> **来源：[研报客](https://pc.yanbaoke.cn)** # AUX INTERNATIONAL HOLDINGS LIMITED # 奥克斯國際控股有限公司 (Incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立的有限公司 STOCKCODE股份代號：2080 Corporate Information 公司資料 2 Management Discussion and Analysis 管理層討論與分析 6 Other Information 其他資料 16 Independent Review Report 獨立審閱報告 29 Consolidated Statement of Profit or 综合損益表 31 Loss Consolidated Statement of Profit or 综合損益及其他全面 33 Loss and Other Comprehensive Income Consolidated Statement of 综合財務狀況表 34 Financial Position Consolidated Statement of 综合權益變動表 37 Changes in Equity Condensed Consolidated Cash Flow 簡明綜合現金流量表 39 Statement Notes to the Unaudited Interim 未經審核中期財務 41 Financial Report # BOARD OF DIRECTORS # Executive directors Mr. Zheng Jiang (Chairman) Mr. Chan Hon Ki Ms. Shen Guoying Ms. Chen Lingxiao # Non-executive directors Mr. Zheng Jian Jiang # Independent non-executive directors Mr. Poon Chiu Kwok Mr. Bau Siu Fung Mr. Chau Siu Lun # AUDIT COMMITTEE Mr. Bau Siu Fung (Chairman) Mr. Poon Chiu Kwok Mr, Chau Siu Lun # REMUNERATION COMMITTEE Mr. Chau Siu Lun (Chairman) Mr. Zheng Jiang Mr. Chan Hon Ki Mr. Poon Chiu Kwok Mr. Bau Siu Fung # 董事會 # 执行董事 鄭江先生（主席） 陳漢淇先生 沈國英女士 陳凌曉女士 # 非執行董事 鄭堅江先生 # 独立非執行董事 潘昭國先生 鮑小豐先生 鄢兆麟先生 # 審核委員會 鲍小豐先生(主席) 潘昭國先生 鄢兆麟先生 # 薪酬委員會 鄢兆麟先生（主席） 鄭江先生 陳漢淇先生 潘昭國先生 鮑小豐先生 # NOMINATION COMMITTEE Mr. Zheng Jiang (Chairman) Ms. Shen Guoying Mr. Poon Chiu Kwok Mr. Bau Siu Fung Mr. Chau Siu Lun # AUTHORIZED REPRESENTATIVES Mr. Chan Hon Ki CPA, FCCA Ms. Tsang Kwok Shan, Sandy FCCA # JOINT COMPANY SECRETARY Mr. Chan Hon Ki CPA, FCCA Ms. Tsang Kwok Shan, Sandy FCCA # AUDITOR KPMG Public Interest Entity Auditor registered in accordance with the Financial Accounting and Financial Reporting Council Ordinance 8th Floor, Prince's Building, 10 Chater Road, Central, Hong Kong # REGISTERED OFFICE Clifton House, 75 Fort Street, P.O.Box 1350 Grand Cayman, KY1-1108, Cayman Islands # 提名委員會 鄭江先生(主席) 沈國英女士 潘昭國先生 鮑小豐先生 鄢兆麟先生 # 授权代表 陳漢淇先生CPA，FCCA 曾國珊女士FCCA # 聯席公司秘書 陳漢淇先生CPA，FCCA 曾國珊女士FCCA # 核數師 畢馬威會計師事務所 於《會計及財務匯報局條例》下的 註冊公眾利益實體 核數師 香港 中環遮打道10號 太子大厦 8樓 # 註冊辦事處 Clifton House, 75 Fort Street, P.O.Box 1350 Grand Cayman, KY1-1108, Cayman Islands # HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG Unit 5, 16/F, Emperor Group Centre, 288 Hennessy Road, Wan Chai, Hong Kong # HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE Tricor Investor Services Limited 17/F Far East Finance Centre, 16 Harcourt Road, Hong Kong # LEGAL ADVISER TO THE COMPANY Chiu & Partners 40th Floor, Jardine House, 1 Connaught Place, Central, Hong Kong # CAYMAN ISLANDS SHARE REGISTRAR AND TRANSFER OFFICE Ocorian Trust (Cayman) Limited Windward 3, Regatta Office Park, P.O.Box 1350, Grand Cayman, KY1-1108, Cayman Islands # 總部及香港主要營業地點 香港 灣仔 軒尼詩道288號 英皇集團中心 16樓5室 # 香港股份過戶登記分處 卓佳證券登記有限公司 香港夏煞道16號 遠東金融中心17樓 # 本公司的法律顧問 趙不渝馬國強律師事務所 香港 中環康樂廣場1號 怡和大厦40樓 # 開曼群島股份過戶登記處 Ocorian Trust (Cayman) Limited Windward 3, Regatta Office Park, P.O.Box 1350, Grand Cayman, KY1-1108, Cayman Islands # PRINCIPAL BANKERS OCBC Bank (Hong Kong) Limited Bank of Communications Co., Ltd., Hong Kong Branch Yinzhou Bank Bank of China (Hong Kong) Limited Bank of Beijing # COMPANY WEBSITE www.auxint.com # STOCK CODE 2080 # 主要往來銀行 華僑銀行(香港)有限公司 交通銀行股份有限公司 香港分行 鄞州銀行 中國銀行(香港)有限公司 北京銀行 # 公司網址 www.auxint.com # 股份代號 2080 # Management Discussion and Analysis 管理層討論與分析 # BUSINESS REVIEW The principal business activities of AUX International Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") are (i) provision of property management services in the People's Republic of China (the "PRC" or "China") (the "Property Management Segment"); and (ii) provision of property management related value-added services in the PRC (the "Property Management Related Value-Added Services"). During the six months ended 30 September 2025 (the "Reporting Period"), China's macroeconomic conditions remained subdued with persistent structural adjustments and volatile interest rate expectations, thereby intensifying pressure on the real estate sector. As a result, the property management industry, which is closely linked to the real estate market, continued to face a challenging operating landscape. Despite these challenges, the Group remained focused on its core competencies in property management and demonstrated resilience through disciplined cost control, operational streamlining, and selective project expansion. While the pace of new project expansion moderated due to cautious sentiment among developers and increased market competition among existing projects, the Group maintained a stable managed gross floor area ("GFA") portfolio as our emphasis on service quality and customer retention mitigated the impact of reduced new business opportunities. During the Reporting Period, the Group recorded a modest decrease in revenue, primarily due to the adjustment of value-added services from product-oriented services to service-based value-added services. # 業務回顧 奥克斯國際控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）之主要業務為(i)於中華人民共和國（「中國內地」或「中國」）提供物業管理服務（「物業管理分部」）；及(ii)於中國提供物業管理相關增值服務（「物業管理相關增值服務」）。 截至二零二五年九月三十日止六個月期間(「報告期間」)，因持續結構性調整和利率預期波動，中國宏觀經濟狀況持續低迷，從而加劇對地產行業構成的壓力。因此，與地產市場有密切關係的物業管理行業繼續面臨嚴峻的經營環境。 儘管面臨該等挑戰，本集團仍專注於其核心的物業管理能力，並透過嚴格的成本控制、精簡營運和選擇性發展項目展現出強大的韌性。雖然發展商的謹慎態度和現有項目之間日益激烈的市場競爭，使新項目發展的步伐有所放緩，但本集團仍保持穩定管理的總建築面積(「總建築面積」)組合，此乃由於我們對服務質素和挽留客戶的重視，有效減輕新業務機會減少帶來的影響。 在報告期間內，本集團錄得收入略有減少，主要由於增值服務由產品導向型服務調整為服務導向增值服務。 # Management Discussion and Analysis 管理層討論與分析 Over the years, the Group has established a comprehensive portfolio of services catering to a diverse range of properties, including residential projects, class-A office buildings, commercial complexes, hospitals, and industrial parks. In light of the continued downturn in China's real estate sector and intensifying market competition, the Group has adopted a more prudent strategic approach to prioritize the maintenance and optimization of existing projects. While the Group remains committed to serving both residential and non-residential segments, particular emphasis has been placed on industrial parks, which continue to demonstrate a relatively stable demand. As of 30 September 2025, the number of projects managed by Shuyi Property Management Services Co., Ltd, an indirect wholly-owned subsidiary of the Company, remained stable at 58 projects, with the aggregated GFA maintained at approximately 9.9 million square meters, consistent with the position as of 30 September 2024. The stability in project numbers and GFA demonstrates the effectiveness of the Group's strategic emphasis on sustaining existing engagements, especially in light of the fierce market competition and challenging operating environment. During the Reporting Period, the Group continued to optimize its project portfolio, focusing on securing contracts with stronger revenue potential and operational efficiency. As a result, the Group recorded revenue from property management contracts of approximately HK$150.4 million for the six months ended 30 September 2025, which remained stable as compared with approximately HK$148.4 million for the six months ended 30 September 2024. 多年來，本集團已建立涵蓋各類物業（包括住宅項目、甲級寫字樓、商業綜合大樓、醫院及工業園）的綜合服務組合。由於中國地產市場持續低迷和市場競爭加劇，本集團採取了更審慎的策略，以優先維護和改善現有項目。本集團繼續服務住宅和非住宅市場，尤其重視需求持續相對穩定的工業園。 於二零二五年九月三十日，本公司間接全資附屬公司曙一物業服務有限公司管理的項目數目穩定維持58項，總建築面積合共維持約9.9百萬平方米，與二零二四年九月三十日的水平一致。穩定的項目數目及總建築面積展現本集團專注於維持現有業務(尤其在激烈的市場競爭和充滿挑戰的經營環境下)的策略重點是有成效。於報告期間，本集團持續改善項目組合，集中於獲取收益潛力及營運效率更高的合約。因此，本集團截至二零二五年九月三十日止六個月的物業管理合約收入為約150.4百萬港元，與截至二零二四年九月三十日止六個月約148.4百萬港元相比乃保持穩定。 # Management Discussion and Analysis 管理層討論與分析 Revenue from property management related value-added services has decreased by HK\\(6.9 million, from HK\\)20.3 million for the six months ended 30 September 2024 to HK\\(13.4 million for the six months ended 30 September 2025. The decrease is mainly attributed to the Group continuing adjustment to reallocate resources from retail of low-margin home living products to focus on providing more high value services to property owners. In line with the decrease in the Group's property management related value-added services, the cost of inventories sold decreased by HK$5.7 million from HK$15.9 million for the six months ended 30 September 2024 to HK$10.2 million during the Reporting Period. As a result, profit for the year generated from the Property Management Segment and the Property Management Related Value Added Services (the "Continuing Operation") increased by HK$1.2 million from HK$16.8 million for the six months ended 30 September 2024 to HK$18.0 million for the six months ended 30 September 2025. # Discontinued Operation Following the lease expiration for the premises on 30 June 2024, the club known as "Zentral" ceased operations, marking the conclusion of the Group's lifestyle entertainment business (the "Discontinued Operation"). As the exit was fully completed in 2024, the Discontinued Operation did not incur any expense during the Reporting Period as compared to HK$2.5 million in the six months ended 30 September 2024. 物業管理相關增值服務收入由截至二零二四年九月三十日止六個月20.3百萬港元，減少6.9百萬港元至截至二零二五年九月三十日止六個月的13.4百萬港元。減幅乃主要由於本集團持續調整資源分配，將部分資源由低利潤的家居生活產品零售轉移至集中於向物業持有人提供更有價值的服務。 隨著本集團物業管理相關增值服務減少，已售存貨成本由截至二零二四年九月三十日止六個月15.9百萬港元減少5.7百萬港元至報告期間的10.2百萬港元。 因此，物業管理分部及物業管理相關增值服務（「持續經營業務」）的年度溢利由截至二零二四年九月三十日止六個月16.8百萬港元增加1.2百萬港元至截至二零二五年九月三十日止六個月18.0百萬港元。 # 已終止經營業務 自場地的租約於二零二四年六月三十日到期後，名為「Zentral」的會所終止營業，本集團生活娛樂業務（「已終止經營業務」隨即結束。由於結束業務已於二零二四年完成，截至二零二五年九月三十日止六個月，本集團的已終止經營業務並無錄得任何開支，而截至二零二四年九月三十日止六個月則為2.5百萬港元。 # Management Discussion and Analysis 管理層討論與分析 Overall, the Group recorded a net profit for the six months ended 30 September 2025 of approximately HK$18.0 million as compared to net profit for the six months ended 30 September 2024 of approximately HK$14.3 million. Such increase was mainly attributable to the cessation of the Group's lifestyle entertainment business. # OPERATING COSTS # Property Cleaning Expenses The property cleaning expenses remained stable at approximately HK$29.5 million for the six months ended 30 September 2025 compared to approximately HK$29.5 million for the six months ended 30 September 2024. It was mainly due to the consistent number of projects managed and the stable aggregate gross floor area under management during the Reporting Period. # Staff Costs The staff costs comprised salaries, wages, discretionary bonus and other benefits including retirement benefit costs and other allowances and benefits payable to the permanent staff and part-time staff. The staff costs decreased by approximately \(3.8\%\) or HK\\(2.4 million to approximately HK\\)60.6 million for the six months ended 30 September 2025 from approximately HK\\)63.0 million for the six months ended 30 September 2024. The decrease was mainly due to the continued reduction in the number of security staff hired, as the Group commenced subcontracting most of its security services in April 2024. 整體而言，本集團截至二零二五年九月三十日止六個月錄得溢利淨額約18.0百萬港元，而截至二零二四年九月三十日止六個月之溢利淨額約為14.3百萬港元。該增幅主要由於本集團終止生活娛樂業務所致。 # 營運成本 # 物業清潔開支 物業清潔開支截至二零二五年九月三十日止六個月維持穩定於約29.5百萬港元，而截至二零二四年九月三十日止六個月約29.5百萬港元。此乃主要由於報告期間管理的項目數目穩定，及管理的總建築面積保持穩定。 # 員工成本 員工成本包括薪金、工資、酌情花紅及其他福利，其中包括退休福利成本及應支付予長期員工及兼職員工的其他津貼及福利。員工成本由截至二零二四年九月三十日止六個月約63.0百萬港元減少約 $3.8\%$ 或2.4百萬港元至截至二零二五年九月三十日止六個月約60.6百萬港元。減幅主要由於本集團由二零二四年四月起將大部分保安服務外判，所聘用的保安員工數目的持續減少。 # Management Discussion and Analysis 管理層討論與分析 # Utilities Expenses and Repair and Maintenance Expenses The utilities expenses and repair and maintenance expenses decreased by \(12.5\%\) or HK\\(2.0 million to approximately HK\\)14.0 million for the six months ended 30 September 2025 from approximately HK\\)16.0 million for the six months ended 30 September 2024. The utilities expenses and repair and maintenance expenses decreased mainly due to the implementation of energy saving programme. # Other Operating Expenses Other operating expenses included gardening costs, security costs and other miscellaneous expenses. The other operating expenses increased by approximately $11.8\%$ or HK\ $2.3 million to approximately HK\$ 21.8 million for the six months ended 30 September 2025 compared to approximately HK\ $19.5 million for the six months ended 30 September 2024. The increase was mainly due to the net impact of increase in security costs of HK\$ 4.4 million from HK\ $6.6 million for the six months ended 30 September 2024 to HK\$ 10.0 million for the six months ended 30 September 2025 following the outsourcing arrangement, partially offset by the implementation of a cost-saving program. As a result of this program, certain miscellaneous expenses, including low-value consumables recorded a decrease. # 水電費以及維修及維護開支 水電費以及維修及維護開支由截至二零二四年九月三十日止六個月約16.0百萬港元減少 $12.5\%$ 或2.0百萬港元至截至二零二五年九月三十日止六個月14.0百萬港元。