天机控股2025年报

(Incorporated in the Cayman Islands with limited liability) ANNUAL REPORT2025 Stock Code1520 Corporate Information BOARD OF DIRECTORSEXECUTIVE DIRECTORS MEI Weiyi(Chairman)LI YangTIN Yat Yu CarolWONG Wai Kai Richard NON-EXECUTIVE DIRECTOR KOT Mui INDEPENDENT NON-EXECUTIVE DIRECTORS TANG Shu Pui SimonHON Ming SangCHEUNG Pak To,BBS AUTHORISED REPRESENTATIVES COMPANY SECRETARYCHAN Yuen Ying Stella AUDIT COMMITTEE HON Ming Sang(Chairman)TANG Shu Pui SimonCHEUNG Pak To,BBS REMUNERATION COMMITTEE TANG Shu Pui Simon(Chairman)MEI WeiyiLI YangHON Ming SangCHEUNG Pak To,BBS NOMINATION COMMITTEE MEI Weiyi(Chairman)KOT MuiTANG Shu Pui SimonHON Ming SangCHEUNG Pak To,BBS Corporate Information CORPORATE GOVERNANCE COMMITTEE MEI Weiyi(Chairman)LI YangTANG Shu Pui SimonHON Ming Sang AUDITOR Beijing Xinghua Caplegend CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor PRINCIPAL BANKERS Hang Seng Bank LimitedThe Bank of East Asia, LimitedThe Hongkong and Shanghai Banking Corporation LimitedBank of Communications (Hong Kong) Limited REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN HONG KONG 19171702 Suite 1702, 17/F., World-Wide HouseNo. 19 Des Voeux Road CentralHong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681, Grand Cayman, KY1-1111Cayman Islands Corporate Information HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong www.vmh.com.hk WEBSITEwww.vmh.com.hk STOCK CODE 15201520 Notes: 1.=2.=3.=4.=5.=6.=x7.=x8.=x 1.Current ratio = current assets/current liabilities2.Quick ratio = current assets less inventory/current liabilities3.Return on assets = Loss attributable to the owners of the Company for the year/total assets4.Return on equity = Loss attributable to the owners of the Company for the year/shareholders’ equity5.Gearing ratio = Total borrowings and lease liabilities/total equity6.Inventory turnover days = Inventory balance/cost of sales for the year x numberof days for the year7.Trade receivables turnover days = Trade receivables/revenue for the year xnumber of days for the year8.Trade payables turnover days = Trade payables/cost of sales for the year xnumber of days for the year Chairman’s Statement On behalf of the board (the “Board”) of directors (the “Directors”) ofVirtual Mind Holding Company Limited (the “Company”), I herebypresent the audited consolidated results of the Company andits subsidiaries (collectively, the “Group”) for the year ended 31December 2025. OVERVIEW In 2025, the global economy showed a moderate recovery trend afterexperiencing volatility, but geopolitical risks persisted, and inflationarypressures and high interest rates continued to constrain consumptionand investment. The Chinese economy demonstrated resilienceunder the sustained effect of steady growth policies, with new qualityproductive forces being accelerated, creating a favorable environmentfor corporate innovation and industrial upgrading. (IP) The Group firmly executed its established development strategy,actively seized opportunities brought by the digital economy and newconsumption wave, continuously optimized the business structure,and promoted intellectual property (IP) application and productoperation businesses to become the core growth engine. Meanwhile,we have proceeded in an orderly manner with the implementationof strategic cooperation projects, laying a solid foundation for futuresustainable development. OUR PERFORMANCE Apparel Operation 32,648,00047,907,000IP The Group continued to provide high-quality knitted and wovenapparel products to multiple renowned brands. For the year ended31 December 2025, revenue from the apparel operation wasapproximately HK$32,648,000 (2024: HK$47,907,000). In responseto changes in market demand, we continuously strengthenedour product design and development capabilities and focused onextending our accumulated expertise in garment craftsmanshipand supply chain management to the field of IP-derived productdevelopment, providing support for business transformation. Chairman’s Statement Money Lending Operation 2,899,0005,570,000 In line with market changes, the Group continued to implementthe strategy of scaling down the money lending operation. For theyear ended 31 December 2025, revenue from the money lendingoperation was approximately HK$2,899,000 (2024: HK$5,570,000).We will continue to provide services to existing customers whileactively monitoring the uncertainty of the market environment andeconomic outlook to make timely adjustments.