[HK]新兴印刷(01975):截至二零二五年十二月三十一日止六个月未经审核中期业绩
原标题:新兴印刷:截至二零二五年十二月三十一日止六个月未经审核中期业绩 香交易及結算所有限公司及香聯合交易所有限公司對本公佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或 任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。SUN HING PRINTING HOLDINGS LIMITED 新興印刷控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1975） 截至二零二五年十二月三十一日止六個月 未經審核中期業績 新興印刷控股有限公司（「本公司」）董事會（「董事會」）欣然公佈，本公司及其附屬公司（統稱「本集團」）截止二零二五年十二月三十一日止六個月之未經審核中期簡明綜合業績。本公佈列載本公司中期報告2025╱2026全文，並符合香聯合交易所有限公司證券上市規則內有關中期業績初步公告須附載資料的要求。本公司中期報告2025╱2026的印刷版本將於2026年3月中旬寄發予已選擇收取印刷版本的本公司股東，並可於其時在香交易及結算所有限公司的網站(www.hkexnews.hk)及本公司的網站(www.sunhingprinting.com)閱覽。 CORPORATE INFORMATION 公司資料 EXECUTIVE DIRECTORS 執行董事 Mr. CHAN Peter Tit Sang 陳鐵生先生 Mr. CHAN Kenneth Chi Kin 陳志堅先生 Mr. CHAN Chi Ming 陳志明先生 Mr. CHAN Chun Sang Desmond 陳春生先生 NON-EXECUTIVE DIRECTOR 非執行董事 Ms. CHEUNG Mei Yee Lorna 張美意女士 INDEPENDENT NON-EXECUTIVE 獨立非執行董事 DIRECTORS 朱譜權醫生 Dr. CHU Po Kuen Louis 黃錦輝先生 Mr. WONG Kam Fai 鄔晉昇先生 Mr. WU Chun Sing 公司秘書 COMPANY SECRETARY 林耀祖先生 Mr. LAM Yiu Cho 主要辦事處 PRINCIPAL OFFICE 香柴灣 4/F, Sze Hing Industrial Building 利眾街35-37號 35-37 Lee Chung Street 泗興工業大樓4樓 Chai Wan, Hong Kong 主要往來銀行 PRINCIPAL BANKS 中國銀行（香） Bank of China (Hong Kong) 香柴灣 29-31 Lee Chung Street 利眾街29-31號 Chai Wan, Hong Kong 星展銀行 DBS 香中環 16/F, The Center 皇后大道中99號 99 Queen’s Road Central 中環中心16樓 Central, Hong Kong 核數師 AUDITOR 安永會計師事務所 Ernst & Young 執業會計師 Certified Public Accountants 註冊公眾利益實體核數師 Registered Public Interest Entity Auditor 股份過戶登記處 SHARE REGISTRAR 卓佳證券登記有限公司 Tricor Investor Services Limited 香 17/F, Far East Finance Centre 夏愨道16號 16 Harcourt Road 遠東金融中心17樓 Hong Kong 網址 WEBSITE http://www.sunhingprinting.com http://www.sunhingprinting.com MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 REVIEW OF OPERATION 業務回顧 Sun Hing Printing Holdings Limited (the “Company”) and its 新興印刷控股有限公司（「本公司」）及其附屬公司 subsidiaries (collectively referred to as the “Group”) is a one- （統稱「本集團」）為一站式印刷服務供應商。我們 stop printing service provider. Our printing services can be 的印刷服務可大致分為(i)裝印刷服務，涵蓋（其 broadly categorised into (i) packaging printing services which 中括）瓦楞盒、禮品盒、卡盒及產品盒；(ii)紙 cover, among others, corrugated boxes, gift boxes, card 禮品套裝印刷服務，涵蓋（其中括）禮品套裝及 boxes and product boxes; (ii) paper gift set printing services 遊戲套裝容納禮品盒、卡片、小冊子及精裝書； which cover, among others, gift sets and game sets containing (iii)彩咭牌印刷服務，涵蓋（其中括）彩色卡片、 gift boxes, cards, booklets and hardback books; (iii) card 插頁卡片、保修卡及白卡；(iv)智能裝印刷服 printing services which cover, among others, colour cards, 務，涵蓋（其中括）RFID標籤及實物二維碼；及 insert cards, warranty cards and plain cards; (iv) smart package (v)其他印刷服務，涵蓋（其中括）貼紙、彩紙、 printing services which cover, among others, Radio-frequency 合成紙及利是封。 Identification (“RFID”) labels and Real QR Code; and (v) other printing services which cover, among others, stickers, colour papers, yupo papers and red packets. During the first half of the 2025/2026 fiscal year, the Group 在2025/2026財年上半年，本集團在充滿挑戰的 operated in a challenging macroeconomic environment 宏觀經濟環境中運?，香印刷行業需求疲軟、characterised by subdued demand in Hong Kong’s printing 地緣政治緊張局勢持續、通脹壓力不斷。面對此industry, persistent geopolitical tensions, and ongoing 形勢，我們積極推進戰略舉措，括完成對ESG inflationary pressures. In response, we advanced our strategic Print Limited的投資，以捕捉市場對可持續印刷 initiatives, including completion of our investment in ESG 解決方案日益增長的需求；並持續推進印尼生產 Print Limited to capture growing demand for sustainability 基地的規劃，以提升成本競爭力和供應鏈韌性。 aligned print solutions, and continued planning for an 在運?層面，我們堅持嚴格控制成本、優化採購Indonesia manufacturing hub to enhance cost competitiveness 流程、合理安排生產計畫，同時維持服務水準， and supply chain resilience. Operationally, we maintained a 以保障利潤率與客戶忠誠度。上述措施在期內支 disciplined focus on cost control, procurement optimisation, 持了盈利能力和股東價值，並為本集團在市場環 and production scheduling, while upholding service quality 境變化中實現長期增長奠定基礎。 to preserve margins and customer loyalty. These efforts supported profitability and shareholder value during the period and position the Group for long term growth as market conditions evolve. MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 REVIEW OF OPERATION (Continued) 業務回顧（續） The Group’s revenue increased by approximately 22.2% to 截至二零二五年十二月三十一日止六個月，本集approximately HK$132.6 million for the six months ended 團的收益較去年同期增加約22.2%至約132.6百萬31 December 2025, compared to the same period last year. 元。收益增加的原因在於全球客戶啟動了更多The increase in revenue is affected by customers globally 涉及印刷及宣傳產品的新項目。這導致客人對 had launched more new projects involving printing and 裝及紙禮品套裝印刷服務的需求增加，從而推動promotional products. This has led to higher demand 了整體收益的上升。 for packaging and paper gift set printing services by our customers, contributing to a rise in overall revenue. The gross profit boosted by approximately 25.4% from 因收益上升，所以毛利由截至二零二四年十二月approximately HK$32.9 million for the six months ended 31 三十一日止六個月約32.9百萬元增加約25.4%December 2024 to approximately HK$41.3 million for the six 至截至二零二五年十二月三十一日止六個月約months ended 31 December 2025, as a result of growth in 41.3百萬元。 revenue. Our gross profit margin remained relatively stable of 本集團於截至二零二五年及二零二四年十二月approximately 31.1% and approximately 30.3% for the 三十一日止六個月，分別錄得毛利率約31.1%及six months ended 31 December 2025 and 31 December 約30.3%。