Link: https://links.sgx.com/1.0.0/corporate-announcements/805EIGZRYI1DFMSE/075595ae4528577b8b8fa0037dde6c699717bdbeee980c596698798bb62d2912

Summary:

• Group revenue soared 315% year-on-year to RMB 132.6 million for the six months ended 30 September 2025, led by transfer of control for Run Hong Yuan residential units.

• Gross profit more than tripled to RMB 29.5 million, though gross margin dipped to 22.2% on higher cost of sales.

• Net profit rebounded to RMB 15.3 million (from RMB 1.6 million loss last year); basic EPS turned positive at 2.99 RMB cents (vs -0.43 RMB cents).

• Net asset value per share increased to 210.52 RMB cents; cash reserves fell to RMB 16.3 million.

• Bank and other loans total RMB 103.2 million; Group negotiating repayment for RMB 25.5 million bank loan in default, facing material uncertainty over going concern.

• Properties held for sale decreased on handover of units; contract liabilities and current tax liabilities sharply reduced.

• No interim dividend declared; Board prioritizes cash preservation for daily operations and working capital.

• The Group remains focused on marketing its remaining inventory, project sales and construction, while closely monitoring supportive government policy for China’s real estate sector.