水電費以及維修及維護開支減少主要由於實施節能計劃。 # 其他經營開支 其他經營開支包括園藝成本、保安成本及其他雜項費用。其他經營開支由截至二零二四年九月三十日止六個月約19.5百萬港元增加約 $11.8\%$ 或2.3百萬港元至截至二零二五年九月三十日止六個月約21.8百萬港元。增幅主要由於實行外判安排後，保安開支由截至二零二四年九月三十日止六個月的6.6百萬港元增加4.4百萬港元至截至二零二五年九月三十日止六個月的10.0百萬港元的淨影響所致，當中被成本節約計劃的實施所部分抵消。由於實施該計劃，包括低價值消耗品在內的若干雜項開支有所減少。 # LIQUIDITY, FINANCIAL RESOURCES AND GEARING As at 30 September 2025, the Group's total current assets and current liabilities were approximately HK$409.8 million (31 March 2025: HK$396.5 million) and HK$198.7 million (31 March 2025: HK$264.1 million) respectively, while the current ratio was 2.1 times (31 March 2025: 1.5 times). As at 30 September 2025, the Group maintained cash at bank and in hand of approximately HK$72.4 million (31 March 2025: HK$103.8 million). In the foreseeable future, the Group expects to fund its capital expenditures, working capital and other capital requirement from the net proceeds from placing new shares under general mandate according to their designated uses and cash generated from its operations and other financing means which the Company may from time to time consider appropriate. Total interest-bearing borrowings of the Group as at 30 September 2025 was approximately HK\\(3.1 million (31 March 2025: HK\\)56.9 million). The decrease in interest-bearing borrowing was mainly due to the settlement of the amount due to a related company of HK\\)53.6 million in May 2025. The gearing ratio, which is calculated by dividing total interest-bearing borrowings by total equity, as at 30 September 2025 was 0.01 (31 March 2025: 0.2). # 流動資金、財務資源及資產負債 於二零二五年九月三十日，本集團之總流動資產及流動負債分別為約409.8百萬港元（二零二五年三月三十一日：396.5百萬港元）及198.7百萬港元（二零二五年三月三十一日：264.1百萬港元），而流動比率約為2.1倍（二零二五年三月三十一日：1.5倍）。 於二零二五年九月三十日，本集團之銀行存款及現金為約72.4百萬港元（二零二五年三月三十一日：103.8百萬港元）。本集團預期於可見將來，運用根據一般授權並按其指定用途配售新股所得之款項淨額、經營活動所得現金及本公司可能不時認為恰當之其他融資方式支付其資本開支、營運資金及其他資本需求。 於二零二五年九月三十日，本集團的計息借款總額約3.1百萬港元（二零二五年三月三十一日：56.9百萬港元）。計息借款減少主要由於二零二五年五月已償還應付關聯公司53.6百萬港元的款項。於二零二五年九月三十日，以計息借款總額除以權益總額計算的負債比率為0.01（二零二五年三月三十一日：0.2）。 # CAPITAL STRUCTURE The Group manages its capital to safeguard the Group's ability to continue as a going concern while maximising the return to its shareholders through maintaining the equity and debt in a balanced position. As at 30 September 2025, the capital structure of the Group consisted of equity of approximately HK$273.1 million (31 March 2025: HK$250.7 million) and loans from the controlling shareholder of approximately HK$38.3 million as at 30 September 2025 (31 March 2025: HK$38.3 million). Except for the loans from the controlling shareholder, the Group had no other bank borrowings, debt securities or other capital instruments as at 30 September 2025. # MATERIAL ACQUISITIONS OR DISPOSALS OF SUBSIDIARIES, ASSOCIATED COMPANIES OR JOINT VENTURES AND SIGNIFICANT INVESTMENTS HELD Save as disclosed above, the Group did not have any material acquisitions or disposals of subsidiaries or associated companies or joint ventures or significant investments during the six months ended 30 September 2025. # 資本架構 本集團管理其資本以保證本集團持續經營的能力，並透過維持權益及債務平衡為股東爭取最大回報。於二零二五年九月三十日，本集團的資本結構包括約273.1百萬港元的權益（二零二五年三月三十一日：250.7百萬港元）及於二零二五年九月三十日來自控股股東貸款約38.3百萬港元（二零二五年三月三十一日：38.3百萬港元）。除來自控股股東貸款之外，於二零二五年九月三十日，本集團並無其他銀行借款、債券或其他資本工具。 # 附屬公司、聯營公司或合營企業之重大收購或出售及持有之重大投資 除上文所披露者外，本集團於截至二零二五年九月三十日止六個月並無進行任何附屬公司或聯營公司或合營企業之重大收購或出售或重大投資。 # Management Discussion and Analysis 管理層討論與分析 # CHARGE ON ASSETS As at 30 September 2025, the Group did not have any pledged assets (31 March 2025: Nil). # FUTURE PLANS FOR MATERIAL INVESTMENT OR CAPITAL ASSETS Save as disclosed in the sections headed "Capital Structure" and "Material Acquisitions or Disposals of Subsidiaries, Associated Companies or Joint Ventures and Significant Investment Held" in this interim report, the Group did not have other plans for material investment or capital assets as at 30 September 2025. The Group remains committed to conducting ongoing evaluation for its strategic development director, with a view to identifying viable opportunities to broaden its income base. This may involve exploring potential business ventures and investment initiative across various sectors, which could include, but are not limited to, asset acquisition, disposals, or other forms of corporate restructuring. Any such plans will be subject to review and approval by the Board and compliance with the applicable requirements under the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") where appropriate. # 資產抵押 於二零二五年九月三十日，本集團並無任何已抵押資產（二零二五年三月三十一日：無）。 # 重大投資或資本資產之未來計劃 除本中期報告「資本架構」及「附屬公司、聯營公司或合營企業之重大收購或出售及持有之重大投資」各節所披露者外，於二零二五年九月三十日，本集團並無其他重大投資或資本資產之計劃。 本集團致力持續對其策略發展總監進行持續評估，以尋找拓展收入來源的可行機會。此舉可能有關尋找各個領域的潛在商業項目和投資計劃，當中包括但不限於資產收購、出售或以其他形式的企業重組。任何相關計劃須待董事會審核及批准並適時遵守香港聯合交易所有限公司(「聯交所」)證券上市規則(「上市規則」)的適用規定。 # Management Discussion and Analysis 管理層討論與分析 # FOREIGN EXCHANGE EXPOSURE The Group operates in Hong Kong and the PRC and is exposed to foreign exchange risk arising from RMB. Foreign exchange risk arises from future commercial transactions, recognised assets and liabilities denominated in RMB for the entities with a functional currency in HKD. The Group did not use any forward contracts to hedge its foreign currency exposure during the reporting period. The Group will from time to time review and adjust the Group's hedging and financial strategies based on the RMB and HKD exchange rate movement. # EMPLOYEE AND REMUNERATION POLICY As at 30 September 2025, the Group had 818 employees (31 March 2025: 873 employees). The Group offers competitive remuneration packages to its staff, including share option scheme, mandatory provident fund schemes and discretionary bonus. # PROSPECTS Despite persistent challenges in China's real estate sector, the Group remains cautiously optimistic about sustaining profitability from its property management business. Leveraging its deep industry experience and operational capabilities, the Group continues to deliver high quality property management services across residential, commercial, industrial and healthcare segments. # 外匯風險 本集團於香港及中國經營業務，並面對來自人民幣的外匯風險。