期內溢利由截至二零二四年十二月2024 respectively. Our net profit for the period rose by 三十一日止六個月約2.8百萬元上升約3.3百萬approximately HK$3.3 million from approximately HK$2.8 元至截至二零二五年十二月三十一日止六個月million for the six months ended 31 December 2024 to 約6.1百萬元，主要由於期內收益增加所致。純approximately HK$6.1 million for the six months ended 31 利率由截至二零二四年十二月三十一日止六個月December 2025, considering an increase in revenue during 約2.6%增加至截至二零二五年十二月三十一日止the current period. The net profit margin increased from 六個月約4.6%。 approximately 2.6% for the six months ended 31 December 2024 to approximately 4.6% for the six months ended 31 December 2025. Basic earnings per share was approximately HK1.27 cents, 每股基本盈利約為1.27仙，而二零二四年同期compared to a basic earnings per share of approximately 每股基本盈利則約為0.58仙。 HK0.58 cents for the corresponding period in 2024. MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 BUSINESS UNIT OVERVIEW 業務單位概覽 The Group comprises five key business units. 本集團由五個主要業務單位組成。 Revenue contribution for the six months ended 31 December 2025截至二零二五年十二月三十一日止六個月的收益貢獻 Other Printing 其他印刷 46.4% Revenue contribution for the six months ended 31 December 2024截至二零二四年十二月三十一日止六個月的收益貢獻 Other Printing 其他印刷 52.8% Packaging printing 裝印刷 Packaging printing services cover, among others, corrugated 裝印刷服務涵蓋（其中括）瓦楞盒、禮品盒、 boxes, gift boxes, card boxes and product boxes. For the six 卡盒及產品盒。截至二零二五年十二月三十一日 months ended 31 December 2025, revenue from packaging 止六個月，來自裝印刷的收益為約58.6百萬 printing increased by approximately 43.4% to approximately 元，較二零二四年同期增長約43.4%。收益增加 HK$58.6 million, compared to the same period in 2024. The 的主要原因是客戶推出了更多新專案，導致裝 increment was mainly due to rolling out of more new project 盒方面的支出相應上升。 by customers, which it led to an increase in the spending on packaging box. MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 BUSINESS UNIT OVERVIEW (Continued) 業務單位概覽（續） Paper gift set printing 紙禮品套裝印刷 Paper gift set printing services cover, among others, gift sets 紙禮品套裝印刷服務涵蓋（其中括）禮品套裝及 and game sets containing gift boxes, cards, booklets and 遊戲套裝容納禮品盒、卡片、小冊子及精裝書。 hardback books. For the six months ended 31 December 2025, 截至二零二五年十二月三十一日止六個月，來自 revenue from paper gift set printing enlarged by approximately 紙禮品套裝印刷的收益為約61.5百萬元，較二 7.4% to approximately HK$61.5 million as compared to the 零二四年同期增加約7.4%。紙禮品套裝印刷的收same period in 2024. Revenue from paper gift set printing 益有所增加，原因是在此六個月內客戶開展了更 increased as customers launched more promotion campaigns 多推廣活動，從而帶動了紙禮品套裝產品的訂單during the six-month period, resulting in higher order volumes 量上升。 for paper gift set products. Card printing 彩咭牌印刷 Card printing services cover, among others, colour cards, insert 彩咭牌印刷服務涵蓋（其中括）彩色卡片、插 cards, warranty cards and plain cards. For the six months ended 頁卡片、保修卡及白卡。截至二零二五年十二 31 December 2025, revenue from card printing increased 月三十一日止六個月，來自彩咭牌印刷的收益approximately 110.6% to approximately HK$6.2 million as 為約6.2百萬元，較二零二四年同期上升約compared to the same period in 2024. The increase in the 110.6%。卡片印刷收益的增加，主要是由於期內revenue from card printing was primarily due to the launch of a 推出了一項新的卡牌遊戲項目。 new card-game project during the period. Smart package printing 智能裝印刷 Smart package printing services cover, among others, RFID 智能裝印刷服務涵蓋（其中括）RFID標籤及實 labels and Real QR code, in order to provide value-added 物二維碼，旨在為我們的現有及潛在客戶提供增services to our existing and potential customers. For the six 值服務。截至二零二五年十二月三十一日止六個 months ended 31 December 2025, revenue from smart package 月，來自智能裝印刷的收益為約4.9百萬元， printing decreased by approximately 5.9% to approximately 較二零二四年同期減少約5.9%。來自智慧裝印 HK$4.9 million as compared to the same period in 2024. 刷的收益下滑，主要因全球增長放緩及通脹高企The revenue from smart packaging printing decreased amid 導致客戶消費趨於保守。期內，香零售商普遍more conservative customer spending in response to slowing 削減市場行銷與推廣預算，致使智慧裝產品訂 global growth and elevated inflation. Reduced marketing 單減少。 and promotional budgets – particularly among Hong Kong retailers – resulted in fewer orders for smart packaging products during the period. MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 FINANCIAL REVIEW (Continued) 財務回顧（續） Selling and distribution expenses 銷售及分銷開支 Selling and distribution expenses were approximately HK$3.4 於截至二零二五年及二零二四年十二月三十一日 million and approximately HK$2.8 million for the six months 止六個月，銷售及分銷開支分別為約3.4百萬元 ended 31 December 2025 and 2024 respectively. It chiefly 及約2.8百萬元，主要括薪資及運輸費用。銷 consisted of salaries of salespeople and freight charges. Selling 售及分銷開支增加，主要是由於本期銷售額增長 and distribution expenses increased was essentially driven by 所致。 increase in sales in the current period. Other operating income/(expenses), net 其他經?收入╱（費用）淨額 The Group recorded other operating expense of approximately 截至二零二五年十二月三十一日止六個月，本集 HK$1.2 million for the six months ended 31 December 2025, 團錄得其他經?開支約1.2百萬元，而截至二while the Group generated other operating income of 零二四年十二月三十一日止六個月則產生其他經approximately HK$1.5 million for the six months ended 31 ?收入約1.5百萬元。本期內由其他經?收入December 2024. The turnaround from other operating income 轉為其他經?開支，主要由於本期內美元兌人民for the six months ended 31 December 2024 to other operating 幣貶值產生匯兌虧損，而截至二零二四年十二月 expenses in the current period was mainly contributed from 三十一日止六個月則因美元兌人民幣升值產生匯 exchange loss arising from the depreciation of United States 兌收益。 