兼 CEO就是澳门赌王之子何猷君。其控股的星竞威武 (香港) 有限公司100%实控武汉星竞威武文体发展有限公司，这意味着何猷君收购了寰聚商业。 此次变动之前，寰聚商业由王思聪通过其控制的杭州艾亢企业管理有限公司、杭州杯盏商业管理有限公司，持有70%股份。完成变更后，王思聪彻底退出 寰聚商业。 | 分时 日K 周K 月K | 拉长 缩短 前复权 | | --- | --- | | 星亮威武 MA5: 1.54 MA10: 1.56 MA20: 1.46 MA60: 1.58 | | "楼二代"王思聪和"赌二代"何猷君突然同时上了热搜。 | 大同良言 | ...

E e 14- THOL / 19 . u 8 n set 8 11 1 on II i C 通 New! er T cel as a a Here Karam Lex Caran Bank Ban Ban Ban Ban Ban Ban Ban Bar Barrer Barrer Barrer Barrer Beath Berger Beath Beath Beath Beach Beath Beach the state the 1821 Tran TT : 35 172 B 器 5 y ine 11 17 t HEL # ti 7 LATT NO Vi 8 E p 3 3 1 伊朗是中国的石油主要供应国，两国签署了长达25年的战略合作协议，其中就包含了石油进口条款。 对于中国而言，石油不仅是能源，更是重要的化工原 料，其庞大的工业体系对石油有着巨量的需求，而中国持续增长的经济规模更进一步推高了对石油的渴求。伊朗石油出口的稳定对中国至关重要，因为它是 支撑伊朗经济的命脉。如果伊以冲突持续，势必严重影响伊朗的石油出口，进而对中国经济造成冲击。因此，在伊以停火后，美国总统的表态被解读为美国 为中国"做了件好事 ...

6月24日至26日，世界经济论坛新领军者年会（夏季达沃斯论坛）在天津举行。作为全球技术与经济发 展的风向标，人工智能成为本届论坛最受关注的话题之一。中外嘉宾聚焦"AI+时代""AI的中国路径"等 重要议题，展开了一场场精彩的头脑风暴。 这些创新应用的背后，是我国持续推进人工智能生态建设、培育全球领先应用市场的生动体现。目前， 中央企业已联合中小企业，在工业制造、能源电力等重点领域落地500余个AI应用场景。 放眼全球，AI对产业的赋能效果同样明显。在"AI+时代"分论坛上，西门子管理委员会委员、首席技术 官兼首席战略官皮特介绍，AI技术已广泛应用于很多工厂，全球联网设备超170亿台。西门子通过生成 式AI处理数据，已在钢铁、制造、建筑、水泥等33个领域落地应用，助力客户提升效率。 "人工智能与实体经济结合，带来的经济效益非常可观。"中国新一代人工智能发展战略研究院首席经济 学家刘刚认为，人工智能正以"技术—经济"范式变革的力量，重塑经济增长的底层逻辑。 发展路径：从技术创新到全球产业引领 世界经济论坛执行董事梁锦慧表示，作为世界上最有活力的地区，亚洲推动了全球60%的经济增长。其 中，中国贡献了一半，并且在众 ...

Core Viewpoint - Micron Technology, the largest memory chip manufacturer in the U.S., has released an optimistic quarterly earnings forecast driven primarily by demand for artificial intelligence (AI) devices [1][3] Group 1: Earnings Forecast - The company expects fourth-quarter revenue to reach approximately $10.7 billion, significantly exceeding analysts' average estimate of $9.89 billion [1] - Adjusted earnings per share for the fourth quarter are projected to be around $2.50, notably higher than the market expectation of $2.03 [3] Group 2: Performance Highlights - For the third fiscal quarter ending May 29, the company reported a year-over-year sales increase of 37% to $9.3 billion, surpassing the analyst estimate of $8.85 billion [3] - Adjusted earnings per share for the third quarter were $1.91, exceeding the market consensus of $1.60 by 19% [3] Group 3: Market Demand and Strategy - The demand for high-performance storage products, particularly high bandwidth memory, is expected to continue growing due to the increasing complexity of AI software [1] - The company is also expanding its storage business into emerging markets such as electric vehicles and gaming chips [3] - CEO Sanjay Mehrotra emphasized the importance of maintaining record revenue growth while making prudent investments to solidify technological leadership [1]

长江商报奔腾新闻记者 杨蝶 今年以来，中国建筑（601668）（601668.SH）继续稳健前行。 6月24日晚间，中国建筑发布公告称，公司近期获得八项重大项目，总金额达215.3亿元，占2024年度经 审计营业收入的1%。 具体来看，上述重大项目涉及房屋建筑和基础设施领域。其中，房屋建筑项目包括福建福州绿色半导体 智能制造产业园工程总承包EPC项目（一期）、福建莆田市木兰溪绶溪片区八二一街以南城中村保障性 安居项目（工程总承包）项目等；基础设施项目包括河北廊坊润泽数字产业园项目总承包、山东日照市 东港区涛雒镇海洋生态保护与渔业融合发展EOD项目等。项目获得单位包括中建四局、中建七局、中 建八局等。 最新公布的经营情况简报显示，2025年1月至5月，中国建筑新签合同总额为1.84万亿元，同比增长 1.7%。其中，建筑业务新签合同额1.71万亿元，同比增长2.2%，占新签合同总额的92.93%；地产业务合 约销售额1304亿元，同比下降4%。 上述数据表明，中国建筑的地产业务在收缩，核心业务建筑业务在增长，公司建筑主业更加突出。 经营情况向好，公司的经营业绩跟着提升。2025年第一季度，中国建筑实现营业收入55 ...

湖南省科技厅6月25日通报前5月全省科技创新情况。1—5月，全省技术合同成交额突破1700亿元，同比 增长超15%，发放知识价值信用贷款超80亿元，增长17%以上。 ...

亚投行第十届理事会年会正在北京召开。在亚投行第十届理事会年会上，来自近100个国家和地区的 3500余名嘉宾深入交流。多位参会嘉宾在接受采访时表示，赞赏亚投行以及中国在推动基础设施互联互 通与可持续发展方面做出的努力，并期待未来与中国开展更为深度的合作。与会嘉宾表示，近年来，中 国在基础设施和清洁能源方面取得众多技术突破，这些领域的先进技术正在惠及更多国家和地区。(央 视新闻) ...