外匯風險來自於未來商業交易及確認以港元為功能貨幣的實體以人民幣計值的資產及負債。本集團於報告期間並未利用任何遠期合約對沖其外幣風險。本集團將根據人民幣及港元之間的匯率變動，不時審閱並調整本集團的對沖及財務策略。 # 僱員及薪酬政策 於二零二五年九月三十日，本集團有818名僱員（二零二五年三月三十一日：873名僱員）。本集團向其員工提供具競爭力之薪酬方案，包括購股權計劃、強制性公積金計劃及酌情花紅。 # 展望 儘管中國地產行業持續面臨挑戰，但本集團對物業管理業務的盈利前景仍保持謹慎樂觀。憑藉深厚的行業經驗和營運能力，本集團將繼續在住宅、商業、工業和醫療等領域提供高質素的物業管理服務。 # Management Discussion and Analysis 管理層討論與分析 Following the full exit from its lifestyle entertainment operations in Hong Kong in 2024, the Group has redirected its resources and attention to core business areas with more stable and scalable growth potential. This strategic realignment has enabled the Group to reinforce its operational efficiency and sharpen its focus on long-term value creation. In view of the competitive market landscape, the Group has adopted a prudent approach to prioritize the maintenance and optimization of its existing project portfolio. The Group remains open to new opportunities and will continue to evaluate potential business and investment opportunities that align with its core competencies and financial objectives. With a strong foundation of client trust and service excellence, the Group is well-positioned to navigate the current market environment and deliver sustainable returns to its shareholders. 本集團將於二零二四年全面結束在香港的生活娛樂業務，並將資源和精力重新集中在更穩定和具可發展增長潛力的核心業務領域。該策略調整使本集團可提升營運效率，並更加專注於創造長遠價值。 由於市場環境競爭激烈，本集團採取審慎方針，以優先維護和改善現有項目組合。本集團會保持開放迎接新機會並將持續評估符合其核心競爭力及財務目標的潛在商業和投資機會。 憑藉客戶信賴和卓越服務的穩固根基，本集團有能力應對當前的市場環境，並為股東帶來可持續的回報。 # INTERIM DIVIDEND The Board did not recommend the payment of an interim dividend for the six months ended 30 September 2025 (for the six months ended 30 September 2024: Nil). # COMPLIANCE WITH THE MODEL CODE FOR SECURITIES TRANSACTIONS The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the "Model Code") set out in Appendix C3 to the Listing Rules as its own code of conduct regarding securities transactions by the Directors. The Company has made specific enquiry of all Directors regarding any non-compliance with the Model Code. All the Directors confirmed that they have fully complied with the required standard set out in the Model Code during the six months ended 30 September 2025. # 中期股息 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：零)。 # 遵守進行證券交易的標準守則 本公司已採納上市規則附錄C3所載的上市發行人董事進行證券交易的標準守則(「標準守則」)為其就董事進行證券交易之操守準則。本公司已就有否任何違反標準守則的情況向全體董事作出具體查詢。全體董事均確認，彼等於截至二零二五年九月三十日止六個月已完全遵守標準守則所規定之標準。 # DIRECTORS' AND CHIEF EXECUTIVE'S INTEREST AND SHORT POSITIONS IN SHARES, UNDERLYING SHARES AND DEBENTURES As at 30 September 2025, the interests or short positions of the Directors and chief executive of the Company in the shares, underlying shares and debentures of the Company and any of its associated corporations (within the meaning of Part XV of the Securities and Future Ordinance (the "SFO")), which had been notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which the Directors and chief executive were deemed or taken to have under such provisions of the SFO) or were recorded in the register required to be kept, pursuant to section 352 of the SFO, or had been notified to the Company pursuant to the Model Code contained in the Listing Rules were as follows: 董事及最高行政人員於股份、相關股份及債權證中之權益及淡倉 於二零二五年九月三十日，本公司董事及最高行政人員於本公司及其任何相聯法團（定義見證券及期貨條例「證券及期貨條例」第XV部）之股份、相關股份及債權證中擁有根據證券及期貨條例第XV部第7及8分部已知會本公司及聯交所之權益或淡倉（包括根據證券及期貨條例該等條文視為或當作由董事及最高行政人員擁有之權益及淡倉），或根據證券及期貨條例第352條已記入須存置之登記冊之權益或淡倉，或根據上市規則所載標準守則已知會本公司之權益或淡倉如下： # (A) Long position in Ordinary Shares # (A) 普通股之好仓 <table><tr><td rowspan="2">Name of shareholder</td><td rowspan="2">Capacity/ Nature of Interest</td><td rowspan="2">Long position in ordinary shares held</td><td>Percentage of the issued share capital (approximately) (Note 1)</td></tr><tr><td rowspan="2">已發行股本 百分比 (概約) (附註1)</td></tr><tr><td>股東姓名</td><td>身份/權益性質</td><td>持有的普通股 之好倉</td></tr><tr><td>Zheng Jian Jiang (Note 2)</td><td>Interest in a controlled corporation</td><td>337,950,000</td><td>68.55%</td></tr><tr><td>鄭堅江 (附註2)</td><td>受控法團權益</td><td></td><td></td></tr><tr><td colspan="2">Notes:</td><td>附註：</td><td></td></tr><tr><td>1.</td><td>On the basis of 492,984,000 shares of the Company in issue as at 30 September 2025.</td><td>1.</td><td>根據本公司於二零二五年九月 三十日已發行股份492,984,000股 為基礎。</td></tr><tr><td>2.</td><td>These shares were held by Huiri Limited, a company incorporated in the British Virgin Islands with limited liability which is owned as to 90% by Ze Hui Limited, a wholly-owned company by Mr. Zheng Jian Jiang.</td><td>2.</td><td>該等股份由匯日控股有限公司 （一間於英屬處女群島註冊成立的有限公司）持有，而匯日控股有限公司90%權益由鄭堅江先生全資擁有的公司澤惠有限公司持有。</td></tr></table> # (B) Long positions in the shares and underlying shares of associated corporation of the Company # (B) 於本公司相聯法團之股份及相關股份之好倉 <table><tr><td>Name of associated Corporation</td><td>Name of Directors</td><td>Capacity/Nature of interest</td><td>Number and class of shares</td><td rowspan="2">Approximately Percentage of the issued share capital已發行股本之概約百分比</td></tr><tr><td>相聯法團名稱</td><td>董事姓名</td><td>身份／權益性質</td><td>股份數目及類別</td></tr><tr><td>Huiri Limited (Note 1)</td><td>Zheng Jiang</td><td>Interest in a controlled corporation</td><td>0.1 ordinary shares</td><td></td></tr><tr><td>匯日控股有限公司(附註1)</td><td>鄭江</td><td>受控法團權益</td><td>0.1 股普通股</td><td></td></tr><tr><td>Huiri Limited (Note2)</td><td>Zheng Jian Jiang</td><td>Interest in a controlled corporation</td><td>0.9 ordinary shares</td><td></td></tr><tr><td>匯日控股有限公司(附註2)</td><td>鄭堅江</td><td>受控法團權益</td><td>0.9 股普通股</td><td></td></tr><tr><td>China Prosper Enterprise Holding Co., Ltd. (Note 1)</td><td>Zheng Jiang</td><td>Interest in a controlled corporation</td><td>1,000 ordinary shares</td><td></td></tr><tr><td>China Prosper Enterprise Holding