Dollar against Renminbi during the current period, while there was an exchange gain arising from the appreciation of United States Dollar against Renminbi in the six months ended 31 December 2024. Other income and government grants 其他收入及政府補助 Other income and government grants were approximately 其他收入及政府補助由截至二零二四年十二月HK$7.8 million for the six months ended 31 December 2024 and 三十一日止六個月約7.8百萬元減少至截至二零 dropped to approximately HK$5.2 million for the six months 二五年十二月三十一日止六個月約5.2百萬元。 ended 31 December 2025. The Group has made less time 本集團因期內做少了定期存款及銀行提供較低的deposits and lower interest rates were offered by the banks 利率所致。 during the current period. Finance cost 融資成本 Finance costs were approximately HK$2.7 million and 本集團於截至二零二五年及二零二四年十二月approximately HK$3.6 million for the six months ended 31 三十一日止六個月為止，分別錄得融資成本約2.7 December 2025 and 2024. The drop in the finance costs was 百萬元及約3.6百萬元。融資成本下降，主要 mainly due to an one-off advanced payment for 14-months 由於二零二五年十一月已經一次性支付14個月租rental payment was made in November 2025, so lower finance 賃付款的預付款項，故本期支付的融資成本有所 costs were paid in the current period. 減少。 Income tax credit/(expense) 所得稅抵免╱（開支） The Group recorded income tax credit of approximately 截至二零二五年十二月三十一日止六個月，本集HK$3,000 for the six months ended 31 December 2025, and 團錄得所得稅抵免約3,000元，而截至二零二四the Group recorded income tax expense of approximately 年十二月三十一日止六個月則錄得所得稅開支約HK$0.5 million for the six months ended 31 December 2024. 0.5百萬元。本期由所得稅開支轉為所得稅抵The turnaround of income tax expense for the period ended 31 免，主要由於香應課稅溢利減少，導致香利 December 2024 to income tax credit in the current period was 得稅支出下降。 mainly due to decrease in Hong Kong profits tax charge as a result of decrease in assessable profits arising in Hong Kong.MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 Liquidity and capital resources 流動資金及資本資源 Our net assets amounted to approximately HK$361.1 million 於二零二五年十二月三十一日及二零二五年六月 and approximately HK$371.4 million as at 31 December 2025 三十日，資產淨值分別為約361.1百萬元及約and 30 June 2025 respectively. The decrease in net assets was 371.4百萬元。資產淨值減少主要源於期內支付 primarily due to final and special dividends for FY2024/2025 年度二零二四╱二零二五年末期及特別股息。 being paid during the current period. The Group derives its working capital mainly from cash and 本集團?運資金主要來自現金及現金等價物。董 cash equivalents. The directors expect that the Group will rely 事預期，在無不可預見之情況下，本集團將倚靠 on the internally generated funds and unutilised net proceeds 內部產生的資金及本公司股份於二零一七年十一 from the listing of the shares of the Company on The Stock 月十六日在香聯合交易所有限公司上市的未動 Exchange of Hong Kong Limited on 16 November 2017, in the 用所得款項淨額。 absence of unforeseen circumstances. As at 31 December 2025, our cash and bank balances 於二零二五年十二月三十一日，現金及銀行結餘amounted to approximately HK$252.2 million (30 June 約為252.2百萬元（二零二五年六月三十日：約2025: approximately HK$276.7 million); and our net current 276.7百萬元），而我們的流動資產淨值則約為 assets were approximately HK$271.5 million (30 June 2025: 271.5百萬元（二零二五年六月三十日：約288.3 approximately HK$288.3 million). The current ratio, being 百萬元）。於二零二五年十二月三十一日及二 current assets over current liabilities, was approximately 5.7 零二五年六月三十日，流動比率（即流動資產除 times and approximately 6.2 times as at 31 December 2025 and 以流動負債）分別約為5.7倍及約為6.2倍。 30 June 2025, respectively. As at 31 December 2025, the Group had approximately HK$252.2 於二零二五年十二月三十一日，本集團手頭現金 million total cash and cash equivalents, of which approximately 及現金等價物總額約為252.2百萬元，其中約 HK$0.1 million was restricted cash and denominated in 0.1百萬元為限制性現金並以人民幣計值。至於 Renminbi. For the remaining balance of approximately HK$252.1 其餘約252.1百萬元中，主要約6.8百萬元乃 million, approximately HK$6.8 million was denominated in Hong 以元計值、約236.8百萬元乃以美元計值、約 Kong Dollars, approximately HK$236.8 million was denominated 5.5百萬元乃以人民幣計值及約3.0百萬元乃 in US Dollars, approximately HK$5.5 million was denominated in 以印尼盾計值。本集團持有以美元、人民幣及印 Renminbi and approximately HK$3.0 million was denominated 尼盾計值現金，目的是支持其核心?運需要及將 in Indonesian Rupiah. The Group’s cash in US Dollars, Renminbi 來興建印尼廠房。此外，本集團於十二個月內到 and Indonesian Rupiah were held to support its core operational 期的定期存款為約222.6百萬元，其中約3.5百 needs and construction of Indonesian factory in the foreseeable 萬元乃以元計值及約219.1百萬元乃以美元 future. In addition, the Group had approximately HK$222.6 計值。 million of fixed time deposits with maturity within 12 months. For the fixed time deposits, approximately HK$3.5 million was denominated in Hong Kong Dollars and approximately HK$219.1 million was denominated in US Dollars. MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 FINANCIAL REVIEW (Continued) 財務回顧（續） Liquidity and capital resources (Continued) 流動資金及資本資源（續） As at 31 December 2025 and 30 June 2025, the Group did 於二零二五年十二月三十一日及二零二五年六月not have any interest-bearing bank borrowings, and thus the 三十日，本集團並無任何計息銀行借款，因此於 computation of the gearing ratios were not applicable as at 31 二零二五年十二月三十一日及二零二五年六月 December 2025 and 30 June 2025. 三十日資產負債比率之計算並不適用。 During the period, the Group recorded over HK$1.6 million 期內，本集團錄得逾1.6百萬元的資本開支，主 in capital expenditure, which was mostly deployed for 要調配作自動化、設備升級及租賃裝修工程。 