宝发控股2025/26 中期报告

INTERIM REPORT2025/26 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED(THE “STOCK EXCHANGE”) GEM has been positioned as a market designed to accommodate small and mid-sized companies to whicha higher investment risk may be attached than other companies listed on the Stock Exchange. Prospectiveinvestors should be aware of the potential risks of investing in such companies and should make thedecision to invest only after due and careful consideration. Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk thatsecurities traded on GEM may be more susceptible to high market volatility than securities traded on theMain Board and no assurance is given that there will be a liquid market in the securities traded on GEM. Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contentsof this report, make no representation as to its accuracy or completeness and expressly disclaim anyliability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of thecontents of this report. Thisreport,for which the directors(the“Directors”)of Polyfair Holdings Limited(the“Company”)collectively and individually accept full responsibility, includes particulars given in compliance with theRules Governing the Listing of Securities on GEM of the Stock Exchange (the “GEM Listing Rules”) for thepurpose of giving information with regard to the Company. The Directors, having made all reasonableenquiries, confirm that to the best of their knowledge and belief the information contained in this reportis accurate and complete in all material respects and not misleading or deceptive, and there are no othermatters the omission of which would make any statement herein or this report misleading. GEM GEM GEMGEMGEM GEMGEM Contents 1Characteristics of GEM of The StockExchange of Hong Kong Limited(The “Stock Exchange”)GEM2Contents3Unaudited Condensed ConsolidatedStatement of Profit or Loss andOther Comprehensive Income4Unaudited Condensed ConsolidatedStatement of Financial Position6Unaudited Condensed ConsolidatedStatement of Changes in Equity 7Unaudited Condensed ConsolidatedStatement of Cash Flows8Notes to the Unaudited CondensedConsolidated Financial Statements32Management Discussion andAnalysis39Other Information Unaudited Condensed Consolidated Statement of Profit or Lossand Other Comprehensive Income For the six months ended 30 September 20252025930 Interim Results 20259 302024 The board (the “Board”) of Directors is pleased to announce theunaudited condensed consolidated results of the Company and itssubsidiaries (collectively the “Group”) for the six months ended30 September 2025 (the “Reporting Period”), together with theunauditedcomparative figures for the corresponding period in2024 as follows: Unaudited Condensed Consolidated Statement ofFinancial Position At 30 September 202520259 30 Unaudited Condensed Consolidated Statement of Financial Position At 30 September 202520259 30 Unaudited Condensed Consolidated Statement ofChanges in Equity For the six months ended 30 September 20252025930 20181 19 Note:Other reserve represented the difference between the share capitalofthe Company issued as consideration of acquiring PolyfairConstruction & Engineering Limited (“Polyfair HK”) and issued sharecapital of Polyfair HK pursuant to a group reorganisation completedon 19 January 2018. Unaudited Condensed Consolidated Statement of Cash Flows For the six months ended 30 September 20252025930 Notes to the Unaudited Condensed ConsolidatedFinancial Statements For the six months ended 30 September 20252025930 1.GENERAL INFORMATION 1. 20175252018223GEMCricket Square, HutchinsDrive, P.O. Box 2681, Grand CaymanKY1-1111,Cayman Islands4999 Polyfair Holdings Limited (the “Company”) was incorporatedand registered as an exempted company with limited liabilityin the Cayman Islands on 25 May 2017 and its shares arelisted on GEM of the Stock Exchange on 23 February 2018. Itsimmediate and ultimate holding company is C.N.Y. HoldingsLimited, a company incorporated in the British Virgin Islands(the “BVI”). The registered office of the Company is locatedatCricket Square,Hutchins Drive,P.O.Box 2681,GrandCaymanKY1-1111,Cayman Islands.The principal placeof business of the Company is located at 9/F., Wing HingIndustrial Building, 499 Castle Peak Road, Cheung Sha Wan,Kowloon, Hong Kong. TheCompany is an investment holding company.Theprincipalactivities of the Company and its subsidiaries(together referred to as the “Group”) are provision of designand project management services for façade and installationof curtain wall systems in Hong Kong. ( Theunaudited condensed consolidated interim financialstatements are presented in Hong Kong dollars (“HK$”). Otherthan those subsidiaries established in the People’sRepublic of China (the “PRC”) whose functional currency isRenminbi (“RMB”), the functional currency of t