Annual Report 2026
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueRMB'000 | 183,705 | 238,683 | PDF p. 42 |
| Cost of salesRMB'000 | (153,509) | (197,555) | PDF p. 42 |
| Gross profitRMB'000 | 30,196 | 41,128 | PDF p. 42 |
| Other income | |||
| Other operating incomeRMB'000 | 5,714 | 5,180 | PDF p. 42 |
| Operating expenses | |||
| Distribution expensesRMB'000 | (7,405) | (8,268) | PDF p. 42 |
| Administrative expensesRMB'000 | (7,413) | (6,920) | PDF p. 42 |
| Finance costsRMB'000 | (3,537) | (3,854) | PDF p. 42 |
| Income statement | |||
| Share of profit from equity-accounted joint ventureRMB'000 | 2,508 | 3,067 | PDF p. 42 |
| Profit before income taxRMB'000 | 20,063 | 30,333 | PDF p. 42 |
| Income taxRMB'000 | (1,569) | (659) | PDF p. 42 |
| Profit for the yearRMB'000 | 18,494 | 29,674 | PDF p. 42 |
| Other comprehensive income for the year, net of tax - Items that will not be reclassified to profit or loss | |||
| Share of other comprehensive income/(loss) of equity accounted joint ventureRMB'000 | 5 | (5) | PDF p. 42 |
| Total comprehensive income | |||
| Total comprehensive income for the year attributable to owners of the CompanyRMB'000 | 18,499 | 29,669 | PDF p. 42 |
| Earnings per share for earnings attributable to owners of the Company (RMB cents) | |||
| - BasicRMB cents per share | 1.75 | 2.81 | PDF p. 42 |
| - DilutedRMB cents per share | 1.75 | 2.81 | PDF p. 42 |
Original report: PDF p. 42 ↗
For the financial year ended 30 June 2026. The accompanying notes form an integral part of the financial statements. No separate Company income statement is presented.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current Assets | |||||
| Investment in joint ventureRMB'000 | 16,946 | 14,433 | 6,347 | 6,347 | PDF p. 43 |
| Investment in subsidiariesRMB'000 | – | – | 19,473 | 19,473 | PDF p. 43 |
| Property, plant and equipmentRMB'000 | 34,846 | 37,855 | 1 | 1 | PDF p. 43 |
| Right of use assetsRMB'000 | 5,954 | 5,947 | – | – | PDF p. 43 |
| SubtotalRMB'000 | 57,746 | 58,235 | 25,821 | 25,821 | PDF p. 43 |
| Current Assets | |||||
| Cash and cash equivalentsRMB'000 | 2,503 | 11,610 | 2,307 | 1,804 | PDF p. 43 |
| Notes receivableRMB'000 | 31,000 | 70,000 | – | – | PDF p. 43 |
| Trade receivableRMB'000 | 136,098 | 133,427 | – | – | PDF p. 43 |
| Other receivablesRMB'000 | 171 | 257 | – | 30 | PDF p. 43 |
| Receivable from subsidiariesRMB'000 | – | – | 23,282 | 20,440 | PDF p. 43 |
| Receivable from a related partyRMB'000 | 7 | 7 | – | – | PDF p. 43 |
| PrepaymentsRMB'000 | 926 | 191 | – | – | PDF p. 43 |
| InventoriesRMB'000 | 66,936 | 36,064 | – | – | PDF p. 43 |
| SubtotalRMB'000 | 237,641 | 251,556 | 25,589 | 22,274 | PDF p. 43 |
| Assets | |||||
| Total AssetsRMB'000 | 295,387 | 309,791 | 51,410 | 48,095 | PDF p. 43 |
| Equity attributable to owners of the Company | |||||
| Share capitalRMB'000 | 252,093 | 252,093 | 252,093 | 252,093 | PDF p. 43 |
| Contributed surplusRMB'000 | 22,000 | 22,000 | – | – | PDF p. 43 |
| Statutory and other reservesRMB'000 | 10,637 | 10,637 | – | – | PDF p. 43 |
| Accumulated lossesRMB'000 | (99,501) | (118,000) | (201,863) | (204,831) | PDF p. 43 |
| SubtotalRMB'000 | 185,229 | 166,730 | 50,230 | 47,262 | PDF p. 43 |
Original report: PDF p. 43 ↗
As at 30 June 2026. Continued on next page (liabilities). The accompanying notes form an integral part of the financial statements.