automation, equipment upgrades and leasehold improvement. CONTINGENT LIABILITIES AND PLEDGE 或然負債及資產抵押 OF ASSETS The Group did not have any material contingent liabilities and 於二零二五年十二月三十一日及二零二五年六月 did not pledge any assets as at 31 December 2025 and 30 June 三十日，本集團並無任何重大或然負債，亦無抵 2025. 押任何資產。 EVENT AFTER THE REPORTING PERIOD 報告期後事項 On 13 February 2026, PT SHP Tech Indonesia, an indirect 於二零二六年二月十三日，PT SHP Tech wholly-owned subsidiary of the Company in Indonesia, entered Indonesia（本公司在印尼間接全資附屬公司）與 into the Construction Agreement with the Contractor, namely 承建商PT Leke Bangun Indonesia訂立有關本集 PT Leke Bangun Indonesia, in relation to the construction of 團以建築價格約71,736,999,600印尼盾（相當於約 the Group’s new printing production facilities in Indonesia at 33,307,023元）於印尼興建本集團之新印刷生產 the Construction Price of approximately Rupiah71,736,999,600 設施的建築協議。詳情請參閱日期為二零二六年 — (equivalent to approximately HK$33,307,023). For details, 二月十三日之公告所披露的須予披露交易 有關please refer to the Disclosable Transaction – Construction 位於印度尼西亞廠房之建築協議。 Agreement for a Factory Building in Indonesia as disclosed in the announcement dated 13 February 2026. OUR EMPLOYEES AND REMUNERATION 僱員及薪酬政策 POLICIES As at 31 December 2025, we had 627 employees in Hong Kong 於二零二五年十二月三十一日，我們於香及and Chinese mainland. During the peak season namely from 中國內地擁有627名僱員。每年旺季（即六月至June to September for each year, in order to maximise our 九月）期間，為盡量擴大產能，我們增加生產僱 production capacity, we expand our employees for production, 員，主要負責若干印後加工工序及裝，該等工 who are principally responsible for certain post-press processes 序須人工進行，不能以自動化機械取替。 and packaging which have to be done manually and cannot otherwise be achieved by automatic machines. Our direct labour cost, including salaries, bonuses and 截至二零二五年及二零二四年十二月三十一日止other employee’s benefits, amounted to approximately 六個月，我們的直接勞工成本（括薪金、花紅HK$17.1 million and approximately HK$12.5 million for the 及其他僱員福利）分別達約17.1百萬元及約12.5 six months ended 31 December 2025 and 2024, respectively. 百萬元。薪酬待遇一般參考市場條款及個人資 Remuneration packages are generally structured by reference 歷而釐定。薪金及工資一般按績效評估及其他相 to market terms and individual qualifications. Salaries and 關因素而每年檢討。 wages are normally reviewed annually based on performance appraisals and other relevant factors. MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 DIVIDEND 股息 The Directors recommend an interim dividend of HK1.28 cents 董事建議以現金派付中期股息每股1.28仙（二 per share (2024: HK1 cent) in cash. The proposed dividend 零二四年：1仙）。建議股息預期將於二零二六 is expected to be distributed on Friday, 27 March 2026 to 年三月二十七日（星期五）分派予二零二六年三月 shareholders whose names appear on the Register of Members 十三日（星期五）名列在本公司的股東名冊上之股 of the Company on Friday, 13 March 2026. 東。 CLOSURE OF REGISTER OF MEMBERS 暫停辦理股份過戶登記 The Register of Members of the Company will be closed 本公司將於二零二六年三月十二日（星期四）至二from Thursday, 12 March 2026 to Friday, 13 March 2026, both 零二六年三月十三日（星期五）（括首尾兩日）， days inclusive, during which period no transfer of shares will 暫停辦理股份過戶登記手續，期間將不會辦理任 be registered. In order to qualify for the proposed interim 何股份過戶登記手續。為符合獲取建議中期股息 dividend, all transfers of shares accompanied by the relevant 的資格，所有過戶文件連同有關股票，必須於二 share certificates must be lodged with the Company’s Share 零二六年三月十一日（星期三）下午四時三十分 Registrar, Tricor Investor Services Limited, at 17/F, Far East 前，送交本公司之股份過戶登記處卓佳證券登記 Finance Centre, 16 Harcourt Road, Hong Kong, not later than 有限公司，地址為香夏道16號遠東金融中心 4:30 p.m., on Wednesday, 11 March 2026. 17樓。 USE OF PROCEEDS 所得款項用途 Net proceeds from the initial public offering were HK$124.0 扣除與上市有關的所有直接成本後，首次公開發 million after deducting all the direct costs associated with the 售所得款項淨額為124.0百萬元。 listing. Up to the date of this announcement, the Group had used 於本公告日期，本集團已使用約80.6百萬元、approximately HK$80.6 million for equipment upgrades on 約31.0百萬元、約8.3百萬元及約2.1百萬the improvement of the production process, approximately 元分別用於改善生產工序之設備升級、搬遷HK$31.0 million for relocation of Shenzhen factory, 深圳廠房、一般?運資金及升級企業資源規劃approximately HK$8.3 million for general working capital and （「ERP」）系統。期內，所得款項淨額已按與本公 approximately HK$2.1 million for the upgrade of enterprise 司日期為二零一七年十一月二日的招股章程（「招 resources planning (“ERP”) system. During the period, the net 股章程」）所載「未來計劃及所得款項用途」一節相 proceeds, have been used for the purpose consistent with the 符的用途動用。 section headed “Future Plan and Use of Proceeds” as set out in the prospectus of the Company dated 2 November 2017 (the “Prospectus”). MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 USE OF PROCEEDS (Continued) 所得款項用途（續） Details of the allocation of the net proceeds, and the utilisation 於本公告日期，所得款項淨額的分配詳情以及所 of the net proceeds up to the date of this announcement are 得款項淨額的動用情況載列如下：set out below: Amount Actual utilised Unutilised usage up Amount during net proceeds to the unutilised the period up to Percentage date of as of ended the date of of total Planned this 30 June 31 December this Intended application of the net proceeds proceeds applications announcement 2025 2025 announcement 截至二零二五年 佔所得款項 截至本公告 截至二零二五年 十二月三十一日 截至本公告總額的 日期的 六月三十日 止期內 日期的未動用 所得款項淨額的擬定用途 百分比 計劃用途情況 實際使用情況 未動用金額 已動用金額 所得款項淨額(%) HK$ in million HK$ in million HK$ in million HK$ in million HK$ in million百萬元 百萬元 百萬元 百萬元 百萬元 Purchase four presses by stages 65.0 80.6 80.6 – – – 分階段購置四台印刷機 Relocation of Shenzhen factory 25.0 31.0 31.0 – – – 搬遷深圳廠房 Upgrade ERP system (Note 1) 3.3 4.1 2.1 2.0 – 2.0 升級ERP系統（附註1） General working capital 6.7 8.3 8.3 – – – 一般?