Co., Ltd. (附註1)</td><td>鄭江</td><td>受控法團權益</td><td>1,000 股普通股</td><td></td></tr><tr><td>China Prosper Enterprise Holding Co., Ltd. (Note 2)</td><td>Zheng Jian Jiang</td><td>Interest in a controlled corporation</td><td>8,500 ordinary shares</td><td></td></tr><tr><td>China Prosper Enterprise Holding Co., Ltd. (附註2)</td><td>鄭堅江</td><td>受控法團權益</td><td>8,500 股普通股</td><td></td></tr></table> # Note: 1. Ze Hong Limited, a company wholly owned by Mr. Zheng Jiang, was interested in (i) $10\%$ of the issued share capital of Huiri Limited, being the holding company of the Company; and (ii) $10\%$ of the issued share capital of China Prosper Enterprise Holding Co., Ltd., being a fellow subsidiary of Huiri Limited. Mr. Zheng Jiang was deemed to be interested in the shares of Huiri Limited and China Prosper Enterprise Holding Co., Ltd. as held by Ze Hong Limited by virtue of the SFO. 2. Ze Hui Limited, a company wholly-owned by Mr. Zheng Jian Jiang, was interested in (i) $90\%$ of the issued share capital of Huiri Limited, being the holding company of the Company; and (ii) $85\%$ of the issued share capital of China Prosper Enterprise Holding Co., Ltd., being a fellow subsidiary of Huiri Limited. Mr. Zheng Jian Jiang was deemed to be interested in the shares of Huiri Limited and China Prosper Enterprise Holding Co., Ltd as held by Ze Hui Limited by virtue of the SFO. # 附註： 1. 鄭江先生全資擁有的公司澤宏有限公司於(i)本公司的控股公司匯日控股有限公司已發行股本的 $10\%$ ；及(ii)匯日控股有限公司的同系附屬公司ChinaProsperEnterpriseHoldingCo.,Ltd.已發行股本的 $10\%$ 中擁有權益。根據證券及期貨條例，鄭江先生被視為於澤宏有限公司持有的匯日控股有限公司及ChinaProsperEnterpriseHoldingCo.,Ltd.的股份中擁有權益。 2. 鄭堅江先生全資擁有的澤惠有限公司於(i)匯日控股有限公司(本公司的控股公司)90%的已發行股本；及(ii)China Prosper Enterprise Holding Co., Ltd.(匯日控股有限公司的同系附屬公司)85%的已發行股本中擁有權益。根據證券及期貨條例，鄭堅江先生被視為於澤惠有限公司所持有的匯日控股有限公司及China Prosper Enterprise Holding Co., Ltd.的股份擁有權益。 Apart from the foregoing, no other interests and short positions required to be recorded in the register kept under section 352 of the SFO have been notified to the Company. 除上述者外，本公司並不知悉其他須記錄於根據證券及期貨條例第352條所存置的登記冊內之權益及淡倉。 # SUBSTANTIAL SHAREHOLDERS' INTERESTS AND SHORT POSITIONS IN SHARES AND UNDERLYING SHARES As at 30 September 2025, the interests and short positions of persons other than the chief executive of the Company who had interests or short positions in the shares or underlying shares of the Company which would fail to be disclosed to the Company and the Stock Exchange under the provisions of Companies 2 and 3 of Part XV of the SFO as recorded in the register referred to in section 336 of the Company pursuant to section 336 of the SFO were as follows: # 主要股東於股份及相關股份之權益及淡倉 於二零二五年九月三十日，按本公司根據證券及期貨條例第336條存置之登記冊所記錄，下列人士(本公司最高行政人員除外)於本公司股份或相關股份中，擁有須根據證券及期貨條例第XV部第2及3分部條文向本公司及聯交所披露之權益及淡倉如下： <table><tr><td rowspan="2">Name of shareholder</td><td rowspan="2">Capacity/Nature of Interest</td><td>Long position in ordinary shares held</td><td>Percentage of the issued share capital (approximately) (Note 1) 已發行股本百分比 (概約)</td></tr><tr><td>持有普通股之好倉</td><td>(附註1)</td></tr><tr><td>股東姓名</td><td>身份/權益性質</td><td>337950000</td><td>68.55%</td></tr><tr><td>Ze Hui Limited (Note 2)</td><td rowspan="2">Interest in a controlled corporation 受控制法團權益</td><td></td><td></td></tr><tr><td>澤惠有限公司(附註2)</td><td></td><td></td></tr><tr><td>Huiri Limited (Note 2)</td><td rowspan="2">Beneficial owner 寶益擁有人</td><td>33795000</td><td>68.55%</td></tr><tr><td>匯日控股有限公司(附註2)</td><td></td><td></td></tr><tr><td>He Yi Ju (Note 3)</td><td>Interest of spouse</td><td>33795000</td><td>68.55%</td></tr><tr><td>何意菊(附註3)</td><td>配偶權益</td><td></td><td></td></tr><tr><td>Xu Xingen</td><td rowspan="2">Beneficial owner 寶益擁有人</td><td>32400000</td><td>6.57%</td></tr><tr><td>徐信根</td><td></td><td></td></tr></table> # Notes: 1. On the basis of 492,984,000 shares of the Company in issue as at 30 September 2025. 2. Huiri Limited is a company incorporated in the British Virgin Islands with limited liability which is owned as to $90\%$ by Ze Hui Limited (which is in turn wholly and beneficially owned by Mr. Zheng Jian Jiang, a current non-executive Director) and $10\%$ by Ze Hong Limited (which is in turn wholly and beneficially owned by Mr. Zheng Jiang, a current executive Director). Each of Mr. Zheng Jian Jiang and Ze Hui Limited is deemed to be interested in all the Shares in which Huiri Limited is interested by virtue of the SFO. 3. Ms. He Yi Ju is the spouse of Mr. Zheng Jian Jiang. Under the SFO, Ms. He Yi Ju was taken to be interested in the same number of shares in which Mr. Zheng Jian Jiang was interested. Apart from the foregoing, no other interests and short positions required to be recorded in the register kept under section 336 of the SFO have been notified to the Company. # 附註： 1. 基於本公司於二零二五年九月三十日已發行492,984,000股股份。 2. 匯日控股有限公司為一間於英屬處女群島註冊成立的有限公司，由澤惠有限公司（由現時非執行董事鄭堅江先生全資實益擁有）及澤宏有限公司（由現時執行董事鄭江先生全資實益擁有）分別擁有90%及10%權益。根據證券及期貨條例，鄭堅江先生及澤惠有限公司各自被視為於匯日控股有限公司擁有權益的所有股份中擁有權益。 3. 何意菊女士為鄭堅江先生的配偶。根據證券及期貨條例，何意菊女士被視為於鄭堅江先生擁有權益的相同數目股份中擁有權益。 除上述者外，本公司並不知悉其他須記錄於根據證券及期貨條例第336條所存置之登記冊內之權益及淡倉。 # SHARE OPTION SCHEMES # 2024 Share Option Scheme The Company adopted a share option scheme (the "2024 Share Option Scheme") on 20 February 2024 which shall be valid and effective for a period of 10 years from that date and accordingly have a remaining life until 19 February 2034, subject to early termination by the Company in a general meeting or by the Board. The purpose of the 2024 Share Option Scheme is to (i) to enable the Company to grant options to the eligible participants detailed below as incentives or rewards for their contribution to the growth and development of the Group; (ii) to attract and retain personnel to promote the sustainable development of the Group; and (iii) to align the interest of the grantees with those of the Shareholders to promote the long-term financial and business performance of the Group. Under the 2024 Share Option Scheme, the Board may offer to grant options to the following eligible persons, being employees (whether full time or part time, and including directors) of the Company or any of its subsidiaries (within the meaning of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong)) from time to time, including persons who are granted options under the 2024 Share Option Scheme as an inducement to enter into employment contracts with these companies. # 購股權計劃 # 二零二四年購股權計劃 本公司於二零二四年二月二十日採納一項購股權計劃（「二零二四年購股權計劃」），由當日起計有效期為10年，因此餘下的期限至二零三四年二月十九日止，並可由本公司於股東大會決定或由董事會決定提早終止。