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| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current Liabilities | |||||
| Deferred capital grantRMB'000 | 188 | 194 | – | – | PDF p. 44 |
| Lease liabilityRMB'000 | 119 | – | – | – | PDF p. 44 |
| SubtotalRMB'000 | 307 | 194 | – | – | PDF p. 44 |
| Current Liabilities | |||||
| Trade and other payablesRMB'000 | 6,100 | 4,070 | 1,180 | 833 | PDF p. 44 |
| Payable to immediate holding companyRMB'000 | 63,165 | 59,856 | – | – | PDF p. 44 |
| Lease liabilityRMB'000 | 54 | – | – | – | PDF p. 44 |
| BorrowingsRMB'000 | 40,532 | 78,941 | – | – | PDF p. 44 |
| SubtotalRMB'000 | 109,851 | 142,867 | 1,180 | 833 | PDF p. 44 |
| Liabilities | |||||
| Total LiabilitiesRMB'000 | 110,158 | 143,061 | 1,180 | 833 | PDF p. 44 |
| Equity and liabilities | |||||
| Total Equity and LiabilitiesRMB'000 | 295,387 | 309,791 | 51,410 | 48,095 | PDF p. 44 |
Original report: PDF p. 44 ↗
As at 30 June 2026. The accompanying notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Income | |||
| Profit for the yearRMB'000 | 18,494 | 29,674 | PDF p. 42 |
| Other comprehensive income - items that will not be reclassified | |||
| Share of other comprehensive income/(loss) of equity accounted joint ventureRMB'000 | 5 | (5) | PDF p. 42 |
| Total comprehensive income | |||
| Total comprehensive income for the year attributable to owners of the CompanyRMB'000 | 18,499 | 29,669 | PDF p. 42 |
Original report: PDF p. 42 ↗
Other comprehensive income is net of tax. Total comprehensive income is wholly attributable to owners of the Company; no non-controlling interests shown. No separate Company-level comprehensive income statement printed.
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| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Operating Activities | |||
| Profit before income taxRMB'000 | 20,063 | 30,333 | PDF p. 46 |
| Operating Activities - Adjustments | |||
| Write back of impairment loss - other receivablesRMB'000 | (50) | (101) | PDF p. 46 |
| Amortisation of deferred capital grantRMB'000 | (6) | (6) | PDF p. 46 |
| Amortisation of right of use assetsRMB'000 | 208 | 186 | PDF p. 46 |
| Depreciation of property, plant and equipmentRMB'000 | 727 | 868 | PDF p. 46 |
| Gain on disposal of property, plant and equipmentRMB'000 | – | (2) | PDF p. 46 |
| Share of profit from equity-accounted joint ventureRMB'000 | (2,508) | (3,067) | PDF p. 46 |
| Interest incomeRMB'000 | (5,590) | (4,996) | PDF p. 46 |
| Interest expenseRMB'000 | 3,440 | 3,849 | PDF p. 46 |
| Operating Activities | |||
| Operating cash flows before working capital changesRMB'000 | 16,284 | 27,064 | PDF p. 46 |
| Operating Activities - Working capital | |||
| InventoriesRMB'000 | (27,504) | 72,555 | PDF p. 46 |
| Notes receivablesRMB'000 | 39,000 | (60,000) | PDF p. 46 |
| Trade and other receivablesRMB'000 | (599) | 2,350 | PDF p. 46 |
| Receivable from immediate holding companyRMB'000 | (2,671) | (101,271) | PDF p. 46 |
| Trade and other payablesRMB'000 | 2,030 | (1,833) | PDF p. 46 |
| Operating Activities | |||