運資金 Total 100.0 124.0 122.0 2.0 – 2.0 總計 Note 1: We expect to fully utilise the relevant proceeds on or before 30 附註1： 我們預期將於二零二六年六月三十日之前悉數 June 2026. 動用相關所得款項。 The Board of the Company is pleased to announce the 本公司董事會欣然公佈本集團截止二零二五年 unaudited interim condensed consolidated results of the 十二月三十一日止六個月之未經審核中期簡明綜 Group for the six months ended 31 December 2025 as follows: 合業績如下： CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS 簡明綜合損益表 For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） Notes HK$’000 HK$’000 附註 千元 千元 REVENUE 3&4 132,550 108,510 收益 Cost of sales (91,286) (75,596) 銷售成本 Gross profit 毛利 41,264 32,914 Other income 其他收入 4 5,139 7,761 Government grants 政府補助 4 38 26 Selling and distribution expenses 銷售及分銷開支 (3,386) (2,758)Administrative expenses 行政開支 (33,050) (32,453) Other operating income/(expenses), 其他經?收入╱（費用）淨額net (1,184) 1,472 Finance cost 融資成本 5 (2,734) (3,627) PROFIT BEFORE TAX 除稅前溢利 6 6,087 3,335 Income tax credit/(expense) 所得稅抵免╱（開支） 7 3 (549) PROFIT FOR THE PERIOD 期內溢利 6,090 2,786 EARNINGS PER SHARE 本公司股權持有人 ATTRIBUTABLE TO EQUITY 應佔每股盈利 HK cents HK cents HOLDERS OF THE COMPANY 8 仙 仙 Basic and diluted 基本及攤薄 1.27 0.58 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 簡明綜合全面收益表 For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） HK$’000 HK$’000 千元 千元 PROFIT FOR THE PERIOD 期內溢利 6,090 2,786 OTHER COMPREHENSIVE INCOME/ 其他全面收益╱（虧損） (LOSS) Other comprehensive income/(loss) that 於往後期間可能重新分類至 may be reclassified to profit or loss in 損益的其他全面收益╱（虧損）： subsequent periods: Exchange differences on translation of 換算海外業務的匯兌差額 foreign operations 340 (3,913) OTHER COMPREHENSIVE INCOME/ 期內其他全面收益╱（虧損）， (LOSS) FOR THE PERIOD, NET OF TAX 340 (3,913) 扣除稅項 TOTAL COMPREHENSIVE INCOME/ 本公司擁有人應佔期內 (LOSS) FOR THE PERIOD 全面收益╱（虧損）總額 ATTRIBUTABLE TO OWNERS OF THE COMPANY 6,430 (1,127) CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 簡明綜合財務狀況表 31 December 30 June 2025 2025 二零二五年 二零二五年 十二月三十一日 六月三十日 (Unaudited) (Audited) （未經審核） （經審核） Notes HK$’000 HK$’000 附註 千元 千元 NON-CURRENT ASSETS 非流動資產 Property, plant and equipment 物業、廠房及設備 85,836 89,585Right-of-use assets 使用權資產 74,090 71,453 Intangible asset 無形資產 1,137 1,137 Prepayments and deposits 預付款項及按金 15,797 8,999 非流動資產總值 Total non-current assets 176,860 171,174 CURRENT ASSETS 流動資產 Inventories 存貨 28,974 17,930 Trade receivables 貿易應收款項 11 40,656 40,824 Prepayments, deposits and 預付款項、按金及 其他應收款項 other receivables 7,176 8,535 Tax recoverable 可收回稅項 113 151 Restricted cash 受限制現金 12 75 75 Cash and cash equivalents 現金及現金等價物 12 252,090 276,650 Total current assets 流動資產總值 329,084 344,165 CURRENT LIABILITIES 流動負債 貿易應付款項 Trade payables 13 21,618 12,807 Other payables and accruals 其他應付款項及應計費用 25,038 23,799租賃負債 Lease liabilities 206 8,452 Tax payable 應付稅項 10,734 10,829 Total current liabilities 流動負債總額 57,596 55,887 NET CURRENT ASSETS 流動資產淨值 271,488 288,278 TOTAL ASSETS LESS CURRENT 總資產減流動負債 LIABILITIES 448,348 459,452 NON-CURRENT LIABILITIES 非流動負債 其他應付款項 Other payables 1,930 1,625 Lease liabilities 租賃負債 85,200 86,239 遞延稅項負債 Deferred tax liability 162 162 Total non-current liabilities 非流動負債總額 87,292 88,026 Net assets 資產淨值 361,056 371,426 權益 EQUITY Equity attributable to owners 本公司擁有人應佔權益 of the Company Share capital 股本 4,800 4,800 儲備 Reserves 356,256 366,626 Total equity 權益總額 361,056 371,426 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 簡明綜合權益變動表 For the six months ended 31 December 2025 (Unaudited) 截至二零二五年十二月三十一日止六個月（未經審核） Exchange Share Share Other Retained fluctuation Total capital premium reserve profits reserve equity 股本 股份溢價 其他儲備 保留溢利 匯兌波動儲備 權益總額 Notes HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 附註 千元 千元 千元 千元 千元 千元 At 1 July 2025 於二零二五年七月一日 * * * * (audited) 4,800 470,112 (328,049) 238,727 (14,164) 371,426 （經審核） Profit for the period 期內溢利 – – – 6,090 – 6,090 Other comprehensive income 期內其他全面收益： for the period: Exchange differences on 換算海外業務的匯兌差額 translation of foreign operations – – – – 340 340 Total comprehensive income 期內全面溢利總額 for the period – – – 6,090 340 6,430 Final and special dividends for 二零二五年末期及 2025 declared 特別股息宣派 9 – – – (16,800) – (16,800) At 31 December 2025 於二零二五年 (unaudited) 十二月三十一日 * * * * （未經審核） 4,800 470,112 (328,049) 228,017 (13,824) 361,056 At 1 July 2024 於二零二四年七月一日 (audited) （經審核） 4,800 474,912 (328,049) 339,375 (11,295) 479,743 Profit for the period – – – 2,786 – 2,786 期內溢利 Other comprehensive loss 期內其他全面虧損： for the period: Exchange differences on 換算海外業務的匯兌差額 translation of foreign operations – – – – (3,913) (3,913) Total comprehensive income/(loss) 期內全面溢利╱（虧損） for the period – – – 2,786 (3,913) (1,127) 總額 Final dividend for 2024 declared 9 – – – (12,000) – (12,000)二零二四年末期股息宣派 At 31 December 2024 於二零二四年 (unaudited) 十二月三十一日 4,800 474,912 (328,049) 330,161 (15,208) 466,616 （未經審核） * These reserve accounts comprise of the consolidated reserves * 該等儲備賬括於二零二五年十二月三十一日 of HK$356,256,000 and HK$366,626,000 in the condensed 及二零二五年六月三十日的簡明綜合財務狀 consolidated statement of financial position as at 31 December 況表內的綜合儲備分別為 356,256,000元及 2025 and 30 June 2025, respectively. 