二零二四年購股權計劃旨在(i)使本公司能夠向下文詳述的合資格參與者授出購股權，作為對彼等對本集團增長及發展作出貢獻的獎勵或回報；(ii)吸引及挽留人才，以促進本集團的可持續發展；及(iii)使承授人的利益與股東的利益保持一致，以促進本集團的長期財務及業務表現。根據二零二四年購股權計劃，董事會可建議向下列合資格人士授出購股權，即本公司或其不時之任何附屬公司（具香港法例第622章公司條例所賦予之涵義）的僱員（不論全職或兼職，包括董事），包括根據二零二四年購股權計劃獲授予購股權的人士，以推動與該等公司訂立僱傭合約。 A total of 49,298,400 Shares may be issued in respect of all share options that may be granted under the 2024 Share Option Scheme, representing $10\%$ of the total number of issued Shares as at 20 February 2024 (the date of adoption of the 2024 Share Option Scheme). Where any offer of options to a participant under the 2024 Share Option Scheme would result in the Shares issued and to be issued in respect of all options granted to the participant under the 2024 Share Option Scheme and all options and awards granted to the participant under any other share schemes of the Company (excluding all options that have lapsed in accordance with the terms of the 2024 Share Option Scheme and all options and awards that have lapsed in accordance with the terms of any other share schemes of the Company) in the 12-month period up to and including the offer date representing in aggregate over $1\%$ of the total number of Shares in issue, such an offer must be separately approved by the shareholders at a general meeting. 根據二零二四年購股權計劃可能授出的所有購股權可發行合共49,298,400股股份，佔於二零二四年二月二十日（採納二零二四年購股權計劃當日）已發行股份總數 $10\%$ 。倘根據二零二四年購股權計劃向參與者要約任何購股權，將導致於截至要約日期止12個月(包括該日)期間內，就根據二零二四年購股權計劃向參與者授出的所有購股權及根據任何其他股份計劃向參與者授出的所有購股權及獎勵(不包括根據二零二四年購股權計劃條款已失效的所有購股權及根據本公司任何其他股份計劃條款已失效的所有購股權和獎勵)而已發行及將予發行的股份合共佔已發行股份總數超過 $1\%$ ，有關要約須經股東於股東大會上另行批准。 An offer shall have been accepted by a participant in respect of all the options which are offered to such a participant when the duplicate letter comprising acceptance of the offer duly signed by the participant together with a remittance in favour of the Company of HK$1.00 by way of consideration for the grant thereof is received by the Company within such time as may be specified in the offer (which period shall be up to 21 days from the offer date). The option period within which an option may be exercised by a grantee may be determined and notified by the Board to the grantee, which must not be more than 10 years from the offer date of the option. In the absence of such determination, the option period of an option shall commence on the offer date of the option and end on the earlier of (i) the date on which the option is cancelled or lapses under the 2024 Share Option Scheme; and (ii) the expiration of the period of 10 years from the offer date of the option. The vesting period in respect of an option, which shall commence on the date on which the grantee accepts the offer of the option and end on the vesting date, shall not be shorter than 12 months from the date of acceptance of the offer, unless a shorter vesting period is set in accordance with the provisions of the 2024 Share Option Scheme. The Remuneration Committee (or, as the case may be, the Board) may further establish performance target(s) in respect of specific grantees, the attainment of which shall be a precondition for any exercise of the options granted to the grantees concerned under the 2024 Share Option Scheme. 當本公司在要約可能訂明的有關時間內（該期限自要約日期起最多21天）收訖經參與人士正式簽署的接納要約函件複本，連同作為獲授購股權代價向本公司支付的1.00港元付款時，參與人士將被視為已接納向其提供的所有購股權的要約。承授人可行使購股權的購股權期間可由董事會釐定並通知承授人，惟不得超過購股權要約日期起計10年。倘並無釐定有關期間，購股權的購股權期間將自購股權要約日期開始，直至(i)購股權根據二零二四年購股權計劃被註銷或失效當日；及(ii)購股權要約日期起計10年期限屆滿(以較早者為準)為止。 購股權之歸屬期由承授人接納購股權要約日期開始，至歸屬日期結束，惟不得少於接納要約日期起計12個月，惟根據二零二四年購股權計劃規定而設定的較短歸屬期則除外。薪酬委員會(或視乎情況而定，董事會)可進一步為指定承授人訂立績效目標，而達成該目標則為行使根據二零二四年購股權計劃授予有關承授人的購股權的先決條件。 The price per share at which a grantee may subscribe for the share on the exercise of an option granted under the 2024 Share Option Scheme shall be determined at the discretion of the Board, provided that it must be at least the highest of: (a) the closing price of the shares as stated in the Hong Kong Stock Exchange's daily quotations sheet on the offer date, which must be a business day; (b) the average closing price of the shares as stated in the Hong Kong Stock Exchange's daily quotations sheets for the five business days immediately preceding the offer date; and (c) the nominal value of a share. 49,298,400 options were available for grant under the scheme mandate of the 2024 Share Option Scheme as at the beginning of the Reporting Period, i.e. 1 April 2025. Since the adoption date of the 2024 Share Option Scheme and up to the date of this interim report, no option had been granted under the 2024 Share Option Scheme. Accordingly, as at the end of the Reporting Period, i.e. 30 September 2025, 49,298,400 options were available for grant under the scheme mandate of the 2024 Share Option Scheme, and the number of shares that may be issued in respect of options and awards granted under all share schemes of the Company during the Reporting Period was nil. As at the date of this interim report, the total number of shares available for issue under the 2024 Share Option Scheme was 49,298,400 Shares, representing $10\%$ of the issued share capital of the Company. 承授人於行使根據二零二四年購股權計劃授出的購股權時可認購股份的每股價格將由董事會酌情釐定，惟不得低於(a)股份於要約日期(必須為營業日)在香港聯交所每日報價表所報的收市價；(b)股份於緊接要約日期前五個營業日在香港聯交所每日報價表所報的平均收市價；及(c)股份的面值當中的最高者。 於報告期間開始時（即二零二五年四月一日），根據二零二四年購股權計劃的計劃授權，49,298,400份購股權可供授出。由於二零二四年購股權計劃獲採納當日直至本中期報告日期，並無根據二零二四年購股權計劃授出任何購股權。因此，於報告期結束時（即二零二五年九月三十日），根據二零二四年購股權計劃的計劃授權，49,298,400份購股權可供授出，且於報告期間，根據本公司所有股份計劃授出的購股權及獎勵可發行的股份數目為零。