| Cash flows generated from/(used in) operationsRMB'000 | 26,540 | (61,135) | PDF p. 46 |
| Interest receivedRMB'000 | 5,590 | 4,996 | PDF p. 46 |
| Income tax paidRMB'000 | (1,569) | (659) | PDF p. 46 |
| Net cash generated from/(used in) operating activitiesRMB'000 | 30,561 | (56,798) | PDF p. 46 |
| Investing Activities | |||
| Purchase of property, plant and equipmentRMB'000 | (1,086) | (2,526) | PDF p. 46 |
| Proceeds from disposal of property, plant and equipmentRMB'000 | – | 21 | PDF p. 46 |
| Net cash used in investing activitiesRMB'000 | (1,086) | (2,505) | PDF p. 46 |
| Financing Activities | |||
| Advances from immediate holding companyRMB'000 | 3,309 | 3,515 | PDF p. 46 |
| Repayment of lease liabilityRMB'000 | (42) | – | PDF p. 46 |
| Proceeds from borrowingsRMB'000 | 66,000 | 130,000 | PDF p. 46 |
| Repayments of borrowingsRMB'000 | (105,000) | (90,000) | PDF p. 46 |
| Interest paidRMB'000 | (2,849) | (3,964) | PDF p. 46 |
| Net cash (used in)/generated from financing activitiesRMB'000 | (38,582) | 39,551 | PDF p. 46 |
| Net change in cash | |||
| Net decrease in cash and cash equivalentsRMB'000 | (9,107) | (19,752) | PDF p. 46 |
| Cash and cash equivalents at the beginning of yearRMB'000 | 11,610 | 31,362 | PDF p. 46 |
| Cash and cash equivalents at the end of yearRMB'000 | 2,503 | 11,610 | PDF p. 46 |
Original report: PDF p. 46 ↗
Only a Group cash flow statement is printed; no Company cash flow statement.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group: Share capital | 2026Group: Contributed surplus | 2026Group: Statutory and other reserves | 2026Group: Accumulated losses | 2026Group: Total | Source |
|---|---|---|---|---|---|---|
| 2026 | ||||||
| As at 1 JulyRMB'000 | 252,093 | 22,000 | 10,637 | (118,000) | 166,730 | PDF p. 45 |
| Profit for the yearRMB'000 | – | – | – | 18,494 | 18,494 | PDF p. 45 |
| Other comprehensive income for the yearRMB'000 | – | – | – | 5 | 5 | PDF p. 45 |
| Total comprehensive income for the financial yearRMB'000 | – | – | – | 18,499 | 18,499 | PDF p. 45 |
| As at 30 JuneRMB'000 | 252,093 | 22,000 | 10,637 | (99,501) | 185,229 | PDF p. 45 |
Original report: PDF p. 45 ↗
Equity attributable to owners of the Company. Label 'Total comprehensive income for the financial year' wraps across two lines; quote is the second line carrying the values.
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| Metric / unit | 2025Group: Share capital | 2025Group: Contributed surplus | 2025Group: Statutory and other reserves | 2025Group: Accumulated losses | 2025Group: Total | Source |
|---|---|---|---|---|---|---|
| 2025 | ||||||
| As at 1 JulyRMB'000 | 252,093 | 22,000 | 10,637 | (147,669) | 137,061 | PDF p. 45 |
| Profit for the yearRMB'000 | – | – | – | 29,674 | 29,674 | PDF p. 45 |
| Other comprehensive loss for the yearRMB'000 | – | – | – | (5) | (5) | PDF p. 45 |
| Total comprehensive income for the financial yearRMB'000 | – | – | – | 29,669 | 29,669 | PDF p. 45 |
| As at 30 JuneRMB'000 | 252,093 | 22,000 | 10,637 | (118,000) | 166,730 | PDF p. 45 |
Original report: PDF p. 45 ↗
Equity attributable to owners of the Company.