366,626,000元。 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 簡明綜合現金流量表 For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） Notes HK$’000 HK$’000 附註 千元 千元 CASH FLOWS FROM OPERATION 經?活動所得現金流 ACTIVITIES Profit before tax 除稅前溢利 6,087 3,335 Adjustments for: 就以下各項所作調整： Interest income 利息收入 4 (5,106) (7,686) Finance cost 融資成本 5 2,734 3,627 Loss/(gain) on disposal of items of 出售物業、廠房及設備項目property, plant and equipment 的虧損╱（收益） 6 (14) 42 Depreciation of property, 物業、廠房及設備之 plant and equipment 折舊 6 5,846 9,880 Depreciation of right-of-use assets 使用權資產之折舊 6 4,626 6,994 14,173 16,192 Increase in inventories (12,618) (6,745) 存貨增加 Decrease/(increase) in trade 貿易應收款項減少╱（增加） receivables 394 (12,824) Increase in prepayments, deposits 預付款項、按金及 and other receivables (6,235) (6,576) 其他應收款項增加 Increase in trade payables 貿易應付款項增加 10,104 247 Increase in other payables and 其他應付款項及應計費用 accruals 增加 1,877 2,744 Cash generated from/(used in) 經?所得╱（所用）現金 operations 7,695 (6,962) Interest paid 已付利息 (2,734) (3,627) Hong Kong profits tax paid (171) (768) 已付香利得稅 Net cash flows from/(used in) 經?活動所得╱（所用）現金流 operating activities 淨額 4,790 (11,357) CASH FLOWS FROM INVESTING 投資活動所得現金流 ACTIVITIES Interest received 5,392 6,131 已收利息 Purchases of items of property, 購置物業、廠房及設備項目 plant and equipment (1,554) (2,776) Proceeds from disposal of items of 出售物業、廠房及設備項目的property, plant and equipment 508 32 所得款項 Decrease in restricted cash 受限制現金減少 – 2 Net cash flows from investing 投資活動所得現金流淨額 activities 4,346 3,389 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 簡明綜合現金流量表 For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） Notes HK$’000 HK$’000 附註 千元 千元 CASH FLOWS FROM FINANCING 融資活動所得現金流 ACTIVITIES Principal portion of lease payments 租賃費用之本金部份 (16,955) (5,563)Dividends paid 已付股息 9 (16,800) (12,000) Net cash flows used in 融資活動所用現金流淨額 financing activities (33,755) (17,563) NET DECREASE IN CASH AND 現金及現金等價物減少淨額 CASH EQUIVALENTS (24,619) (25,531) Cash and cash equivalents at 期初的現金及現金等價物 beginning of period 276,650 316,885 Effect of foreign exchange rate 外匯匯率變動影淨額 changes, net 59 (25) CASH AND CASH EQUIVALENTS 期末的現金及現金等價物 AT THE END OF PERIOD 12 252,090 291,329 ANALYSIS OF BALANCES OF 現金及現金等價物結餘分析 CASH AND CASH EQUIVALENTS Cash and bank balances 29,488 5,381 現金及銀行結餘 Non-pledged time deposits with 於購買時原有到期日少於 original maturity of less than 三個月的無抵押定期存款 three months when acquired 222,602 285,948 Cash and cash equivalents as stated 於簡明綜合現金流量表及 in the condensed consolidated 簡明綜合財務狀況表所示的 statement of cash flows and 現金及現金等價物 condensed consolidated statement of financial position 252,090 291,329 Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 1. CORPORATION AND GROUP 1. 公司及集團資料 INFORMATION The Company is a limited liability company incorporated 本公司為一間在開曼群島註冊成立的有in the Cayman Islands. The registered address of the 限公司。本公司的註冊地址為Windward Company is Windward 3, Regatta Office Park, P.O. Box 3, Regatta Office Park, P.O. Box 1350, 1350, Grand Cayman KY1-1108, Cayman Islands. The Grand Cayman KY1-1108, Cayman principal place of business of the Company is located Islands。本公司的主要?業地點位於香at 4/F., Sze Hing Industrial Building, 35-37 Lee Chung 柴灣利眾街35–37號泗興工業大樓4樓。 Street, Chai Wan, Hong Kong. The Company is listed on the Main Board of The Stock 本公司於香聯合交易所有限公司（「聯交Exchange of Hong Kong Limited (the “Stock Exchange”). 所」）主板上市。 The Company is an investment holding company. The 本公司為一間投資控股公司。本集團從事Group was engaged in the manufacturing and sale of 製造及銷售印刷品。 printing products. These condensed consolidated interim financial 除另有說明外，此等簡明綜合中期財務報statements (the “interim financial statements”) are 表（「中期財務報表」）以千元（千元）呈presented in thousands of Hong Kong dollars (HK$’000), 列。此等中期財務報表已於二零二六年二unless otherwise stated. These interim financial 月二十六日經董事會批准刊發。 statements were approved for issue by the Board on 26 February 2026. Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 2. BASIS OF PREPARATION AND 2. 編製基準及會計政策 ACCOUNTING POLICIES The interim financial statements for the six months ended 截至二零二五年十二月三十一日止六個月31 December 2025 are prepared in accordance with the 之中期財務報表乃根據聯交所證券上市規applicable disclosure requirements of Appendix D2 to 則（「上市規則」）附錄D2的適用披露規定及the Rules Governing the Listing of Securities (“Listing 香會計師公會頒佈的香會計準則（「香Rules”) on the Stock Exchange and with Hong Kong 會計準則」）第34號「中期財務報告」編Accounting Standard (“HKAS”) 34 “Interim Financial 製。此等中期財務報表乃未經審核，惟已Reporting” as issued by the Hong Kong Institute of 由本公司審核委員會審閱。 Certified Public Accountants. The interim financial statements are unaudited, but have been reviewed by the Audit Committee of the Company. The accounting policies adopted in the preparation of the 編製中期財務報表所採納的會計政策與編interim condensed consolidated financial information are 製截至二零二五年六月三十日止年度的年consistent with those applied in the preparation of the 度財務報表所應用一致，惟本集團於本Group’s annual consolidated financial statements for the 期間之中期財務報表首次採納的下列經修year ended 30 June 2025, except for the adoption of the 訂香財務報告準則會計準則除外：following amended HKFRS Accounting Standard for the first time for the current period’s financial information. Amendments to HKAS 21 Lack of Exchangeability 香會計準則第21號 缺乏可兌換性（修訂本） The adoption of the above amended HKFRS Accounting 採納上述經修訂之香財務報告準則會計Standard has had no significant financial effect on these 準則對本簡明綜合中期財務報表並無重大condensed consolidated interim financial statements. 