於本中期報告日期，根據二零二四年購股權計劃可供發行的股份總數為49,298,400股，佔本公司已發行股本 $10\%$ # COMPLIANCE WITH CORPORATE GOVERNANCE CODE The Company has adopted the Corporate Governance Code (the "CG Code")* as set forth in Appendix C1 to the Listing Rules as its corporate governance code of practices. The Board is of opinion that the Company had complied with the code provisions as set out in Part 2 of the CG Code during the six months ended 30 September 2025. * The amendments to the CG Code effective on 1 July 2025 will apply to corporate governance reports and annual reports for financial years commencing on or after 1 July 2025. For this interim report, the Company shall refer to the then effective CG Code. # PURCHASE, SALE OR REDEMPTION OF THE LISTED SECURITIES OF THE COMPANY During the six months ended 30 September 2025, neither the Company nor any of its subsidiaries had purchased, sold or redeemed any of the Company's listed securities. # AUDIT COMMITTEE The primary duties of the audit committee of the Company (the "Audit Committee") are to review and supervise the financial reporting process and internal control procedures of the Company. The Audit Committee had reviewed this report, including the accounting principles and practices adopted by the Group and discussed financial reporting matters concerning the unaudited consolidated results of the Group for the six months ended 30 September 2025, with no disagreement. # 遵守企業管治守則 本公司已採納上市規則附錄C1所載之企業管治守則(「企業管治守則」)*為其企業管治常規守則。董事會認為，本公司於截至二零二五年九月三十日止六個月已遵守企業管治守則第二部分所載之守則條文。 * 二零二五年七月一日生效的企業管治守則之修訂將適用於二零二五年七月一日或之後開始的財政年度的企業管治報告及年度報告。就本中期報告而言，本公司將應用當時有效的企業管治守則。 # 購買、出售或贖回本公司之上市證券 於截至二零二五年九月三十日止六個月內，本公司或其任何附屬公司概無購買、出售或贖回本公司任何上市證券。 # 審核委員會 本公司審核委員會(「審核委員會」)之主要職責為審閱及監管本公司之財務申報流程及內部控制程序。審核委員會已審閱本報告(包括本集團採納之會計原則及常規)，並討論有關本集團截至二零二五年九月三十日止六個月之未經審計綜合業績之財務報告之事宜，並無異議。 # CHANGE IN INFORMATION OF THE DIRECTORS Mr. Poon Chiu Kwok, an independent non-executive Director, was appointed as an independent nonexecutive director of Konka Group Co., Ltd, a company listed on the Shenzhen Stock Exchange (stock code: 000016), with effect from 14 August 2025. Mr. Chau Siu Lun, an independent non-executive Director, was appointed as an independent nonexecutive director of Lam Soon (Hong Kong) Limited, a company listed on the Main Board of the Stock Exchange (Stock code: 411), with effect from 12 November 2025. Mr. Zheng Jian Jiang, a non-executive Director, was appointed as the chairman of the board of directors and an executive director of AUX Electric Co., Ltd., a company listed on the Main Board of the Stock Exchange on 2 September 2025 (Stock Code: 2580), with effect from 23 October 2024. Mr. Zheng Jiang, an executive Director, was appointed as a non-executive director of AUX Electric Co., Ltd., a company listed on the Main Board of the Stock Exchange on 2 September 2025 (Stock Code: 2580), with effect from 23 October 2024. Save as disclosed, there is no other change in the Directors' information required to be disclosed in this interim report pursuant to Rule 13.51B(1) of the Listing Rules. By order of the Board Mr. Zheng Jiang Chairman Hong Kong, 27 November 2025 # 有關董事資料的變更 獨立非執行董事潘昭國先生，自二零二五年八月十四日起獲委任為康佳集團股份有限公司(一間於深圳證券交易所上市的公司，股份代號：000016)的獨立非執行董事。 獨立非執行董事鄒兆麟先生，自二零二五年十一月十二日起獲委任為南順(香港)有限公司(一間於聯交所主板上市的公司，股份代號：411)的獨立非執行董事。 非執行董事鄭堅江先生，自二零二四年十月二十三日起獲委任為奧克斯电气有限公司（一間於二零二五年九月二日於聯交所主板上市的公司，股份代號：2580)的董事會主席及執行董事。 執行董事鄭江先生自二零二四年十月二十三日起獲委任為奧克斯电气有限公司(一間於二零二五年九月二日於聯交所主板上市的公司，股份代號：2580)的非執行董事。 除所披露者外，並無其他董事資料的變更須根據上市規則第13.51B(1)條，於本中期報告內披露。 承董事會命 鄭江先生 主席 香港，二零二五年十一月二十七日 # Review report to the board of directors of AUX International Holdings Limited (Incorporated in the Cayman Islands with limited liability) # INTRODUCTION We have reviewed the interim financial report set out on pages 31 to 68 which comprise the consolidated statement of financial position of AUX International Holdings Limited as of 30 September 2025 and the related consolidated statement of profit or loss, consolidated statement of profit or loss and other comprehensive income and consolidated statement of changes in equity and condensed consolidated cash flow statement for the six-month period then ended and explanatory notes. The Main Board Listing Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of an interim financial report to be in compliance with the relevant provisions thereof and Hong Kong Accounting Standard 34 Interim financial reporting as issued by the Hong Kong Institute of Certified Public Accountants. The directors are responsible for the preparation and presentation of this interim financial report in accordance with Hong Kong Accounting Standard 34. Our responsibility is to express a conclusion, based on our review, on this interim financial report and to report our conclusion solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. # 致奥克斯國際控股有限公司董事會的審閱報告 （於開曼群島註冊成立的有限公司） # 引言 我們已審閱列載於第31至68頁的中期財務報告，此中期財務報告包括奧克斯國際控股有限公司截至二零二五年九月三十日的綜合財務狀況表及截至該日止六個月期間的相關綜合損益表、綜合損益及其他全面收益表、綜合權益變動表及簡明綜合現金流量表及解釋附註。香港聯合交易所有限公司證券上市規則規定，編製中期財務報告須遵守當中有關條文以及香港會計師公會頒佈的香港會計準則第34號中期財務報告。董事須負責根據香港會計準則第34號編製及列報中期財務報告。 我們的責任是根據我們的審閱對中期財務報告作出結論，並按照我們雙方所協定的應聘條款，僅向全體董事會報告，且不作其他用途。我們概不就本報告的內容，對任何其他人士負責或承擔任何責任。 # SCOPE OF REVIEW We conducted our review in accordance with Hong Kong Standard on Review Engagements 2410, Review of interim financial information performed by the independent auditor of the entity as issued by the Hong Kong Institute of Certified Public Accountants. A review of interim financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Hong Kong Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly we do not express an audit opinion. # CONCLUSION Based on our review, nothing has come to our attention that causes us to believe that the interim financial report as at 30 September 2025 is not prepared, in all material respects, in accordance with Hong Kong Accounting Standard 34 Interim financial reporting. # KPMG Certified Public Accountants 8th Floor, Prince's Building 10 Chater Road Central, Hong Kong 27 November 2025 # 審閱範圍 我們已根據香港會計師公會頒佈的香港審閱聘任準則第2410號實體的獨立核數師執行的中期財務資料審閱進行審閱。中期財務報告審閱工作包括主要向負責財務會計事項的人員作出詢問，並實施分析和其他審閱程序。由於審閱的範圍遠較按照香港審計準則進行審計的範圍為小，所以不能保證我們會注意到在審計中可能會被發現的所有重大事項。因此，我們不會發表任何審計意見。 # 結論 根據我們的審閱工作，我們並未注意到任何事項，使我們相信於二零二五年九月三十日的中期財務報告在所有重大方面並無按照香港會計準則第34號中期財務報告的規定編製。 # 畢馬威會計師事務所 執業會計師 香港中環 遮打道10號 太子大厦8樓 二零二五年十一月二十七日 <table><tr><td rowspan="3" colspan="2"></td><td colspan="2">Six months ended 30 September 截至九月三十日止六個月</td></tr><tr><td>2025 二零二五年 $'000</td><td>2024 二零二四年 $'000</td></tr><tr><td>附註</td><td>千港元</td></tr><tr><td>Revenue</td><td>持續經營業務 收益</td><td>3</td><td>163,736</td></tr><tr><td>Other revenue</td><td>其他收益</td><td>4</td><td>3,762</td></tr><tr><td>Other net loss</td><td>其他虧損淨額</td><td>5</td><td>(51)</td></tr><tr><td>Cost of inventories sold</td><td>已售存貨成本</td><td></td><td>(10,187)</td></tr><tr><td>Property cleaning expenses</td><td>物業清潔開支</td><td></td><td>(29,458)</td></tr><tr><td>Staff costs</td><td>員工成本</td><td>6(b)</td><td>(60,556)</td></tr><tr><td>Depreciation and amortisation</td><td>折舊及攤銷</td><td>6(d)</td><td>(4,150)</td></tr><tr><td>Property rentals and related expenses</td><td>物業租金及相關開支</td><td></td><td>(391)</td></tr><tr><td>Utilities expenses</td><td>水電費</td><td></td><td>(4,939)</td></tr><tr><td>Repair and maintenance expenses</td><td>維修及維護開支</td><td></td><td>(9,042)</td></tr><tr><td>Other operating expenses</td><td>其他經營開支</td><td>6(c)</td><td>(21,845)</td></tr><tr><td>Profit from operations</td><td>經營產生溢利</td><td></td><td>26,879</td></tr><tr><td>Finance costs</td><td>融資成本</td><td>6(a)</td><td>(202)</td></tr><tr><td>Profit before taxation</td><td>除稅前溢利</td><td>6</td><td>26,677</td></tr><tr><td>Income tax</td><td>所得稅</td><td>7</td><td>(8,636)</td></tr><tr><td>Profit for the period from continuing operations</td><td>期內持續經營業務溢利</td><td></td><td>18,041</td></tr></table> # Consolidated Statement of Profit or Loss # 綜合損益表 For the six months ended 30 September 2025 – unaudited (Expressed in Hong Kong dollars) 截至二零二五年九月三十日止六個月-未經審核(以港元表示) <table><tr><td></td><td></td><td colspan="2">Six months ended 30 September 截至九月三十日止六個月</td></tr><tr><td></td><td></td><td rowspan="2">2025 二零二五年 $'000 千港元</td><td rowspan="2">2024 二零二四年 $'000 千港元</td></tr><tr><td></td><td>Note 附註</td></tr><tr><td>Discontinued operation</td><td>已終止經營業務</td><td></td><td></td></tr><tr><td>Loss for the period from discontinued operation</td><td>期内已終止經營業務 虧損</td><td>18</td><td>-</td></tr><tr><td>Profit for the period</td><td>期內溢利</td><td></td><td>18,041</td></tr><tr><td>Attributable to shareholders of the Company arising from:</td><td>本公司股東應佔:</td><td></td><td></td></tr><tr><td>Continuing operations</td><td>來自持續經營業務</td><td></td><td>18,041</td></tr><tr><td>Discontinued operation</td><td>來自已終止經營業務</td><td>-</td><td>-</td></tr><tr><td></td><td></td><td>18,041</td><td>14,309</td></tr><tr><td>Profit/(loss) per share - Basic and diluted</td><td>每股溢利/(虧損) -基本及攤薄</td><td>8</td><td rowspan="3">3.7 cents港仙 -3.4 cents港仙 (0.5)cents港仙</td></tr><tr><td>Continuing operations</td><td>來自持續經營業務</td><td></td></tr><tr><td>Discontinued operation</td><td>來自已終止經營業務</td><td></td></tr><tr><td></td><td></td><td>3.7 cents港仙</td><td>2.9 cents港仙</td></tr></table> The notes on pages 41 to 68 form part of this interim financial report. 第41至68頁的附註構成本中期財務報告的一部分。 # Consolidated Statement of Profit or Loss and Other Comprehensive Income 綜合損益及其他全面收益表 For the six months ended 30 September 2025 – unaudited (Expressed in Hong Kong dollars) 截至二零二五年九月三十日止六個月-未經審核(以港元表示) <table><tr><td></td><td></td><td colspan="2">Six months ended 30 September 截至九月三十日止六個月</td></tr><tr><td></td><td></td><td>2025</td><td>2024</td></tr><tr><td></td><td></td><td>二零二五年</td><td>二零二四年</td></tr><tr><td></td><td></td><td>$'000</td><td>$'000</td></tr><tr><td></td><td></td><td>千港元</td><td>千港元</td></tr><tr><td>Profit for the period</td><td>期內溢利</td><td>18,041</td><td>14,309</td></tr><tr><td>Other comprehensive income for the period</td><td>期內其他全面收益</td><td></td><td></td></tr><tr><td>Item that may be reclassified subsequently to profit or loss:</td><td>其後可能重新分類至損益 之項目：</td><td></td><td></td></tr><tr><td>Exchange differences on translation of the financial statements of subsidiaries outside Hong Kong (nil tax effect)</td><td>換算香港境外附屬公司之 財務報表之匯兑差額 （不受稅務影響）</td><td>4,320</td><td>10,824</td></tr><tr><td>Total comprehensive income for the period</td><td>期內全面收益總額</td><td>22,361</td><td>25,133</td></tr><tr><td>Total comprehensive income for the period attributable to shareholders of the Company arising from:</td><td>本公司股東應佔期内 綜合全面收益如下：</td><td></td><td></td></tr><tr><td>Continuing operations</td><td>來自持續經營業務</td><td>22,361</td><td>27,599</td></tr><tr><td>Discontinued operation</td><td>來自已終止經營業務</td><td>-</td><td>(2,466)</td></tr><tr><td></td><td></td><td>22,361</td><td>25,133</td></tr></table> The notes on pages 41 to 68 form part of this interim financial report. 第41至68頁的附註構成本中期財務報告的一部分。 # Consolidated Statement of Financial Position # 綜合財務狀況表 At 30 September 2025 – unaudited (Expressed in Hong Kong dollars) 於二零二五年九月三十日一未經審核(以港元表示) <table><tr><td></td><td></td><td rowspan="4">At 30 September 2025 於 二零二五年 九月三十日 $'000 千港元</td><td rowspan="4">At 31 March 2025 於 二零二五年 三月三十一日 $'000 千港元</td></tr><tr><td></td><td></td></tr><tr><td></td><td>Note</td></tr><tr><td></td><td>附註</td></tr><tr><td>Non-current assets</td><td>非流動資產</td><td></td><td></td></tr><tr><td>Property, plant and equipment</td><td>物業、廠房及設備</td><td>3,163</td><td>3,282</td></tr><tr><td>Intangible assets</td><td>無形資產 9</td><td>11,232</td><td>14,520</td></tr><tr><td>Goodwill</td><td>商譽 9</td><td>53,158</td><td>52,227</td></tr><tr><td>Non-current rental deposits</td><td>非即期租賃按金 10</td><td>-</td><td>11</td></tr><tr><td>Non-current time deposit</td><td>非即期定期存款</td><td>1,564</td><td>54,784</td></tr><tr><td>Deferred tax assets</td><td>遞延税項資產</td><td>2,032</td><td>2,047</td></tr><tr><td></td><td></td><td>71,149</td><td>126,871</td></tr><tr><td>Current assets</td><td>流動資產</td><td></td><td></td></tr><tr><td>Inventories</td><td>存貨</td><td>1,292</td><td>855</td></tr><tr><td>Trade and other receivables</td><td>貿易及其他應收款項 10</td><td>82,269</td><td>74,309</td></tr><tr><td>Financial assets measured at fair value through profit or loss</td><td>按公平值計入損益之 金融資產</td><td>32,741</td><td>-</td></tr><tr><td>Restricted bank deposits</td><td>受限制銀行存款 12</td><td>10,897</td><td>9,930</td></tr><tr><td>Time deposits with original maturity over three months</td><td>原到期日超過三個月的 定期存款</td><td>210,187</td><td>207,651</td></tr><tr><td>Cash at bank and in hand</td><td>銀行存款及手頭現金</td><td>72,404</td><td>103,