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| Metric / unit | 2026Group, year ended 30 June 2026 | 2025Group, year ended 30 June 2025 | Source |
|---|---|---|---|
| Earnings per share | |||
| Net earnings for the year (RMB’000)RMB’000 | 18,494 | 29,674 | PDF p. 73 |
| Weighted average number of ordinary shares for the purpose of basic earnings per sharenumber of shares | 1,055,459,201 | 1,055,459,201 | PDF p. 73 |
| Basic and Diluted earnings per share (RMB cents per share)RMB cents per share | 1.75 | 2.81 | PDF p. 73 |
Original report: PDF p. 73 ↗
Basic and diluted earnings per share are calculated by dividing the net profit for the year attributable to owners of the Company by the weighted average number of ordinary shares outstanding during each reporting period. There are no potential dilutive shares for the financial years ended 30 June 2026 and 2025.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 30 June 2026 | 2025Group, year ended 30 June 2025 | Source |
|---|---|---|---|
| Earnings per share for earnings attributable to owners of the Company (RMB cents) | |||
| - BasicRMB cents | 1.75 | 2.81 | PDF p. 42 |
| - DilutedRMB cents | 1.75 | 2.81 | PDF p. 42 |
Original report: PDF p. 42 ↗
The accompanying notes form an integral part of the financial statements
Debt
| Item / unit | 2026RMB'000 | 2025RMB'000 | Source |
|---|---|---|---|
| Lease liability | |||
| Not later than one yearRMB'000 | 54 | – | PDF p. 85 |
| Between one and five yearsRMB'000 | 119 | – | PDF p. 85 |
| Carrying amount of lease liabilityRMB'000 | 173 | – | PDF p. 85 |
| Item / unit | 2026Group carrying amount, RMB'000 | 2026Group within 1 year, RMB'000 | 2026Group between 1 to 5 years, RMB'000 | 2026Group total, RMB'000 | Source |
|---|---|---|---|---|---|
| Group 2026 Financial liabilities | |||||
| BorrowingsRMB'000 | 40,532 | 41,201 | – | 41,201 | PDF p. 93 |
| Lease liabilitiesRMB'000 | 173 | 69 | 138 | 207 | PDF p. 93 |
Based on contractual undiscounted repayment obligations. Payable to immediate holding company (63,165 carrying) also listed but not borrowings.
| Item / unit | 2025Group carrying amount, RMB'000 | 2025Group within 1 year, RMB'000 | 2025Group between 1 to 5 years, RMB'000 | 2025Group total, RMB'000 | Source |
|---|---|---|---|---|---|
| Group 2025 Financial liabilities | |||||
| BorrowingsRMB'000 | 78,941 | 80,548 | – | 80,548 | PDF p. 93 |
Company has no borrowings in the maturity table (only trade and other payables).
| Item / unit | 2026RMB'000 | 2025RMB'000 | Source |
|---|---|---|---|
| Current borrowings | |||
| - Trade financingRMB'000 | 30,840 | 69,233 | PDF p. 86 |
| - Short-term bank loanRMB'000 | 9,692 | 9,708 | PDF p. 86 |
| Total current borrowingsRMB'000 | 40,532 | 78,941 | PDF p. 86 |
Trade financing bears fixed interest ranging from 1.10% to 1.70% (30 June 2025: 1.60% to 2.34%) per annum, is repayable within 12 months and secured by the endorsement of notes receivables.
The short-term bank loan is unsecured, bore interest at 2.11% (2025: 2.15%) per annum and is obtained for working capital purpose. The borrowing tenure is 1 year from June 2026 (2025: from June 2025).
Total row has no printed label; all borrowings are current; no non-current borrowings. Borrowings are at fixed rate (p.92).
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Group does not have a fixed dividend policy at present. The form, frequency and amount of dividends declared each year will take into consideration the Group’s profit growth, cash position, positive cash flow generated from operations, projected capital requirements for business growth and other factors as the Board may deem appropriate. | Group | PDF p. 27 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| FY2026 dividend | For FY2026, no dividend to be declared or was recommended in view of the Company currently does not having retained profits available and the Board deemed it appropriate to conserve funds for the Group’s business activities and working capital requirement. | FY2026 | PDF p. 27 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | Moore Stephens LLP | Group and Company, year ended 30 June 2026 | PDF p. 41 |
| Engagement partner | Lao Mei Leng | Group and Company | PDF p. 41 |
| Opinion | true and fair view | Group and Company, as at and for year ended 30 June 2026 | PDF p. 37 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | We have nothing to report | Group | PDF p. 40 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.