財務影。 Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 3. OPERATING SEGMENT 3. 經?分部資料 INFORMATION For management purposes, the Group has only one 就管理而言，本集團只有一個可呈報經? reportable operating segment which is the manufacture 分部，即製造及銷售印刷品。 and sales of printing products. Geographical information 地區資料 (a) Revenue from external customers (a) 來自外部客戶的收益 For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） HK$’000 HK$’000 千元 千元 香 Hong Kong 35,472 38,126 Chinese mainland 中國內地 34,335 14,455 歐洲 Europe 23,899 36,878 日本 Japan 12,264 – 美利堅合眾國（「美國」） United States of America (the “USA”) 10,440 7,643 亞洲 Asia （除中國內地及香） (except Chinese mainland and Hong Kong) 6,275 3,884 大洋洲 Oceania 4,564 1,978 其他 Others 5,301 5,546 總收入 Total revenue 132,550 108,510 The revenue information above is based on the 上述的收益資料乃根據送貨所在地呈locations to which the products are shipped. 列。 (b) Non-current assets (b) 非流動資產 31 December 30 June 2025 2025 二零二五年 二零二五年 十二月三十一日 六月三十日 (Unaudited) (Audited) （未經審核） （經審核） HK$’000 HK$’000 千元 千元 Chinese mainland 中國內地 133,703 132,921 印度尼西亞（「印尼」） Republic of Indonesia (“Indonesia”) 24,342 24,949 Hong Kong 香 10,026 8,985 Total non-current assets 非流動資產總值 168,071 166,855 The non-current asset information above is based 上述非流動資產資料乃按資產之所在Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 4. REVENUE, OTHER INCOME AND 4. 收益、其他收入及政府補助 GOVERNMENT GRANTS Revenue represents the sale of products transferred at a 收益指向客戶銷售於特定時間點轉讓的貨point in time to customers. 品。 An analysis of the Group’s other income and government 本集團的其他收入及政府補助分析如下：grants is as follows: For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） HK$’000 HK$’000 千元 千元 Other income and government grants 其他收入及政府補助 Interest income 利息收入 5,106 7,686 Others 其他 33 75 Total other income 5,139 7,761 其他收入總額 Government grants 38 26 政府補助 Total other income and government 其他收入及政府補助 grants 5,177 7,787 總額 5. 融資成本 5. FINANCE COST For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） HK$’000 HK$’000 千元 千元 Interest on lease liabilities 租賃負債之利息 2,734 3,627 Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 6. PROFIT BEFORE TAX 6. 除稅前溢利 The Group’s profit before tax is arrived at after charging/ 本集團的除稅前溢利已扣除╱（計入）：(crediting): For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） HK$’000 HK$’000 千元 千元 # # Cost of inventories sold 已售存貨成本 91,286 75,596 Depreciation of property, plant and 物業、廠房及設備之折舊 equipment 5,846 9,880 Depreciation of right-of-use assets 使用權資產之折舊 4,626 6,994Lease payments not included in the 於計算租賃負債時並無 measurement of lease liabilities 計入租賃付款 1,682 1,663 Auditor’s remuneration 核數師薪酬 732 767 Employee benefit expenses 僱員福利開支 (excluding directors’ and chief （不括董事及 executive’s remuneration) 行政總裁的薪酬） 36,692 31,918 Foreign exchange differences, net* 匯兌差異淨額* 1,198 (1,514)Loss/(gain) on disposal of items of 出售物業、廠房及設備項目 property, plant and equipment* 的虧損╱（收益）* (14) 42 # # Cost of inventories sold includes approximately 截至二零二五年及二零二四年十二月HK$32,085,000 and approximately HK$32,483,000 of 三十一日止六個月，已售存貨成本括分employee benefit expenses and depreciation, the 別約為32,085,000元及約為32,483,000respective amounts of which are also included in the 元的僱員福利開支及折舊（相關金額已respective total amounts disclosed above for each of these 計入上文就該等各類開支披露的相關總types of expenses for the six months ended 31 December 額）。 2025 and 2024 respectively. * These items are included in “Other operating income/ * 該等項目計入簡明綜合損益表的「其他經(expenses), net” on the face of the condensed ?收入╱（費用）淨額」。 consolidated statement of profit or loss. Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 7. INCOME TAX 7. 所得稅 Hong Kong profits tax has been provided at the rate 截至二零二五年及二零二四年十二月of 16.5% (2024: 16.5%) on the estimated assessable 三十一日止六個月，香利得稅已就於香profits arising in Hong Kong for the six months ended 產生的估計應課稅溢利按16.5%（二零31 December 2025 and 2024. No provision for Chinese 二四年：16.5%）之稅率計提撥備。由於本mainland corporate income tax has been provided as the 集團於期內並無在中國內地產生任何應課Group did not generate any estimated assessable profit 稅溢利，故並無計提中國內地的企業所得arising in Chinese mainland (2024: Nil). 稅（二零二四年：無）。 For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） HK$’000 HK$’000 千元 千元 Current – Hong Kong 本期－香 Charge for the period 期內開支 – 549 Overprovision in prior years 過住年度超額撥備 (3) – Total tax charge/(credit) for the period (3) 549 期內稅項開支╱（抵免）總額 Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 8. EARNINGS PER SHARE 8. 本公司股權持有人應佔每股盈利 ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY The calculation of basic earnings per share amount 每股基本盈利金額乃根據本公司股權持有is based on the profit for the six months ended 31 人應佔截至二零二五年十二月三十一日December 2025 attributable to the equity holders of the 止六個月的溢利約6,090,000元（截至二Company of approximately HK$6,090,000 (six months 零二四年十二月三十一日止六個月：約ended 31 December 2024: approximately HK$2,786,000), 2,786,000元）及期內已發行普通股加權平and the weighted average number of ordinary shares 均數480,000,000股（截至二零二四年十二月of 480,000,000 (six months ended 31 December 2024: 三十一日止六個月：480,000,000股）計算。 480,000,000) in issue during the period. No adjustment has been made to the basic earnings per 因為本集團於截至二零二五年及二零二四share amounts presented for the six months ended 31 年十二月三十一日止六個月均無已發行潛December 2025 and 2024 in respect of a dilution as the 在攤薄普通股，因此並無就攤薄事項對該Group had no potentially dilutive ordinary shares in issue 等期間呈列的每股基本盈利作出調整。 during these periods. The calculations of basic and diluted earnings per share 每股基本及攤薄盈利乃根據下列各項計算：are based on: For the six months ended 31 December 截至十二月三十一日止六個月 2025 2024 二零二五年 二零二四年 (Unaudited) (Unaudited) （未經審核） （未經審核） HK$’000 HK$’000 千元 千元 Profit attributable to equity holders 本公司股權持有人 of the Company 應佔溢利 6,090 2,786 Number of shares 股份數目 2025 2024 二零二五年 二零二四年 Weighted average number of ordinary 用以計算每股基本及 shares in issue during the periods 攤薄盈利之期內 for calculation of basic and diluted 已發行普通股加權 earnings per share (’000) 480,000 480,000 平均數（千股） HK cents HK cents 仙 仙 Basic and diluted earnings per share 每股基本及攤薄盈利 1.27 0.58 Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 9. DIVIDENDS 9. 股息 A final dividend and special dividend in respect of the 根據董事會於二零二五年九月二十六日通year ended 30 June 2025 totalling of HK3.5 cents per 過並由本公司股東於二零二五年十一月ordinary share (2024: HK2.5 cents) was proposed pursuant 二十七日舉行之本公司股東週年大會上批to a resolution passed by the Board on 26 September 准的決議案，建議就截至二零二五年六月2025 and approved by the shareholders of the Company 三十日止年度派發末期及特別股息每股普at the annual general meeting of the Company held 通股總計3.5仙（二零二四年：2.5仙）。 on 27 November 2025. Such dividends amounting to 有關股息16,800,000元（二零二四年：HK$16,800,000 (2024: HK$12,000,000) was paid before 31 12,000,000元）已於二零二五年十二月December 2025. 三十一日前派付。 The Board declares an interim dividend amounting to 董事會就截至二零二五年十二月三十一日HK1.28 cents for the six months ended 31 December 2025 止六個月宣派中期股息1.28仙（截至二零(six months ended 31 December 2024: HK1 cent). 二四年十二月三十一日止六個月：1仙）。 10. PROPERTY, PLANT AND EQUIPMENT 10. 物業、廠房及設備 Acquisition and disposal 收購及出售 During the six months ended 31 December 2025, the 截至二零二五年十二月三十一日止六個Group acquired items of property, plant and equipment 月，本集團收購物業、廠房及設備項目之at a cost of approximately HK$1,554,000 (six months 成本約為1,554,000元（截至二零二四年ended 31 December 2024: approximately HK$2,776,000). 十二月三十一日止六個月：約2,776,000Items of property, plant and equipment with net book 元）。本集團於截至二零二五年十二月values of approximately HK$494,000 (six months ended 三十一日止六個月出售之物業、廠房及31 December 2024: approximately HK$74,000) were 設備項目賬面淨值約為494,000元（截至disposed of by the Group during the six months ended 二零二四年十二月三十一日止六個月：31 December 2025, resulting in a net gain of disposal 約74,000元），導致出售收益淨額約為of approximately HK$14,000 (six months ended 31 14,000元（截至二零二四年十二月三十一December 2024: net loss on disposal of approximately 日止六個月：出售虧損淨額約為42,000HK$42,000). 元）。 Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 11. TRADE RECEIVABLES 11. 貿易應收款項 31 December 30 June 2025 2025 二零二五年 二零二五年 十二月三十一日 六月三十日 (Unaudited) (Audited) （未經審核） （經審核） HK$’000 HK$’000 千元 千元 Trade receivables 貿易應收款項 42,827 42,995 Less: Impairment 減：減值虧損 (2,171) (2,171) Net carrying amount 賬面淨值 40,656 40,824 本集團與其客戶的貿易條款主要關於信貸 The Group’s trading terms with its customers are mainly 期。信貸期通常為一個月，最多延長至三 on credit. The credit period is generally one month, 個月（就主要客戶而言）。每名客戶有最高 extending up to three months for major customers. 信貸限額。本集團致力於就其尚未償還應 Each customer has a maximum credit limit. The Group 收款項維持嚴格的監控，並設有政策以管 seeks to maintain strict control over its outstanding 理其風險。逾期結餘由高級管理層定期審 receivables and has a policy to manage its risk. Overdue 閱。本集團並未就其貿易應收款項結餘持 balances are reviewed regularly by senior management. 有任何抵押品或其他提高信貸工具。貿易 The Group does not hold any collateral or other credit 應收款項不計息。 enhancements over its trade receivable balances. Trade receivables are non-interest-bearing. 於二零二五年十二月三十一日及二零二五 An ageing analysis of the trade receivables as at 31 年六月三十日，根據發票日期並扣除減值 December 2025 and 30 June 2025, based on the invoice 撥備呈列的貿易應收款項的賬齡分析如下： date and net of loss allowance, is as follows: 31 December 30 June 2025 2025 二零二五年 二零二五年 十二月三十一日 六月三十日 (Unaudited) (Audited) （未經審核） （經審核） HK$’000 HK$’000 千元 千元 Within 1 month 28,374 23,944 一個月內 1 to 2 months 11,039 10,614 一至兩個月 2 to 3 months 1,243 2,706 兩至三個月 over 3 months – 3,560 超過三個月 Total 40,656 40,824 總計 Notes to CoNdeNsed CoNsolidated iNterim FiNaNCial statemeNts 簡明綜合中期財務報表附註 12. CASH AND CASH EQUIVALENTS 12. 現金及現金等價物及受限制現 AND RESTRICTED CASH 金 31 December 30 June 2025 2025 二零二五年 二零二五年 十二月三十一日 六月三十日 (Unaudited) (Audited) （未經審核） （經審核） HK$’000 HK$’000 千元 千元 Cash and bank balances 現金及銀行結餘 29,563 13,555 Time deposits with original maturity 於購買時原有到期日少於 less than three months when acquired 三個月的定期存款 222,602 263,170 252,165 276,725 Less: Restricted cash for banking facilities 減：銀行融資的受限制現金 (75) (75) Cash and cash equivalents 252,090 276,650 現金及現金等價物 The cash and cash equivalents of the Group denominated 於二零二五年十二月三十一日及二零二五 in Renminbi (“RMB”) as at 31 December 2025 and 30 年六月三十日，本集團以人民幣（「人民（未完）  |